[RAUSTER181]

I remember reading in one of these post about an extended warranty for $800??,that if not used ,you get a refund.I tried searching for it but couldn't find which one it was or contact info.Which one do you guys think is the best bang for the buck?Thanks in advance!

 

[RAUSTER181]

That warranty that everyone is buying from Tracy,does the moneys get refund at the end ,if not used?

 

[legend700]

That warranty that everyone is buying from Tracy,does the moneys get refund at the end ,if not used?

HondaCare refunds the unused portion of the policy.

 

[Certek]

HondaCare refunds the unused portion of the policy.

Where did you read this and what does it mean? If I understand your note - If you pay $900 for the policy and only use $700 of parts and labor during the time frame of the policy are you saying you would receive $200?

It is my understanding that the policy does not refund any money if not used. Otherwise, how could they make any money on it. Honda is taking a calculating risk by saying that for $900 they will provide a warranty banking on the fact that there will be less paid out for repairs then received for the warranty policy. Otherwise they would not do it or raise the price until the in fact did make money.

If they gave back all unused money honda would have to pick up the tab for the warranty repairs, if required, and then return any profits they might have at the end.

Honda is a nice company but they are not a non-profit organization.

 

[legend700]

Where did you read this and what does it mean? If I understand your note - If you pay $900 for the policy and only use $700 of parts and labor during the time frame of the policy are you saying you would receive $200?

It is my understanding that the policy does not refund any money if not used. Otherwise, how could they make any money on it. Honda is taking a calculating risk by saying that for $900 they will provide a warranty banking on the fact that there will be less paid out for repairs then received for the warranty policy. Otherwise they would not do it or raise the price until the in fact did make money.

If they gave back all unused money honda would have to pick up the tab for the warranty repairs, if required, and then return any profits they might have at the end.

Honda is a nice company but they are not a non-profit organization.

I had a 45,000 mile - 3 year policy on my '99 EX. Except for the scheduled oil changes I never needed any other service. I traded for a 2002 NAVI after the three years and got nothing back because the policy is time based. If I had bought a 5 year policy I would have gotten credit for the unused portion of the contract, namely for 2 years.

 

[JoesYum]

HondaCare refunds the unused portion of the policy.

I think legend700 maybe referring to a post i saw a while back. If i remember right, someone traded in an older ody for 2002 model and the dealer gave him refund for unused portion of the extended warranty as part of the deal. I agree, there is NO refund on unused portion of a warranty.

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I had a 45,000 mile - 3 year policy on my '99 EX. Except for the scheduled oil changes I never needed any other service. I traded for a 2002 NAVI after the three years and got nothing back because the policy is time based. If I had bought a 5 year policy I would have gotten credit for the unused portion of the contract, namely for 2 years.
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I do not think that you would have gotten back 2 years of the warranty if you bought a 5 year policy. Only if the dealer you were dealing with was very nice and gave you that as part of the deal on the trade-in.

 

[legend700]

I do not think that you would have gotten back 2 years of the warranty if you bought a 5 year policy. Only if the dealer you were dealing with was very nice and gave you that as part of the deal on the trade-in.

When I signed the paperwork for the '02 the business manager offered HondaCare which this time I did not take. Hewent on to say that if I were to sell or trade earlier I could expect a refund for the unused period. I did not persue it any further, but I will check and see what the details are.

 

[JoesYum]

I belive the best way to check for that is to goto another dealer and ask if they will give refund if you where to tradein your car and had unused portion of a warranty. I'll ask the warranty person when i go pick up my Ody, soon. I hope! and post it here what they say.

 

[Certek]

When I signed the paperwork for the '02 the business manager offered HondaCare which this time I did not take. Hewent on to say that if I were to sell or trade earlier I could expect a refund for the unused period. I did not persue it any further, but I will check and see what the details are.

Legend,
When I wrote my earlier reply I did not realize that you were writing about trade in or selling. I do not know how the above situation is handeled. I would expect that the dealer will look at it on a case by case basis.

 

[half-car]

I currently have a 2000 Ody with Honda Care that I will be trading in next week for a 2002 RES. I contacted Honda and I will get a pro-rated refund because I have not made any claims since I'm still under the 3/36.

 

[JoesYum]

I currently have a 2000 Ody with Honda Care that I will be trading in next week for a 2002 RES. I contacted Honda and I will get a pro-rated refund because I have not made any claims since I'm still under the 3/36.

This is good news. If understand you right, you did contact Honda Corporate and not the Honda dealer?

 

[half-car]

yes, Honda Care is a separate section of Honda. Now remember that I live in Florida and the state regulates anything that has to do with insurance so my ability to get a refund may due to state regulations. The best way to get an answer is to call Honda directly. Call Honda Care at 800-999-5901.

 

[Coleman_lot]

Yes, I have the answer from 2 difference dealers in Arizona. They'll refund my extended warrantee up to 90% after 11,500 miles of driving on my 2001 EX Odyssey. Here is one of the dealer email:

The Odyssey is great at holding it's value. It
dropped only $2500 from what you paid for it, which was over sticker. There has
been a brand new Odyssey come out since you bought yours and the value has still
held strong. My buyer is willing to give you full invoice price for a new 2002
on this vehicle. That is amazing and you get almost 90% of what you paid for
the warranty back also. I will give you an example of most cars. The Nissan
Maxima is a car that costs $28000 similar to the cost of your van new. The out
the door would be around $31,000 the vehicle is only worth $20,000 with similar
miles to what you have on your Odyssey (which is 11,500 miles). If you are planning to keep the 2002 EX-L RES Odyssey a while I think it is a good time to
get out of the 2001 Odyssey. Also if a person buys the Odyssey from you you can't
get the refund on the warranty that I told you about. If you add the $24,500 which I will give
for your van, and the tax credit that you receive of over $1800, that means you
are getting $26,300 for the van. That is almost what you paid for it. Then add
the $1300 you are getting back from your warranty and you are getting $27,600
for the van. That is outstanding!

 

[GoOdyssey]

Buy it as an Insurance Product

Here's a tip on Service Contracts (California) if you gotta have it. Automobile Insurance companies also sell service contracts otherwise known as Mechanical Breakdown Insurance. The insurance companies sell it as an insurance product which means the product's premium has been submitted and approved by the Department of Insurance. Thus, there can be no negotiations or mark-ups that you readily, or should I say red-eyed, experience at the auto dealerships. There are several different levels of service plans, from a comprehensive bumper-to-bumper plan to a powertrain only plan. Shop outside of the box.