Extended warranty - worth it or waste of money?
#1
10th Gear
Thread Starter
Join Date: Feb 2003
Location: Marietta, GA
Posts: 11
Likes: 0
Received 0 Likes
on
0 Posts
Extended warranty - worth it or waste of money?
Hi everyone!
I have a '03 TL-S w/38K miles on it. All of that in a year and a half. At this rate, my factory warranty will be out by the end of the year. So with that in mind, a few questions:
1. Is it worth it to get a warranty extension?
2. If so, which warranty extension is better - Acura or non-Acura?
3. How much does Acura warranty run?
4. What factors should I look for in getting an extended warranty?
Thanks for your help guys!
Look forward to hearing from you!
I have a '03 TL-S w/38K miles on it. All of that in a year and a half. At this rate, my factory warranty will be out by the end of the year. So with that in mind, a few questions:
1. Is it worth it to get a warranty extension?
2. If so, which warranty extension is better - Acura or non-Acura?
3. How much does Acura warranty run?
4. What factors should I look for in getting an extended warranty?
Thanks for your help guys!
Look forward to hearing from you!
#2
I love cars!
Honestly, the very best thing you could do is to is set aside an "emergency fund" in, say, a money-market account. Save up in this fund, and when it's time to replace a water pump, or timing belt, the money's there. Then after the repair, rebuild the fund. This type of "extended warranty" covers EVERYTHING (Acura CAre, which I have - for $2500, doesn't cover everytihng), and YOU are earning interest on the money you save. If nothing breaks, you've got a pile of money either to keep saving or spend on something else! Really that's the safest thing to do. If you buy the warranty for $1000, and never use it, you STILL spent $1000 on "repairs", but with my plan, your $1000 is still there if the car never breaks. And with the 7/100K waranrty extension for hte tranny, the weakest link is already covered. Save your $$$. Have a smll portion direct deposited from your pay to a savings account and it'll be on automatic.
#3
I love cars!
My experience with ACura Care has been great, but I'll never pay for the thing. I got ripped on the price, but it's replace a seat heater and stereo so far. So if the stereo is 600 fo rmy '00 TL, adn the seat warmer was $270, I still have $1500 of repairs to go to make the warranty worth it. Mine expires @ 100K and my car has 88K, I think. I mainly got it in case the Navi dies, and I see 0 signs that it will in the next 12K miles, so haveing spent that money only increasd my monthly payment, and had I set aside the cash in an interest-bearing account, I would've been better off. It's a very reliable car. Be sure to check the exclusions of any warranty you look into. Don't listen when they say bumper-tobumper, because it's just not true. Light bulbs? No. Radio buttons? No. Door trim? No. Any of these things would be covered under 4/50 but typically are not with extended service plans. God luck, and I hope you go with my idea.
#5
Racer
Join Date: May 2004
Location: Las Vegas, NV
Age: 57
Posts: 279
Likes: 0
Received 0 Likes
on
0 Posts
Personally, I'd get the extended warranty. Acura's are very reliable, but repairs and parts are expensive. Plus, you can always use the EW as a selling point if you sell the car privately.
I would be wary of a non-Acura warranty. Lots of independent warranty companies folded over the last 2 years, leaving people with worthless pieces of paper. And dealer warranties tie you to that dealer, no matter how bad he is.
I used to use the car bank account idea, but on my 84 accord (first car). These days, I never have enough money
And don't bank on earning much interest - to get the best rates, you have to lock it away, then you can't get it when you need it. But if you can do it, it's a good plan too.
So, if you've done 38K in 18 months, you'll probably do the same in the next 18, taking you over 70K. If the warranty is $2500, divide by 18 - it costs the equivalent of $140 a month.
I would be wary of a non-Acura warranty. Lots of independent warranty companies folded over the last 2 years, leaving people with worthless pieces of paper. And dealer warranties tie you to that dealer, no matter how bad he is.
I used to use the car bank account idea, but on my 84 accord (first car). These days, I never have enough money
![Smile](https://acurazine.com/forums/images/smilies/smile.gif)
So, if you've done 38K in 18 months, you'll probably do the same in the next 18, taking you over 70K. If the warranty is $2500, divide by 18 - it costs the equivalent of $140 a month.
#7
10th Gear
Thread Starter
Join Date: Feb 2003
Location: Marietta, GA
Posts: 11
Likes: 0
Received 0 Likes
on
0 Posts
Where do I get the Acura Care?
Thanks for the replies!
But where would I get the Acura Care from? I asked my local dealer and he told me that I have to pay $400 just for an inspection. That has to be done before he can tell me if my car is warrantiable. Is that SOP?
How much should the Acura Care cost? Thanks!
But where would I get the Acura Care from? I asked my local dealer and he told me that I have to pay $400 just for an inspection. That has to be done before he can tell me if my car is warrantiable. Is that SOP?
How much should the Acura Care cost? Thanks!
Trending Topics
#9
I love cars!
The Acura dealer arranged financing, saying the lender "required" warranty since I was buying used, and my credit wasn't sparkling. Since I was "stuck", they gouged on teh pricing. I'd waited 2 years to get my 2000 TL; I had to have the car. I now know that lenders don't require warranties; they require you to make your loan payments.
I doubt you'll find any or many people here who's warranties have paid for themselves, which is why I advocate the emergency fund. Cars are well engineered and don't just conk out. Even Hyundai isn't scared to warrant their stuff for 100K. Why can'y Acura offer THAT?
I doubt you'll find any or many people here who's warranties have paid for themselves, which is why I advocate the emergency fund. Cars are well engineered and don't just conk out. Even Hyundai isn't scared to warrant their stuff for 100K. Why can'y Acura offer THAT?
#11
2003 TL-S NAVI BLK ON BLK
Join Date: Jun 2005
Location: Ft. Lauderdale, Florida
Age: 47
Posts: 56
Likes: 0
Received 0 Likes
on
0 Posts
I just bought a 2003 TL-S with Navi, I got the 100k "bumper to bumper" from acura care for $980 plus tax.
I bought it for piece of mind, I will probably use it for powerwindows and electrical stuff. Also, I want it for the Navi touch screen.
My credit union had the same warranty for $1800.
I am happy I guess.
I think its a nice service that they trust their cars to 100k. find a ford or chevy that will do that.
I bought it for piece of mind, I will probably use it for powerwindows and electrical stuff. Also, I want it for the Navi touch screen.
My credit union had the same warranty for $1800.
I am happy I guess.
I think its a nice service that they trust their cars to 100k. find a ford or chevy that will do that.
#12
Intermediate
Join Date: Apr 2001
Posts: 30
Likes: 0
Received 0 Likes
on
0 Posts
I've been purchasing extended warranties from my Credit Union for my past 2 Acuras. It was a lot cheaper than the Acura factory warranty. In the past I've found that the factory extended warranty is a lot easier to get approved and there is very little, if any, red tape. However, I've also compared pricing and the Credit Union warranties are 1/2 to 1/3 the price and they have more flexible terms (time or miles). So if you drive a lot, you want more miles vs more months of coverage.
When it comes time to fix a covered repair, its really your Acura Service Writer that goes to bat for you. They call and fax over the repair quote and explain why the part needs to be replaced. My Acura service guys have not had trouble working with the maintenance contract guys on repairs. 3rd party warranties tend to have deductibles of say $100, so the first $100 in repairs is yours then they pickup the rest. So the warranty caps your costs per repair item.
Its another thing for you to shop for, but considering that aggressive driving tends to break things faster, it may be worth getting the extra coverage especially if you drive hard. You must read the fine print for covered and non-covered items. For example not covered are: tires, shocks and brake pads/rotors - since these are normal wear and tear items. But items like the ABS brake system is covered, as is the A/C. So you need to consider how long you will have the car and how much the repairs might cost vs how much the maintenance contract will cost you.
When it comes time to fix a covered repair, its really your Acura Service Writer that goes to bat for you. They call and fax over the repair quote and explain why the part needs to be replaced. My Acura service guys have not had trouble working with the maintenance contract guys on repairs. 3rd party warranties tend to have deductibles of say $100, so the first $100 in repairs is yours then they pickup the rest. So the warranty caps your costs per repair item.
Its another thing for you to shop for, but considering that aggressive driving tends to break things faster, it may be worth getting the extra coverage especially if you drive hard. You must read the fine print for covered and non-covered items. For example not covered are: tires, shocks and brake pads/rotors - since these are normal wear and tear items. But items like the ABS brake system is covered, as is the A/C. So you need to consider how long you will have the car and how much the repairs might cost vs how much the maintenance contract will cost you.
#13
2003 TL-S NAVI BLK ON BLK
Join Date: Jun 2005
Location: Ft. Lauderdale, Florida
Age: 47
Posts: 56
Likes: 0
Received 0 Likes
on
0 Posts
How much for new tires on a TL-S
Originally Posted by VTEClover
I've been purchasing extended warranties from my Credit Union for my past 2 Acuras. It was a lot cheaper than the Acura factory warranty. In the past I've found that the factory extended warranty is a lot easier to get approved and there is very little, if any, red tape. However, I've also compared pricing and the Credit Union warranties are 1/2 to 1/3 the price and they have more flexible terms (time or miles). So if you drive a lot, you want more miles vs more months of coverage.
When it comes time to fix a covered repair, its really your Acura Service Writer that goes to bat for you. They call and fax over the repair quote and explain why the part needs to be replaced. My Acura service guys have not had trouble working with the maintenance contract guys on repairs. 3rd party warranties tend to have deductibles of say $100, so the first $100 in repairs is yours then they pickup the rest. So the warranty caps your costs per repair item.
Its another thing for you to shop for, but considering that aggressive driving tends to break things faster, it may be worth getting the extra coverage especially if you drive hard. You must read the fine print for covered and non-covered items. For example not covered are: tires, shocks and brake pads/rotors - since these are normal wear and tear items. But items like the ABS brake system is covered, as is the A/C. So you need to consider how long you will have the car and how much the repairs might cost vs how much the maintenance contract will cost you.
When it comes time to fix a covered repair, its really your Acura Service Writer that goes to bat for you. They call and fax over the repair quote and explain why the part needs to be replaced. My Acura service guys have not had trouble working with the maintenance contract guys on repairs. 3rd party warranties tend to have deductibles of say $100, so the first $100 in repairs is yours then they pickup the rest. So the warranty caps your costs per repair item.
Its another thing for you to shop for, but considering that aggressive driving tends to break things faster, it may be worth getting the extra coverage especially if you drive hard. You must read the fine print for covered and non-covered items. For example not covered are: tires, shocks and brake pads/rotors - since these are normal wear and tear items. But items like the ABS brake system is covered, as is the A/C. So you need to consider how long you will have the car and how much the repairs might cost vs how much the maintenance contract will cost you.
Thanks for the info! I actually saved 50% by buying the Acura Care 100k warranty than the credit unions.
Also, the credit unions was 4 years 100k, Acura was 7years/100k (wont have the car that long anyway)
The Acura 100k warranty was only $900 and the Credit union was over $1800.
Both with zero deductibles.
Any idea how much new tires cost or last on a TL-S?? I heard they are up to $250 a tire.
#15
Advanced
Join Date: Oct 2004
Location: Phoenix, AZ
Age: 48
Posts: 67
Likes: 0
Received 0 Likes
on
0 Posts
^ i think tires are around $199/each. also, keep in mind that the "acura care" warranty (extended) does not cover the interior (period!).
tires:
http://www.discounttire.com/dtcs/sea...68&rd=17&ar=50
tires:
http://www.discounttire.com/dtcs/sea...68&rd=17&ar=50
#16
ChairmanMaoSaysRTFM
iTrader: (1)
Join Date: Jan 2004
Location: Dutchess County, NY
Age: 44
Posts: 1,857
Likes: 0
Received 5 Likes
on
3 Posts
yeah i'm a little disappointed my interior is not covered, especially since i was told it would be when i bought the friggin warranty. anyways...
i think it may have been a waste of money. it's a honda for christ's sake. how often is it gonna break?
SSTS
i think it may have been a waste of money. it's a honda for christ's sake. how often is it gonna break?
SSTS
#17
bust the tranny
What if you were at 99k, and your tranny hasn't busted yet, would it be resourceful to "bust" the tranny, and how would you do it, drop it to 2nd gear when going 100 mph using ss?
Thread
Thread Starter
Forum
Replies
Last Post
spoiler900
5G TLX (2015-2020)
20
10-10-2015 06:48 PM