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OK, I'll put you down as someone who doesn't value consumer reports information. And btw, i just stated that auto insurance is not an option which is correct.
Here's another way to look at my decision not to go with the Extended Warranty.
As I mentioned before, I've owned 5 Hondas from new ownership - and never had a reason where the warranty would have paid off. Even if I get a tranny failure on my '04 Pilot, I'm still way ahead. I figure I've saved many thousands of dollars not to have purchased the EW.
You should try looking at it over the life of many car purchases. Surely you dont' think ALL your cars are going to have a catastropic failure....do you? :confuse:
Extended warranties are NOT insurance. Not even close. Collision coverage is meant to protect against catastrophic accidents.
Let's say I drive a $100,000 (current value at the time of accident) Lexus LS 600h. Let's say that the car is totally damaged by a huge truck.
Collision coverage will cover the cost of $100,000 minus a small deductible, usually $500. The insurance saved you $99,500.
Now, let's say your engine breaks down. The extended warranty will cover the cost of the engine repair which can be $15,000 for this type of car.
Now, let's look at what you're paying for with an extended warranty vs. insurance.
For a 120,000 mile 8 year Honda Care warranty, the engine is covered by the extended warranty between 60,000 miles and 120,000 miles, or about 3 years after the factory warranty expires. During the time between the end of the factory warranty and the end of the extended warranty, the collision coverage premium you pay is well worth the $99,500 protection, but the cost of the extended warranty is not worth the unlikely $15,000 break down. An serious accident during that period is more likely than a total engine break down in a Lexus LS 600h. It's about probability.
On my car, I actually pay less in collision coverage during that same period than the extended warranty cost. Therefore, it's a no brainer.
The bottom line is, collision coverage is meant to PROTEST AGAINST SERIOUS FINANCIAL LOSS (like $100,000) vs. an extended warranty that covers at most a $15,000 engine break down.
This is the reason why I don't have collision coverage on my old Toyota Corolla. Since it's worth like $500, collision coverage doesn't cover more than its value and if I get into an accident, I would get nothing from the collision coverage, and pay 100% of the damages.
Let's say I drive a $100,000 (current value at the time of accident) Lexus LS 600h.
Your example is very uncommon. Only a very tiny percentage of cars on the road are currently worth $100,000.
Why not compare collision coverage for a more typical average valued car of $20,000?
Collision coverage is meant to protect against catastrophic accidents.
You keep stating that, but it's not an accurate statement. Collision protects against all types of accidents, large or small, not just catastrophic accidents. Collission policies pay on anything over the deductible.
Just like extended warranties pay for repairs large or small. With extended warranties you can get them with $0 deductible.
Trying to justify your argument by comparing the top values at the top end of the spectrum ignores more common and typical uses for both collision and extended service contracts.
The price of a car does not matter. What matters is the ratio of engine cost to car value. For a Lexus LS 600h it is:
$100,000/engine cost (est. $10,000) >> 1.0
For a Honda Fit it is:
$15,000/engine cost (est. $5,000) >> 1.0
It does not matter whether the car is expensive or cheap to explain my point. The cost to replace a relatively new car in a total wreck is always more than the cost to replace an engine.
This is the reason why when a car's depreciated value gets much lower, there's a threshold when it makes sense to take away collision coverage.
And YES, collision coverage does cover small accidents. Please read my statement carefully. I did not say that catastrophic accidents are the only type of accident that collision insurance covers. I'm trying to emphasize the maximum benefit that you can attain with collision insurance vs. extended warranties.
Extended warranties don't cover catastrophic accidents. In fact I could give you a long list of parts from the Honda Care contract stating what is NOT covered. It's pages long with many possible reasons to reject claims. Even if a part is stated as covered, for example, the engine, there are many reasons why the claim can be rejected. For example if a Honda technician happened to make a mistake, and the engine broke down, you're totally responsible. If a non-covered part caused the engine to break down, the engine is no longer covered. This is why extended warranties are a VERY BAD VALUE.
The maximum benefit that one receives with collision coverage and the maximum benefit that one receives with an extended warranty is a good way to measure the level of protection from financial loss. Yes, there are small accidents with collision coverage and small repairs with extended warranties that are covered, but the reason I pay for collision coverage is because it DOES protect against POTENTIALLY LARGE FINANCIAL LOSSES. On the other hand an extended warranty protects against SMALLER FINANCIAL LOSSES. With a reliable car, it makes almost no sense to buy an extended warranty.
I'm trying to emphasize the maximum benefit that you can attain with collision insurance vs. extended warranties.
Well sure the maximum benefit for collision on a 100,000 Lexus would be more than the maximum benefit for an extended warranty. But you're paying a LOT more in premiums for 100,000 Lexus than you are for a simple extended warranty.
Because you're paying a lot less for an extended care warranty, of course the maximum benefit is a lot less. That doesn't make it less of a value. Is Fit collision insurance less of a value than the Lexus insurance because the maximum benefit is less? Of course not.
For example if a Honda technician happened to make a mistake, and the engine broke down, you're totally responsible.
Correction, the place the Honda technician works for is totally responsible. Not me. I have all maintenance and repairs (including extended warranty repairs) done at the same dealership. If the dealership wants to deny a warranty claim, because they're admitting that their technician messed up, fine, they are on the hook for fixing it. Either way, they're fixing it and I'm not paying dime one.
If a person, however, didn't have Honda Care and a technician messed up, the dealership would never admit to the mistake and you would have to pay for the repair on your own. Because I have Honda Care, I don't have to worry about that scenario.
If a non-covered part caused the engine to break down, the engine is no longer covered.
This is a false statement. Here is a link to the Honda Care agreement:
Now. It seems like you are ignoring my strong and true statements and trying find errors in what I say.
I hope my points were clear to you. Mathematics can prove everything I stated about when it's worth it to have collision coverage and when it's not worth it. Mathematics can prove that extended warranties are always a bad deal on reliable cars.
For the typical $20,000 car with a $5000 engine, and a proven track record of reliability, if the premium you pay for collision insurance during the extended warranty period is less than the price of the warranty, it is usually worth it to get collision coverage and not buy extended warranties. This is assuming a typical $500 collision deductible, and a typical $1,000 extended warranty.
Well sure the maximum benefit for collision on a 100,000 Lexus would be more than the maximum benefit for an extended warranty. But you're paying a LOT more in premiums for 100,000 Lexus than you are for a simple extended warranty.
Because you're paying a lot less for an extended care warranty, of course the maximum benefit is a lot less. That doesn't make it less of a value. Is Fit collision insurance less of a value than the Lexus insurance because the maximum benefit is less? Of course not.
Let's look at two separate ratios to explain things more clearly. The ratio of a car's depreciated value over it's collision coverage premium is one ratio. The other ratio is the ratio of a car's largest repair expense over it's extended warranty cost. These are analogous measures of value for collision coverage and extended warranties. The largest claim over the premium cost is shown below.
1. (Car Value)/(Collision premium)
2. (Largest repair bill)/(Extended warranty cost)
The point that I'm trying to make can be summed up in one equation as shown below:
(Largest Claim = Car Value)/(Collision premium) is much greater than (Largest Claim = Largest repair bill)/(Extended warranty cost)
for newer vehicles.
For any particular vehicle, you need to analyze the above equation very carefully. This equation is the mathematical explanation and proof of my argument.
Whether it's a Lexus or a Honda Fit, Ratio number 1 is always greater than Ratio number 2 for newer vehicles.
A Lexus extended warranty will cost more than a Honda Fit extended warranty, but a Lexus will have potentially larger repair bills than a Honda Fit. Therefore ratio 2 will stay relatively constant.
A Lexus collision premium will cost more than a Honda Fit collision premium, but a Lexus costs way more than a Honda Fit to replace. Therefore ratio 1 will stay relatively constant.
BUT, WE ARE COMPARING TWO DIFFERENT RATIOS, AND I AM STATING THAT RATIO NUMBER 1 IS MUCH GREATER than RATIO NUMBER 2 FOR NEWER VEHICLES and THEREFORE THE VALUE OF COLLISION INSURANCE IS GREATER THAN THE VALUE OF AN EXTENDED WARRANTY.
WHEN RATIO 1 BECOMES EQUAL TO RATIO 2 AS THE CAR DEPRECIATES, IT IS NO LONGER A GOOD VALUE AND JUST LIKE EXTENDED WARRANTIES, I NO LONGER NEED COVERAGE.
Can we PLEASE get off this discussion. There a very simple answer to all of this bantering back and forth. If a person wants to purchase an extended warranty....and...he feels that he or she is now protected for xxx amount of miles or years...and....he or she now has PEACE of MIND....then he or she is satisfied. If a person DOES NOT WANT the extended warranty...and they feel as though nothing will happen (or if something does happen) he or she will take care of it cost wise...then so be it!!! As to whether or not it is cost wise to get the extended warranty or not doesn't really matter as long as the purchaser (or non-purchaser) is satisfied with or without IT!!!! I have only ever purchased one extended warranty....and that is on my 2006 Chrysler PT Cruiser LTD ... and that I purchased on-line from a Chrysler dealer for approx. $600.00. (OEM of course). It is up to the individual new car (or used car)purchaser to make up their own mind. Cost wise or not cost wise is up to the individual and all this back and forth discussion will not solve the age old problem to this "Should I or Shouldn't I"!! Please, can't we move on!!!!
I hope you can see the hyprocracy in your post by asking people to "get off this discussion" and then bantering on about your opinion like that's the last word on the topic.
I mean - this is a forum weighing the pros and cons of an EW.
If you really feel the anwer is simple and there's nothing more to say, then you're done.
This discussion is becoming humorous. I also bought an extended warranty on my Ridgeline. A complete engine breakdown did not even enter my mind when evaluating the warranty purchase. It is the small stuff that adds up, as has been mentioned before.
We had to get an alternator replaced on our 4 year old Camry-out of warranty, and the part cost alone was $440. None of these electrical parts on foreign cars are cheap.
No one should be condemned for buying one of these warranties, although I would not recommend buying anything but the extended warranty from Honda, not third party companies--as was mentioned, too many exclusions.
Many parts in a car do break down over time, even with the most reliable car, but most of the repair bills will not be covered by extended warranties.
This is a generality and a falsehood. How do you calculate that "most" repair bills will not be covered. What specifically isn't covered that you feel should be? Do you have any facts or statistics to back up your argument? Have you even read what Honda Care does cover?
You certainly didn't know the price of a Honda Care contract and you were throwing out a figure that was double the actual price.
First. let me say that Honda Care contracts vary in terms of price. It can be anywhere between $800 to $2000 on average. The dealer where I bought my Honda Fit charged me $2000 if you include the interest on it for a 7 year 80,000 mile $100 deductible extended warranty. The F&I manager was so deceptive that he did not explain the Honda Care contract and what is NOT covered by the extended warranty. One of the reasons that I'm against extended warranties is because people who sell them are not very honest. They're very tricky and often out to make money from you. I felt very tricked and deceived, three weeks after I signed for the Honda Care extended warranty, when I received the ACTUAL Honda Care contract that revealed what was truly NOT covered. It was totally not the product that I had thought I purchased when I signed the Honda Care purchase agreement. I've read the Honda Care contract from front to back, and it doesn't take a Honda mechanic to tell you that the limited parts that are COVERED are LEAST likely to break down, and the parts that are NOT COVERED are the MOST likely to break down. For example, all of the normal wear and tear items are not covered, such as brake pads, tires, head lights, and glass. The parts that fail due to normal wear and tear are generally not covered. In other words, parts that DO wear out under normal conditions are NOT covered.
For example, all of the normal wear and tear items are not covered, such as brake pads, tires, head lights, and glass.
Wear and tear items like tires and brake pads aren't covered by the factory warranty either, so I don't think most people would think they would be covered by an extended care contract. Those parts are designed to wear and be replaced after a period of time.
The dealer where I bought my Honda Fit charged me $2000 if you include the interest on it for a 7 year 80,000 mile $100 deductible extended warranty.
I wish you would've had a chance to post the price on this board before you purchased. I could've advised you of a better deal on that. For example, I just went to myhondawarranty.com and got a quote for a Fit warranty with the same mileage and duration that you described for only $460.
But since you have made the purchase, you should know that the Honda Care contract can be canceled during the first 60 days and you'll get a full refund. If you financed the car, they'll send the refund to your loan company to place against your loan. But it will be $2,000 less that you'll eventually have to pay. If you passed the 60 day deadline you can still get a large amount of the money back because they'll prorate it and they charge a $25 processing fee.
Since you weren't pleased with the coverage, I'd definitely recommend that you exercise that option.
Here is the section of the contract that details the term of the refund.
V. CANCELLATION OF CONTRACT If YOU cancel this CONTRACT:
1. On or before sixty (60) days following the commencement of the CONTRACT period: 1. You may cancel this CONTRACT and receive a full purchase price refund, if no services have been rendered to or on behalf of YOU. 2. If services have already been rendered to or on behalf of YOU , the refund will be the lesser amount calculated as. 1. A time pro-ration based upon the time expired; or 2. A mileage pro-ration based upon the number of miles driven 2. After sixty (60) days following the commencement of the CONTRACT period, the refund will be the lester amount calculated as: 1. A time pro-ration based upon the time expired; or 2. A mileage pro-ration based upon the number of miles driven ALL CANCELLATION REFUNDS AFTER SIXTY DAYS ARE SUBJECT TO A $25 PROCESSING FEE.
3. For cancellation, return this CONTRACT to YOUR DEALER, and complete a cancellation Request Form.
Wisemoney, I was trying to understand your vehemance until I read your post. "First. let me say that Honda Care contracts vary in terms of price. It can be anywhere between $800 to $2000 on average. The dealer where I bought my Honda Fit charged me $2000 if you include the interest on it for a 7 year 80,000 mile $100 deductible extended warranty. The F&I manager was so deceptive that he did not explain the Honda Care contract and what is NOT covered by the extended warranty. One of the reasons that I'm against extended warranties is because people who sell them are not very honest. They're very tricky and often out to make money from you. I felt very tricked and deceived, three weeks after I signed for the Honda Care extended warranty, when I received the ACTUAL Honda Care contract that revealed what was truly NOT covered. It was totally not the product that I had thought I purchased when I signed the Honda Care purchase agreement. I've read the Honda Care contract from front to back, and it doesn't take a Honda mechanic to tell you that the limited parts that are COVERED are LEAST likely to break down, and the parts that are NOT COVERED are the MOST likely to break down. For example, all of the normal wear and tear items are not covered, such as brake pads, tires, head lights, and glass. The parts that fail due to normal wear and tear are generally not covered. In other words, parts that DO wear out under normal conditions are NOT covered.
Man, you got rooked.They got you good.You paid $2,000 for a warranty, Jet says could have been had for $460? Anyway I feel good about my purchase. Granted I was coming fom an aged non Honda vehicle that I had sunk alot of money in in the last few years before trade in. But as an advocate of cheap insurance I was happy with what I got. After negotiating a 2008 Accord to below invoice(substantially) and arguing away all crapola fee's, At the f & I the manager tries to sell me Hondacare 8 ears/120mo at $1980. I've researched Saccucci, Hyannis and the like and countered with $940. Dammit if they didn't run a sale that weekend and I could have got it for $915 online. The manager immediately agree's and we do the deal.I am a AAA member and will not take the risk my wife has to walk down a freeway in Houston, Tx summer weather should a mishap occur. AAA costs me $55 a year for classic plus $26, spousal add on.If I put it on automatic renewal on a cc, I get $4.50 off. $55 + $26 = $81- $4.50 = $76.50 * 7 = $535.50. So for $940 - $535.50 + $24 for cancelling AAA this year =$559.50 or $380.50 I get five years past warranty of 3 yrs/36,000 miles for an additional 5 yrs and 84,000 more miles for $380.50 or $76.10 per each of the 5 years.. Should a mishap occur they will re-imburse me $35 for a rental a day up to $210 and should it occur on a trip out of town uo to $300 for lodging and food.Yes it's peace of mind but also a good deal insurance wise. As a financial professional I advise my clients to take umbrella policies and flood insurance which offer high protection for small premium.Oh btw I'm zero deductible so for $380.5 over that I would have been paying any way, I have peace of mind that no computer sensor is going to cost me alot.If the reliability of the car proves me wrong, what a small price I've paid.
the length of the posts here to support buying an EW are beginning to look like the fine print in an EW.
Supporters of EW say wisemoney got "rooked" into paying 2,000 for his EW. I say others are "rooked" at paying even half that. How can you even calculate where the value is when all you're really buying is peace of mind (falling prey to your fear).
Don't take my word for it, even Consumer Reports will advise you against falling for the EW. When you buy a Honda, you're buying one of the most reliable cars of made today. You've done well to choose a Honda, so why get "rooked" into buying an EW?
I'd like to know if people here pushing the EW are in the business of selling them? I just can't believe you'd be so adamant about spreading your own fear of ownership to other Honda owners. Maybe a Chrysler product, but not a Honda.
I say others are "rooked" at paying even half that. How can you even calculate where the value is when all you're really buying is peace of mind (falling prey to your fear).
You've been really quite adamant at labeling everyone who makes a purchase of an extended warranty as being in "fear".
It's one thing if you don't agree that the value of the service contract is worth the money being charged. That's a matter of opinion. It's quite another for you to start generalizing and name-calling.
As I've already pointed out, there is a value of the service provided to assume future risk. Not just in extended warranty contracts, but in car insurance, and commodity futures, and plenty of other examples in the financial markets. Are all people buying collision insurance doing so out of fear? How about a futures contract for wheat?
A service is offered and if buyers feel that the service is worth the price, then in a free market, a transaction occurs.
Just because you have a sociology degree, there is no need to label everyone who buys a contract as being "fearful". It would be VERY shortsighted of you if you feel that that is the only motivation of people who engage in these transactions.
Thank You Jet10000, That is absolutely correct. My decision was hardly based on fear. Personally I'm not in the car industry at all aspesisteve. Had I not purchased at the dealership for an online price I would have done so subsequently online.The low cost of protection versus the high coverage made it worthwhile imo.It's seems to me even if Honda care were $1,aspesisteve would argue the $1 wasted. Regarding Consumer Reports, a fine organization however they assume all EW's are purchased at retail. Agreed Honda is a fine car or I wouldn't have bought it. Your statistical sample of 5 you have owned yourself is hardly ample to base even a fool's conclusion of part failure rate. Short enough for you steve?
"The low cost of protection versus the high coverage made it worthwhile imo.It's seems to me even if Honda care were $1,aspesisteve would argue the $1 wasted"
Extended warranties are supposed to give you peace of mind from repairs, but it actually has the opposite effect on me. It causes me fear that what breaks in a car might not be covered by the warranty.
On the other hand, investing the cost of the extended warranty in a 3.5% HSBC savings account gives me peace of mind knowing that it's statistically unlikely that I'll have to use all of it as proven by Consumer Reports, and anything that does break down will actually be covered by cash in my savings account.
"investing the cost of the extended warranty in a 3.5% HSBC savings account gives me peace of mind knowing that it's statistically unlikely that I'll have to use all of it as proven by Consumer Reports, and anything that does break down will actually be covered by cash in my savings account. "
you can get a nice Plasma screen TV for the cost of an EW these days. And if they try and sell you an EW for that, make sure you opt out.
I know I don't have to convince wisemoney on that.
Heard on the NAPA radio show this weekend that if something happens to the AC on one of the Foreign cars (Honda, Toyota, etc.) the bill can be in the thousands--that is enough to sell me on the Hondacare warranty.
investing the cost of the extended warranty in a 3.5% HSBC savings account gives me peace of mind knowing that it's statistically unlikely that I'll have to use all of it
If that's the case, then why haven't you gotten a refund on the extended warranty you bought for $2,000?
If that's the case, then why haven't you gotten a refund on the extended warranty you bought for $2,000?
I did get the refund as soon as I could, but the dealership was so greedy that they tried to delay the refund past the 60 days in order to prorate the refund. Luckily, I finally got my refund back and applied towards the principal of my loan. If it takes that long after filling out a cancellation form with the F&I manager, I can't imagine dealing with repair claims.
I've never heard expression of such glowing admiration for CR in every post. You don't work for them do you? Just curious aspesisteve, you've owned 5 Honda's in how many years? And your average length of ownership would be what? It's those 7th and 8th years that can be tough. Please specify if any or all of the 5 were leases.
I wanted to wait for a response from my last post before contributing this but darnit the forum just doesn't move fast enough. Most likely because this is one of the few forums where the naysayers outweigh those with actual experience. Btw, TY sparkland for your real world story regarding your camry alternator.So naysayers, please respond with your actual length of ownership ( some in the past have done so) And whether or not it was a lease. The following are posts to an edmunds forum on repairs. I went only back to April '08. By and large the Honda Accord is a fine vehicle and many had no problems. And note as well it excluded 8 years of ownership which would have included 2001-2002 and possibly some 1999. It's long, a-steve, no way around it . I tried to include all points of view, adding to it's length. Summation; in the real world crap doth happen. Own Accord EX 2003 (4 cyl, auto) with 112K (km) mileage. After 100K as Dealer recommended
changed tranny liquid (at Honda dealer shop). Four months later discovered red color spots on my
garage floor- tranny dripping (still not much as tranny liquid level is OK). Do not have any problems
with tranny- smooth and responsive. Honda technician recommended to replace (not funny!)
transmission ($4.5K) as "diff bearings worn". Really appreciate any advice what I should check for.
Thanks
Hi Everyone:
Anyone encounter this before? 75k miles. I have lubed all the applicable pivot points (they're only on
either end of the clutch mechanism since it's a hydraulic clutch) and it went away for a while, but
now it is back with a vengence. More lube does not help. Very irritaing. Hope I do not need to
replace the clutch master cylinder. Any insight would be very much appreciated.
Okay...I bought my lovely little '05 EX-V6 sedan in July of '05. I now have 53k on the odometer, and
all of a sudden my AC cut out. Now, if I lived in Chicago, or Wisconsin, it wouldn't really be of any
concern, but I'm in Panama City, Florida. It's already in the upper 70s to lower 80s during the days
here, and to my avail no AC. Being as handy as I could, I went to my local auto parts store and picked
up some R-134A with a gauge. Went home to fill it up, and presto, my pressure was too high (~95).
Took it to the Honda service despite the $123 diagnostic fee just so they could tell me that I needed a
new compressor. $1550!!! This car isn't even 3 years old! A compressor?!?!?! So I call Honda of NA to
see if they'll cover the repair. I've heard before that even after your warranty has worn out they'll
still cover some items that are deemed to be defective, or just prematurely go. I called them Thurs.
and the guy on the other end of the phone takes down all of my information, asks me a few questions
about my Honda-owning history (Wife has an '07 Pilot), what the problem is, etc. He kept asking me
what they said was wrong with the compressor. I have NO CLUE! I wish I knew and I'd just fix the
damn thing myself! He tells me I'll be contacted in 1-2 business days by a "Regional Claims Manager".
In the meantime, my local dealership has agreed to leave my bill for the diagnostic open in lieu of the
decision from Honda of NA. Well the 2 days have passed, I have re-contacted customer service and
they sent the dude an e-mail, but still nothing. We hit 81 today, and my 2 year old isn't really digging
riding in Daddy's oven. Are they stonewalling me? What should I do? I know what I really want to
do, and that's send them 5 certified letters, as well as a copy of the ad for my Accord and my wife's
Pilot up for sale! Hopefully Honda will come thru on this one, otherwise I'll go on to Nissan, Toyota,
VW, or someone else!
2003 Accord transmissions are failing in many cars. You can google 2003 accord transmission and you
will find site(s) with problems. Honda had a recall in 2004 to fix something with the 2/3rd gears but
it didnt do squat. I think they knew it will fail at 70-100k mi well above warranties to protect
themselves. My car is in the dealership almost had a wreck. Trying to Honda to replace their junk.
The transmission failures seem very common. My radio also went dark but was replaced as 'goodwill'.
Its another common problem. Be safe and I recommend not driving until transmission is fixed.
Good luck
I have a 2005 Accord EX-L sedan (4 cylinder / AT). I'm starting to hear what I'd call a "metallic
sound" coming from the from end of the car when I turn left or right. The sound isn't constant when
turning; it's rapid. I don't hear the sound when travelling in a straight line, only while turning.
I don't think it's the brake pads...I've had no trouble stopping the car. Nor have I noticed a problem
with the car's handling. I don't think it's the transmission either...I don't feel any problems like a
missed gear or anything. It's just annoying because it sounds like the car is an old beater when in fact
it's only going on 3 years old come this June.
Any thoughts as to what this might be? Has anyone else experienced this?
Alright...I got my 05 Accords compressor replacement fully covered, out of warranty, by Honda.
They initially only agreed to cover the parts, but after prompting repeatedly, decided to cover the
entire $1550 bill. So, if you need to deal with them, be stern in your expectations, and don't accept
their initial offer! I swear it was just like buying a new one.
That's why I bought ext warranties for my Honda & Lexus. One repair like this will pay for the warranty cost. You never know when & what parts are going to fail.
Didn't he just give an example of how the extended warranty is not necessary?
I think what he is saying is that even if you never have to use it it's nice to know that it's there. Like
he said you just never know. It's better safe than sorry. Say the transmission blows out, the warranty,
at least in my case cost $1700 and change, while the tranny costs about $4000, which would more
than make up for the paltry $1700, and the warranty would cover the tranny. Money well spent in my
opinion. To each his own I guess.
Honda took the bill because his car is less than 3 yrs old even though the mileage exceeded 36K. Did you see how much hassles he went through to have it repaired free of charge?
#3757 of 3944 Re: Dealing with Honda... [chucko3] by elroy5 Apr 09, 2008 (5:27 pm) Save | Reply Replying to: chucko3 (Apr 09, 2008 4:49 pm)
I guess each person's experience with extended warranties is different. I made the mistake of paying
$600 for a 7 year/100k mile extended warranty on my last car. That $600 payed for 1 $5.00 knob, so I
actually wasted $595. Needless to say, I didn't buy an extended warranty for my current car. The head
unit display circuit board went out at 49k miles, well after
Lord it's long, I apologise. The posters do go on.....
36k mile warranty had run out. Since
the circuit board was a known defect, Honda extended the warranty on it to 7 years/100k miles. No
charge. I think I'm saving myself some $$$ this time.
I think Consumer Reports said it best. "The only reason you should feel the need to buy an extended
warranty, is if you know the car you're buying is a " Why would you do that?
Aspesisteve, are you elroy 5 ? The CR clued me in.
I am back, ONE YEAR LATER, to warn others.... My original post was from exactly a year ago....
Finally, after many delays I went to the dealer with this complaint about a "chirping" sound that was
coming from the left side (Serpentine belt side) of the engine when in idle....
They kept the car for inspections, and after an hour called me and told me that since they need to
keep the car, and don't have a loaner, I need to rent a car (under warranty)....
I asked why can't I come back in a couple days when they do have a loaner. The answer was "no, we
don't want you to drive this car".... Turns out the Timing Belt tensioner was loose and was rubbing
against the belt itself.... This has been going on for OVER A YEAR now.... It could have caused the
belt to SNAP and RUIN THE ENGINE.....
So, any chirping sound, coming and going in a slow interval, like a bird was chirping...
prrrr...prrrr...prrrr... ---- Don't wait, bring it to the dealer.....
sidenote: he paid for the loaner.
It seems your Accord was cranking but would not start (turnover). If that's the case could be igniter
or something in the distributor, or some type of relay. I have a new 2007 Accord 4cyl. Seems my car
sometimes will not crank or start(turnover), however on the second turn of the key (without pulling
out the key), it will start. This happens very seldom, Im not really concerned at this point since it has
always started on the second turn of the key. Anyone knows what is causing this problem? I tried
changing to my second set of keys, the problems is still happening.. I think it's a bad starter or bad
relay.
Hi, I own a 2005 V6 Accord Coupe with 45,000 miles. It has been an incredible car and I have had no
problems with it, until the other day. I tried to start it and all the engine would do was turn over, but
would not start. I have had this problem with an Acura TL, and it was the computer key. I just waited
and re-inserted the key and the car started. The Accord wouldn't start after doing this. I had the car
towed to the local Honda dealer and after I got it there, it started up without a problem! Yesterday, I noticed a man with a new Honda CRV and his car was doing the exact same thing! My
car hasn't done this since that one time. The Honda people didn't seem to know what was causing this
problem either. Has anyone here had this problem with any of their Hondas or Acuras? Thanks
I just purchased a 2004 Accord EX-L with a Navi system. I had it for about a week when the Navi
system started to act up. Intially it started by taking a long time (2-3 mins) to engage and within a
few days later the system rebooted. After I enter the unlock code the system would work for a day or
two and it rebooted again. I brought the car back to the dealer and they found the battery to be bad.
They replaced the battery and the Navi system continues to reboot. Now the dealer tells me the head
unit is bad and its going to cost 3K to replace.
The car is out of warranty and the dealer does not want to offer any goodwill.
Has anyone experience the same problem with their navi system?
Olly Olly Income free. Hope I didn't bust aspesisteve and Wise.They were fun. A lessor and a pt cruiser owner . Post I'd love to see. "aspesisteve, well duke, the real reason I never had any mechanical problems was because I turned my Honda's back at lease end which were 36 and 48 months. But I did stay at a Holiday Inn last night. If i'm being too harsh, I apologise but the math seemed flaky to me with 5 Honda's and 7 years of owner or 5 Honda's and 8 years of ownership.So my guess was lease.
aspesisteve could have owned two Hondas at a time. It doesn't have to be 5 Hondas, one at a time, if he has a family. Certainly people have many experiences with Hondas, and I've found that those who take extreme care of their Hondas have the least likelihood of breakdowns after the factory warranty. Consumer reports doesn't lie. CR is based on non-biased reports from real owners.
If it takes that long after filling out a cancellation form with the F&I manager, I can't imagine dealing with repair claims.
Well I don't have to imagine what it's like dealing with repair claims with Honda Care because I've done it and it's the easiest thing to do. Once you have a Honda Care, they display your VIN number in the nationwide database that shows you have the coverage. So no matter what dealership you go to for service, they immediately know.
Furthermore, the repair shop has every incentive, to make sure that I get all warranty repairs that I need, because they get paid by Honda Care for all of their charges. They have NO incentive not to get you your repairs. They make money on every legitimate repair.
I don't even sign any additional paperwork or have to file any claims. The dealership does it all.
You're under the misguided impression that somebody is there thinking up excuses as to why they can't pay. It works exactly the opposite of that. They scour my car to make sure that I have every repair I need. Top notch service.
I checked Saccucci and Hyannis and both are not selling to California right now. Does anybody know of any way for us who live in California to get the cheap warranty price without slugging it out with the dealer?
This happened at Honda of Steven Creek, San Jose California. I bought a 2008 Honda hybrid and was convinced into purchasing an extended warrantee package (Honda Care) for $1595. After reading a article on Consumer Report and conducted my research, I went into this dealer to exercise my right to cancel the contract (within 60 days). According to Honda, you can come in any Honda dealer to cancel this warrantee. A Sale Rep (Asian,5ft.7, ~170lbs) was sent to help. Knowing I came in to request a "cancellation form" the guy changed his attitude and became an [non-permissible content removed] with rude, impolite, disrepectfull and full of helplessness. He made me wait indefinitely outside the finance doors, and when I was so frustrated and tried to approach the finance office, the guy just jumped on my face, raised his voice and verbally throw me out of the premises and thread he'll call cop (?!) if I continue. I think he knows the finance guys were in there selling extra packages to customers. It's totally outrageous to experience this attitude from a brand name dealership especially after the selling is done? Imagine if I need to come in to file a claim for the warrantee bought with that kind of manner. Don't expect to make your claim smoothly without some kind of hassles and excuses. After they got your money it seems nothing else matter to these guys. Btw, I heard they make about 40% of commission at the dealer selling this extended warrantee.
Totally unforgiveable greensave, I would write a complaint letter(certified) to Honda motors of America corporate. You were treated very shabbily. It's a little confusing but you went to another dealer to cancel the contract that you purchased from a different dealer right ? Either case they treated you very unprofessionally. Also difficult to know exactly which warranty you bought. This was a 2008 civic hybrid? Per hondaextendedwarranty.com you over paid a minimum of 60% at highest cost. 120,000 miles, 0 deductible. For anything lesser it was of course much more. It wouldn't surprize me if your figure was correct for commission but I'll defer to someone who has first hand knowledge. You were absolutely correct to cancel the contract. As a sidenote always do your homework before entering any dealership. Additionally, jet10000 was also correct. When you have a claim you deal with the service department, never f&i and the service department is more than happy to perform your warranty work with no hassle. They are getting paid for all legitimate work. Imo, it's a very good product and covers the vast majority of mechanical parts.Follow through with your complaint against this dealership. Honda corporate does not want the field acting like that.
Available coverage for your 2008 Honda Civic Hybrid with 6 miles. Coverage Level $0 Deductible $100 Deductible 5 years/60000 miles $380.00 Not Available 5 years/80000 miles $570.00 $470.00 5 years/100000 miles $660.00 $560.00 6 years/80000 miles $590.00 $490.00 6 years/100000 miles $725.00 $625.00 6 years/120000 miles $835.00 $735.00 7 years/80000 miles $615.00 $515.00 7 years/100000 miles $800.00 $700.00 7 years/120000 miles $915.00 $815.00 8 years/100000 miles $885.00 $985.00 8 years/120000 miles $1,000.00 $900.00
You are correct and I had not considered more than one vehicle at a time. But we would still need to know aspesisteve 's age and length of ownership of his 5 Honda's. The last is the real key. Has he owned any long enough to get into the zone where mechanical breakdowns occur even with a good car. Also a reply to my query if any were leases. While CR maybe real owners in the real world, it is also an overview of EW's by all manufacturers not just Honda and those sold at retail prices. The excerpts from the Edmunds forum , maintenance and repair Honda Accord 2003-2007 were also real world and real people.
I do not larryallen. I know there is an issue with Florida, even prior to the lawsuit, but have not heard any reason why California should be excluded. There used to be some Honda dealership employee's that sold extended warranties online that would post here. Hopefully some of them will return. Apologies for being a post hog but trying to inject some life into this previously moribund forum.
I know there is an issue with Florida, even prior to the lawsuit, but have not heard any reason why California should be excluded.
This happened in late March. See post 2269 for more information.
The only way I know for Californians to get around this, is if they have a second home in another state, they can order the warranty there, and once you own the warranty, Honda will honor it at any dealership.
As a service advisor at a Chevy store, I can safely say that the vast majority of people who come through here with service contracts see little return of their 'investment'. A relative handfull have had enough claims to merit the cost of a contract. The evil engine or transmission replacement that F&I people scare customers with (yes, it's a scare tactic) is rare, usually caused by poor maintenance rather than a defect.
I consider 'peace of mind' to be of little value when you're handing your power over to someone else. I don't want anyone else to decide how my car gets fixed, when, where, or with what parts. With a manufacturer-backed contract, there is less worry that shortcuts will be taken, but there is still that chance. That does not give me peace of mind, it gives me a headache.
you're right, these warranties are full of commission, fine print and FEAR.
the salesmen aren't upset that you want to cancel because they are looking out for you, rather it's their commission they are looking out for.
In this economic time of below invoice deals, I would bet that there is more commision made on the warranty than many of the car deals out there.
please spare us all the two foot long posts about someone's car breaking down. it's just spreading unneccessary fear to those who own some of the most reliable cars ever made.
just another reason to stay away from the EW. if Honda isn't willing to let you shop the internet for a competitive bid, you are just asking to be taken to the cleaners.
are you really going to read the fine print before signing away? This shutting down the internet sale of the warranty is a blantant attempt to avoid competition which can only result in higher prices.
Imagine if Honda dealers said you can only purchase a Honda from the closest dealer to your zip code :surprise:
Mitzij, , I couldn;t agree more. GMMPP really does bite the big one.From what I could see most of the sensors and electronics aren't covered. I can see easily how how gm customers have been screwed.I can also see from your past posts that you have posed as an expert on Honda, Toyota, Nissan and Acura warranties and/or problems.My fear isn't engine or transmission. I got an lifetime limited power warranty thrown in free. The salesman asked what value I would give for a lifetime ltd powertrain warranty and I said $50. But I'll give credit to you for being consistent through out your posts if you'll post a reply to this question.What does your store charge by the hour and explain to the uninformed what the "book" says about time required to perform a job ( min-max) , You are the true profit center to your store. I hope they appreciate that. The part cost I fear not as much as the labor. So please volunteer your hourly labor cost.
Aspesisteve is back and ignoring the questions asked previously as per usual.
1) Your age ?
2) your length of ownership of your 5 Honda vehicles ?
3) have any or all been leases?
Lmao at your fear, just agree to personally imdemnify me via written contract and I'll gladly cancel my contract and get back 119/120 premium and be a happy camper. They took the risk, why shouldn't you? But I agree with your retail purchase at retail std prices of EW comment that it is a bad deal.Oh btw I doubt that the saleman gets a piece of EW, salesman please correct me if I'm wrong but the " sale" occurs after the salesman stage, ie f&i. I believe this goes to the p&l of the dealership.
As a service advisor at a Chevy store, I can safely say that the vast majority of people who come through here with service contracts see little return of their 'investment'...
With a manufacturer-backed contract, there is less worry that shortcuts will be taken, but there is still that chance. That does not give me peace of mind, it gives me a headache.
Well you may get a headache from your concern about shortcuts being taken on your repairs. But it sounds like your experience comes from observing how things go at a GM repair shop and not a Honda one. As this forum is called, "Honda Extended Warranties Pricing and Info", I would still maintain that I have had nothing but great service from Honda dealerships when they fix items on my cars using Honda Care.
It would make sense that GM repair shops might have a different commitment to honoring their extended care contracts than Honda does. After all, GM lost $3 BILLION in just 3 months. (Jan-Mar 2008). Perhaps, if they offered better quality products and service they wouldn't be losing catastrophic amounts of money.
You may be entirely right in your observations at your place of work. But it doesn't sound like you get to observe any Honda Care claims there, which is what I have and what many people who post here also say they have.
I found it odd that no one ever rails at the lease buyers the way they do at the EW buyers in this forum. Many,not all pay msrp or close when they purchase. The primary reason given for leasing is " convenience" . The lease buyers pay sales tax each time they lease, as well as t&l. Also all bs dealers fee's if they haven't negotiated them out. They rarely have any equity at lease end. If they drive too much or have something happen to the vehicle, they may have negative equity or a lease termination fee. Granted they never have mechanical issues, many never leave standard warranty. Any way, given my states sales tax 6.25% ( what's yours ?), the ancillary fee's are making my discounted ew price seem trivial. Non incorporated lease buyers how to you explain your rationale? On a non related side note my home insurance really sucks. Been paying that bad boy 22 years and my home hasn't burned down once. I'd have been better off paying into an HSBC savings account at 3.5 %. Prior to paying my mortgage off I tried to sell that idea to my mortgage company but for some odd reason they balked.Also not having an accident for over 25 years, why should I continue to pay the high fee's ? This is based on the 5 vehicles I've owned in my lifetime. Do you think CR would po too many people if the came out against the idiocy of leasing?
I've not once 'posed' as an expert on anything. I've always made clear where I work, what I do, and how I've reached my opinions. Any information I've posted about manufacturers' warranties or service contracts has been researched before posting.
Our shop's labor rate is $53.00 per hour. We generally go by a Motors labor time guide. We're a small store in the middle of an agricultural state. A nearby dealership keeps their rate low, so we do, too. Other shops in the area are around $75 per hour.
I've read many service contracts. Every one has a line to the effect of 'may use salvaged or aftermarket parts at our descretion'. This is usually not a problem with manufacturer-backed plans (as I already stated), but it is in the contract, and it is representative of a decision that I want to make about my own car rather than a decision I want someone else to make about my car. If I wreck my car, I am happy to pay an insurance company to take care of me. The costs involved with vehicle accidents are high enough to merit paying someone to assume the risk. In regards to getting my car fixed for mechanical issues-I want to know what's being done, why, how, and where. A service contract hands all of those decisions over to an adjuster.
For the record, we don't take shortcuts working on people's cars. If a customer requests a shortcut (as in: do it the cheapest way possible), we note it on the bill and the customer signs off on it. GMPP claims are treated as if they were warranty claims. I don't believe Honda Care claims are shortcutted, either, but I have dealt with the company that administers Toyota's service contract claims (they sell the same contract to other folks, under a different name), and they usually want to send us 'parts from our warehouse', which are generally junk.
what business is it of yours what my age is? I have never leased a Honda before.
My first Honda was a 1979 Accord. Purchased new for $6,100. I owned that car for 9 years and the only thing I had to replace was tires, a water pump ($60 part I installed myself) and the battery - which is not covered by an EW. The car did have carburator problems after 100k miles. I don't know what an EW would have cost back then, but I'm sure it was more than $60.
My 2nd Honda was a 1988 Accord. My wife purchased a new Accord in 1992. We had an Odyssey in 2002 and now have a Pilot. No major repairs - in fact there were no repairs other than those covered under the factory warranty or recall than I've experienced.
Like I said - an EW would not of paid off for me. Perhaps it gives comfort to those who worry and fear the catastrophic breakdown, but not me.
Tell us how many Honda's you've owned? Maybe you can learn something from someone with a little more experience in life?
Credibility, that's what business it was of mine.Ok working the time line, you traded your '79 Accord for an '88. Your '88 for an Ody '02 and your '92 for a Pilot? Forgive me if I'm wrong but you don't provide details willingly.Date of purchase on the Pilot ? Did I ever claim to own generations of Accords? Far from it I admitted comng from a non Honda brand on my first post. Oh I'm sure I can learn from your life experience , btw you never stated your age? More witholding?But in the final analysis we have only one, two if you would part with more facts ,vehicles held 8 years or more yet you portend to be an expert in Honda part failure rates. Give it up bub.
Thank you for posting your hourly rates. Many independents around me charge $ 95-110 per hour and and tweak the book to the maximum. I don't excuse the insurance provider for the outlandish premium I pay despite no claims. Is it my fault the Florida people with four hurricanes and the Katrina people scammed them so badly? I keep hoping they will go from a mutual to a stock company as other mutuals have done, but my patience is wearing thin.I may choose to switch providers this year and save $1,000 and watch those b'stards go stock once I do so.. You do not have experience with Honda care but at least you admit so.But at least you are not a poseur as some others might be.My commendations on doing such cheap and clean warranty work. And based on your rates I can see your trepidation with ew. If only your competition was the same.
you're being rediculous telling me I have to prove that I didn't need an EW with my Honda ownership. That I must state my age.
The fact that you can't believe that the majority of Honda's don't experience a catastophic break down says you don't even understand the business of selling warranties. That you don't understand that Honda makes a reliable product
You do know they make a profit off the EW...don't you? It's simple math - the majority of these EW provide nothing more than security. I understand that some people do use them. But for some reason you can't understand that I have not in my lifetime needed an EW??
Comments
And btw, i just stated that auto insurance is not an option which is correct.
Here's another way to look at my decision not to go with the Extended Warranty.
As I mentioned before, I've owned 5 Hondas from new ownership - and never had a reason where the warranty would have paid off. Even if I get a tranny failure on my '04 Pilot, I'm still way ahead. I figure I've saved many thousands of dollars not to have purchased the EW.
You should try looking at it over the life of many car purchases. Surely you dont' think ALL your cars are going to have a catastropic failure....do you? :confuse:
Extended warranties are NOT insurance. Not even close. Collision coverage is meant to protect against catastrophic accidents.
Let's say I drive a $100,000 (current value at the time of accident) Lexus LS 600h. Let's say that the car is totally damaged by a huge truck.
Collision coverage will cover the cost of $100,000 minus a small deductible, usually $500. The insurance saved you $99,500.
Now, let's say your engine breaks down. The extended warranty will cover the cost of the engine repair which can be $15,000 for this type of car.
Now, let's look at what you're paying for with an extended warranty vs. insurance.
For a 120,000 mile 8 year Honda Care warranty, the engine is covered by the extended warranty between 60,000 miles and 120,000 miles, or about 3 years after the factory warranty expires. During the time between the end of the factory warranty and the end of the extended warranty, the collision coverage premium you pay is well worth the $99,500 protection, but the cost of the extended warranty is not worth the unlikely $15,000 break down. An serious accident during that period is more likely than a total engine break down in a Lexus LS 600h. It's about probability.
On my car, I actually pay less in collision coverage during that same period than the extended warranty cost. Therefore, it's a no brainer.
The bottom line is, collision coverage is meant to PROTEST AGAINST SERIOUS FINANCIAL LOSS (like $100,000) vs. an extended warranty that covers at most a $15,000 engine break down.
This is the reason why I don't have collision coverage on my old Toyota Corolla. Since it's worth like $500, collision coverage doesn't cover more than its value and if I get into an accident, I would get nothing from the collision coverage, and pay 100% of the damages.
Your example is very uncommon. Only a very tiny percentage of cars on the road are currently worth $100,000.
Why not compare collision coverage for a more typical average valued car of $20,000?
Collision coverage is meant to protect against catastrophic accidents.
You keep stating that, but it's not an accurate statement. Collision protects against all types of accidents, large or small, not just catastrophic accidents. Collission policies pay on anything over the deductible.
Just like extended warranties pay for repairs large or small. With extended warranties you can get them with $0 deductible.
Trying to justify your argument by comparing the top values at the top end of the spectrum ignores more common and typical uses for both collision and extended service contracts.
$100,000/engine cost (est. $10,000) >> 1.0
For a Honda Fit it is:
$15,000/engine cost (est. $5,000) >> 1.0
It does not matter whether the car is expensive or cheap to explain my point. The cost to replace a relatively new car in a total wreck is always more than the cost to replace an engine.
This is the reason why when a car's depreciated value gets much lower, there's a threshold when it makes sense to take away collision coverage.
And YES, collision coverage does cover small accidents. Please read my statement carefully. I did not say that catastrophic accidents are the only type of accident that collision insurance covers. I'm trying to emphasize the maximum benefit that you can attain with collision insurance vs. extended warranties.
Extended warranties don't cover catastrophic accidents. In fact I could give you a long list of parts from the Honda Care contract stating what is NOT covered. It's pages long with many possible reasons to reject claims. Even if a part is stated as covered, for example, the engine, there are many reasons why the claim can be rejected. For example if a Honda technician happened to make a mistake, and the engine broke down, you're totally responsible. If a non-covered part caused the engine to break down, the engine is no longer covered. This is why extended warranties are a VERY BAD VALUE.
Well sure the maximum benefit for collision on a 100,000 Lexus would be more than the maximum benefit for an extended warranty. But you're paying a LOT more in premiums for 100,000 Lexus than you are for a simple extended warranty.
Because you're paying a lot less for an extended care warranty, of course the maximum benefit is a lot less. That doesn't make it less of a value. Is Fit collision insurance less of a value than the Lexus insurance because the maximum benefit is less? Of course not.
For example if a Honda technician happened to make a mistake, and the engine broke down, you're totally responsible.
Correction, the place the Honda technician works for is totally responsible. Not me. I have all maintenance and repairs (including extended warranty repairs) done at the same dealership. If the dealership wants to deny a warranty claim, because they're admitting that their technician messed up, fine, they are on the hook for fixing it. Either way, they're fixing it and I'm not paying dime one.
If a person, however, didn't have Honda Care and a technician messed up, the dealership would never admit to the mistake and you would have to pay for the repair on your own. Because I have Honda Care, I don't have to worry about that scenario.
If a non-covered part caused the engine to break down, the engine is no longer covered.
This is a false statement. Here is a link to the Honda Care agreement:
http://www.hondacareextendedwarranty.com/contract.php
Tell me where it says that if any non-covered part causes the engine to break down, the engine is no longer covered.
I hope my points were clear to you. Mathematics can prove everything I stated about when it's worth it to have collision coverage and when it's not worth it. Mathematics can prove that extended warranties are always a bad deal on reliable cars.
For the typical $20,000 car with a $5000 engine, and a proven track record of reliability, if the premium you pay for collision insurance during the extended warranty period is less than the price of the warranty, it is usually worth it to get collision coverage and not buy extended warranties. This is assuming a typical $500 collision deductible, and a typical $1,000 extended warranty.
Because you're paying a lot less for an extended care warranty, of course the maximum benefit is a lot less. That doesn't make it less of a value. Is Fit collision insurance less of a value than the Lexus insurance because the maximum benefit is less? Of course not.
Let's look at two separate ratios to explain things more clearly. The ratio of a car's depreciated value over it's collision coverage premium is one ratio. The other ratio is the ratio of a car's largest repair expense over it's extended warranty cost. These are analogous measures of value for collision coverage and extended warranties. The largest claim over the premium cost is shown below.
1. (Car Value)/(Collision premium)
2. (Largest repair bill)/(Extended warranty cost)
The point that I'm trying to make can be summed up in one equation as shown below:
(Largest Claim = Car Value)/(Collision premium) is much greater than
(Largest Claim = Largest repair bill)/(Extended warranty cost)
for newer vehicles.
For any particular vehicle, you need to analyze the above equation very carefully. This equation is the mathematical explanation and proof of my argument.
Whether it's a Lexus or a Honda Fit, Ratio number 1 is always greater than Ratio number 2 for newer vehicles.
A Lexus extended warranty will cost more than a Honda Fit extended warranty, but a Lexus will have potentially larger repair bills than a Honda Fit. Therefore ratio 2 will stay relatively constant.
A Lexus collision premium will cost more than a Honda Fit collision premium, but a Lexus costs way more than a Honda Fit to replace. Therefore ratio 1 will stay relatively constant.
BUT, WE ARE COMPARING TWO DIFFERENT RATIOS, AND I AM STATING THAT RATIO NUMBER 1 IS MUCH GREATER than RATIO NUMBER 2 FOR NEWER VEHICLES and THEREFORE THE VALUE OF COLLISION INSURANCE IS GREATER THAN THE VALUE OF AN EXTENDED WARRANTY.
WHEN RATIO 1 BECOMES EQUAL TO RATIO 2 AS THE CAR DEPRECIATES, IT IS NO LONGER A GOOD VALUE AND JUST LIKE EXTENDED WARRANTIES, I NO LONGER NEED COVERAGE.
If a person wants to purchase an extended warranty....and...he feels that he or she is now protected for xxx amount of miles or years...and....he or she now has PEACE of MIND....then he or she is satisfied.
If a person DOES NOT WANT the extended warranty...and they feel as though nothing will happen (or if something does happen) he or she will take care of it cost wise...then so be it!!!
As to whether or not it is cost wise to get the extended warranty or not doesn't really matter as long as the purchaser (or non-purchaser) is satisfied with or without IT!!!!
I have only ever purchased one extended warranty....and that is on my 2006 Chrysler PT Cruiser LTD ... and that I purchased on-line from a Chrysler dealer for approx. $600.00. (OEM of course). It is up to the individual new car (or used car)purchaser to make up their own mind.
Cost wise or not cost wise is up to the individual and all this back and forth discussion will not solve the age old problem to this "Should I or Shouldn't I"!!
Please, can't we move on!!!!
I hope you can see the hyprocracy in your post by asking people to "get off this discussion" and then bantering on about your opinion like that's the last word on the topic.
I mean - this is a forum weighing the pros and cons of an EW.
If you really feel the anwer is simple and there's nothing more to say, then you're done.
We had to get an alternator replaced on our 4 year old Camry-out of warranty, and the part cost alone was $440. None of these electrical parts on foreign cars are cheap.
No one should be condemned for buying one of these warranties, although I would not recommend buying anything but the extended warranty from Honda, not third party companies--as was mentioned, too many exclusions.
Brad :shades:
This is a generality and a falsehood. How do you calculate that "most" repair bills will not be covered. What specifically isn't covered that you feel should be? Do you have any facts or statistics to back up your argument? Have you even read what Honda Care does cover?
You certainly didn't know the price of a Honda Care contract and you were throwing out a figure that was double the actual price.
First. let me say that Honda Care contracts vary in terms of price. It can be anywhere between $800 to $2000 on average. The dealer where I bought my Honda Fit charged me $2000 if you include the interest on it for a 7 year 80,000 mile $100 deductible extended warranty. The F&I manager was so deceptive that he did not explain the Honda Care contract and what is NOT covered by the extended warranty. One of the reasons that I'm against extended warranties is because people who sell them are not very honest. They're very tricky and often out to make money from you. I felt very tricked and deceived, three weeks after I signed for the Honda Care extended warranty, when I received the ACTUAL Honda Care contract that revealed what was truly NOT covered. It was totally not the product that I had thought I purchased when I signed the Honda Care purchase agreement. I've read the Honda Care contract from front to back, and it doesn't take a Honda mechanic to tell you that the limited parts that are COVERED are LEAST likely to break down, and the parts that are NOT COVERED are the MOST likely to break down. For example, all of the normal wear and tear items are not covered, such as brake pads, tires, head lights, and glass. The parts that fail due to normal wear and tear are generally not covered. In other words, parts that DO wear out under normal conditions are NOT covered.
Wear and tear items like tires and brake pads aren't covered by the factory warranty either, so I don't think most people would think they would be covered by an extended care contract. Those parts are designed to wear and be replaced after a period of time.
The dealer where I bought my Honda Fit charged me $2000 if you include the interest on it for a 7 year 80,000 mile $100 deductible extended warranty.
I wish you would've had a chance to post the price on this board before you purchased. I could've advised you of a better deal on that. For example, I just went to myhondawarranty.com and got a quote for a Fit warranty with the same mileage and duration that you described for only $460.
But since you have made the purchase, you should know that the Honda Care contract can be canceled during the first 60 days and you'll get a full refund. If you financed the car, they'll send the refund to your loan company to place against your loan. But it will be $2,000 less that you'll eventually have to pay. If you passed the 60 day deadline you can still get a large amount of the money back because they'll prorate it and they charge a $25 processing fee.
Since you weren't pleased with the coverage, I'd definitely recommend that you exercise that option.
Here is the section of the contract that details the term of the refund.
V. CANCELLATION OF CONTRACT
If YOU cancel this CONTRACT:
1. On or before sixty (60) days following the commencement of the CONTRACT period:
1. You may cancel this CONTRACT and receive a full purchase price refund, if no services have been rendered to or on behalf of YOU.
2. If services have already been rendered to or on behalf of YOU , the refund will be the lesser amount calculated as.
1. A time pro-ration based upon the time expired; or
2. A mileage pro-ration based upon the number of miles driven
2. After sixty (60) days following the commencement of the CONTRACT period, the refund will be the lester amount calculated as:
1. A time pro-ration based upon the time expired; or
2. A mileage pro-ration based upon the number of miles driven
ALL CANCELLATION REFUNDS AFTER SIXTY DAYS ARE SUBJECT TO A $25 PROCESSING FEE.
3. For cancellation, return this CONTRACT to YOUR DEALER, and complete a cancellation Request Form.
Good luck to you.
"First. let me say that Honda Care contracts vary in terms of price. It can be anywhere between $800 to $2000 on average. The dealer where I bought my Honda Fit charged me $2000 if you include the interest on it for a 7 year 80,000 mile $100 deductible extended warranty. The F&I manager was so deceptive that he did not explain the Honda Care contract and what is NOT covered by the extended warranty. One of the reasons that I'm against extended warranties is because people who sell them are not very honest. They're very tricky and often out to make money from you. I felt very tricked and deceived, three weeks after I signed for the Honda Care extended warranty, when I received the ACTUAL Honda Care contract that revealed what was truly NOT covered. It was totally not the product that I had thought I purchased when I signed the Honda Care purchase agreement. I've read the Honda Care contract from front to back, and it doesn't take a Honda mechanic to tell you that the limited parts that are COVERED are LEAST likely to break down, and the parts that are NOT COVERED are the MOST likely to break down. For example, all of the normal wear and tear items are not covered, such as brake pads, tires, head lights, and glass. The parts that fail due to normal wear and tear are generally not covered. In other words, parts that DO wear out under normal conditions are NOT covered.
Man, you got rooked.They got you good.You paid $2,000 for a warranty, Jet says could have been had for $460? Anyway I feel good about my purchase. Granted I was coming fom an aged non Honda vehicle that I had sunk alot of money in in the last few years before trade in. But as an advocate of cheap insurance I was happy with what I got. After negotiating a 2008 Accord to below invoice(substantially) and arguing away all crapola fee's,
At the f & I the manager tries to sell me Hondacare 8 ears/120mo at $1980. I've researched Saccucci, Hyannis and the like and countered with $940. Dammit if they didn't run a sale that weekend and I could have got it for $915 online. The manager immediately agree's and we do the deal.I am a AAA member and will not take the risk my wife has to walk down a freeway in Houston, Tx summer weather should a mishap occur. AAA costs me $55 a year for classic plus $26, spousal add on.If I put it on automatic renewal on a cc, I get $4.50 off. $55 + $26 = $81- $4.50 = $76.50 * 7 = $535.50. So for $940 - $535.50 + $24 for cancelling AAA this year =$559.50 or $380.50 I get five years past warranty of 3 yrs/36,000 miles for an additional 5 yrs and 84,000 more miles for $380.50 or $76.10 per each of the 5 years.. Should a mishap occur they will re-imburse me $35 for a rental a day up to $210 and should it occur on a trip out of town uo to $300 for lodging and food.Yes it's peace of mind but also a good deal insurance wise. As a financial professional I advise my clients to take umbrella policies and flood insurance which offer high protection for small premium.Oh btw I'm zero deductible so for $380.5 over that I would have been paying any way, I have peace of mind that no computer sensor is going to cost me alot.If the reliability of the car proves me wrong, what a small price I've paid.
If one has followed scheduled maintanece, most big repair bills come after standard warranty.
Supporters of EW say wisemoney got "rooked" into paying 2,000 for his EW. I say others are "rooked" at paying even half that. How can you even calculate where the value is when all you're really buying is peace of mind (falling prey to your fear).
Don't take my word for it, even Consumer Reports will advise you against falling for the EW. When you buy a Honda, you're buying one of the most reliable cars of made today. You've done well to choose a Honda, so why get "rooked" into buying an EW?
I'd like to know if people here pushing the EW are in the business of selling them?
I just can't believe you'd be so adamant about spreading your own fear of ownership to other Honda owners. Maybe a Chrysler product, but not a Honda.
You've been really quite adamant at labeling everyone who makes a purchase of an extended warranty as being in "fear".
It's one thing if you don't agree that the value of the service contract is worth the money being charged. That's a matter of opinion. It's quite another for you to start generalizing and name-calling.
As I've already pointed out, there is a value of the service provided to assume future risk. Not just in extended warranty contracts, but in car insurance, and commodity futures, and plenty of other examples in the financial markets. Are all people buying collision insurance doing so out of fear? How about a futures contract for wheat?
A service is offered and if buyers feel that the service is worth the price, then in a free market, a transaction occurs.
Just because you have a sociology degree, there is no need to label everyone who buys a contract as being "fearful". It would be VERY shortsighted of you if you feel that that is the only motivation of people who engage in these transactions.
so you fear paying for high coverage?
is that name calling?
lol
On the other hand, investing the cost of the extended warranty in a 3.5% HSBC savings account gives me peace of mind knowing that it's statistically unlikely that I'll have to use all of it as proven by Consumer Reports, and anything that does break down will actually be covered by cash in my savings account.
you can get a nice Plasma screen TV for the cost of an EW these days. And if they try and sell you an EW for that, make sure you opt out.
I know I don't have to convince wisemoney on that.
:shades:
If that's the case, then why haven't you gotten a refund on the extended warranty you bought for $2,000?
did they talk about the likelyhood of this happening?
I'm on my 5th Honda and I've never had the AC unit go out on me. In fact I've never had a failed AC unit on any car I've ever owned.
Why don't you take a look at the reliability data from CR to see if the AC is a problem on your rig. I'll bet you'll see it's not an issue.
I did get the refund as soon as I could, but the dealership was so greedy that they tried to delay the refund past the 60 days in order to prorate the refund. Luckily, I finally got my refund back and applied towards the principal of my loan. If it takes that long after filling out a cancellation form with the F&I manager, I can't imagine dealing with repair claims.
2001-2002 and possibly some 1999. It's long, a-steve, no way around it . I tried to include all points of view, adding to it's length.
Summation; in the real world crap doth happen.
Own Accord EX 2003 (4 cyl, auto) with 112K (km) mileage. After 100K as Dealer recommended
changed tranny liquid (at Honda dealer shop). Four months later discovered red color spots on my
garage floor- tranny dripping (still not much as tranny liquid level is OK). Do not have any problems
with tranny- smooth and responsive. Honda technician recommended to replace (not funny!)
transmission ($4.5K) as "diff bearings worn". Really appreciate any advice what I should check for.
Thanks
Hi Everyone:
Anyone encounter this before? 75k miles. I have lubed all the applicable pivot points (they're only on
either end of the clutch mechanism since it's a hydraulic clutch) and it went away for a while, but
now it is back with a vengence. More lube does not help. Very irritaing. Hope I do not need to
replace the clutch master cylinder. Any insight would be very much appreciated.
Okay...I bought my lovely little '05 EX-V6 sedan in July of '05. I now have 53k on the odometer, and
all of a sudden my AC cut out. Now, if I lived in Chicago, or Wisconsin, it wouldn't really be of any
concern, but I'm in Panama City, Florida. It's already in the upper 70s to lower 80s during the days
here, and to my avail no AC. Being as handy as I could, I went to my local auto parts store and picked
up some R-134A with a gauge. Went home to fill it up, and presto, my pressure was too high (~95).
Took it to the Honda service despite the $123 diagnostic fee just so they could tell me that I needed a
new compressor. $1550!!! This car isn't even 3 years old! A compressor?!?!?! So I call Honda of NA to
see if they'll cover the repair. I've heard before that even after your warranty has worn out they'll
still cover some items that are deemed to be defective, or just prematurely go. I called them Thurs.
and the guy on the other end of the phone takes down all of my information, asks me a few questions
about my Honda-owning history (Wife has an '07 Pilot), what the problem is, etc. He kept asking me
what they said was wrong with the compressor. I have NO CLUE! I wish I knew and I'd just fix the
damn thing myself! He tells me I'll be contacted in 1-2 business days by a "Regional Claims Manager".
In the meantime, my local dealership has agreed to leave my bill for the diagnostic open in lieu of the
decision from Honda of NA. Well the 2 days have passed, I have re-contacted customer service and
they sent the dude an e-mail, but still nothing. We hit 81 today, and my 2 year old isn't really digging
riding in Daddy's oven. Are they stonewalling me? What should I do? I know what I really want to
do, and that's send them 5 certified letters, as well as a copy of the ad for my Accord and my wife's
Pilot up for sale! Hopefully Honda will come thru on this one, otherwise I'll go on to Nissan, Toyota,
VW, or someone else!
2003 Accord transmissions are failing in many cars. You can google 2003 accord transmission and you
will find site(s) with problems. Honda had a recall in 2004 to fix something with the 2/3rd gears but
it didnt do squat. I think they knew it will fail at 70-100k mi well above warranties to protect
themselves. My car is in the dealership almost had a wreck. Trying to Honda to replace their junk.
The transmission failures seem very common. My radio also went dark but was replaced as 'goodwill'.
Its another common problem. Be safe and I recommend not driving until transmission is fixed.
Good luck
I have a 2005 Accord EX-L sedan (4 cylinder / AT). I'm starting to hear what I'd call a "metallic
sound" coming from the from end of the car when I turn left or right. The sound isn't constant when
turning; it's rapid. I don't hear the sound when travelling in a straight line, only while turning.
I don't think it's the brake pads...I've had no trouble stopping the car. Nor have I noticed a problem
with the car's handling. I don't think it's the transmission either...I don't feel any problems like a
missed gear or anything. It's just annoying because it sounds like the car is an old beater when in fact
it's only going on 3 years old come this June.
Any thoughts as to what this might be? Has anyone else experienced this?
Alright...I got my 05 Accords compressor replacement fully covered, out of warranty, by Honda.
They initially only agreed to cover the parts, but after prompting repeatedly, decided to cover the
entire $1550 bill. So, if you need to deal with them, be stern in your expectations, and don't accept
their initial offer! I swear it was just like buying a new one.
That's why I bought ext warranties for my Honda & Lexus. One repair like this will
pay for the warranty cost.
You never know when & what parts are going to fail.
Didn't he just give an example of how the extended warranty is not necessary?
I think what he is saying is that even if you never have to use it it's nice to know that it's there. Like
he said you just never know. It's better safe than sorry. Say the transmission blows out, the warranty,
at least in my case cost $1700 and change, while the tranny costs about $4000, which would more
than make up for the paltry $1700, and the warranty would cover the tranny. Money well spent in my
opinion. To each his own I guess.
Honda took the bill because his car is less than 3 yrs old even
though the mileage exceeded 36K.
Did you see how much hassles he went through to have it
repaired free of charge?
#3757 of 3944 Re: Dealing with Honda... [chucko3] by elroy5 Apr 09, 2008 (5:27 pm) Save | Reply
Replying to: chucko3 (Apr 09, 2008 4:49 pm)
I guess each person's experience with extended warranties is different. I made the mistake of paying
$600 for a 7 year/100k mile extended warranty on my last car. That $600 payed for 1 $5.00 knob, so I
actually wasted $595. Needless to say, I didn't buy an extended warranty for my current car. The head
unit display circuit board went out at 49k miles, well after
36k mile warranty had run out. Since
the circuit board was a known defect, Honda extended the warranty on it to 7 years/100k miles. No
charge. I think I'm saving myself some $$$ this time.
I think Consumer Reports said it best. "The only reason you should feel the need to buy an extended
warranty, is if you know the car you're buying is a " Why would you do that?
Aspesisteve, are you elroy 5 ? The CR clued me in.
I am back, ONE YEAR LATER, to warn others.... My original post was from exactly a year ago....
Finally, after many delays I went to the dealer with this complaint about a "chirping" sound that was
coming from the left side (Serpentine belt side) of the engine when in idle....
They kept the car for inspections, and after an hour called me and told me that since they need to
keep the car, and don't have a loaner, I need to rent a car (under warranty)....
I asked why can't I come back in a couple days when they do have a loaner. The answer was "no, we
don't want you to drive this car".... Turns out the Timing Belt tensioner was loose and was rubbing
against the belt itself.... This has been going on for OVER A YEAR now.... It could have caused the
belt to SNAP and RUIN THE ENGINE.....
So, any chirping sound, coming and going in a slow interval, like a bird was chirping...
prrrr...prrrr...prrrr... ---- Don't wait, bring it to the dealer.....
sidenote: he paid for the loaner.
It seems your Accord was cranking but would not start (turnover). If that's the case could be igniter
or something in the distributor, or some type of relay. I have a new 2007 Accord 4cyl. Seems my car
sometimes will not crank or start(turnover), however on the second turn of the key (without pulling
out the key), it will start. This happens very seldom, Im not really concerned at this point since it has
always started on the second turn of the key. Anyone knows what is causing this problem? I tried
changing to my second set of keys, the problems is still happening.. I think it's a bad starter or bad
relay.
Hi,
I own a 2005 V6 Accord Coupe with 45,000 miles. It has been an incredible car and I have had no
problems with it, until the other day. I tried to start it and all the engine would do was turn over, but
would not start. I have had this problem with an Acura TL, and it was the computer key. I just waited
and re-inserted the key and the car started. The Accord wouldn't start after doing this. I had the car
towed to the local Honda dealer and after I got it there, it started up without a problem!
Yesterday, I noticed a man with a new Honda CRV and his car was doing the exact same thing! My
car hasn't done this since that one time. The Honda people didn't seem to know what was causing this
problem either.
Has anyone here had this problem with any of their Hondas or Acuras?
Thanks
I just purchased a 2004 Accord EX-L with a Navi system. I had it for about a week when the Navi
system started to act up. Intially it started by taking a long time (2-3 mins) to engage and within a
few days later the system rebooted. After I enter the unlock code the system would work for a day or
two and it rebooted again. I brought the car back to the dealer and they found the battery to be bad.
They replaced the battery and the Navi system continues to reboot. Now the dealer tells me the head
unit is bad and its going to cost 3K to replace.
The car is out of warranty and the dealer does not want to offer any goodwill.
Has anyone experience the same problem with their navi system?
Any suggestions/advice?
Well I don't have to imagine what it's like dealing with repair claims with Honda Care because I've done it and it's the easiest thing to do. Once you have a Honda Care, they display your VIN number in the nationwide database that shows you have the coverage. So no matter what dealership you go to for service, they immediately know.
Furthermore, the repair shop has every incentive, to make sure that I get all warranty repairs that I need, because they get paid by Honda Care for all of their charges. They have NO incentive not to get you your repairs. They make money on every legitimate repair.
I don't even sign any additional paperwork or have to file any claims. The dealership does it all.
You're under the misguided impression that somebody is there thinking up excuses as to why they can't pay. It works exactly the opposite of that. They scour my car to make sure that I have every repair I need. Top notch service.
Available coverage for your 2008 Honda Civic Hybrid with 6 miles.
Coverage Level $0 Deductible $100 Deductible
5 years/60000 miles $380.00 Not Available
5 years/80000 miles $570.00 $470.00
5 years/100000 miles $660.00 $560.00
6 years/80000 miles $590.00 $490.00
6 years/100000 miles $725.00 $625.00
6 years/120000 miles $835.00 $735.00
7 years/80000 miles $615.00 $515.00
7 years/100000 miles $800.00 $700.00
7 years/120000 miles $915.00 $815.00
8 years/100000 miles $885.00 $985.00
8 years/120000 miles $1,000.00 $900.00
This happened in late March. See post 2269 for more information.
The only way I know for Californians to get around this, is if they have a second home in another state, they can order the warranty there, and once you own the warranty, Honda will honor it at any dealership.
I consider 'peace of mind' to be of little value when you're handing your power over to someone else. I don't want anyone else to decide how my car gets fixed, when, where, or with what parts. With a manufacturer-backed contract, there is less worry that shortcuts will be taken, but there is still that chance. That does not give me peace of mind, it gives me a headache.
the salesmen aren't upset that you want to cancel because they are looking out for you, rather it's their commission they are looking out for.
In this economic time of below invoice deals, I would bet that there is more commision made on the warranty than many of the car deals out there.
please spare us all the two foot long posts about someone's car breaking down.
it's just spreading unneccessary fear to those who own some of the most reliable cars ever made.
if Honda isn't willing to let you shop the internet for a competitive bid, you are just asking to be taken to the cleaners.
are you really going to read the fine print before signing away? This shutting down the internet sale of the warranty is a blantant attempt to avoid competition which can only result in higher prices.
Imagine if Honda dealers said you can only purchase a Honda from the closest dealer to your zip code :surprise:
1) Your age ?
2) your length of ownership of your 5 Honda vehicles ?
3) have any or all been leases?
Lmao at your fear, just agree to personally imdemnify me via written contract and I'll gladly cancel my contract and get back 119/120 premium and be a happy camper. They took the risk, why shouldn't you? But I agree with your retail purchase at retail std prices of EW comment that it is a bad deal.Oh btw I doubt that the saleman gets a piece of EW, salesman please correct me if I'm wrong but the " sale" occurs after the salesman stage, ie f&i. I believe this goes to the p&l of the dealership.
With a manufacturer-backed contract, there is less worry that shortcuts will be taken, but there is still that chance. That does not give me peace of mind, it gives me a headache.
Well you may get a headache from your concern about shortcuts being taken on your repairs. But it sounds like your experience comes from observing how things go at a GM repair shop and not a Honda one. As this forum is called, "Honda Extended Warranties Pricing and Info", I would still maintain that I have had nothing but great service from Honda dealerships when they fix items on my cars using Honda Care.
It would make sense that GM repair shops might have a different commitment to honoring their extended care contracts than Honda does. After all, GM lost $3 BILLION in just 3 months. (Jan-Mar 2008). Perhaps, if they offered better quality products and service they wouldn't be losing catastrophic amounts of money.
You may be entirely right in your observations at your place of work. But it doesn't sound like you get to observe any Honda Care claims there, which is what I have and what many people who post here also say they have.
Granted they never have mechanical issues, many never leave standard warranty. Any way, given my states sales tax 6.25% ( what's yours ?), the ancillary fee's are making my discounted ew price seem trivial. Non incorporated lease buyers how to you explain your rationale? On a non related side note my home insurance really sucks. Been paying that bad boy 22 years and my home hasn't burned down once. I'd have been better off paying into an HSBC savings account at 3.5 %. Prior to paying my mortgage off I tried to sell that idea to my mortgage company but for some odd reason they balked.Also not having an accident for over 25 years, why should I continue to pay the high fee's ? This is based on the 5 vehicles I've owned in my lifetime. Do you think CR would po too many people if the came out against the idiocy of leasing?
Only med long a-steve.
Our shop's labor rate is $53.00 per hour. We generally go by a Motors labor time guide. We're a small store in the middle of an agricultural state. A nearby dealership keeps their rate low, so we do, too. Other shops in the area are around $75 per hour.
I've read many service contracts. Every one has a line to the effect of 'may use salvaged or aftermarket parts at our descretion'. This is usually not a problem with manufacturer-backed plans (as I already stated), but it is in the contract, and it is representative of a decision that I want to make about my own car rather than a decision I want someone else to make about my car.
If I wreck my car, I am happy to pay an insurance company to take care of me. The costs involved with vehicle accidents are high enough to merit paying someone to assume the risk. In regards to getting my car fixed for mechanical issues-I want to know what's being done, why, how, and where. A service contract hands all of those decisions over to an adjuster.
For the record, we don't take shortcuts working on people's cars. If a customer requests a shortcut (as in: do it the cheapest way possible), we note it on the bill and the customer signs off on it. GMPP claims are treated as if they were warranty claims. I don't believe Honda Care claims are shortcutted, either, but I have dealt with the company that administers Toyota's service contract claims (they sell the same contract to other folks, under a different name), and they usually want to send us 'parts from our warehouse', which are generally junk.
what business is it of yours what my age is?
I have never leased a Honda before.
My first Honda was a 1979 Accord. Purchased new for $6,100. I owned that car for 9 years and the only thing I had to replace was tires, a water pump ($60 part I installed myself) and the battery - which is not covered by an EW. The car did have carburator problems after 100k miles. I don't know what an EW would have cost back then, but I'm sure it was more than $60.
My 2nd Honda was a 1988 Accord. My wife purchased a new Accord in 1992.
We had an Odyssey in 2002 and now have a Pilot. No major repairs - in fact there were no repairs other than those covered under the factory warranty or recall than I've experienced.
Like I said - an EW would not of paid off for me.
Perhaps it gives comfort to those who worry and fear the catastrophic breakdown, but not me.
Tell us how many Honda's you've owned?
Maybe you can learn something from someone with a little more experience in life?
Give it up bub.
The fact that you can't believe that the majority of Honda's don't experience a catastophic break down says you don't even understand the business of selling warranties. That you don't understand that Honda makes a reliable product
You do know they make a profit off the EW...don't you?
It's simple math - the majority of these EW provide nothing more than security.
I understand that some people do use them. But for some reason you can't understand that I have not in my lifetime needed an EW??
"give it up bub" lol