I have a 2003 MDX with 47,000 miles on it, I bought in 6/2003. Warranty still in effect. So I spoke to Tim at HONDA ACURA WORLD. They have the best price on warranty. For another 48 months and 48,000 miles it would run $1800 ( $100 deductable) only way you can get it for this car. I asked best to buy now or wait till my mileage is almost 50,000 and before 6/2007. Tim said wait. You will get a few thousand more miles and more months. So I have this car figured out. When I look at how much a new MDX extended warranty would cost its $2100, the time is the same just less mileage now vs buying when new and deductable difference. I think, I would say I saved money by waiting.

Now with the new 2006 RL, I see everyone buying the extended warranty now, vs later. I am questioning what am I missing? The RL today with ($0 deductable) is $1585 for 8 yrs/120k miles. So why not wait? It could be less money and I may or may not have car in 4 years. Thanks for your help

 

I dont understand why it would be cheaper to buy an extended warrenty by putting more miles on the car. I am also in the process of looking for one and it does seem that hondacuraworld's got the best prices. I still have until 6k miles before I get a good deal.

Please enlighten me on why it would be cheaper to wait. Thanks.

 

^ I did the exact same thing, the wording on these warranties are bogus. For example, I was being pushed by one dealer to get the extended warranty (5 years) now. The warranty starts from Day 1 of the purchase. Am I really getting 5 years? No. I'm really only getting 3 years since I have 2 years remaining on my regular warranty.

All of these warranties have caps. The 5 year caps at 30k, meaning you have up to 30k miles to get this warranty. If you go over 30k miles, then you are ineligible for this one, and have to get a different package (which probably costs more $$$$). So with that said, I will be purchasing this warranty at the end of 2007. If I get to 30k miles before Dec, 2007..... well, I'll purchase it then. But until then, I'm gaining an extra year and keeping the same price.

As far as those paying for the 7 year policies when buying the car, really, you are paying for 3 additional years. Some people think you have the normal 4 year, then an additional 7. lol! My suggestion, Compare the prices of 3 year warranties before you jump on the extended 7 year warranty right off the bat.

 

See my response. I think I answered your question. But let me give you another example:

60 month/100k warranty: You are eligible if you have between 6,001 miles- 30 k miles

See the range? If you WAIT until you approach the cap of 30k miles, then the 60 month/100k warranty starts then. If you purchase it right away, then you potentially lose out on time since the warranty starts right when you purchase the car. I won't put too many miles on my RL< so it makes sense to wait until the cap.

 

I got an 8 yr/120K extended warranty from my dealership and the price was based on Tim's website. In other words, the dealer matched Tim's price. These are the reasons why I bought it now and not later:

1. The dealer offered an 18 month payment plan with NO interest for the life of the loan. I'm not sure if this will be available later on.
2. Is there a chance they could increrase the premium at a later date? We all know this could only go up and not down. I did not want to take that risk.

If you think you are going to keep the car for 3 or 4 years, then there is NO reason why one should purchase the extended warranty....unless of course it is used to entice a buyer and make it part of a deal.

 

I dont know that it will be. It seems to be in this case. Thats why I am asking? before I buy one for 2006 RL. In my case on the 2003 MDX if I look at what Hondaacuraworld wants today for a 2006 MDX which is $2100. Now the 2003 MDX is $1800. Sure instead of 120,000 miles its 95,000 miles and instead of 8 years it is going to be 7 years 11months and the deductable is $100 vs $0. So I guess this is how you have to weigh this extended warranty. But it still fits my needs. I guess you either buy before the 6000 mile or you buy just before original warranty runs out. My other question is what happens if the car lo nonger belongs to you for what ever reason befor the extende warranty starts. Do you get your money back? or do you lose? I dont have the answers I am just trying to figure this thing out. Your not getting 8 years and 120,000 miles when you buy that cause you already have 4 years, 50,000 so you are buying 4 years and 70,000 miles.

 

I like your points and I understand. Yes the rates could go up and I would expect them too, thats what surpises me with my MDX. You say risk what happens to this warranty if you car is totaled, stolen, or you sell it? Does the insurance compamny give you cash for this? Surely the extended warranty is a selling point, but I have never seen it listed in the kelly blue book as having a value. So aren't you rolling the dice that you will have the car longer than 4 years 50,000 miles. and paying now for something you cant use for 4 years?

 

You have to make a determination if you're going to hit the miles first or the time. I paid $1,100 for a 7yr/100K mile warranty. Yes it begins the day I bought the car, but I'm gambling that I'll hit the mileage before the time. Regardless of whether I purchase now or later, it seems as though the cap is either 100K or 120K.

You paid $2,100 for a warranty that will basically give you the same coverage (up to 100K). By waiting I'm not saving anything since the miles are what they are, and based on what you'll be paying for close to 100K miles of coverage you paid more for the same coverage. I think the warranty is a bit more because you're buying it for a used car.

 

Do you know what happens if you buy the extended now and the car say gets totaled or stolen. Are you just out that $$$$?

 

You can request a refund. I am in the process of getting a refund for the extended warranty I purchased for my TL. I called Tim at HAW, from whom I bought, and he sends the info to Honda of America, then they issue a check prorated for the number of miles used.

 

Is that prorated part for miles over the 50,000 miles 4year warranty?