Extended Warranties

[SpeedDemon]

I'd greatly appreciate recommendations regarding what warranty to purchase for my NSX. Factory warranty expires in a couple months. I've read the FAQ already.

The best I've found so far is www.autoservicecontracts.com. $2284 for a 0-deductable, 7-year 100K mile warranty. It's a bumper-to-bumper "named exclusion" type contract (everything is covered unless explicitly excluded).

Anyone have any experience with this company, or could you recommend a different company with a similar deal?

Any thoughts on how this (or other) companies deal with aftermarket modifications? My car will be twin-turboed. If at some point my transmission goes south (for example), will I have to return my car to stock before notifying the warranty company about the tranny? Per one owner's feedback in the FAQ, it sounds like this company physically sends out an adjuster to evaluate the car for major repairs...

Thanks,
Marc


[This message has been edited by SpeedDemon (edited 10 January 2001).]

[This message has been edited by SpeedDemon (edited 10 January 2001).]

 

[ak]

I'm close to purchasing a '94 and am in the same predicament. I looked thru and www.autoservicecontracts.com offered 4 year 50k for $2500 where as http://www.1sourceautowarranty.com/ offered same coverage for $1100. I'm guessing your car is newer so the price would be different. The coverage is about the same except 1sourceauto for some reason only lists front suspension and not rear for their platinum plan. 1sourceauto is definitely cheaper but i'm not sure if it has competent service than autoservicecontracts. I have not decided which to go with.

 

[Number9]

I'd just skip the extended warranty altogether. Whether its cars, stereos, or whatever, the insurance companies just run the actuarial numbers and charge enough to make a profit. So it's normally cheaper to self-insure (though admittedly, this is a high variance bet for an individual, but the correct one from an expected value perspective). So, maybe you should just take the same money, dump it into a mutual fund and use that as the car repair fund...

--twc

 

[Andrie Hartanto]

I bought my 92 2 yrs ago. It's in great condition. since then I've brought the car to the track about 10 times. The only problem that ever occured was faulty V-tec switch ($40) item. I don't think extended warranty worth it for this car. JMHO

 

[nsxtasy]

My car will be twin-turboed. If at some point my transmission goes south (for example), will I have to return my car to stock before notifying the warranty company about the tranny?

Doing so is called fraud.

 

[SpeedDemon]

Originally posted by ak:
I looked thru and www.autoservicecontracts.com offered 4 year 50k for $2500 where as http://www.1sourceautowarranty.com/ offered same coverage for $1100.

AK,

I tried 1sourceautowarranty's web site and they don't list the NSX as a supported car. I gave them a call, and they confirmed that they won't sell a warranty for the NSX as it's an exotic vehicle.

At this point it seems autoservicecontracts has the best deal ($326/year for 0-deductable insurance..) For those who think the NSX won't need any service - the company will refund all your $$ if you make it through the warranty period without making use of the warranty, so there's always that

. You can also get a pro-rated refund along the way.

Anyone know any other companies worth considering?

nsxtasy, it's only fraud if it's reasonable that the aftermarket part caused the problem.


[This message has been edited by SpeedDemon (edited 11 January 2001).]

 

[ak]

I called up 1sourceauto and they quoted me 1100....maybe they thought I was asking about SLX? WTF...I gotta call them and check again..duh.

 

[David]

Aftermarket/extended warranties are developed by companies with a vast array of information on costs and probabilities at their disposal. By definition, if their actuaries calculate that it is a worthwhile package for them to offer, then it is not worthwhile for you to buy.

Do NOT buy it based on any reasoning that involves you saving money. ONLY buy it if the peace of mind it would give you is worth the money you will spend.

[This message has been edited by David (edited 12 January 2001).]