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Comments
We often learn this stuff the hard way
My daughter purchased an extended warranty for her first new car, then when she decided to sell the car later found out the warranty was pro-rated back to the time she purchased the warranty. It was not HC, but similar captive car warranty. That was when we figured out that for the little benefit you get for buying up front for most folks it is better to keep your money in the bank until you have to buy the coverage.
Dennis
We just bought a new Odyssey EX-L with the Navigation and DVD options. The dealer is offering a 7yr/75K warranty for $1,340. I don't see us going over 75K miles in 7 years.
With all the electronics on board, I am wondering if I should get the extended warranty. Even one single problem with any of these electronic components and the warranty might just pay for itself, and more. Any thoughts/suggestions?
Of course, I can wait for a year, or two or three, before I get the warranty. Anyone think that the better option might be to just wait till then? Thanks!
Honda is gambling that for your money they will have to spend less on your car then they take it. And I guess they are right, or they would raise the prices or quit offering the warranty. In your case, it would just take a repair or two to pay for the warranty cost.
If you decide to sell your van you can use the warranty as a bargaining tool - to enhance its value. If you trade it or it is stolen or totalled you can get a pro-rated refund.
To me, I would get it - but wait for 23 months and 29 days or 23,999 miles to buy.
I also would not get it from your dealer unless they drop the price. College Hill Honda is showing $1,150 for the $0/7/100k warranty for your van. Curry Honda care is showing $920 for the $0/7/75k and $1,225 for the $0/7/100k coverage.
Dennis
Price is the same for all trim levels- LX, EX, EX-L etc.
Price is different for different models, so it is going to be different for Odyssey,
however $1340 seems to be dealer price (trying to make more profit).
You should be able to buy it under $1000.
I will post more info about the web site I bought it from tomorrow.
Dennis: I am leaning towards that as well; waiting till the current warranty expires before getting it.
byzy: I would still like to get that information. I'll look for your post tomorrow.
Thanks again.
Me too. I got my S2000 warranty (right before 24 months) from Balise Honda - a deal I found through the S2000 forum. I will likely purchase the $0/7/100k for my wife's new Accord at about the same mark - and would like to file away any place with a good price.
Keep in mind that prices DO change. For example all the warranties went up a little between the time I got my car and got the warranty (the risk you run waiting). Now the price of the same warranty TODAY is a good bit higher. I guess they have been paying more for S2000 claims than they thought they would back then? I would guess on something like an Accord the chances would be small to have that much of an increase.
Dennis
Website www.hondawarrantyinfo.com
Contact info:
Tom Spizuoco
tom@hondawarrantyinfo.com
1-508-651-3033
Bernardi Honda
Natick, MA
I don't want discuss how smart is to get or not to get honda extended warranty, I think it is everybody's own preference.
Here is my experience with honda vehicules:
Bought new 1997 Civic LX, sold it three weeks ago with 83k miles. No Extended Warranty.
Check engine came twice over this time. First time ~40k, second time ~75k. I paid ~$400 total for both repairs. I saved money not buying extended warranty on this car.
Bought new 1999 Accord LX, it has 60k miles at this time. No extended warranty.
Power door failed 2 weeks before regular warranty expiration. Repaired free of cost.
Gas tank pressure sensor failed at ~40k. Paid ~$200 to replace.
So far I saved money not buying extended warranty on this one too.
Bought 2005 Pilot EX-L 3 weeks ago. Just bought 7yrs/75k/$0 over internet.
Somebody may ask why I bought Honda Extended Warranty for this one.
Two reasons: first buying it over internet you can get much better price for it. I paid $870 for ~$32k 2005 Honda Pilot. When I was buing my ~$14k Civic dealer was offering similar coverage for ~$1000 eight years ago.
Second, this suv alone has more components on the board then my other 2 honda cars together. Just couple examples on what extra stuff this car has compering to my previous 2 cars: 4 wheel drive, ABS brakes, Vehicule Stability Control, Climat Control, Sunroof, Tire Pressure Monitoring System, 6CD Changer etc. As a tool engineer I can say that, more components you load into a machine, more likely something breaks over time.
One more suggestion. If you are going to keep your car for long time and you know how many miles on average you you drive a year you can buy it now, so you get extra road assistance for first 3years/36k miles.
If you not sure, you can buy it later, when you have better idea which coverage will suit you better. You can purchase this warranty as long as your car is still under original warranty. According to Tom Spizuoco, coverage is the same as original warranty. In simple terms it is bumper to bumper except all items listed as wear and tear. Good luck with your warranty.
Not really, LOTS of exclusions. Actually, this is what is covered:
Comprehensive Component Coverage
Drivetrain
Engine, Transmission, Fuel-Injection System and Axles
Electronics
Computers, Electronic Components and Electrical System
Chassis
Suspension, Steering and Brake System
Heating/Cooling
Air Conditioning, Heating System and Cooling System
Genuine Honda Accessories
Audio, Cellular Phone, Navigational and Security Systems
So stuff like trim, exhaust, etc are not covered. Here is a list:
. WHAT IS NOT COVERED by Honda Care
Parts other than genuine HONDA or AMERICAN HONDA authorized parts; wiper blades; battery (except for the nickelmetal hydride battery in hybrid VEHICLES); cables; steering wheel; belts; radiator hoses; heater hoses and vacuum hoses; spark plugs; plug wires; distributor cap and rotor; timing belt replacement when performed as routine maintenance: exhaust system, head pipes, tail pipes, catalytic converter; mufflers; hangars; heat shields; gaskets (except for the manifold block gaskets and related fastening hardware); fuel system; fuel tank straps; fuel hoses; brake system wear items such as drums/rotors, shoes/pads; clutch disc, clutch pressure plate; throw out bearing, external shift linkages; pilot bearing/bushing; glass, mirror glass, body structure (except for hood hinges, trunk hinges, door hinges and sliding door rollers), hood fenders, doors, rear hatch, trunk lid, grille, panels; bright metal; sheet metal; paint (except for covered hinges painted to match the original VEHICLE color only); bumpers; moldings; lenses; bezels; bulbs (except for instrument panel illumination bulbs); Hi Intensity Discharge (HID.) headlamps; sealed beams; fuses; body seals; weather-strips (except for window sash and window run channels); outside ornamentation; emblems; tires; valve stems; wheels; wheel covers/ornaments; rims; trim rings; caps; wheel studs; lug nuts; wheel locks; fastening/securing hardware for non-covered components; stripped or cross threaded fasteners (e.g., nuts, bolts, studs, screws, etc.); body seals; squeaks, rattles; buttons; carpet; dash pad; console; window handles; knobs; boots; pedals; pads; rearview mirror (except for electronic failure of the auto-dimming mirror); interior trim; upholstery; floor mats; electronic/audio accessories and cellular telephones other than AMERICAN HONDA AUTHORIZED ELECTRONIC/AUDIO ACCESSORIES/NAVIGATIONAL, DVD ENTERTAINMENT AND SECURITY SYSTEMS; Safety Restraint System fastening hardware; seat belts and airbag(s) deployed due to collision. If YOU believe there is a defect in these parts, please contact YOUR DEALER immediately.
So while it does cover a lot of stuff, it is not as good as the bumper to bumper original warranty. For example, the parking brake boot on my S2000 has become detached. The lever itself IS covered under HondaCare, but the boot is not. The boot only comes with a new (and expensive) lever - so I have not fixed it The dealer said if the lever broke he could replace it and the boot free under warranty...
Dennis
7 years/75,000 miles warranty: ($50 deductible = $635.00) OR ($0 deductible = $695.00)
7 years/100,000 miles warranty: ($50 deductible = $810.00) OR ($0 deductible = $870.00)
Which is $50 cheaper than the best online quote (curryhondacare.com) that I have seen.
Dennis
www.hondawarrantyinfo.com
7 years/75,000 miles warranty: ($50 deductible = $845.00) OR ($0 deductible = $890.00)
If you want the 100k plan you will have to get your own quote.
If you read the other recent messages you will see that you have until your new car is 24 months old or has 24k miles on it to buy the warranty without paying an extra fee (currently $60). So there is no rush to buy.
Congrats on the new S! I have a new formula red 2001 and I LOVE MINE. I purchased the HondaCare $0/7/75 warranty for mine right at the 24/24k point. At that time it was about $800.
Dennis
Thanks for the info. I just priced a 5yr/60k warranty from hondawarrantyinfo.com for $600! That's much lower than the dealers 'sale price' of $1500 (original cost of $2400). Do you recommend that I get the warranty now or right before the original warranty will expire?
Jim
Unless the price goes up (and who knows when that might happen?) it will cost you the same price 23 months and 29 days from the date you purchase your car as it will right now. If you wait past that date, but before 3/36k it is only $60 more.
If your car is totalled, stolen, or you trade it in you can cancel the warranty for a pro-rated refund. The pro-rate is based on the months and miles you have used since you purchased it. So buying late = larger refund.
The argument in favor of getting now is that you are protected from price increases and you get the car rental and roadside stuff NOW if you buy now.
Dennis
Dennis
Thanks,
We traded in the Pilot on March 30 to a non-Honda dealer. We had the extended warranty on the vehicle however. Who would I call to cancel the warranty, granted I can still cancel without the vehicle? Would I have to buy an extended warrantly for the S2000 if I get a refund? Thanks. Jim
You do not need to get the S2000 warranty now to get a refund, they will just mail you a check for the amount due back to you.
Like I said, as soon as you trader the Pilot your HondaCare warranty became invalid - since it can't be transferred through a dealer. So there is no reason they would not give your money back. You could get it back even if you sold it to someone yourself, as long as you did not sign a transfer letter to the new owner.
Dennis
I will definately buy one again for my next new Honda!
I believe extended warranties are generally a real bad investment. Your typically covered for the first 3 years 36K from the factory. Why would you plunk down $1000- 1500 for a warranty that doesn't begin to take effect on a new vehicle until the 3/36 warranty expires?? If you have a real problematic vehicle under for the first 3 years of ownership I'd be all over the dealer and car manufacturer for this.
Lets also not forget that in this case your 7 yrs/75K warranty your buying is really a 4 yrs/39K warranty, pretty $$$$ I think. Remember I bet you considered your Honda because of there long reputation for reliability. That is certainly one of the reasons why I purchased another Honda myself.
My concerns stem from the fact that I have a DVD player, Navigation system, 6-Disc etc. Lots of electronics and so many remote operated features. While I am not so concerned about the engine having problems in the first 7 years, I am not so sure about all the electronics. The $1000 might be worth it for 4 years, 39K if any one of these breaks in that period.
In any case, it might make more sense to get this extended warranty at the end of the first 3 years.
I think there is no sense discussing the pros and cons, since some folks will not be interested in purchasing a plan and others are. The roadside and rental car plus the warranty gives peace of mind - knowing you will have to pay out nothing for repairs. Some folks like that. Hondas are reliable, but every Honda dealership has a service department and I know they do more than just change oil. Car parts and service work are quite expensive, so it would not take but one or two claims to pay the cost of the warranty. And has been mentioned, when you sell your car you can market it with the extended warranty - which should make your car easier to sell and command a higher price. When Hondas cost no more than $15k then selling a used one with no warranty it was a pretty cheap car. A Pilot after 3 years will probably be worth close to $20k and a lot of folks will shy away from paying $20k for something with no warranty. If you don't sell until 42/42k then they can't buy a warranty for it from Honda. Have a 7yr/100k warranty on your Pilot and it would be much easier for folks to invest $20k in. Trade the car? Then get a refund for the un-used portion.
This forum is for pricing and info, not really to try push the "warranties are stupid" point of view. To me, purchased at the right time for the right price - I think it might be worth the price. I can make sure that folks understand the terms of the warranty and that $1340 is a TERRIBLE price and then let them make up their own minds.
Dennis
Dennis
The policy said I have 60 days to cancel so I called to cancel. She said once you cancel, you can never buy it again for the same car. I called American Honda to confirm. AH was baffled that the dealership would tell me this. AH told me to have the dealership call them at the time I sign my cancellation contract. I called the dealership to set up an appointment and she told me she would fax me a form to fill and that I could either drop it by or mail it back along w/ the Honda Care back. She again told me that her assistant called AH and they told him that I could not buy another policy for the same car and if I thought I paid too much and want to cancel, there's nothing that she could stop me. :sick: I honestly do not trust the people that work here. Once I send the forms back, do I check with American Honda to make sure it has been cancelled?
The service at this dealership stinks. The sales people I work at were terrible. Avoid it at all cost.... Try Fisher Honda in Boulder.
However, thanks to this site. I read how others were in my same position, with an over priced warranty they thought they were stuck with. So on 5/2 I called Honda Care and asked if I can cancel the warranty I paid too much for and purchase another Honda Care warranty. They told me this happens all the time and yes I can cancel and purchase another Honda Care warranty at a later date for the same vehicle.
So on 5/2 I went to the dealer where I purchased the warranty and filled out the necessary form to cancel it. I will wait a few days and then call Honda Care to see if the cancellation went through. Once it's officially cancelled I will then shop the net to purchase another warranty. I will post update her after I purchase another warranty.........Power to the People!
Too often we negotiate a good deal on the purchase, then lose some money back on the finance office They know you are spending big bucks on a new car, so offering the extended warranty seems like something you need to have and the price seems small in relation to the price of the car.
With a GM protection plan the cheapest day to buy it is the same day as you buy the car (but it does not have to be from the same dealer), but with most of the others including Honda you can do it later. With a Honda it is up to 24 months or 24k before the price goes up.
If you financed your car and the warranty, make sure you payment and loan payoff amount go down as they should once the policy is cancelled. Anytime the warranty is financed, the refund will go to the bank - so the loan amount will then be adjusted. If you paid cash or charged it, then the refund will come back to you.
As you mentioned, just keep calling the HondaCare toll free number (posted in this forum) until they say the warranty cancellation was processed.
Then you have until 24/24k to find the best price for the warranty, all know cheap places are also posted here - but it you come up with a better price be sure to post it.
Dennis
I did all this research into Honda Extended Care Warranties and was set to purchase one. Our financial officer asked us a few questions and actually steered us in a different direction.
Since our closest dealer is over an hour away, she suggested API coverage. I looked over the brochure and it appears to cover a little bit more than the Honda policy. Also, it looks like you can get your premium back if you don't use it by the end of the term. But the biggest kicker is that it doesn't have to be used at the Honda dealership! This alone could save us mucho deneri in travel costs and time.
Anyway, has anyone had experience with this company?
The 7/100/0 policy was 1254.00; a little higher than I can get the Honda policy for. Any thoughts on the price?
Thanks.
I am assuming the API Exended Warranty is a third party. It seems high and I personally would not buy a third party.
You will also likely have trouble getting places to accept a 3rd party warranty coverage. They don't know if they will get their money back or not, so you will end up paying for the repairs then trying to get your money back from the warranty company. Besides, with the complex nature of modern cars the local repair shop is probably not equipped to deal with a lot of the problems you can have.
If you check the prices at the online places posted here, you can get "real" HondaCare for less than this warrantee costs you.
Dennis
My question now is this...we purchased the extended warranty which I now find out is from Fidelity Warranty Services, Inc (CAREFREE CAR PROTECTION). This warranty includes 5 yrs/75,000/$100 deductible (not as good as Honda Care as I now see) and oil changes/tire rotation (sounds like Honda Sentinel) for a grand total of $2000. The original price as $2500 but I just couldn't see paying that. Now I'm kicking myself for paying what we did. Looks like I paid $1432 for the warranty and $568.00 for oil changes and tire rotation.
I can cancel the contract by taking it back to the dealer and I'm seriously considering it. One thing mentioned here concerns me....does the Honda Care use "new" parts to fix problems? Seems that I read something here about them using refurbished parts, etc.
Anyone have thoughts....???
Thanks in advance
Don't worry about the issue of new parts vs. refurbished. It's a non-issue.
Dennis
Thanks in advance!
One is a warranty... and the other is a maintenance program.. Both are called "Hondacare".
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http://www.collegehillshonda.com/hondacare/contract_coverage.htm
and see secion II - coverage.
Dennis
Thanks to everyone for the education that I've received from reading this board. You have provided some great information that saved serious headaches!
Anyway, the computer generated info had SENTINEL checked. I saw there was NEW, USED, and CERTIFIED as well not checked. So I asked what it was. He said it was better. He said I could check NEW as well if I wanted and I did.
BUT here I am home after he lied to me and wonder just what is SENTINEL. I see on Curry and College Hills....that it looks like it is only oil change, tires, and possible an extra 6000 coverage on the 3/36.
So without knowing for sure.....what did I buy? :LOL!!!! Thanks for the help.
Sentinel is just free oil changes and tire road hazard coverage and is detailed here:
http://www.hondafinancialservices.com/planning/sentinel.asp
As you can see it is just for the first 2/24k up to 3/45k so it does not run as long as (we hope) your HondaCare will. I am sure the free oil will be at the Honda recommended 10k interval, so you can see you only get a handful of them "free" in any case.
Dennis
You do have 30 days or more to cancel and get a full refund, so no huge rush. You could keep calling the HondaCare customer assistance hotline (I posted it in this forum the other day) until they get your contract and enter it into their system. Then they could tell you exactly what you have - since how it is in the computer is how the dealer will treat it. If it is not what you want, cancel for a full refund.
Dennis
Has anyone ever used the Extended Warranty for the 05' Ody?
Note that you can wait until your truck is just under 24 months or 24,000 mile to purchase for this same price - so no rush to get into a warranty. Just don't forget, the current fee is $60 is you wait past 24/24k and $160 if you wait past 36/36k. Past 42/42k you can't purchase the plan.
Dennis
Now, I'm sure you can find plenty of 199-2002 model year owners who have used their HondaCare extended warranty. If you can formulate a specific question to them, I'm sure you'd get some replies, especially if you post your question in the appropriate forum (pricing forum isn't).