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New Car Warranty Questions

Hello:

Just bought a new Accord LX (6 Cyl) It's been a very, very, long time since I last purchased a new car.

Understand that it's perhaps a bit subjective, etc., but would appreciate any thoughts and opinions, on whether it's a good idea to add on the extended Honda warranties, etc.

They appear to be very pricey. Seems like this is probably where they really make a killing.

Is it "allowable" to purchase the car at one dealership, and an Extended Warranty at another due to a meaningful cost differential ?

Anyway, the specific items are:

a. "Economy" Service Plan. $ 1,400 "Mechanical component coverage beyond the factory warranty, with additional benefits. 84 months, or 100,000 miles. No deductable. "

Would certainly hope to keep the car for 100,000 + Guess that this also covers transmission, which now would only be for 3 yrs/36,000 mi. Funny, Toyota Camry's warranty is 5 yrs/60,000 for trans.

b. Simonize $ 400

c. LoJack $ 700

What's the going price elsewhere these days for (b) and (c) ?

Much thanks, Bob

Reply to
Robert11
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No, no, and no. There's a Simpsons episode where Homer has become intelligent but decides he liked it better stupid. As Moe works to restore his stupidity in stages, Homer says decreasingly stupid things. When Homer says "Extended warranties are a good deal", Moe announces "Dumb enough".

Exactly. Especially with a Honda, one of the most reliable cars out there.

Yes, but see above.

No Honda will need enough work to offset the cost of this warranty during the warranty period. Most of it is already covered by the factory anyway. Transmissions are very reliable. Be sure to read about all the stuff that the warranty does _not_ cover. They pretty much exclude everything that might go bad. If you have the $1400, throw it in the stock market and self insure. You'll do better in the long run.

This is total nonsense. You can buy the "polymer treatment" that they want to sell you for about $26 and do your car every six months for about 3 years. 'nuff said ? I'll direct you to it if you'd like to DIY. They pay a mechanic $25-50 to do the car for you.

Your choice. The odds of your car being stolen are low, depending on where you live. If it has an anti-theft system that disables the ignition (no key, no go) then the odds of theft are very low - just guys with a ramp truck. They don't steal Hondas.

Reply to
Jimmy

How stupid of me - that's "increasingly stupid" !

Reply to
Jimmy

Basically, you're right. If you buy it, think of it as insurance. You'll probably never use it, you'll most likely lose money on it, but there's a remote chance you'll come out way ahead.

You can buy it anywhere. And you don't need to buy it right away either. And the price is negotiable.

Ignore sales brochures, which are not binding. Read the contract. Read the fine print. Understand it. Ignore anything you're told verbally.

What does it really cover? Where do you have to go for service? What company is behind the insurance? Will they be in business in 5 years? Where is the company located? Do they have a real address and a telephone number where a human being answers? If there's a dispute, are you stuck with binding arbitration.

Don't guess, and don't ask the salesman his opinion. The contract is all that matters.

$10 and a half hour's work.

Reply to
kgold

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