i just picked up my s2k this past
week. loving the car, but am debating
on the 7yr / 100k warranty. i tend
to drive a lot on the weekends [mainly
freeway miles]. and the dealer is
offering it at US$1400 for it. good deal?

 

I purchased a 6yr/72K extended warranty from Honda for $549.00 + Tax. You may want to see if that $1,400.00 is negotiable.
Sounds like a ton of $$ to me. If the price is right, I'd definately get the extended warranty.

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I bought the 7 year / 100,000 mile warranty on my S2000 when it was new - you know, just in case. Its a new car, and not alot of them out there. Parts may be hard to find and expensive, so why not get a warranty.

 

I bought the extended warranty as well, I asked the lady whether they would replace my transmission if I drop it 6 years from now at the track, and she said yes. I was sold, $750 for 7 years total, what a deal. That price is definitely negotiable, I would fight for a really low price, if not just walk out. It is VERY negotiable.

 

check with AAA to see what their Mechanical Breakdown Insurance costs. You can also get extended warranty coverage through some insurance companies like Geico, and if you financed through someone other than Honda Credit, they may offer it too (my credit union does), and aftermarket warranty companies also offer it. $1400 is way too high. Negotiate for it like you do the car, and if its less than $7-800, then I'd consider it.

 

[QUOTE]Originally posted by Siva:
[B]i just picked up my s2k this past
week.

 

It is my opinion that extended service policies are good ways for dealers and insurance companies to make more money. Note that you already have 3yrs and 36k miles from Honda, so any extended warrantee doesn't come into effect until most of the "bugs" have been worked out. Thus, a 7 year plan is really 4 years worth of insurance. Effectively, you are giving your money to the insurance company to hold for 3 years before you gain any substantial benefit. If you are unlucky enough to have an expensive repair during the warrantee coverage period afterthe manufacturer's warrantee ends, then it will be worth it.

Another perspective is that the present cost of a $1000 policy is really more like $1200 (since it isn't in effect for 3 years). Do you think that your car will need $1200 worth of covered repairs during its 3rd to 7th year? Don't include wear items like clutches, tires, brakes, batteries, etc. If so, get the warrantee, if not, save some money.

I'm counting on the S2k to have the same track record of most Hondas and be very reliable. For the record, I never purchase any extended warrantees and think that overall I've been better off.

 

I agree with Joshua EXCEPT that the Honda extended warranty also includes "Honda Care" which is a tripleA type service: roadside help, maps, loaner guaranteed. You get these even during the standard warranty period. So it's not purely a warranty that extends your 3 year 36,000 mile warranty. It also supplements the 3 year / 36,000 mile warranty.

With my current engine problem and with the S2000 being so new and "cutting edge", I hope to buy an extended warranty AT THE RIGHT PRICE.

 

One thing to keep in mind. The warranty does not have to be purchased when you buy the car. You can get it nearer the end of the factory warranty as well. I have purchased these warranties in the past and always looked at them like insurance policies.

Just like insurance, you're betting you'll have a problem and the warranty co. is betting you won't. My wife's '98 Accord coupe's transmission went south at 36,800 miles and Honda wouldn't consider covering it; however, our extended warranty did to the tune of $4,600. In this case, this coverage paid for all the extended warranties we had ever purchased. It is also helpful to remember that many of these warranties are transferable when you sell the vehicle; in addition, every one I've ever bought had a pro-rata provision that let you redeem the warranty when you sold the vehicle to recover the unused portion of the contract in cash.

 

My dealer offered the 7yr/75k mi package for $1000. He also included the written provision that if the warranty claim goes used, then the $1000 is fully refundable. It seems like a reasonable offering.