Extended warranty

[HONDABIKEPRO]

You always role the dice and take your chance, dealers are always working on bikes that we always think there should not have broke. Even new ones, but they do. I am a dealer and have a extended warranty on my nc700x. I bought a new honda rune when they came out. with a three year extended factory warranty, three months after the stock warranty was over the alternator drive went out and did allot of damage. over 4000.00 dollars that was all covered. like i said role the dice. dale

 

[MZ5]

My dealer, Coyote Honda in Avondale, AZ, was running a great extended warranty special when I bought mine. Don't know whether they're still offering it or not. Check Specials COYOTE HONDA AVONDALE, AZ (623) 463-5700 to see whether they're still running it. It was either $400 or $500 at the time for 4 extra years.

 

[TenMidgits]

I would never buy an extended warranty. It is like buying insurance against an unexpected early failure of the motorcycle. In buying the insurance, I would be betting it will break: Honda is betting it won't. But instead I'm going to bet like Honda that it won't break, and "save" the money.

In my opinion, insurance is for protection of major assets and against catastrophic lifestyle changing events, not for every little thing that might go wrong in life.

Greg

This kind of thinking will make your retirement comfortable....
I have never purchased and Extended Warranty on anything and I can tell you after many cars, computers appliances houses, bikes I am waaaaaaaaay ahead. Even considering the repairs I did have to make that would have been covered. Always bet with the house and sleep well. Only insure against catastrophe not inconvenience. In every city the largest skyscrapers are insurance companies and banks....with good reason. for "peace of mind" Xanax is much much cheaper.LOL

Yeah things go wrong but to a very small unlucky group......things go right for small groups too that win lottery's..

 

[johnakay]

I totally agree with TenMidgits . most household products are design to last at least 5 years and I know that as a fact. hence that why the shop offer you 5 year warranty they never offer you 10 do they!
I've question this many times....this 5 year warranty on top of the 1 year warranty? no this is inc . oh so you mean 4 years warranty?..blah blah
I've had 3 new bikes and 2 new car's and I never bothered with extended warranties .
these so called warranties only cover things that are unlikely to go wrong. you read them carefully.
often folks do bother to read,they accept it on face value till they come to claim...sorry your not covered for that sir.
even the ones that are free aren't worth the paper its written on.

 

[turbodieseli4i6]

I bought an extended warranty + breakage, when I bought my 8 year old a Kindle fire. I won on that deal, but I knew my son would wreck it.
I also bought the extended warranty when I got a $600.00 VHS player a long long time ago. DVDs were out and a hell of a lot cheaper before I retired that VHS player.
I lost on that deal.
I play the odds, just like the insurance company's. So far I'm way ahead of the game.
Insurance companies are out to make money, not to help anyone. YMMV

 

[TenMidgits]

I bought an extended warranty + breakage, when I bought my 8 year old a Kindle fire. I won on that deal, but I knew my son would wreck it.
I also bought the extended warranty when I got a $600.00 VHS player a long long time ago. DVDs were out and a hell of a lot cheaper before I retired that VHS player.
I lost on that deal.
I play the odds, just like the insurance company's. So far I'm way ahead of the game.
Insurance companies are out to make money, not to help anyone. YMMV

We too bought our 10 year old a Kindle fire for Christmas. No warranty. We told her If she breaks it, its gone for good. Personal responsibility means someone is not always there to make it right.

 

[MZ5]

I agree with the principle that a person should insure only that which they cannot afford to lose. However, what one cannot afford to lose depends upon one's circumstance. Thus, it can be either smart or less-smart to buy an extended warranty on a vehicle/transportation device/tool for work. I ALWAYS bought the super-warranty on my phones when I was farming, and that insurance ALWAYS was a smart thing for me to buy. I ALWAYS 'beat the house' with that bet, and the phone was a business tool. It was simply cheaper (dramatically cheaper) to buy insurance on that particular tool than it was to buy replacements frequently. Now that I don't farm, I make a different choice. In each circumstance, I'm making the smart choice and am money ahead of the alternative choice.

 

[TenMidgits]

I agree with the principle that a person should insure only that which they cannot afford to lose. However, what one cannot afford to lose depends upon one's circumstance. Thus, it can be either smart or less-smart to buy an extended warranty on a vehicle/transportation device/tool for work. I ALWAYS bought the super-warranty on my phones when I was farming, and that insurance ALWAYS was a smart thing for me to buy. I ALWAYS 'beat the house' with that bet, and the phone was a business tool. It was simply cheaper (dramatically cheaper) to buy insurance on that particular tool than it was to buy replacements frequently. Now that I don't farm, I make a different choice. In each circumstance, I'm making the smart choice and am money ahead of the alternative choice.

LOL Well I really take chances in the cell phone department. I use my ATT upgrades to buy and sell high end US phones and use that money to buy the International versions and stay on ATTs dumb phone family plan. Our Bill for an I9100 SGS II and my Note 2 N7100 and an International Galaxy P3100 Tab 2 7 Tablet (which has phone capabilities) I share a SIM with it.

Total cost $89 plus tax a month for 700 minutes, pay per message, (we never use $20 worth of messaging) and unlimited data and have 2000 minutes in the roll over. Adding messaging would be another $240 a year. But we use Go SMS and Facebook messaging.

Savings? $80 a month plus taxes = nearly $1000 a year. Risks? NO warranty on any device. Been doing this since selling a couple of upgrade $299 Apple 3GS for $1400 on Ebay and buying a couple International Samsung Vibrants. Then doing the same with the SGS II. and more recently I upgraded for the Note 2 and sold it for $500 and bought an N7100 for $600. We still have an upgrade to burn as the wife does not want another phone and likes the SGS II.

ATT has no idea what kind of phones we use as the IMEI numbers of International devices are not registerd in the ATT US data base so they can only put in "feature phone" in the system.
WE have saved well over $2000 since we started doing this. More than enough to buy new phones should they fail.....None has.
Downside. We don't get US 4G But its not available her for another year or two anyway.

 

[MZ5]

That's nicely done, I suppose, but it seems you have either missed or ignored the point. I'm not competing to see who can 'save' the most money. I was simply illustrating the implications of making overly broad generalizations.

 

[TenMidgits]

That's nicely done, I suppose, but it seems you have either missed or ignored the point. I'm not competing to see who can 'save' the most money. I was simply illustrating the implications of making overly broad generalizations.

I understand what you are saying about generalizations but it IS generally accepted by most consumer advocates and finacial gurus Extended warranties are not a prudent use of money.

"We have long advised that extended warranties are a poor deal for almost every product," -Consumer Reports,

Earth to consumers: extended warranties are a bad deal

Stay away from extended warranties – Consumer Tips - CNN.com Blogs

Top Extended warranties | Extended warranty Buying Guide – Consumer Reports

Not Just the Scams: All Extended Auto Warranties Are a Bad Deal - CBS News


If one stays away from all of them they will always come out ahead. If I thought I was going to drop my notebook or portable devices I would buy a warranty. I am typing on a refurb Dell M11X I did not buy a warranty for and would not have used it. I do believe generally speaking Extended warranties are a waste of money. Most people buy them for "peace of mind"

Fear sells a lot of needless things. As a rider I ride without a helmet and gear. I get on my bike with whatever I am wearing that day. I don't fear having a get off. Don't even think about it. I stay aware and just ride as if its a bicycle in a big park as I have for over 30 years.

I buy MANDATED insurances and catastrophic insurances. I don't cover $600 items. Their intrinsic value drops so fast, replacements are usually a better bet after the initial manufacturers warranty period anyway. As far as my bike goes. If I cannot afford $1000 to fix it should something go wrong I should not be riding an $8000 bike. But that's just me.