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Discussion Starter · #1 ·
I'm hoping to go get my Element on Thursday and am finalizing details. My dealer offered me an extended warranty (4-years, 60,000 mi) for $905. Now, my stepdad got the same length warranty for his 2003 Accord at the same dealer a few months ago for $515.

Is the warranty somehow more costly for the Element, or am I just being bent over on the price? Anyone willing to say what they paid for their extended warranty?

Drew
 

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will this warranty start after your 3yr -36,000 mi warranty stops? I'm not sure
how this works, I know you said extended, but this will only give you 1 year of extended warranty
 

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Discussion Starter · #3 ·
This was to extend the warranty so that my car is covered to the end of my lease - i.e. 4-years/60,000 MI. So it is, in effect, 1 'extra' year of warranty beyond the factory standard.

Drew
 

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I dont reccomend you pay anything for a waaranty on a honda! They consistently have the lowest costs per contract in the industry. Theses means that for every extended warranty sold they pay out less than $100 in claims! Buy a Chrysler you need a warranty, buy a Honda save the money.
 

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Discussion Starter · #5 ·
Well, I know that Honda's have a really great service record and all, but if I'm only owning it for 4 years, I may as well just extend the warranty by a year and be done with it. Piece of mind I suppose. :)

But I'm still wondering if the rate I'm being quoted for that extension is as ridiculous as it sounds. I want to be armed with some numbers when I got in to get the deal done.

Drew
 

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Drew,

Look at things this way. If you were to pay about $1000 in repairs in 4 years, you would be breaking even.

Generally if you keep up with the oil changes, and routine maintenance, you should not need the extended warrantee.

If you don't, you have violated the terms of the warrantee, and they won't honor it anyway.

I have only had one vehicle that needed it, and that was an old Isuzu trooper II. It needed a valve job. That happened to be the only vehicle I got an extended warrantee on, and the repairs were needed within less than 1000 miles after the original factory warrantee expired.

While you say it is piece of mind, if you put aside the money and held it in the bank, you would be able to pay for $1000 in repairs if you need. While no one can say for sure what could or will go wrong with your Element, it is a gamble. The dealership takes your money and hopes that you don't have anything go wrong. You pay them and hope it does.
 

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Discussion Starter · #7 ·
Very true... and good advice to consider. I suppose for me it's the fact that of all the cars I've ever owned (including my Honda Accord back in the early 90s), all of them have had something go wrong almost immediately after the warranty was up. Most recently, my Saturn's CD-player died at 36,300 mi. on a 36,000 mi. warranty. Warrantys, insurance and copyrights are all gambles against something going wrong, but if I can talk the dealer down closer to $500, then all it'll take is one necessary repair in March 2007 to make it worthwhile, you know? Particularly with a brand new model that's already shown itself prone to loose chairs, shoddy windshields, scratchy plastic and odd rattling noises...

Guess it all depends on how cheap I can get them to go...

Thanks,
Drew
 

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drew,

i got mine for 856. its a total of 7 years or 75,000 miles. i say get the warranty. theres no need to pay for a repair bill while you are still making a car payment. in the long run, it just makes good sense.

one man's opinion
 

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drew,

i got mine for 856. its a total of 7 years or 75,000 miles. i say get the warranty. theres no need to pay for a repair bill while you are still making a car payment. in the long run, it just makes good sense.

one man's opinion
 

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there is a thread in the Ask the Dealer catagory on Honda Extended Warrantly (Ye or Nay). Somebody quotes warranties in that thread at much lower rates. check it out. I'm still struggling with whether or not I should buy the warrantly myself.

-Kizzz
 

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Discussion Starter · #11 ·
Yeah, if you got 7 years for less than I would get 4, then it's most certainly a bad quote. I think I should be able to get them down to $500-something... particularly since I know my dad got his for that at the same dealer.

Drew
 

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Has anyone purchased a "Third Party" warranty?..if so, from whom and how much? I'm curious whether this is a more cost-effective way to go, or if you're just asking for trouble when something actually does go wrong.

Also, just curious: how long after you buy a car can you get an extended warranty? Is there a limit?
 

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drew,

are you sure the 4 years is not on top of the 3 you already have? you automatically get 3 and 36000 from honda. if you ask your dealer, i'll bet the 4 years areon top of the 3 and you will get 7 total.
 

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Discussion Starter · #14 ·
Nah... I specifically said "how much to extend the warranty to cover my entire lease" - i.e. 4 years. I think it's just an insane markup... I'll talk them down or go with someone else's warranty. :)

Thanks all...

Drew
 

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I wouldn't be surprised if Drew is only getting 1 more year beyond the 3yr/36,000 warranty you get from Honda upon purchase. The warranty the dealer is selling is supposed to cover a lot more than the factory warranty. The way my dealer explained it to me, the 3yr/36,000 factory warranty covers only factory defects. In other words, if you drop your transmission because you accidently threw the car into park while doing 65, the factory warranty wouldn't apply. On the other hand, if you had purchased the warranty offered by the dealer, you'd be covered. The two warranties overlap, but the extended care warranty covers everything except wear and tear (such as tires, brakes...). Thats how the justify the large cost for a warrantly like the one Drew is considering, even though he'd only be extending the factory warrantly by 1 year.

I'd be very interested to hear from anybody who has purchased a warrantly from a third party. I think as long as you buy the Honda Extended Care warrantly, it will be honored at all Honda dealerships.

-Kizzz
 

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Dexter - I totally agree with you. I was just trying to show how the dealer justifies somebody purchasing an extended warranty that overlaps the factory warranty. Did you negotiate the price for your 7yr warrantly, or did the dealer quote that upfront. My dealer quoted me the 6yr warranty for over $900, I told them to go scratch.
 

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Discussion Starter · #18 ·
Well, I'm certainly going to negotiate them down a lot... I'm getting warranty quotes elsewhere to arm myself with when I go in tomorrow. I'm certainly not going to pay $905... but if I can't talk them down, I'll just get the warranty from someone else.

Drew
 
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