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Honda Extended Warranties Pricing and Info

3093 messages,  Last post on Nov 07, 2009 at 5:06 AM

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What is this discussion about? Honda Odyssey, Honda Accord, Honda Civic, Honda Element, Honda Pilot, Honda S2000, Car Warranties

#1304 of 3093 Re: extended care or not? + should I use my own trusted mechanic [dwynne] by jaxs1 Nov 26, 2006 (10:54 am)
Replying to: dwynne (Nov 26, 2006 10:40 am) Of course it doesn't work that way the vast majority of the time or they would adjust the price of the warranty higher so sales of the extended warranty continues to be a profit center to the manufacturer. Also if things like that were common, the Accord would certainly be a car to avoid rather than buying the car and then buying an extended warranty to cover all these problems you are going to have to keep having fixed. Replies to this message: dwynne (Nov 26, 2006 3:31 pm) jaxs1 (Nov 26, 2006 4:22 pm) aspesisteve (Nov 27, 2006 3:56 pm)
#1305 of 3093 Re: extended care or not? + should I use my own trusted mechanic [jaxs1] by dwynne Nov 26, 2006 (3:31 pm)
Replying to: jaxs1 (Nov 26, 2006 10:54 am) It does not have to happen to you or even a majority of owners - just to ME and it makes the purchase worthwhile.   Same is true for your car insurance, right? You are a great driver and will not cause an accident so drop your coverage and take your chances. You would save a lot of money that way and depend on your driving skill to not be out a lot of money.   This seems to be the pricing and info forum, not the "should you get it or not" forum .   It is not for everyone, but if you want to get coverage then get HondaCare from a discount dealer - and we can help you do that in this forum.   Dennis Replies to this message: jaxs1 (Nov 26, 2006 4:22 pm) aspesisteve (Nov 27, 2006 3:56 pm)
#1306 of 3093 Re: extended care or not? + should I use my own trusted mechanic [dwynne] by jaxs1 Nov 26, 2006 (4:22 pm)
Replying to: dwynne (Nov 26, 2006 3:31 pm) Even for "YOU" when discussing cost. If you buy the extended warranty on the next 10 Honda's you purchase, you can bet that you would have spent more on extended warranty premiums that you would get paid back in claims. Not just a few dollars more either. Likely thousands of dollars over that time period. That remains true even if one or two out of the 10 cars had some major covered failure that would have cost more than the warranty's premium. That is how it is a money loser. You cannot forget about all the times you paid for the warranty and lost money and think that if you hit the jackpot on some major issue that wipes all the other previous and future costs away. If you had invested the extended warranty money even into something as risk-free as CDs over that time period, the money lost is magnified that much more.   Also, of course the dealership is going to print that it costs $2000 or more to replace an A/C compressor on a 3 year old Accord. You have no reason to question the price printed on the invoice and it's a marketing technique to drive future extended warranty purchases by you and all the people you go around telling how great the warranty was to pay so much money out. It increases their business. The service department will get paid the extended warranty's discounted rate which is still much better than the $0 they would receive if you had a reason to shop that high-ball price they print on your copy of the invoice around elsewhere.
#1307 of 3093 Re: extended care or not? + should I use my own trusted mechanic [dwynne] by aspesisteve Nov 27, 2006 (3:56 pm)
Replying to: dwynne (Nov 26, 2006 3:31 pm) extended warranties are not like car insurance imo.   car insureance you have no choice according to the law.   an extended warranty is by choice and a poor one in my opinion - especially on a Honda. If you say it gives you peace of mind, then so be it.   I have peace of mind keeping that coin in the bank or on a couple of plane tickets to Hawaii
#1308 of 3093 Honda extended Warranty by flash45 Nov 29, 2006 (10:24 am)
After having recently purchased a 07 Honda Accord w/ NAV, I debated whether to get a Warranty or not. Most dealer Markups on this type of Warranty are all over the place. With advanced components like a NAV system, it could be very expensive to replace. If you are looking for pricing information, may I suggest this web site www.hondacuraworld.com. They sell genuine Honda extended warranties on line. I saved more than a $1,000 purchasing an extended warranty from them rather than from the dealer I purchased my car . At the very least you could use their pricing information to negoiate a better price from a dealer. One thing to remember, you can buy a genuine Honda warranty anywhere. It's good at all Honda dealerships. Hope this info helps. One last thing,with the ody thread discussion, an extended warranty for 8yr 120k goes for $1330. Replies to this message: dwynne (Nov 29, 2006 11:24 am)
#1309 of 3093 Re: Honda extended Warranty [flash45] by dwynne Nov 29, 2006 (11:24 am)
Replying to: flash45 (Nov 29, 2006 10:24 am) You should have shopped around more.   At www.hondacuraworld.com they show $1025 for 8/120k/$0 for an I4 Accord or $1480 for a V6 Accord (I think this price is a mistake - way too high). The Ody is $1330 as you mentioned.   At Bernardi the same plans are MUCH less money.   I4 Accord: 8 years/120,000 miles warranty $0 deductible = $925.00   V6 Accord: 8 years/120,000 miles warranty $0 deductible = $980.00   Ody: 8 years/120,000 miles warranty $0 deductible = $1,230.00   So if you order from the place you suggest, you will pay $100 more for the same thing. You have 30 days to cancel for a full refund, I would cancel and re-buy and pocket the $100. If you purchased the V6 Accord plan for the $1,480 shown you would get back $500 by cancelling and buying from Bernardi.   I have no affiliation with Bernardi, but I HAVE purchased HC plans from them in the past. If someone has a better price I would post it.   Dennis
#1310 of 3093 fidelity's extended warranty by jimmibondi Nov 30, 2006 (1:35 pm)
Normally I don't purchase extended warranties, but yesterday when buying my accord I was intrigued (but did not actually buy) by a $1600 8/120 warranty sold by the dealer. The underwriting company is Fidelity something. One of the terms of the deal is that if you make no claims at all, you can get $1550 back after 8 years. So, one way to use this warranty is to not use it unless you need a repair for more than $1600. So either you lose $50 + interest, or you get repairs worth more than $1600. This sounds like a good deal -- what's the catch?   Of course, there should be other considerations, such as if the company will be around for 8 years, or if the company denies claims for phony reasons.   Does anybody know about this company and it's warranty? Replies to this message: dwynne (Nov 30, 2006 7:27 pm) jimmibondi (Dec 01, 2006 4:19 am) dwynne (Dec 01, 2006 7:41 am) and 1 more...
#1311 of 3093 Re: fidelity's extended warranty [jimmibondi] by dwynne Nov 30, 2006 (7:27 pm)
Replying to: jimmibondi (Nov 30, 2006 1:35 pm) The catch could be that like folks who purchased a Warranty Gold contract you are left with nothing - no money and no service. Ask the DEALER if he will give you a notarized statement that they will: repair your car free of charge or give you the $1,550 back if you don't use it IF Fidelity does not live up to its end of the bargain.   What happens if you need an $800 repair? Do you pay for it yourself and hope you get the $1550 back later? If you do pay for it, then have more problems then you will be out the $1600 plus the $800 you paid out of pocket to try to get the $1550 back.   Also check the fine print, they could have language in there that says you have to still own the car and the end of the warranty to get the refund. They are betting the majority of folks will either have their car wreck, stolen, or sell/trade it before then - then they get to keep the whole $1,600 and do nothing for it. While looking at the fine print, hot much WOULD you get back if you cancel early for any reason.   Dennis Replies to this message: jimmibondi (Dec 01, 2006 4:19 am) dwynne (Dec 01, 2006 7:41 am) kyfdx (Dec 01, 2006 7:45 am)
#1312 of 3093 Re: fidelity's extended warranty [dwynne] by jimmibondi Dec 01, 2006 (4:19 am)
Replying to: dwynne (Nov 30, 2006 7:27 pm) As for the $800 scenario, if you get the $1550 refund without a hassle you are still ok. Compared to the no insurance scenario, you are out only $50 + interest. If you do need a major repair and if your big claim is paid without a problem, then you come out better than the no insurance scenario. It sounds like an insurance against a major failure that costs $50 + interest.   But as you point out, there could be things in the fine print (which I have not seen) that could cause a problem. When I googled the company it brought up a few complaints about denial of claims and about long waits before their adjusters approve the claim. I would also be worried about denial of that one big claim for whatever reason, which then would also disqualify you from getting the $1550 back. Thanks! Replies to this message: dwynne (Dec 01, 2006 7:41 am) kyfdx (Dec 01, 2006 7:45 am)
#1313 of 3093 Re: fidelity's extended warranty [jimmibondi] by dwynne Dec 01, 2006 (7:41 am)
Replying to: jimmibondi (Dec 01, 2006 4:19 am) The problem is, what if you have an $800 now - do you claim it or not? Say you do not, then you have another $500 claim. Well, you are in for $800 out of pocket and now $500 more, so do you claim this one or not? That is the game they are trying to get you to play - keep paying for things out of pocket so they pay nothing. Once you pay for anything then in order to get that money back you can't claim ANYTHING - so now you are stuck.   As I said, I bet in the fine print you will see lots of restrictions about early termination and such.   If the dealer will stand behind it with a notarize agreement that you could risk it. Otherwise, get HondaCare or just do without.   Dennis Replies to this message: kyfdx (Dec 01, 2006 7:45 am)

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