I was at a Car Max today looking at a 2007 model with just under 54k miles. They offered their "MaxCare" which is basically an extended service/ warranty which covers bumper to bumper mechanical problems. Excludes normal maintenance and some other things. It is an extra $1,689 with a $250 deductible per visit and covers up to 100,000 miles or 72 months whichever comes first. The sales person said I can take it anywhere to have it serviced and it would be covered. Doesn't have to be at specific shops. With a 60 month term it comes out to around $30 extra per month. It sounds great and all but I know all sales people will make anything they sell sound great. It's a Honda so reliability is a given and as long as I keep up with the regular maintenance I shouldn't have any major problems...right? The only thing I can think of where this would help is if the differential blows out or a loose axle nut causes problems. But if I don't thrash and beat on the car those shouldn't be a problem either...right?

Another thing they offered is GAP insurance. For those that don't know GAP insurance is specifically for if you were to total the car while you still owe the lender money. Your regular insurance company pays for the value of the car and if (usually most cases) you owe more than it is worth, the GAP insurance pays that gap. That is an extra $349 and it covers the entire length of the loan and it comes out to about $7 more per month.

What are you guy's opinions on these two programs?

 

You didn't mention how many miles on the car, only that its on 07.

anyways, i'd pass on it, nothing really breaks on these cars besides self induced damage (ie, over rev from misshift, dif from doing hard launches, lack of oil from not checking every gas up). And all of these problems won't be covered under your warranty since you would have caused them. You mentioned a broken dif, but the insurance will claim you did that so it won't be covered

 

While I don't own an S, I think there is a good rule of thumb to never buy any extras the dealer tries to sell you. My parents got one on a BMW they bought a few years back and it was a total nightmare to get them to pay for the items COVERED under warranty. The ignition coils blew, and they claimed my 56 year old mother was hooning around in her base model 325. Everything after that was a total nightmare as well. Luckily, the warranty came with the car they bought, meaning they didn't pay for it, it was transferred to them when they bought the car. That being said, these optional extras are PURE profit for the dealerships and they will try to brainwash you to think you need it all. Save the money, and 99 times out of 100 you will be richer on the other end. Id conjecture when applied to a Honda, 100 times out of 100.

 

^ I agree, chances are very low that you will have any significant repairs on that car to re-coup your investment in the warranty coverage. The most likely failure might be the softop, but I'm willing to bet the warranty doesn't cover the softop material. Plus that sounds like a pretty high deductible for warranty claims, hardly worth making a claim with that kind of deductible. I'm willing to bet there is a lot of fine print with that warranty.

GAP insurance is a gamble, it might be worth it if you totalled the car under loan conditions but it could turn out to be a waste of money if nothing happens. It depends how risk averse you are. I would probably skip it but that's just me.

Enjoy the ride.

 

The car has just under 54k miles on it. I guess I'll share a little bit more of my experience today. I had the car transferred from another Car Max location and got the call telling me it had arrived on Saturday evening while I was at work. The bank was closed and I didn't have cash or checks so I asked if I can use my debt card and the lady said yes. I didn't think nothing of it and went to check out the car today. I hate to say it but I did have both these plans included. I was ready to pull the trigger on the purchase but was stopped short when I went to pay for the down payment. Like an idiot I didn't take into account that debit cards have a limit. Called customer service and they were closed so I couldn't finish the deal. I was kind of disappointed that I couldn't take the car home but I guess it was a blessing in disguise because now I can take off the extended warranty and GAP insurance.

 

GAP is probably not worth it for a used car. On a new car, sure, but not so much on a used car.

The extended warranty is 50/50. It really depends on how the car checks out when you first get it inspected. I had an extended warranty with my Honda Certified Pre-Owned (CPO) S and only used it once to repair the drivers side softtop latch. It didn't cost me much and I had a bit of piece of mind as I couldn't be sure how well it was maintained before even though it was a CPO Honda. The plan they are selling you is quite alot, so I would first check out my local sub-forum to see if there are other S enthusiasts around that can help you look over the car when you bring it home and make the necessary fixes/upgrades:

https://www.s2ki.com/s2000/topic/775...-a-used-s2000/

 

I say nay on the extra warranty. That $250 deductible kills it. I would check with your insurance for gap insurance. Most carries it and you might actually have it. I wouldn't get any extras from dealers.


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I would say yes to GAP which you should get on your own insurance.

 

the only good that came out of me purchasing the warranty for my RSX, was that i got a fat refund when i traded my car in for the S 5 months later lol.

I didn't buy the warranty for my S because i just didn't see the point in my situation.

 

I extended my CPO warranty to 100k for just $500 when I bought my S2K. Your price seems high and not worth it. Pocket the $1,689 in a separate account and self warranty. My Caddy dealer tried to pull that crap when I bought my used (not CPO) SRX last year. Absolute ripoff to pay for any dealer warranty (as opposed to CPO/factory warranty) or pre-paid service packages. They polish up these turds to make them seem like factory offerings, but they are not.