Car extended warranty question

[Tx Bohemian]

We've got 1500 miles and about 2 months before the factory  3yr/36K mile "bumper to bumper" warranty runs out on our '17 CRV.
Still have the "60K powertrain" warranty going for awhile.

I'm looking for thoughts on the extended plans.
Good idea to buy or not.
Has anyone had the extended warranty and glad they did, or bought it and wished they didn't?

If you're a fan of the warrantys what are some good ones.

I checked with the Honda people and they get $2500 - $2700 for a 5yr/30K-60K more miles extended plan.  Which, according to them, it's just like the factory "bumper - bumper" one. And it includes oil changes and tire rotation/balances free for 2 yrs.

[scooperhsd]

Bad idea, waste of money.The providers wouldn't sell them if they weren't making money with them. Think of them as INSURANCE.

[..]

The local radio consumer guy says to only buy factory extended warranties.

[Robert]

Extended warranty typically is anywhere between 1500 to 3000, with a CRV do you really believe you will have that much in repairs? I personally doubt it. 

[Jess from VA]

Dodge has only sent me 27 emails, letters and phone calls trying to sell me theirs.  (Actually, I think some are Dodge, and some are aftermarket.)  I do have the 5-Year/60,000-Mile Powertrain Limited Warranty for free.

I never answer any of them.  I don't want to encourage them.

My policy is always to try and buy the best product for the price I can, and never get any warranty (regular or extra) that costs money on anything at all.  I'm ahead.  I pay enough in insurance as it is.

 

[Rams]

Have known several folks who bought aftermarket (not factory sponsored) extended warranties, not one of them would advise you to buy one now.   There may be folks out there who are very happy they bought one but, I don't know a single person who has purchased one and would buy another.   YMMV.

Rams  

[Patrick]

$2500 goes quite a ways toward repairs, it they are ever needed. Majors repairs on a CRV ? They are pretty bulletproof if they are maintained.  So, I don't believe in those warranties.

That said, how long and how many million miles are you expecting ?

[MarkT]

I always buy products with great reliabilty records and I get those from Consumer Reports.  BTW your local library probably has a way to read those online with the use of your library card logon.  So I'm gonna bet it won't fail and I won't buy the extended warranty. I did buy the extended for my Gold Wing as it was a new model with more parts than an Accord.  Waste of money, it didn't fail until after the extended warranty. For cars, those companies with great reliability stats are Toyota, Honda, Mazda and perhaps some others like Subaru.  They are all Japanese - their culture is about quality products; they don't come back to the company for help after their purchase, and the workers are all about being proud of their work, getting buy-in on company quality and procedures - if you have toured a jap company (like the Honda plant in Marysville) you've seen that paradigm pervade the place.  Our culture is instead about the individual's rights, not the more socialist view of the jap culture.  Our cars aren't made as well while they have gotten better thanks to competitive pressure from the japs.  This is reflected in the reliability stats.  European - high priced, high maintenance costs, varied reliability. For these reasons - I buy jap company vehicles, while I'll accept those made in factories here.  I think the management is key to the quality, less who works the line.  My Kubota, made in Georgia by a jap company which produces higher quality than say JD - also from Georgia.  I buy the best product in reliability stats then do not buy the extended warranty.  BTW I'll add, the last 2 SUV's I owned before my 4runner, were Ford Explorers.  Kept the first one, a 94, 3 years and replaced it while still newish with a 97 Explorer.  Reason being, I knew jap cars were better but I was pissed at Japan at the time for their unfair trade practices.  The 2nd Explorer I kept until last year, was a lot of trouble.  Our 2015 Mazda CX-5 has been bulletproof so far.  So has the 2012 4runner except it developed a parasitic electrical leak which went away during diagnostics when all the computers were reset.  Our 2 Honda Civics had only a few minor problems, things worn out with high miles, kept the 2nd to 275k miles and traded it in - still everything worked.  Your GM car may have something break on the way home from the purchase.  Look at them on the 2nd or 3rd day at a car show - there will be something broken on the dash there - seen that several times.  GM car lovers - you're happy - good for you.  Car brand loyalty is a long-time fact here.  I have a buddy who will only buy Chevys regardless of his problems.  And he bought a Harley when he got back into bikes, in spite of my repeated warnings being in this world for decades.  My Dad would only buy Chrysler products for as long as I knew him from the 50's til he passed in 2010 - after he had picked his brand - Chrysler because he was a liberal whose support goes to the underdog - while Walter Chrysler was a Kansas farm boy as was my Dad.  He would forgive Chrysler for all faults his cars developed. Total denial.  I won't buy ANY big three car again and I've had several examples of all - all had issues and I cared for them religiously.  The track record of the major products I buy is my ONLY metric (since the Explorer fiasco).  OK price matters too.

[scooperhsd]

My 2015 Golf don't need no stinking extended warranty - as part of the Fix it agreement with the Government, I get 165,000 miles of coverage from VW for anything under the hood related to emissions.

[cookiedough]

Extended warranty typically is anywhere between 1500 to 3000, with a CRV do you really believe you will have that much in repairs? I personally doubt it. 

agree the chances of using it are slim to none and much over 1K anyways is a rip off.  I got suckered into buying an ext. warranty on a brand new toyota RAV4 about 12 years ago thinking I would keep it forever right?  Well,  it was ONLY 1 grand for 10 years and 100K miles bumper to bumper warranty from dealer which in reality is pretty cheap I think.  However, after the POS blew a head gasket and other major issues at 26K miles and 2 years still under warranty,  I sold the darn thing got rid of it thinking I would get my 1K totally back minus a small fee - WRONG,  pro-rated since day 1 of getting it so got back like 650 bucks of the 1K after 2 years of use and 26K miles.    total waste of 350 bucks.

Your honda CRV probably will not have any issues anyways say 36K bumper warranty + 30K more miles trouble free most issues start cropping up after say 75-100K miles like suspension etc.  Even if it was again 10 years and 100K miles bumper to bumper for 1 grand,  I would say NO.

[Moonshot_1]

Warranty it your self. Put $3000 in a special car fixing account. Even considering the worse case, the worse case would not likely be $3000 to fix and if it is, you would likely get something else.

We're talking about a Honda here to boot.

Don't use it after 5 years and tada, you got an extra 3k + interest.

[F6Dave]

If you decide to get an extended warranty…

• Only buy the manufacturer's warranty.  Those aftermarket warranty companies are known for denying claims.  And that company could be gone 3 years from now when something breaks.
• Shop around!  Warranty markup is HUGE.  Typically about half of what dealers charge for an extended warranty is profit.  Call other dealers, both in and out of state.  Many dealers have websites where you enter your vehicle info and they send a quote.  I found a Ford dealer in Minnesota that charges cost +$100 for a Ford ESP warranty.  I paid less than $1000 for a 7 year bumper to bumper warranty on my wife's Escape.
• A warranty may give you peace of mind, but don't expect to come out ahead financially, especially with a reliable vehicle like a Honda.  Years ago Consumer Reports said manufacturers pay out 17 cents in claims for every dollar they collect in premiums.  No wonder they push them so hard!

[pais]

I'm guessing the CRV has been a good, trouble free car to this point?
I will echo what a lot have already said. The exorbitant cost of the warranty/insurance will cover a lot of repairs. Including a single big hit, tranny or engine. You know the vehicle and maintain it.
Rainy day repair account will work if it's a piece of mind thing for you.
I dont consider additional warranties on anything I buy. I try to buy the most reliable item available at the given time. Take care of it and it should take care of you. Regardless, it's always a gamble. I still like to play with the best odds.

[Robert]

If you want a warranty and don't really want to pay for it, just take 200.00 every month and put it in a special savings account and at the end of a year take part of the money and celebrate that you did not buy insurance and if you have to cover a repair you have the money to do it. simple.

[bassman]

A couple of thoughts (both threads below) from Consumer Reports and Dave Ramsey with support for some of the input above....



extended car warranties rated

extended car warranties rated

[Tx Bohemian]

I'm guessing the CRV has been a good, trouble free car to this point?

Well, that's just it.  This thing has done some weird stuff on the electrical/electronic side when the wife was driving which has me concerned. Plus this is a first year "gen 5" CRV.  These always seem to be "experiment models".  The years since have had upgrades.

I will echo what a lot have already said. The exorbitant cost of the warranty/insurance will cover a lot of repairs. Including a single big hit, tranny or engine. You know the vehicle and maintain it.
Rainy day repair account will work if it's a piece of mind thing for you.
I dont consider additional warranties on anything I buy. I try to buy the most reliable item available at the given time. Take care of it and it should take care of you. Regardless, it's always a gamble. I still like to play with the best odds.

I agree with saving the initial cost and a "rainy day account".
I always take care of my vehicles, just sold a '99 Sentra that had 265K miles and still going strong.
But if this thing fries a computer in the middle of a Houston trip, which would be no fault of mine, you can imagine the hassle along with the expense!

[cookiedough]

trade her in on a new honda CRV the newer ones are supposedly better if you can stand a dinky prius engine 1.5L size with a turbo..