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Discussion Starter #1
When I bought the car [yesterday]--I turned it down! Cost = $995.00 Bucks.

Is this a good deal? Did most of you opt for or against it? I'm thinking of returning to the dealership tomorrow to get it? Good Plan or Costly Mistake? TIA,

Ty-K
 

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I would also be interested in what others are did as I will be talking numbers next week. Currently, I don't plan on getting it just because it seems like Hondas do pretty well over time and if they are going to be a lemon it would occur during the base warranty.
 

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Capt'n Jack
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It's a personal decision. Plan on keeping it for over 3 years? What type of mods are you looking at? I personally don't buy extended warranties for my cars because I trade em in every 3 or 4 years.. A lot of variables. Nothing wrong with buying it, but something you have to wiegh based on your situation..
 

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I bought one for mine knowing full well it would never be modded as far as my Mustang would be. The cost was less than the replacement of the navigation head unit much less any of the hybrid equipment.

Sent from my DROID RAZR using Tapatalk 2
 

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You need to really look at the policy and see what's covered and not covered , deductibles and how many miles you drive ect . You have a 5/60 powertrain warranty and 8/80 hybrid battery warranty , those cover your most expensive parts already . In you live in a CARB state it's 10/150 . Personally if I thought this car would need an extra warranty I wouldn't have bought it . It's reliability was a major factor in buying . Your basically paying a grand for an extra year of warranty minus any deductibles or exclusions . Also not sure if it's the same in a non CARB state but the CARB state warranty covers anything relating to emissions for ridiculously long times Not just battery but the IMA , Also plugs , coils , gas tank ect ect . The warranty may be somewhat similar in you case , you need to check your warranty book before you plunk down a grand .
 

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Discussion Starter #6
Well, being 67, I can say that until now, I HAVE NEVER BOUGHT THE EXTENDED WARRANTY on any car/truck/motorcycle I've ever purchased. B-U-T, technology has become a b!tch these past few years. Parts used to be simple & cheap to replace--not so now. The finance guy at the dealership showed me a BRAKE MODULE (fit in his hand) & said if this goes out, you're looking at $1,200 bucks to replace it. A freakin' brake module. When did brakes start having friggin' modules? Alas, I digress. My point is that with today's technology, it might just be worth $1 thousand bucks since I do plan keeping Kristine a l-o-n-g time. Anyhoo, that's my 2 cents worth. Always happy hearing other/alternate points-of-view. Bring 'em on--please! Thanks in Advance....
 

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Weren't you a little suspicious that a finance guy would have a brake module in his desk to put a scare into customers? They will sell you sand on a beach if you let them.
 

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I have a 8-year bumper-to-bumper warranty, but I am very tempted to get a (prorated) return because I can accept the risk of things breaking with the car paid off and all. Also, warranties are for people who have no intentions of modding their vehicles whatsoever. I, on the other hand, am interested in adding a rear-view camera and in-dash navigation system.

Looking back at it, I don't know what the heck I was thinking buying the warranty. I did it per my Dad's advice (he owns a performance shop in Houston) and I probably fell for the scare tactic that is placing a piece of complex electronic hardware on the desk.

So it boils down to two things: How much risk you can accept after you've owned your vehicle for three years (when the factory bumper-to-bumper warranty expires) and whether you intend on modifying your vehicle.
 

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Discussion Starter #9
All good/great points, guys....I like hearing all this--so I can make an INFORMED decision!!
Dunno how much RISK I'm willing to absorb after the 36mo/36k miles--but I do not plan modding it in the respect some mention. No backup camera, no engine mods, etc. I may accessorize somewhat--but I'm assuming that doesn't matter, either way.

At this time, I plan keeping her 8-to-10 years, if all goes well--and she's never a problem. It's not only the extra 3 years but, more importantly, the 100,000 miles. I plan driving the hell outta her & reaching close to 100k miles by or before 6-years.

It seems going from 36k miles to 100k miles makes a difference in my decision! Is my logic valid in this regard?
 

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Although ABS brake modulator could fail, you still would have shelled out almost the full cost by buying the warranty. I would only worry about the most expensive parts like the powertrain . A new CVT lists at near 9k , over 6k discounted. So i guess it depends )4how much an extra year of peace of mind is worth. A 6/100 warranty isnt much IMO , you need more like an 8/150 for any real comfort,.
 

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Discussion Starter #11
A sincere THANKS for everyone's input:thumbsup:
Guess I need to think on this important a tad more before I "give away" my money!
 

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Capt'n Jack
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All good/great points, guys....I like hearing all this--so I can make an INFORMED decision!!
Dunno how much RISK I'm willing to absorb after the 36mo/36k miles--but I do not plan modding it in the respect some mention. No backup camera, no engine mods, etc. I may accessorize somewhat--but I'm assuming that doesn't matter, either way.

At this time, I plan keeping her 8-to-10 years, if all goes well--and she's never a problem. It's not only the extra 3 years but, more importantly, the 100,000 miles. I plan driving the hell outta her & reaching close to 100k miles by or before 6-years.

It seems going from 36k miles to 100k miles makes a difference in my decision! Is my logic valid in this regard?
Each dealer seems to use different extended warranty products. If you gonna keep it over 100K miles and 8 years - an extended warranty that the Honda service department will honor might be a good way to go.. Some warranties are partially refundable when/if you trade it in (if you did not have to use it)..
 

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Each dealer seems to use different extended warranty products. If you gonna keep it over 100K miles and 8 years - an extended warranty that the Honda service department will honor might be a good way to go.. Some warranties are partially refundable when/if you trade it in (if you did not have to use it)..
Good points, Scotty. Don't forget, TytaniumK, you are dealing with an insurance company (basically), for the warranty. That company still needs to be in business in 5-6 years, for your coverage to work. Meanwhile, it is useful to remember that they are in the business of making money, so obviously, their actuaries say the odds are that the average CR-Z won't need that much in repairs. Whether you are in for more repairs than the average, is the fear they play on. And, if you feel you got a lemmon, you have the option of selling it before the manufacturer's warranty expires.

Whatever you look at, be sure to read and understand the fine print. There will be a listing of things that are not covered, and the extent of that surprised me when I saw it. I had no intention of buying the extended coverage, but the business manager wouldn't let me out until he read his script LOL. And it was interesting, albeit time consuming.
 

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Capt'n Jack
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Good points, Scotty. Don't forget, TytaniumK, you are dealing with an insurance company (basically), for the warranty. That company still needs to be in business in 5-6 years, for your coverage to work. Meanwhile, it is useful to remember that they are in the business of making money, so obviously, their actuaries say the odds are that the average CR-Z won't need that much in repairs. Whether you are in for more repairs than the average, is the fear they play on. And, if you feel you got a lemmon, you have the option of selling it before the manufacturer's warranty expires.

Whatever you look at, be sure to read and understand the fine print. There will be a listing of things that are not covered, and the extent of that surprised me when I saw it. I had no intention of buying the extended coverage, but the business manager wouldn't let me out until he read his script LOL. And it was interesting, albeit time consuming.
Also all revelent good points.. And I hate the damn business managers - aka close out guys with all the after hard sale crap.. Think your done and then hafta go through the stuff the dealer makes the most money on..

With that in mind. I did buy a warranty on the wife's car which is our car (AWD) for snow and bad weather.. Normally keep her car longer than mine which is her car in great weather.. Wait, how does that work.. lol.. We both enjoy my 3-4 year new cars. Anyway - traded it in and got a refund check about half of the 1400 extended warranty check.. Still lost 700 dollars or so since I didn't use it. But, I guess it had a certain amount of "Peace of mind" value associated with it.
 

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I wouldn't do it. You're not going to run into major problems, if you do on Hondas which happens but not the norm, until well after 6 years 100K miles. I kept my Infiniti for 11 years and kept a spreadsheet on all the maintenance done on the car and associated costs. I definitely saw a trend in my maintenance. These cars are good for 60K miles with the usual oil/filter changes. After that point you're potentially looking at brake jobs, rusted exhausts, rusted heat shields, suspension components, etc. All things that add up to big bucks in parts and labor if you go through the dealer. And this is just normal wear and tear. I'd save that $1000 and use it towards long term maintenance which the warranty time period doesn't cover and wouldn't be covered by warranty anyway.

That experience made me an advocate of keeping a car for no longer than 6 years so that you can get some equity back on it when you resell/trade it in. I'm also an advocate of leasing, although I purchased my CRZ b/c the leases on this are ridiculous.
 

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Discussion Starter #16
I wouldn't do it. You're not going to run into major problems, if you do on Hondas which happens but not the norm, until well after 6 years 100K miles. I kept my Infiniti for 11 years and kept a spreadsheet on all the maintenance done on the car and associated costs. I definitely saw a trend in my maintenance. These cars are good for 60K miles with the usual oil/filter changes. After that point you're potentially looking at brake jobs, rusted exhausts, rusted heat shields, suspension components, etc. All things that add up to big bucks in parts and labor if you go through the dealer. And this is just normal wear and tear. I'd save that $1000 and use it towards long term maintenance which the warranty time period doesn't cover and wouldn't be covered by warranty anyway.

That experience made me an advocate of keeping a car for no longer than 6 years so that you can get some equity back on it when you resell/trade it in. I'm also an advocate of leasing, although I purchased my CRZ b/c the leases on this are ridiculous.
ALL great points from you, Scotty, and others--thanks a heap. Hell, the 8-yr-old Dodge RAM I traded in was still 500 miles shy of 55,000 miles--a 2004 that I babied the 6-yrs I owned her. Never a major problem. I'm thinkin you guys are gonna save me $1,000 bucks. I smell more accessories...LOL Thanks again, Ty-K
 

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... I'm thinkin you guys are gonna save me $1,000 bucks. I smell more accessories...LOL Thanks again, Ty-K
Now you're talking! Although hanging around this board will probably wind up COSTING you more in the long run. :pP:
 

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I traded in a 1996 Accord I bought new when I got my CR-Z. I told the finance guy what I told the finance guy in 1996: "If I thought I needed the extended warranty, I wouldn't be buying this car". But that's just me. I think you'll get over your new car worries soon, and hopefully you'll just be enjoying your new CR-Z :thumbsup:.
 

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My last car was a Honda Civic Executive which I owned for five and a half years, nothing broke and the car was boringly reliable.

The car before that was also a Honda and before that 2 more Jap cars.

Nothing ever went wrong or broke.

So when I was offered an extended warranty on my Zed I turned it down flat.
 

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Well here is my 2 cents. I have listed all the Honda's that I have owned, the milage and $ spent on repairs.

73 Civic 84K $150 for a water pump
76 Civic 123K
80 Civic 102K
85 Accord 106K
90 Accord 92K
94 Accord 95K
94 Civic 67K (lease)
98 Accord 86K
98 CRV 74K
04 Acura TSX 114K $465 for an alternator
11 CR-Z 9K

So as you can see even if I have a huge repair in the future I will be ahead. However, just like the stock market past results may not represent future results.
 
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