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Just purchased a new 2002 Ody-EXL. Love it! I have a question concerning warrantys. The Honda dealership offers a 7 yr/100,000 mile warranty for about $1100.00. Carbuyingtips.com recommends not purchasing dealer warrantys, instead opting for one by warrantydirect.com or 1SourceAutoWarranty.com
Is there any significant difference between these warranty's and the Honda Care Warranty offered by the dealerships? WarrantyDirect offers great 7yr/100,000 mile coverage for $850.00. Is it worth it to purchase?
 

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When I picked up my '02 EX-L yesterday, the finance manager at the dealer told me that the cost of buying the Honda 7/100 warranty would go up the longer I waited. i.e. if I waited 2 years before purchasing it it might cost another $500. The logic he gave for this was that American Honda invest the money you give them when you buy the warranty with the new car, so that by the time the warranty is in effect (i.e. after the standard factory warranty) they have made some money of it. If they can't make money off it that way, then they charge more for the warranty. Sounds like BS to me! Anybody know if that is the case? BTW - I didn't buy - they were asking $1,300 for it!

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Richard
2002 Granite Green EX-L
Splash Guards, Cargo Tray, Weathertech Mats

[This message has been edited by pearsonrj (edited 11-05-2001).]
 

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<font face="Verdana, Arial" size="2">Originally posted by nsommers:
The Honda dealership offers a 7 yr/100,000 mile warranty for about $1100.00. Carbuyingtips.com recommends not purchasing dealer warrantys, instead opting for one by warrantydirect.com or 1SourceAutoWarranty.com
Is there any significant difference between these warranty's and the Honda Care Warranty offered by the dealerships? WarrantyDirect offers great 7yr/100,000 mile coverage for $850.00. Is it worth it to purchase?
</font>
WarrantyDirect's price is very comparable to HondaCare warranty and they claim that its warranty also covers "Wear and Tear" according to its salesperson. It sounds too good to be true.
Is there anyone who had experiences with them in claiming "Wear and Tear"?
Also, is this a trustworthy company?
Thanks.
 

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The price does go up each year you have the car. Why is anyone's guess but yeah, they might make some investment income off of it during the 3 years before it would have effect. Either way, any Honda dealer should accept the Honda care card; I don't know if they all accept 3rd party plans. But loook for a good price; they range from around $900 for 7yr 100k 0 deduct to $1500.
<font face="Verdana, Arial" size="2">Originally posted by pearsonrj:
When I picked up my '02 EX-L yesterday, the finance manager at the dealer told me that the cost of buying the Honda 7/100 warranty would go up the longer I waited. i.e. if I waited 2 years before purchasing it it might cost another $500. The logic he gave for this was that American Honda invest the money you give them when you buy the warranty with the new car, so that by the time the warranty is in effect (i.e. after the standard factory warranty) they have made some money of it. If they can't make money off it that way, then they charge more for the warranty. Sounds like BS to me! Anybody know if that is the case? BTW - I didn't buy - they were asking $1,300 for it!

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Ron - Ody EX L Navi 2002, silver with fog, subwoofer
 

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It costs more to buy the warranty if you wait.
<font face="Verdana, Arial" size="2">Originally posted by 10/6Odyssey:
I'm waiting till 30-35000 miles to but my warranty. What's the use of having two coverages at the same time?? </font>


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Ron - Ody EX L Navi 2002, silver with fog, subwoofer
 
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