[slimm1469]

I've had HondaCare on two Accords and they both paid for themselves. I did negotiate the price. Yes, our cars are reliable. No, problems with them are not exclusively transmissions. They are mass produced machines. At 115k miles, I got a 48-point inspection and HondaCare replaced the power steering pump and rack. $0 cost. It's an individual decision and I wouldn't urge you to buy or cancel. This has just been my experience, which the OP asked for.

 

[t-rd]

Don't be so quick to think that just because its a japanese car that it just won't break. Back in 2003 I bought a new Acura and purchased Acura Care online for about $1000. Before that warranty expired they covered two new CV joints, new head unit, new amplifier, both headlight housings and resolved an oil leak. This was all AFTER the factory warranty had expired. The warranty on that car well paid for itself. Now a year ago I bought a CPO 2013 Accord and also purchased honda care for $800. If it needs a few repairs done then im covered and if not I have the peace of mind that I was covered with road side assistance for 120K miles

My mom has a 2003 Acura TL, and she NEVER EVER has any serious issues, and I work on this car myself. I'm not sure what you ran into.

I would NOT ever get extended warranty on any Japanese cars, I cannot speak for Korean. I WILL get extended warranty on any German cars, they just fall apart after the warranty is over. The funny thing is, most people think there is FREE maintenance for 5 years or 36000 miles on a German car, but in fact, you paid that when you purchase the vehicle new. Nothing is free.

 

[2Accordz]

@1992: Let's look at this from a financial planning perspective. Why does anybody buy insurance? The answer is the person believes the financial loss associated with "this peril" is too great for them to handle. To protect themselves from financial devastation, they pass that risk onto an insurance company in exchange for a premium they CAN afford. Of course that premium is based on the probability of occurrence and the dollar amount at state.

Let's cut to the chase. How much is the prorated refund AND in the remaining 5 years do you think your car will require a repair that costs more than that refund? If your answer is, "The refund is $600 and I think my future repairs will total $400," is that $200 savings worth the risk of being wrong?

Plus, if you decide to trade-in the car to a dealership before the 7/100 expires, this warranty does have value. You tell them to run the car through their shop before they change ownership. If the dealership finds anything wrong with your car, they know it will cost them NOTHING because the warranty will cover it. Unless your car has physical damage, that almost assures that you will get top value for your trade. The trade-in value difference between outstanding and clean can be several hundred dollars. One repair and a higher trade-in value could easily exceed the refund value.

At this point, unless the refund is huge, I'd keep the warranty, especially if you intend to keep the car for several more years.

I totally agree.

To the OP...
Insurance....which is basically what a warranty is, is a dirty 9 letter word that absolutely know one WANTS to pay for..but as Baldeagle states the word is "peril" which most consumers don't understand.
If, after the next 3k miles can you absolute afford(or, are willing to pay for) a repair bill?? I'm sure most shops are getting well over $100/hour these days..

Also, after your power train warranty expires in the next 27k, that could be a huge bill...can you afford that, also?
Yes, these are Hondas, but as Baldeagle also stated unless the pro-rated part is big enough to get another, better warranty, is it really worth the risk?

 

[t-rd]

Take the $2400 and invest that in a master mechanic tool set, you'd be surprised how many things you can fix without going to any dealer or shop. And those tools will last you a life time. Another funny thing is, most wear, normal, and accidental items aren't covered under warranty. Within 100k miles of my 7th gen Accord, I did nothing but oil changes, brake jobs, and transmission fluid changes only.

- The iridium long life spark plugs last over 100k
- front pads didn't require changing until 120k
- rear pads changed at 98k miles -> maybe covered under warranty if you can argue a good case about it
- engine = fine, many oil changes
- transmission = fine, 3qt fluid change every 15k
- axles changed at 180k miles (way over your 100k period)
- timing belt/water pump at 102k = not covered under warranty
- power steering pump resealed at 150k
- serpentine belt every 60k = not covered under warranty
- alternator at 204k = not covered under warranty
- starter at 248k = not covered under warranty
- battery every 5 years = not covered under warranty unless died within 3 years or so
- any suspension items = wear items, not covered under warranty
- tires = come on, not under warranty unless there is factory defect
- motor mounts at 180k = unless you drive like a maniac, they are fine before 100k

You have to ask yourself, what are you paying $2400 for?

 

[1992]

Take the $2400 and invest that in a master mechanic tool set, you'd be surprised how many things you can fix without going to any dealer or shop. And those tools will last you a life time. Another funny thing is, most wear, normal, and accidental items aren't covered under warranty. Within 100k miles of my 7th gen Accord, I did nothing but oil changes, brake jobs, and transmission fluid changes only.

- The iridium long life spark plugs last over 100k
- front pads didn't require changing until 120k
- rear pads changed at 98k miles -> maybe covered under warranty if you can argue a good case about it
- engine = fine, many oil changes
- transmission = fine, 3qt fluid change every 15k
- axles changed at 180k miles (way over your 100k period)
- timing belt/water pump at 102k = not covered under warranty
- power steering pump resealed at 150k
- serpentine belt every 60k = not covered under warranty
- alternator at 204k = not covered under warranty
- starter at 248k = not covered under warranty
- battery every 5 years = not covered under warranty unless died within 3 years or so
- any suspension items = wear items, not covered under warranty
- tires = come on, not under warranty unless there is factory defect
- motor mounts at 180k = unless you drive like a maniac, they are fine before 100k

You have to ask yourself, what are you paying $2400 for?

I completely agree with you, but the problem is the money is already down on it and I can't change that. I regret it and I learned a valuable lesson, albeit an expensive one. I appreciate all the insight, guys.

Long story short, I am an idiot. It's a pricey mistake, but I'll never make it again. I was foolish enough to take my salesguy at his word as everything else had made sense before. I was stressed and he said all the right things to get me to sign on the line.

 

[2Accordz]

I completely agree with you, but the problem is the money is already down on it and I can't change that. I regret it and I learned a valuable lesson, albeit an expensive one. I appreciate all the insight, guys.

Long story short, I am an idiot. It's a pricey mistake, but I'll never make it again. I was foolish enough to take my salesguy at his word as everything else had made sense before. I was stressed and he said all the right things to get me to sign on the line.

Idiot?? Absolutely not! I think you're being way too hard on yourself.
Uninformed??...maybe....

Look, at the end of the day, if you never have to submit a claim and your car does 100k without one damn issue...guess what?? You won.
I believe that the fact that most warranties are negotiable is what you did not understand..and you really cant beat yourself up over a rookie mistake, made at a time when you were simply "ignorant" of that fact(in the truest sense of that word)...

It's great to believe that everyone, at every single moment of their lives... has 20/20 vision...

I can assure you, as someone that has stumebled and fallen many, many times, that as you go through life, that you won't.:wink

 

[Kamdog]

My mom has a 2003 Acura TL, and she NEVER EVER has any serious issues, and I work on this car myself. I'm not sure what you ran into.

I would NOT ever get extended warranty on any Japanese cars, I cannot speak for Korean. I WILL get extended warranty on any German cars, they just fall apart after the warranty is over. The funny thing is, most people think there is FREE maintenance for 5 years or 36000 miles on a German car, but in fact, you paid that when you purchase the vehicle new. Nothing is free.

No, they don't "just fall apart". It is like anything else that is a complex machine: you need to take preventive maintenance and take care of the whole car, including using appropriate replacement parts.

Maintaining the BMW is certainly more costly. The spark plugs cost more, gas and oil costs more, the brakes cost more, all of the parts cost more, including higher rated tires. And so does the labor. I use an independent BMW mechanic, but he is not cheap either. And it certainly costs more to use OEM parts.

But.

The car is 9 1/2 years old, has 112K miles on it. It still does sub 6 second 0-60, and rides and handles better than the Accord, and than my friend's new Toyota Avalon. It is more solid, it is more comfortable at 90 than the Accord is at 70. If I have to do a 700 mile day, I will come out of it feeling far better in the BMW than in the Accord. Other than gas mileage, the BMW has been better in every way than the Accord. The car has never let me down, or been laid up in the shop for an unexpected expensive repair.

But it is more expensive in every way as well. Whether it is worth the extra expense, well, that is a personal decision.

 

[2007V6]

I'm going to cancel mine as well. Idek why I bought it lol. Did you just call and cancel? How are they refunding your $$?


Sent from my iPhone using Tapatalk

In my case I had the selling dealer cancel my Honda care policy. Received the refund within 2 weeks with a check from the selling dealer.

 

[pspressart]

@Kamdog On the other hand, I owned a 2002 BMW 355xi for more than 11 years and put about 95K miles on it. My "unexpected expensive repairs" included replacing all four window regulators, a fan final stage resistor, the water pump , the motor mounts, the A/C evaporator, the alternator, the lower control arm bushings, the serpentine belt, the thermostat and the air conditioner controller, all for a cost of about $7,800 - and most of the work was done by an indie repair shop. It was laid up several times. When the unexpected started happening to its replacement - used 2011 335i, I told myself that I did not want to go through that again, and traded it in for my Accord.
Even the posters on the several BMW forums said that if you wanted to avoid the comparatively high expense of maintaining a BMW, get a Honda.

 

[Kamdog]

@Kamdog On the other hand, I owned a 2002 BMW 355xi for more than 11 years and put about 95K miles on it. My "unexpected expensive repairs" included replacing all four window regulators, a fan final stage resistor, the water pump , the motor mounts, the A/C evaporator, the alternator, the lower control arm bushings, the serpentine belt, the thermostat and the air conditioner controller, all for a cost of about $7,800 - and most of the work was done by an indie repair shop. It was laid up several times. When the unexpected started happening to its replacement - used 2011 335i, I told myself that I did not want to go through that again, and traded it in for my Accord.
Even the posters on the several BMW forums said that if you wanted to avoid the comparatively high expense of maintaining a BMW, get a Honda.

I have had at least 1 Honda in my driveway since 1981, so I know how good the are. But it is a mistake to think that Hondas are all good, and other cars are not good at all, or don't have something better to offer.

 

[listen to remix]

I read somewhere that Honda Accord Touring Headlights are ~$1000 each... If they both fail, you'll already be out $2000. If you have the touring trim, that's something to think about.

 

[pspressart]

I have had at least 1 Honda in my driveway since 1981, so I know how good the are. But it is a mistake to think that Hondas are all good, and other cars are not good at all, or don't have something better to offer.

I know that. No car is perfect - all are the result of cost vs value. I just believe at this time in my life (I am 67), I will get a better overall value from my Honda than I would from a BMW. If I could afford to own multiple cars, I would most likely have both, but I can only have one. The car that I now have has may good features, drives well and is enjoyable. That's all I am asking.

 

[cjohnstone]

I only get this on vehicles that I'm going to keep for a long time. I purchased the 120/84 month coverage on my Odyssey at a cost of $1,100 from the Honda dealer that sells Honda Care via mail order. One set of steering components and a new power steering pump later, I'm sold. $0 cost, $1300 cost avoided. I've still got over half the warranty left and am very happy.

 

[KW2004Accord]

I completely agree with you, but the problem is the money is already down on it and I can't change that. I regret it and I learned a valuable lesson, albeit an expensive one. I appreciate all the insight, guys.

Long story short, I am an idiot. It's a pricey mistake, but I'll never make it again. I was foolish enough to take my salesguy at his word as everything else had made sense before. I was stressed and he said all the right things to get me to sign on the line.

You are NOT an idiot, extended warrantys are the highest mark up item in a car deal & the sales guy knows all the high pressure tactics to use. Many people get caught up in buying one since they are tired & just want to complete the sale. My friend payed $6,000 for a 6 yr. extended warranty on a new BMW. He traded the car in after 3 yrs. / 70K miles.