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Old 10-30-2012, 02:23 PM   #1
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Is an Extended Warranty worth it??

We are trading up on a new Dutch Star (to be built and delivered in early 2013) and the dealer has asked if we want to purchase an Extended Warranty.

The Warranty goes for five years, is issued by Easy Care (and apparently backed by Ford Motor Company), covers all mechanical items and is reported by the dealer as "the most comprehensive coverage available."

Cost is approximately $6,000 with $250 deductible and about $5,500 with $500 deductible. It would add $35 monthly to the loan payment at the lower deductible and a few dollars less at the higher deductible.

If we sell the coach before the Warranty expires, we will get a pro-rated rebate. We will use the coach approximately 10-15,000 miles per year and will most likely not have it the full five years. Like most, we use the coach only in the nicer months and are part-timer RV'ers.

I would like to hear from the wisdom of our group before making any decision on this.

What are your candid thoughts?

Thanks.

Deek
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Old 10-30-2012, 03:07 PM   #2
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I say put the money aside for future repairs. You won't believe the fine print. Use the factory warranty and keep go by the book on it. You will come out way ahead without the extended
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Old 10-30-2012, 03:07 PM   #3
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Thoughts on this topic are all over the map. We bought an EZCare policy when we bought our new DP in 2007. I could not be happier with the coverage and support they have provided. I've never even spoken to anyone at EZCare because the shops I've used are happy to work with them directly and aren't worried about getting paid in a timely manner.

The question, "is it worth it"... depends on personal expectations. Do NOT look at them as investments because you probably will not 'get your money back'. We bought ours because we were newbies at the time and it provided us with peace of mind... and to us, it was worth it.

Two pieces of advice I would offer are, #1) wait until your factory warranty is about to expire to purchase the EZCare policy... and, #2) don't buy it from your dealer. These are very high margin products and you can do much better through a broker or dealing directly with the issuer.

Best of luck.

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Old 10-30-2012, 03:10 PM   #4
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Quote:
Originally Posted by trackman View Post
You will come out way ahead without the extended
IMO, that's a very difficult blanket statement to make with any sort of certainty.

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Old 10-30-2012, 03:18 PM   #5
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Just my experience. Somewhat different from yours but I would dare say we probably each will have equal comments on the subject from other users
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Old 10-30-2012, 03:27 PM   #6
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Just my experience. Somewhat different from yours but I would dare say we probably each will have equal comments on the subject from other users
In fact, my guess is that there will be more opposed to them than in favor. That's my sense from reading years of threads on the topic. My read on it is that folks become disappointed with them because they're hoping to "recover their investment" and/or they've had the EW company deny claims they felt should have been covered. It's clear to me that many of these companies work hard to find ways to deny a claim. From everything I've seen and been told by various shop managers... EZCare is not one which does this.

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Old 10-30-2012, 03:31 PM   #7
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I wouldnt buy one on a new coach under warranty. And, if I did, not from the selling dealer. You will get offers from several 3rd parties over the next year anyways..
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Old 10-30-2012, 03:42 PM   #8
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I personally have maintained extended warranties. Just makes me a bit more comfortable and I don't enjoy doing mechanic work.
I purchased my current warranty from WholesaleWarranties.net, I have found them responsive and they really assisted me when I had a claim this summer. At very least I would call them for a comparison quote. Extended warranties, I am told, are big money makers for the dealers, and are often negotiable.
For the question: should you get one...my vote is yes.
but I would check the price and shop around.
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Old 10-30-2012, 03:54 PM   #9
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I have always advised my customers (away from the salesmen) not to buy the warranty. Just take that money and put it in bank and use that for unexpected cost. The reason the dealership wants you to buy the warranty is they make a big percentage off the sale. The odds of having a large problem are small. Since 1968 the highest cost I have incurred is 550 dollars for a refrigerator cooling coil.
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Old 10-30-2012, 04:02 PM   #10
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Remember, they are not "warranties" they are contracts with specific fine print items. They were written by lawyers hired by the contract sellers. They are not written to have you come out ahead, they are written to make money for the insurance company.
We haven't bought them in years and are far ahead by doing that.
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Old 10-30-2012, 04:08 PM   #11
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Extended Service Plans
If you have a failure and they cover it - it will probably prove worth the money. Work on and parts are not cheap.

If you have a failure and they refuse to cover it due to any number of reasons - preexisting condition - failure due to uncovered component - not worth it at that moment - but another failure may occur later and be covered.

If you never have a failure you should be so happy that the cost of having it never crosses your mind.

Lots of folks "self insure" for lots of things. The one thing I have not figured out how to self insure is my savings. I earmark money for lots of things all the time and then life happens.

We plan to go full time at the end of next year. Purchased our '08 Bounder in August. Independently purchased GS ESP at that time. Am having all maintenance done and documenting to try to cover bases on preexisting conditions. Will renew next August and reassess in first year as full time.

The one thing I don't want to have happen is a failure that hits my savings so hard it stops me in my tracks. Since we bought "new to us" and I'm still working - the cost factor isn't prohibitive.

There are obviously many people with more money and talent than I out there that can DIY and afford whatever comes their way. Possibly because they don't buy things like ESPs and have spent their time learning things I don't know how or care to do.

I would agree that with a '13 you should wait until warranties are running out. I would also not role it or anything into your note. I had a satellite added and some other things done and paid cash for them. Put as much down as you can - finance as little and as short a time as you can - and pay down principle as much and as often as you can. Debt and uncertainty are two things I have little need of. When we go full-time I will have none of one and at least some coverage on the other.
Steve and Annie
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Old 10-30-2012, 06:34 PM   #12
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I bought used and also bought (not from the dealer) a warranty/service contract and it paid over $7000 the first year - much more than the cost of the policy and much more than I would have been able to put in a "repair fund". It's a personal choice and I understand that in the long run I'll probably come out behind but there is a comfort in knowing much of any breakdown will be covered by a policy and not out of my pocket.
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Old 10-30-2012, 06:42 PM   #13
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We really appreciate the responses.

Seems to me that a few things are pretty much conceded by all:

(1) Wait till the new coach warranty is done before adding an extended warranty;

(2) Before the new coach warranty expires, get all done that could be looked at as warranty items and don't delay getting them done while the new coach warranty is in force;

(3) If the decision is to buy an extended warranty, don't buy it from the dealer but rather from another vendor.

These sound like excellent suggestions -- thanks to all for responding. If there is anything further to add, please chime in!

Deek
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Old 10-30-2012, 06:48 PM   #14
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Quote:
Originally Posted by Deek View Post
We really appreciate the responses.

Seems to me that a few things are pretty much conceded by all:

(1) Wait till the new coach warranty is done before adding an extended warranty;

(2) Before the new coach warranty expires, get all done that could be looked at as warranty items and don't delay getting them done while the new coach warranty is in force;

(3) If the decision is to buy an extended warranty, don't buy it from the dealer but rather from another vendor.

These sound like excellent suggestions -- thanks to all for responding. If there is anything further to add, please chime in!

Deek
X5...Those would definitely be my recommendations too! The one item I would add to this is when you DO negotiate a warranty (after the factory warranty is expired) look for an exclusionary contract w/ consequential damage. This will help to limit the potential "gotchas" on warranty claims. And definitely shop around & negotiate...LOTS of leeway in pricing on extended warranties.

If you care to read my take on the matter I actually did a whole post on it HERE.
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