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Where do you stand on the extended warranty?

  • Yes I bought it.

    Votes: 80 41.2%
  • No I did not and don't plan to.

    Votes: 74 38.1%
  • I haven't yet, but am thinking about it.

    Votes: 39 20.1%
  • Just dont' know.

    Votes: 1 0.5%
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Discussion Starter #1 (Edited)
I'd like to know how many of you all bought the extended warranty, didn't buy it and don't plan to, or are thinking about it.

All reasons and opinions are welcome also.

Me, I'm thinking about it, but not sure yet.
 

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I did not buy the extended warranty.

I've briefly thought about it, primarily because of the Navi.

What are other's thoughts on it? Those who have had Navi's in other Honda's/Acura's - any long term problems?
 

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I did not buy it because:

1) Honda's reputation / quality.
2) The warranty wouldn't offer it if they didn't make money. For them to make money, it stands to reason that the purchaser is going to lose money. Playing the odds says that I won't need it because if I did need it, Honda wouldn't make money from it.

I guess it's insurance, but I'd rather pay as I go. Most major repairs are going to be beyond 100,000 miles anyway, in my opinion.
 

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When I worked in sales, I made a lot of $$ selling warranties.

Not only was the company "selling air," but they offered bonuses to do it because it is virtually 100% profit.
 

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I bought it -- thought it was a good idea considering it's a new model, and a totally new domain for Honda. I fear electrical problems and other things that will cost time and $$ to fix.
 

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This might not relate, but my previous vehicle (talk about a change) was a 2000 Ford Super-Duty Lariet package 4 X 4 diesel package. I (thank God) had purchased the Ford Extended Warranty when I picked-up this truck and I can tell you Ford Motor Company lost their ass on that lemon...They even called me and complained about it and my answer to them was to quit being so cheap on their materials when building a 7,500 pound truck and maybe the suspension would hold up to everyday normal driving. Yes, I was running scared on this purchase and decided to play it safe being a "new" unproven vehicle that is loaded with electronics. Time will tell...
 

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Yes I bought it. I got the 6/120k miles. This is a first model year. There are lots of electronics too. HOnda has all the right tools to trouble shoot any problems. You would probably get your money back, the firsat time there is a problem. Have owned GM products for the past 30 years, been there done that! It's cheap insurance, if you drive a lot and plan to keep your Ridgeline. I bought it on-line thru christn after seeing his post on this website. There is a link below for further info. He has the best price around. It was easy to do and painless. I paid $985.00. :D

http://ridgelineownersclub.com/forums/showthread.php?t=332&highlight=christn
 

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That's part of buying a HONDA, you don't need to purchase an extended warranty!!! But they should make more than one color, black!!:D
 

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Nicholas said:
This might not relate, but my previous vehicle (talk about a change) was a 2000 Ford Super-Duty Lariet package 4 X 4 diesel package. I (thank God) had purchased the Ford Extended Warranty when I picked-up this truck and I can tell you Ford Motor Company lost their ass on that lemon...They even called me and complained about it and my answer to them was to quit being so cheap on their materials when building a 7,500 pound truck and maybe the suspension would hold up to everyday normal driving. Yes, I was running scared on this purchase and decided to play it safe being a "new" unproven vehicle that is loaded with electronics. Time will tell...
This is too funny. I am trading in my 2002 F250 Supercab diesel for the Ridgeline. My wife told one our friends about what I was doing and her husband wanted to make sure that I would not be able to "tow nearly as much" :D
My wife informed her that I was quite aware of this fact. She's a keeper.
 
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I bought the extended warranty because you never know with a vehicle that has no repair history. Better safe than sorry. Besides, it was Todd's money not mine!! :D
 

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ladyridge said:
I bought the extended warranty because you never know with a vehicle that has no repair history. Better safe than sorry. Besides, it was Todd's money not mine!! :D
I would have got it too if I could have used Todd's money! ;)
 

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I took the extended warranty for 5 Yrs and/or 100,000 miles with $0 Deductible.
I felt that I had negotiated a good price for the RL, and the cost of the extended warranty did not seem too bad. In addition, the RL is a new model with no frequency of repair history.
With the amount of miles I drive I would only get ~1.5 Years out of the mfg original warranty.

When the extended warranty expires I will start considering that it is time to trade for a new vehicle (RL - Hybrid ... :) looks promising).
 

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No, I don't buy extended warranties for anything. I research the product or manufacturer before I buy. Probably saved enough over the years to buy several Ridgelines. And no, I have never regretted this decision.:)
 

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The consensus opinion of most automotive professionals is that an extended warranty is not a good purchase.
Profit margins for these products is cosiderably larger than they are for actual vehicle, parts or service purchases. This tells you that the Manufacturer takes in a lot more revenue for the warraties than they pay out in benefits.
Unless you purchase a lemon, they are a very poor investment.
 

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I guess I'm a sucker. After a really bad experience with a 2001 S-10 out of warranty, but with only 40,000 miles, I decided I should buy it. I had the first year thing in mind too.
 

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Discussion Starter #18
Wow its really balanced here as far as bought/didn't buy it. I'm currently on the fence. When I initially bought the truck I was sure I was going to buy it. Now I just don't know.

With a 7yr/100,000 extended warranty its adding 4 years to everything, and only 2 years to the drivetrain. The drivetrain seems to be proven, since its very similar to whats in the Pilot (yes I know its not the same exact thing, but fairly close).

And the warranty is going to cost about $1,100, so I gotta decide where I'm likely to have repair costs that are going to pass the $1,100 dollar mark between 3 years and 7 years. The more I think about it, the more I think the odds of me spending that much money on repairs in that time frame is pretty small.

So I'm still thinking about it, but I seem to be leaning more towards not buying it:confused:
 

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We did not buy the extended warranty (offerd for $1800 then dropped to $1018 with 'Costco affiliation). Reason: 93 Prelude lasted 200,002 miles (no trips to the shop other than some module that went out). Truck has new body style, but Pilot engine-proven. Totally agree that 'extended warranty' does not cover 'much'...our Finance guy had 'no idea' what it covered...and just wanted to wring us dry. We bought the Honda because of the brand and we got a high VIN# too (hoping for no problems w/early production models).
 
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