Extended warranty

mark5w wrote:

Veebyes wrote:
Do you feel lucky? Well, do you? I'd rather spend the money up front, get a product with a good reputation than fill the bank accounts of some extended warranty company. They exist because there is money to be made.

Maintenance comes with a product. Things break, especially if an eye has not been kept on them for wear & tear. Much cheaper to maintain & replace before a roadside failure than to ignore & rely on extended warrantees.

Please tell me of this miracle Rv manufacturer with perfectly built products. Check out all manufacturer forums. EVERYONE has issues.

Maintenance does not guarantee a product will not fail. HOw do you maintain a radio, a microwave, a faucet, a toilet that cracks or a light fixture??

Replacing items on your own could add up.

Warranty for me!!

And on too of that, if that product existed, you will pay more for it in the long run anyway.

When you purchase the extended warranty it kicks into effect after the factory warranty expires. You aren't "Double Warranting" your camper. I know this because when we purchased our previous 5er I bought the 5yr extended warranty. We were warranted for 7years. This is fact because when we traded for the current 5er (5years after purchase) I was able to get reimbursed for the couple of years that remained. I also got the extended warranty for this one as well. If 12gal water heater takes a dump I'm out $100 instead of $1200 and so on. Piece of mind is worth something.

Extended Warranties are a HIGHLY PERSONAL decision, based on your financial situation, tolerance for risk and type of rig you own.

If you own a DP, a major engine or transmission failure COULD cost you over $10,000 in repairs. An AquaHot replacement unit is $8,000 - $10,000. A fridge replacement is $1200 - $1500, much less than the other items mentioned, but not insignificant either.

IMHO, the decision comes down to:
If you suffer a major failure will your rig sit dead in your driveway while you continue to make loan payments, but cannot afford the repair?
or...
What is your tolerance for risking the situation above?

If you can live with either of those, don't get an EW. If either of those would eat at you constantly, seriously consider an EW, if for nothing else but peace of mind.

If you decide to buy in...... RESEARCH is paramount! This is one situation where reading and understanding the "fine print" mandatory. you need to be 100% certain you understand what is and what is not covered. Remember the cost is always negotiable. Since your rig is new, you'll probably be able to negotiate a better deal, but be 100% sure that the EW term kicks in AFTER the manufacturer warranty expires.

Lastly, prepare yourself for the reality that you will probably never recoup the premium paid in claims made. Obviously, as others have said, that's how the warranty companies make their money (and they make lots of it). Look at an EW as an insurance policy, because that's exactly what it is.....

When we bought our 2003 Executive in 2011, we did a 2 year EW (XtraRide Platinum). Expensive but excellent coverage and service. We didn't come close to recouping the cost (alternator was the only repair), but those two years gave us peace of mind while we got to know our coach.

We decided not to renew, but MIGHT look into a policy that covers the drivetrain only, just to cover a major catastrophy. We'll see......

Veebyes wrote:
Do you feel lucky? Well, do you? I'd rather spend the money up front, get a product with a good reputation than fill the bank accounts of some extended warranty company. They exist because there is money to be made.

Maintenance comes with a product. Things break, especially if an eye has not been kept on them for wear & tear. Much cheaper to maintain & replace before a roadside failure than to ignore & rely on extended warrantees.

Please tell me of this miracle Rv manufacturer with perfectly built products. Check out all manufacturer forums. EVERYONE has issues.

Maintenance does not guarantee a product will not fail. HOw do you maintain a radio, a microwave, a faucet, a toilet that cracks or a light fixture??

Replacing items on your own could add up.

Warranty for me!!

mlts22 wrote:
As with Vegas, the house always wins. Would be better to just put the extended warranty payments into a savings account and have a slush fund in case of emergency.

how much will it increase your monthly payment to buy a "fair/reasonably priced" warranty? $10 or so?
put that $10 a month into the bank and in two years you will have amassed a grand total in your slush fund of $250 or so. then your refrigerator/generator/furnace goes bad costing you $1,200. leaves you owing about 950?
bumpy

Do you feel lucky? Well, do you? I'd rather spend the money up front, get a product with a good reputation than fill the bank accounts of some extended warranty company. They exist because there is money to be made.

Maintenance comes with a product. Things break, especially if an eye has not been kept on them for wear & tear. Much cheaper to maintain & replace before a roadside failure than to ignore & rely on extended warrantees.

We have bought them. Best case scenario is that we throw our money away.

Are they the best financial deal? Not by any means statistically speaking. Why do we buy them? Peace of mind. We can enjoy our trips much better. I'm not a mechanic, nor do I pretend to be. I hire mechanics to fix my vehicles, just like I hire plumbers and electricians. First of all, I don't want to waste my time with stuff like that. And I know it will properly done. There is so much other stuff that I would rather be doing. Secondly, I can afford to do it. If the time comes that I can't, then I will either learn to do some things to keep doing it or I will stop. Another thought is that if something happens to me tomorrow, I want my wife to carry on and do the stuff she loves. I don't want her to worry about if something breaks. I want her to be protected. At almost 45 yrs old, I hope that day doesn't happen any time soon. But I just lost one of my subordinates from work. He was 43 yrs old and died of a heart attack while sleeping. He was in good shape and was a total suprise to all. So it can happen when you least expect. Life is too short. Do what you can and be prepared.

Way too much to go wrong on new Rv's. As you can see by all the complaints on this forum and manufactures forums about poor workmanship and things falling apart, how can you not go with a warranty?

Had one for last two rv's and easily recouped my investment on the first one.

As with Vegas, the house always wins. Would be better to just put the extended warranty payments into a savings account and have a slush fund in case of emergency.

I have never been a fan of "extended Warranties" or "service contracts".
However, I got one on both the PT Cruiser and the Southwind.
The one on the Southwind saved us a couple hundred bucks on some minor problems that the dealer should have taken care of but didn't.
The one on the PT saved us several hundred dollars when the power center/computer went bad and had to be replaced.
The Jeep Rubicon was a Certified Pre Owned vehicle, so it also came with a free extended warranty. I have never had to use it. Yet.
As with all insurance programs, Extended Warranties are, IMO, a sucker bet. YOU are betting the insurance company that there will be expensive problems with your rig, and you will get your money back before the rig or the insurance is ever paid for.
The insurance company is betting you that you will pay a couple thousand dollars for the insurance, and have no claims at all.
Who usually wins? Well, think about it; the insurance company ALWAYS makes a profit. They HAVE to make a profit to stay in business and keep their stockholders happy!
good luck.