purchase an extended warranty or not?

[zaki-herz]

My 1 year factory warranty for my 2023 DCT model expires in the middle of April and I took the plunge and got the Honda Care extended plan. I find it interesting that you were offered a 4 year warranty - because Honda offers up to 5 years. I wonder if the warranty the dealer is trying to sell you is from Honda or a third party. Honda will send you an offer in the mail in a few months and several more as you get closer to the end of your warranty. To go with the Honda warranty you have time - as long as your current warranty is valid you can extend it.

I have a buddy with a Goldwing and while he did not get the extended warranty for his machine he told me there was a dealer out there who offered a discount. Sure enough there is. Below I'll paste an email I got from Blue Ridge Powersports in VA (I have no relationship with them other than buying the warranty through them last week). Based on this you can get 5 years w/ roadside from Honda for less than your dealer is offering you for four (again - not sure if dealer is offering you Honda). My dealer has never approached me about extending my warranty and it blows my mind that other dealers apparently aren't competing on price....

In my one year (and it's a short season where I live - April to early Nov) I've ridden 7500 miles. The only issue I've had is occasionally the dct won't go into first after starting up and occasionally won't go into neutral when it's time to shut down. It has always resolved itself after turning the bike off, but I'm not the only one who had the issue, and there is a thread on here about that and it makes me nervous. I've had warranties for my 2 Yamahas bought new and never used it and many here dismiss them. The goal of all insurance companies is to not spend a dime on claims. Like me I'm sure many here spend thousands on vehicle and homeowner's insurance and never make a claim. Given the price I paid I'm comfortable going for it.

This is interesting, I heard about an issue with DCT burning the clutch if one rides at low speed, and now you mention the case of shifting, wouldn't these render a consideration for purchasing an extended coverage? The other good point you bring is the possibility of shopping from different venues!

 

[670cc]

Surprisingly, the dealership did not push hard on selling the coverage, and did not offer the maintenance service package. I do the oil change myself, but the business of chain care is new to me, my pervious bike was a shaft drive.

Drive chain care is an on-going, relatively frequent maintenance task. I can’t imagine taking the bike to a dealer every time a chain needs lube or adjustment. An owner of a chain drive motorcycle probably needs to learn to take care of it themselves. Personally, I think chain drive is archaic, dirty, high maintenance, and has short lived components. I’m surprised it is still utilized on modern motorcycles. However, to enjoy the other good attributes of the NC, I have to put up with it’s chain.

 

[zaki-herz]

170 bucks a year, presuming it extends your warranty to 5 years is not that bad presuming it is a zero deductible warranty through Honda. I know that a major repair is something I no longer wish to engage in on either my motorcycles or my cars. I have the skills for the most part; I just don’t want to do it anymore. I purchased the BMW extended warranty, zero deductible, bumper to bumper, extending coverage to 7 years on my C400GT. If it’s not a wear item it’s covered by BMW with no additional payment. If you don’t have mechanical skills, or don’t wish to work on the bike even if you do, it’s not a bad idea. I never understood the logic of “it’s a moneymaker for the dealer.” That is what dealers do, sell things to make a profit. I owned three restaurants and charged extra for bacon; should I not have? If it offers the peace of mind you are looking for it’s a small price to pay. If your ecu or digital screen blows it is also would immediately appear to have been a small price to pay. If you sell the bike it may increase the value too.

very wise advice, ultimately, I am purchasing an insurance, and the Q is whether is it worth it or not, and as you stated, even if the covered is not needed for a well-built machine, the peace of mind could be the reward for the cost. And you are right, providers are in the business of offering, and it is the choice of customer to buy or not buy.

 

[zaki-herz]

You are correct; many people spends thousands on vehicle and home insurance. In my lifetime I can only think of 3 claims ever made, and they were small and trivial. Of all the products and services I buy, insurance surely gives me the least in return, monetarily.

I once bought a new Honda for a very good price, because the dealer had made an error in advertising it. They nearly locked me in the finance office trying to sell me an extended warranty, presumably to recover their losses. I didn't back down. I left paying for only the motorcycle. In 6 years it has never had a single problem. Built in Thailand, it is probably the best built motorcycle I ever bought. I can't find a single manufacturing flaw.

One could always cite a single incident or two, or even three where a purchased "warranty" paid off, but averaged over all the vehicles and products purchased over a lifetime, the odds are that "warranty" or service contracts win handsomely, and you lose.

I would have never believed you could put water in a plastic bottle and sell It, but it turns out you can. So, now it doesn’t surprise me that people would pay to insure for unlikely, non-catastrophic, non lifestyle-changing events like broken things on a motorcycle.

point well taken, yes it is an "insurance" which means that you wish that you would not like the opportunity to need it, and if it is for the sake of peace of mind, that alone might justify it. As for the unregulated practice of putting water in PFAS producing plastic bottle and making big business out of it, all that I can say is there are more crazy buyers than crazy sellers.

 

[670cc]

very wise advice, ultimately, I am purchasing an insurance, and the Q is whether is it worth it or not, and as you stated, even if the covered is not needed for a well-built machine, the peace of mind could be the reward for the cost. And you are right, providers are in the business of offering, and it is the choice of customer to buy or not buy.

People often describe warranties and insurance as buying peace of mind. Peace of mind, I guess, is an emotional state. When I use reason, and weigh the costs and benefits of an extended warranty, I would achieve peace of mind from knowing that I saved my money and didn’t buy it. Buying the warranty would cause remorse, a feeling that I threw good money away. As a DIY person, realizing that a dealer or shop needs to do the service on my motorcycle for me to realize any warranty benefits causes great anxiety. I just couldn’t live with it.

By all means, go the route that makes you happy.

 

[670cc]

point well taken, yes it is an "insurance" which means that you wish that you would not like the opportunity to need it, and if it is for the sake of peace of mind, that alone might justify it. As for the unregulated practice of putting water in PFAS producing plastic bottle and making big business out of it, all that I can say is there are more crazy buyers than crazy sellers.

Speaking of “insurance”, I buy insurance mainly to protect assets against catastrophic losses that might force me to change my standard of living. It’s never about the peace, it’s just logical. The unexpected repair of a motorcycle is, for many people, not a catastrophic loss, but perhaps it is for some.

 

[the Ferret]

People often describe warranties and insurance as buying peace of mind. Peace of mind, I guess, is an emotional state. When I use reason, and weigh the costs and benefits of an extended warranty, I would achieve peace of mind from knowing that I saved my money and didn’t buy it. Buying the warranty would cause remorse, a feeling that I threw good money away. As a DIY person, realizing that a dealer or shop needs to do the service on my motorcycle for me to realize any warranty benefits causes great anxiety. I just couldn’t live with it.

By all means, go the route that makes you happy.

I understand the peace of mind thing. I am waffling right now on renewing my AAA membership. I have been a member for 33 years. Only used the towing once,(but have used a lot of maps and trip tiks and use the AAA discount when booking hotels) so my wife suggested we drop it at this point. Knowing that if my bike were to break down I could get a 150 mile tow if necessary, or my wife in her car, or if she would get a flat tire at night in the rain, or run out of gas on a trip, having the AAA insurance gives me some mental comfort. Financially it has probably not been a very good deal, but still I wonder if it's wise not to have it.

 

[670cc]

I understand the peace of mind thing. I am waffling right now on renewing my AAA membership. I have been a member for 33 years. Only used the towing once,(but have used a lot of maps and trip tiks and use the AAA discount when booking hotels) so my wife suggested we drop it at this point. Knowing that if my bike were to break down I could get a 150 mile tow if necessary, or my wife in her car, or if she would get a flat tire at night in the rain, or run out of gas on a trip, having the AAA insurance gives me some mental comfort. Financially it has probably not been a very good deal, but still I wonder if it's wise not to have it.

I haven’t ever run out of gas, that I can recall, in about 50 years of driving. There are ways to prevent that.

A roadside service has provided me a tow once in my lifetime. The service was part of my AMA membership, so I had not paid for it specially. I’ve driven/ridden 1.5 million miles.

 

[7ncx]

Bought my 2012 NC700x in 2015 at 4,400 miles, now with 33,000+ miles only regular maintenance which I do myself including tires, it's been highly reliable. Nearing the end of my six decade over 200,000+ mile riding career and my NC could possible be my last bike. Someone posted about chain maintenance. One of the many reasons I bought my NC is the optional Honda centerstand which makes chain and other maintenance a lot easier, but still a minor hassle lubing the chain. I installed a semi-auto chain oiler, have yet to to see how well it performs.