Honda Ridgeline Owners Club Forums banner

1 - 11 of 11 Posts

·
Registered
Joined
·
7 Posts
Discussion Starter · #1 ·
I just purchased a 2020 RTL-E and got talked into purchasing the extended warranty for approximately $2800. It covers various items for 10 years or 150,000 miles (or 7 years after the 3 year manufacture warranty expires). I have 60 days to cancel for a refund to my loan. The finance guy said it covers all the cameras, sensors and computer electronics but the contract doesn't mention those items. Any advice on whether it's worth it? Has anyone actually had to use theirs?
 

·
Registered
Joined
·
2,066 Posts
Congrats on your new RL & welcome to ROC! :)

It covers various items for 10 years or 150,000 miles (or 7 years after the 3 year manufacture warranty expires).
That term and duration does not sound like a genuine Honda "Honda Care VSC" contract (they don't offer them for that many years / that many miles on new vehicles). Many Honda dealers sell third-party 'extended warranties' (higher dealer profit-margin than even Honda Care). If your contract doesn't say "Honda Care" it isn't the genuine Honda product.

Caveat Emptor - be very careful to read the full terms and conditions of the actual contract you purchased. No one's 'experience' will apply to your situation unless they happen to have the exact same third-party contract you have.

Many folks here have elected to purchase the genuine Honda "Honda Care VSC", many of those buying from Hyannis Honda or Saccucci Honda at much lower price than many local dealers will offer (not allowed in Florida due to state laws, maybe some other states).

Personally, I wouldn't touch any third-party 'extended warrranty'. YMMV.

Site Search "honda care" for more info; here's one thread that might be of interest:

Any advice on whether it's worth it?
The 'worth' of a VSC (aka 'extended warranty') is a hot-button topic. Only you can decide your risk tolerance and the value to you. The existing threads you'll find by Site Search will offer opinions flogging the topic thoroughly ;)
 

·
Premium Member
Joined
·
477 Posts
Be an informed consumer.

Personally I saved about $1,000.00 purchasing a Honda Care warranty because of what I learned right here on ROC.

CentrexG2 has already pointed you in the right direction. Save yourself some money ?.
 

·
Registered
Joined
·
24 Posts
I recently purchased the Honda Care product, from one of the dealers mentioned above. Although there are a wide range of opinions on these warranties, I tend to keep cars for a long time (just upgraded from my 06 RL), and the certainty and peace of mind have value to me. I can afford the Honda Care now.
I didn’t really consider a third-party warranty. Apart from cost and scope of coverage, there are too many issues for me about who is really behind the warranty, how and where can I get service performed, and will the warranty company be around in 7 or 8 years when I need them.

Good luck.
 

·
Registered
Joined
·
450 Posts
Cancel immediately.
Take that $2800 and put it in an online MM or CD.

If you happen to need a repair after the factory warranty, you can use this money to pay for it.
If not, then you'll have $3000+ in the bank to do whatever you want with.
 

·
Registered
Joined
·
2,066 Posts
Cancel immediately.
Take that $2800 and put it in an online MM or CD.
IF that's possible; more often than not, when a VSC is rolled into vehicle financing and then terminated, the terms of the financing agreement require the refund to be applied to principal-reduction rather than 'cash back'.

That at least has the immediate benefit of reducing the payoff-term and interest paid. FWIW I do agree that were I the OP I'd cancel the current contract ASAP, though I might elect to purchase a discounted Honda Care plan instead.

As always, each individual's circumstances may differ, YMMV.
 

·
Registered
Joined
·
450 Posts
IF that's possible; more often than not, when a VSC is rolled into vehicle financing and then terminated, the terms of the financing agreement require the refund to be applied to principal-reduction rather than 'cash back'.
Boy I hope he didn't finance that extended warranty.
If so, that ridiculous warranty will end up costing him ~$3100, depending on the rate & term.
 

·
Registered
Joined
·
117 Posts
From reading the op, it looks like the cost of the warranty was figured into the financing. As someone who did the same thing, but recently cancelled the policy, that would be my suggestion.

That refund will be applied to your principal, so while it will lower the amount you owe, your payment will not change. Just throwing that out there, not assuming you don't know that. Getting a Honda Care warranty from my research, would be best to get while under 6000 miles. Your car is still considered new(new). After that it is considered new(used)and your coverage duration will change.Don't quote me, but I believe if under 6000 miles you can purchase a 8yr/120,000 mile policy. Call Sean Rausch at Hyannis Honda if and when you decide you want the Honda Care warranty.He quoted me the best price/ policy for my 2019 Ridge with 11,000 plus miles.
 

·
Super Moderator
Joined
·
5,892 Posts
From reading the op, it looks like the cost of the warranty was figured into the financing. As someone who did the same thing, but recently cancelled the policy, that would be my suggestion.

That refund will be applied to your principal, so while it will lower the amount you owe, your payment will not change. Just throwing that out there, not assuming you don't know that. Getting a Honda Care warranty from my research, would be best to get while under 6000 miles. Your car is still considered new(new). After that it is considered new(used)and your coverage duration will change.Don't quote me, but I believe if under 6000 miles you can purchase a 8yr/120,000 mile policy. Call Sean Rausch at Hyannis Honda if and when you decide you want the Honda Care warranty.He quoted me the best price/ policy for my 2019 Ridge with 11,000 plus miles.
I recently got a quote for the Honda Care warranty for a used vehicle with 30 months/26k miles. Here is what they said:

•Vehicles with 12,001 miles up to 24,000 miles on odometer. Please add a $50 surcharge.
•Vehicles with 24,001 miles up to 36,000 miles on odometer. Please add a $100 surcharge.


The longest $0 deductible warranty you can purchase for a used Honda is 60 months/120K miles.. That means 60 months from date of warranty purchase and 120K miles from when the vehicle was placed into service.
 

·
Registered
Joined
·
2,066 Posts
I recently got a quote for the Honda Care warranty for a used vehicle with 30 months/26k miles. Here is what they said:

•Vehicles with 12,001 miles up to 24,000 miles on odometer. Please add a $50 surcharge.
•Vehicles with 24,001 miles up to 36,000 miles on odometer. Please add a $100 surcharge.


The longest $0 deductible warranty you can purchase for a used Honda is 60 months/120K miles.. That means 60 months from date of warranty purchase and 120K miles from when the vehicle was placed into service.
IMO the lesson in all of these different quotes mentioned:

Contact the various vendors of Honda Care (or use their online system) and provide the info that applies to your specific situation. You'll get a prompt reply with quotes for all plans available that apply specifically to you ( the entire range of deductibles, miles, and time), and likely all at a lower price than your dealer will offer.

At least that was my experience ... it costs nothing, takes little time, and you get all the info you need to make a choice and move forward.
 

·
Registered
2020 Ridgeline Touring -- "Pearl"
Joined
·
21 Posts
I am in Canada and I we just purchased a 2020 Ridgeline Touring edition. On extended warranties I usually do not purchase these but with the amount of electronics in this vehicle I figured I better. The dealer ended up selling me a plan from 1st Canadian rather than the Honda extended warranty. The deciding factor was his statement that the Honda Canada extended warranty would not be honoured when/if I travelled in the states and had a breakdown. Since I live 15 km's from the border, before COVID and after COVID we will probably be travelling in the states. This was a deciding factor in us not choosing the Honda extended warranty. Can anyone verify this for me before I ask Honda Canada?

Thanks in advance. Love the truck, hate the pressure sales tactics.
 
1 - 11 of 11 Posts
Top