Question:
I just bought a pre-owned 2003 Honda Civic which has a mileage of about 89400 miles on it. I was sort of persuaded by the dealer to buy the HondaCare extended warranty for 2 years or 24000 miles, at a cost of $1860 and deductible $100. However, when I got the contract, there are so many exclusions. I am now wondering whether I should cancel the contract as I am not sure whether it would be worthwhile. Can you advise? Are there better ones?
Answers:
For those who have leased cars?
Oh yeah, you got screwed. The chances of your Honda having problems equaling $1860 in the next 24k miles is almost nil. Even if your engine goes, rebuild costs less than $1500.In Texas, do you have a certain amount of time to change your mind after you buy a car?
Cancel it ASAP! I believe Honda allows you to cancel within a specific time period.
My parents have this car and want to ..?
You do not need any extended warranty on a Honda. They can easily go 200k miles without a problem, as long as you do regular maintenance and replace the timing belt & water pump every 90k miles.
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Considering haw fast those things start falling apart at 60,000 miles you better have something.Buying a subaru loyale , help please!?
If the car was taken care of by the previous owner and you intend to follow the service intervals as outlined in the owners manual there is no reason to have an extended warranty on a Honda. If you plan on making modifications to the car, the warranty you bought would be worthless anyway. Basically those type of packages are free money for the dealers, you have a certain amount of time to cancel the deal on that, your call.You probably bought the Honda because it is a good car that tends to last longer than competitors. Being that is the case, why would you have to buy an extended warranty. The warranty will NOT cover most of the items you will have fail in the next 2-4 years. Honda is notorious for the Timing Belt breaking because the engine is built as an interference model where once the timing belt breaks, the valve train crashes down and causes major damage. Other than that, there isnt much to do. I say cancel the warranty and get a good mechanic to check it all out, independent of the dealer.
3>Could you estimate the price differential between the high end brands and low end brands?
You are asking a few questions. The first is that there is no better service contract than the Honda Care contract, bar none. the contract is backed by American Honda and covers all of the expensive repairs but does not cover maintenance, brake pads, wiring repairs and minor bulbs, switches etc. In terms of the coverage and the security, the Honda Care contract is the best money can buy.If you're having buyers remorse about the cost of that security then the question you want to know the answer to is will you spend more than $1860 on non-maintenance repairs to your used civic in the next 24,000 miles or two years. The answer is that it is highly unlikely that you will spend that much on non-maintenance repairs if the dealer did their job in making sure that the car was in great shape when they sold it to you.
Most dealers will only sell cars they can have confidence in, that's why you bought the car from a Honda dealer (I know that because you can only buy Honda Care from a Honda Dealer).
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I can't tell you what will happen in the future or whether or not you will get your money's worth out of the service contract. Its a decision you have to make. If you think that you will have to make repairs to a relatively new car that will cost in excess of $1860 over the next 2 years or 24,000 miles, then keep the contract. If you think that you will have to make repairs that are less than that amount, then cancel the contract and open a savings account where you can deposit that $1860. You can use that account then to pay for any repairs that may come up and in the meantime earn interest on your money. If there is anything left over after 2 years, you win.
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Its your decision.
hope that helps
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The car is sure to have problems at that mileage. Any car will. If you dont know how well it was taken care of then youre open for even more problems.Unfortunately those warranties are pretty much a scam. It is very difficult to get them to pay for anything. They list nearly any issue as normal wear and tear unless you fight them.
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