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Well I bought my first ever Honda today. A used 2010 CR-V EXL with 55,000 miles on it. I paid $15,500 and hope I got a fair deal. The car seems to be in great shape. I had it checked out by our local non dealer Honda mechanics, called The Hondaman. They have a great rep around here with Honda owners for being fair priced and honest. They said it looked in great shape and it was OK to buy it. They will most likely be doing the servicing of the vehicle in the future.

This being said, while I was making the deal with the dealer, the inevitable extended warranty talk came up. The plans ranged from basic to primo and costs started at 1500 and went up. I read a Consumer Reports article that said the aftermarket warranties were not really worth it and most people who bought them, never got to use/needed them until after the coverage lapsed due to time or miles.

I tended to agree with them since I bought one for $1700 on my 2004 Ford Ranger and used it once, I believe, for something that wasn't that expensive to begin with. The flip side was the one I bought for my 2000 VW Passat, that got used, but also ran out too soon and would have came in handy if longer.

Long story shorter, did I make a mistake not going with the $2,000 warranty on my new, used, sweet ride? Are there any affordable aftermarket warranties worth buying from a decent company? Should I just leave the 2K in the bank and take care of things as they come up. I am hoping I get the kind of reliability from my new Honda I have been hearing about online and from friends who own them. 12646721_10207408495905464_4153188950402971325_o.jpg
 

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You didn't mention who the warranty company is and how long it is good for. For the most part, I agree about 3rd party warranties and avoid them. I am glad I got HondaCare on my new car.

On a side note, I don't think Honda has the best reputation anymore for reliability. Maybe they used to but there have been too many mistakes made lately. My CRV is marked as average for expected reliability in the future. As a company, they have dropped significantly in ratings they used to rule.

I just looked at Consumer Reports and Honda ranks 8th. Lexus, Toyota, Audi, Mazda, Subaru, Kia, and Buick all rank higher.
 

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Don't bother with the warranty. It's a waste of money, just enjoy your new ride.
 

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Pass on the warranty. Most high dollars repairs don't come until the warranty runs out. I'd be more concerned in seeing the service records.
That will tell you how the car was maintained.

At 55k make sure the tranny fluid was changed, if you don't know have it done. Other that that it's just oil, tires rotations and diff fluid changes up until 100k.
 

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We just picked up another 2009 EX-L, this one with 112,000 miles on it. Very clean. Excellent price too, as it was on a Chrysler/Dodge/Jeep dealer's lot and hadn't moved. I found it interesting how the dealer tried to bake so many extras into the financed price--extended warranty, tire protection, GAP protection, etc., with a grand total of about eight add-ons I did not want. "But it only costs $2/month," or whatever the cost was for each one declined...I ended up chipping the final payment down substantially by dumping all of that junk. These exist merely to give the dealer a profit.

I have read so many complaints about extended warranties alone, having all sorts of exclusions and requirements, that they end up not covering much of anything a normal driver would have. I don't think many let you pick a repair facility either--you have to use only a limited number of shops that might honor it. No thanks. ;)

Take those CR rankings with a grain of salt. I have never trusted their rating or survey methodologies in the past. That being said, I'd rather push a Honda than drive (or be seen in) a frickin' Buick.
 

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An extended warranty is not a warranty at all but it is simply breakdown insurance with all of the exclusions and loopholes you typically find in any insurance policy. It is very profitable because it is high cost and the odds of paying claims out for covered repairs is small. If you take the cost of the policy and put in the bank for repairs, the odds are that you will be far better off by not buying the insurance.

A 70+ year old friend of mine bought a new vehicle a few years ago and bought an extended warranty. He had second thoughts later and asked me about it (I was in insurance claims for over 31 years). I simply asked him how many of the cars he had owned over the last 50 years had a repair that would have been covered by an extended warranty. His answer was "NONE" (and he had owned several European brands). After he had calculated how much money he would have spent on extended warranties and never used, he was a little let down with his latest decision.
 

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Long story shorter, did I make a mistake not going with the $2,000 warranty on my new, used, sweet ride?
In 2010 I bought my 2011 CRV brand new. Because of everything I had read about the very high reliability of the 3rd generation CRV, I didn't even consider an extended warranty. I now have 112,000 miles on it and the only time it's been in the shop for a repair was for the Takata air bag recall. Other than that, it's just been basic maintenance.

I think you'll do fine without an extended warranty on your new to you, 3rd gen.
 

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Take those CR rankings with a grain of salt. I have never trusted their rating or survey methodologies in the past.

Try these guys next time you need reliability stats

https://www.truedelta.com/


I like them because you can compare reliability stats between vehicles. You can also burrow down pretty deeply into the stats to find out details of recurring problems if they exist.

My cars have been part of their reliability data base since they hit the scene about 10 years ago.
 

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Try these guys next time you need reliability stats

https://www.truedelta.com/


I like them because you can compare reliability stats between vehicles. You can also burrow down pretty deeply into the stats to find out details of recurring problems if they exist.

My cars have been part of their reliability data base since they hit the scene about 10 years ago.
I joined and have been using them for the last 7 years or so. It is based on actual repairs.
 
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