need help with extended warranty
11-07-2001, 03:33 PM
#21
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Not for S2000 but I got extended warranty for my used 97 E36
M3 for $1900 with no interest 10 payments option..
It has a $50 deductible and comes with 5 years and 100k
miles.. (so it's insured until 2004 since I purchased it at 99).
I recommend buying 3rd party warranty since you are able to
get warranty done at the favorite shop of your choice.
M3 for $1900 with no interest 10 payments option..
It has a $50 deductible and comes with 5 years and 100k
miles.. (so it's insured until 2004 since I purchased it at 99).
I recommend buying 3rd party warranty since you are able to
get warranty done at the favorite shop of your choice.
11-08-2001, 11:50 AM
#22
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I just took delivery of my S2k a few days ago, and the finance guy told me that I have to buy it at time of purchase (7year/70,000 miles for $1,250). From other comments in this thread, it sounds like A) the Honda warranty is available anytime until the original warranty ends and B) the price is too high. Sounds like at the very least, it makes sense to wait to buy until just before the original warranty expires.
11-08-2001, 12:04 PM
#23
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Originally posted by gohiking
I just took delivery of my S2k a few days ago, and the finance guy told me that I have to buy it at time of purchase (7year/70,000 miles for $1,250). From other comments in this thread, it sounds like A) the Honda warranty is available anytime until the original warranty ends and B) the price is too high. Sounds like at the very least, it makes sense to wait to buy until just before the original warranty expires.
I just took delivery of my S2k a few days ago, and the finance guy told me that I have to buy it at time of purchase (7year/70,000 miles for $1,250). From other comments in this thread, it sounds like A) the Honda warranty is available anytime until the original warranty ends and B) the price is too high. Sounds like at the very least, it makes sense to wait to buy until just before the original warranty expires.
I was quoted $1,200 for the 7 yr/100K mile with $50 deductible, and $1,350 for the same with $0 deductible.
There appear to be much better prices on 3rd party extended warranty products than for the HondaCare. What I don't know is if they are as dependable and cover as much as the HondaCare warranty does.
11-08-2001, 12:44 PM
#24
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I just got a quote from www.warrantybynet.com (from the edmunds.com website). They have two different coverages: Peak Advantage and Premier Advantage. For anyone who might be interested, here's their quote to me (2002 S2000 w/ 450 miles):
"Based on the information you have provided us, we can offer you several programs for your Honda S2000. Listed below is a quote for each program, along with detailed coverage.
--------------------------------------------------------------------------------
Based on the information you entered, the following programs are available for your vehicle:
--------------------------------------------------------------------------------
Peak Advantage Series:
5 additional years or when your vehicle has a total of 50,000 miles on the odometer: $558.00.
5 additional years or when your vehicle has a total of 75,000 miles on the odometer: $737.00.
6 additional years or when your vehicle has a total of 80,000 miles on the odometer: $772.00.
6 additional years or when your vehicle has a total of 100,000 miles on the odometer: $881.00.
7 additional years or when your vehicle has a total of 80,000 miles on the odometer: $787.00.
7 additional years or when your vehicle has a total of 100,000 miles on the odometer: $906.00.
View coverage for this program.
Premier Advantage Series:
5 additional years or when your vehicle has a total of 50,000 miles on the odometer: $589.00.
5 additional years or when your vehicle has a total of 75,000 miles on the odometer: $814.00.
= additional years or when your vehicle has a total of 80,000 miles on the odometer: $834.00.
6 additional years or when your vehicle has a total of 100,000 miles on the odometer: $934.00.
7 additional years or when your vehicle has a total of 80,000 miles on the odometer: $849.00.
7 additional years or when your vehicle has a total of 100,000 miles on the odometer: $959.00.
View coverage for this program.
--------------------------------------------------------------------------------
Our standard deductible is $50. If you would like a $0 deductible, please add $65 to the above quoted prices. Don't forget to ask your consultant about our Flex-Deductible Program.
Our programs begin 30 days and 1,000 miles from the date of enrollment, and will expire in 5, 6, or 7 years from the enrollment date, or when your odometer reaches the total mileage of the plan you select.
We offer all of our customers who enroll in our extended warranty program a FREE MEMBERSHIP in our Emergency Roadside Assistance Program at no additional cost. This membership is for the LIFE OF YOUR SERVICE PLAN. Please visit our roadside assistance page for details.
If you have any questions, please feel free to e-mail us at info@warrantybynet.com or call toll free at 1 (877) 239-8363."
======================================
Me again. Definitely better pricing. Anyone had experience with Warrantybynet?
"Based on the information you have provided us, we can offer you several programs for your Honda S2000. Listed below is a quote for each program, along with detailed coverage.
--------------------------------------------------------------------------------
Based on the information you entered, the following programs are available for your vehicle:
--------------------------------------------------------------------------------
Peak Advantage Series:
5 additional years or when your vehicle has a total of 50,000 miles on the odometer: $558.00.
5 additional years or when your vehicle has a total of 75,000 miles on the odometer: $737.00.
6 additional years or when your vehicle has a total of 80,000 miles on the odometer: $772.00.
6 additional years or when your vehicle has a total of 100,000 miles on the odometer: $881.00.
7 additional years or when your vehicle has a total of 80,000 miles on the odometer: $787.00.
7 additional years or when your vehicle has a total of 100,000 miles on the odometer: $906.00.
View coverage for this program.
Premier Advantage Series:
5 additional years or when your vehicle has a total of 50,000 miles on the odometer: $589.00.
5 additional years or when your vehicle has a total of 75,000 miles on the odometer: $814.00.
= additional years or when your vehicle has a total of 80,000 miles on the odometer: $834.00.
6 additional years or when your vehicle has a total of 100,000 miles on the odometer: $934.00.
7 additional years or when your vehicle has a total of 80,000 miles on the odometer: $849.00.
7 additional years or when your vehicle has a total of 100,000 miles on the odometer: $959.00.
View coverage for this program.
--------------------------------------------------------------------------------
Our standard deductible is $50. If you would like a $0 deductible, please add $65 to the above quoted prices. Don't forget to ask your consultant about our Flex-Deductible Program.
Our programs begin 30 days and 1,000 miles from the date of enrollment, and will expire in 5, 6, or 7 years from the enrollment date, or when your odometer reaches the total mileage of the plan you select.
We offer all of our customers who enroll in our extended warranty program a FREE MEMBERSHIP in our Emergency Roadside Assistance Program at no additional cost. This membership is for the LIFE OF YOUR SERVICE PLAN. Please visit our roadside assistance page for details.
If you have any questions, please feel free to e-mail us at info@warrantybynet.com or call toll free at 1 (877) 239-8363."
======================================
Me again. Definitely better pricing. Anyone had experience with Warrantybynet?
11-08-2001, 01:39 PM
#25
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There were several posts in this thread saying that everyone should get an extended warranty because repair costs are so high. You have to remember that these warranties are profit-making business.
Sure, it will cost $8K to fix major engine damage, BUT what are the odds that this will happen to you? Obviously, the odds are extremely low or you wouldn't be able to buy a 7 year/100,000 warranty for $800.
It works just like insurance...they calculate the expected average repair bill for your car for those 7 years, and charge you that amount. Their profit comes from investing your money for X years before they have to spend it to repair your car. You need zero repairs, your neighbor needs $1600 worth of repairs, and it all evens out for the company.
As far as I am concerned, extended warranties are 'peace of mind' purchases. On the average, you gain nothing, but you don't have to worry about getting hit with a huge repair bill.
My 2.7 yen,
Tanq
Sure, it will cost $8K to fix major engine damage, BUT what are the odds that this will happen to you? Obviously, the odds are extremely low or you wouldn't be able to buy a 7 year/100,000 warranty for $800.
It works just like insurance...they calculate the expected average repair bill for your car for those 7 years, and charge you that amount. Their profit comes from investing your money for X years before they have to spend it to repair your car. You need zero repairs, your neighbor needs $1600 worth of repairs, and it all evens out for the company.
As far as I am concerned, extended warranties are 'peace of mind' purchases. On the average, you gain nothing, but you don't have to worry about getting hit with a huge repair bill.
My 2.7 yen,
Tanq
11-08-2001, 01:57 PM
#26
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I completely agree with the above statement...
The chances of your engine blowing up are extremely small....
Insurance does provide a peace of mind, and in my opinion this feeling might be worth something...
Also, most of us here are true enthusiasts, and while we love our cars, if a new S2000 comes out 3 years from now, many of us, will consider getting it... The extended warranty might help you sell your current car faster though...
I bought a Porsche 968 about a year and a half ago, and thought that I would be keeping this car for a few years at least... Well I sold it last month in order to get my new S2K... We are evolving in a vicious circle my friends
The chances of your engine blowing up are extremely small....
Insurance does provide a peace of mind, and in my opinion this feeling might be worth something...
Also, most of us here are true enthusiasts, and while we love our cars, if a new S2000 comes out 3 years from now, many of us, will consider getting it... The extended warranty might help you sell your current car faster though...
I bought a Porsche 968 about a year and a half ago, and thought that I would be keeping this car for a few years at least... Well I sold it last month in order to get my new S2K... We are evolving in a vicious circle my friends
11-08-2001, 02:11 PM
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Allstate also has a good program. It includes things like Rental car and $100.00 a day reinbursment if your car breaks down more that 100 miles from your home. Plus with the Allstate Plan you can use any repair shop you want. The dealership or maybe a repair shop that might over look performance upgrades.
If you live in California call my agent, her name is Michelle here is her number (310)842 9792 if you are out of California check with your local Allstate Agent.
If you live in California call my agent, her name is Michelle here is her number (310)842 9792 if you are out of California check with your local Allstate Agent.
11-08-2001, 02:53 PM
#28
Originally posted by jalbrah
I completely agree with the above statement...
The chances of your engine blowing up are extremely small....
I completely agree with the above statement...
The chances of your engine blowing up are extremely small....
11-08-2001, 03:52 PM
#30
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I've never bought an "extended warranty" before but I did buy one for my MY2001 S2000. I bought the AHM 7 year/75,000 mile/zero deductible one. In addition to adding 4 years of warranty coverage, I get 7 years of roadside assistance and other "auto club" like services.
One nice thing about the AHM extended warranty as compared with other after market warranties is that the dealer processes the claim in the same manner as the original 3 year/36,000 mile warranty. You take the car in. They diagnose the problem. They contact AHM for approval and fix it. AHM pays them the same rate they pay for warranty work which is a fair rate according to my dealer, or at least a fair rate considering Wyoming cost of living.
I figure that AHM figures their warranty prices based on their "average repair rate of all Honda models" but I doubt the S2000 reliability will live up to the average of all Honda models.
We've got a very high tech engine which costs around $10,000 for a short block replacement, more for head and short block. We've had fifteen or twenty expensive repairs covered by warranty on this board. Some of those have been "the spark plug that ate the engine" problem in cars approaching 30,000 miles.
I look on it as "insurance" as mentioned above, but asa better than average buy insurance, because I think we on this board know more about the frequency of repair rate for our S2000s than the warranty company.
I did negotiate a special price from AHM for my warranty since my car's engine developed the #4 cylinder problem at 650 miles and two months of age. I was without a brand new car for 3 weeks. AHM treated me GREAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
One nice thing about the AHM extended warranty as compared with other after market warranties is that the dealer processes the claim in the same manner as the original 3 year/36,000 mile warranty. You take the car in. They diagnose the problem. They contact AHM for approval and fix it. AHM pays them the same rate they pay for warranty work which is a fair rate according to my dealer, or at least a fair rate considering Wyoming cost of living.
I figure that AHM figures their warranty prices based on their "average repair rate of all Honda models" but I doubt the S2000 reliability will live up to the average of all Honda models.
We've got a very high tech engine which costs around $10,000 for a short block replacement, more for head and short block. We've had fifteen or twenty expensive repairs covered by warranty on this board. Some of those have been "the spark plug that ate the engine" problem in cars approaching 30,000 miles.
I look on it as "insurance" as mentioned above, but asa better than average buy insurance, because I think we on this board know more about the frequency of repair rate for our S2000s than the warranty company.
I did negotiate a special price from AHM for my warranty since my car's engine developed the #4 cylinder problem at 650 miles and two months of age. I was without a brand new car for 3 weeks. AHM treated me GREAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!