Purchasing an extended warranty from the dealership?

[Jandsa]

We just bought a 5ver from a dealership and they are trying to sell us an extended warranty on the unit. This 5ver is a year old. However, the warranty is going to cost over $1,000. The dealership is going to go through the unit with hubby to address any issues with this unit. He is mechanically savvy and has worked on our other 5ver and TT previously...just needed to buy parts and did the installation himself. Doe anyone think that these warranties are worth the bucks?

[danrn]

Bird Freak wrote:
Take the money and put in a rv repair account.

I second this approach. Why not have your money work for you, not for a company. Have this money in an account that is drawing interest for you, and in the event you don't have any issues with your 5th wheel then you still have this money.

[richfaa]

Wholesale warranties is NOT a Insurance company. They are a broker just like any insurance agency that sells many different companies policies. We purchased a RV shield policy through them and had no problem with claims. Do read the above mentioned BBB claims they are very educational

On must completely understand the terms and coverage of the policy they purchase. If in doubt call and ask questions. Every insurance policy has exclusions and we must understand what they are.

[RECVEH2005]

I've heard good reports about Good Sam's extended warranties; you might look into one of theirs.

Mike

[carpetguy2]

I have Xtra ride insurance company.Never had a issue.Rv repair shops say they are one of the best to deal with.Never a hassle.

[fla-gypsy]

To those of you who are trumpeting "Wholesale Warranties" to everyone I suggest you read some of the complaints which confirms exactly why these things are rarely, if ever a good idea

http://www.bbb.org/sdoc/Business-Reviews/extended-warranty-contract-service-companies/wholesale-warr...

[Texas_Flash]

Another vote for a quote from Wholesale Warranties.

[Jandsa]

Fla-gypsy...

For us,there is a big difference between paying for an extra warranty by the manufacturer of our diesel and for the Rver. As I posted, it was around double the price for the RV warranty. Thanks for the compliment. I'll take it. 🙂
Thank you.

Richdaa,

I have nothing against a profit for warranty companies and dealerships, but I just feel we don't need that warranty, given the price and the work can be done by ourselves. The dealership already has made enough money from us. IMO, there is a such thing as being insurance poor. When adding up insurances such as: health, homeowners, vehicles, and a5ver, it is a few thousand dollars per year. I think of all the money spent on this and think of other trips we could take instead.

Each camper takes into consideration his/her budget and at what risk, as the moderator had posted. For us, we opted not to take the risk and have the extra funds in case we need it.

Thanks everyone for all your insight and information. It has been beneficial.

[richfaa]

Of course extended warranty companies and dealership make money selling warranties. a business must make money or they would not be in business long. Does your dealer make money off you selling you a RV .If so why is it wrong for a Extended warranty company to make money selling a warranty??/

We have had good luck with Rv extended warranties sane as our Auto insurance , home owners insurance and health insurance policies.

[SkiSmuggs]

My fiver came with a 2 year manufacturer warranty and we had a few things repaired during that time and our dealer was very good about it. In our third year, we had what turned out to be a temporary failure in an electrical circuit board that fixed itself, but the replacement would have been over $800 for the dealer to do or about $400 to do myself. Given that the board may eventually fail completely and that we plan an extended 2 month trip next year, we went ahead and bought an extended warranty. We didn't shop and should have and paid more than we should have, but we do feel more comfortable about the trip now. I have occasionally lost sleep worrying about it and now I won't.
I actually now wish I had gotten an extended 120K warranty on my truck as it is worked hard, past its 60K factory warranty, and I suspect has a warped exhaust manifold that squeals under heavy boost. However, had I bought it from the dealer, I would have paid too much and it turns out the Ford ESP can be purchased for much less than my dealer asked. Next time I will know.

[fla-gypsy]

Jandsa wrote:
You all brought up valid points...risk involved, reviews of company, out to make money and a casino comparison.

My instinct tells me it is a money-making scheme through the dealership, whereby the financial person makes a hefty commission. The extended warranty on our truck, which cost more than this Rver, was less than half the price of this warranty.

I'd rather start a small savings account specifically for the 5ver and spend on replacing or repairs as needed. I appreciate all the savvy advise here. Thank you.

You are going to make a good RV'r. Buying a true extended warranty from the manufacturer on a truck is much different than buying a 3rd party insurance policy from a RV dealer. Only a manufacturer can offer a warranty of their product, the rest are just profit centers for those selling them.

[carpetguy2]

I was iffy buying the warranty.But sure glad I did.
Fire place went out.grey and black tank valve issues.tv went out.roof antenna broke.Air bed took a dump etc. It was only owned for 2 years
And repairs were costly.
Alot more than the warranty cost.

[Jandsa]

You all brought up valid points...risk involved, reviews of company, out to make money and a casino comparison.

My instinct tells me it is a money-making scheme through the dealership, whereby the financial person makes a hefty commission. The extended warranty on our truck, which cost more than this Rver, was less than half the price of this warranty.

I'd rather start a small savings account specifically for the 5ver and spend on replacing or repairs as needed. I appreciate all the savvy advise here. Thank you.

[Paul_Clancy]

If you go to a casino expecting to win you'll probably want one.

[avvidclif1]

The companies writing the extended warranty policies know the failure rate on the various items they cover, do you? They are betting that they won't fail (and know the numbers). You are betting they will fail and don't know the numbers.

Simple for me. They don't write the policies out of the goodness of their heart. They are out to make money, but not mine.