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Smart Shopper Honda Extended Warranties Pricing and Info
3104 messages, Last post on Nov 25, 2009 at 7:48 AM
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Replying to: flash45 (Nov 29, 2006 10:24 am) 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 |
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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?
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Replying to: jimmibondi (Nov 30, 2006 1:35 pm) 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
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Replying to: dwynne (Nov 30, 2006 7:27 pm) 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!
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Replying to: jimmibondi (Dec 01, 2006 4:19 am) 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
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Replying to: dwynne (Dec 01, 2006 7:41 am) I'd rather stay away from that type of insurance.. |
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OK, I just posted yesterday about buying a SE V6 for a good price from Herb Chambers in Westborough, MA. But I was totally unprepared for the warranty sale by the finance guy. I knew nothing about these warranties and didn't even know there were competitors to shop around to. He offered me an extension on the bumper-to-bumper 3yr/36,000 mile up to 5 yr/60,000 for $805 from API (stating that this price was discounted from their normal rate by 50% or so). At first I refused but then he said that: 1) if I didn't use it I would get the money back (I assumed this meant not using it from 36,001 through 60,000 miles), and; 2) I could cancel the purchase anytime up to the 3yr/36,000 limit. But when I read the refund terms from API it says: "Use of any benefit of the Service Contract, including Roadside Assistance, Car Rental, Towing [etc.] voids the GPR [refund] Program." Does this mean that if I use the service contract EVER from mile one I cannot get a refund on the extension? It also says: "Contract must expire by time (in months) to be eligible for the GPR." Does this mean that if I run up 60,000 miles before five years is up I still can't get a refund? Nowhere does it say I can get a refund at any time before the extension period begins, as the finance guy said. Is this a rip-off? Is the price reasonable for this warranty?
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Replying to: stevehecht (Dec 01, 2006 6:43 pm) I can understand folks who think an extended warranty is not something they want to buy, but if you DO decide to buy one you should only get a HondaCare warranty and buy it from a discount dealer (like Bernardi). I would get a refund on this as soon as you can. If does sound like if you use any benefit (roadside, rental car, etc) you get nothing back and yes, you don't get anything back until the months are up, no matter the miles. Dennis |
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Replying to: dwynne (Dec 01, 2006 7:50 pm) I do plan to call to cancel this plan tomorrow--I had better be able to! I've already gotten a quote on the Bernardi website, and for the same money I can get 7yr/100,000 miles with $0 deductible instead of 5yr/60k miles with $100 deductible! What a rip-off! Strangely enough, I had been at Bernardi Honda earlier the same day I bought the car from Herb Chambers but Bernardi didn't have the car I wanted and couldn't meet their price.
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Replying to: dwynne (Dec 01, 2006 7:50 pm) and their prices look better than Bernardi's.
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