HELLO: After a two month wait I am finally picking up my VBP LX (CANADIAN) manual trans. on Friday. My dealership has offered Honda Plus Extended warranty 5 years/ 100,000 kms. for $592 plus taxes. Some things that have me wondering if it is worth purchasing is that some of the items that are not cover in the ext. 2 yrs. are parts that would most likely wear out. ( brake rotors, shocks, oxygen sensor.) So it is not a true bumber to bumber warranty! Also is the $25 deductable on the complete warranty period, or just the extented. I have owned many new vehicles in my life, but this will be my first Honda. Thanks for any advice.

 

I've got 500 miles on my Fit and still haven't decided on the extended warrantee. I'm not sure if these prices are valid in Canada but check out:
http://www.collegehillshonda.com/hondacare/warranty.htm
There may be Canadian dealers offering warrantees online also.

A LOT of people say that extended warrantees are just no good and that you're better off putting the money in the bank to earn interest. If you need a big repair the money will be there. There are other threads on this subject and lots of anecdotal stories of needing the warrantee also.

Most of the people on this forum will say 'what do you need that for? It's a Honda!'

 

NO, NO, NO - I't not worth the $500. The dealers are agressively pushing this because they don't make very much money on the Fit. It's their way to pad their profits. Rick Hendrick Honda in Charleston, SC tried to take my girlfriend for $1,200 for the "extended" warrantee.

 

I'll likely exceed 36,000 miles within my first year...and I still would have nothing to do with extended coverage. I'm buying a Honda to avoid such a policy.

 

I have bought the extended warranty on all my Honda's and never used it until yesterday.

I was driving home in my '02 Civic (76,000 miles) and when I downshifted it started making a rattling sound and was whining like it had a supercharger. I took it to the dealer and it turned out to be the tensioner for the timing belt. They replaced the riming belt, water pump, and tensioner and also set me up with a rental until my car was done.

The final bill with tax was $53. The best part is that I will not have to pay to replace the timing belt and water pump when that service comes up.

This was one case where I was happy that I bought the extended warranty.

 

What did you pay for the extended warrantee 4 years ago?

How much have you paid over the years for extended warrantees that you have never used?

What would the repair have cost without the warrantee?

The point is, the "final bill" is not $53, but all of the money you have paid to date for ALL of the extended warrantees.

 

I paid $900 USC for an 8 year, 120,000 mile contract on mine.

Check out this thread: https://www.fitfreak.net/forums/show...ight=hondacare

I know everyone says "It's a Honda! It doesn't ever break!" Well, every time I have stopped by the Honda dealer, I see the techs working on Honda's, so they must break sometime!

All it takes is a part to go bad in the engine, transmission, computer sysem, and you might be wishing you had it. Check out the meantioned website as well as Ebay for a Hondacare service contract.

 

The question is not whether or not the car will require service, the question is whether or not an extended service contract is a good value. 99% of the time the answer is NO.

Basically you are placing a bet the day the buy the car that you are going to have a huge repair bill after the standard warrantee expires. Is it a good bet? On a GM car - you bet! On a Honda - nope. And like I said in the previous post - if you pay $1,200 for an extended warrantee and the car breaks and you only pay $53 at the time of the repair - that means you paid $1,253 for the repair - not $53. Furthermore, you put down a $1,200 deposit on the repair 4 years ago! Wouldn't you rather keep that money in your bank earning interest for 4 years?

 

^ Agreed. Just put $100 a paycheck into savings and you'll be ready IF something goes wrong. Chances are if something happens it'll be cheaper than what you paid for the warranty.

Now, with a used car, I can see getting a warranty since you don't know everything about the car, but even then...

 

Now how many people are really gonna put money away for repairs? I've never purchased an extended warranty, but I did this time cuz it only added $10 to my 5% financing, I got a good deal on the price, and if something were to happen may or may not cost just as much as I paid for the warranty but much more than the $10 I would miss a month.

But Canuck, you are right. It won't pay for regular wear and tear items like brakes. It does cover such items as water pumps, radiators, transmissions, etc. But this is a new car for NA w/a newer computer, etc. Who knows what might happen?

 

I bought it because the finance guy tweaked the system. I bought the car on June 1st and qualified for 6% interest. He tried to sell me on the warranty, I said no. Then he said they ran a special until May 31st where if you bought the warrant you could get 2.9%. So he dated the deal for May 31st, and it made it very affordable to get the warranty. Plus, I put tons of miles on them, in the country, on dirt roads and will likely use it. If you putt around in the city, you probably won't use it.

 

I view the extended warranty as nothing more than an insurance policy. I carry collision and comprehensive insurance on the car even though I never expect to get into an accident. I also never expected a tree to fall on my car but then hurricane Wilma paid a visit. Over the life of the car, the collision/comprehensive insurance costs way more than the extended warranty, er, I mean repair insurance. Also, figure out what the interest payments are to throw the extended warranty into your loan. What the sales folks won't tell you is that Honda will finance the warranty at 0% interest for up to 18 months. I figured that the interest saved equaled one of those monthly payments.

 

You also carry collision and comprehensive insurance because the law requires you to carry collision and the finance company won't finance you without comprehensive.

 

The law requires neither but you're missing the point. It's still an insurance policy against mechanical repairs. There are years that my health insurance cost more than the benefits I received. I still choose to have it. The same is true of the extended warranty. It's a choice you make. If you have no repairs after the warranty period, you're glad you didn't waste your money on the warranty. If your transmission needs to be replaced, you kick yourself for not getting it. It's a personal choice.

 

I've had my Fit for two weeks and bought it because of that Honda quality. I've had two warranty items go down in these first two weeks. I'm wondering if that extended warranty is still available?

 

Yes http://www.collegehillshonda.com/hondacare/warranty.htm

 

I'm still looking around for best/easiest pricing from a local honda dealers. I'm happy if they make a little with not much work.
Just sticking my nose in:
If I couldn't afford the comprehensive insurance, I'd go back to driving cars not worth insuring.

I wouldn't finance the car if I was not going to carry comprehensive insurance. If I didn't feel like I needed the comprehensive insurance, I certainly wouldn't need to finance the car.