Thoughts on an extended warranty

[Matt Knight]

I am the original owner of a 2008 MDX with 46,500 (trouble free) miles. I received a solicitation to extend the factory for an additional 5 years, up to 101,000 miles. I called the company and was offered the "Platinum" coverage for $3600.

I then called my local dealership and the cost to extend the factory warranty for up to 5 years or to 100,000 miles was $2555.

I was wondering who has, or has not bought an extended warranty and why.

I really like this vehicle and plan to keep it for another 5 years.

If I were to extend the warranty through the dealership I would do son before the pricing changes in January.

Thanks in advance,

Matt

[omnimax]

I purchased an extended warranty through Acura Care on my CPO 2008 MDX which goes to 8yrs/120k. I bought it because I was nervous and they cut me a deal (or so I think) that worked out to $2k more for essentially a new car warranty according to Acura Care documentation because I got a really good deal on a CPO. Most sources would say that it's not really worth it but I did it because this was my first used car and I do plan on keeping it for awhile.

IMO, The prices you're quoting seem really high. I would make sure the warranty is with Acura Corporate and not some 3rd party service or something limited to just that dealer. I've had issues with 3rd party extended warranties on previous cars where they kept claiming it wasn't covered under the extended warranty and we later found out it was a 3rd party warranty that was ended up being conned into (in hindsight). I'm not sure if Acura care is available to you but even the dealer will sell a lot of 3rd party services.

I think the MDX should be pretty reliable (I still own a 2009 TL which has been trouble free for 70k miles) but depends on your appetite for risk and what they're actually trying to sell.

hope this helps.

[nsxtasy]

Wow! $2555 is a LOT of money! Now, I'm not saying you wouldn't need to spend money on repairs and maintenance during that time, but the chances of spending $2555 on covered repairs and maintenance aren't very high. Remember, the extended warranty isn't going to pay for scheduled maintenance, and isn't going to pay for parts that normally wear out, like brake pads, tires, etc.

The MDX is extremely reliable, and most extended warranties represent large profits for those who sell them. Chances are that you will pay more for the warranty than you will ever recoup from it; even if you have some repairs, they probably won't cost as much as the warranty (and not everything gets covered in full). However, there is always a small chance that you will need a major repair that would be covered by the warranty. If you are asking what the odds are, you're better off not getting the extended warranty. But if you are willing to spend a good chunk of money for the peace of mind that, on the off chance you have a major problem, you'll be able to get its repair cost reimbursed, then it might be a good idea for you.

You can read what Consumer Reports says based on their survey of 8000 readers with extended warranties, in this article:

Extended warranties: A high-priced gamble
Our survey of 8,000 new-car buyers shows they are usually a poor deal

I've bought used cars and new cars. I've never bought an extended warranty. And I've never regreted that decision.

[lion9mdx]

Originally Posted by Matt Knight

I was wondering who has, or has not bought an extended warranty and why.

I've never bought an extended warranty because they're priced much higher than the average payout. The odds are that I'll come out far ahead over the long term.

[tolson37]

Originally Posted by Matt Knight

I am the original owner of a 2008 MDX with 46,500 (trouble free) miles. I received a solicitation to extend the factory for an additional 5 years, up to 101,000 miles. I called the company and was offered the "Platinum" coverage for $3600.

I then called my local dealership and the cost to extend the factory warranty for up to 5 years or to 100,000 miles was $2555.

I was wondering who has, or has not bought an extended warranty and why.

I really like this vehicle and plan to keep it for another 5 years.

If I were to extend the warranty through the dealership I would do son before the pricing changes in January.

Thanks in advance,

Matt

Negotiate

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[Matt Knight]

Thank you for the great responses.

If I were buying this vehicle used and planned to keep it I would be more inclined to go with an extended warranty. It was the solicitation in the mail that got me thinking about this.

In my situation I was leaning towards self-insuring for this risk. I am basing that on having had very good luck with my previous Honda/Acura products.

Thanks again,

Matt

[tolson37]

Originally Posted by Matt Knight

I am the original owner of a 2008 MDX with 46,500 (trouble free) miles. I received a solicitation to extend the factory for an additional 5 years, up to 101,000 miles. I called the company and was offered the "Platinum" coverage for $3600.

I then called my local dealership and the cost to extend the factory warranty for up to 5 years or to 100,000 miles was $2555.

I was wondering who has, or has not bought an extended warranty and why.

I really like this vehicle and plan to keep it for another 5 years.

If I were to extend the warranty through the dealership I would do son before the pricing changes in January.

Thanks in advance,

Matt

Sorry. Negotiate for a lower price. It's year end.


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[skinny2]

I normally would never buy an extended warranty. Clearly it's just an insurance policy and they're in the business of making money. If you don't sleep well regarding unknown expenses...or you have a problematic vehicle....it could make sense.

I would not recommend ever buying any warranty besides the one offered by the manufacturer (i.e Acura). Aftermarket warranties can (and do) go bankrupt leaving you with nada. Far less likely for Honda to go belly up.

[khundkar]

I bought acuracare when I bought my acura mdx. I had a bmw x3 before that as the family car and the amount of **** that went wrong with that car was astounding, and i didn't have the warranty on the bmw.. after that ordeal, I will always get warranty on a preowned car, and only manufacturer extended warranty.. nothing else. I will also never buy a mercedes or a bmw ever again.. (right now I have benz c300 4matic)..

next purchase, Lexus gs350, keep the acura as the family car, and in 2 years get the GTR as the weekend car.. (sold a supercharged g35)

[symmetrical]

IMO If you are the original owner and you know how well you took care of your car, then you probably don't need any type of extended warranties. But if you buy a car second hand, then it "might" be a safe bet to get it. Sometimes you just never know what the car has been through that could lead to unforeseen failures.

With that said, I think most MDX owners generally don't have major issues. I see a lot of 2007 guys here pushing 150,000 miles or more with little to no problems.

[omnimax]

Originally Posted by symmetrical

IMO If you are the original owner and you know how well you took care of your car, then you probably don't need any type of extended warranties. But if you buy a car second hand, then it "might" be a safe bet to get it. Sometimes you just never know what the car has been through that could lead to unforeseen failures.

With that said, I think most MDX owners generally don't have major issues. I see a lot of 2007 guys here pushing 150,000 miles or more with little to no problems.

I'm in the middle of issue where somehow a faulty rear diff made it past the certification process and now my X is in the shop after about 36hrs of ownership. It's covered under the CPO warranty but symmetrical has a point here, I don't know how my X was driven/cared for and I accepted Acura Certified at their word and now my X is in the shop and I've spent more time in my loaner than my X. The warranty is bailing me out now as I'm sure it would be pretty $$$ if this was out of pocket. I still believe Acura's are reliable as evidenced by my experience in my 09 TL at 70k trouble-free miles and in your case, since it's your car, the risk is probably lower because you take care of it so it may not be worth your while/$$$. My mom got burned by a 3rd party honda warranty in the past so I would say Acura Care or set aside your own money for repairs.

[luxcar]

Originally Posted by symmetrical

IMO If you are the original owner and you know how well you took care of your car, then you probably don't need any type of extended warranties. But if you buy a car second hand, then it "might" be a safe bet to get it. Sometimes you just never know what the car has been through that could lead to unforeseen failures.

With that said, I think most MDX owners generally don't have major issues. I see a lot of 2007 guys here pushing 150,000 miles or more with little to no problems.

+1, I don't think MDX need extended warranty especially if you know the history of the car

[Dominik-X]

I bought an extended Acura Care plan for $1375 from Bernardi. It seems like Hyannis Honda is offering the best deals now. Those of you who think the MDX is unbreakable and that the warranty is not needed, good for you. Just take a look at the large amount of issues discussed under the 2007 and newer section.

My extended warranty already paid off for itself just one year after buying it. Were the odds against me? Perhaps, but I had some issues before and took the risk to buy extra protection. I am glad I did and dont have to worry about costly repairs for another 4 years.

Your call.

[jvette]

I am another one who never buys extended warranties but I have to say the last 3 Acura's I have owned have had some things happen in the later years of ownership. The last one had the head unit go out on the Nav system and that was $3600 to fix. After a fight with Acura they agreed to fix it for a discounted price but some of those electronics can get expensive to fix. I currently have two Acura's right now and don't have extended warranties on them.

[__raj]

My experience from 75k-98k in 15 months is trouble free 2007 Acura MDX. The only issue of hard Power steering and vibrating transmission(occasionally) both covered off by TSB.

The only downside of extended warranty is you will be inclined to perform non-warranty maintenance at the dealer. Mine locally seems reasonable but some area's very $$$$ for a fancy Honda.