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Honda Extended Warranties Pricing and Info

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Comments

  • mitzijmitzij Posts: 612
    California MBI is a type of service contract, not a brand or company name. I found 2 companies selling MBI (didn't have to look too far). Both show the same exclusion list, but the one where I could read the whole contract has further exclusions in the fine print-very sneaky. And there is a $$ limit on the claims. They will only pay out as much as you pay them.
    As for the exclusion list, I went through it and the exclusion list posted a few posts back for the HondaCare. HondaCare lists more components, but the MBI contract lists groups of items. For example:

    HondaCare: exhaust system, head pipes, tailpipes, catalytic converters, mufflers, hangers.

    MBI: exhaust and emissions systems

    Both are exempting the same parts, HondaCare just lists individuals.

    I did find the MBI covers the fuel system and pilot bearings/bushings, when HondaCare does not.
    The MBI does not cover shock absorbers, GPS/phone/entertainment systems, when HondaCare does cover those items.

    I would still go with HondaCare (if I really thought my new Honda was going to croak often).
    One company I found is backed by Interstate National Dealer Services. I thought they did the bankruptcy thing a couple of years ago?
  • dwynnedwynne Posts: 4,018
    .... Especially when it comes from a company that you don't REALLY know its reputation... Do you?

    I agree.

    A lot of folks used to say good things about "Warranty Gold" - up until they went out of business taking everyone's money with them.

    Either get the Honda backed plan or just take your chances that the car never breaks. Buying a warranty from someone else is to me a HIGHER risk than doing nothing at all.

    Dennis
  • Thanks to this forum, I learned so much information. We closed on our car deal last night. When it came time to discuss extended warranties, I shared all of my quotes, including the Bernardi one for $951: 7/120/0 on '06 Accord V6. The finance person was caught way off guard!!! He got up, left his office, came back, studied his binder, and then said that he would match that. He tried to lure us into financing everything (no down payment) at 4.99% (over 30K). We said no thanks. We got 5.24% thru State Farm, put cash down, and paid for the warranty. So keep up the good work!!
  • mdogramdogra Posts: 16
    Thanks Dennis. I talked to the dealer yesterday and asked if he can work out something for me out of the price quoted since I showed interest. He said he can knock off $100 at most. I stopped by to take a copy of the sample contract. It seems like the format is the old $0 down warranty paperwork. Coverage and exclusions are as others on this board have discussed before. The sample is for HC from American Honda Finance Corp.
    The dealer is pretty big and sells loads of vehicles so I do think he knows what he is doing. I'm gonna give it a try after reading trough and go ahead with the deal. If American Honda rejects the application then I do not have anything to loose ;)
  • dwynnedwynne Posts: 4,018
    Glad we could help save you money - sound like you went in prepared with the HC quotes and your own financing. You probably had the invoice prices and any dealer promo amounts with you as well.

    To borrow the trade-mark of my friends at LeaseCompare - "Saving Money Feels Good" :)

    Dennis
  • sky23213sky23213 Posts: 296
    Also got EW from Bernardy - 956.00 for 7/120K on a '05 CRV SE (we have long commutes). If nothing else, it's worth for the peace of mind. The booklet took about a month to arrive - probably the guys were swamped by all the business thanks to the forums :P . And I carefully read the exclusion before buying. The interesting thing is that if you turn on page 2 of the VSC Contract, under A. PARTS it says "... examples of systems covered ....FUEL SYSTEM...". Go in the exclusions and fuel system is there too :confuse:
    What do you guys think? Not that the fuel system, especially on a Honda, will fail soon (never heard of such a thing).
  • kanukanu Posts: 19
    Hi,

    I'm thinking about purchasing EW from Honda care. I'm qualified for new plan which qouted me for $975 for 8y/120k/0deduct. I plan to keep my 2005 Accord 4cyc for at least 10 years. Many people in the board mentioned that purchasing warrenty is to waste money due to the Honda's reliability.

    So, I'm trying to justify the value of EW by listing components that have high chance to disfunctioning by 120k and costs of fixing them. But I'm not a car expert. The only thing I can think of is alternator (about $300 fixing). Anything else please ($700 left to be justified).

    Thank you,
  • mamamia2mamamia2 ChicagoPosts: 701
    If you plan to keep the car for so long, BUY THE EW. And buy it with $0 deductible.

    Just few months ago my dealer wanted me to replace the ABS Module in my good old '95 Accord, for $1,500 (I declined, to find out later it's leaking very slowly, and I could simply top it up every now and then).

    I have a 3 month old '05 Accord, and I am going to invest the money and buy the EW soon.

    Like any insurance, you NEVER know if you will ever need it. But for less than $1,000, covering all the major components in your car, for the next 8 years (ok, 5 years beyond your original warranty) ----- I think it's worth it.

    Yes, your peace of mind is worth too.
  • dwynnedwynne Posts: 4,018
    The A/C compressor is $1,200-1,500 or more to fix. A guy I know has a just out of warranty (42k miles?) Accord and his just failed. Ask him and his wife if $700-1000 for a $0 deductible HC warranty would have been worth it - I think I know the answer.

    The odds are (really) that it will never save you money. Think about it, if it saved 51% of the folks who purchased it money they HC would LOSE money over all and would raise prices. So the ODDS say you should be able to get through the policy term and not spend as much as the policy costs you.

    Of course, if you DO have one of the minority of cars that costs more than the plan to repair knowing a lot of other folks had no troubles does not help YOU out - does it ? :D

    I have it on my Hondas just for peace of mind - also I can (and have) gotten a pro-rated refund when I sold or traded a car. And it makes a nice sales tool - down the road you decide to get something else you can market your used Honda with the balance of the HC warranty. That should help you recover a good part of your investment.

    Dennis
  • davantdavant Posts: 294
    The only time I would suggest NOT getting and EW is if you plan on trading or selling prior to OEM expiration. I realize Hondacare adds things like rental car and trip planning from day 1 but these alone aren't worth a grand. With the complexity of this vehicle and the relatively low cost of this coverage, it will certainly pay you back, especially in the last 3 years of so. Honda quality or not, things break, and what you consider minor could very easily exceed what the plan costs in just one or two repairs.

    Even though I'm in FL where EW prices are fixed and registered with the insurance commissioner and I have a 7/100/0 HC EW plan already, it's interesting to see who's buying what where as haggling from the bleachers is better than not at all.

    Cheers!
  • sr45sr45 Posts: 144
    First time I ever purchased a extended warranty for $659.00 on my new 06 EX Nav Civic Coupe, but piece of mind came into play this time around in wanting to keep the car for about 5 years plus instead of the normal 2 to 3 three turn around. Sure hope it won't have to be used or if it does, that it will cover the part that breaks ;)
  • ezshift5ezshift5 West coastPosts: 855
    ....my thoughts, almost exactly 45 (great caliber, incidentally)...............

    ..I'm fixing to pony up $555 to H/A World for a 5Y/80k.......

    ...the least I could do for the well-engineered coupe that just turned in fantastic fuel efficiency during a recent run to Luke AFB and back.........

    Great car!!

    ..best, ez.........
  • sr45sr45 Posts: 144
    I would really like to know from anyone, if they had to use the Honda Extended Warranty, and did they have any difficulty ?

    Anyone ?i>
  • bob45bob45 Posts: 8
    I was told to buy the extended warranty for a 2006 ODY I must buy it from a Florida dealer since I live in Florida. Does anyone know if this is correct ?
    If this is correct anyone know where in Florida to get the best price ? It all sounds fishy to me.

    Thank for any input
    Bob
  • bob45bob45 Posts: 8
    I did a search and found that we in Florida are only allowed to buy EW from Florida dealers. WHAT A SCAM I wonder how much insurance lobby money & free trips that cost. :mad:
  • ezshift5ezshift5 West coastPosts: 855
    ...didn't realize y'all are in FL....

    ...that would most likely translate into somewhat more than the $555 I'm about to spring for a 5Y/80k HC EW.........(Accord EX 6-speed coupe......)

    ...all of us have dumbass laws on the books; at least you don't have the CARB (no new diesel VW's, etc), Good luck - and if you're agreeable:

    Consider letting us know the effect (in $$$) of your bureaucratic mandate preventing EW purchase from Bernardi, College Hills, Jay, or HondaAcura World...........:surprise:

    best, ez
  • davantdavant Posts: 294
    Florida is bound by laws governing EW's as insurance under the purview of the insurance commissioner. If you search back in this forum it may not be a dumb idea, especially if you are an uninformed consumer. All it effectively does is level the playing field keeping Floridians from getting a good deal like elsewhere, or ripped off by gougers. I could have saved several hundred bucks had I been able to buy a Hondacare EW from the original dealer in GA but since I too live in FL, I'm a victim also. I like the concept of the state looking out for me but don't like the fact that it costs more to do so. The state doesn't get any extra incentive to regulate this industry so I don't understand the bitterness toward government in this case as at least they're trying to help. Every FL buyer will pay the same for identical warranties, how bad is that?
  • ezshift5ezshift5 West coastPosts: 855
    ...correct me if I'm wrong, but would it be a fair statement that FL residency has cost you several hundred dollars and provided the opportunity to label yourself "victim?"

    ..perhaps if you've the opportunity to see the type of folk - 'up close and personal' - that legislate this sort of junk..........we've much the same in California (in spades)!

    Perhaps we can agree to disagree, No offense to y'all personally.

    ..and you did buy a Honda. I'm still knocked out by my coupe. What an engineering marvel. I'd rather talk about fuel efficiency any day.

    best, ez
  • davantdavant Posts: 294
    I agree to disagree without being disagreeable. Edmunds isn't the appropriate political platform to poke government in the eye but keep in mind not everyone I voted for got elected. FL residency doesn't cost me any personal income tax so I guess I can make this sacrifice without moving elsewhere. You stay there, I'll stay here and we'll both enjoy these great vehicles and our statehood, GBA.

    - Cheers
  • Has anyone ever heard of a Wrap Warranty? I purchased a 2004 Accord over the weekend which has the CPO 7/100/0 warranty. The dealer offerd a Wrap warranty which covers everything that the original 3/36 warranty covered such as A/C compressor, alternator, etc. up to the 7/100. They want $1000 for the coverage.

    I would appreciate any thoughts on this coverage and please let me know if you have a better price.

    Thanks in advance.
  • dwynnedwynne Posts: 4,018
    Doesn't the CPO warranty cover the parts you listed? I think the CPO adds 1 more year of full coverage to the 3/36k and then has a powertrain to 7/100k. SO what you would be buying is a HondaCare to cover the non-powertrain past 4/48k.

    You can get a HondaCare warranty to do this, but you might want to call a some of the discount HC dealers to ask them - I THINK they have a lower-cost HC plan for CPO cards since so much of the coverage is duplicated. $1000 sounds like way to much money for this extra coverage.

    Dennis
  • dchodcho Posts: 5
    Just bought a 2005 Honda EX V6. I was considering an extended warranty, HC vs Warranty Direct. Does anyone have any advice on either warranty or whether I should even consider getting an extended warranty? I plan on keeping my car for at least 7-8 years. Any advice would be greatly appreciated.
  • mamamia2mamamia2 ChicagoPosts: 701
    If you read the messages posted on this board in the past month alone, you'll get a pretty good idea.
  • How will anyone know what the actual miles are on a car when a warranty is purchased online? Couldn't someone with a 2005 Accord say they have less then the 6K to qualify for the new car Hondacare Warranty? This could save you hundreds of dollars.
  • thekingtheking Posts: 107
    I have heard that they want a clear shot of your dashboard showing a clear picture of total odometer.mileage and a VIN # which will show the make and year of vehicle and a scan of your registration showing you as owner. You cannot fool these people;they know all the tricks :shades:
  • I just purchased my warranty online. All I gave them was my VIN # and mileage - I could have been lying about the mileage. But my car is only a couple of months old, and I'm sure they can check that themselves. So the odds that I'd have over 6000 miles AND that it would make any difference are slim.
  • Honda is pricing themselves out of the market on extended warranties for used Accords. I have a quote for only $521 on a 7yr. Or 80K new Accord warranty. However, I own a car with 6600 miles on it that is 10 months old. The quote on it is $936 for a 7yr. Or 84K warranty from time of purchase. Both of them are for a $100 deductible. Does anyone have information on how long you have to purchase the used car warranty? I am going to wait sometime to get one now or just manage without one since they are making cars better now. We managed without extended warranties on four prior new vehicles. Two were Toyotas, one Nissan and another Accord.
  • dwynnedwynne Posts: 4,018
    They USED to not charge any extra until your Honda was more than 24 months old or 24k miles, then they charged $60 more. If you went past 36/36k then it was $160 and once you hit 42/42k then you could not longer buy a HC plan. You had the choice of $0 or $50 deductible.

    Under the NEW scheme the cut off is 6,000 miles to get a $0 plan and the Honda must be a model year 2004 or newer. This gets you the best price and the ability to buy a $0 deductible plan.

    Past 6,000 miles or older than a 2004 you have to get the $100 plan.

    I would not tell anyone to lie, but if I were you I think I would buy the $0 plan buy saying your car has "6,000 miles" on it. I purchased plans for two Hondas this year and no one asked me for the mileage - nor did they in the past. Check back several messages and I posted links to all the discount online HC dealers I know of. Get quotes from them all and go with the best one - and just tell them you are under 6k on your new Honda.

    Dennis
  • dwynnedwynne Posts: 4,018
    If you get the $0 deductible plan, it goes into effect on the DAY YOU PURCHASED THE HONDA - no matter when you actually paid for the plan.

    If you get the $100 deductible plan, it goes into effect on the day you purchased the plan.

    What difference does this make? While you do save money with the "new Honda" type of warranty plan, the amount of your REFUND should you cancel the plan for any reason (car stolen, totalled, or traded) will be less, percentage-wise. I am betting the pro-rate refund would use the date you cancel and the date you first purchased the car to determine the amount you are due back. Under the old plan and I assume under the $100 current plan, they would use the cancel date and the PLAN purchase date to determine the refund.

    It is not a HUGE deal, and for sure the $0 plan is better if you can get it - but you need to be aware of this subtle difference in the way the two plans work.

    Dennis
  • Thank You Dennis. This gives me something to think about. I will need to do something soon before the 7500K service is due or wait. Also, I am thinking that if warranty sales are slow things might look more attarctive on the used warranty?
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