I just bought a new honda accord. The dealer offered 5-year extended warranty(bumper to bumper). I am paying $1460 for it. If nothing goes wrong in 5 years, i will get my money back. Should I take it or cancel the service?
2007-12-27 16:09:43 · 5 answers · asked by Kitty M 1 in Cars & Transportation ➔ Car Makes ➔ Honda
I wouldn't spend $1460 for an extended warranty on a Honda. The basic Honda warranty is 3 years/36,000 miles and will cover any manufacturing defects. A warranty doesn't cover routine maintenance like oil changes, replacing worn out brakes and tires, etc. Besides, Hondas are among the most trouble free cars on the road. I'm also a little suspicious of extended warranties in general. I hear too many stories about people going back to the dealer to have something fixed under their extended warranty and the problem (for whatever reason) isn't covered. If it's a third party warranty from an outfit like "Acme Extended Care" and not from Honda, then it's essentially worthless. They'll find some reason to weasel out of the coverage. For the most part, EWs are just profit centers for dealers.
On the other hand if you were buying a GM or Chrysler product, an extended warranty might be worthwhile.
2007-12-27 16:55:08 · answer #1 · answered by Bald Eagle 5 · 2⤊ 0⤋
I made the decision after much time and effort that it wasn't worth it to me. If however you understand the conditions of the extended warranty well and like them, the warranty is backed by Honda (not an independent company), the warranty provides you with peace of mind, and you feel that money that you spend now could easily save you from a warranty covered bill that you cannot afford in the future, then I suppose you should buy.
My reasons for not buying are:
1. Hondas are reliable.
2. The extended warranty doesn't kick in for about 3 years anyway.
3. I am short on money after paying over $17,000 for a Civic.
4. I don't understand the terms of the extended warranty and think I might not be permitted to make good use of it, even if I need it.
And if you can get your money back if you don't use the extended warranty, well maybe there are issues about that:
1. If you sell the car, they might require you to transfer the extended warranty without ever getting anything refunded for it.
2. You lose interest on that money for many years before getting it back.
3. You might need to remember to get it back and it might take much paperwork to collect on it and there might be one or more other issues that could hinder or prevent you from getting it back.
Oh, another thing: It's not as good coverage if you don't go to a Honda dealer. And if you don't like the work you get from that dealer, you could be in a bind.
I would say it's probably not worth it for most drivers. Great question!
2007-12-28 05:58:53 · answer #2 · answered by Robert B 5 · 0⤊ 0⤋
I've never heard of anyone getting their money back, are you sure? It's always a good idea to get the extended warranty. There's always a chance something might go wrong, even with a Honda.
2007-12-28 00:22:11 · answer #3 · answered by hilary duff 3 · 1⤊ 1⤋
This is a Honda we are talking about. I wouldnt suggest getting the service. These cars are reliable if you take care of them. I would know.
1986 Accord 502k miles (original everything no probs, besides new motor @ 467k)
1998 Accord 188K miles all original no probs
2003 Honda Civic 89k all orginal no probs
2007-12-28 04:08:32 · answer #4 · answered by Jim M 3 · 0⤊ 0⤋
Go with it. It's a Honda. The most reliable, quality conscious car company out there. Take the 5-year service. You won't have any problems. You'll get your money back, don't worry.
2007-12-28 07:41:23 · answer #5 · answered by Mooky 4 · 1⤊ 0⤋