Extended warranty

[The_Postman]

Hi,

Looking for some advise from RV owners.

Is it a good idea to buy the extended warranty from the Dealer?

We are waiting for our BT Cruiser from RV Wholesalers and they are offering a 5 year platinum coverage from Protective for $7000.

Any advise would be appreciated.

thanks

[MikeDupont]

valhalla360 wrote:


Even if you do blush at replacing a toilet seal, it will still be a lot cheaper and FASTER to just set the $7k aside and pay someone to do it.

Amen, brother! RV warranties are a Joke. I'm surprised the usual dealer shills havent chimed in on this thread to tell us how a warranty saved them from bankruptcy.

[valhalla360]

Mickeyfan0805 wrote:
I agree with others, but I do think the one caveat might be the relative handiness of the purchaser. Some of us will go to great lengths to self-diagnose and fix. For those in that camp, warranties are especially unnecessary. In 8.5 years with our current trailer it has been to the shop 2x - once to replace the tires and the other time to replace an axle. All other issues I have dealt with myself.

If, on the other hand, you are one that will blush at the notion of replacing a toilet seal or repairing a door slide, you either want a warranty (with a bunch of patience) or a financial plan to pay for the issues along the way.

Even if you do blush at replacing a toilet seal, it will still be a lot cheaper and FASTER to just set the $7k aside and pay someone to do it.

[valhalla360]

The Postman wrote:
Hi,
Is it a good idea to buy the extended warranty from the Dealer?

Sure!!!!

You are a dealer correct? The profits are huge on these after market warrantees.

[Desert_Captain]

Another thought... Years ago I worked as a commercial boat Captain for an independent boat towing service {like AA for boats - Vessel assist is the big dog in that industry}. The business model for all of the towing services, much like ERS and others is based upon actuarial tables that tell them how many customers will require their services.

For most of these businesses the number is 92%... that will never have a claim and their premiums are pure profit. The other 8% will benefit but never underestimate the ability of the insurer {or lack of a better term} to dodge and mitigate their costs... at your expense. Bottom line is that industry wide roughly 9 out of 10 consumers never need this coverage so like the man said... Do you feel lucky well do ya?

:B

[2_many_2]

Mickeyfan0805 wrote:
I agree with others, but I do think the one caveat might be the relative handiness of the purchaser. Some of us will go to great lengths to self-diagnose and fix. For those in that camp, warranties are especially unnecessary. In 8.5 years with our current trailer it has been to the shop 2x - once to replace the tires and the other time to replace an axle. All other issues I have dealt with myself.

If, on the other hand, you are one that will blush at the notion of replacing a toilet seal or repairing a door slide, you either want a warranty (with a bunch of patience) or a financial plan to pay for the issues along the way.

Well Said 🙂

[Second_Chance]

Did you search the forum before asking this question? It has been asked and answered too many times to count. That said, my wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.

Rob

[Lwiddis]

I advice...no. $7000 will pay for a bunch of repairs.

[Mickeyfan0805]

I agree with others, but I do think the one caveat might be the relative handiness of the purchaser. Some of us will go to great lengths to self-diagnose and fix. For those in that camp, warranties are especially unnecessary. In 8.5 years with our current trailer it has been to the shop 2x - once to replace the tires and the other time to replace an axle. All other issues I have dealt with myself.

If, on the other hand, you are one that will blush at the notion of replacing a toilet seal or repairing a door slide, you either want a warranty (with a bunch of patience) or a financial plan to pay for the issues along the way.

[Desert_Captain]

A lot of good advice here and I agree do not buy the usually worthless warranty. If you do they control all repairs when problems arise... and they will. If you self insure by setting aside money instead of giving it to a third party you decide when and where any repairs get done and they will be working for YOU! This is especially important when you are out on the road vs at home... you do plan to be out on the road, right?

There are lots of stories on the Forums about folks who have been waiting for months for dealer/warranty repairs to be completed. If you are not locked in by any warranty, extended or standard you will be free to take your rig elsewhere.

This method does require the discipline to a actually set aside some additional monies every month in order to grow the fund. Interest rates are currently a joke, you will be lucky to get one quarter of a percent but set the money aside anyway. Stay on top of preventative maintenance and read any warranty that a new unit comes with very carefully so you will know what is {not much} and what is not actually covered.
Good luck.

:C

[gbopp]

Bumpyroad wrote:
say no and it will drop to $3500.
bumpy

Excellent advice.
I think many will advise the OP to not buy the extended warranty because of the exclusions.

[Bumpyroad]

Allworth wrote:
Put the money in an interest bearing account (online??) and plan to add $20 per month. You will be ready with a lot less hassel than any of the EW companies give you.

Remember: it is a business. They are in it to take in more cash than they have to put out.

if he has the spare cash laying around to do that, pay that towards the loan and put the reduction in savings.
bumpy

[Allworth]

Put the money in an interest bearing account (online??) and plan to add $20 per month. You will be ready with a lot less hassel than any of the EW companies give you.

Remember: it is a business. They are in it to take in more cash than they have to put out.

[2_many_2]

Bumpyroad wrote:
say no and it will drop to $3500.
bumpy

I have had this happen to me, incredible fortitude on the part of the person selling the rip off program. Check the fine print, most will do everything possible to avoid paying a claim.

[Bumpyroad]

say no and it will drop to $3500.
bumpy