Extended warranty $5000.00
- Thread starter firstone
- Start date
Invizatu
Senior Road Warriors
I just bought a new truck and they tried their hardest to sell me an extended warranty, to the point I wanted to punch the guy. He asked why I didn't want to buy it and my response was.... I have been buying cars, trucks, trailers, boats and lots of other stuff for the past 50 years and never bought one and never regretted it. It's just prepaid insurance to fix something that might never break. It has been a blessing for some people, but it's not for me. I have read that the extended "service plans" that are offered by Good Sams is one of the better ones, but you really need to find out what it covers and what it doesn't. Remember that most stuff like appliances have their own coverage, some as much as 3 years. I think I would just stick $5,000 in a savings account and draw off it as needed. That also seems really high, get a free quote from Good Sam and compare. Good Luck!
dave10a
Well-known member
If you are handy and mechanically inclined you are mathematically much better off to self insure. If you are not able to resolve most problems in your RV you are still marginally ahead to self insure. Keep in mind a selse person is getting a significant monetary incentive and the insurance company is getting significant profit. Personally, I think these extended insurance polices are not a good thing.
iaflatlander
Active Member
There is a reason they push so hard to have you buy the coverage and it isn't to "help you out". I'm with Invizatu, stick the money away and draw on it for repairs (if needed).
danemayer
Well-known member
Service Contracts/Extended Warranties are obviously priced to make profit for the other guy. So why ever buy one? I bought a 3 year policy for our Landmark from Good Sam for $650 2 1/2 years ago. Today I paid the $350 and Good Sam paid $560 for the labor to replace the cooling unit on my refrigerator. Although out of warranty, Dometic provided the cooling unit at no charge as a goodwill gesture. If they hadn't done so, Good Sam would have also covered the parts cost and would probably have paid well over $2000 parts and labor.
You might say that since I paid Good Sam $650 and they paid the dealer $562, I could have done better by saving my money. You'd be right - just barely - so far.
You might say that since I paid Good Sam $650 and they paid the dealer $562, I could have done better by saving my money. You'd be right - just barely - so far.
firstone
Active Member
Good point. Not sure what I am even thinking. I could bank the cash in a oh crap account and if I never use it by my self a new gun.
firstone
Active Member
Two Toes: I was to busy laughing to ask who it was through. They had several deals, the cheapest was $1200.00 for scotch guard. I can do my whole trailer including the bed spread with one can. Tis dealer is shade I got the best deal on the trailer there but I am not going back to them. They even handed out a package on this time share camping place I could go to and get 25 free nights. I looked them up on the BBB and that was the first time ever I have seen a red flashing warning on the BBB. They are doing there customers a dis service by doing this and should be ashamed. I am sure they are making a buck of it by just handing it out.
Definitely money ahead declining that "deal". Good Sam quoted me in the high $100's (like $179?) per year for extended on my coach. Since I'm only 6 months through the initial year's warranty, I'm inclined to wait. I'm also fairly handy, so I'll probably just self-insure. Already have additional socked away for "whatever" might come down the road.
Our dealer tried to push two or three products on us, but when I declined, they just slid the papers aside and continued on. I think it was because I already had my small down payment paid and the credit union already gave their maximum they would finance (we've since paid it off), so any add-ons had to come out of pocket and I told them I didn't have any more to put into the deal (I really didn't at the time).
Our dealer tried to push two or three products on us, but when I declined, they just slid the papers aside and continued on. I think it was because I already had my small down payment paid and the credit union already gave their maximum they would finance (we've since paid it off), so any add-ons had to come out of pocket and I told them I didn't have any more to put into the deal (I really didn't at the time).
You need to see exactly what it is you are buying. An extended contract from Ford for a Diesel is not a bad deal at all when you consider what is covered and what it cost to repair. You also need to factor in how many miles you are going to drive and at what point you trade it in. That is one of the few extended repair contracts I have ever purchased. I would never purchase an extended "service" contract on anything else. Every extended type contract I have seen on a coach is very limited and is strictly to make money for whom ever sells it.
I was fortunate enough to be successful in some heavy negotiating on our 2009 coach and got them to throw in a 5 year contract with my purchase with a $50 deductible. I used it 5-6 times quite successfully, and the company was great to deal with .. Protective. Just bought a new BH (awaiting delivery) and contemplating what to do. My cousin just bought a new Redwood and he is a major shopper - and scrutinizes contracts carefully. He looked at Good Sam ... too expensive. He looked at Protective ... found a little expensive too ... loved what he found in Cornerstone ... which sounds great. I will go with them IF I get insurance.
GOTTOYS
Well-known member
Few if any are worth the paper they are written on. Look at what they DON"T cover and find out the real deal. If a dealer tried to slam me real hard with a service contract, $1,200 Scotchguard or paint protection...I'd probably walk and buy my new trailer from somebody else....Don
durawelder
Member
This is an old thread, but I'll add that I wiggled the sales manager down a little farther on my 1 year old big country than he wanted to go and he ended up putting an xtra ride 3 yr warranty on mine just to say he sold me it. So far I've used it to replace my ac converter, my bedroom air (which they covered a 15k going up from a 13.5), and a repair on my furnace. The price in the contract was $3800 so I'm still a ways behind on it, but I bought it in Oct. 2012 so at this rate I will be ahead. I did buy the trailer at a low enough price that the $3800 didn't hurt me at all. I will also tell anyone that reads this, the way I got them down on my trailer was that it was the end of the month and they wanted to make 100 units and mine was number 99 while he had number 100 on the line and I was dealing directly with the sales manager, so I would say he probably got a bonus for making 100 sales out of his dealership. Especially since he stuck around until 8 pm so I could come do the paperwork after work.
jnbhobe
Well-known member
10-4
danemayer
Well-known member
Hi durawelder,
I'm confused as to how you figure you're making progress toward recovering the $3800. If you bought in Oct 2012, all those repairs would have been covered under the trailer/appliance warranties anyway. Am I missing something besides the upgraded bedroom air?
TheLindsays
Active Member
We usually do not buy extended warranties.. when we bought our Torque it was tempting but was so much $$ over $3k so we declined.. however... when we bought our Ford F250 Diesel we did buy the extended warranty... it covered a lot and was very reasonably priced... so I guess we will just hold our breath with the Torque.. I will say we will be finishing our Rookie year next month and have had very little issues that were fixed.. most were issues that could have been taken care of when the unit was built in QA.. as they were really issues that were small poor workmanship... attaching plumbing... and recently staples under the slide... so lesson for everyone out there... during your walkthrough walk around with the slides out and look underneath it to make sure nothing is binding or torn... so far very happy though..
SeattleLion
Well-known member
We just signed the papers on our new fiver. We did buy a 7 year extended warranty. It is $100 deductible and cost well under $5,000. It covers virtually everything. If we never need it, we will be very happy. You buy insurance to limit risk. Since so many repairs can easily cost over $1,000, it seems worth it to me to limit my risk to the cost of the warranty. Believe it or not, we trust our dealer. This is the 2nd Rv we have bought from them. We could have saved a few hundred bucks at a different dealer, but ours is worth that cost.
If you decide to purchase a extended warranty for peace of mind there are two main items to think about. One is that the price is negotiable. Second is to make sure you buy from a company that has a track record. If one year into the warranty the company goes out of business your warranty is worthless.
Don
Don
