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Old 06-12-2015, 03:12 PM   #1
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To warranty or not to warranty... that is the question

I have a 2014 TT that was bought in Sept. 2013. The manufacturer's warranty expires this September (we bought a second year at point of purchase for a discount) and I am struggling with whether to buy an extended (4 year) warranty for it. On one hand I think it's wise since we have already had some small expenses covered in the first couple of years but that was with no deductible. On the other hand it seems you are tossing the dice on how many repairs you may or may not have that are A: covered by warranty and B: expensive enough to exceed deductible and C: accumulate a cost of more than the warranty over the 4 years. I have a quote from a warranty company that we used on a previous unit for $1900.00. This is compared to $4k thru Good Sam's for the same basic animal / time frame. I'm looking for input on the value of a warranty and if it's the thing to do then recommendations on company's that offer the best bang for the buck etc. Thanks!
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Old 06-17-2015, 04:34 PM   #2
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Sorry, but a warranty (on ANYTHING) is not something you choose based upon dollars. EVERY warranty will cost on the average MORE than you will get reimbursed for. So, on the average you ALWAYS lose. However, you need to consider the utility of money to you and the potential maintenance costs. For example, if a $2000 unplanned expense is not a big deal to you, then a maintenance contract is not a good deal. All econometric studies will tell you that an extended warranty on the average is a bad deal. However, YOU have to consider the comfort feelings of not having to worry about those unplanned expenses. If you don't buy a warranty, put an equivalent amount into saving each month. You will typically come out ahead. But if not, you will have some $ to ease the burden.
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Old 06-17-2015, 04:40 PM   #3
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No to the extended warranty. You will have some say they are great but even a blind dog gets a bone every now and then. I totally agree with putting the cost of a plan back for a rainy day
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Old 06-17-2015, 05:40 PM   #4
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We did not buy it. Only purchased the extra year from Forest River.
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Old 06-17-2015, 06:13 PM   #5
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Quote:
Originally Posted by Jim Schings View Post
Sorry, but a warranty (on ANYTHING) is not something you choose based upon dollars. EVERY warranty will cost on the average MORE than you will get reimbursed for. So, on the average you ALWAYS lose. However, you need to consider the utility of money to you and the potential maintenance costs. For example, if a $2000 unplanned expense is not a big deal to you, then a maintenance contract is not a good deal. All econometric studies will tell you that an extended warranty on the average is a bad deal. However, YOU have to consider the comfort feelings of not having to worry about those unplanned expenses. If you don't buy a warranty, put an equivalent amount into saving each month. You will typically come out ahead. But if not, you will have some $ to ease the burden.
Totally agree!
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Old 06-17-2015, 06:25 PM   #6
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Read the fine print, it sounds like a third party warranty and most require annual inspections etc which increase the cost. In addition, warranty work usually goes to the end of the line, so you need to figure in the cost of not having the use of the unit. Put the money in an interest earning account and pay for repairs from it. At the end of four years, odds are you will still have money left..
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Old 06-17-2015, 08:16 PM   #7
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Thanks for the repsonses

Appreciate the feedback, I like the idea of a dedicated kitty for repairs with a monthly input roughly equal to what the warranty would have cost over 48 months. Makes good sense versus tossing the dice on an upfront expense that may or may not be needed. Thanks again.
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Old 06-18-2015, 09:55 AM   #8
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Also keep in mind that many of the things in the camper have their own manufacturer's warranty ranging from 2 years up to 5 years. So although your "bumper to bumper" may expire, appliances and other items may still have a warranty. Read through your manuals to see what each piece has (stove, fridge, hot water tank, slide outs, water pump, microwave etc).
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Old 06-18-2015, 03:29 PM   #9
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From my limited experience when you go to collect on an extended warranty/service contract they almost always try to find a reason to not pay the claim. They also don't cover delamination or frames which are the items that I would want covered because of the repair cost. So not for me. Good Luck
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Old 07-26-2015, 12:16 PM   #10
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Extended service plan

Gents first time toy hauler owner or about to be. I've read every post I can about the extended service plan. But wanted to ask this to the experienced guys. My dealer is offering a plan through corner stone for 7 years for 1500 bucks with no deductible. They have provided literature to back what's covered. I have read through everything and it states just about everything I would be concerned with ie.. Generator, Ac, plumbing, and electrical is covered. Any other thoughts on the matter would be greatly appreciated. Thank you all in advance.
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Old 07-26-2015, 01:52 PM   #11
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Quote:
Originally Posted by Earthsurfer View Post
Gents first time toy hauler owner or about to be. I've read every post I can about the extended service plan. But wanted to ask this to the experienced guys. My dealer is offering a plan through corner stone for 7 years for 1500 bucks with no deductible. They have provided literature to back what's covered. I have read through everything and it states just about everything I would be concerned with ie.. Generator, Ac, plumbing, and electrical is covered. Any other thoughts on the matter would be greatly appreciated. Thank you all in advance.
Did you find delamination is covered?
Probably not.
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Old 07-26-2015, 02:29 PM   #12
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I have not found an extended warranty or service plan that cover delamination or frames.
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Old 07-27-2015, 11:01 AM   #13
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Might be worth it

Earthsurfer, with my bumper to bumper discounted second year warranty coming to a close I made the call to pass on buying another 4 years for $1900.00 thru a 3rd party based on input from the posts above. It just makes sense to save that monthly amount playing the odds that I won't have a one time repair on the scale of $1900.00 or more, or even a string that equals that amount over the 4 years of use. But in your case, in my opinion 7 years for $1500.00 sounds like a solid deal, especially with no deduct and since you are buying it at POS you can roll it into your loan (unless you are paying cash of course). If it's rolled in to the loan you would be paying for it as long as you are paying on the unit and it will raise your payoff amount which has to be factored in with the depreciation of a new unit to determine how long it would be before you could get out of the unit and not have negative equity. The trade off is you are paying very little overall for a lot of peace of mind. Only drawback would be that warranty work does typically take longer to get back versus folks paying out of pocket. If the warranty has good coverage and isn't too cumbersome with inspections / maintenance etc. I say it would be very tempting.
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