The Postman
Elkhart, Indiana
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Joined: 03/04/2005
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Hi,
Looking for some advise from RV owners.
Is it a good idea to buy the extended warranty from the Dealer?
We are waiting for our BT Cruiser from RV Wholesalers and they are offering a 5 year platinum coverage from Protective for $7000.
Any advise would be appreciated.
thanks
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Bumpyroad
Virginia
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Joined: 12/01/2005
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say no and it will drop to $3500.
bumpy
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2 many 2
USA
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Joined: 06/25/2015
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Bumpyroad wrote:say no and it will drop to $3500.
bumpy
I have had this happen to me, incredible fortitude on the part of the person selling the rip off program. Check the fine print, most will do everything possible to avoid paying a claim.
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Allworth
Orlando, FL
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Put the money in an interest bearing account (online??) and plan to add $20 per month. You will be ready with a lot less hassel than any of the EW companies give you.
Remember: it is a business. They are in it to take in more cash than they have to put out.
Formerly posting as "littleblackdog"
Martha, Allen, & Blackjack
2006 Chevy 3500 D/A LB SRW, RVND 7710
2008 Titanium 30E35SA; EZ-Lube axles; wet bolts; spring hanger gussetts; BFG Commercial TAs
"Real Jeeps have round headlights"
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Bumpyroad
Virginia
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Allworth wrote:Put the money in an interest bearing account (online??) and plan to add $20 per month. You will be ready with a lot less hassel than any of the EW companies give you.
Remember: it is a business. They are in it to take in more cash than they have to put out.
if he has the spare cash laying around to do that, pay that towards the loan and put the reduction in savings.
bumpy
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gbopp
The Keystone State
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Bumpyroad wrote:say no and it will drop to $3500.
bumpy
Excellent advice.
I think many will advise the OP to not buy the extended warranty because of the exclusions.
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Desert Captain
Tucson
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A lot of good advice here and I agree do not buy the usually worthless warranty. If you do they control all repairs when problems arise... and they will. If you self insure by setting aside money instead of giving it to a third party you decide when and where any repairs get done and they will be working for YOU! This is especially important when you are out on the road vs at home... you do plan to be out on the road, right?
There are lots of stories on the Forums about folks who have been waiting for months for dealer/warranty repairs to be completed. If you are not locked in by any warranty, extended or standard you will be free to take your rig elsewhere.
This method does require the discipline to a actually set aside some additional monies every month in order to grow the fund. Interest rates are currently a joke, you will be lucky to get one quarter of a percent but set the money aside anyway. Stay on top of preventative maintenance and read any warranty that a new unit comes with very carefully so you will know what is {not much} and what is not actually covered.
Good luck.
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Mickeyfan0805
SE Wisconsin
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I agree with others, but I do think the one caveat might be the relative handiness of the purchaser. Some of us will go to great lengths to self-diagnose and fix. For those in that camp, warranties are especially unnecessary. In 8.5 years with our current trailer it has been to the shop 2x - once to replace the tires and the other time to replace an axle. All other issues I have dealt with myself.
If, on the other hand, you are one that will blush at the notion of replacing a toilet seal or repairing a door slide, you either want a warranty (with a bunch of patience) or a financial plan to pay for the issues along the way.
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Lwiddis
South of Lone Pine, California
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I advice...no. $7000 will pay for a bunch of repairs.
Winnebago 2101DS TT & 2020 Chevy Silverado 1500 LTZ Z71, 300 watt solar-parallel & MPPT, Trojan T-125s. TALL flag pole. Prefer USFS, COE, BLM, NPS, TVA, state & county camps. Bicyclist! 14 year Army vet-11B40 then 11A - (MOS 1542 & 1560) IOBC & IOAC grad
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Second Chance
Wherever...
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Did you search the forum before asking this question? It has been asked and answered too many times to count. That said, my wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.
Rob
U.S. Army retired
2020 Solitude 310GK-R
MORryde IS, disc brakes, solar, DP windows
(Previously in a Reflection 337RLS)
2012 F350 CC DRW Lariat 6.7
Full-time since 8/2015
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