Extended warranty for Honda Element

warranties

#1

My wife and I just bought a 2008 Honda Element for our dogs. It is a 4WD LX. Should we get the extended warranty and if so which option. Honda offers a range from power train only to power train plus a lot of other stuff covered.


#2

Extended warranties are NEVER a good idea. They are just a very very expensive insurance policy. It only covers up to 100k miles. So that’s about 75k past the standard warranty. Any car these days should reach 100k trouble free miles. And with a Honda you have a higher probability of doing that. Keep the money and put it in a savings account. You’ll be far better off in the end.


#3

Just bought an '08 Accord & went thru the same spiel (as well as info on other add-ons). I even met with an “accessories consultant.” Honest! I listened and then said “No thanks.” The response was: “Did I go too fast for you?” LOL. I said: “No, I just don’t want any of this stuff.” Pass–it is a profit maker for the dealer.


#4

My wife and I just bought a 2008 Honda Element for our dogs.

I know that dogs are issued licenses, but I didn’t realize they were driver’s licenses!

Extended warranties are really insurance policies, with actuaries carefully figuring out the likely payouts vs premiums paid in. Guess which party has the financial advantage!


#5

You will see more opinions on this issue if you use the “search” feature of this forum.


#6

Put the money you would spend on the waranty in the bank and self-insure your Element. Then after the hypothetical extended warranty expires, take a vacation with the balance.


#7

I got one for my brand new subaru. I paid $1000 and the only thing to break was a $50 clock and they hassled me over replacing it!! On the other hand, I bought them for my kids cars when I bought them used cars and they both paid for themselves - new compressor, new power steering, speedometer sensor, etc, etc. My advice is to skip it on a new car but check the prices of after-market companies when buying a used car.


#8

My wife and I just bought a 2008 Honda Element for our dogs.

I know that dogs are issued licenses, but I didn’t realize they were driver’s licenses!

I was tempted to make a comment…But this was a newbie post so I decided not to. It was hard to pass up.