Extentded Warranty? Is it worth it?

If you use your RV, it will break. I really wished I would have bought a warranty. My fresh water tank fell out. This one incident would have paid for an extended warranty.
mm49

Bumpyroad wrote:
are you financing your RV purchase? if so you are paying what $4,000 for that warranty?
bumpy

You are absolutely correct. We just bought our first brand new Wildwood TT and the dealer wanted to charg me over $4500 for extended warranty and that does NOT include the interest you are paying on top of it. I opted out, did some research and will purchase mine from XTRARIDE, 7 yrs for $1100 with $100 deductible.

the happiest camper wrote:
Take the $2500 and put it into a bank account and ONLY use it for RV repairs. I bet after 5 years you will still have some of that money left - if you give it to the warranty people you won't have any of it left.

To me the above statement is "Spock Logic"... I have never been a big believer in extended coverage policies especially on RV's as I got burned really good with one early in my RV career...

To some it may make more sense like JJ whose TT is his FT home, but that's a decision he made based upon certain facts that are different than most of us that are not FT...

I have from time to time bought extended warranties on certain items but I would never buy another on an RV - just this man's opinion - do what you think is right for you... :W

Les

wholesalewarranties.net - - jeff shelton - Scam artists San
Diego , California 1-800-939-2806

My grandparents purchased an extended warranty from this company and were
completely taken advantage of. The warranty was misrepresented at the time of
purchase and my grandparents did not receive the coverage they were promised
when they needed it the most. I would NEVER recommend this company to anyone
else. Their customer service is nonexistent and they offer no support. Complete
scam!

JJBIRISH wrote:
baloney, I don’t know how they all work, but mine pays the repair shop MSRP on the parts, the local fair market price on labor, and he has a choices of how he can be paid, including being paid at the time the repair is completed by CC… More than the mfg. would pay him for a warranty repair and close to what you would pay out of pocket…

no they are not for everyone, but they don’t get a fair airing here… it seems most of the recommendations being made against them come from those repeating what they have heard more than what they know…


shop around the $2500 seems too high for 5 years, way too high, but I haven’t read the contract…

You are correct, and I should re-state it: in every single case I've come across, the mechanic has to ask permission from someone that isn't you before he begins a warranty repair, whereas you are the deciding factor in any standard repair. If you've ever tried getting something fixed under warranty that was open to interpretation (like "corrosion" or "unreasonable wear") or a million other things other than straightforward mechanical failure, you'd remember that it was not easy.

In addition, of all my buddies who are mechanics, I've yet to hear one get excited about warranty work. In fact, they universally prefer standard labor, as the warranty companies' ideas on book time differ from what a shop would normally charge in most cases.

In either case, chances are you won't spend anywhere near that in repairs. If you did, the profit margins wouldn't be high, and if the margins weren't high, the dealer wouldn't be more excited to sell you the warranty than the RV. Even if you can't afford it in one go, if you were to divide $2500 by 48 months(the realistic benefit of the "5 year warranty"), and set that money aside, chances are pretty decent you won't even use that money before it's substantial enough to pay for the unexpected repair.

Here's a decent article on it:

http://www.investopedia.com/articles/pf/07/warranties.asp#axzz2AoK3Gd1t

It's entirely up to the OP, but keep in mind that warranties are huge profit centers. If, for whatever reason, the warranty company isn't making huge money on the extended service contract, you run the risk that the company may be out of business before the contract is realized, leaving you with a piece of paper. Me, I'd rather just pay myself that profit margin. If my RV needed more than $2500 in repairs over 5 years that didn't involve a collision (and my insurance company, which I HAVE to pay for), I'd just walk away from it.

I think a lot depends on how prepared you are for a sudden $2,000 repair bill. if you can handle that, then perhaps a "warranty" is not for you. but if you would be better off financially to pay $20 a month for the coverage, it might be better for you to "pre-pay" for your repair.
but read the fine print, and don't accept the first offer. you will be amazed if you tell the salesman that you can get coverage cheaper elsewhere, all of a sudden the price will drop.
bumpy

baloney, I don’t know how they all work, but mine pays the repair shop MSRP on the parts, the local fair market price on labor, and he has a choices of how he can be paid, including being paid at the time the repair is completed by CC… More than the mfg. would pay him for a warranty repair and close to what you would pay out of pocket…

no they are not for everyone, but they don’t get a fair airing here… it seems most of the recommendations being made against them come from those repeating what they have heard more than what they know…


shop around the $2500 seems too high for 5 years, way too high, but I haven’t read the contract…

Look at it this way:

You're guaranteeing you'll GET more than $2500 in repairs over the next 4 years (has a 1 year warranty anyway, no?). I see two problems with this:

1. If someone told me, when I bought something new, that I would spend $2500 just to keep it on the road, I'd leave.
2. Everytime I wanted to use that $2500 plan, I'd be fighting for someone to fix something. Think about it: when something breaks and I bring it to an independent mechanic, he WANTS to fix my vehicle and he generally wants me to come back. When I bring it in under warranty, it's in his best interest to turn me away with as cheap a repair as possible.

My choice: don't buy the warranty.

the_happiestcamper wrote:

Bumpyroad wrote:

if it covers tires, it probably only covers defects, not wear or age.
bumpy

My thoughts exactly.

the optional tire protection covers replacement or repair of tires damaged due to a road hazards…

this can usually be bought when purchasing new tires, but if they were bought at Sam’s I think the adjustment has to be handled at Sam’s…

you would need to check with GS but I think the GS coverage isn’t limited as to where the repair or replacement can be done…


defects I assume would be covered by the mfg. warranty...

Bumpyroad wrote:

if it covers tires, it probably only covers defects, not wear or age.
bumpy

My thoughts exactly.