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Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
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The clutch developed a very loud squeak (1 1/2 yrs), Honda told me that, while it was under warranty, it would not be worth the cost to them to replace the squeaking part (they did, eventually).
They damaged the part (name?) that connects to the spark plugs, a mechanical friend told me they (H's repair)had pushed it back and forth while removing it from the plug, stretching it out so it wouldn't stay on the plug. It would fall off while I was driving and I'd have a tremendous loss of power. My Honda repair people told me, "It's an older car, it's typical for it to lose power" (6 at the time, problem developed immediately after tune up). They replaced it after a lot of argument and at my service six months later charge me for the part saying it was "usual wear"
Having a warranty is one thing, having it be worth anything is something else.
I had really planned to not buy Honda again but the rats have two cars I really like...darn. Get the white sage out....
The dealer showed me the invoice price ( $1149), which I hope is true.
How the selling warranty will work for dealers?. Can they make any other profit ( kick back from honda), apart from the above margin from the invoice prices?.
The reason, I am asking was, when I showed him the online price quote, he took a look at it and with in few minutes he was ready to match the price. I was surprised, because in
his original price sheet, D80 was quoted as $2800.
He owns 5 stores on the Columbus area ...
Terry.
If you want another source to compare to Bernardi, try www.hondacuraworld.com Their quote was 975.00 plus 3.95 handling charge per order. I guess I could have saved 5 more cents if I had gone with them instead of Bernardi!!Good luck!
For an Odyssey with up to 6,000 miles on the odometer:
8yr/120k/0 : $1,330
8yr/120k/100: $1,230
So, you pay 100 extra for the zero deductible, but then don't have to pay the deductible if you have a claim... it's break even with one claim, and you come out "ahead" on the zero deductible with more than one claim... hope this helps !
Of the people here who have purchased EW's...
How do you justify spending $1000 - $1400 on such a warranty? The chances of having even a single EW claim is small. And you will almost certainly not have enough EW claims to cover what you original paid for the warranty.
Instead of spending $1200 on an Extended Warranty, why not save that money? If you invest $1200 at 5% interest (easily done with CDs) for 6 years, you would have $1,619!!!
The purchase of an EW makes sense only if you plan to submit $1600 worth of claims during the EW period. If you surveyed Honda owners, I bet VERY FEW have come close to spending that much $$. Even if you had to spend $1000 out-of-pocket during this time, you would still be ahead by $500!!!
There is much skepticism and ridicule regarding added dealer packages: protection packages, pin striping, scotchguard, rustproofing, ect.
Most people view these "features" as useless/worthless items that are pure dealer profit. Why is there not equal skepticism over Extended Warranties???
If people spent the time to review the numbers, you would see that, with few exceptions, EW's are a rip-off! Save the money and take a nice vacation instead!
At that price - no, but under 1K think of it as insurance. As you say, chances something will go wrong on a Honda are pretty small, but they exist. That's why I look at it more like insurance, and a form of budgeting to some extent, rather than anything else. Buying a Service Contract with the expectation to come ahead is like going to a casino expecting to win.
Wrong...the same analogy can NOT be used for home/auto insurance.
- Auto insurance is required by LAW, it is not optional.
- Home insurance is required if you carry a mortgage on your house, which most people do, so it is also not optional.
Secondly, the loss of a house will cost you $100K's, and injury/liability from auto could cost you the same. As I mentioned earlier, you'll be lucky to save a few hundred dollars with an EW.
I agree with your analogy, so why waste money on a Service Contract?
You say it is a form of insurance, but unlike home/auto insurance, it isn't required and does not have the potential to save you hundreds of thousands of dollars. The most you could EVER hope to recoup from an EW is, what, $1000-$2000?
When car buying, most people would balk at a $1000 "documentation fee" or $1200 dealer pinstriping. But they don't mind spending $1000 on an EW, even though an EW doesn't have much more real value than that stuff. And EW is pure dealer/manufacturer profit!!
I think it boils down to two things
1) People are nieve/uneducated about EW and it's potential savings in car repair.
2) People are so horrible at saving/budgeting, they're afraid they can't come up with a miniscule $500 for future car repairs, so they spend 2-3 times that upfront for an EW.
The most you could EVER hope to recoup from an EW is, what, $1000-$2000?
As mentioned before - according to me, hoping to recoup any of it is not the way you should look at it. You have a point that many people buy it under dealer pressure without considering all the particulars for their personal situation and get ripped off to the tune 1500-2000.00
For me 965.00 for 6/120K/0 was bearable and has a certain value; to you might be worthless - as I said everyone might see different value in different things (Beauty is in the eye of the beholder :shades: ). And no, a $700-800 repair would not break me, might leave a bad taste in my mouth for sure.
Anyway, I wouldn't judge anyone for making a certain choice.
You're right, I shouldn't be judgmental about people making certain choices...different strokes for different folks.
Although I believe many people don't think through the EW purchase thoroughly enough. If one forgoes the EW, $1600 (after interest accumulates) will pay for a LOT of repairs.
In all likelihood, you will not spend anywhere near that, so why not keep the hard-earned money yourself instead of making the dealer richer!
It is a gamble to not warranty, but a gamble with a lot on the Honda owners side. If I had the money to spend I might have, but my older car never had a major problem until it was well past the warranty...and, when it had a minor one we fought over whether they should fix it (Harbor City Honda claimed it was not worth it (to them) to repair a chirping cluth, they are no longer in busines I think...).
Remember HC EW includes Roadside Asst.
Option #1:
Join AAA for 8 years @ $59/year
Total $472
Pay for my own repairs for 8 years
Total $???
Option #2
Buy Hondacare 8/100 $0 ded for $955
And not have to worry about anything for 8 full years so long as I save my maintenance recpts.
955 - 472(AAA for 8 years) =
Only $483 for 8 years of worry free driving
Thats the best $483 I'll ever spend.
When you look at it that way there is no reason not to get the EW.
That would then be the easiest $500.-- I ever made... :-)
You are overly pessimistic...
Whenever I claw myself behind the wheel of a Honda a sense of security and eternal serenity overcomes me... :-)
If you want to get some action going and get your money's worth from an EW, you might want to buy from Ford, Yugo, or Chevy... :sick:
When comparing Bernardi vs HondaAcuraWorld, Bernadi's quote was about $50 less for my car. I'm going to go ahead with Bernardi.
Does anyone have experience cancelling a EW warranty??? When I bought the car about 3 weeks ago, I bought a non-HondaCare warranty w/ $100ded at the dealer that costs more than the HondaCare $0 deductible warranty!
You're the type of people that every salesperson & dealer loves to see walk through their door. Your reasoning and logic are fatally flawed.
- You proposed either buying AAA or a HondaCare warranty. How about buying NEITHER and saving your money?
Very rarely, if ever, will you become stranded in a Honda and need Roadside assistance? But let's say it happens once during your EW period. Why not just pay $100 for a tow truck yourself and save $900 (plus interest) the warranty would cost?
- You state "Only $483 for 8 years of worry free driving" with an EW. You should feel just as "worry free" by putting the $965 in the bank (earning 5% interest) and paying for any repairs yourself IF they were ever needed!
I'd gladly take your $500 to make you feel better. Personally, I feel better knowing I didn't waste $1000.
When you go to a store and purchase a TV/microwave/refrigerator/ect, do you always take the salespersons suggestion and buy the EW?
Buy from Bernardi as they are tops.
My Honda Care is $0 deductible for 6 years or 120,000 miles for $1,010. This is for a 2006 Odyssey.
I only found this out when they said it would be $1 more a month and I asked 'why?'.
Now...I kept asking questions and found out that I could opt out of this 7 yr coverage and save $8.06/month. That's $1043 over 7 years. They will send the details to me in the mail but I was wondering if any of you had heard of this which is essentially an alternative to an extended warranty? I'll put probably 175k on my car in 7 years (and probably keep it that long - kept the 2000 for 6 yrs) so I'm wondering if I should perhaps keep this coverage? Any thoughts?
1) How $1/mo becomes $8/mo. would bother me to start..
2) $250 deductible... this relegates it to "catastrophic" insurance... You've really got to have something seriously go wrong to collect, and then you still have to pay the first $250.
3) New Hondas already have 60K powertrain coverage, so no coverage needed for that period..
The only thing in your favor, is that you put on a lot of miles...
The advantage of the HondaCare plan, (which they point out in their own sales materials), is Honda has a vested interest in keeping the customer happy with their car.. Somehow, I doubt Geico will have the same level of interest.. They aren't famous for their claims experience.. just their low prices...
Just my $0.02..
kyfdx
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1) How $1/mo becomes $8/mo. would bother me to start..
** that bothers me too but I think in reality I was just paying too much for my full coverage before hand and didn’t even know it! I’m probably still paying too much if I take the lower ‘non-warranty’ route and save $8/mo. I heard recently that if you threaten to go elsewhere they will automatically lower your rate.
2) $250 deductible... this relegates it to "catastrophic" insurance... You've really got to have something seriously go wrong to collect, and then you still have to pay the first $250.
*** “relegates it to ‘catastrophic’ insurance” On that I will have to disagree with you. This is the first year of the new model...who knows what might go wrong! I had a catalytic converter go bad in my last one after 5 yrs. Honda charges over $1,000 just to fix that and then you have to see if the engine is misfiring or something to cause that actually caused it go go bad--another who knows how much more $$ on top of that. Giving Midas $300 to put in a third party CAT won't do that. Anyway, $250 isn’t a whole heck of a lot when it comes to auto repair these days, is it I imagine it will be even less so in the outlying years and that CAT might cost $1500 by then.
3) New Hondas already have 60K powertrain coverage, so no coverage needed for that period..
The only thing in your favor, is that you put on a lot of miles...
***60 works out to 8.58K over 7 yrs. I put up 22.5k/yr on my last Civic. I doubt if anyone averages 8.58/yr.
Thanks for the input, I'm still undecided though. I'll see what GEICO sends me in the mail before I decide to go to the lower coverage.
Taky
The plan is the 8yr/120K/$0 Deductible. Paid $980 and used the 12 month 0% interest plan. I called them to ask a few questions before buying and they were very helpful and answered my questions. Also if bought in may they give you $25 credit toward buying honda accessories on their online store. I checked out several other online places including Bernardi (they charge $1 less) but I didn't see the 12 month payment plan. So far very satisfied.
Scott
Please no comments about this being a waste of money, I have some experience with high and unexpected car bills after the power train warranty runs out and really like the comfort of an eight year B to B.
When I got home I got out a calculator to figure out what my payment would have been if I didn't get the warranty and to my surprise I came up with $354, even though the finance guy told me $363. Has anyone ever run into this problem before and is there anything I can do about it. I feel deceived and tricked into getting the warranty with his fake payment. I have no written proof that this is what he told me. Someone Please Help!
But in most cases once you sign the papers it is a done deal.
Those finance guys can be sneaky.
Always beware.
Their price was only $1 more than Bernardi but
1. You get a $25 Gift Certificate for Parts/Accessories
and
2. You can do everything online and won't have to Fax or mail anything
It is defin. the way to go and the best value out there.
www.myhondawarranty.com you can do it all online.
The prices I've seen online are much lower than what I've been able to get from dealers in FL such that a $300 flight and another $300 in gas and 1500 miles would possibly still be cheaper then otherwise. Not to mention I could probably work out some other options like visiting family and making it into a vacation at the same time to offset that cost.
My only concern is that I'd get the warranty voided when I go back to FL and try and use it, so, anyone know how it works?
Perhaps register the car in a relatives name who lives out of state (mom, dad, sister) etc.
Thats the only thing I can think of.
Of course you would have to go visit them every time the Van was due for inspection.....