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Honda Extended Warranties Pricing and Info

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Comments

  • dwynnedwynne Posts: 4,018
    I you would read the message about 3 up from the one you posted you would see than byzy posted the cheapest online place I have seen yet:

    www.hondawarrantyinfo.com

    7 years/75,000 miles warranty: ($50 deductible = $845.00) OR ($0 deductible = $890.00)


    If you want the 100k plan you will have to get your own quote.

    If you read the other recent messages you will see that you have until your new car is 24 months old or has 24k miles on it to buy the warranty without paying an extra fee (currently $60). So there is no rush to buy.

    Congrats on the new S! I have a new formula red 2001 and I LOVE MINE. I purchased the HondaCare $0/7/75 warranty for mine right at the 24/24k point. At that time it was about $800.

    Dennis
  • jimg6jimg6 Posts: 15
    Dennis,

    Thanks for the info. I just priced a 5yr/60k warranty from hondawarrantyinfo.com for $600! That's much lower than the dealers 'sale price' of $1500 (original cost of $2400). Do you recommend that I get the warranty now or right before the original warranty will expire?

    Jim
  • dwynnedwynne Posts: 4,018
    If you look back up several messages we are talking about this very thing.

    Unless the price goes up (and who knows when that might happen?) it will cost you the same price 23 months and 29 days from the date you purchase your car as it will right now. If you wait past that date, but before 3/36k it is only $60 more.

    If your car is totalled, stolen, or you trade it in you can cancel the warranty for a pro-rated refund. The pro-rate is based on the months and miles you have used since you purchased it. So buying late = larger refund.

    The argument in favor of getting now is that you are protected from price increases and you get the car rental and roadside stuff NOW if you buy now.

    Dennis
  • jimg6jimg6 Posts: 15
    Thanks again. This is much clearer than what was written above. I didn't know you could get a refund on the unused portion of the extended warranty. We had an 2003 Honda Pilot that we just traded in for a VW. I would have used it for the S2000 instead. Oh well.
  • dwynnedwynne Posts: 4,018
    Did you have the extended on the Pilot? If so and you didn't sign a HondaCare transfer agreement then you can still cancel it and get a refund. HC is unique in that if the purchaser does not agree to the transfer then it does the next buyer no good. Also if the transaction goes through a dealer then it can't (in theory) be transferred. The next buyer could buy their own policy and then the truck would have two on it, yours and theirs but only theirs could be used by THEM. Yours would just stay on there "forever" unless you cancel it.

    Dennis
  • tom25tom25 Posts: 17
    Could you please share with us where do you get this price?

    Thanks,
  • jimg6jimg6 Posts: 15
    Dennis,

    We traded in the Pilot on March 30 to a non-Honda dealer. We had the extended warranty on the vehicle however. Who would I call to cancel the warranty, granted I can still cancel without the vehicle? Would I have to buy an extended warrantly for the S2000 if I get a refund? Thanks. Jim
  • dwynnedwynne Posts: 4,018
    You can call Honda Care Customer service at (800) 999-5901 and tell them you need to cancel the warranty. You will need the VIN number and you MIGHT need a copy of the odometer statement and bill of sale (showing you traded it in). The pro-rate is based on miles you drove and/or month you had it.

    You do not need to get the S2000 warranty now to get a refund, they will just mail you a check for the amount due back to you.

    Like I said, as soon as you trader the Pilot your HondaCare warranty became invalid - since it can't be transferred through a dealer. So there is no reason they would not give your money back. You could get it back even if you sold it to someone yourself, as long as you did not sign a transfer letter to the new owner.

    Dennis
  • lexielexie Posts: 45
    I have the Accord. The price at Jay Honda is $795 for 7/100K and $720 for 7/75K. I think I will got with the latter as I do not drive that much. The Honda dealership in Lone Tree, CO told me that I cannot buy another Honda Care for the same car. American Honda told me that I can cancel and buy another within 3/36K and was not sure why the dealership would tell me that. AH told me to call them to confirm to the dealer at the time of the signing if I was still uncertain. I called several times the dealership and left messages and yet to get a call back. Great customer service.
  • sshedgysshedgy Posts: 2
    I have been a Honda customer for my last four vehicles and most likely will be for my next one. When I bought my 99 Odyssey I opted for the extended warranty. Believe me, it has more than paid for itself!!!! I purchased the EW because this was a first year newly redesigned model and there was no information about its reliability but for Honda's reputation. It has had a ton of recalls and several repairs that would have been out of pocket but for the EW. I was also able to use the EW to rent a car while my vehicle sat disable for a week waiting for a part to come in!

    I will definately buy one again for my next new Honda!
  • I just purchased a 2005 Pilot EX-L, and decided not to purchase a extended warranty. Actually never entered my mind to do so. My first Honda went 120K miles and never saw the shop other than regular maintenance. Every car needs that, if you know of one that doesn't please let me know.

    I believe extended warranties are generally a real bad investment. Your typically covered for the first 3 years 36K from the factory. Why would you plunk down $1000- 1500 for a warranty that doesn't begin to take effect on a new vehicle until the 3/36 warranty expires?? If you have a real problematic vehicle under for the first 3 years of ownership I'd be all over the dealer and car manufacturer for this.
    Lets also not forget that in this case your 7 yrs/75K warranty your buying is really a 4 yrs/39K warranty, pretty $$$$ I think. Remember I bet you considered your Honda because of there long reputation for reliability. That is certainly one of the reasons why I purchased another Honda myself.
  • Your point is well made. I started this thread just to get a sense for what other Honda owners are thinking/doing. Thanks to all for their responses.

    My concerns stem from the fact that I have a DVD player, Navigation system, 6-Disc etc. Lots of electronics and so many remote operated features. While I am not so concerned about the engine having problems in the first 7 years, I am not so sure about all the electronics. The $1000 might be worth it for 4 years, 39K if any one of these breaks in that period.

    In any case, it might make more sense to get this extended warranty at the end of the first 3 years.
  • dwynnedwynne Posts: 4,018
    If you paid $1000 to $1500 for the warranty, then you WOULD indeed be foolish since with discount dealers can sell them for so much less. I think even the most expense plan is under $1k for the longest term from a discount source.

    I think there is no sense discussing the pros and cons, since some folks will not be interested in purchasing a plan and others are. The roadside and rental car plus the warranty gives peace of mind - knowing you will have to pay out nothing for repairs. Some folks like that. Hondas are reliable, but every Honda dealership has a service department and I know they do more than just change oil. Car parts and service work are quite expensive, so it would not take but one or two claims to pay the cost of the warranty. And has been mentioned, when you sell your car you can market it with the extended warranty - which should make your car easier to sell and command a higher price. When Hondas cost no more than $15k then selling a used one with no warranty it was a pretty cheap car. A Pilot after 3 years will probably be worth close to $20k and a lot of folks will shy away from paying $20k for something with no warranty. If you don't sell until 42/42k then they can't buy a warranty for it from Honda. Have a 7yr/100k warranty on your Pilot and it would be much easier for folks to invest $20k in. Trade the car? Then get a refund for the un-used portion.

    This forum is for pricing and info, not really to try push the "warranties are stupid" point of view. To me, purchased at the right time for the right price - I think it might be worth the price. I can make sure that folks understand the terms of the warranty and that $1340 is a TERRIBLE price and then let them make up their own minds.

    Dennis
  • i just learned of this forum -... bought Pilot EXL yesterday and bought extended warranty for $1395 - 7/100K, $100 deductible ... did not feel right about it sales guy was very convincing.... i will call to cancel ...
  • dwynnedwynne Posts: 4,018
    Ouch! Yes, cancel and get a refund. If you decide later you want the warranty then purchase from a discount HondaCare dealer.

    Dennis
  • richardlrichardl Posts: 9
    The Honda markup on the extended warranty is 100%, so take the quoted price, cut it in half and add 10-20% for dealer profit, and then offer it to your salesman. Normally, I wouldn't be worried about an extended warranty on Hohda products because they are built to last; however, if you are getting one loaded with all the high tech options, it would be a good idea to get the extended warranted, discounted, of course. The Navigation alone could set you back the price of the warranty.
  • cccompsoncccompson Posts: 2,388
    Actually, the price for the in-dash part of the navigation system alone on an '05 Odyssey is, according to my salesman, $4800!
  • lexielexie Posts: 45
    Honda is not forcing anyone to buy the extended warranty. It is there if anyone chooses to buy it. No matter how reliability an automaker is known for, out of the millions of cars manufactured, there are lemons out there. With my previous GM car, it required over $4000 repairing the first tranny, $1200 on radiator crack leaking coolant contaminating 2nd tranny and $700 on another tranny related problem and all this happened before I got rid of it at 26K. The first repair happened within the 3 year warranty but the last two were not and I fought GM and still ended up paying over $1000 in repairs out of my own pockets so for $800, it is well worth it and it will give me a peace of mind for the next 7 years - that's priceless ;)
  • lexielexie Posts: 45
    I had the same experience with Burt Kuni Honda in Lone Tree, CO. They repeatedly told me that I could not buy another policy for the same car.. At the time of the purchase, I was told that I had to buy it if I wanted it because I could not buy it later. I asked how long I had to make up my mind if I decided to keep or cancel and she said why would you want to cancel. I told her I am put on the spot and you offer me no info other than the price. I would like to have sometime ot think it over.

    The policy said I have 60 days to cancel so I called to cancel. She said once you cancel, you can never buy it again for the same car. I called American Honda to confirm. AH was baffled that the dealership would tell me this. AH told me to have the dealership call them at the time I sign my cancellation contract. I called the dealership to set up an appointment and she told me she would fax me a form to fill and that I could either drop it by or mail it back along w/ the Honda Care back. She again told me that her assistant called AH and they told him that I could not buy another policy for the same car and if I thought I paid too much and want to cancel, there's nothing that she could stop me. :sick: I honestly do not trust the people that work here. Once I send the forms back, do I check with American Honda to make sure it has been cancelled?

    The service at this dealership stinks. The sales people I work at were terrible. Avoid it at all cost.... Try Fisher Honda in Boulder.
  • ronf1ronf1 Posts: 3
    I bought a new EXL and Honca Care Warranty on 4/30/05. Got very price on SUV ($28,947 before D&H and TTL)but got taken by warranty. Paid $1,300 for 6/75K warranty. Next day after I had a bad feeling about the high price I paid after learning how I can buy the same warranty for half the price via internet purchase. So I went back to dealer the next day to cancel the warranty and they told me a flat out lie. They said if I cancelled the warranty I could not purchase another Honda Care warranty for the same vehicle. So, since I wanted a Honda Care extended warranty I left and went home feeling taken.

    However, thanks to this site. I read how others were in my same position, with an over priced warranty they thought they were stuck with. So on 5/2 I called Honda Care and asked if I can cancel the warranty I paid too much for and purchase another Honda Care warranty. They told me this happens all the time and yes I can cancel and purchase another Honda Care warranty at a later date for the same vehicle.

    So on 5/2 I went to the dealer where I purchased the warranty and filled out the necessary form to cancel it. I will wait a few days and then call Honda Care to see if the cancellation went through. Once it's officially cancelled I will then shop the net to purchase another warranty. I will post update her after I purchase another warranty.........Power to the People!
  • dwynnedwynne Posts: 4,018
    Way to go folks!

    Too often we negotiate a good deal on the purchase, then lose some money back on the finance office :( They know you are spending big bucks on a new car, so offering the extended warranty seems like something you need to have and the price seems small in relation to the price of the car.

    With a GM protection plan the cheapest day to buy it is the same day as you buy the car (but it does not have to be from the same dealer), but with most of the others including Honda you can do it later. With a Honda it is up to 24 months or 24k before the price goes up.

    If you financed your car and the warranty, make sure you payment and loan payoff amount go down as they should once the policy is cancelled. Anytime the warranty is financed, the refund will go to the bank - so the loan amount will then be adjusted. If you paid cash or charged it, then the refund will come back to you.

    As you mentioned, just keep calling the HondaCare toll free number (posted in this forum) until they say the warranty cancellation was processed.

    Then you have until 24/24k to find the best price for the warranty, all know cheap places are also posted here - but it you come up with a better price be sure to post it.

    Dennis
  • aaronwiaaronwi Posts: 18
    Ok, here's one I need a little help on:

    I did all this research into Honda Extended Care Warranties and was set to purchase one. Our financial officer asked us a few questions and actually steered us in a different direction.

    Since our closest dealer is over an hour away, she suggested API coverage. I looked over the brochure and it appears to cover a little bit more than the Honda policy. Also, it looks like you can get your premium back if you don't use it by the end of the term. But the biggest kicker is that it doesn't have to be used at the Honda dealership! This alone could save us mucho deneri in travel costs and time.

    Anyway, has anyone had experience with this company?

    The 7/100/0 policy was 1254.00; a little higher than I can get the Honda policy for. Any thoughts on the price?

    Thanks.
  • lexielexie Posts: 45
    I thought I needed to go there to sign the papers but she said she'd faxa form for me to fill out. I got the Cancellation Request form. I was looking over the papers that I signed at the time of the purchase (Simple Interest Form - Consumer Credit Document) and the price of the warranty is listed on the receipt along with the price of the car, the fees and the EW price. Will they need to redo this form since I will no longer have the EW or the cancellation will offset it? I do not feel like dealing with them so I am sending it via certified mail. I told her I wanted the 7/100K and she quoted me $1145. This price is still high but not enough to make a hassle to cancel until I saw that my EW states 7/75K for $1145. Jay Honda has the same policy for $720! The $425 will almost pay for my plate! :mad:

    I am assuming the API Exended Warranty is a third party. It seems high and I personally would not buy a third party.
  • dwynnedwynne Posts: 4,018
    I would never go with anything other than a factory backed warranty. Just ask all those thousands of folks how bought "Warranty Gold" policies and were left with nothing when the company went out of business.

    You will also likely have trouble getting places to accept a 3rd party warranty coverage. They don't know if they will get their money back or not, so you will end up paying for the repairs then trying to get your money back from the warranty company. Besides, with the complex nature of modern cars the local repair shop is probably not equipped to deal with a lot of the problems you can have.

    If you check the prices at the online places posted here, you can get "real" HondaCare for less than this warrantee costs you.

    Dennis
  • bkcrna1bkcrna1 Posts: 6
    We just had a fantastic experience buying our '05 Honda Odyssey Touring w/RES & NAVI from Superior Honda in Omaha, Nebraska. We paid $500 over invoice and got this price before they even mentioned anything about a trade. One of the other dealers in town asked first thing about "our trade."

    My question now is this...we purchased the extended warranty which I now find out is from Fidelity Warranty Services, Inc (CAREFREE CAR PROTECTION). This warranty includes 5 yrs/75,000/$100 deductible (not as good as Honda Care as I now see) and oil changes/tire rotation (sounds like Honda Sentinel) for a grand total of $2000. The original price as $2500 but I just couldn't see paying that. Now I'm kicking myself for paying what we did. Looks like I paid $1432 for the warranty and $568.00 for oil changes and tire rotation.

    I can cancel the contract by taking it back to the dealer and I'm seriously considering it. One thing mentioned here concerns me....does the Honda Care use "new" parts to fix problems? Seems that I read something here about them using refurbished parts, etc.

    Anyone have thoughts....???

    Thanks in advance
  • dulnevdulnev Posts: 652
    You were taken to a tune of $1,500-2,000. Given that HondaCare policy with zero deductible is about $800, the cost of this policy shouldn't be more than $500 + whatever the oil changes might cost (I wouldn't pay more than $200). Cancel the policy (if you still can) and buy HondaCare.

    Don't worry about the issue of new parts vs. refurbished. It's a non-issue.
  • dwynnedwynne Posts: 4,018
    I agree, get out of this warranty ASAP. Hopefully there is window to cancel for a full refund and you are still in it. Too many of these plans have gone out of business for me to want to risk a penny on anything other than factory backed. Plus, the price is just insane compared to the HondaCare discount price.

    Dennis
  • bkcrna1bkcrna1 Posts: 6
    Those of you with a Honda Care Contract....are "oil changes" included in the "basic" 7/100/$0 deductible warranty? I'm reading information at the collegehilshonda.com website that is a little confusing.

    Thanks in advance!
  • kyfdxkyfdx Posts: 28,621
    Hondacare has two different products..

    One is a warranty... and the other is a maintenance program.. Both are called "Hondacare".

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • dwynnedwynne Posts: 4,018
    No, not in the basic HondaCare. They have the "Sentinel Expanded services" that it appears you can add on to HondaCare warranty (for more money, of course).

    http://www.collegehillshonda.com/hondacare/contract_coverage.htm

    and see secion II - coverage.

    Dennis
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