Extended Warranty on New Purchase

[Pikkleballer]

We picked up our new 2018 Canyon Star about three weeks ago.
We were presented with an extended warranty offer at delivery but did not take advantage of it at that time but rather opted to think about and try and gather more information on them.

We have never purchased an extended warranty on any purchase before and that includes every appliance, furnace, automobile, roof, etc. we have ever bought. And we have never had an instance where it would have paid off had we bought one.

When it comes to these rigs with expensive repair needs we're wondering if it may be a prudent thing to get. We know next to nothing about these warranties. We have many friends with newer model MH's and 5th wheels and they all have them. They seem to all say it's worth the cost but we have also heard their frustrations over the years with companies turning down their claims for needed repairs on items. So I don't know if they've ever done the math to see if they're getting good bang for their buck.

I do not have a copy of the agreement but would ask for one and read through it before signing.

One item that was quickly apparent is that even though they say "60 month/50,000 miles" it's really only 4 years in length because it rides right alongside the manufacturers warranty so for any first year items we would be using the manufacturer's warranty instead.

Prices for these things seem to be all over the board. And it's tough to evaluate companies unless you know someone who has used the same company as online reviews don't seem to be kind to any company.

Any sage advice on this would be appreciated.

[chuckster52]

Originally Posted by Pikkleballer

We picked up our new 2018 Canyon Star about three weeks ago.
We were presented with an extended warranty offer at delivery but did not take advantage of it at that time but rather opted to think about and try and gather more information on them.

We have never purchased an extended warranty on any purchase before and that includes every appliance, furnace, automobile, roof, etc. we have ever bought. And we have never had an instance where it would have paid off had we bought one.

When it comes to these rigs with expensive repair needs we're wondering if it may be a prudent thing to get. We know next to nothing about these warranties. We have many friends with newer model MH's and 5th wheels and they all have them. They seem to all say it's worth the cost but we have also heard their frustrations over the years with companies turning down their claims for needed repairs on items. So I don't know if they've ever done the math to see if they're getting good bang for their buck.

I do not have a copy of the agreement but would ask for one and read through it before signing.

One item that was quickly apparent is that even though they say "60 month/50,000 miles" it's really only 4 years in length because it rides right alongside the manufacturers warranty so for any first year items we would be using the manufacturer's warranty instead.

Prices for these things seem to be all over the board. And it's tough to evaluate companies unless you know someone who has used the same company as online reviews don't seem to be kind to any company.

Any sage advice on this would be appreciated.

I never bought them before either,but thankfully U bought one for my last coach the "Piglet"....it was a disaster coach from hell....
I bought one again on the new coach,but so far all is ok
Either way it is an expensive gamble...C

[TJ]

With a new coach, you have Newmar's and the chassis manufacturer's warranty for at least the first year. No need to get rushed into a decision.

Dealers mark up extended warranties astronomically and frequently make as much profit on them as they do on the sale of the coach. If you think you'll want an extended warranty near the end of your first year, start checking out your options.

One thing most people benefit from is an "exclusionary" warranty. What that means is that if coverage of any item is not specifically excluded, it is covered. By reading the exclusions section of the policy carefully, you will know exactly what is and is not covered.

With most coaches, the really expensive problems are engine, transmission and chassis-related. And, in many cases, the chassis manufacturer provides a 3-year or 5-year warranty. If that's the case with your coach, there are also extended warranty policies that exclude those items and only cover coach-related things. That might be something to consider.

Remember, too, that component suppliers (appliances, etc.) also provide some type of warranty protection. Be sure you register all of those things by sending in the warranty cards. And, make a list of the length of each warranty. There's little to be gained from paying for extended coverage that duplicates existing warranties.

Personally, I'm not a big fan of extended warranties and tend to self-insure. I put aside a chunk of money at the time of purchase and add a "premium" to that amount each year. Non-warranty repairs come out of that fund.

TJ

[We_B_Tripn]

I have a Bay Star (gasser) which is our first coach. I am not all that mechanically experienced nor do I have a diverse set of tools. We opted to buy into a five year service plan that includes tires and wheels when we picked up the coach. Over the past eight months I have found that I understand the house side pretty well and have able to fix and adjust things as needed. I still can’t deal with the Ford chassis, but so far has been solid. I probably would not purchase a warranty on a gasser again. Now if the next one is a pusher with the fancy electronics then I will rethink my position.

Bill

[wildtoad]

You have one year bumper to bumper from Newmar, one to two years on the appliances and other components, and a nice long warranty from Ford including road side service. Plenty of time to determine if you need an extended service contract.

[Pikkleballer]

So it's not any cheaper to buy it now rather than 11 months from now?

And if I buy a 84 month extended warranty 11 months from now the 84 months would start from the date I purchased the warranty, correct?
So I wouldn't be paralleling the manufacturer's warranty for the first year? So it would be a true 84 month warranty?

[Charlievette]

Originally Posted by Pikkleballer

So it's not any cheaper to buy it now rather than 11 months from now?

And if I buy a 84 month extended warranty 11 months from now the 84 months would start from the date I purchased the warranty, correct?
So I wouldn't be paralleling the manufacturer's warranty for the first year? So it would be a true 84 month warranty?

The company’s selling service contracts, which is what your purchasing won’t let you have your cake and eat it too. I used Wholesale warranties which has a good reputation and fair pricing. I paid $5800 for an exclusionary policy for my 2018 Newmar New Aire. Purchased the contract a couple weeks after delivery, but asked what the premium would be if my Coach was 11 months old? $7200 was the number.
The term of the policy is 7 years..6 really and 70,000 miles.
The company is insured by a Best rated A company meaning if Wholesale doesn’t pay because they are broke or out of business the insurance company does.
Also make sure the service contract pays the repair shop by corporate credit card. That could be a big issue and you want to be out of the payment reimbursement loop.
Good luck.

[Bobschle]

I was offered an extended warranty at close on 5/9/18 and opted not to take it. I was shopping around and have used coach-net in the past so asked them for a quote. This is an actual copy of what I received …

5 Year Ultimate w/ Luxury Option Service Contract - $200 Deductible - $31,294.00 (PERMANENT RESIDENCE)
Total - $31,294.00

Payment Plan Option
Down Payment: $10,952.90
24 Monthly Payments: $847.55

Now has anyone else received a quote anywhere near this high?

[TJ]

Originally Posted by Bobschle

I was offered an extended warranty at close on 5/9/18 and opted not to take it. I was shopping around and have used coach-net in the past so asked them for a quote. This is an actual copy of what I received …

5 Year Ultimate w/ Luxury Option Service Contract - $200 Deductible - $31,294.00 (PERMANENT RESIDENCE)
Total - $31,294.00

Payment Plan Option
Down Payment: $10,952.90
24 Monthly Payments: $847.55

Now has anyone else received a quote anywhere near this high?

That quote has code words for "rip-off" written all over it; "ultimate," "luxury," "permanent residence," etc.

TJ

[Pikkleballer]

What does exclusionary contract mean?

Don't all the contracts exclude certain items?

[Charlievette]

Originally Posted by Pikkleballer

What does exclusionary contract mean?

Don't all the contracts exclude certain items?

Exclusionary policies list what is NOT covered. If not excluded it’s covered.

When they start naming all the items covered that’s when it’s time to RUN.

[Pikkleballer]

Originally Posted by charlievette

I paid $5800 for an exclusionary policy for my 2018 Newmar New Aire. Purchased the contract a couple weeks after delivery, but asked what the premium would be if my Coach was 11 months old? $7200 was the number.

I would expect to pay more at 11 months because wouldn't I be getting a true 7 year policy at that time?......assuming you're not putting a lot of miles on it.
Buying it when you purchase the rig the first year of the extended policy will never be used because of the manufacturer's warranty so like you said it's a 6 year policy in reality.
Buying it at after one year of ownership would give you the full 7 years of warranty to use plus you're using the last year of the warranty when the rig is 7 to 8 years old, a time when more things are apt to go wrong.
The per year cost of the policy bought when rig was new is $967/year (based on 6 year actual policy). The cost of the true 7 year policy purchased when the rig is 1 year old is $1028/year.....only $61 more per year plus you get coverage of the rig in it's older 7 to 8 year age range. Of course this is all based on driving it under the mileage limit.

Is that math right?
It seems to me like it would make more sense to buy it after one year IF the cost was not substantially more.

[Ann n Gene]

Not right on most policies that I have checked. If you wait until 10 months or 12000 Miles, whichever comes first you loose a year of warranty, the mileage limit goes down AND the cost goes up!

[plane]

Opinions about warranty services are quite different. I have just bought a new Coach and will be adding a warranty about one month prior to my factory warranty expiring. My dealer said cost would be the same but you would not duplicate the service,