Well, an extended warranty is basically an insurance policy. You're basically betting them $X that your car is going to break within the extended period and they're betting that it's not.

With that in mind, can you imagine buying a 20 year term life insurance policy and then returning it after 19 years because you didn't die?

 

[QUOTE]Originally posted by TFota:
[B] Well, an extended warranty is basically an insurance policy.

 

I'm guessing not.

 

Yes, you can cash out! It is pro-rated based upon your claims history.

No or low claims = Much better reimbursement.

Simple.

 

[QUOTE]Originally posted by honda_s2k:
[B]Yes, you can cash out! It is pro-rated based upon your claims history.

No or low claims = Much better

 

Try it. Couldn't hurt. I bought the 100K extended warranty for the wife's Accord V6 from the toll free line. As long as the car is still below the original warranty they will sell it. I probably didn't do so good, but even if it looses a stereo, air conditioning compressor, or computer, I'm ahead. Interesting thing is, they just ask the existing mileage. I could have had 40K on it. They wouldn't know. I actually had 35.5K on it.

 

just a reminder... if you have a hondacare warranty... they are required to give you a rental, if the repairs go overnight. By the way bought my 7yr/100k/$0 at Freeman for $1105.00, I purchased the higher mileage in case I really enjoy driving the car... seemed like a sure bet.

 

Extended warranties usually have a refund policy, at least when you sell the vehicle. I have usually gotten a refund when I traded in my car and it would be based on some kind of proration schedule. When I sold my wife's '98 V-6 coupe we transferred the warrranty to the new owner as part of the deal. On previous cars I simply cashed it in.

 

Some auto insurance companies offer extended warranties for mechanical breakdown. The coverage usually includes parts and labor at the dealer. Geico Direct will add the coverage to their policy for about $7.00 per month. The coverage must be purchased when the vehicle is new and goes into effect when the factory warranty expires. The extended coverage is good for 100 K miles with a $500.00 deductible. Of course if you get dumped by your insurance provider you are out of luck. Drive safely...

 

Isn't it true that your HondaCare extended warranty's term, e.g. 7 yr/100K mi, becomes effective the day you buy your car, which means you're getting "double warranty" during the first 3 years or 36K miles. And in actuality, you're only getting 4 years and 64K miles of protection. Why are you so crazy about this kind of extended warranty? Am I missing something here?