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I have less than 100 miles to go on the warranty of our 2017 CRV. If you bought the extended warranty, do you recommend buying one? Why?

Thanks!
 

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Have never bought an extended warranty. Most financial advisors will advise against them. Basically they are a term insurance policy......a hefty profit center.

There will always be a very few that swear by them because they had to use them. 999 times out of 1000, the insurance companies come out the winner.
 

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I fully believe if you are the type of owner that listens to every noise, checks for leaks and chases down every vibration you come out ahead. I have purchased extended warranty on 5 vehicles and only 1 did I not come out ahead on.

If you do not really pay much attention to minor differences and just keep driving until a severe failure or leak you will probably not come out ahead.
 

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Nope. Ive never broken even on one in the past and that’s kind of the point. I’d make an exception for an aged BMW maybe just because I know them inside out and have the scars to prove it. And also for an aged Range Rover, which have even more shocking quality issues. But otherwise, ill play the odds.
 

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Only you can decide if it's worth it to purchase one for your vehicle.
I tend to keep my vehicles for a long time. I was also concerned about all the electronics on the CR-V and the cost for a possible repair. I purchased a Honda Care plan that offers me 8 years, 120,000 miles with a 0 deductible. The cost of the plan was: $1,170.

One other possible advantage of an extended warranty is the ability to have firmware updates applied.
I'm curious, if the vehicle is out of warranty, and you would like to have a particular TSB applied, say TSB 19-066, "2017-19 CR-V: Center Display Unit Screen Dims or Goes Dark by Itself".
would the dealer charge you for that?
 

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a lot of warranties from the dealer Gap insurance damage a rim covered. never hearing the next statement bill , your insurenace just been raised.. so yeah warranty insurace is all you
 

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I think crv383 said it best. I bought Honda Care on my 16 Pilot but not for my 18 CRV. My thinking on the Pilot was that I intended to own it forever. 3 years later I sort of wish I had not. But now that I've learned of all the issues associated with the CRV (fuel dilution, rear tire cupping, etc.) after I bought it and am experiencing ... I sort of wish I had bought it. :unsure:

Its a personal decision that only you can decide. But rest assured Honda will take in more in premiums that they pay out in claims for a program like this.
 

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I think crv383 said it best. I bought Honda Care on my 16 Pilot but not for my 18 CRV. My thinking on the Pilot was that I intended to own it forever. 3 years later I sort of wish I had not. But now that I've learned of all the issues associated with the CRV (fuel dilution, rear tire cupping, etc.) after I bought it and am experiencing ... I sort of wish I had bought it. :unsure:

Its a personal decision that only you can decide. But rest assured Honda will take in more in premiums that they pay out in claims for a program like this.
So many things aren't covered. The things you mentioned wouldn't be most likely.
 

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I like the extended warranties - AND I keep my vehicles for a long time.

Our '97 CRV HVAC unit stopped providing fresh air (only recycled air) at 85,000 +/- miles. The unit needed to be replaced @ $900.00. We had the extended warranty (paid $800.00) and never had another issue for the next 32,000 miles.

My '07 Ridgeline had an extended warranty and it paid for it's self with several broken motor mounts, an issue with the very complex tailgate and some interior lighting issues.

We purchased the extended warranty for our '16 Pilot but hit a deer and purchased the '18 CR-V Touring - we received a refund from Honda for most of the price paid for the HondaCare.

The current CR-V is very complex and I imagine a new head unit costs WAAAAAAY more than it did 20 years ago.

We have a HondaCare policy for this CR-V which we purchased online (there are threads on this site). I believe we purchased from Saccucci...if you live in FL you MUST buy in your home state).

Best of luck to you.
 

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Have never bought an extended warranty. Most financial advisors will advise against them. Basically they are a term insurance policy......a hefty profit center.

There will always be a very few that swear by them because they had to use them. 999 times out of 1000, the insurance companies come out the winner.
Yeah. Whut he said.

Sent from my LG-H700 using Tapatalk
 

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Throw the money in an index fund instead, and use the gains to pay for any unexpected maintenance.
A single failure of an electronic subsystem in modern CRV --> north of $2000.

A single major mechanical failure outside of warranty in a modern CRV --> north or $4000.

The average cost of a HondaCare extended warranty --> $1200-1500, depending on state you live in and sourcing of the policy.

The average failure rate on modern Honda CRVs --> 1.5 in the normal life of the vehicle (7-10 years)

Growth of an index mutual fund, IF.. you even put the saved money in it to begin with and let it ride --> unknown.. because index funds follow the markets.. and markets go up and they go down. If you expect the money to be there on demand.. you risk taking a loss in selling the index fund. As any good investment planner will tell you.. past performance is no guarantee of future performance.... and "market timing" is a fools mission.


As others have noted.. it is an insurance policy against unplanned failure of one or more mechanical or electronic subsystems outside the bumper to bumper warranty. These policies are risk mitigation policies. Different owners manage the risk possibility differently.

Personally, since 2013, I go ahead and get the HondaCare extended warranty.... because the data suggests in most cases I will break even, or come out ahead. If I do not.. so be it... but if I did not get the warranty and had multiple failures in the time I hold the vehicle (7+ years) I will kick myself. :) Note: Money is not the key issue as I have that in abundance.. it is basic peace of mind no matter what happens, or how often AND total cost of ownership. With a policy in place.. I know my total cost of ownership as it is basically fixed at time of sale. But... at the end of the day.. this is a risk analysis and peace of mind decision that each owner must make for themselves.
 

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...........at the end of the day.. this is a risk analysis and peace of mind decision that each owner must make for themselves.
Well said..........and since Honda has our Gen 5 V covered for another 3.5 years (6 yrs/unlimited miles) on most of the major components, $1200-$1500 makes a nice jingle in our pockets, giving peace of mind.:giggle:
 

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Honda has our Gen 5 V covered for another 3.5 years (6 yrs/unlimited miles) on most of the major components, $1200-$1500 makes a nice jingle in our pockets, giving peace of mind.:giggle:
I was not aware of this. I thought the basic warranty was 3 years/36,000 miles and the powertrain warranty was extended to 6 years/unlimited miles from 5 years/60,000 miles.
What kind of warranty extension did Honda provide?
 

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I’m saying “most of the major components”, or power train, are now covered for 6 years/unlimited miles on Gen 5 Vs. We’ve had our V for 2.5 years so Honda covers it for another 3.5 years. Everybody pays for factory warranties when they buy their new car.

I never pay additional monies to buy anextended warranty. I’ve never had a major failure on a vehicle. Lucky????.....maybe. I prefer holding onto my money and IF a major failure should occur, I’m prepared to write a check for vehicle repairs or vehicle replacement. Anything to do with a vehicle should never break the bank.
 

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I’m saying “most of the major components”, or power train, are now covered for 6 years/unlimited miles on Gen 5 Vs. We’ve had our V for 2.5 years so Honda covers it for another 3.5 years. Everybody pays for factory warranties when they buy their new car.

I never pay additional monies to buy anextended warranty. I’ve never had a major failure on a vehicle. Lucky????.....maybe. I prefer holding onto my money and IF a major failure should occur, I’m prepared to write a check for vehicle repairs or vehicle replacement. Anything to do with a vehicle should never break the bank.
I get your point, but "major components" now days in these modern vehicles is much more than the powertrain. The powertrain is actually one of the more reliable aspects of vehicles these days. It's all the secondary systems, particularly electronic systems where the risk lays.

Owners considering which way to go on this.. extended warranty, or self-underwriting..... need to understand what is and what is not covered by any warranty beyond the 3/36 bumper to bumper warranty. There is a truck ton of costly systems NOT covered by the powertrain warranty. In the old days, the do-it-yourself owner could buy pretty simple and low cost parts to fix a failure on their own. Those days are gone though with these modern vehicles.

I will say that for the low end trim (LX) there is less risk involved. But take the Touring trim for example... which a good number of us own... even a simple headlight failure is over a thousand dollars, because the LED headlight assembly is pretty much a single FRU + labor... no real ability to do spot repairs. Even do it yourself.. on this headlight... still going to cost north of 800 dollars just for the FRU.
 

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I never buy the extended warranties, but the cost for these Honda warranties would make the decision more difficult.

The older version warranties that eliminated so many things that may fail, then charge a deductible for each occurrence, and even if two repairs are done at the same time they charge a deductible for each one. Made it a terrible purchase.

I’ve never read the fine print on these new warranties though.
 
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