extended warranty
extended warranty
I am new to this site and just purchased my RDX Tech last week. My salesperson keeps pushing the extended warranty on me, I guess because I was able to get the RDX at invoice and he needed to make money elsewhere. Are people buying the extended warranty? Those who have the '07 model, are you guys having problems? I'm on the fence regarding on what to do. The ACURA brand I know is reliable (had a TL), but this RDX has a lot of electronics, turbo engine, etc...and I don't want a lot of expenses down the road. Thanks for any input.
Trolling Canuckistan
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From: 100 Legends Way, Boston, MA 02114
Depends on how long you plan to keep the car. If your going to keep it for 100K, I'd go for it. At this point I don't think you're going to find many RDX owners that are out of factory warranty, so in terms of long term reliability, you'll have to rely on Acura's previous history.
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If you do get one go to www.hondacuraworld.com for the best deals.
Originally Posted by black label
Depends on how long you plan to keep the car. If your going to keep it for 100K, I'd go for it. At this point I don't think you're going to find many RDX owners that are out of factory warranty, so in terms of long term reliability, you'll have to rely on Acura's previous history.
Originally Posted by Simba91102
I agree. Basically depends on how long you're planning on keeping the car. If you're looking at 100K miles, I'd buy it. A turbo melt down at 65K miles and you'll get your money back and then some (like double).
If Turbo start blowing up like crazy, I am pretty sure Acura will extend warranty on them to 100K miles, just like then did for Acura 01-03 CL/TL.
This is my second Acura, I own 2001 CLS, never bought extended warranty (given transmission issues), I have no regrets.
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I personally think the warranty is a jip. I got the warranty when we purchased the car.. it was part of the 2.5 interest rate deal.. so we were stuck with it..but basically it's not even a real extended warranty.. when you read the fine print and do the math.. you're only getting 2 extra years on top of the factory warranty for 2500 extra. We were so mad at the finance guy for throwing in this "deal" that we had to pay 2500 extra to get the low interest rate. We only accepted it when he told us we could cancel the plan and get the money back pro-rated once 60 days were up. I say if you have the money..go ahead and throw it in, but if you're a little tight and don't want to waste your money.. avoid the "extended" warranty.
think about it: would they sell it to you if they expected it to be worth the money to you? You're just prepaying any repairs. Rest assured the Acura engineers have tested, retested, calculated and recalculated what this car should cost to repair over the years. And the expected repair bills from items covered by the extended warranty are much lower than what you pay for the warranty.
Sure, you can get unlucky and lose, but the numbers are in your favor if you avoid the warranty. If you can afford to fix the car 5 years from now (when you have no car payment), then I think you're throwing away good money on a warranty now.
Also, if you crash your car and total it - you're not gonna get that money back.
Sure, you can get unlucky and lose, but the numbers are in your favor if you avoid the warranty. If you can afford to fix the car 5 years from now (when you have no car payment), then I think you're throwing away good money on a warranty now.
Also, if you crash your car and total it - you're not gonna get that money back.
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Joined: Jan 2004
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From: Malvern, PA
I bought mine pre-owned, 9 months and 7000 miles on the clock. Acura extends the bumper to bumper for 1 year/12k miles (total 5 year/62k) and stretches the powertrain to 7 year/100k miles. I wrapped the bumper-bumper to 7/10k for $1k. Costs me $18/month to know that I will never have an out of pocket expense (other than consumables) for 6-1/4 years and 93k miles. No surprises for over 6 years. What if the NAV system or the transmission goes out of warranty? Ever priced those items? No manufacturer can afford to build a product that lasts forever, even Acura. I was, and am, comfortable with my decision. I tend to keep my cars for a while. If it's not right for you, so be it.
Joe
Joe
Also, keep in mind that many warranties offer either a portion or the entire thing back if you do not use it. I'm not saying that this makes a it worth it in every situation, but it is something to keep in mind.
Trolling Canuckistan
Joined: Oct 2005
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From: 100 Legends Way, Boston, MA 02114
Originally Posted by dombey
Also, if you crash your car and total it - you're not gonna get that money back.
They do make a lot of money on extended warranties. If you look at the thousands of dollars they take in, then add the interest, then factor in that one way or the other they won't have to use that money for 4 years or 50K because you are still covered under the factory warranty.
Then again, if your nav unit goes at 55k, you'll be glad you have the warranty. It covers a lot of little shit like speakers, CD players (ever get a CD stuck?) bluetooth. Between heated seats, memory seating, microphones in the ceiling, tire pressure monitors in the wheels, back up camera's, theres a lot of stuff that can go wrong. I figure it's more likely to happen between 50K and 100K than between 0 and 50K.
OK, lets see who saves the most. Lets say on average I buy new car every 10 years. Lets say I buy total of 6 cars in my lifetime without extended warranty, now lets compare it to 6 cars WITH extended warranties.
Lets see who will save more money in the long run.... Yes, someone could claim that I could get a bad product, but this is not likely to happen for all 6 cars I buy
Lets see who will save more money in the long run.... Yes, someone could claim that I could get a bad product, but this is not likely to happen for all 6 cars I buy
I have never bought extended warranties for any products I bought (TVs, DVDs, VCRs and etc). I have never had any regrets.
Even if its my luck, and I can get a bad product once in a while, it is still OK.
All the money I am saving by NOT buying *extended warranties* still makes it worth while. If you do your research, its really unlikely to buy a car that will suck more than $2K between 4-7yrs or 50-100K.
Yeah sh*t happens, but consider benefits in the LONG run if you follow general philosophy in your life: NEVER BUY EXTENDED WARRANTIES
Even if its my luck, and I can get a bad product once in a while, it is still OK.
All the money I am saving by NOT buying *extended warranties* still makes it worth while. If you do your research, its really unlikely to buy a car that will suck more than $2K between 4-7yrs or 50-100K.
Yeah sh*t happens, but consider benefits in the LONG run if you follow general philosophy in your life: NEVER BUY EXTENDED WARRANTIES
The Extended Warranty is an $1800 bet in which the odds heavily favor the house. They have all of the engineering and testing data, and decades of their product's component failure history.
I agree with russianDude, put that $1800 into a good investment, let it earn interest while you're waiting to see who wins the bet. Meanwhile bet on yourself; do your scheduled services on time and with quality parts and fluids.
Seven years from now, the latest new cars will present an attractive alternative to maintaining the old one, and your investment will be worth $3145.36 @ 8% monthly -- a 75% gain.
I agree with russianDude, put that $1800 into a good investment, let it earn interest while you're waiting to see who wins the bet. Meanwhile bet on yourself; do your scheduled services on time and with quality parts and fluids.
Seven years from now, the latest new cars will present an attractive alternative to maintaining the old one, and your investment will be worth $3145.36 @ 8% monthly -- a 75% gain.
I think I'm one of the few on this board who did buy the extended warranty. The RDX is my first car, I figured it was worth it for piece of mind. Would I do it again? Probably not. Honda/Acuras are super dependable, and like everyone here has said, the chances of incurring $1800 worth of damage between the 4th-7th year is slim.
Whether I'd apply this to other products, I dunno. I've gotten extended warranties on most of my consumer/prosumer electronics and have cashed in on at least half of them. But I also run my electronics to the ground. Chances are you'll run past the 120,000km (or whatever the equivalent is in miles) on the extended warranty before the RDX seriously starts breaking down.
Whether I'd apply this to other products, I dunno. I've gotten extended warranties on most of my consumer/prosumer electronics and have cashed in on at least half of them. But I also run my electronics to the ground. Chances are you'll run past the 120,000km (or whatever the equivalent is in miles) on the extended warranty before the RDX seriously starts breaking down.
he Extended Warranty is an $1800 bet in which the odds heavily favor the house.
Any insurance (which is basically what warranties are) are in "the long rung" or with the "law of averages" a losing deal for the owner of the policy. That is not why we buy insurance of any kind. We buy it so when Mr. Murphy and his law come out and bite us on the a#$ we are covered. So yea, those who did buy the warranty probably will never use them, but there are some who will and be very happy that they got it. That peace of mind (especially to those of us who have been burned big time on other cars) is worth the extra $$$.
cheers
R
Originally Posted by Radec
So is life insurance, but there's benefit in that!!
Any insurance (which is basically what warranties are) are in "the long rung" or with the "law of averages" a losing deal for the owner of the policy. That is not why we buy insurance of any kind. We buy it so when Mr. Murphy and his law come out and bite us on the a#$ we are covered. So yea, those who did buy the warranty probably will never use them, but there are some who will and be very happy that they got it. That peace of mind (especially to those of us who have been burned big time on other cars) is worth the extra $$$.
cheers
R
Any insurance (which is basically what warranties are) are in "the long rung" or with the "law of averages" a losing deal for the owner of the policy. That is not why we buy insurance of any kind. We buy it so when Mr. Murphy and his law come out and bite us on the a#$ we are covered. So yea, those who did buy the warranty probably will never use them, but there are some who will and be very happy that they got it. That peace of mind (especially to those of us who have been burned big time on other cars) is worth the extra $$$.
cheers
R
Ask why? Very simple, the worst case senario could make you or your family bankrupt. Medical expenses could run as high as 1 million or so... But with car is different. After 4 years, your RDX will have a value of 15-17K. So this is you maximum liability, and even that is unlikely (it would mean that everything would have to get broken ???
I am sure once you spent $5K on your RDX in repairs between 4-7 yrs of ownership you will sell it (why keep money sucking car).
So it means worst case liability $5-6K, so its not end of your life vs. being stuck with medical bills of 1 mill.
Trolling Canuckistan
Joined: Oct 2005
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From: 100 Legends Way, Boston, MA 02114
Originally Posted by Boon
I think I'm one of the few on this board who did buy the extended warranty. The RDX is my first car, I figured it was worth it for piece of mind. Would I do it again? Probably not. Honda/Acuras are super dependable, and like everyone here has said, the chances of incurring $1800 worth of damage between the 4th-7th year is slim.
please, lets not bring life, health, auto insurances into a picture. Those are a must, nothing like *extended warranty*, which could be easily avoided.
So it means worst case liability $5-6K,
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