Is Extended Warranty worth it?

CTR Master · Apr 28, 2018

I purchased an 7 year warranty (Honda), which apparently extends the manufacturer's warranty. And also Sentinel which is Oil Changes. Are either of these worth it?

.grimace · Apr 28, 2018

I got the extended warranty and lighting warranty. I am thinking I should return them both. Hearing these horror stories about trying to get a transmission fixed it doesn’t seem worth it.

childishthing · Apr 28, 2018

CTR Master said:
I purchased an 7 year warranty (Honda), which apparently extends the manufacturer's warranty. And also Sentinel which is Oil Changes. Are either of these worth it?

First of all, yes. HondaCare is an excellent value, even at the price most dealers charge for it. If you got a deal on it, even better.

Second... maybe you should've asked this before you bought it? Just a thought.

Grimace, don't be an idiot. If you're going to keep your car for the term you bought the warranty (assuming you bought HondaCare), a single claim could end up paying for itself. As for the lighting warranty, I couldn't tell ya.

Dealing with Honda on the transmission is it's own unique set of problems that you'll have to deal with. The transmission is not the only reason to have a warranty though; you bought a turbocharged, direct-injected Honda with adaptive dampers, variable steering ratio, and a limited-slip differential. All of those are expensive to replace or repair out of warranty.

stevescivic · Apr 29, 2018

childishthing said:
First of all, yes. HondaCare is an excellent value, even at the price most dealers charge for it. If you got a deal on it, even better.

Second... maybe you should've asked this before you bought it? Just a thought.

Grimace, don't be an idiot. If you're going to keep your car for the term you bought the warranty (assuming you bought HondaCare), a single claim could end up paying for itself. As for the lighting warranty, I couldn't tell ya.

Dealing with Honda on the transmission is it's own unique set of problems that you'll have to deal with. The transmission is not the only reason to have a warranty though; you bought a turbocharged, direct-injected Honda with adaptive dampers, variable steering ratio, and a limited-slip differential. All of those are expensive to replace or repair out of warranty.

Not sure if Honda Care in the US is different than that of Canada but the dampers are NOT covered under the extended warranty. I was going to buy the Honda Care warranty for 7 years until I started looking at what was actually covered. Specifically I was looking for coverage on suspension, interior seats and infotainment system and NONE of those were apparently covered which raises the question of why bother then?

The cost of the extended warranty here was $1800 CAD so it was quite steep and even after the finance guy gave me a discount on it that it still worked out to like $1600. Not much money really but at the time of purchase I was already spending a fair bit on a car so I figured I could decide if I wanted the extended warranty just before the comprehensive factory warranty ends. Hopefully the 10th gen holds up well and gives me confidence to NOT buy an extended warranty.

bobafettm · Apr 30, 2018

I've already started to ruin any warranty before the car arrived. I knew I would mod the **** out of the Type R thus why I found no reason to go with the extended warranty. BUT if you plan on keeping the car pretty much stock you can get extended warranties for an excellent price online.

averagetrackdriver · Apr 30, 2018

If you decide on getting a non-manufacturer's extended warranty, just be sure to carefully read the clauses and exceptions in the contract. My experience with extended warranties has been an exercise in frustration. These companies find a way to deny your claim based upon their "interpretation" of the contract. IMHO, it's better to set aside a little money every month and create your own repair fund. Whatever you don't spend after you sell or trade in your CTR, you can put toward your down payment of your next car.

remc86007 · Apr 30, 2018

I initially bought the Honda Care, but after looking at what was covered--and more importantly, what wasn't covered--I decided to return it. I'll be paying quite a bit less in accrued interest and my payments will end sooner as a result. I had an expensive extended warranty on my CR-Z which I bought new, and never made a single warranty claim on the car. Although many of the parts on the R are expensive, my family's experience with Hondas over the past 20yrs and combined million miles, has been that nothing considered part of the powertrain breaks. The one exception was the auto transmission on my 2001 Accord which Chevy screwed up the design of and Honda replaced it 60k miles out of warranty.

These warranties are sold to make a profit; if you are the type of person that lives paycheck to paycheck (maybe the R isn't the best choice), I can see the value of having the warranty. However, if you have a couple thousand dollars in savings, you are better off self-insuring your cars than buying the extended warranties.

stevescivic · Apr 30, 2018

remc86007 said:
I initially bought the Honda Care, but after looking at what was covered--and more importantly, what wasn't covered--I decided to return it. I'll be paying quite a bit less in accrued interest and my payments will end sooner as a result. I had an expensive extended warranty on my CR-Z which I bought new, and never made a single warranty claim on the car. Although many of the parts on the R are expensive, my family's experience with Hondas over the past 20yrs and combined million miles, has been that nothing considered part of the powertrain breaks. The one exception was the auto transmission on my 2001 Accord which Chevy screwed up the design of and Honda replaced it 60k miles out of warranty.

These warranties are sold to make a profit; if you are the type of person that lives paycheck to paycheck (maybe the R isn't the best choice), I can see the value of having the warranty. However, if you have a couple thousand dollars in savings, you are better off self-insuring your cars than buying the extended warranties.

Totally agree with what you've said. I initially wanted it and then after reviewing all of what was NOT covered I figured that I'd take my changes and "self-insure" as you've described and likely will come out on top saving my $$$.

What do you mean Chevy screwed up the Honda Accord transmission? Am I missing something here or are you suggesting that Chevy helped Honda design/build that crappy tranny on their V6's from 1998-2004? If that is the case then that is something I had no idea Chevy did!

remc86007 · Apr 30, 2018

^That is what we were told by the Honda dealer that did the transmission swap on my 4cyl. Granted this was 15 years ago, but I remember the dealer telling us that Chevy had built some of the internals of the transmission and that some parts were not getting sufficient transmission fluid which led to problems.

stevescivic · Apr 30, 2018

remc86007 said:
^That is what we were told by the Honda dealer that did the transmission swap on my 4cyl. Granted this was 15 years ago, but I remember the dealer telling us that Chevy had built some of the internals of the transmission and that some parts were not getting sufficient transmission fluid which led to problems.

Interesting. Can't say that I've heard that one before and you said it was a 4cyl tranny failure?

I wish Honda would consult with Toyota more on how to build a solid automation. I feel that Honda makes one of the better manual gear boxes out there but man alive they can't build an automatic if their lives depended on it!

23Red · May 4, 2018

Based on past experiences I'll never buy an extended warranty again. Either I've never had to use it or it doesn't cover the problem, either way money wasted. Let's just say my finance guy was pissed when I turned down the extended warranty when I bought my CTR.

Yellow Jacket · May 4, 2018

Consumer Reports almost always recommends against getting any kind of extended warranty, and like a previous poster said, take the money you would have spent on the warranty and put it aside for your own self-insurance.

Extended warranties are a money-maker for them, and thus a money -loser for you. Everyone will hear about the guy who came out ahead because of one expensive repair, but that is the exception, not the norm.

chestypuller · May 9, 2018

stevescivic said:
Not sure if Honda Care in the US is different than that of Canada but the dampers are NOT covered under the extended warranty. I was going to buy the Honda Care warranty for 7 years until I started looking at what was actually covered. Specifically I was looking for coverage on suspension, interior seats and infotainment system and NONE of those were apparently covered which raises the question of why bother then?

The cost of the extended warranty here was $1800 CAD so it was quite steep and even after the finance guy gave me a discount on it that it still worked out to like $1600. Not much money really but at the time of purchase I was already spending a fair bit on a car so I figured I could decide if I wanted the extended warranty just before the comprehensive factory warranty ends. Hopefully the 10th gen holds up well and gives me confidence to NOT buy an extended warranty.

heck i didnt know you could still buy it later before the honda warr ends.

Dragnet · May 9, 2018

23Red said:
Based on past experiences I'll never buy an extended warranty again. Either I've never had to use it or it doesn't cover the problem, either way money wasted. Let's just say my finance guy was pissed when I turned down the extended warranty when I bought my CTR.

My finance guy was not happy with me either. Guess they wanted that money.

23Red · May 9, 2018

Dragnet said:
My finance guy was not happy with me either. Guess they wanted that money.

Dude straight up called me nuts to my face. If I didn't want the car so bad then I probably would've said some choice words to him and walked out.

Is Extended Warranty worth it?

CTR Master

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.grimace

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childishthing

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stevescivic

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bobafettm

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averagetrackdriver

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remc86007

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stevescivic

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remc86007

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stevescivic

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23Red

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Yellow Jacket

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chestypuller

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Dragnet

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23Red

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