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Topic: Extended Warranty/Service Contract (Read 11 times) previous topic - next topic
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Extended Warranty/Service Contract
Yahoo Message Number: 148530
I am going to be the owner of a what appears to be a well maintained 2003 Lazy Daze RB. I am trying to decide whether or not to purchase an Extended Service/Warranty contract; but, before I do, I would like to get a feel from this group as to the value of such a plan and whether or not anyone can recommend a reputable vendor. Thanks in advance for your sage input.
Fred K.
2003 RB
Re: Extended Warranty/Service Contract
Reply #1 –
Yahoo Message Number: 148531
Hi

Extended  Service/ Warranty Contracts are a really good deal. For the insurer that is.  JMHO. YMMV.

Tom

I am going to be the owner of a what appears to be a well maintained  2003 Lazy Daze RB. I am trying to decide whether or not to purchase an Extended  Service/Warranty contract; but, before I do, I would like to get a feel from  this group as to the value of such a plan and whether or not anyone can  recommend a reputable vendor. Thanks in advance for your sage input.
Re: Extended Warranty/Service Contract
Reply #2 –
Yahoo Message Number: 148532
Exactly. They are a cash cow for the insurers. Have you noticed that every time you buy something electronic in a store they want to sell you an extended warranty? We had one on our SOB several years ago. The first time we needed to use it (We were at Henderson's in Grants Pass) the insurance company found a way to wiggle out from paying for the repair. Said we needed to drive back to Spokane where we bought it so they could inspect the problem. It was a problem with the front suspension. Sure. I actually knew better, but I bought it anyway. Last time.

Dick
Re: Extended Warranty/Service Contract
Reply #3 –
Yahoo Message Number: 148533
Another way to gauge the "value" is to look at what it costs to insure a certainty. Permanent whole life insurance costs about 1 1/2 - 2% per year to insure your death, a certainty. If you're paying more than that for a "possibility", well, you can figure out who it's a better deal for.

John 1994 22' TK Chug
Re: Extended Warranty/Service Contract
Reply #4 –
Yahoo Message Number: 148534
I say pay for the best inspection you can get and have a THOROUGH inspection so you go into th deal with your eyes open. As has been echoed in this thread, extended warranties are usually not cost-effective.
Re: Extended Warranty/Service Contract
Reply #5 –
Yahoo Message Number: 148535
Notice how hard car dealers push e.w.'s as well. Most dealers offer a nice profit to sale persons able to meet goals selling these.

If a vehicle is maintained properly, not abused but cared for extended warranty is usually a wasted cost. As already pointed out most plans have exemptions that need to be clarified in writing if someone was to purchase one.

My personal experience is almost every vehicle I ever owned was purchased used. I always spent plenty of time checking it out, sometimes going to trusted mechanics and paying for reassurance prior to purchase. Never regretted passing on an extended warranty.

Bob 01 23.5 TK with toys Pahrump, NV. for a few...
Re: Extended Warranty/Service Contract
Reply #6 –
Yahoo Message Number: 148536
I have purchased and used such a plan for a used car that had known issues (BMW cooling and suspension) that happened at specific milages. In my case I broke even with those and some other standard repairs. But just barely. Given the age of the coach I agree that you are better off with a very robust inspection. Then bank some money for emergency repairs.   On the other hand it was nice just to hand the the bill to the company.  John
Currently: 2008 36' Tiffin Open Road
Previously: 2007 Mid Bath
Re: Extended Warranty/Service Contract
Reply #7 –
Yahoo Message Number: 148537
I'm not clear that companies will insure an older rig.  There may be a limit of twelve years (if memory serves, and sometimes it is faulty!) for the beginning of a policy, and an upper limit of coverage of some larger number.  If I recall correctly, yours is a 2003, so that is bumping up against the twelve-year limit.  Best check with the company before spending too much time deciding whether or not to purchase an item that may be unavailable.

Virtual hugs,

Judie http://dorrieanne.wordpress.com
Re: Extended Warranty/Service Contract
Reply #8 –
Yahoo Message Number: 148544
About every 3 months I get a call from different companys trying to sell me an extended warranty for the Excape. One time I told them it had 150,000 miles on it to get them off my back. They said that is ok we will still cover the car.
Re: Extended Warranty/Service Contract
Reply #9 –
Yahoo Message Number: 148545
Thank you one and all for your input.  It seems the general consensus is to not buy a ESP!  I am in agreement and will forego the additional costs.  Only Good Sam would not insure the LD and that was because the mileage was over 80,000 miles.  Age or mileage were of no concern to any of the other ESP plans.

Fred
 
Re: Extended Warranty/Service Contract
Reply #10 –
Yahoo Message Number: 148551
Anyone contemplating buying an extended warranty will want to read the policy very carefully for exclusions; what actually is more likely to break and what's covered may not be the same!

One might want to use the money you would have paid for an extended warranty as a starter to a "self-insurance" kitty, a repair and maintenance fund that receives regular contributions to help offset costs when a big expense comes up. How "formal" one wants to make this procedure is a personal decision, but, IMO, consistent/regular cash infusions into the fund are key; the amounts and frequency are up to each person. Believe me, the self-insurance fund will get regular workouts! ;-)

Joan
2003 TK has a new home