Looking into purchasing an extended warranty for a S2000 (2000) that I am purchasing from a private owner and wanted some opinions. I spoke with a Honda dealership and they will cover my car for 4 years/48000 miles for $1565 under the Hondacare program. Also, I have seen a lot of warranty companies on the web that seem to cover as much as the Hondacare warranty but are cheaper. Has anyone purchased one of these and had the opportunity to use it. Your input is really appreciated. Thank you

 

If you get a HondaCare, go through HardTopguy.com, his prices are much better. You can also check out this place: http://www.1sourceautowarranty.com/
I've never used it but it sounds pretty decent, its deffinitly worth checking into.

 

I have an extended warranty on my car. Normally, I don't get extended warranties on anything, but for a high-performance car like the S, I felt it was a good idea. Mine is 7 years or 70K miles. In 2001, when I purchased the car, it cost me about $1800.

 

I purchased one from 1source mentioned above when I had my S. Never ended up using it, so I can't comment on how they are to work with, but they did credit back the residual with no hassle when I sold the car.

Something to keep in mind:
I've read that certain warranty companies (like 1source) will not cover a warranteed part if an unwarranted part causes its failure. Yes, this is obvious for aftermarket parts, but there are instances where a "normal" part could cause this as well. I dunno.

1Source was the best deal when I bought; cost me under a thousand for 10yr/100k warranty at 0 deductible. If you "check prices" with them online and then wait a few days, you might get a discount coupon via email as well.

Beyond that, ext. warranties are pretty much a personal choice. Half the responses to this thread will tell you that they're a waste of money. The other half will tell you that they offer a piece of mind. It's up to you to decide who you agree with.

 

a piece of mind = peace of mind?

 

Check out a web site called "Car Buying Tips". They have good info on purchasing new and used cars and go into a lot of details including a section that talks about extended warranties. The two main one's they mentioned are "1 Source Auto" that TalonTSiDude mentioned and "Warranty Direct" which is the company I ultimately went with on my S2000. Both companies offer pretty comprehensive coverages. I got a 7yr/100k/0 deductible exclusionary warranty for about $1,150.00. The exclusionary part means that the contract lists whats "not" covered. Anything else, they'll pay for, and the exclusion list isn't that long. I haven't had a chance to use it yet as my car is still well within the factory warranty. I hope I never need it but it's there nonetheless.

I did some looking around a questioning before purchasing the aftermarket coverage and everyone I talked to about both these companies said that they did Ok. Even my Honda dealer said they've dealt with these companies and confirmed that they hadn't had any problems on their end.

FWIW!

Drive Safe,
Steve R.

 

Thanks guys for your input

 

I bought one from Hardtopguy.

 

I feel the same way. I usually don't buy warranties -- but the S2K is quite an ambitious design and I feel better having the HondaCare warranty. As mentioned above, make sure to check out the prices at hardtopguy.com.

Another consideration is that inflation is almost surely going to pick up from here. That's why Greenspan keeps raising interest rates. Buying the extended warranty allows you to lock in the cost of your warranty against future inflation.

 

I have never spent any where near the cost of a warranty to repair non-wear items on any vehicle I've owned. I've kept 4 of them for more than 100k miles. I'd rather put my money in a bank account and earn interest on it, and it is still available if a major repair ever does come up.