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Did you get an extended warranty on your truck

  • Yes I did

    Votes: 52 47.3%
  • No I did not

    Votes: 36 32.7%
  • I did not , did not think I needed it

    Votes: 22 20.0%

  • Total voters
    110
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Just take the time to shop around for the best deal, don’t do it while you are sitting down with the “after the sale” finance guy. This “sit” with the finance manager is when the real selling begins. Make no mistake, this “sit” with finance is the slaughterhouse of the deal, don’t be the lamb. Don’t let the I’m getting a new truck, what the heck, why not get it all feeling get in the way of a sound decision. The way to accomplish this is to know what you are going to do before even going to the dealership.
Genuine Honda extended warranties can be found at a deep discount so shop around and save a thousand or more bucks for yourself.

There are lots of post right here on THIS SITE, that will give you the info to save money on an extended warranty. Use the search function and educate yourself BEFORE making the buying decision, before the sale excitement gets in the way of good judgement.

It’s your money, don’t give it away.
 

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I did not and will not. I would rather put the cost of the insurance aside and then add a little to it. In the end, I either spend it on repairs or a long weekend with my wife.

We kept our Saab for 200k Miles, our Pathfinder for 202 k miles, our CRV for 221k Miles, our BMW for 121k miles. An extended warranty would not have helped with any of them when considering all costs, multiple extended warranties and total mileage. We did get the warranty with my wife’s Subaru WRX and broke even within $30.
 

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19 Black edition here, I got them to drop the price 30 percent and went with the standard 7/100k HondaCare. I'm sure I could've gotten them down lower but they already had been good with acquiring something that wasn't readily available for 150 miles and beating an already good price.

This is my first new vehicle and while I'm sure there's a decent chance it may never pay itself off, as others have said peace of mind has a subjectively strong value in this decision process.
 

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Just bought a certified preowned rtl-e. Even after politely stating I was not going to buy any extended warranty or maintenance contract, I had to say no at least another 10 times while the business manager pitched it from every possible angle. He eventually offered me 50% off on the plan (I still declined). I bet that guys sells a lot of those and at a huge profit margin apparently.

Of course, other dealers might offer something more reasonable. For me, I can afford the risk of an unexpected expensive repair.

The peace of mind and lower risk im sure have a lot of value to some.
 

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Discussion Starter #25
ok, thank you all for your input. I figure when I'm ready to buy, ill find a low mileage truck still under warranty. That way i can make sure all is well before the warranty wears out., I have bought extended warranties before and not needed them. I guess my question was more to how many problems may arise with long term ownership. We had a MercurayVillager minivan with the Nissan engine that was a champ and it had 230,000 on it when we sold it, no extended warranty. We bought a Mazda Tribute SUV with extended warren and had about 230,000 on it with no issues either.
So I would probably buy the truck without an extended warranty. We always have an emergency fund for major repairs anyway.
 

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I bought the 10yr/100K warranty when I bought the RTL-E new and it was $2100. In my experience, the old school bare-bones - no screen Honda stereos die after about 8 years and I didn't want to pay for whatever this new-fangled GPS Navigation stereo would cost. In addition, with all the RTL-E bells & whistles + AWD, I could imagine it getting expensive to fix.

I know Insurance companies have this all figured out with real data, but for me it was worth it for peace of mind.
 

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I'm interested in who to contact for the best OEM warranty deals. I don't need the high mileage portion but would like the years.
 

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I'm interested in who to contact for the best OEM warranty deals. I don't need the high mileage portion but would like the years.
Hyannis, Saccucci, or College Hills, etc.
 

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I have not bought my Ridgeline yet, Ill get a certified preowned with original warranty still left on it. I, just thought I will get an extended warranty and wondering how many of you did or did not?
First Off, I wouldn't buy a 2nd Gen, they are obviously garbage, as proven here on this website...
Secondly, Extended Warranties have always been known as a ripoff...
That said, if you can't find a nice 1st Gen, DEFINITELY buy the extended warranty, and a second vehicle to get you around while your truck is in the shop...
 

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First Off, I wouldn't buy a 2nd Gen, they are obviously garbage, as proven here on this website...
Secondly, Extended Warranties have always been known as a ripoff...
That said, if you can't find a nice 1st Gen, DEFINITELY buy the extended warranty, and a second vehicle to get you around while your truck is in the shop...
Wow, every vehicle has its quirks, on here you will hear all about the issues, overall the ridgeline has very few issues. 2006-2008 and 2017 are the only years with significant issues.

 

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I have not bought my Ridgeline yet, Ill get a certified preowned with original warranty still left on it. I, just thought I will get an extended warranty and wondering how many of you did or did not?
Because of all of the electronics, I have always purchased the extended warranty on all Three of my Ridgelines, starting in 2007
 

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Has anyone purchased or got an extended warranty? My lease is up and I want to keep her but not without an extended warranty...how much? You can negotiate it correct?
 

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I think there should a poll for “Have you had an issue with your Ridgeline that would have or did benefit from having extended warranty?” To me these results would influence my decision much more than those who did or did not buy the extended warranty do to foresight or wasteful spending. I always recommend people not buy extended warranties as statistics show more than half of those purchased are never used. It would however be interesting to see the results of those who have needed or used an extended warranty for repairs.
So what you're saying is, "I'm a betting man, so I'll take my chances that nothing major will go wrong- perhaps less than 50% of the time." That other % could be a real bear, money wise! Today's vehicles are so damn sophisticated that if I plan on keeping my vehicle more than the warranty period (3 years), I will go for the extended warranty. But, hey, that's just my opinion...
 

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2019 Honda Ridgeline Black Edition
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So what you're saying is, "I'm a betting man, so I'll take my chances that nothing major will go wrong- perhaps less than 50% of the time." That other % could be a real bear, money wise! Today's vehicles are so damn sophisticated that if I plan on keeping my vehicle more than the warranty period (3 years), I will go for the extended warranty. But, hey, that's just my opinion...
I mean yeah if you want to call it a gamble then sure. That’s really what any warranty is when it boils down. A consumer would be naive not to look at the statistics showing the overall reliability of something before deciding if their odds are in favor of a warranty. Otherwise you’re basically saying, yeah I’d like to donate an additional sum of money to your dealership for no extra gain. If you bought a solid steel anvil for $300 with a 98.953% reliability rating would you spend an extra $13.95 to assure yourself that if by some chance, hell freezes over and your anvil breaks you will have a warranty that may or may not cover the very specific instance in which your anvil broke. Consumer Reports surveyed 8,000 of its readers about warranties and discovered that 65% of them spent significantly more for the new car warranty than they got back in repair savings (https://www.daveramsey.com/blog/just-say-no-to-extended-warranties-dr). The most responsible thing a new car owner can do is set aside a sum of money that is reasonably size to handle a maintenance emergency that might or might not arise with their vehicle rather than just telling the dealership “Hi, I am fiscally irresponsible and can’t hold onto this money incase I need it for an emergency so instead I’ll give it to you and potentially never utilize it and therefore forgoing it.” Do you think those same people that buy extended warranty also buy gap insurance, more than likely if they have financial worry enough to throw money in the trash for warranty, they also don’t have the money to buy their vehicle outright; therefore would be in a world of hurt if they had an accident shortly after financing a brand new vehicle. Maybe they also buy the extended service plan on that $40 toaster from Sears, or the $1200 OLED TV they bought from Best Buy. If they can’t afford the maintenance that revolves around having nice things they don’t need to have them at all.
This is however, just my long winded opinion. Of course also backed up by statistics/facts.


Sent from my iPhone using Tapatalk
 

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@C-130loadmaster, with all due respect that's a bit harsh and belies a bit of misapplication of "statistics" to individual members of the population (by definition there are always data points in the statistical population on both sides of the curve/odds).

Looking at the very source you cite, 35% of extended service contract purchasers benefitted financially from their choice, and that would hold true regardless of the funds set-aside alternative (i.e. 35% of ESP purchasers recovered claims valuing more than the cost of the coverage). And it's a pretty safe 'bet' that among those, for some the financial benefit was substantial.

Many of your 'examples' are obviously wild or disproportionate hyperbole - c'mon man, you're better than that and that sort of 'pitch' doesn't help your credibility or effectively support your argument any more than calling folks who have a different personal view of risk tolerance "fiscally irresponsible" or "naïve". Couching it all as opinion doesn't mitigate that reflection on you one bit.

None of this has anything to do with being able to "afford the maintenance that revolves around having nice things", it has everything to do with the real-world possibility of very expensive mechanical failures independent of maintenance, and the recognition that based on "statistics/facts" those failures can and do occur, sometimes with attendant costs far exceeding the cost of a well-considered ESP.

One might ask if you pay for medical insurance, or even vehicle accident insurance, that cover things which 'statistically' you are unlikely to suffer, but that would be both impolite and the answer would be irrelevant for anyone else.

Please understand I'm not 'attacking' you, just suggesting that you consider how to most effectively share and advocate your opinion before hitting the keyboard. IMO you do and have made many well-considered and useful contributions to this forum.
 

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They do the same thing on the Accord forum saying that if you buy an extended warranty you are over extended because you can't financially cover an unexpected repair. What does this have to do with a consumer's financial health, they may have paid cash for their car or actually own their home. It's an irrelevant point in the pros and cons of a warranty discussion.

I always budget an extra 2k when buying a car for snow tires and an extended warranty. Look what a dealer charges for something as simple as brakes or a wiper motor or an LED DRL.. Of course, most purchasers of extended warranties lose but that's the name of the game in the insurance business. Then again, anyone that paid $500 as their share of a fuel injector replacement (with Honda covering the remaining 1k) must be kicking themselves for not having this protection. Also, with the crap coming out of HMA these days I'd rather have it. However, the discussion doesn't end there if consumers take a macro approach to the warranty concept there are often overlooked "intangibles" that come into play.

First is the peace of mind because I know that odds are that I can keep my car to the end of the extended warranty period and have the rational expectation of paying for gas, insurance and routine maintenance, nothing else.

Secondly, and IMO is this is mostly overlooked. The extended warranty keeps dealers honest and lets the consumer bypass all of their dealer BS. This leads to the car getting fixed the first time instead of the dealer being a parts cannon at the consumer's expense.

Unfortunately, extended warranties don't cover all problems. The intermittent issues or noises come to mind. If it aint broken they won't fix it. Also, there's the diagnostic charge issue as well.

I do think leasing for the warranty term is the real answer for low mileage drivers. If you car for example has piston slap or a deal breaker type of noise, just wait it out and you are rid of your problem and in a new car instead of living with something and being unhappy.. This too comes at a cost but cars have always been a losing proposition.
 

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@CentexG2 Sorry, I could have been a bit more collected in my delivery of how I said it however, it holds no less true today than it did last night at nearly 1am. I got a bit annoyed when someone I was quoted as basically saying " is, "I'm a betting man, so I'll take my chances that nothing major will go wrong- perhaps less than 50% of the time." because its almost as the person who said it doesn't realize that that is exactly what a warranty is A BET! Simple question, do you think Honda would continue to offer extended warranty if they lost money on them? I really don't mean to get so frustrated but when around this topic and I see my friends and peers throwing their money at the dealerships I get a little irritated. As someone mentioned why do people compare buying the extended warranty to not being fiscally responsible or stable and the answer to that is rather than trying to buy insurance on every object of value that you own you should instead save enough money to cover an unexpected cost should it arise. By the same flawed logic that you should buy and extended warranty on your car you should probably also buy insurance for your home HVAC system as well as insurance for your hot water heater and your refrigerator but many people don't do that because if their refrigerator kicks the can they will curse and carry on and then order a new one. as my favorite song goes, "That's Life" sometimes things happen but we can't afford to just pay someone to take the risk and responsibility should these things happen. Many people refer to the extended warranty as "piece of mind" but I urge them to try this, save up roughly $3500-5000 put it into a regular savings account and one day when you get very anxious that things are all going down the drain, take a look at the balance in the savings account and realize that you are covered, should a situation like that arise. If you factor in these extended warranties into your initial auto loan you are also paying interest on this sum and therefore cannot be cracked up to just the principle amount. Obviously there is another side to this argument and for those out there who plan to buy extended warranties I think it would behoove of them to read the micro-print and think about the things that typically go wrong and do they fall under the warranty umbrella. I do buy health insurance and of course legally I am required to have vehicle insurance, not that I would forego it if I were not required but these examples are drastically different in the sense that these mishaps or issues can easily total tens of thousands of dollars. sometimes into the hundreds of thousands of dollars. I will say that the deductible is high on my vehicle insurance because should a small problem arise that I can use that "emergency fund" to repair I am definitely going to do so rather than calling up USAA and expecting them to pay up. I'm also not going to kick myself for having a high deductible because the out of pocket cost is normally justified by the money I didn't spend on a higher 6 month insurance rate. I feel that to properly help educate people on financial responsibility it is important to be somewhat open about financial decisions so as to help them understand what is and is not normal/responsible. Feel free to ask away! I only used the hyperbole pitch involving the anvil as a way to help people who might be slightly confused on what perspective I am trying to display. I don't really think that the statistic I cited from the Dave Ramsey article was misleading in any way. Statistics always include outliers and the statistic I quoted said that 65% of car owners who bought extended warranties did not use them to their value potential. Therefore it is safe to say that the other 35% of the total extended warranty buying population did benefit from the purchase of an extended warranty. I personally am going to look at my statistics and base my decision of of that. It is the same reason I do not, have not, and will never buy a lottery ticket or scratch off. Statistically I am unlikely to win anything. If I walk into the gas station and see a lottery ticket sitting on the counter and the gas station attendant specifically asks me "Would you like to buy a scratch off?" and I reply "No thank you, I don't waste my money on those things." He then asks the guy behind me the same question, he says yes and scratches it off before even leaving the station. Lo and behold he wins $3,000. Should I beat myself up for missing out on that $3,000. I know my personal answer.

Again I really do want to apologize to anyone I have offended or agitated by posting my very brash opinion, It is never my intention to piss someone off, only to share knowledge and gain knowledge. I really just love being a member of the community here!:D
 

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19 Black edition here, I got them to drop the price 30 percent and went with the standard 7/100k HondaCare. I'm sure I could've gotten them down lower but they already had been good with acquiring something that wasn't readily available for 150 miles and beating an already good price.

This is my first new vehicle and while I'm sure there's a decent chance it may never pay itself off, as others have said peace of mind has a subjectively strong value in this decision process.
Having sold these contracts (late 1990's), a 30% price cut is a good deal. I would always tell friends/family to cut the offered price 50% and negotiate from there.
 

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If you bought new, its cheaper to add the warranty sooner than later. It will cost you more in your third year of the OE warranty rather than the first year.
 
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