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Extended warranty woes

3K views 19 replies 17 participants last post by  Keyman272 
#1 ·
Seven years ago today,the wife and I stopped at Heartland Honda to look at motorcycles.
She had long been pushing for a Gold Wing,but I was not so sure,liked the big cruisers myself.
The salesman offered a test ride on an '07 demo,and she and I took it for a spin down the interstate and went back,told the salesman we would think about it.
We had lunch,she really wanted it,me not so sure,but we went back and bought it.
As we were going thru the paper work process,they were really pushing for the extended warranty,and pre-paid maintenance plan,
which I refused,because I didn't think I was going to keep it very long.
As I made the 80 mile ride home,I thought,well,this ain't so bad after all!
I really got to like the bike,and thought about the warranty from time to time,but forgot to get it before the initial warranty ran out.
Now after 7 years of ownership,I have spent less than $50 on repairs other than maintenance.
Lucky?or typical?
 
#3 ·
Probalby typical, but it only takes one transmission repair or ADG for the extended warranty to pay for itself.
I have had four of these bikes and have bought the extended warranty on all four. The first was a 2003 and 2 repairs on it more than paid for the cost of the warranty on all four bikes.
None of the other three have had any issues.

Now, with that said, for what you wrote, about "extended warranty, and pre-paid maintenance plan" I have to wonder if what they were trying to sell you was even the Honda policy. Many of those are not worth the paper they are printed on, and walking away may have been the right thing.

7 years and only spent $50.00 on repairs you are darn lucky.

Front fork seals and or the Rear shock replacement would cost you more than that.

Fork seals and shocks are considered wear items and wouldn't be covered by extended warranty anyway.
 
#4 ·
Bit of both I suspect. Extended warranties on any product are a source of major profit for dealers since most people don't end up paying that amount for repairs over that same length of time. On some things it pays; on others not so much. A lot depends upon your comfort level with paying for repairs when needed versus the sense of comfort you feel paying for the extended warranty.

I personally pick and choose. I usually buy them on laptops and other hard to repair items and they have paid off big time several times. Other things I paid for the extended warranty (such as on several cameras) and ended up simply losing the money. It's a crap shoot !

On the Wing, I didn't have that option so the question for me is academic. But if I had, I would question how long I intend to keep the bike versus the cost of the extended warranty. Wing repairs can be costly due to the labour involved in disassembling things ($2500 to pull the engine). On the other hand, how often would that ever by necessary....

Tough question, but your call totally....
 
#6 ·
7 years and only spent $50.00 on repairs you are darn lucky.

Front fork seals and or the Rear shock replacement would cost you more than that.

that money was spent on fork seals,which I replaced myself.Some folks have had them replaced under warranty,and some have been denied.

As for the warranty offered,it was Honda.The prepaid maintenance was the dealership itself,not good anywhere else.is what I gathered.
I do my own work on my motorcycles,so if you have to take it to a dealership,of course you would have to spend more.
 
#8 ·
Fork seals

Probalby typical, but it only takes one transmission repair or ADG for the extended warranty to pay for itself.
I have had four of these bikes and have bought the extended warranty on all four. The first was a 2003 and 2 repairs on it more than paid for the cost of the warranty on all four bikes.
None of the other three have had any issues.

Now, with that said, for what you wrote, about "extended warranty, and pre-paid maintenance plan" I have to wonder if what they were trying to sell you was even the Honda policy. Many of those are not worth the paper they are printed on, and walking away may have been the right thing.



Fork seals and shocks are considered wear items and wouldn't be covered by extended warranty anyway.

I've the fork seals on both sides replace under warranty, each at a different shop.
 
#10 ·
Now after 7 years of ownership,I have spent less than $50 on repairs other than maintenance.
Lucky?or typical?
Typical for a BMW owner :joke:


They are the only owners I've run across that typically measure their motorcycle's reliability by the number of years they have owned it rather than the number of miles they have traveled. "I've had my RT1200 for six years and it never let me down!"

Pretty silly statement without knowing if he rode 100,000 miles in those six years or 22,000 miles....
 
#11 ·
I bought the extended warrantee and used it for absolutely nothing in 58,000 miles. The only warrantee repair I received was the little 15 cent plastic part that secures the left saddlebag latch and that was during the original warantee period. Oh well, I got seven years of piece of mind to offset all the fear generated by this site.
 
#12 ·
Extended warranties, in house financing, in house insurance are huge profit margins for almost all vehicles including autos, boats, atv, etc. While they can be good they will cost you more money normally than you can buy on your own. This is why dealers push their financing dept. and force you to sit with an F&I person to complete deal.

That said, it's not all bad and any dealer has to make a profit to stay in business so they use every opportunity to add a few bucks to the bottom line. One of the biggest profit makers are the special "paint protection" packages which are high cost and generate upwards of 50% pure profit.

As usual, buyer beware. YMMV.
 
#13 ·
I don't get why you called it "woes"..??
.. Either by superior logic or luck, you made the best possible decision.

..just me I guess, but I would have titled this post
"Extended Warranty, YAY!!'

Happy 4th !!

Dennis
 
#14 ·
You rolled the dice and were lucky. The wing is pretty reliable, but anything made by man can and will break. Extended warranties are just like insurance, if you have it and something happens, you're good to go. If you don't have it and something happens, hello empty billfold. I bought one when my bike was new with the thought that I did not want to tear this motor apart and the rates at the local dealer were crazy. I got it pretty cheap from HDL and a rebate, but never used it, but the piece of mind I had for those 7 years was worth the $305. JMHO
 
#15 ·
Statistically you'll be money ahead not to buy the extended warranty (after all they don't sell them to lose money; the premiums for those that don't use it pay for the repairs for those that do, the administration costs of the program and the profit for their efforts).

That said, if the premium gives you enough additional piece of mind, then why not?
 
#16 ·
Typical for a BMW owner :joke:


They are the only owners I've run across that typically measure their motorcycle's reliability by the number of years they have owned it rather than the number of miles they have traveled. "I've had my RT1200 for six years and it never let me down!"

Pretty silly statement without knowing if he rode 100,000 miles in those six years or 22,000 miles....
Bike has 46,000 on it.I had some health issues for a couple of years,and didn't get to ride much.
 
#18 ·
I've the fork seals on both sides replace under warranty, each at a different shop.
My fork seals were replaced under the extended warranty also.
thecruiser
 
#19 ·
No extended warranty, 73,000 miles, 4 1/2 years old and $0 spent on repairs. There is a reason they push extended warranties...they make money on them, a lot of money. That being said, if I could have bought it for $300 I would have. Peace of mind would have been worth it for me.
 
#20 ·
You also need to consider how many miles you plan to put on your wing. The unlimited mileage part of the extended warrantee is a Huge factor in some cases. I had 225K miles when I traded my 07 in April 2013 and now have 58k on my '12 in 15 months so I will definitely be looking to extend my warrantee before the factory one runs out. And like someone said earlier, the next owner will appreciate having it. :coffee1:
 
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