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I’m a first time car buyer trying not to make rookie mistakes. I'm buying a CPO 2016 CRV Touring with 56k miles. The Honda dealer is offering for about $1300 a Honda Care extended warranty that would take me to summer 2024 (don't expect to exceed the mileage cap by then). So it would extend the powertrain warranty by a year and extend the non-powertrain warranty by three years. Worth it?
 

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2011 Honda CR-V EXL
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Think of Las Vegas when you think of extended warranties. It's a crap shoot. Keep in mind the house always wins. A lot depends on how you treat your equipment. If a part of the machinery has survived infancy there's a good bet that it is a good and not a faulty part. With the proper care and maintenance it should last a long time. If a part is faulty and fails because of the fault it should happen in it's early stages of use and covered by the original warranty. As I said, it's a crap shoot. I'm soon to be 86 years old and I've never bought an extended warranty on any vehicle or item I've purchased and I have yet to regret it.
 

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I have a 16, they didn't have many problems, not many threads about them here due to that.

I never get extended warranties, they rarely pay off. I'd rather put that money away and use it for a potential repair in the future if needed.
 

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2019 Acura RDX Aspec
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I thought you can only buy Honda Care on New Hondas only, is it true?
whenve gotten it the reps have always said it had to be the first 90 days or under xx miles but comments here people get it all random years and miles

cpo hondas already have extended powertrain warranty so i rsonally would save the $1500 plus defuctible
For a major issue

i used to do hondacare and now i just rely on standard warranty and past that i have MBI ins via geico for the next 3/4yrs past that

i havent kept a car more than 2/3yrs EVER but planning to
Demote the crv to second car if my wifes job ever takes her work truck away haha
 

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2017 CRV Touring - Pearl White w Black Interior
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Think of Las Vegas when you think of extended warranties. It's a crap shoot. Keep in mind the house always wins. A lot depends on how you treat your equipment. If a part of the machinery has survived infancy there's a good bet that it is a good and not a faulty part. With the proper care and maintenance it should last a long time. If a part is faulty and fails because of the fault it should happen in it's early stages of use and covered by the original warranty. As I said, it's a crap shoot. I'm soon to be 86 years old and I've never bought an extended warranty on any vehicle or item I've purchased and I have yet to regret it.
Actually, for extended warranties from manufacturers... (forget 3rd party warranties) .. the house breaks even + a small profit. Evidence: the fact that you can shop online for HondaCare policies at much lower rates than offered by many dealers at point of sale, AND often get price matching from the point of sale dealer when you rub their nose in it. The lowest cost price for a HondaCare policy from a dealer (typically an online dealer in another state) = true price from Honda + nominal dealer markup.

Data on warranty claims on new vehicles shows that even the best brands will encounter 1.5 warranty claims in the life of the vehicle. And given most defects in modern vehicles are very expensive components and labor.... they are much better odds than gambling in Vegas.

Dealers on the other hand... clearly sell them at high markup in many cases... so it is low hanging profit for the dealer.

The reasons vehicle manufacturers sell their own branded extended care policies is that it creates a lot of good will, trust and brand loyalty... and unlike 3rd party warranties.. it keeps any service need under warranty between owner and manufacturer (in this case Honda).
 

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The house might make a 'small' profit but that will be after they paid the sales rep a pretty nice commission for selling it.
 
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