Dealer friend recommends: don't buy extended warranty
 

Harry Krause wrote:
Here's something to think about.

The warranty on my Yamaha F225 expires this year, and I've been
wondering whether to buy the three year extended warranty for $2200.
It seemed awfully expensive, especially since I really haven't had to
spend a dime on the engine, other than pre-season and post-season
winterizing and recommissioning.

So I called a Yamaha dealer friend up north for advice, rather than my
selling dealer. I figured he'd give me the skinny on whether the expense
was worthwhile.

"No," he said. "Don't bother." "We haven't had enough repair work on
F225s to keep anyone busy here, and some of these motors have 600 hours
on them. The odds are well on your side."

Cool.

Next year, I am told, there is a slight chance that Yamaha's new block
300 hp four stroke will be on the market. If I still have Yo Ho, that'll
be the upgrade I want.

Extended warranties are almost always financially bad. If you were to
take the money that you put into such a warranty, and just stick it in
the bank, you'd be better off.

Dealer friend recommends: don't buy extended warranty
 

I used to buy them on American cars... .I once booked 7K against a
warranty on my Ford Taurus... Needed a new engine and 2 trans and an AC
inside of 3 years. Since then I paid about 6K on warranties and NEVER
used them.... I guess they are even.... now I only buy one if I am silly
enough to buy the FIRST year of a new engine.





basskisser wrote:
Harry Krause wrote:

Here's something to think about.

The warranty on my Yamaha F225 expires this year, and I've been
wondering whether to buy the three year extended warranty for $2200.
It seemed awfully expensive, especially since I really haven't had to
spend a dime on the engine, other than pre-season and post-season
winterizing and recommissioning.

So I called a Yamaha dealer friend up north for advice, rather than my
selling dealer. I figured he'd give me the skinny on whether the expense
was worthwhile.

"No," he said. "Don't bother." "We haven't had enough repair work on
F225s to keep anyone busy here, and some of these motors have 600 hours
on them. The odds are well on your side."

Cool.

Next year, I am told, there is a slight chance that Yamaha's new block
300 hp four stroke will be on the market. If I still have Yo Ho, that'll
be the upgrade I want.


Extended warranties are almost always financially bad. If you were to
take the money that you put into such a warranty, and just stick it in
the bank, you'd be better off.

Dealer friend recommends: don't buy extended warranty
 

Ed wrote:
I used to buy them on American cars... .I once booked 7K against a
warranty on my Ford Taurus... Needed a new engine and 2 trans and an AC
inside of 3 years. Since then I paid about 6K on warranties and NEVER
used them.... I guess they are even.... now I only buy one if I am silly
enough to buy the FIRST year of a new engine.





basskisser wrote:
Harry Krause wrote:

Here's something to think about.

The warranty on my Yamaha F225 expires this year, and I've been
wondering whether to buy the three year extended warranty for $2200.
It seemed awfully expensive, especially since I really haven't had to
spend a dime on the engine, other than pre-season and post-season
winterizing and recommissioning.

So I called a Yamaha dealer friend up north for advice, rather than my
selling dealer. I figured he'd give me the skinny on whether the expense
was worthwhile.

"No," he said. "Don't bother." "We haven't had enough repair work on
F225s to keep anyone busy here, and some of these motors have 600 hours
on them. The odds are well on your side."

Cool.

Next year, I am told, there is a slight chance that Yamaha's new block
300 hp four stroke will be on the market. If I still have Yo Ho, that'll
be the upgrade I want.


Extended warranties are almost always financially bad. If you were to
take the money that you put into such a warranty, and just stick it in
the bank, you'd be better off.



I pay annually for a 100,000 mile policy with my Geico Insurance Policy.
I think it started off to be about $50 a year, and is not up to $65.
I have already collected more than i paid into the policy.

On a positive side the insurance adjuster has saved me money from
dealers trying to rip off both myself and the insurance company.

--
Reggie

That's my story and I am sticking to it.

Dealer friend recommends: don't buy extended warranty
 

Ed wrote:
I used to buy them on American cars... .I once booked 7K against a
warranty on my Ford Taurus... Needed a new engine and 2 trans and an AC
inside of 3 years. Since then I paid about 6K on warranties and NEVER
used them.... I guess they are even.... now I only buy one if I am silly
enough to buy the FIRST year of a new engine.

I don't buy new cars, that's just throwing money away, like about 15%
of the vehicle's value as soon as you drive it off the lot. I let
someone else take that hit.