Slightly OT: Extended warrantees

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Proctologically Violated©® - 17 May 2007 18:28 GMT

Awl--

I need a clue as to the pros/cons/sense of extended warrantees.
Bottom line: Worth it?
The only thing I know is that the price of some EWs have tremendous
variations from dealer to dealer.

Dealer (Honda Fit) is asking $1100 for a 7 or 8 year/120,000 warranty, more
or less. Says it will jump by $400 if I decide later than a few days from
now, cuz then the car is considered "used".

Just drove home the 07 base Fit 5-door, an apparently great knock-around
utility vehicle, intelligently laid out, nothing fancy, A/C, auto, CD, power
locks/windows/mirrors, roomy very versatile seats.
Seems to have decent pickup/handling, altho according to CR its 0-60 is a
bit slower than say a Matrix, or Versa.
But its mpg's are a bit better.

Interested in all opinions on EWs.
tia.

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jcr - 18 May 2007 01:19 GMT

> Awl--
>
[quoted text clipped - 16 lines]
> Interested in all opinions on EWs.
> tia.

Statistically, no. They aren't worth it. EW's are basically playing the
odds that you *will* need major EW work that will be at least the cost
of the coverage premium. You won't know if you made the right choice
for 7 years.

If "piece-of-mind" is important to you, then the cost of an EW (knowing
it *may be* money thrown away) may make getting an EW worth it to you.

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M.M. - 18 May 2007 04:36 GMT

> Statistically, no. They aren't worth it. ...

That seems to be Conventional Wisdom but I've gotten my money's worth
and then some on the extended warranties I've had. The one time I didn't
get one, I would have made it back (A/C compressor). Now, it might be
that I just buy crappy cars...

Just make sure you understand the terms & requirements of the particular
warranty...deductibles, where it's valid, what you need to do to keep it
valid (oil changes, etc), and exactly what it covers. Then it basically
boils down to...How lucky do you feel? For something as (supposedly)
reliable as a Honda or Toyota I don't know if it'd be worth it. You
might might be better off to put the $1100 in a high interest on-line
savings account. For an el-cheapo Ford or GM car with questionable
reliability, it might pay off to get the warranty.

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HLS@nospam.nix - 19 May 2007 00:16 GMT

> Awl--
>
> I need a clue as to the pros/cons/sense of extended warrantees.
> Bottom line: Worth it?

Traditionally, no, they aren't worth it.. BUT I just bought the Toyota care
package
which costs about the same. They threw in a free (?) insurance that will
cover even
dings to the car in parking lot.

So, if the Toyota system is honest, I should not have to worry about
anything
for 7 years. Bumper to bumper.

Now with HID lamps costing in the range of $300-500 each, it doesnt take
much to
justify an $1100 insurance policy.

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AZ Nomad - 19 May 2007 00:23 GMT

>> Awl--
>>
>> I need a clue as to the pros/cons/sense of extended warrantees.
>> Bottom line: Worth it?

>Traditionally, no, they aren't worth it.. BUT I just bought the Toyota care
>package
>which costs about the same. They threw in a free (?) insurance that will
>cover even
>dings to the car in parking lot.

>So, if the Toyota system is honest, I should not have to worry about
>anything
>for 7 years. Bumper to bumper.

>Now with HID lamps costing in the range of $300-500 each, it doesnt take
>much to
>justify an $1100 insurance policy.

Except that the insurance will invariably not cover anything you might
need it for.

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