Extended Warranty for Honda Accord? Should I buy an extended warranty from Honda at over $1,100/yr? Bought the 2014 Accord from the original purchaser last August 2018 with only 24,500...

Jonathan

Should I buy an extended warranty from Honda at over $1,100/yr? Bought the 2014 Accord from the original purchaser last August 2018 with only 24,500 miles on it. I plan to keep the car until it dies. However the extended warranty even form 3rd party carriers, isn't cheep.

Thanks

Dave327 Loc: Duluth, GA. USA

Absolutely- No. The Honda Accord is a very reliable vehicle capable of trouble free service for 300,000 miles. Keep the fluids changed and use a full synthetic oil and that includes break fluid, power steering, transmission etc. There is true story of a person driving a Honda for a million miles and that story goes back 10 years. Honda bought it and gave him a new one. He had used Mobil 1 full synthetic. Honda took the engine apart to fully inspect it.

DWU2 Loc: Phoenix Arizona area

No! Bad math involved. Self-insure instead.

Longshadow Loc: Audubon, PA, United States

I don't believe in them. Never have repair costs approach $1,100 for the year.
(They like to make money on them.)
Brakes and tires are probably not included.
Odds are that I'm better off putting $1,100 a year in a savings account for possible repairs (or other emergencies). Yes stuff breaks. I had a '79 Chevy Impala wagon for 14 years, and a '95 F-150 Eddie Bauer super cab for 22, and IT'S still in the family.

EDIT->> I currently have a 2011 Hyundai Sonata that I got in 2013. Brakes & tires plus oil changes (every 3K miles) and a new starter, all over 5 years.

BUT, that's just my opinion.

LWW Loc: Banana Republic of America

There isn’t a one size fits all answer.

The big questions are:

- Are you risk averse or a gambler?

- Would a $3K repair tear you up, or is $20 a month more reasonable?

- Who is the issuer?

- What does it cover?

LWW Loc: Banana Republic of America

Dave327 wrote:

Absolutely- No. The Honda Accord is a very reliable vehicle capable of trouble free service for 300,000 miles. Keep the fluids changed and use a full synthetic oil and that includes break fluid, power steering, transmission etc. There is true story of a person driving a Honda for a million miles and that story goes back 10 years. Honda bought it and gave him a new one. He had used Mobil 1 full synthetic. Honda took the engine apart to fully inspect it.

So I assume you have no fire insurance on your house?

DWU2 Loc: Phoenix Arizona area

LWW wrote:

So I assume you have no fire insurance on your house?

Insurance is for catastrophic events like a death, tornado, or house fire, not a flat tire or transmission repair.

LWW Loc: Banana Republic of America

DWU2 wrote:

Insurance is for catastrophic events like a death, tornado, or house fire, not a flat tire or transmission repair.

So your affordability is the same as everyone else?

I’m not advocating yes or no, just that people think it through.

TriX Loc: Raleigh, NC

Depends on the failure and how good you are at performing regular maintinance. If you don’t do the required drive belt maintenance and the belt breaks (the Honda is an interference engine), a replacement engine may cost 5K$. If the transmission fails (sadly, they are typically replaced rather than repaired these days) - 3K$. An OEM A/C compressor is >1K$. It all depends on your maintinance schedule, how hard you push the engine/transmission, your tolerance for large failures, and of course, the items covered and the copay (if any). I generally don’t buy extended warranties on anything, but some years ago, I did buy one on an MB 280 Sport because I knew repairs on this vehicle can be expensive. The first year out of the factory warranty, it had an A/C compressor failure which cost more than the year’s premium - sometimes it just depends on serendipity and only you can determine the answers to the above questions.

tjw47 Loc: Michigan

House insurance is not $1100 for a house worth around $25,000
I have a 2004 Jeep Liberty - bought 1 battery, Water pump and fan assembly - spent $200 in 15 Years in repairs. ( I don't count tires and brake pads as the are considered consumables )

IDguy Loc: Idaho

Such warranties are a ripoff. Put the same amount aside each year and count your winnings.

Jonathan

Thanks to all for good advice.

Longshadow Loc: Audubon, PA, United States

LWW wrote:

So I assume you have no fire insurance on your house?

Yes I do, as well as insurance on the cars.
But I don't have an extended warranty on the house, cell phone, or computer, or printer, or.....

Cripe, some places want to sell you an extended warranty on a hand saw.

(I know not directed at me, but I felt compelled to answer.)

Longshadow Loc: Audubon, PA, United States

tjw47 wrote:

House insurance is not $1100 for a house worth around $25,000
I have a 2004 Jeep Liberty - bought 1 battery, Water pump and fan assembly - spent $200 in 15 Years in repairs. ( I don't count tires and brake pads as the are considered consumables )

DAN Phillips Loc: Graysville, GA

I have never felt that any car company builds a better car than Cadillac. I've drove them since I was 16 years old. They are extremly reliable, comfortable, quiet, innovative and recognizable. Why send money overseas for less a than quality vehichle?