Purchase extended warranties, yay or nay??

Christiben · 07-02-2019, 08:19 AM

Anyone have opinions about purchasing extended warranties? We did it and now I am thinking buyers remorse....
Actually, I am thinking buyers remorse on the whole business transaction. Love the camper, but feel like we were taken for a ride. UGH

Pchris · 07-02-2019, 08:40 AM

Quote:

Originally Posted by Christiben

Anyone have opinions about purchasing extended warranties? We did it and now I am thinking buyers remorse....
Actually, I am thinking buyers remorse on the whole business transaction. Love the camper, but feel like we were taken for a ride. UGH

No worries. Felt the same way. Our warranty has paid off. Go out and use your RV and make the best of it.

**Mr. Dan** · 07-02-2019, 08:47 AM

I paid $1800 for a 5-year extended service contract. It has paid off $4200 (rounded) in repairs. The last repair for $1820 was approved two days before the contract expired and was paid after expiration. Some have other stories of small print but mine saved my bacon.

Jim34RL · 07-02-2019, 10:06 AM

I have one on my Cedar Creek and I am money ahead in repair cost with the extended warranty. The problem with my unit is not the Cedar Creek model its self but with the supplier components that all of the RV industry uses. Such as the fire place, a slide awning and the rack and pinon gears sets on one slide. These have all been replaced under the extend warranty and saved me a couple hundred $$ after the extend warranty cost.

Artspe · 07-02-2019, 10:15 AM

I couldn’t get warranty work done during my initial one year period, so I certainly won’t waste my money on an extended warranty.
Having said that, if you can find a decent dealer it is probably ok.

TitanMike · 07-02-2019, 10:32 AM

Quote:

Originally Posted by Artspe

I couldn’t get warranty work done during my initial one year period, so I certainly won’t waste my money on an extended warranty.
Having said that, if you can find a decent dealer it is probably ok.

No extended warranties for me. Perhaps OK for those who don't have the skills or desires to perform their own repairs but I prefer to do my own work wherever possible. This way I can get the work done according to MY schedule, not the Dealers.

A little secret (if you didn't already know), Extended Warranties and all the other add-on's the Salesman pushes when you buy your RV all put extra money in his/her pocket when added to the sale. Salesmen are even evaluated by their managers on their "Add-On Percentage" because it adds profit to the Dealer.

Philkaty · 07-02-2019, 12:18 PM

when we bought our new RV in 2017 we did get it and then found out it started the same day, so we would have paid for it in the first year for nothing, so we canceled it and went with CW. Had it on our last RV and it paid off.

CaptnJohn · 07-02-2019, 12:35 PM

My last three 5ers had no extended warranty. All SOB, money ahead as never needed anything but maintenance.

br23mat8 · 07-02-2019, 12:39 PM

I got one of these for my used RPOD but I am not sure I would do it again; I think the only way it would pay off for me is if something really big went out like ice box. I think mine has a decuctable too???? So think twice especially if you can fix little things.

Stlcaly · 07-02-2019, 12:45 PM

Got Good Sams 5 year deal but stopped paying after two. The two issues we had to pay for were not even close to the extended warranty cost.

jkoenig24 · 07-02-2019, 01:48 PM

Read VERY CAREFULLY. Sellers leave themselves LOTS of "outs". There are requirements for "regular service" that, if missed, gives the seller an out to deny coverage. Whatever a service contract costs, my recommendation would be to put that money into savings and, "self insure".

360true · 07-02-2019, 05:15 PM

Or extended warranty with cornerstone has paid off with our coach. We are full time, so we use our rig every day. In the past five years, we replaced a hydraulic slide cylinder ($800), two 15k a/c units and some more that I can't remember. I think we're are broken even or ahead. Has given us is peace of mind knowing that if something major breaks it will only cost our deductible.

Roberte52 · 07-02-2019, 05:27 PM

Our Freedom Express came with this warranty. We take it in once a year for inspection for around $130 per year to keep the warranty in force. The dealer inspects: Roof - Axles and hub - Furnace – Hot water heater – Suspension and makes any needed repairs and/or maintenance.

babock · 07-02-2019, 05:29 PM

Extended warranties are dealer profit. If you want them to make more money from you, buy them.

**Mr. Dan** · 07-02-2019, 05:32 PM

Quote:

Originally Posted by babock

Extended warranties are dealer profit. If you want them to make more money from you, buy them.

I saw this comment earlier and, while true, it is also true that the sale of the RV also gives the dealer profit so if we're against that, we should not buy the RV.

I don't care if my dealer made a profit on my $1800 contract if it paid over $4200 in my repairs.

babock · 07-02-2019, 05:34 PM

Quote:

Originally Posted by Mr. Dan

I saw this comment earlier and, while true, it is also true that the sale of the RV also gives the dealer profit so if we're against that, we should not buy the RV.

I don't care if my dealer made a profit on my $1800 contract if it paid over $4200 in my repairs.

Read what I wrote...."more money"

You rolled the dice and you won. Most of the time you don't. They don't offer these if they don't know the odds. It's like playing the lottery... great game for people bad at math.

upflying · 07-02-2019, 05:49 PM

I dread sitting through the extended warranty high pressure sales tactics by the finance manager. The first thng out of his mouth was, "do you know how much a refrigertor costs to replace it"? Thanks, I'll take my chances.
The fine print will somehow not cover what you need fixed. The dealer will also have to wait a few weeks while the covered repair is authorized by the extended warranty issuer.
I would put the $3000 you spend on an extended warranty into a savings account and use it if you need it.
I declined the warranty when I bought my TT.

babock · 07-02-2019, 05:52 PM

It amazes me how much people pay for extended warranties on trailers. Compared to the cost of an extended warranty on a truck or car that are magnitudes more complex, seems crazy.

**bikendan** · 07-02-2019, 06:05 PM

I was just thinking.
Could it be that the majority of RVs, aren't as baldly manufactured as RV forums would lead you to believe, IF all these 3rd party extended warranties are being sold by every dealer?
How could these 3rd party extended warranty companies make any money if they have to cover all the repairs that RVs seem to need?
🤯

justpassinthru · 07-02-2019, 06:12 PM

Hi I did the same bought the 5yr extra warranty. Then about 2 months later I decided to cancel the warranty. Called the dealer and told them I wanted to cancel. The business manager emailed me the forms and we filled them out and faxed back to them. The only downfall is the amount of your warranty $ will go back to your finance company and be applied to the principal of the loan. Which was fine for me because I did get my money back and actually reduced the balance of the loan. I guess to each their own. For us we felt better canceling. The only reason we purchased warranty in the 1st place was my daughter and her family were living in it full time with kids. But as things change we canceled after she was on her own.

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