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Smart Shopper Extended Warranties
2870 messages, Last post on Nov 23, 2009 at 4:56 PM
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Edmunds article: Third-Party Extended Warranty Scams
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Replying to: joe131 (Jun 09, 2007 1:23 pm) Isn't the maintanence interval on all hybrids every 10K miles?
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Replying to: joel0622 (Jun 09, 2007 1:51 pm)
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Replying to: joe131 (Jun 09, 2007 1:53 pm) |
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Replying to: joe131 (Jun 09, 2007 1:23 pm) I found the Civic warranty costs $885. But the Civic Hybrid warranty is $935. That is for an 8 year, 100,000 mile, $0 deductible warranty on a car 2006 or newer and with 6,000 miles or less. It is a HondaCare warranty. But I still wonder what a dealer would ask. |
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Replying to: joe131 (Jun 09, 2007 1:23 pm) If you get an extended warranty (AKA service plan) you want to get factory backed HondaCare and not a 3rd party warranty. The is no such thing as a "bumper to bumper" HondaCare plan, it does cover a lot of stuff but does have a long list of exclusions. You should read the list of what is covered and was is not before making a purchase. There is a separate thread here to talk about Honda Extended Warranties: Click here I have found that either Saccucci or Bernardi offer the best prices, but it always pays to check for yourself before you buy. Right now Saccucci charges $940 for the longest term $0 deductible plan (8 yrs, 120k miles) for the hybrid and $890 for any other Civic - so not a lot of difference. One reason for the close price is that many of the hybrid components are covered from the factory by an 8 yr / 80k warranty. In some states the battery pack is covered up to 10 yrs/ 150k. I have no idea what your local dealer would charge for this, the answer most likely is a lot more. You do not have to buy the HC plan at the time of the purchase and do not have to buy it from the dealer that sells you the car. Buy online and save lots or money, or print the online prices and get your dealer to match them. Since the HC is not much different, what you have to calculate is how long it will take you to pay back the extra cost of the hybrid over a normal Civic. The hybrid may set you back $3k or more over an EX sedan - a lot more if your local dealer is having no trouble selling hybrids. You can't believe the EPA numbers on hybrids - even after the adjustment. You also have to consider your driving style, drive a hybrid as most folks drive and you will not get close to EPA numbers. With 12k miles per year at $4 per gallon, you might pay $1,371 for gas in the EX (using 35mpg and 12k miles per year to figure) and you might pay $960 in the hybrid (using 50mpg). If you save $411 per year and pay $3,000 more for the hybrid you will break even after 7.3 years or 87,591 miles. That is at $4 per gallon which is way high for TODAY. At some point the battery will have to be replaced and that would cost more than you have likely saved over the life of the car. Resale value is another unknown - short term (under warranty) the hybrid might strong and be really strong as gas prices rise. Way down the road when out of warranty, it is likely it could be well under the EX since the needed repairs would be so high and we have no track record. For these reasons most 3rd party banks are still not leasing hybrids. Make the call for yourself, but the HC price will not be a factor. Dennis |
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Replying to: uvebeenscrewed (Jun 09, 2007 10:28 am) |
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Replying to: uvebeenscrewed (Jun 09, 2007 10:28 am) Thanks for taking the time to post all of that info. It's truly amazing. I'm going to see if my dealer is still selling those API warranties, and if so, I'm going to report them to the state's AG's office for fraud. This is the first time that I've bought an ext. warrantry and after negotiating a good price for my Trailblazer, I regretted not trying to negotiate the price of the API warranty. I just didn't realize how much "fat" was built into the price. Overall, based on the service history of my SUV, I've gotten more than my monies worth from the ext warranty. However, I got lucky. If I had bought it in the last few years and was just getting out of the factory warranty and into the ext. warranty period, I'd be screwed and out the money. Next time, if I do buy an ext warranty, it will be a factory based warranty. It's funny how my dealer didn't even make me aware of the existence of a factory based warranty. All they did was push the API warranty on me. Thanks to your post, now I know why - they make alot of money on them. In the end, after my aggressive prodding, they accepted payment from APIs ins. company. I'm wondering if they even wind up getting paid, although I couldn't really care less. Thanks again for the info.
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Replying to: varsitysg (Jun 10, 2007 6:44 am) They didn't tell you because it is a better contract for not that much more money. The only thing you can sell a AM service contract on is price. If you are looking at it from a value for dollar stand point the factory contract is better every time. cheaper is not always better |
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Replying to: greasykid1 (Dec 01, 2006 9:46 pm) I called my AAA auto club and they said they do not offer EW. Other people on this site confirm this info.
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Replying to: santamonican (Jun 21, 2007 5:49 pm) |
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