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GN2ZDGS · 04-18-2015, 11:24 AM

At what age of Class A diesel should you begin to worry about not qualifying for an extended warranty and or insurance? Or very high costs of these if not getting is not a concern

Mr_D · 04-18-2015, 11:36 AM

Propane refer!
When we went to by insurance on the Magna one of the questions was if it had a propane refer.
Also your credit rating will be a big part of the cost. Experian marked us down for "lack of recent auto loan information". Well if the cars are both paid off and they have been for years there won't be any recent history! They must have missed that we had a long term loan on the old motorhome and were paid well ahed on it!
We also found out that if you have a consumer credit loan with deferred interest it really counts against you. We had the house resided and Home Depot offered us 24 month no interest financing so we took it rather than paying it all off. Most people end up not paying the loan off in time and get stuck with the very high interest rate so they downgrade for that.

GN2ZDGS · 04-18-2015, 11:54 AM

Thanks but I'm confused my question was about extended warranty and insurance not about loans

Mr_D · 04-18-2015, 12:05 PM

Quote:

Originally Posted by GN2ZDGS

Thanks but I'm confused my question was about extended warranty and insurance not about loans

I was pointing out that your credit rating will influence both and how absurd some of the items they go by are.

GN2ZDGS · 04-18-2015, 12:14 PM

Okay that's fine but why would my credit rating come in the play if I'm paying cash?

Ramets · 04-19-2015, 04:04 AM

I believe most company's have a cut off of 15yrs.

Geaux Tigers · 04-19-2015, 05:39 AM

Insurance companies use your credit rating to set your insurance cost. Credit rating is a good indicator of how responsible a person is and therefore how good of a driver.

Gary RVRoamer · 04-19-2015, 09:41 AM

Yeap, credit rating is a major factor in insurance rates. But that wasn't GN2ZDGS question.

From what I've seen, extended warranty rates tend to jump after about 5 years. Some companies don't want to write policies after about 10 years, but Good Sam, for example, does up to 16 (I think). We didn't buy another polict after our 7 year plan expired - it did not look like a good financial bet to us.

Insurance should actually decline with age, as the value goes down. Liability rates stay the same (or go up with inflation), but collision and comp fall off some. However, you probably cannot get replacement value insurance after about 5 years.