EscaBoi

Hey guys I've got a dilemma and would appreciate your input. I just bought a 2005 TSX with Navi. I negotiated a price with the dealer on Monday and put down an $1100 down payment. The car is to be ready either tomorrow (Friday) or Tuesday for sure. Now today I get a call from one of the associates at the dealership asking me if I want the extended warranty/bumper to bumper which will cover up to 6 years/160,000 km for $1300 - reduced from $1800 cause it's a Certified Pre-Owned.

Well because it's a CPO it will come with the 6 year/160,000km Power Train warranty, but the extended warranty is extra. Is it worth the extra money for the extended warranty you guys think? I was able to negotiate down to $400/mth for my payments, which I did not want to go over. But now this throws a curve ball into the whole mix and would bump it up to $420/mth. I'd want to get it for piece of mind, but at the same time am thinking if it's worth the extra dollars. Your input is appreciated.

T-Chuck

I'm kind of on the fence about buying the increased warranty on my car too. Mine is an 08 though. I drive 30,000+ km per year, so the basic warranty will km-out before it reaches 4 years which has me pondering the 5 yr/130km for $1058. I have the "Acura Plus extended security plan" price list for the 07 and newer models; the 6/160km retails at $1438.

There's nothing to stop you countering their "offer" with a lower price. The local consumer affairs guy on CTV here that recycles the Consumer Reports findings did something on extended warranties a while back. The average consumer gets $700 of value from their warranty (if I recall correctly), and that's more likely to be two owners that got nothing, and one that had a $2100 claim. Keep in mind, there's all those "less reliable marques" bringing up the average - Honda is not known for building problematic cars.

There are many threads on this board about the pros and cons - basically it comes down to piece of mind for your money. That's a "value" only you can assign. If it's worth $20/month for that get it; if not, tell them what you think it's worth and maybe they'll give it to you for that. If you're confident in Honda's product and think it's wasted money tell them thanks but no thanks.

You've got the big $ items on the powertrain covered. What's left is really accessories and Navi (if you have it).

BTW - there's a note at the bottom of the price list "Dealers may sell for less and in doing so, will not suffer in their business relations with Honda Canada Inc."

EscaBoi

I see. I'm actually the opposite of you, where I don't drive as many kilometers and will be probably only hit 140k km in that time.

I'm also planning on getting an after market alarm, looking at a Viper or Compustar, so I'm wondering if this would possibly void the warrantyl.

miner

I have bought an extended warranty on all of my cars since 1995 and each have paid out. FWIW, all cars have been Honda/Acura brand. Do not get an aftermarket warranty, make sure it is backed by Acura. You doo need to follow the maintenance schedule though or you may find the warranty won't cover repairs.

LuvMyTSX

Well, the regular CPO bumper to bumper warranty is 5 years, so you are basically paying $1300 to extend that warranty another year to 6 years. That seems kind of pricey for one extra year of coverage.

I just realized you are not in the US. Maybe it's different for you, I'm not sure.

Destrejc

If you can afford it, It doesn't hurt to get it.

SSFTSX

New Acura bumper to bumber 4 year /50,000 Miles
Add CPO 1 year/12,000 miles
Add extended warranty 7 year/100,000 miles bumper to bumper.(reality 2year/38,000 miles)
when you are financin it it is better to have the extended warranty. it is transferrable and it gives you extra 2 years or 38,000 miles and cost is spread out over the length of the loan which is often cheaper than regularly paying through credit card or cash in long term at some future unknown date. Purchasing extended warranty from dealer with CPO car also gives better long term relationship in servicing and discounts. so it is better to give that margin to dealer.

EscaBoi

For us in Canada we only get the CPO powertrain warranty. The bumper to bumper is the extra that they called me about. It sounds like a good investment so I'll most likely get it, the problem now is trying to get the price of it down once again. If not, at least try to ask for a 1 or 2 year bumper to bumper warranty

taz98spin

When did this New warranty take place?

I bought a new car back in May of 2006, and was wondering what kind of warranty Acura offered (s). I did purchase extended warranty, but still just wondering.

davidspalding

I got it on mine, but because with 35,000 miles on it in only 15 months, the CPO warranty (US) was going to run out before the car was paid off (48 month term). (Averaging 12,000 to 18,000 miles a year, I guesstimated that I'd run out of mileage at roughly 2 years after my purchase.)

Though Acuras (Hondas) are highy, highly reliable, I could "bet" that nothing would happen needing repair, but I also liked the security of knowing the anything electrical or mechanical or elsewhere that breaks would be covered. So I coughed up $1100 or so more to extent to 6 years (March, 2012) or 100,000 miles. Basically, I anticipate hitting the mileage anniversary before the calendar anniversary. It would be different for a lower mileage car (at time of purchase).

Your coverage plans may differ up there, but here, they start from the car's original date of service. So if the car's been in service for 30 months, you've got 18 months more coverage with the factory warranty. Extending that to 72 months ... does that make sense for you? Or would you rather pay for things that need repairing out of pocket?

Way to figure it the way I do ... figure out your average yearly mileage ... figure out how many more miles/year that factory warranty will last under your ownership ... and then determine if you need the extra years, or the extra miles. (That is, they offered me a 6 year/100,000 BTB warranty, and a 7 year/100,000 BTB warranty for $100 or so more.) Remember that some things like climate control, audio system, moonroof repair ... the labor can add up fast.

davidspalding

I have a 2006 ... I believe my factory warranty was 4 years/50,000 miles (just crossed 50,000 BTW, woot!) and teh CPO warranty I got on mine extended it 5 years (from service)/62,000 miles. Someone (Colin) correct me if I'm remembering wrong. My CPO PDF files are at home.

You ought to have your extended warranty info somewhere. I got a letter from Acura, and a card from the Hendrick Auto Group for the extended part.

1Louder

I've purchased two extended warranties for Honda and didn't use either. However, that's not to say it's a bad idea. I think if you believe you will own the car that long, and you have the money, it's not a bad idea.

925tsx

I didnt read the whole thread, but id say yes, get the extended warranty.
Ive bought extended warranties on both my TSX's and didnt pay full price for either.
i think i paid like 900 and change for the extended.

Chadwick

I bought one for my '04. I still have 12k kms left on my factory powertrain, but I still purchased an extended warranty for the stuff that ran out on the standard warranty.
One of the bigger selling points for me was I can take any warranty repairs to my regular mechanic. I believe it's a $400 deductable through him, $300 if I take it to the dealership where I bought the car. I don't mind paying an extra $100 for the piece of mind of NOT taking it to a dealership though.

taz98spin

Yeah, I moved at the beginning of this year, and have all my files stored somewhere in my closet I'll have to dig for it this weekend I guess.

Thanks for the info!

808havok_tsx

i always get the extended warranty on all my cars. its an extra cost obviously, but, i've had decently sized ticket items fixed under the extended warranty period. idle valve replaced, glass+fixture fixed, etc. the one car i didn't have warranty under, i had to replace the entire radiator. believe me, the extended warranty is worth the sound sleep - that is assuming your dealership's service is decent of course and is near-hassle free.

EscaBoi

Ended up getting the warranty, the business manager was able to knock off another $200 for me. So I'm paying $1100 for it instead for 7 year/ 160,000km. Can't wait, I get the car on Tuesday

jswim99

No way on the extended warranties. You're paying for piece of mind, that's all. It's an emotional purchase, not a rational one. Trust me, the warranty companies have done the math--you lose. I say this every time a extended warranty thread pops up, but not too many people think rationally around here when it comes to warranties. Sorry to be a b_tch about it, but it's true.

The only reason to buy an extended warranty is if you don't think you could afford to pay for repairs yourself down the road--if this is the case you need to buy a cheaper car.

Anytime a car dealer pushes something on you, think about their motivation for a minute before you buy their BS.

Also, it's a bad idea to buy a car based on the payment.

davidspalding

Well, I don't see a lot of evidence in your post, but there are some times when an extended warranty pays for itself. Happened to me 5 years ago with a Sienna minivan whose CD changer died a few months out of the factory warranty. Repair paid for the extended warranty. Dunno if this will happen with this car, but I was willing to gamble. I have less than a year on my CPO warranty.

You ARE right about the payment ... set your budget, THEN look for cars. Don't fall in love with a car then try to sell yourself on being able to afford it. There be dragons there....

jswim99

Yes, sometimes for a single car the extended warranty will be worth it, no doubt. However, over your lifetime of buying cars, you will be padding the wallets of the warranty companies, guaranteed. Like somebody mentioned above, check consumer reports, they agree with me.

Also, some folks make the argument that an extended warranty is better for less reliable cars--well guess what--the warranty companies simply adjust the price so that it all works out in their favor.

I value my time pretty highly, so I chose to buy the most reliable brand available, (without an extended warranty) so I spend very little time at the shop.

It just frustrates me when people fall for what's clearly an emotional purchase that salespeople disguise as the "smart thing to do".

club_euro2

Has anyone one bought extended warranty online? Is 1800 a fair price for a 8yr/120k Zero Deductible. Has anyone bought the extended warranty from this dealer, Saccui Honda? I am at 5900 miles now and would like to get it before i hit the 6000 mile mark.
http://www.myhondawarranty.com/plans...&Submit=Submit

Thanks,
Umair

larryziegler

On a smaller scale, a son of one of my friendly competitors was a salesperson at a major electronics chain, selling tv's, computers, stereo equip, etc. His income from commssions of extended warranty sales of these items was $5,000/month. And he wasn't even a full time employee.....he was a college student at the time working about 24-30hrs/week. This tells you how much money is made with the sale of these products.

EscaBoi

jswim makes a good point as well, about the warranty not being used and saving up for future repairs. It's got me thinking now, though I told Acura I would take the extended warranty I could also go in and just change my mind. Right now I'm on the fence again... lol. Anyways, I know one things for sure, I'm going to replace the battery most likely with an Optima or aftermarket one and not the OEM one cause I can feel it was having a bit of trouble when starting. And I'm looking to possibly spend $500 or so on a new alarm.

These were the service records I was given when I was looking at the car originally, anything I should worried about or concerned?

davidspalding

Oh, now we're talking about over a lifetime, not any particular purchase. Uh-huh. Agreed.

Wasted energy. Just respect others' opinions as they're respecting yours, and frustration dissipates. Maybe it's a "smart thing to do" for other buyers, as I thought I made clear with my calculations. Emotional, my eye.

jswim99

It's not opinion--it's fact. You're wasting money on extended warranties, plain and simple. But go ahead and keep buying them...

jswim99

I didn't mean for my comments to insult you or make you or others feel stupid for your warranty purchase--I'm just trying to keep people from getting ripped off and save them some money.

I guess if people like you actually _want_ to get ripped off there's not much I can do...

Good luck with the warranties.

davidspalding

Your attempts to attack the idea without attacking the person ... are falling short. Welcome to my ignore list.

BTW, if you've read the thread, you're outnumbered by those of us who actually HAVE had payouts under an extended warranty.

larryziegler

There are always people who have had payouts with extended warranties, but there are far more who don't, otherwise the warranty cost would go up. It's your money.......spend it as you please, but extended warranties are a poor buy, economically speaking. I'm taking an educated guess here, but my assumption of risk that Honda takes is for every $1,000 in payment they receive, they actually pay out $100-$200 in warranty benefits. In the normal insurance world, the expected payout would be $500-$600 per $1,000 collected, such as your car insurance premium, but warranty products definitely produce higher profit margins. The actuaries are very good at figuring out their own level of quality, and failures in production that are expected to cause early unexpected failures. The future value of money is also taken into account, since the warranty is paid up front and benefits begin several years later, as well, as the variables of whether the original owner actually keeps the car past the new car warranty period or something catastrophic, such as an accident or theft, takes the car off the road before the warranty period is up. I agree, there is no room for emotionally based comments here, so people need to do what makes them feel more comfortable about the risk they take owning mechanized products and if the purchase of an extended warranty makes one sleep better at night, so be it. To be honest, the purchase of any new car is economic stupidity, as they depreciate over time.....but then there would be no used cars to buy either.

jswim99

Being outnumbered means that I have my work cut out for me! So much money to be saved!

Again, I'm sorry if my comments make you feel stupid that you bought an extended warranty. You're obviously a lost cause; I'm legitimately trying so save other people some money.

I have a problem with folks that encourage others to join the "sucker bandwagon," though, and that's exactly what you're doing. Just because you made a bad decision doesn't mean that other AZ people need to. Then again, maybe you work for a warranty company...

I completely agree with Larry; if you want to say that you buy the extended warranty out of emotion and it makes you feel better, that's fine. I will happily admit that my TSX purchase was an emotional one--I don't _need_ a $25k car to commute to work. However, trying to back your decision up with a rational argument doesn't work and deceives the readers on this board who may not know much about warranties.

Buying extended warranties is gambling, and the house always wins.

gpayne13

My 04 TSX airconditioner compressor and clutch gave up the ghost at 63K this weekend, to the tune of $1300. I take care of this car so I don't understand why this would crap out at 63K. I didn't buy the extended warranty because this is the 3rd Acura, and I had two Hondas, and NEVER had problems with the AC.

davidspalding

Yep, yep. And in the case of purchasing a 15 month old car with 35,000 miles on it, I felt an extension of the bumper-to-bumper warranty was a reasonable addition since I plan to have it 48 - 60 months (at least), logging roughly 60,000 - 75,000 miles on it .. which would put well past the factory + CPO warranties. Granted, the 2006 may have statistically fewer problems than the 2004, but it'll only take one a/c failure, or a audio head unit going TU, or tranny issue, to make me glad I'd placed the bet. I've already had something fixed under the factory warranty, so I'm not worried. I'm only irked that the dealer sold me their own extension, when the brochure clearly read "Acura Extended Warranty."

kipsy

i pricematched between hondacuraworld.com (which has quotes right online) and pohanka honda acura. i got the 8 yr 120k miles btb warranty for around $1300.

i had the toyota platinum warranty on my 99 corolla, and used over 5k in claims. egr valve, wiper motor, head gasket, chain tensioners, steering pump x 2. even got rentals.

vthree

iTrader: (1)

hmm would my cpo cover if i shorted something? also i remember hearing bumper to bumper when i got my car.. does that cover my rear bumper getting scratched? lol.. my warranty is almost up... im at 56k...

LuvMyTSX

CPO bumper to bumper warranty should be 5 years/62k miles. Drivetrain warranty is a bit longer....I think 7 years but I can't remember the mileage. So yeah, as long as you are under 5 years/62k miles, a short should be covered.

davidspalding

Um ... bumper-to-bumper doesn't generally cover physical damage to the actual bumper if you scratch it on something. It's a phrase that means "just about everything from nose to tail."

vthree

iTrader: (1)

are you sure???? im worried. i mean the whole wire got shorted b.c of my footwell lighting mod.... would i be deemed a bumper replacement too since its been scratched??? i'm really curious as to how this certified pre-owned warranty works. i know at bb. we sell accidental performance service plans.. but i have a huge feeling this is different

davidspalding

Are you really thinking that a "bumper to bumper" warranty protects your actual bumper from incidental scratches? If so, your warranty agreement. You have it in your paperwork.

I believe the drivetrain warranty on CPO extends to 100,000. I bought an extension that takes my bumper to bumper coverage for 6 years from date of service and 100,000 so all my little bulbs or door actuators or console gizmos (okay, maybe not the bulbs) are covered.

If you modded something and that led to a failure, I doubt that's covered. Your service manager is best suited to tell you what's going to be covered, after examining it. Our crystal balls only work for some much.