Drive Accord Honda Forums banner
1 - 20 of 28 Posts

·
Registered
Joined
·
5 Posts
Discussion Starter · #1 ·
Dear all,

I just bought a 2016 Accord LX and a 10 year/100,000 miles warranty with $0 deductible (platinum plan) from Fidelity Warranty Service for $1300 via a dealership. Since I only drive about 7000 - 8000 miles per year and want to keep my new Accord for 10 years, and I had problem with last Accord after 5 years so I decided to take a gamble. After I came home, I did some research and found some bad reputation from Fidelity Warranty Service. I just wonder is it worth to purchase extended warranty service? did anyone buy warranty service from Fidelity Warranty Service? if yes, how was your experience? I am thinking to cancel it and ask for full refund from dealership.

Thanks.

NMT
 

·
Registered
Joined
·
1,566 Posts
Read the fine print on the current warranty and see how it compares to HondaCare. If you can cancel w/o penalty, then I'd go with a genuine HondaCare warranty. Search online for Sacucci Honda or Hyannis Honda. They sell HondaCare at a significant discount and this warranty will almost assuredly be better than the Fidelity one.
 
  • Like
Reactions: slimm1469

·
8th Gen Believer
Joined
·
4,870 Posts
Yes, cancel and hopefully get a refund. Don't buy an extended warranty until the new car warranty is getting ready to expire. You don't need double coverage. HondaCare is the only one to buy. Dealers like it; they know they'll get paid. I have it and it's paid for itself.
 

·
Registered
Joined
·
4 Posts
Dear all,

I just bought a 2016 Accord LX and a 10 year/100,000 miles warranty with $0 deductible (platinum plan) from Fidelity Warranty Service for $1300 via a dealership. Since I only drive about 7000 - 8000 miles per year and want to keep my new Accord for 10 years, and I had problem with last Accord after 5 years so I decided to take a gamble. After I came home, I did some research and found some bad reputation from Fidelity Warranty Service. I just wonder is it worth to purchase extended warranty service? did anyone buy warranty service from Fidelity Warranty Service? if yes, how was your experience? I am thinking to cancel it and ask for full refund from dealership.

Thanks.

NMT
Its a 3rd party warranty. Its going to have all sort of stipulations in it to deny coverage. Also, any claims they approve will surely be for aftermarket parts only. 3rd party companies have no reason to maintain good customer relations, only to make profit. So expect a fight for any claims for warranty coverage that you want them to honor.

HondaCare will have exclusions but not to the degree of the 3rd party warranty. Also, HondaCare uses OEM parts. Finally, HondaCare is affiliated with Honda therefore there's an interest there to maintain good customer satisfaction for the benefit of the Honda parent company. Like someone mentioned earlier, get a refund on the 3rd party warranty and purchase HondaCare from an online dealer.

Yes, cancel and hopefully get a refund. Don't buy an extended warranty until the new car warranty is getting ready to expire.
You don't need double coverage. HondaCare is the only one to buy. Dealers like it; they know they'll get paid. I have it and it's paid for itself.
You could wait until the end of the 3yr/36K warranty, but it will cost you more. The cheapest extended warranty plans are always during the inception of the vehicle purchase and get costlier as you come towards the end of your factory bumper to bumper warranty. This makes fiscal sense for Honda otherwise everyone interested in an extended warranty will just wait until just before the expiration of their 3yr/36K warranty to get one. Honda hedges its bets by charging a higher price as you accumulate more miles and get closer to the end of the 3yr/36K mile basic warranty. Also, I'm not sure how Honda does it but with Nissan, if you purchase an extended warranty after 6,000 miles then you need to have a Nissan dealer do an inspection first. This will cost you a fee of about $100-$200 in addition to the higher premium you will pay for waiting to get the extended warranty.
 

·
Registered
Joined
·
923 Posts
Cancel the extended warranty. Stick some money regularly into a savings account for an emergency expense fund, maintain the car properly and just deal with any issues if, or when they even occur. In the long run, you'll be ahead. Extended warranties are a cash cow for the companies that offer them, and for the majority of purchasers, they are an expense that never yields any benefit.
 

·
Registered
Joined
·
5 Posts
Discussion Starter · #9 ·
Thank you for all your replies. Here is the coverage. I like the coverage up to 10 years since most other warranty is usually up to 8 years.

PLATINUM IS EXCLUSIONARY COVERAGE:

This means it covers your vehicle’s assemblies unless listed under the Exclusions section of the Vehicle Protection Plan.

PLATINUM EXCLUSIONS:

Brake linings, brake drums and rotors, disc brake pads, standard manual transmission clutch friction disc, pressure plate, pilot bearings, throw-out bearing and arm, air bags, solar powered devices, hinges, glass, lenses, sealed beams, body parts and/or panels, weather stripping, trim, moldings, door handles, lock cylinders, tires, wheels, all batteries except Hybrid/EV/Hydrogen High Voltage batteries as listed under Silver Coverage, light bulbs, upholstery, paint, bright metal, freeze plugs, filters, heater and radiator hoses, exhaust system, catalytic converter, shock absorbers, constant velocity joint boots, steering and suspension joint boots, work such as front-end alignment or wheel balancing (except when required in conjunction with a mechanical breakdown), safety restraint systems, audio/security or other system not factory installed, cellular phones, radar detectors, appliances, or vinyl and convertible tops.
 

·
Registered
Joined
·
1,687 Posts
So, pretty much the warranty covers nothing. lol
 
  • Like
Reactions: mobiless2

·
Registered
Joined
·
4,223 Posts
Congrats on your new ride. I have owned Honda automobiles since 1981 and have driven them over 100,000 miles and over ten years with very few repairs. I only had one major mechanical failure which was the transmission on my 2000 Accord Coupe which was due to a known manufacturing defect. Honda replaced the transmission at 93,000 miles and seven years under an extended warranty for free. They even paid for a rental while they did the work. Maintain the car exactly according to the maintenance minder and save the $1,300 dollars.

If you really feel better with an extended warranty then buy Hondacare near the end of the 3yr 36,000 mile bumper to bumper coverage. The power train is still covered for five years or 60,000 miles so you would only be extending the bumper to bumper coverage. Basically you are loaning the warranty company $1300 for free because your new car warranty is in force.

Other than the parts excluded in your extended warranty, which are mostly wear or cosmetic items, I have only had to repair four or five items on all my Hondas since 1981 including the transmission which Honda covered.

If extended warranties were such a good deal for the customer, then why do dealerships hire a separate salesman to push them.
 

·
Registered
Joined
·
5,336 Posts

·
HondaNewb
Joined
·
407 Posts
When I bought mine recently they pushed the 3rd party warranty pretty hard. The salesperson kept angling towards all of the electronics in the car, versus the typical mechanical components of the car. When I said no, all of a sudden they had other lower cost plans too, but I elected to not go with any extended plan.

Sent from my SM-N910V using Tapatalk
 

·
Registered
Joined
·
2,793 Posts
I always budget an extra 2k extra when purchasing a new car for an extended warranty and snow tires and wheels. Honda has been slipping in the ratings lately so past performance is no indication that a Honda will be as reliable as years past. The whole Honda product offerings will be all new by 2018 so there will be the guaranteed teething issues. I agree that the odds are that you will lose money but should you need a major repair you will be covered. Saccucci and Hyannis usually have the best prices for HondaCare. Forget about other companies as they could go out of business.

I also think that an extended warranty cuts through all of the dealer BS where they try to charge you for extra stuff during a repair, it's an equalization factor. I have a CRV that had a valve cover oil leak, needed a new serpentine belt tensioner and a new steering rack. It took several visits for them to figure out the serpentine tensioner until I told them to just replace it and I would pay for it. Paid around 700 for the warranty and the repairs would have been around 2k at the dealer. Remember, on the typical repair bill labor is usually at least twice the cost of parts so it adds up quickly. I've had Odysseys that never needed to use the HondaCare put I got a pro rated refund on the remaining term when I sold them. Besides, it gives me peace of mind to know that I'm covered for the next few years.

With that said, doubtful if I will keep my cars more than 5 years now as I love cars and want to try other stuff as I get older and am fortunate enough to do so. I will risk the differential on the 3/36 bumber to bumber to the 5/60 on the powertrain. Additionally, not often discussed but in some states emissions components have good coverage. Check your emissions warranty before purchasing Hondacare. For example, on my 2014 Accord the Cats are covered for 15 years on 150k (Cats are really, really expensive). When I purchased a 2015 CRV I took a peek at the emissioins warranty and no such luck so it all depends.

Ultimately, it's a personal decision but IMO cars are just too complicated these days and if a manufacturer decides to cut corners and leave the consumer exposed you do have options when keeping a car long term.
 

·
Registered
Joined
·
234 Posts
My credit rating is in the 98%'tile so I always receive the best rate offered (e.g. Accord 0.9% on last two Hondas) when borrowing money from a lender.

I love the incredulous look an auto finance person gives me when I decline all offers for an extended warranty.

With a 3 year 36K mile basic and 5 year 60K mile powertrain warranty, why purchase extended coverage?

If something doesn't break before the warranty expires it isn't likely to. Why do you think auto dealers sell extended warranties? It's a money maker for them because their loss claims are few.
 

·
Registered
Joined
·
5 Posts
Discussion Starter · #16 ·
I used to own an Accord for 11 years without problem until I totaled my car in an accident and I bought a new one. I assume the new one was reliable as my old one but I was wrong. My Accord started to have engine problem 2 months after 5-year powertrain warranty expired so I have to pay for the repair out of my pocket. When the salesman pushed the extended warranty up to 10 years for only $1300, I thought it is a good deal until I research online so I just wonder have anyone use Fidelity Warrant Service with platinum coverage. If yes, anyone had trouble with them.
 

·
Registered
Joined
·
96 Posts
I used to own an Accord for 11 years without problem until I totaled my car in an accident and I bought a new one. I assume the new one was reliable as my old one but I was wrong. My Accord started to have engine problem 2 months after 5-year powertrain warranty expired so I have to pay for the repair out of my pocket. When the salesman pushed the extended warranty up to 10 years for only $1300, I thought it is a good deal until I research online so I just wonder have anyone use Fidelity Warrant Service with platinum coverage. If yes, anyone had trouble with them.
there are two questions:
1. is an extended warranty necessary?
2. if it is, then which one should i buy?

the question of an extended warranty is a personal one for which there is no correct answer - some guys swear by it, some guys say it is unnecessary. you decide

if you decide you need one, then the only one you should consider is the HONDACARE one (the OEM). Shop around for the best price - there are at least 3 options that are regularly mentioned in this forum.
The main issue with a 3rd party warranty is that despite the seemingly reasonable cost ($1300), there is no guarantee that Fidelity warranty service will exist in the next 8 years. Many 3rd party warranty companies go bankrupt before paying out claims. Honda will be around for the next 8 years - that you can count on...
 

·
Registered
Joined
·
4 Posts
With a 3 year 36K mile basic and 5 year 60K mile powertrain warranty, why purchase extended coverage?

If something doesn't break before the warranty expires it isn't likely to. Why do you think auto dealers sell extended warranties? It's a money maker for them because their loss claims are few.
That might have been ok in Accords past, but the 9th generation has too many electronic systems mostly from all the safety tech, that's its a recipe for something to go wrong. While I feel confident in the idea that a Honda engine is built to last hundreds of thousands of miles with normal maintenance I'm not sold on the idea that all their safety electronic systems are just as reliable.

And yeah the dealership makes tons of money off of 3rd party warranty coverage b/c those claims are harder to get approved and they also inflate the prices of HondaCare.

Both of which are moot points when you can get a reasonably priced HondaCare plan through online dealers.
 

·
Accord_Li
Joined
·
97 Posts
My 2004 Accord lasted me 12 years 163k without a single major repair, it is only until last month the AC compressor failed and I sold it. From what I've read at many other online forums or articles extended warranty is not worth it, especially on a highly reliable vehicle (honda/toyota)
 

·
Registered
Joined
·
923 Posts
See, I have more faith in the solid state electronics than some of the mechanicals. Most modern consumer solid state devices, including car electronics, are some of the most reliable devices ever produced by human kind. Their rate of failure is often vanishingly small, in part because they can more easily be far more thoroughly QC tested and vetted during manufacturing. Everybody always mentions worrying about the electronics, but I truly think that is often completely misplaced concern.

Almost every single issue I've had with a car in the past 30 years (not counting wear items) has been mechanical or structural, not electronics. Generally speaking, I think the electronics are far more bulletproof than mechanical components or the basic structure of the car. Yet sales people will try and sell you an extended warranty on the fear of the cost of repairs to electronic components. When statistically, those are amongst the least likely components to fail.

And, a lot of these electronic systems that are new to the Accord market segment are not really all that new. They've been around in higher priced cars, or as expensive optional equipment for years or even decades. So they are hardly cutting edge technology - they're just now finally making it into the mid-range and lower cost spectrum of vehicles.
 
1 - 20 of 28 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top