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Comments
Dennis
Technically I still paid the full amount for the contract, that is what the numbers say on the invoice. They "bought down the cost" by getting the bank to lower my interest rate and they justify this by saying that I'm now paying a lower rate on the car as well.
I certainly smell something fishy there and feel like I've been fooled, which is a bad feeling, but at this point don't know what to do about it. Thinking about it makes my head hurt. :sick:
As I said in my origianl post I hope that I never have to use it, but if I do hopfully it will be worth it.
Thank you for your reply.
In any case, thank you for the contract info. It is helpful. Also, knowing that others find having the warranty a good thing makes me feel better about having it.
If anyone does this, they need to make sure that they buy in their own name and not the other person's name. HC is on the car by VIN and the purchaser's name. For example, if "John Smith" purchased HC for an Accord and traded the car in later and forgot to get his pro-rated refund it would do no good to any later owners. If they got "John Smith" to transfer the HC to them ($50) fee then it would be good, but otherwise if you show up and a dealership and try to make a claim they will deny it since you are not covered on that car - only "John Smith" is - until you buy HC in your name for that VIN.
Someone at HC told me once that it is not unusual to see several HC plans on a single VIN - where the car has changed hands and the HC purchasers forgot to cash it out.
Dennis
Of course, if someone I was buying from told me I was an idiot I would just tell them "buh-bye" and leave. There are way too many dealers and cars to choose from when buying a Honda to put up with any stuff from one of them.
Dennis
Your insights appreciated.
See the top of page two of this sample contract. It specifically mentions DVD systems.
http://www.myhondawarranty.com/hondaSampleContract.pdf
Dennis
I haven't seen anyone post having that problem in any of the forums.
I'm sure there are some in 10s or 100s of thousands of Accords with Navi that have been sold since 2002, but it seems like it's next to zero.
The HC is for peace of mind, sure the odds are really small you will need it at all if you buy a Honda (that is why you buy a Honda, right?) but if you are one of the unlucky ones the cost of repairs will sail right past the cost of the HC plan. I know a guy who had the AC compressor go out on his Accord just outside the 36/36k base warranty. This cost for repair far exceeded what the cost would have been for a HC plan that would have replaced it for free.
The odds are in favor of Honda. They know how much this stuff breaks and how much it costs them to repair it so they set the price to make money. If a 120k $0 deductible HC plan costs $900 to buy you can bet the the average repair cost for that Honda for that term will be less than $900. It is like buying a lotto ticket, the odds are not great but if you get "lucky" then it is worth the money spent.
The key is to buy it at a discount price and cash it out should you trade the car before it is done. At least then you minimize the cost. Or just decide not to buy at all.
Dennis
So now, their $2000 nav system is up to $2900 (assuming they got a good deal on the warranty) because they felt compelled to buy the warranty to protect it when they wouldn't have got the Hondacare otherwise.
Typically, electronic things like that fail pretty quickly if they are going to fail. How many people have TV sets and stereos that fail at around 4 to 6 years old?
The DVD drive is the most likely thing to fail over time, but a DVD drive isn't that expensive.
Not only did i get a great price on the warranty they also gave me a guaranteed price refund if i dont use the warranty.
Not only did i get a great price on the warranty they also gave me a guaranteed price refund if i dont use the warranty
This has been discussed here several times in the past and I would argue that you did not get a "great price".
When I checked they get $1015 for the I4 Accord 8yr/120k $0 deductible PLUS a $195 "fee" if you want your money back for a total of $1,210. If you buy from Saccucci or Bernardi you get the same plan for $940 or $270 less.
Now you don't get your money back buying from them, but you do save $270 right now. If you do not keep your car until the HC plan expires AND you use any benefit (roadside assist, rental car, or repair) then you get nothing back.
The odds go up that most folks will sell or trade, wreck, or have their car stolen before the HC expires - or even need to use it.
It also looks like they keep the $195 "administrative fee" and only refund the $1,015 for the HC.
To me, not a good deal. Paying $270 too much for a warranty then you can't use it.
Dennis
2007 Element EX: Last month, I bought one for $19,500 + tax + doc fee.
2008 Toyota Camry LE: Closed a deal today. $21, 200 + doc fee + tax. ( moochacha, "Toyota Camry Prices Paid and Buying Experience" #5822, 13 Oct 2007 9:20 pm )
Did you buy the extended warranty? How much did you pay for that? Did you also get the extended warranty for the Camry you just bought? People may be interested in how Honda and Toyota extended warranties compare in price and coverage.
tidester, host
SUVs and Smart Shopper
When you do a deal like this, they know that their ext. warranty will not be as cheap as what you can get elsewhere...
Oh, I see. Well, in that case you probably wanted to post your message in Honda Element Prices Paid and Buying Experience since the topic here is Honda Extended Warranties.
tidester, host
SUVs and Smart Shopper
TIA,
Andy
60 months.. From first registration/sale..
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But at Curry Honda, its says:
Note: Coverage for a new plan begins when the vehicle is originally put into
service and at zero miles. Coverage for a pre-owned plan begins on the service contract purchase date and at the mileage on the odometer on that date.
Is that a mistake? Or is this coverage not quite the same thing as a Honda Extended Warranty?
Is there any other place that I can get it lower ?
Thanks.
There are three scenarios in getting a HondaCare extended warranty..
1) Buying it on your brand-new car
2) Buying it on your car (purchased new), but months after the sale
3) Buying a used car, then purchasing an extended warranty.
In scenarios 1) and 2), it is just as we stated above.
However, I don't have any experience with buying the warranty on a car by it's 2nd owner. I suppose it is possible that the warranty could be different.
That brochure from Curry is the standard HondaCare brochure, so there may be some basis for that. You can be sure that a warranty like that would be much more expensive, to reflect the increased coverage.
Clear as mud?
kyfdx
visiting host
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So I understand where we are at this point, it isn't clear whether the extended care warranty goes until the odometer reaches 84k or whether it goes for (84k + whatever was on the odometer) when the warranty was purchased?
kyfdx, what is it about the Curry brochure that would make it pricier than other extended care warranties?
I was just remarking that a warranty that starts today, and lasts for 84 more months... is going to be more expensive than a warranty that runs out 84 months from the when the car was new.
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vabookworm and kyfdx are both posting completely incorrect information regarding this.
What is posted on the curry web-site is correct. The subject is also addressed on Saccucci Honda's extended warranty web-site in their FAQ's
at:
https://www.myhondawarranty.com/faq.php
When does coverage for service contracts begin?
Coverage for a new auto begins when the vehicle is originally put into service and at zero miles. Coverage for a pre-owned plan(over 6,000 miles) begins on the service contract purchase date, and at the mileage on the odometer on that date.
So yes, you get a full $84,000 miles from the mileage on your purchase date. As a host, of this forum, I would expect kyfdx to state only what he has direct knowledge of and not mislead people trying to get information.
Furthermore in his last post, kyfdx mentioned an 84 month used warranty. Honda doesn't even offer that as an option. The maximum time frame on used vehicles is an additional 72 months and an additional 84K miles.
Honda care used warranties can be purchased anytime before the 3 year 36K warranty has expired.
See the Saccucci Honda web-site for these options.
You should get a quote from Saccucci Honda on your warranty. Generally, they give a lower price that Currry.
Good luck!
Thanks to all for the time and help.
Andy
You're welcome. You may even consider that holding off on buying the warranty since it starts when you buy it. You'll have up until the 3 year 36K expires. You'll need to know the date the vehicle was originally put into service to know when the 3 years are up. Any Honda dealer should be able to tell you that by looking at the VIN number.
They will charge you more for the warranty however, the closer you buy it to the expiration date of the factory warranty.
You can go to that web-site I posted yesterday, myhondawarranty.com and run some different scenarios what would be the price if you bought it at 25,000 or 30,000 or 35,000 for example. Then based on the price differences you can make a decision when it would make the most sense for you to purchase it.
I know vabookworm is still posting that he doesn't think that the 84K mileage starts when you buy the warranty. To further confirm this, you can call any local Honda dealer that sells Honda Care---their warranty department can confirm these terms for Honda Care. You can also contact they Saccucci honda (their number is on the myhondawarranty.com web-site). They along with Bernardi Honda generally have the lowest prices for extended warranties on the web.
Good luck!
For vehicles over 6,000 miles the plan starts at the day you purchase the warranty. So you would get an additional 5 years/84k from the day you purchase the warranty
This would confirm that what you said was correct, that the 84k miles is on top of whatever mileage the car already has.
If you purchased a 6 year, 60k plan on the day you purchased the car new, at 3 years or 30k miles (whichever comes first) you would get back 1/2 of what you paid less a fee. If you waited until 2 years and 20k miles to buy the plan, for example, your refund would be 3/4 of what you paid less the fee.
So waiting costs more but could return more money (net and gross) than buying early. On a new car, waiting past the first few thousand miles and few months limits your warranty coverage options, however.
Dennis
Great, I'm glad I you got your question answered. It sounds like an excellent deal to me to have 84,000 miles extra coverage on a pre-owned vehicle.
Thanks greatly for the help.
I normally just spot check the highest term and mileage for the I4 Accord and last time I checked Bernardi and Saccucci had the same price on that coverage. You have to check it for yourself since the V6 price or shorter terms may not be the same.
When you google up their web pages make sure you spell the dealership name correctly, then add honda care to the search and the proper web page should come up.
Dennis
A few people have noted that you get a courtesy car if your's is in for maintenance or repair..? What if the dealer you bought your Honda from offers a different extended warranty? Do they still have to honor the Honda Car courtesy car option?
The limit is $35 per day for a maximum of 6 days or $210 for each covered repair and this includes waiting for parts.
The day limit (not waiting for parts) is based on the number of "book hours" that Honda says the repair should take.
This is the way it was last contract I read - when you apply for HC YOUR contract terms will be on the back of the application you have to sign and send back in (if buying online). Read all that fine print to make sure your policy has coverage you can live with.
Dennis
Yes, they both usually have the same prices. Their web pages are
myhondawarranty.com and hondawarrantyinfo.com.
Sometimes they offer a deal like $25 off a Honda accessory from their parts department.
Section 2B of this sample contract will give you an idea on how the rental car reimbursement works.
http://www.myhondawarranty.com/hondaSampleContract.pdf
Yes, they're for real. It's the local dealers who see the extended warranty as just another way to line their pockets with profits.
Dennis
Oh well, live & learn....
The only gotcha may be if you financed the plan with the car. If so, the refund will go back to the bank and not to you. In most cases they will apply the refund to the principle of the loan on the back end - so your payments will not go down but there will be fewer of them. If you did not finance the plan, then the full refund comes to you.
You can buy another plan online later at the reduced price, there is no rule that says you can't.
I said to take the print outs with you, since there is a chance that rather than make nothing on the plan they will offer to match the online price and give you a refund of the difference. If they do not, then cancel and re-buy online.
Dennis