Are extended warranties worth the cost?

[dwsdad]

As I rapidly approach the end of my warranty, I'm starting to weigh the cost of an extended warranty. What do y'all think?

[DaveDragon]

Yes if you use it, no if you don't.

All it takes is one expensive item to exceed the costs of the policy.

[nctarheels]

When I started here what it cost to repair/replace items. I realized that a 4 year warranty for $1500 is worth it. I may have paid too much for the warranty but I rest well on long trips.

[Wolfgang]

I never buy any extended warranties on anything. With the money I have saved in the last 20+ years I can afford a major loss and still be ahead.

[katnapinn]

I never buy any extended warranties on anything. With the money I have saved in the last 20+ years I can afford a major loss and still be ahead.
Same here. Knocking on wood now!!!!!! :rolleyes:

[hallzee]

I never buy any extended warranties on anything. With the money I have saved in the last 20+ years I can afford a major loss and still be ahead.
Same here.... Except that it's 30+ years.

[eljeffe]

Pinnacle Warranty on 2000 LT - $695
ABS Unit & Labor - $2300 (my cost: $35 deductible)
Rear Main Seal - $1800 (my cost: $35 deductible + $75 for a new clutch plate)

Total: $4100

Looks like a winning bet to me.

[Wolfgang]

Same here.... Except that it's 30+ years.

Well, lying about my age has become a habit ;)

I said twenty because extended warranties, at least in my business have only been widely available in the last 20-25 years

[dshealey]

I paid $780 for my extended warranty, at the time the bike was totalled they had paid out about $3500, so yes, to me it was well worth it.

I had a 7 year extended contract, only had the bike 4 years, so it was a very good chance that it would have been used more had the bike survived.

If you can get a 6-7 year no mileage limit contract it is a VERY good chance you will come out ahead if you keep the bike for a long time.

[StillJustJerry]

PO bought a top notch policy. Cost me $25 to assume it. New seals, clutch and slave cost $1600 - I paid $0.

I probably would not have bought it for myself, but I'm sure glad someone did!

[ChasnRacin]

TV's, Refrigerators, computers, no way. As expensive as it is to fix this little baby...you betcha! :)

[AlanLT]

I rarely buy extended warranties on anything, but there are a few items where it usually pays for itself (like copy machines).

If my first 19 months/27k miles with an LT are any indication, it's a no-brainer to get the extended for this machine. I've never owned any kind of equipment that has spent as much time in the shop on warranty work. It speaks to how much I love riding this bike, that I would put up with the service hassles. (Man I hate sounding like a Harley rider...) Mostly trivial stuff mind you, but the LT has a lot of trivial stuff to break...Comm unit (on my 3rd, still has issues), CB, windshield adjuster, body parts (3), O2 sensor, rear brake disc (squeal fix), trans leak, speedo/tach issue (still not resolved).

[bonafidebob]

It's like the lottery. You could win, but the odds are better that you'll lose. There's only one group profiting from extended warranties, and it ain't the ones buying them. If you can't afford a major repair the you could think of it as a kind of insurance policy, but in the long run it'll cost you more than it will save.

[bmwusmc]

As stated previously, I usually don't buy an extended warranty but decided to after all the hoopla about FD failures..
Good move for me..Have had the bike in for transmission seal failure and just had the rear bearing replaced..all under warranty..cost 2X what I paid for the extended warranty..
2005 LT has over 75,000 miles to date and I had it since brand new..

[LarryP]

I always buy extended warranties on bikes. Use it once and you'll pay for it. Plus it's a great to have when selling the bike

[GUNTER1100]

Usually do not on most things, but did on an older Jaguar I bought used. I was not going to at first, but the salesman had me call another dealer & inquire how much to replace the water pump on mine... part was $675.00, labor was almost as much. Car had 48k on it when I bought it. The extended warranty was $1500, & covered engine & drive train, electrical & cooling systems, for 5 years & 75,000 miles. First breakdown was blown head gasket. My deductible was $50.00, total repair was $1765.00. Have used it twice since then, & saved almost $4700. Worth the peace of mind.

[beartooth]

Lifetime habit of NOT buying any extended warranties leaves me with enough cash to buy a new LT if necessary. Of course, the 05' just keeps purring along without all the gremlins I read about here.

Just keep riding,

Bruce

[rglassma]

Before I traded my '03 LT for an '05 RT, my extended warranty had covered:

Rear Main Seal Replacement
Transmission Input Shaft Seal Leak
Transmission Output Shaft Seal Leak
Fork Seal Leak

Total Maintenance: approx. 4000.00
My cost for extended warranty: 700.00
Deductables: 200.00

Hmmmm....

On an LT, I can't see how anyone could say it ain't worth it....

Now I have a 6 year extended warranty on my RT... Paid 895.00.. Hopefully I won't have to use it... But, if I do, it will be there.

Good value for me.

[rfhealy]

I purchased a Western Services extended warranty with the 09 LT today. Seven years, unlimited mileage, no deductible. I'll see whether it ends up being a good decision financially. I thought the price was reasonable: $850. However, I decided the cost was worth it so that I wouldn't worry whether the final drive, ABS pump, etc, etc, was going to fail. I wanted to make sure those concerns wouldn't interfere with simply enjoying the bike. While I agree that you should just ride it like you stole it, I haven't yet found the little switch in my head to make that advice work for me!