Should we buy the extended warranty on a used 2013 Honda CR-V?
We are buying a certified pre-owned 2013 Honda CR-V EX with 15,500 miles
from a Honda Dealership. It has 8 months left on its original factory warranty
plus Honda gives us an additional 12 month/12,000 miles in addition to the 7
year/100,000 power train warranty.
The finance guy strongly advised us to buy the extended 7 year 100,000
"bumper to bumper" warranty for about $2,200. is it worth it? I like it for
peace of mind but is it worth an additional 10% of the sale price?
Let me guess - the finance guy works for the dealer. The dealers make a ton of money on these extended warranties. I have never bought one and have never been sorry that I did not. But then again I never buy cars that will need an extended warranty. It is really a judgment call on your part. I personally doubt you will get your money's worth as all the serious problems will start long after 100k miles has past if you maintain the car properly.
Basically a "certified car" is one that has an extended warranty already as part of the higher cost you pay for one. A 7 year, 100k power train warranty covers all the high dollar repairs so the other $2,200 is pure profit for the dealer.
I had a Honda crv and never had a problem with it gave it to my kid I think they traded it with almost 200 thousand miles and never did anything to it but what the manual said I still see it around town so no keep your $ those are almost always pure profit
Thanks for the answers! The finance guy at the dealer said that "according to JD Powers" the advice changed with the 2013 models and all their computer components to purchase extended warranties". We've never bought an extended warranty before but wondered if we should these days.
The finance guys at the dealers are slick, high pressure dudes that make the real profits for the dealer. In my opinion they will lie and mislead you to make their money on everything from security systems to undercoating. Kind of like restaurants where they break even on the meal but make a lot of money on the drinks.
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