Extended warranty / service contract: is it worth it?

[lacossarnold]

We’re considering buying a 2015 used fifth wheel and I’ve applied for a loan. The loan company is also trying to sell me a service contract. I have been warned in this forum that the axles in the TT were looking at have seals that tend to leak into the brakes. We’ll also be full time in the trailer for approximately a year. Given that, does a service contract make sense?

The service contract company is Protective Asset Protection. Are they reasonable when it comes to claims? Between the service contract and a road tire hazard contract, the two would add up to 33 per month. I’d probably skip the road hazard.

Thank you,
Jason

[Allworth]

Put the money in an interest bearing MMA (CapitalOne.com, etc) and leave it.

If, down the road, you need an equipment replacement that is not "normal" maintenance use some of it.

If you never have to use any then it will help increase the down payment on your next trailer.

Wash; Rinse; Repeat. (The next trailer always gets bigger and more expensive!)

[Chase_WV]

The cylinders on our camping trailer started leaking. The warranty company blamed us for causing them to leak said that we were abusing them some how. Luckily the dealer that sold us the camper and the warranty ate the cost of the repair.

[pennysmom09]

NO NO and NO!! They exclude more than they repair and stories of usefulness are rare.

[time2roll]

NO

[DownTheAvenue]

SidecarFlip wrote:

gbopp wrote:
Ask for a copy of the policy.
Read it and understand all the exclusions BEFORE you agree to purchase the policy.

EXACTLY

Yes! Read the actual policy not the sales brochure or listen to the person selling it.

As a general rule the odds are not in your favor with these policies. They have access to millions of repair tickets and exclude anything that routinely breaks. They usually write in procedures you have to follow exactly to get them to pay designed for them to deny a claim.

It is an insurance policy. They take the premiums of many, take out their profits and salaries, and then pay to the very fw who have a claim.

If you buy it and roll it onto your loan, don;t forget to add the interest to your costs.

Never insure anything you can afford to pay for yourself.

Would you pay thousands of dollars to insure a $600 air conditioner?

[et2]

I see your reply. You made the right choice. We paid too much on ours and it didn't pay anything close to what it cost us.

[Lwiddis]

Skip having dealer repack? Wow.

[midnightsadie]

don,t skip it,start your own.

[lacossarnold]

Thanks all. I’ll take the consensus suggestion and skip it.

[Lwiddis]

“I have been warned in this forum that the axles in the TT were looking at have seals that tend to leak into the brakes.“

Have the dealer repack the bearings...with new seals of course...as a condition of the sale. Put that issue on the dealer...failure..sue him.

[Veebyes]

donn0128 wrote:
To be blunt it is a way for someone to make a lot of money off you. Take what ever their wanting to charge you put it into a special safings account and let it earn interest while you go happily down the road.

Bingo! 11 seasons. About 150 nights use per season. Had to replace a fridge. Big one. 4 door. It was only just out of warranty. Oh well. The replacement cost was a little under $5000 installed.

How much would an extended warranty policy cost over that time?

All the other wear & tear repairs & upgrades I did myself.

JMO but those extended warranty people are in it for their pockets not your peace of mind.

[mockturtle]

No.

[Halmfamily]

Run, Forest, Run. Self insure of you can. If you really want the warranty negotiate the price. We originally purchased a 7 year warranty but backed out a month into it. They started out at $1900 and we paid $1100.

[Tyler0215]

Don't buy a service contract to cover what is a $200. repair your worried about. Have the bearing packed, and the seals replaced and go. Service contracts are a ripoff. For everyone who has come out ahead, 0 others have lost money. Save your money and pay for the repairs yourself.