Warranty about to expire, should I extend?

[Tytus]

I have a 2004 NSX and the warranty is gone in 9 days. The car now has 8,500 miles, it had 6,100 when I bought it 6 months ago in the winter. I have had no issues. The dealer wants $3,200 for a 4 year extension and an additional 45,000 mile. I would be covered untill May of 2012 and until the car had about 56,000 miles.

Is it worth it considering this is such a reliable car? I don't expect to hit that many miles, but I will keep it probably a long time, but you never know. I had an MR2 for over 14 years and over 90,000 miles with not one issue. Am I running out of luck? Just want to hear some thoughts on this. I usually don't buy extended warrantys, but everything is so expensive to repair if it goes on this car, maybe this time I should.

If I don't buy it now, I won't be able to after the original warranty expires.

Thanks in advance for your thoughts.

Tytus

 

[atlanta nsx]

hey man i don't know if you are interested, but i used to do finance at a honda dealer and can probably make some calls to get it for you at a lower cost. still know some people in that position. im pretty confident, do not know for sure, that the cost is a good bit lower. would just be a matter of a some fed ex action and a credit card.

 

[DocL]

I wouldn't worry about an extended warranty for the NSX. I have a '94 with 70,xxx and I haven't had any issues that would need to be covered under a warranty. On the otherhand, if you feel you will sleep better at night with a warranty, then by all means get one.

 

[atlanta nsx]

I wouldn't worry about an extended warranty for the NSX. I have a '94 with 70,xxx and I haven't had any issues that would need to be covered under a warranty. On the otherhand, if you feel you will sleep better at night with a warranty, then by all means get one.

i agree, however, no matter how reliable, things happen. This powertrain is nothing to play around with if the worse was to happen. Also, there are coverages now that you can pay extra for that guarantee FULL refund if it is never used. However, you should only use it for repairs/replacements that cost a major amount of money otherwise $0 refund. So don't use it for a $200 repair that you can easily pay for. Typically all you have to do is make a phone call at the end of the term to receive your refund. It is actually a full proof plan when you think about it. You either use it or you don't. How much is the C32 motor? Approx. $18000-$20000? Obviously that is not very common, but things CAN happen. Also all the parts on our cars aren't the cheapest thing in the world. The way these company's can afford to do that is that either someone obviously uses it, or they don't call to get there refund and i think you have 30 days to let them know. Anyone with sense know when they have $2-3 g's sitting there for them. This is what i use at the motorcycle dealer and im pretty sure car dealers have similar products. Please don't bash me if you know otherwise. Just trying to help based on what i actually do know, and what im pretty sure i know.

 

[prestonmay]

Father owns a Chevy DealerShip. I have no Ideal what Acura DOes. But Chevy starts out HIGH like a time share-----3k....then by time you walk out its 1k. If you can get it cheaper, do it. I have a third party plan on mine (599.00)that was dirt cheap with 50 deductible ---Yes it covers powertrain.... off topic..... With a BMW its a no brainer for it covers maintenance and is only 2500.00 -- One brake job on a 745 is close to that........ so you get your money back asap....

Make sure its transferable from owner to owner...Great selling Point...

With the Third Party you can take the car anywhere of your choice and they pay for it over the phone with cc or invoice.....Some Acura shops have never seen an NSX or worked on them.....So having a choice that Includes the Dealer is better....
I had an rx7 that had to go to 3 mazda dealerships before they could get it right.......

hahahahah buy some mods search for third party warranty if you must....But 3k plus is hard for me to swallow....thats almost tb and clutch job plus fluid change... that TB job is coming in 2009 -2010 - 6 yr thing

 

[MartinSD]

Greetings

Mine goes off warranty on May 16th. I purchased the extended warranty. Honda wanted $3900 for mine -- paid a little over $3.

Martin

 

[synth19]

That seems pretty high, call Ray Laks Acura, they have the best prices I have seen. www.raylaksacura.com

 

[mickeylex]

Do what makes you comfortable; what gives you peace of mind. If paying the Acura dealer $3200 for the warranty gives you peace of mind, then do it.

Sure, it's possible that you will have $3200+ repair in the next four years, but highly unlikely. Sure, your C32 motor COULD blow up - but you probably have a better chance of getting hit by lightning playing golf.

It's your money - do what makes you feel comfortable. It's essentially a prepaid insurance policy that will cost you the equivalent of approx $67/mo for four years.

 

[Steven Allen]

You are wasting good money. If you were REALLY driving a lot it would be a marginal decision. However, you are not and the likelihood that your car will develop mechanical issues that would justify this expense would be less then 1% IMHO.

Take the $$$ and go on a trip - maybe VEGAS!

 

[RPM217]

Tytus, giv "The Kid" a call at Bridgewater Acura, he might be able to help you not only on the price, but help you "reason it out". My 02 has almost 40,000 miles and other than oil changes, it has only needed lots of tires!

 

[Tytus]

Thanks for all the input! I will call Mike and see what he says. I have heard that you should stay away from third party policies, but the benefits of getting money back may be interesting. If you can go to someone else to get a repair performed, can it be Larry B, or does it have to be to a bonified shop? Can third party warraties be purchased after the factory policy has expired?

Roger, I take it you aren't carrying an extended policy?

Guys, thanks again,

Tytus

 

[atlanta nsx]

Thanks for all the input! I will call Mike and see what he says. I have heard that you should stay away from third party policies, but the benefits of getting money back may be interesting. If you can go to someone else to get a repair performed, can it be Larry B, or does it have to be to a bonified shop? Can third party warraties be purchased after the factory policy has expired?

Roger, I take it you aren't carrying an extended policy?

Guys, thanks again,

Tytus

Our money back warranties for the bikes and such can be used anywhere. they don't care. this will probably set some off while some may listen, but a lot, not all, of the so called "factory extended service contracts" are from 3rd party sources with the factory name stamped on it. Look at your roadside assistance that came with your NSX or whatever. You think Honda comes out to get you? They have another company back that. Atleast my certified one said that. Third party coverages can suck BAD, but some actually are much better than the "factory" ones. We deal with a company that has been doing coverages for nearly 37 years and they pay claims quicker than Honda, Suzuki, and Kawasaki. Yamaha on the other hand hardly ever has delays or problems with coverage.

 

[RPM217]

Thanks for all the input! I will call Mike and see what he says. I have heard that you should stay away from third party policies, but the benefits of getting money back may be interesting. If you can go to someone else to get a repair performed, can it be Larry B, or does it have to be to a bonified shop? Can third party warraties be purchased after the factory policy has expired?

Roger, I take it you aren't carrying an extended policy?

Guys, thanks again,

Tytus

Correct, no extended policy, if the car hasn't been troublesome during the factory warranty, highly unlikely that any problems will develop during the extended period. It's after the extended policy would expire that problems would be likely to develop. My Subie (which was troublesome right after we got it) has the 7 year 100m from Subaru (which they gave us to make us feel good after all the immediate problems) now has almost 70,000 miles in 4 years and has been trouble free (except for the catalytic converter which was covered by the factory warranty) ever since. I'll probably keep it awhile longer, but definitely say goodbye before the 7 year 100m is up. Save the money, it'll pay for the repairs and then some!!!

 

[atlanta nsx]

i just think it funny how you someone could possibly say that since there own personal car hasn't had a problem then it won't or can't happen. honestly guys, think about it. if there was a problem on say just 1 out of 100 and you knew the odds ahead of time and were actually the one that was hit with a major problem, would you really give a sh.. about the other 99. what would you say? oh well this hardly ever happens so its cool. fact is our cars are strong, reliable and almost bullet proof but concede the possibilities. the cost of a major repair can be devistating and not worth the risk, especially if you actually read the option you can have that i posted prior. if that doesn't make sense then sorry, but if you have ever actually needed a warranty then you will probably agree. again, not meant to piss anyone off, but egos get in the way of actually purchasing coverages. i see it all the time and then sometimes i see the same people dropping major money for repairs. congrats, you win. you didn't give someone money to protect your car or whatever and now it will cost you much more. if the cost of the MAJOR repairs do not bother you in the least then leave it alone, but not all members have that luxury.

 

[Cairo94507]

Well, I believe I paid under $2K for my extended warranty when I bought my NSX.
First, I really bought it for the resale factor so when I (ultimately) sold the car the buyer would feel good about buying a car still under the factory warranty.
Secondly, if something big happened to the car, I wasn't going to be out big money.
I would give TheKid (Mike) a call at Bridgewater Acura in New Jersey. He is a great guy and probably could help you out. Good luck.

 

[NetViper]

If you just drive the car occasionally and don't track it, then your motor will probably live forever.

Of course, once you are out of warranty, you can start the mods

 

[drew]

The NSX is not a problematic car; the lowest common denominator argument is an unlikely scenario.

Warranty Insurance is [almost] akin to buying stock with a lot of the same issues involved.

Atlanta NSX is basing his argument on the lowest common denominator situation. And while that is a valid argument: you'll never get anywhere in life with it. Sure, you'll be safe, but not much else. You gotta take reasonable chances based on probability of occurrence and reward/failure.

Consider that 3 people have killed themselves in car accidents on the short roadway that I can view solely from my house just in the past 2 years. This would indicate that my family or I should never leave the house lest I we all get killed. What you don't know is my road is used by boy racers and sports cars to race around on the mountains edge....anybody driving less than 2x the speed limit or a Corvette or a ricey Accord has little to reason to worry.

Using the LCD argument, you'll never get on an airline or take a 3 mile trip to buy a lottery ticket (where the odds of dying in a car accident is even with wining the big pot).

You have to weigh the odds of all the issues involved, the condition of the car, your driving habits and intended use (ie you gonna drive the car into the ground?). Also consider: cost, reward, risk, time and lost opportunity (with lost opportunity having the highest and most intangible cost).

In the case of the NSX, I personally would pass on the extended warranty. It is *extremely* unlikely scenario to recover your money on this particular car if driven in a sane manner. IMHO: your money is better spent on something else: if you are going to invest it then you have much better odds on your favorite stock.

If you are the type to fritter away your money OR live paycheck to paycheck OR absolutely cannot take the chance of a covered item failure costing more than $3500 (no matter how unlikely intersection of this scenario is on the NSX): then buy the warranty. This is to avoid the "black swan" scenario where a very unlikely event will have extreme consequences on your life.

It is not a simple answer and $3500 is a lot of money and you should choose wisely.

Drew

/Black Swan

 

[The Kid]

I think cost on that warranty is around $2750, I'll do it for a couple of bucks over that:wink:

 

[MartinSD]

Greetings

I bought the extended warranty on mine because it is a daily driver.

Cheers,
Martin

 

[prestonmay]

i just think it funny how you someone could possibly say that since there own personal car hasn't had a problem then it won't or can't happen. honestly guys, think about it. if there was a problem on say just 1 out of 100 and you knew the odds ahead of time and were actually the one that was hit with a major problem, would you really give a sh.. about the other 99. what would you say? oh well this hardly ever happens so its cool. fact is our cars are strong, reliable and almost bullet proof but concede the possibilities. the cost of a major repair can be devistating and not worth the risk, especially if you actually read the option you can have that i posted prior. if that doesn't make sense then sorry, but if you have ever actually needed a warranty then you will probably agree. again, not meant to piss anyone off, but egos get in the way of actually purchasing coverages. i see it all the time and then sometimes i see the same people dropping major money for repairs. congrats, you win. you didn't give someone money to protect your car or whatever and now it will cost you much more. if the cost of the MAJOR repairs do not bother you in the least then leave it alone, but not all members have that luxury.

Not saying the Warranty is bad....Just Marked up....Shop Around

 

[Tytus]

Mike,

Thanks for the break on the price, but I will pass on getting the warranty.

All,

Thank you for the different points of view. I have usually passed on extended warranties and rarely, if ever actually used one except for a Merkur XR4ti I had once which was always being repaired since new. So I will pass on this one as well. If this was a Vet, I probably would buy it as their reliability is far less than the NSX. But I own an NSX and I beleive in this car; especially with the low miles and the fact that I really don't drive it that much, as it is not a DD. I have driven this car already over 3,000 miles since I bought it and feel very confident, knock wood, it'll be fine.

Honestly I wouldn't want any Acura dealer to work on the car anyway and would prefer to give the work to Larry B in the long run. I have heard so many horror stories of dealership poor performance on this car, except for Mike's Bridgewater Acura, that the gamble seems worth it.

We'll revisit this thtread in 4 years and see how I did; or sooner if I have a major failure of some kind. I beleive in this car and probably have more faith in it then some.

Thanks again and we'll see.

Tytus

 

[RPM217]

Tytus, I think that you're making the right decision, remember it's a Honda, not a Ferrari, Porsche, Maser, Lamebo, or other unreliable, expensive to repair vehicle. Granted, while not inexpensive if you have to replace the engine, transmission, etc, you probably won't have to face any of that within the even extended warranty period. I had to drive my car to work today, as my DD was getting some needed maintenance (it even got rained on and didn't melt), and just really enjoyed driving it the short 4 miles to and from my office. Don't look back at your decision, look forward to driving the car!!!