When is it worth purchasing an extended warranty on a used vehicle?

Art wrote:
> I purchased a Honda 8 year 120k extended warranty with zero deductible for
> my 2006 Odyssey. It cost about a grand. For one thing the van has a ton of
> bells and whistles. For the other, it is likely that I will sell it in year
> 7 and being able to sell it with a 1 year warranty should make it very easy
> to sell privately.

It should be very easy to sell privately without the insurance
(warranty). Plus, if the van is wrecked or stolen, the insurance is
useless. And, if you put the money in the stock market at 8% return,
you'd have about $1600 at the end of 7 years.

> "Ray O" <rokigawaATtristarassociatesDOTcom> wrote in message
> . ..
>> > wrote in message
>> ...
>>> Is it ever worth purchasing an extended warranty on a used vehicle
>>> that is relatively reliable (toyota, honda, etc.)?
>> It is rarely worth purchasing an extended warranty on a used vehicle. Put
>> the cost of the extended warranty into a separate bank account and draw
>> from it for repairs to the car if necessary.
>> --
>>
>> Ray O
>> (correct punctuation to reply)
>>
>
>

They wouldn't sell extended warranties if they didn't make money on
them. Use that one fact and decide for yourself if they are worth it.

Jack

On Tue, 18 Mar 2008 21:40:25 -0700 (PDT),
wrote:

>Is it ever worth purchasing an extended warranty on a used vehicle
>that is relatively reliable (toyota, honda, etc.)?

Hey Art, I am "sort of" thinking of it also - we've an 05 Avalon (21k) and
08 Highlander (10k) - extended Toyota Platinum from Keith at Midwestmotors
(7/75) is 619 for Avalon and 559 for the Highlander, under 1200 for both.
Either Toys are better or Honda after your shorthairs.
My reasoning on even considering it is that I am damned near 70 and just
don't want to worry and 300/year is pretty cheap for minimal worries. I
hope Ray agrees at these prices! By the way, thanks to Fed, CD's and money
markets are maybe 3.6 here in Ca. So the 1200 would earn me maybe 200 bucks
for the 4 years extension (well maybe 50 more for the Highlander 2 years)!
Ron in Ca.


"Art" > wrote in message
...
>I purchased a Honda 8 year 120k extended warranty with zero deductible for
>my 2006 Odyssey. It cost about a grand. For one thing the van has a ton of
>bells and whistles. For the other, it is likely that I will sell it in
>year 7 and being able to sell it with a 1 year warranty should make it very
>easy to sell privately.
>
>
>
> "Ray O" <rokigawaATtristarassociatesDOTcom> wrote in message
> . ..
>>
>> > wrote in message
>> ...
>>> Is it ever worth purchasing an extended warranty on a used vehicle
>>> that is relatively reliable (toyota, honda, etc.)?
>>
>> It is rarely worth purchasing an extended warranty on a used vehicle.
>> Put the cost of the extended warranty into a separate bank account and
>> draw from it for repairs to the car if necessary.
>> --
>>
>> Ray O
>> (correct punctuation to reply)
>>
>
>

On Mar 19, 10:46*am, "tommy" > wrote:
> "Piso Mojado" <floormop@bucket> wrote in message
>
> ...> > wrote in message
> ...
> >> Is it ever worth purchasing an extended warranty on a used vehicle
> >> that is relatively reliable (toyota, honda, etc.)?
>
> > No.
>
> Maybe IF you have the option in the 3rd year - by then you'll know IF you
> need it - otherwise I agree

yeah, exactly; if you can see you're absolutely going to use it.

from the experience of others who have bought one (even on a new car)
when it came time to make a claim, they will argue you to death.

Make sure it is a factory warranty in any case. 3rd parties could be out of
business when you need them.


"ron" > wrote in message
...
> Hey Art, I am "sort of" thinking of it also - we've an 05 Avalon (21k) and
> 08 Highlander (10k) - extended Toyota Platinum from Keith at Midwestmotors
> (7/75) is 619 for Avalon and 559 for the Highlander, under 1200 for both.
> Either Toys are better or Honda after your shorthairs.
> My reasoning on even considering it is that I am damned near 70 and just
> don't want to worry and 300/year is pretty cheap for minimal worries. I
> hope Ray agrees at these prices! By the way, thanks to Fed, CD's and
> money markets are maybe 3.6 here in Ca. So the 1200 would earn me maybe
> 200 bucks for the 4 years extension (well maybe 50 more for the Highlander
> 2 years)!
> Ron in Ca.
>
>
> "Art" > wrote in message
> ...
>>I purchased a Honda 8 year 120k extended warranty with zero deductible for
>>my 2006 Odyssey. It cost about a grand. For one thing the van has a ton
>>of bells and whistles. For the other, it is likely that I will sell it in
>>year 7 and being able to sell it with a 1 year warranty should make it
>>very easy to sell privately.
>>
>>
>>
>> "Ray O" <rokigawaATtristarassociatesDOTcom> wrote in message
>> . ..
>>>
>>> > wrote in message
>>> ...
>>>> Is it ever worth purchasing an extended warranty on a used vehicle
>>>> that is relatively reliable (toyota, honda, etc.)?
>>>
>>> It is rarely worth purchasing an extended warranty on a used vehicle.
>>> Put the cost of the extended warranty into a separate bank account and
>>> draw from it for repairs to the car if necessary.
>>> --
>>>
>>> Ray O
>>> (correct punctuation to reply)
>>>
>>
>>
>

They wouldn't sell cars if they didn't make money on them........


"Retired VIP" > wrote in message
...
> They wouldn't sell extended warranties if they didn't make money on
> them. Use that one fact and decide for yourself if they are worth it.
>
> Jack
>
> On Tue, 18 Mar 2008 21:40:25 -0700 (PDT),
> wrote:
>
>>Is it ever worth purchasing an extended warranty on a used vehicle
>>that is relatively reliable (toyota, honda, etc.)?

I generally don't buy extended warranty but I bought a 4 year old 4 door
civic (2002) that had been returned from a 4 year lease. Dealer offered an
extra 1 year warranty making a total 6 years covered. I paid $500 for the
warranty. In the End, Honda changed the automatic transmission twice, and 3
suspension components parts that were worth around $300 excluding labour. In
my case, $500 was definitely worth it as everything happened to me around
3-4 months after the standard 5 year warranty was over.

"trailer" > wrote in message
news:3SaEj.7359$%Y2.880@trnddc08...
> If the vehicle has a lot of bells and whistles it might be worth
> considering an extended warranty.
>
> My last car was a Ford and the warranty just about paid for itself in
> repairs.
>
> I just purchased a Honda with Navigation and a few other options. I did
> get
> the extended warranty, but I debate every day if it was worth the extra
> cost
> because of Honda reliability.
>
> However, the 99 Accord I had purchased used had the ECM fail and the
> warranty paid for it.
>
> Consumer Reports usually votes against them.
> > wrote in message
> ...
> Is it ever worth purchasing an extended warranty on a used vehicle
> that is relatively reliable (toyota, honda, etc.)?
>
>
>

"Frank" > wrote in message
...
>I generally don't buy extended warranty but I bought a 4 year old 4 door
>civic (2002) that had been returned from a 4 year lease. Dealer offered an
>extra 1 year warranty making a total 6 years covered. I paid $500 for the
>warranty. In the End, Honda changed the automatic transmission twice, and 3
>suspension components parts that were worth around $300 excluding labour.
>In my case, $500 was definitely worth it as everything happened to me
>around 3-4 months after the standard 5 year warranty was over.

With Hondas, you did the wise thing.


>
> "trailer" > wrote in message
> news:3SaEj.7359$%Y2.880@trnddc08...
>> If the vehicle has a lot of bells and whistles it might be worth
>> considering an extended warranty.
>>
>> My last car was a Ford and the warranty just about paid for itself in
>> repairs.
>>
>> I just purchased a Honda with Navigation and a few other options. I did
>> get
>> the extended warranty, but I debate every day if it was worth the extra
>> cost
>> because of Honda reliability.
>>
>> However, the 99 Accord I had purchased used had the ECM fail and the
>> warranty paid for it.
>>
>> Consumer Reports usually votes against them.
>> > wrote in message
>> ...
>> Is it ever worth purchasing an extended warranty on a used vehicle
>> that is relatively reliable (toyota, honda, etc.)?
>>
>>
>>
>
>