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Advice on Pilot Comprehensive Car Care

buck0086buck0086 Posts: 52
edited March 2016 in Honda
I'm considering purchasing a new 2016 Pilot Elite model and the sales person is pushing the lifetime comprehensive coverage which costs $2500. In the past, I've never purchased the coverage. It's been 5 years since I've purchased a vehicle and I could use some guidance on this. Could I please get some direction? Feel free to respond with thoughts and/or direct me to other forums with the information. Thanks.

Comments

  • steverstever Posts: 52,462
    edited March 2016
    That's a big hunk of change. What kind of coverage is this - extended warranty or maintenance/oil changes?

    Your new Pilot is under warranty - at the very least I'd wait until the basic warranty nears expiration and then think about how it has held up, how many more years you intend to keep it, etc.

    These kinds of extras are big profit centers for the dealers and the typical markup is 100%. If you do decide you want an extended warranty at some point, shop around. You may find it online a lot cheaper.

    I wouldn't buy anything but a Honda backed product.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    By all means shop around and also read the policy or contract top to bottom---especially, if it's an extended warranty, the paragraph starting with "exclusions"---that's where the bear traps are.
  • texasestexases Posts: 8,809
    Put that $2500 in a bank account, use it for maintenance/repair, I bet most of it will be there when you sell.
  • buck0086buck0086 Posts: 52
    Thanks for the info. It is not maintenance, just repairs. We went over exclusions.Shocks were one thing excluded. For the most part, it's pretty good for coverage, but I agree that it makes sense to at least wait until the warranty is up. That's where I stand, but my wife says that the salesperson's line about how we are considering a car with lots of bells and whistles has more stuff to break. In addition, that stuff can be very costly. I think it's a good sales ploy.
  • texasestexases Posts: 8,809
    You're right, they'll say anything to convince you, even though you're buying one of the most reliable brands made. 50% profit is typical on those policies.
  • thecardoc3thecardoc3 Posts: 4,992
    Buy a CD with the money ad let it grow interest. If something on the car breaks after the warranty is up, cash in your CD and you can use that money to fix it. If nothing breaks, then do what-ever you want to with your money.

    If they are so sure the car that they want to sell you is going to have a problem, why should you buy that car from them?
  • buck0086buck0086 Posts: 52
    Thanks for all the help. We are going to skip it and put the money in the bank. I really appreciate it!
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