Extended Warranty smart or stupid
#1
Extended Warranty smart or stupid
I am coming up on the end of my factory warranty, and it looks like I can extend to 7/100000 for a mere $1200-1300 . My last car (95 Legend) I had an extended warranty that was used once to fix the coffee cup holder. Not a good use of the cash.
I haven't had any problems so far (except the usual rattling moon roof, etc.). Tranny is fine, but that warranty is extended anyway. I am worried about stuff like the NAV that costs a lot to fix...
So- my question- How many TL folks out there have had major issues after the warranty expired? If so how much to fix?
How many have had no major problems?
If enough people answer either way, it'll be a pretty good indication-
2000 TL, Nav
Nighthawk Black Pearl w/ Ebony
I haven't had any problems so far (except the usual rattling moon roof, etc.). Tranny is fine, but that warranty is extended anyway. I am worried about stuff like the NAV that costs a lot to fix...
So- my question- How many TL folks out there have had major issues after the warranty expired? If so how much to fix?
How many have had no major problems?
If enough people answer either way, it'll be a pretty good indication-
2000 TL, Nav
Nighthawk Black Pearl w/ Ebony
#3
Team Owner
Is the extended warrantee bumper-to-bumper? Would it really cover a broken Navi?
$1200 is a lot of repair work. You'd have to break several things (water pump, alternator, heater) to cover that up front cost.
The only way you would make out is if your engine died.
Remember, there is a reason why these places sell extendended warrantees to begin with. Its to make money. Same goes with electronics. They know chances are you won't spend over that amount in repairs during the time of the warrantee.
$1200 is a lot of repair work. You'd have to break several things (water pump, alternator, heater) to cover that up front cost.
The only way you would make out is if your engine died.
Remember, there is a reason why these places sell extendended warrantees to begin with. Its to make money. Same goes with electronics. They know chances are you won't spend over that amount in repairs during the time of the warrantee.
#5
Burning Brakes
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The tranny is automatically covered for 7 years/100K miles already for most years. Honda recently made this warranty after numerous complaints. Do a search for an article about it...I'm sure someone posted here.
#6
u can also buy extended warrenties from places other than acura. they are much cheaper and still cover most of the major mechanical and electrical items
if you want the one from acura, deal with the sales guy at your dealership. just like cars, there is a markup on these as well
if you want the one from acura, deal with the sales guy at your dealership. just like cars, there is a markup on these as well
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#8
On the Odyclub.com forum there are threads containing links to Honda dealers that will sell Honda Care 7 year 100K zero deductable warranties (normally $1200 from local dealer) for $875. Anyone heard of an online Acura dealer offering this?
#9
Racer
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Re: Extended Warranty smart or stupid
fortunate2001,
Thanks for posting this thread... I'm contemplating the same issue and was going to start a similar thread.
In canada std. man. warranty for the TL is 3yr 60Kkms.
The 6yr/140Kkms ext. warranty is around CAD$1775. (with roadside assistance).
I was doing some calculations and roadside alone for 3 yrs will cost me $300 ... so thats ~1500 for the warranty. Hmmmmm.
This to me is cheap... the reason is it only takes something simple to go like A/C condenser/evap or waterpump to rack up 1000 with parts and labor (previous cars) ... but I don't know if anyone has had any of this fail on the TL ?
NOTE: in the CAN warranty the AUDIO Electronic equipment is excluded !!! please read it carefully if you are considering buying this for the NAV as it might be considered AUDIO "ELECTRONIC" equipment. I don't know cause in CAN we don't get the NAV
Another thing is we STILL have not heard anything about the ext. warranty on the infamous tranny issue for us CAN folks... so this in itself will swing my vote if nothing happens.
Anyway... I still haven't seen anybody post anything that they've had to fix outside of warranty ... so that may be a good sign. Everybody is just commenting on whether or not to get it!
Thanks for posting this thread... I'm contemplating the same issue and was going to start a similar thread.
In canada std. man. warranty for the TL is 3yr 60Kkms.
The 6yr/140Kkms ext. warranty is around CAD$1775. (with roadside assistance).
I was doing some calculations and roadside alone for 3 yrs will cost me $300 ... so thats ~1500 for the warranty. Hmmmmm.
This to me is cheap... the reason is it only takes something simple to go like A/C condenser/evap or waterpump to rack up 1000 with parts and labor (previous cars) ... but I don't know if anyone has had any of this fail on the TL ?
NOTE: in the CAN warranty the AUDIO Electronic equipment is excluded !!! please read it carefully if you are considering buying this for the NAV as it might be considered AUDIO "ELECTRONIC" equipment. I don't know cause in CAN we don't get the NAV
Another thing is we STILL have not heard anything about the ext. warranty on the infamous tranny issue for us CAN folks... so this in itself will swing my vote if nothing happens.
Anyway... I still haven't seen anybody post anything that they've had to fix outside of warranty ... so that may be a good sign. Everybody is just commenting on whether or not to get it!
#10
Burning Brakes
Extended warranties are a big money maker for the companies as they rarely have to pay out what was paid.
Save your money and skip the extended warranty. The tranny is covered to 100k.
Save your money and skip the extended warranty. The tranny is covered to 100k.
#11
Racer
Join Date: Mar 2001
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it's a gamble
It's a crap-shoot. Just remember that you can't fix much on any new car for under $1,500.
A friend of mine who was an engineer for one of the major car companies before he retired told me they put the money they get for extended warranties in the bank and pay the claims off the intrest the account makes. The rest is gravy.... in other words it's a cash cow for the companies. Doesn't mean it's not worth getting though.
A friend of mine who was an engineer for one of the major car companies before he retired told me they put the money they get for extended warranties in the bank and pay the claims off the intrest the account makes. The rest is gravy.... in other words it's a cash cow for the companies. Doesn't mean it's not worth getting though.
#13
Advanced
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Well my Extended Warranty (Warranty Gold) has saved me thousands. I'm currently getting a new card for my Nav and Acura wants $1300.00 for it (I know they're sick) and my warranty is taking care of everything with zero deductible.
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