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Open Roads Forum  >  Beginning RVing

 > Extended Warranty: Why do I need it?

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ApexAZ

Gilbert, AZ

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Posted: 09/10/21 04:16pm Link  |  Quote  |  Print  |  Notify Moderator

Hi all,

We just got approved for financing on a Fuel toy hauler with an agreed upon price OTD. The F&I gentleman just called us to tell us about the approval and the rate. Then he told me the payment and I was surprised to hear it was higher than I had expected at that rate.

Of course with some probing I learned he priced in a 7 year extended warranty. I am reluctant to purchase these on vehicles in general. My understanding is dealing with warranty work on RV's is not as easy or convenient as it would be on an automobile, especially in the current supply constrained world we live in. I think no matter what 7 years is probably more than we want, but would maybe 2 or 3 years be beneficial? I've read that most major things are going to break in the first year and to expect it to be in the shop for a significant period of time in that first year. I've also read most people fix a lot of their issues because the warranty is such a pain to begin with.

For these reasons I am thinking it's not worth paying for an extended warranty, but maybe I'm wrong?

Thanks,

Brian

Lynnmor

Red Lion

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Posted: 09/10/21 04:22pm Link  |  Quote  |  Print  |  Notify Moderator

You are not wrong. If you get that over-priced warranty, there is a 100% chance you will be out that amount of money.





Grit dog

Black Diamond, WA

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Posted: 09/10/21 04:51pm Link  |  Quote  |  Print  |  Notify Moderator

You’re tracking straight. Ext warranty is an upsell.
I’ve never had warranty work done on a RV. I’ve never had any work done on a RV at dealer or other shop/mechanic. So can’t comment on the validity of poor warranty service but it’s certainly plausible.
It’s a big discussion here. I’m a no warranty, but used, save the money, do it myself person. Others aren’t.
But regardless of where you’re at on the DIY spectrum, I’d not buy an extended warranty.


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Second Chance

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Posted: 09/10/21 04:58pm Link  |  Quote  |  Print  |  Notify Moderator

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.

Dave Ramsey and Clark Howard have commented on these plans many times, too. The standard seems to be that 80% of extended service plan revenue goes toward commissions and marketing. Only 20% goes toward paying for actual repairs, which means most people are getting a really bad deal. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.

Rob


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gbopp

The Keystone State

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Posted: 09/10/21 05:07pm Link  |  Quote  |  Print  |  Notify Moderator

Ask the dealer for a blank copy of the po!icy. If they give you one, read it and find all the exclusions.
Then make your decision.
I wouldn't buy one but, some forum members had good luck with them and have come out ahead in the end.

dodge guy

Bartlett IL

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Posted: 09/10/21 05:15pm Link  |  Quote  |  Print  |  Notify Moderator

Skip it. Most stuff that breaks on an RV happens in the first few years. And those are usually nick.e and dime type stuff. An AC unit is about $1100 installed. A fridge can be the most expensive, but those have come down in price.
Take that extra money and use it for trips. Or save for IF something breaks!


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MitchF150

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Posted: 09/10/21 06:25pm Link  |  Quote  |  Print  |  Notify Moderator

Wish I had saved the money when I did it on my new F150 back in 2014 when I bought it brand new.. Just handed them an extra $1700 and this was the Ford EXP protection plan or whatever it was... Anyway, never needed it.

Was offered those on my first RV back in 2003, declined. Offered it on my current RV in 2019, declined.

Never needed it on the 2003 and nothing on the 2019 either. I did have 'issues' that I just fixed myself and no big deal.

In the end, if you get past the first year of 'factory warranty' you should be okay in general..

Sure, things break and things fail.. If your crystal ball is telling you everything is going to break on your rig, get the extra insurance.. (like was said, it's NOT an extended warranty)

Just like any insurance, they can deny your claim for any reason and cause you more grief then just fixing the **** thing and moving on with life..

I get phone calls that my trucks factory warranty has expired and I need to renew it... ha, ha... [emoticon]

Do whatever lets you sleep at night and go from there.. [emoticon]

Mitch
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bgum

South Louisiana

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Posted: 09/10/21 06:52pm Link  |  Quote  |  Print  |  Notify Moderator

You should tell the dealer that you don't want any any see if you get the agreed upon deal.
You should also let them know you don't appreciate them adding to the deal. Do a good exam of the rig and get everything fixed before anything changes hands. That means tradein or deposit. Only take delivery and sign papers after all is fixed.

stickdog

Somewhere, USA

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Posted: 09/10/21 07:59pm Link  |  Quote  |  Print  |  Notify Moderator

If you have more money than ability and time it might and I say might, be worth the money.

Never bought one, never will.


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MarkTwain

Northern, Ca. , USA

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Posted: 09/10/21 09:13pm Link  |  Quote  |  Print  |  Notify Moderator

Second Chance wrote:

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.

Dave Ramsey and Clark Howard have commented on these plans many times, too. The standard seems to be that 80% of extended service plan revenue goes toward commissions and marketing. Only 20% goes toward paying for actual repairs, which means most people are getting a really bad deal. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.

Rob


Totally agree %100. Warranties are total scams and do not benefit the RV owners. Save your money!!!!

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