$2,400 For the Acura 7/70 Extended Warranty?
03-20-2011, 08:40 AM
#1
Instructor
Thread Starter
$2,400 For the Acura 7/70 Extended Warranty?
In reading through a thread from last year I saw folks talking about a 10-yr/100k extended warranty for an average of $1400.
All that seems to have changed and my dealer is now offering only a 7/70 full bumper-to-bumper E/W for what seems like a horrific price of $2400, except there's a "sweetener" of a full money back at the end if you've never used it (never had a claim). This is the "Acura" manufacturer's E/W, not a 3rd party deal and everything included in the regular 4yr/50k is included in the 7/70 provided that I buy the E/W before the car is titled.
Ergo I have only a day or two to decide....
I agree $2400 for what amounts to a 3-yr extension of your full Mfr's warranty sounds exhorbitant, but the full refund if unused makes it seem a little more palitable.
The dealer F&I guy also pointed out that coverage under this offer is far more inclusive than anything that would be available to me after the car is titled. I understand his explanation, as the car is legally considered "new" only when the MCO (Manufacturer's Certificate of Origin) is first surrendured for issuance of the original owner's title.
What I'm most curious about is if anyone has done this deal and/or if there really is something better for less. With the "full refund if unused" it sounds somewhat attractive, but expensive. My experience years ago with extended warranties is they all had weasel clauses.
Other's thoughts appreciated!!
All that seems to have changed and my dealer is now offering only a 7/70 full bumper-to-bumper E/W for what seems like a horrific price of $2400, except there's a "sweetener" of a full money back at the end if you've never used it (never had a claim). This is the "Acura" manufacturer's E/W, not a 3rd party deal and everything included in the regular 4yr/50k is included in the 7/70 provided that I buy the E/W before the car is titled.
Ergo I have only a day or two to decide....
I agree $2400 for what amounts to a 3-yr extension of your full Mfr's warranty sounds exhorbitant, but the full refund if unused makes it seem a little more palitable.
The dealer F&I guy also pointed out that coverage under this offer is far more inclusive than anything that would be available to me after the car is titled. I understand his explanation, as the car is legally considered "new" only when the MCO (Manufacturer's Certificate of Origin) is first surrendured for issuance of the original owner's title.
What I'm most curious about is if anyone has done this deal and/or if there really is something better for less. With the "full refund if unused" it sounds somewhat attractive, but expensive. My experience years ago with extended warranties is they all had weasel clauses.
Other's thoughts appreciated!!
03-20-2011, 09:17 AM
#2
Burning Brakes
Move on it's not worth the price. Acura has great reliability. $2400 is just not worth it. Oh and who cares you can get a full refund within a year. It does not cost them anything to have that clause because the car is covered with the manufactures warranty. Plus most people wouldn't bother to rescind it after a year.
03-20-2011, 10:01 AM
#4
Suzuka Master
I am not trying to knock those that buy an extended warranty, but I am alway bffled. Acura has one of the best reliability records aroudn and even it you keep a car for 100K miles do you think you'll need $2400 worth of covered repairs? I am curious as to those that have purchased warranties if they trly got full value from them or is it more piece of mind? Trust me I am guilty I have purchased extended warranties on some expensive consumer electronics, but it was for piece of mind and resale sicne I tend to flip thinsg and selling a $2500 receiver in 2-3 years and saying it still has a 1 year warranty help move it.
03-20-2011, 10:52 AM
#5
isn't there a few dealers on here that sell it for much less?
03-20-2011, 11:23 AM
#6
I wouldn't buy it from John Eagle or whoever the dealer is that you're talking to. I had contacted Bob Leab at Hyannis Honda and he quoted me AcuraCare 7 yr/100k warranty for the TL at $1020 and 7 yr/125k for $1295. Both are $0 deductible plans. Contact him at bobl dot sales at hyannishonda dot com .
Last edited by lji; 03-20-2011 at 11:26 AM.
03-20-2011, 12:39 PM
#7
Instructor
Thread Starter
Thanks!
I ordinarily wouldn't dream of an ext'd warranty on any car, but a 2012 TL-Tech isn't your normal car. It is rife with extensive electronics, 5 computers (I think) and a hard drive. The Nav display alone is in excess of $5k to purchase & pay to have replaced. If we keep this buggy beyond the manufacturer's original 4/50 warranty, (as we plan to) it's still not the run-of-the-mill car that you'd ever want some shadetree mechanic working on. There's also a school of thought that goes something like, "if you can't afford to have it fixed, you probably can't afford it".
We're thankfully not in the latter situation, but I'm also just 1 year from retirement at which point the income stops and the outgo starts. An extra $1500 outlay today is a whole different matter than it would be 5 years from today. Consider an E/W something us oldsters can identify with, long-term care insurance
I agree $2400 is ridiculous for a 7/70 warranty even with a cash-back guarantee if no claims. In reality it buys me only 3yrs addt'l coverage, albeit bumper-to-bumper. I'd sooner spring for a longer term (time, not miles) with no refund than for one where I'm concerned about turning in a claim and then losing the refund. Like many of you I've also been down that all-too-familiar road where "under warranty" it's only a blown fuse and out of warranty it's a $2800 repair. Get me once, shame on you. Get me twice, shame on me.
I ordinarily wouldn't dream of an ext'd warranty on any car, but a 2012 TL-Tech isn't your normal car. It is rife with extensive electronics, 5 computers (I think) and a hard drive. The Nav display alone is in excess of $5k to purchase & pay to have replaced. If we keep this buggy beyond the manufacturer's original 4/50 warranty, (as we plan to) it's still not the run-of-the-mill car that you'd ever want some shadetree mechanic working on. There's also a school of thought that goes something like, "if you can't afford to have it fixed, you probably can't afford it".
We're thankfully not in the latter situation, but I'm also just 1 year from retirement at which point the income stops and the outgo starts. An extra $1500 outlay today is a whole different matter than it would be 5 years from today. Consider an E/W something us oldsters can identify with, long-term care insurance
I agree $2400 is ridiculous for a 7/70 warranty even with a cash-back guarantee if no claims. In reality it buys me only 3yrs addt'l coverage, albeit bumper-to-bumper. I'd sooner spring for a longer term (time, not miles) with no refund than for one where I'm concerned about turning in a claim and then losing the refund. Like many of you I've also been down that all-too-familiar road where "under warranty" it's only a blown fuse and out of warranty it's a $2800 repair. Get me once, shame on you. Get me twice, shame on me.
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03-21-2011, 04:33 PM
#9
10th Gear
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Extended warranties are profitable. Not likely for you though...
There is a reason everyone and their brother tries to sell extended warranties. They are very profitable for those that sell them. When I was young and impressionable, I bought one on my 2nd new car, a Nissan Maxima. Eventually the clutch needing replacing and the seat heating mechanism stopped working. What would the warranty cover? Nothing. Not a covered benefit. I self insure my own purchases. Much more cost effective over the long run. You buy an Acura partly for their reliability record. If there is a problem, I'll work with the dealer. If I have many expensive problems not covered by the manufacturer's warranty, I will not buy a car from them again. That is my insurance.
03-21-2011, 05:22 PM
#10
I feel strongly both ways
I purchased a 7 yr./100k warranty with $0 deductible issued directly by Honda Corp. of Amer. for $1100. It's has tghe money back provision and is transferrable. You can do this up until the car has 6000 miles on it IIRC. If the dealer's telling you it has to be done before the car is officially titled in your name he's full of crap. The price you were quoted is simply absurd.
03-21-2011, 07:36 PM
#11
Instructor
Thread Starter
I wouldn't buy it from John Eagle or whoever the dealer is that you're talking to. I had contacted Bob Leab at Hyannis Honda and he quoted me AcuraCare 7 yr/100k warranty for the TL at $1020 and 7 yr/125k for $1295. Both are $0 deductible plans. Contact him at bobl dot sales at hyannishonda dot com .
I contacted Bob Leab today and struck a deal with him for an 8yr/100,000 mile w/0 deductible Acura Care (the real deal) service plan. $1240, or approximately half what my dealer was wanting to gouge me for only a 7/70 plan *and* no sales tax ($25 below his own cost, per my local dealer...) - If that's true it would suggest Hyannis Honda is taking a small loss on their internet sales in order to increase their overall volume of Service Plans sold. Apparently each dealer has a goal or quota of achieving a certain percentage of E/W sales based on volume of new car sales.
Bob also explained that Honda Motor Co. had initially banned internet sales of their manufacturer warranties back in April '08 due to Acura and Honda dealership complaints about the bad p/r generated after customers paid through the nose for the selling dealer's E/W then later found it online for substantially less. Customers would come back in screaming. Under the compromise agreement, online dealers can still sell the Honda Care and Acura Care factory warranties, but can no longer advertise pricing. Ergo to get a price you have to request a quote which the online dealer can then send to you via email.
I also checked them out. Hyannis Honda has an A+ rating with the Better Business Bureau (BBB) and offer both Acura and Honda service plans. Internet response to my emails was also extremely prompt. The whole thing took less than an hour from requesting the quote to faxing the application back and forth and final settling-up. (The credit card info was handled over the phone). This seemed like a very positive experience.
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morbidz (06-16-2012)
03-21-2011, 08:15 PM
#12
Thanks again for this tip!
I contacted Bob Leab today and struck a deal with him for an 8yr/100,000 mile w/0 deductible Acura Care (the real deal) service plan. $1240, or approximately half what my dealer was wanting to gouge me for only a 7/70 plan *and* no sales tax ($25 below his own cost, per my local dealer...) - If that's true it would suggest Hyannis Honda is taking a small loss on their internet sales in order to increase their overall volume of Service Plans sold. Apparently each dealer has a goal or quota of achieving a certain percentage of E/W sales based on volume of new car sales.
Bob also explained that Honda Motor Co. had initially banned internet sales of their manufacturer warranties back in April '08 due to Acura and Honda dealership complaints about the bad p/r generated after customers paid through the nose for the selling dealer's E/W then later found it online for substantially less. Customers would come back in screaming. Under the compromise agreement, online dealers can still sell the Honda Care and Acura Care factory warranties, but can no longer advertise pricing. Ergo to get a price you have to request a quote which the online dealer can then send to you via email.
I also checked them out. Hyannis Honda has an A+ rating with the Better Business Bureau (BBB) and offer both Acura and Honda service plans. Internet response to my emails was also extremely prompt. The whole thing took less than an hour from requesting the quote to faxing the application back and forth and final settling-up. (The credit card info was handled over the phone). This seemed like a very positive experience.
I contacted Bob Leab today and struck a deal with him for an 8yr/100,000 mile w/0 deductible Acura Care (the real deal) service plan. $1240, or approximately half what my dealer was wanting to gouge me for only a 7/70 plan *and* no sales tax ($25 below his own cost, per my local dealer...) - If that's true it would suggest Hyannis Honda is taking a small loss on their internet sales in order to increase their overall volume of Service Plans sold. Apparently each dealer has a goal or quota of achieving a certain percentage of E/W sales based on volume of new car sales.
Bob also explained that Honda Motor Co. had initially banned internet sales of their manufacturer warranties back in April '08 due to Acura and Honda dealership complaints about the bad p/r generated after customers paid through the nose for the selling dealer's E/W then later found it online for substantially less. Customers would come back in screaming. Under the compromise agreement, online dealers can still sell the Honda Care and Acura Care factory warranties, but can no longer advertise pricing. Ergo to get a price you have to request a quote which the online dealer can then send to you via email.
I also checked them out. Hyannis Honda has an A+ rating with the Better Business Bureau (BBB) and offer both Acura and Honda service plans. Internet response to my emails was also extremely prompt. The whole thing took less than an hour from requesting the quote to faxing the application back and forth and final settling-up. (The credit card info was handled over the phone). This seemed like a very positive experience.
. I'm still debating whether to get the extended warranty or not. I've got until 6000 miles to decide... 
03-22-2011, 08:15 PM
#14
I'm Craig
iTrader: (2)
I've never been a fan of extended warranties. Theres a good chance you won't need repairs that amount to a price even near the cost of the warranty. If you do, congrats, you won the gamble. Don't buy it. If your car needs repairs between the factory warranty and 70K miles (high unlikely since it is a Honda), pay for it out of pocket. I guarantee you your car will not need $2400 in repairs before 70,000 miles.
03-22-2011, 08:41 PM
#15
Instructor
Thread Starter
03-22-2011, 08:47 PM
#16
Instructor
Thread Starter
I've never been a fan of extended warranties. Theres a good chance you won't need repairs that amount to a price even near the cost of the warranty. If you do, congrats, you won the gamble. Don't buy it. If your car needs repairs between the factory warranty and 70K miles (high unlikely since it is a Honda), pay for it out of pocket. I guarantee you your car will not need $2400 in repairs before 70,000 miles.
03-31-2011, 07:43 PM
#18
AVB for President!
I easily used at least $5000 in parts/labor that were all covered by my warranty (some before the 4yr/50k miles, some after). I think with the amount of electronics in the car, paying $1200-$1500 isn't terrible at all.
03-31-2011, 07:46 PM
#19
AVB for President!
I've had rattles fixed, speakers replaced, power window motor replaced, door trim fixed, center console trim fixed, HFL module replaced, rotor replaced, new brakes (even though it was wear and tear, it was not "wearing" properly), door lock mechanism serviced (wires became loose and needed to be re-attached), seat belt fixture (driver side) replaced (twice, in successive parts), and probably some other items I have forgotten.
Add in the cost of loaners, and the labor the stealership charges, I think paying $1200 for the extended warranty was well worth it for me.
Add in the cost of loaners, and the labor the stealership charges, I think paying $1200 for the extended warranty was well worth it for me.
04-01-2011, 09:02 PM
#20
Instructor
Thread Starter
That's the whole point, peace of mind knowing that I'm about to retire and thus planning on keeping this one. We put only 4 thousand miles a year on a car, so an 8-yr warranty on a "high tech" automobile with 5 computers & a hard drive just seems prudent (to us).
04-06-2011, 03:42 PM
#22
Advice from the master, Clark Howard:
• Buy a manufacturer's extended warranty or one from your own auto insurer. Don't buy a third-party contract.
• Don't buy an extended service contract from an automobile dealer or anyone else until you've had time to think about it and shop prices. You do not have to make this decision at the moment you're buying your vehicle.
• Buy a manufacturer's extended warranty or one from your own auto insurer. Don't buy a third-party contract.
• Don't buy an extended service contract from an automobile dealer or anyone else until you've had time to think about it and shop prices. You do not have to make this decision at the moment you're buying your vehicle.
04-06-2011, 06:17 PM
#23
That would be me....
[quote=Cap'n Preshoot;12798046]In reading through a thread from last year I saw folks talking about a 10-yr/100k extended warranty for an average of $1400. quote]
That would be me. I got 10 years, 100K bumper to bumper for $1400, $100 deductable, transferable.. That sealed the deal for me from the dealer. SH-AWD, Tech, Wheel Lock's, mud guards, trunk liner, rear three windows tinted, $38,150.00 plus the $1400, plus Tax. .9% interest. No trade in, $20K down Good luck getting a better deal!!
Spent 3 hours waxing the TL this weekend, GOD I LOVE THIS CAR!!! Back in Feb 2010 I liked the look so much, that I decided not to get a Honda Accord V6 EXL, and spend the extra money for the TL... If the 2010 looked like the 2012, I would have stayed with the Honda, I like the Edgy Look all the way plus all the other GREAT STUFF about this car!
That would be me. I got 10 years, 100K bumper to bumper for $1400, $100 deductable, transferable.. That sealed the deal for me from the dealer. SH-AWD, Tech, Wheel Lock's, mud guards, trunk liner, rear three windows tinted, $38,150.00 plus the $1400, plus Tax. .9% interest. No trade in, $20K down
Good luck getting a better deal!!Spent 3 hours waxing the TL this weekend, GOD I LOVE THIS CAR!!! Back in Feb 2010 I liked the look so much, that I decided not to get a Honda Accord V6 EXL, and spend the extra money for the TL... If the 2010 looked like the 2012, I would have stayed with the Honda, I like the Edgy Look all the way plus all the other GREAT STUFF about this car!
04-06-2011, 06:33 PM
#24
same here i've never heard it to be that much.........i didnt purchase extended on mines because i figure i wont have it past the M/W .....but if i see i will still have it i will purchase the extended.......i only purchased extended in one case and that was when i bought the CPO TL i had last.......
extended has it's up's and downs they will fix what needs to be fixed but alot of dealers get tired of seeing you come in without having to pay out of pocket ......even though u initially did ......and try to cut corners .......
i would say the 2500 is not worth it IMO
extended has it's up's and downs they will fix what needs to be fixed but alot of dealers get tired of seeing you come in without having to pay out of pocket ......even though u initially did ......and try to cut corners .......
i would say the 2500 is not worth it IMO
04-06-2011, 06:39 PM
#25
depends .......i purchased my 06 TL CPO and paid for the extended.... don't think it was that much though...............and when i added up all the repairs that .......i had taken that car in for out of curiosity ..........believe me that extended was well worth it.......
with a new car i don't think it's worth it unless you know you are going to rag the hell out of that car.........but as you said it's always that peice of mind we naturally look for .................i didnt purchase it on this TL because i got it brand new ....but did say i would before M/W ran out if i seen i would have it longer than that period of time.........
with a new car i don't think it's worth it unless you know you are going to rag the hell out of that car.........but as you said it's always that peice of mind we naturally look for .................i didnt purchase it on this TL because i got it brand new ....but did say i would before M/W ran out if i seen i would have it longer than that period of time.........
04-06-2011, 07:46 PM
#26
Instructor
I've never been a fan of extended warranties. There is a good chance you won't need repairs that amount to a price even near the cost of the warranty. If you do, congrats, you won the gamble. Don't buy it. If your car needs repairs between the factory warranty and 70K miles (high unlikely since it is a Honda), pay for it out of pocket. I guarantee you your car will not need $2400 in repairs before 70,000 miles.
Looking back at my '01 MDX with 117,000 miles, the only item that would have been covered was the alternator that I just replaced for $630. The other items such as major services (timing belt, water pump, etc.) are not a part of the warranty UNLESS those break due to other components failing.
While I am certain there examples out there where someone benefited from one, it can't be a high percentage. Just notice how excited the finance guy is when he tries to sell it to you ..... must be good for someone!
04-06-2011, 10:13 PM
#27
9th Gear
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IMHO, I think you nailed it when you said it really comes down to "peace of mind". Insurance is really gamble vs. cost. For me personally, my wife and I just purchased our 3rd TL (2011, TL with Tech package). My last car was a 2002 TL Type S and had to have 2 transmissions replaced by 120,000 miles.
We were given the same story at the dealers and we decided to spring for the extended warranty with the explaination that if not used, we'd get our money back. Personally, I like peace of mind. Good luck!
We were given the same story at the dealers and we decided to spring for the extended warranty with the explaination that if not used, we'd get our money back. Personally, I like peace of mind. Good luck!
04-19-2011, 08:23 PM
#29
Instructor
Thread Starter
There is typically 100% profit/mark-up in the ext'd warranty when obtained through your selling dealer at time of purchase. What the F&I guy doesn't want you to know is that you can buy the exact same identical Acura Care extended warranty at his cost from several dealerships online. My dealer wanted $2400 for 7yr/70,000 miles. I bought 8yr/100,000/no deductible Acura Care (the real McCoy) online for $1240.
04-19-2011, 09:30 PM
#30
an adult perspective
I just hit the 50k mark on my 2010 today. I had over 180k miles on my '90 Legend, and traded my '03 CL-S with 221k miles on the clock. No extended warranty purchased for any of them. And when I had a few issues with the CL (Sunroof noise, blown ballast) well after the expiration of the 50k manufacturers warranty, the servicing dealer always took care of me gratis, which meant in the case of the ballast a free $800 replacement unit (and I didn't even buy my car from them). Save your money.
06-28-2011, 11:00 PM
#31
Bump! After contemplating about buying the extended warranty, I ended up buying the 7yr/100k, $0 deductible AcuraCare warranty from Bob Leab @ Hyannis Honda a few hundred miles before I hit 6000 miles. After months of contemplation, I decided to go ahead & buy it for the extra peace of mind.
Last edited by lji; 06-28-2011 at 11:03 PM.
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doctorgonzo99 (07-08-2011)
06-29-2011, 10:50 PM
#32
Advanced
Bump! After contemplating about buying the extended warranty, I ended up buying the 7yr/100k, $0 deductible AcuraCare warranty from Bob Leab @ Hyannis Honda a few hundred miles before I hit 6000 miles. After months of contemplation, I decided to go ahead & buy it for the extra peace of mind.
06-30-2011, 12:47 PM
#33
^ $1,020
07-04-2011, 07:39 PM
#34
Instructor
Thread Starter
Bob Leab @ Hyannis Honda is a square-shooter. Someone recommended him to me and I have since sent several others his way. It's a little scary spending a grand or more online with someone you don't know from Adam, and buying an "Acura" warranty when the paperwork you fill out says "Honda, but it's the genuine article.
07-04-2011, 11:14 PM
#35
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doctorgonzo99 (07-08-2011)
07-08-2011, 06:16 AM
#37
Thanks!
New to the forum here -- great site!
Just bought a '12 TL AWD w/Tech about two weeks ago...loving the car. Stumbled upon this thread and confirmed my suspicion that I was ripped when I bought my ext. warranty at POS. After seeing your posts here, I'll be going back to the dealer to cancel my warranty and repurchase elsewhere (if the dealer won't match these prices here). I think I read I have 60 days to cancel the purchase??
Thanks for the info here and likely saving me hundreds!
Just bought a '12 TL AWD w/Tech about two weeks ago...loving the car. Stumbled upon this thread and confirmed my suspicion that I was ripped when I bought my ext. warranty at POS. After seeing your posts here, I'll be going back to the dealer to cancel my warranty and repurchase elsewhere (if the dealer won't match these prices here). I think I read I have 60 days to cancel the purchase??
Thanks for the info here and likely saving me hundreds!
12-02-2011, 12:57 AM
#38
Instructor
I know this is an old thread and not sure who will still be checking it. But, I still wanted to as for a little help with a question. What options, if any, are available for me? A month ago, I purchased an '09 CPO SH-AWD TL w/Tech. The car had 57k miles on it...58k now. I know I'm covered for the 12 months. But, what happens after that? Is it too late for me to get some type of coverage? Thanks in advance!
12-02-2011, 10:44 AM
#39
Moderator
you dont need it, honda engines are very reliable.
you will probably hit a major issue even before your original warranty expires.. and that will be covered within warranty that came with the car.
you will probably hit a major issue even before your original warranty expires.. and that will be covered within warranty that came with the car.
12-02-2011, 10:44 AM
#40
Moderator
I know this is an old thread and not sure who will still be checking it. But, I still wanted to as for a little help with a question. What options, if any, are available for me? A month ago, I purchased an '09 CPO SH-AWD TL w/Tech. The car had 57k miles on it...58k now. I know I'm covered for the 12 months. But, what happens after that? Is it too late for me to get some type of coverage? Thanks in advance!
it really depends on how much they are offering you..