Extended Warranty pros and cons
#1
Drifting
Thread Starter
Extended Warranty pros and cons
Since the warranty on my 2004 TL is about to expire, I've been considering purchasing the extended warranty before March 8. My 6MT car only has 14,000 so obviously I hit the 4 year time limit well before the mileage. The engine is barely broken-in but about to go off warranty. Any comments or ideas?
#2
Moved to the LOU
iTrader: (6)
Originally Posted by JetJock
Since the warranty on my 2004 TL is about to expire, I've been considering purchasing the extended warranty before March 8. My 6MT car only has 14,000 so obviously I hit the 4 year time limit well before the mileage. The engine is barely broken-in but about to go off warranty. Any comments or ideas?
#3
Drifting
Thread Starter
I drive it when I'm home if the weather is good. It's not my daily driver so it's never seen snow or rain....don't use the windshield wipers except to clean the glass.
#4
Suzuka Master
Consumer advocates do not recommend extended warranties. Most of the time they cost more than they save. Which is why companies offer them, because they make money on the part of the warranty that is not used. That said, if it makes you feel a lot better to have that peace of mind, then get one, you cant put a price on that.
If you do get a warranty, be careful which warranty you get, and where you get your work done. I had an extended warranty on my SAAB (wynns I think) that required you to call and get approval to get work done. Things went fine till my car died and the warranty company didn't like the estimate from the saab dealer. They said I had to have it towed somewhere else and get another estimate and if they didnt like that one, I would be required to get yet another estimate. It was a huge PITA and I decided it was cheaper to spend a couple hundred than to have the car towed all over the place, which is what they were probably hoping would happen anyway.
If you do get a warranty, be careful which warranty you get, and where you get your work done. I had an extended warranty on my SAAB (wynns I think) that required you to call and get approval to get work done. Things went fine till my car died and the warranty company didn't like the estimate from the saab dealer. They said I had to have it towed somewhere else and get another estimate and if they didnt like that one, I would be required to get yet another estimate. It was a huge PITA and I decided it was cheaper to spend a couple hundred than to have the car towed all over the place, which is what they were probably hoping would happen anyway.
#5
Originally Posted by JetJock
Since the warranty on my 2004 TL is about to expire, I've been considering purchasing the extended warranty before March 8. My 6MT car only has 14,000 so obviously I hit the 4 year time limit well before the mileage. The engine is barely broken-in but about to go off warranty. Any comments or ideas?
I just bought an extended warranty from Curry Acura for my 2004 TL, I was able to take advantage of the $90 discount. Out the door it cost me $910 for an additional 2 year plan or 24,000 additional miles with a $100 deductable
I thought it was worth it, I considered buying one at signing when I bought the car and rolling it into the payments but then I thought if I didn't keep the car it would be a waste, plus at the time they wanted an additional $1200.
I plan on keeping the car at least another year or two, so it was piece of mind for me.
#7
Drifting
Thread Starter
After considering my past experiences with several Acuras, don't think I'll be getting the warranty. I've never had any major problems with any of my cars except a coolant leak in my Legend. That was cheaper to fix than the warranty price.
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#8
With any extended warranty, you should think of it as a gamble. Because extended warranties do make money for the companies that offer them, you have to assume that the risk versus reward factor is tipped their way. So as the other guys have said, generally it's not a good idea. But just when I'm done posting this, someone will say they got their money's worth out of an extended warranty. It's just that most people won't.
BTW, I did get an extended warranty from the Acura dealer for my wife's MDX. I decided 8 CV joints on the MDX made the warranty a good idea. As it turns out, two motor mounts, a starter motor and a rear strut have been replaced, and I've almost recouped my investment after 9 months. So I'm close to being one of those guys that saves money.
BTW, I did get an extended warranty from the Acura dealer for my wife's MDX. I decided 8 CV joints on the MDX made the warranty a good idea. As it turns out, two motor mounts, a starter motor and a rear strut have been replaced, and I've almost recouped my investment after 9 months. So I'm close to being one of those guys that saves money.
#9
I purchased an 06TL yesterday. The dealer is offering a 5 yr/ 60k mile extended warranty. It has a $100 deductible, which seems to be the standard. The price is about $1300. Is this something I should consider? Wouldn't replacing one computer alone cost that much?
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