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I was offered two different contracts: (1) extended warranty, basically gives me bumper-to-bumper coverage for 8 years and (2) Honda Care service contract for either 3 or 5 years and brake replacement or not.
I took both. I do not have my invoice in front of me now, but I think I paid $1,400 for extended warranty and $1,000 for Honda Care for 5 years with brake replacement.
For extended warranty I reasoned that this was a new model (even though many components already exist in other models that have been out for a year or two) and also any one of the electronic sensors would cost hundreds to replace.
For Honda Care, you get one key fob replacement during the term of the contract - that's worth $300, so although you might not need it, you may as well deduct that from the contract price. I get all regular service appointments for 5 years. If I get service 2x per year, I estimate that's $80 * 2 * 5 = $800. Brake replacement, both front and rear is covered in the 5 year contract - that costs a pretty penny. Even if it turns out that I could have gotten all this service cheaper by going independent, I'm sure I couldn't save much - I like that I'm paid up front. Note: I think the Honda Care contract can only be used at the dealer where I purchased it.
What do you think? Worth it or not?
I took both. I do not have my invoice in front of me now, but I think I paid $1,400 for extended warranty and $1,000 for Honda Care for 5 years with brake replacement.
For extended warranty I reasoned that this was a new model (even though many components already exist in other models that have been out for a year or two) and also any one of the electronic sensors would cost hundreds to replace.
For Honda Care, you get one key fob replacement during the term of the contract - that's worth $300, so although you might not need it, you may as well deduct that from the contract price. I get all regular service appointments for 5 years. If I get service 2x per year, I estimate that's $80 * 2 * 5 = $800. Brake replacement, both front and rear is covered in the 5 year contract - that costs a pretty penny. Even if it turns out that I could have gotten all this service cheaper by going independent, I'm sure I couldn't save much - I like that I'm paid up front. Note: I think the Honda Care contract can only be used at the dealer where I purchased it.
What do you think? Worth it or not?