Extentded Warranty? Is it worth it?
Hey all, Just put a down payment on a 2012 Forest River Wildcat TT 31 BHS. Will be purchasing from Rv Wholesalers They want approx. $2500 for a 5 year extended warranty. The TT comes with a 1 year war...
Forum Discussion
I generally never buy extended warranties on anything, for many of the same reasons given here, but I bought one on the DW car one time and it paid off big…
So I decided since my RV was going to be my full time home, and unlike the stick and brick I wouldn’t have a shop or a unlimited supply of tools and materials, nor would I have friends and relatives readily available if I needed help as back-up, that a road service and extended service contract was an inexpensive substitute for an aging body and mind… to me it is a cost of doing business so to speak… the thing is it turns out it hasn’t been much of a cost yet… learning to use the benefits of stacking repairs under one low deductible applying cost of repair toward new replacement and a covered fridge cooling unit early on put me literally years ahead of the game very early on…
Often people say there is no need to have it until after the mfg. warranty runs out, that it amounts to double coverage or the insurance company getting a free year of premiums…
while I can’t say for sure in all cases that that is true… waiting until the mfg. warranty runs out may actually cost you more in the long run… to know that you would need to know the cost difference if written as new for the life of the contract compared to the cost as written when one or two years old… lower premiums and lower deductibles might be lost by waiting…
what you can’t do is make that comparison in advance because they will quote a price today, I don’t think they will quote a price today for a contract a year from now… meaning you can only make rearward looking comparisons providing you had a quote from both times to compare…
while many wouldn’t recommend them, the reasons given are usually from a very narrow perspective, although that narrow perspective may satisfy their needs…
So I decided since my RV was going to be my full time home, and unlike the stick and brick I wouldn’t have a shop or a unlimited supply of tools and materials, nor would I have friends and relatives readily available if I needed help as back-up, that a road service and extended service contract was an inexpensive substitute for an aging body and mind… to me it is a cost of doing business so to speak… the thing is it turns out it hasn’t been much of a cost yet… learning to use the benefits of stacking repairs under one low deductible applying cost of repair toward new replacement and a covered fridge cooling unit early on put me literally years ahead of the game very early on…
Often people say there is no need to have it until after the mfg. warranty runs out, that it amounts to double coverage or the insurance company getting a free year of premiums…
while I can’t say for sure in all cases that that is true… waiting until the mfg. warranty runs out may actually cost you more in the long run… to know that you would need to know the cost difference if written as new for the life of the contract compared to the cost as written when one or two years old… lower premiums and lower deductibles might be lost by waiting…
what you can’t do is make that comparison in advance because they will quote a price today, I don’t think they will quote a price today for a contract a year from now… meaning you can only make rearward looking comparisons providing you had a quote from both times to compare…
while many wouldn’t recommend them, the reasons given are usually from a very narrow perspective, although that narrow perspective may satisfy their needs…
