hello everyone!so i just purchased a used 2008 honda fit sports in a buy and sell dealership.it has 93k miles in it and was offerred to get an extended warranty(2 years/24k mi whichever comes first)which would cost me and additional $1800.so i got it but have 30 days to cancel it.

carfax is clean and only has 1 owner but serviced it to the dealership every 7-10k miles for an oilchange which i think is too long.the car drives very smoothly and brought it to my mechanic and said the car is still in excellent condition.

so my question is,do u guys think i should get the extended warranty?i know hondas are very good cars but i just dont know when the car will have problems and $1800 is a ton of money that i could use to pay off the car right away.help!

 

7-10k oil interval is completely normal. If you had a PPI done on it then I honestly would skip the extended. It's a reliable car with a timing chain. Just keep up on the recommended and routine maintainance and be glad you bought a Honda.

Thats what... about a $10,000 car retail? 18% of the car cost for a 2 year warranty seams like a really bad deal to me.

Statistically on average the cost of the extended warranty exceeds repair costs for the duration. The finance guys make comission on extended warranties to they always push them like they're the greatest things ever.

 

thanks!just heard from a lot of people that the warranty is a bad deal plus the parts are cheap so i would end up paying more for the warranty than the repairs.whats a ppi?mechanic checked under the hood and saw that the essential parts being replaced and no leaks.and he took it for a test drive and said everything was fine.

 

basicly its just an inspection tht ur mechanic did...also try n make sure there has been a valve adjestment done..i talked to a honda dealer and said they need em round 80k miles..i got mine with 86k n it wasnt done..just a heads up.

 

thanks!what else should i look into?

 

Save your $1800, gamble on Honda, and thank me later.

 

other then tht for the 08's im not all to sure i got a 07 so i doubt the recall i had on mine refers to urs..on the 07 they had a recall on the window switch panel, they would allow water in n short the switchs out..if i hear more or i research it on alldata ill let u knw more...love havin alldata at my finger tips lol

 

I keep repeating myself on extended warranty threads, but it's NEVER a good bet statistically for the buyer (if it were, they wouldn't be pushed so hard; heck, they likely wouldn't even be sold). That's not saying it won't pay off for any particular buyer (folks do win in casinos and lotteries after all), but just about all buyers will lose money by purchasing such a warranty.

 

Skip the extended warranty. 93,000 miles is nothing for a Honda and secondly, if you purchase the extended warranty for $1,800, you are essentially betting that money that the car will break down. If that's the case, buy a car you have faith in.