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Random Quote: The smaller the fish the bigger the lie.
No, not on my Yamaha, haven't had an issue with that.
On my two year old motorhome.
Thankfully, I had the dealer throw one in at cost to clinch the deal when I bought it. Cost me $1,095. for a 7 year, 100K mile contract (supposedly, "list" was $2,495).
During our trip on Labor Day, my super-slide jammed up on the way out and ended up bending the worm-gear shaft assembly. It still goes in and out, but makes a heck of a racket and shakes quite a bit.
I did EXACTLY as the contract stated to initiate the claim, and a rep from the company came out and inspected it at my local (non-selling) dealer.
Total repair bill was $950. Approved the next day by the company and the parts are on order. Should be repaired within two weeks.
I'd say that I got my money's worth out of it already. Only a hundred bucks or so short of the original purchase price, but I feel that I have saved that much in value by not even having to worry about the situation.
And I still have about 5 years left of (worry-free) coverage.
To all of the nay-sayers that say don't waste your money on an extended warranty, I say fooey! I have always believed in them and this scenario just reinforces my decision as being the right one.
Whether it is for a boat, or a motorhome, of course avoid the generic, non-OEM contracts like the plague. Stick with the original MFG's plans and you'll be fine. Besides, like with my Yamaha, some MFG's are giving them away free. Skip the rebate, and take the warranty. Great "investment".
If your unit is only 2 years old why wasn't it covered under the manufacturer’s warranty?
This is what I was wondering, when you buy a $75k-$500k motor home do you not at least get a 3 year 36k bumper to bumper warranty? What warranty, if any, did the motor home come with at no additional charge?
Yes, there are times when an extended warranty can be a positive. For some. The very few. However, for the vast majority of people extended warranties make no sense at all, except from a peace of mind standpoint.
The many that are buying extended warranties that don't need then are paying for the very few that do need them. If it were otherwise they would not be offered. The dealers, manufacturer's and insurance companies pay nothing. In fact, they are making money on this deal. Otherwise they would not offer them.
I am 58 years old now and have never bought an extended warranty on anything. Boats, cars, trucks, airplanes, the house, you name it. Never had need of one. Was I lucky? No, not at all. Statistics indicate that the vast majority of folks do not need nor will they ever need an extended warranty. I don't even have, or have ever had, comprehensive coverage (fire, theft, collision, etc) on my trucks or boat even though they were all purchased new. The statistical odds were that I did not need them and time (so far) has proven the statistics to be correct.
Again, the best reason for the weak and timid to buy extended warranties is for peace of mind. It is important that everyone get a good nights sleep and to be comfortable in life. Oh, I feel the same about towing insurance. Never had any in 30 years of boating and never needed it. I could pay a thousand bucks tomorrow out of pocket for a tow and still come out ahead.
If your unit is only 2 years old why wasn't it covered under the manufacturer’s warranty?
Motorhome (coach assembly) has a 1 year warranty on it (industry standard). 10 year warranty on the fiberglass roof.
The chassis (Ford), has the standard 36/36K warranty.
The extended service plan covers everything (both) for 7 years/100K miles.
Sure, this is not directly concerning my boat. It is however, a subject (extended "warranties") quite often talked about here, with the usual questions, supporters and non-supporters.
If Wiley doesn't want it here, he can move it to where he see's fit.
I bought a 5 yr/100K mile warranty on my Ford F250. At 97K miles, I took it to the dealer for a clunk in the rear driveshaft and a broken lumbar adjuster. They called me the next day and said that my front suspension also needed attention, tie rod ends and control arm bushings were out of spec. The dealer fixed the problems I noticed and replaced every wear part they found except shocks in the front end, no charge to me.
I have a 5 yr/100K mile warranty on my new Corvette also, one electronics malfunction after the factory warranty could cost more than the whole extended warranty.
Extended warranties might be a money maker for the the manufacturer but to me, they are cheap insurance.
__________________ 2004 Trophy 2902 WA with Merc 225 EFIs
Sucks gas and hauls ass!
One step ahead and you are a genius, two steps ahead and you are a misfit.
Yes, there are times when an extended warranty can be a positive. For some. The very few. However, for the vast majority of people extended warranties make no sense at all, except from a peace of mind standpoint.
The many that are buying extended warranties that don't need then are paying for the very few that do need them. If it were otherwise they would not be offered. The dealers, manufacturer's and insurance companies pay nothing. In fact, they are making money on this deal. Otherwise they would not offer them.
I am 58 years old now and have never bought an extended warranty on anything. Boats, cars, trucks, airplanes, the house, you name it. Never had need of one. Was I lucky? No, not at all. Statistics indicate that the vast majority of folks do not need nor will they ever need an extended warranty. I don't even have, or have ever had, comprehensive coverage (fire, theft, collision, etc) on my trucks or boat even though they were all purchased new. The statistical odds were that I did not need them and time (so far) has proven the statistics to be correct.
Again, the best reason for the weak and timid to buy extended warranties is for peace of mind. It is important that everyone get a good nights sleep and to be comfortable in life. Oh, I feel the same about towing insurance. Never had any in 30 years of boating and never needed it. I could pay a thousand bucks tomorrow out of pocket for a tow and still come out ahead.
very interesting take on insurance.....I also never took the extended warranty
on several boats over the years..mercs ..evinrudes..and now yamaha...
and never had catastophic faiures to warrant an extended price.....my cars
are a different story...took the full insurance on all of them. P.S. sounds like you don't carry any insurance at all??? a non believer.......a stat kind of guy..
do you have home owners?....medical????.....
UBETRUN - 10/1/2006 11:09 AM I have a 5 yr/100K mile warranty on my new Corvette also, one electronics malfunction after the factory warranty could cost more than the whole extended warranty.
I can't argue that... With the quality if Chevy's electronics you need a 100K warranty! I had the seat rails replaced in my last Vette a month into ownership $950.00) and when I sold it, the seat track needed changed again (rocking seat syndrome, typical on the C5's not sure if they fixed it with the C6 or not).
In this case it may have paid off, but be careful on what these insurance policies actually cover. Case in point a lot of these policies will not cover the emissions stuff. Read the fine print. BTW most of those check engine lighjts are usually emissions related. Just know what you are buying!
The 3-year Applecare contract is worth every penny (on a new Apple computer). Besides one-on-one service over the phone, a friend got a brand-new iMac (suggested by Apple, too) after he had too many problems with his new computer (IMO, all cockpit problems, too).
BUT, always pay for stuff with a credit card that doubles (or at least extends for a year) the manufacturer's contract. Just be sure to staple the receipt to the manual AND the manufacturer's warranty, (and keep your manuals in the same place) so you can prove the purchase. Check with your credit card companies to be sure this feature is part of your card.
Extended Service Contract pays off! 
