“Do I Really Need an Extended Warranty? After All, It is A Honda!”Jan 28th, 2016
If you’re reading this blog post, you’ve either made the decision to buy a Honda (congratulations!) or you’re seriously looking at purchasing one. In either case, you’re on the path to the most satisfying vehicle ownership you could ask for.
Buying a Honda is an excellent step in securing trouble-free transportation. You already know about their highly efficient operation and their history of dependability. So, when you sit down in the finance office with one of our Financial Services Managers to settle all the paperwork, it may come as a shock when you’re presented with extended warranty coverage options. You think to yourself, “Do I really need an extended warranty? After all, it’s a Honda!”
Everyone is aware that new cars come with factory warranty. For Hondas, the new vehicle coverage is for three years or 60,000 kilometres from its initial purchase date, whichever comes first. The purpose of new vehicle warranty is peace of mind that if something goes wrong with your new vehicle, you won’t have to pay to have it repaired.
What does that mean for you as a customer? That means that, yes, even Hondas can have defects or mechanical failures that occur. While they are still incredibly dependable, it is still possible for things to go wrong. Honda warranty takes care of those situations.
What happens when you’ve exceeded the time and/or mileage on your new vehicle warranty? That’s where extended warranty coverage comes into play. Here’s why you need an extended warranty:
- You are protected for unplanned repair costs. Very seldom does anyone set aside a budget for vehicle repairs. They are costly, with part and labour costs increasing regularly. Basic repairs like a wheel hub replacement are easily $300-500 each while more in-depth repairs such as transmission overhaul or replacement can stretch to $3000 or more. An extended warranty covers you against virtually any failure, practically from bumper-to-bumper, for as long as it is in effect and is more cost effective to purchase in nearly every case than the subsequent repairs you could face in the same time frame.
- You can travel uninterrupted. Honda Roadside Assistance is included with all Honda extended warranty plans for your protection. If you are away from home when you experience a breakdown, you’re covered under Roadside Trip Interruption. That means that Honda will put you up for lodging and will reimburse for your meals while you wait for your vehicle to be repaired and will pay for your transportation to your destination and back to your vehicle once it’s ready, or provide a rental car allowance. Think of it as a concierge service – just another way Honda provides complete customer care.
- Extended warranty increases your resale value. When the time comes to purchase your next Honda vehicle, an extended warranty provides added value to private purchasers and to the dealership alike. Honda extended warranties are fully-transferrable so future owners can experience the same peace of mind you experienced when driving your Honda. Car buyers and dealerships are willing to pay extra for that security, increasing the amount you can demand for your Honda vehicle.
- You receive the most reliable repairs. Some extended warranties allow the repair shop to use aftermarket or generic parts if they are more cost-effective for your vehicle’s repair though it’s common knowledge that OEM Honda parts produce the most dependable, long-term Honda repairs. Honda extended warranties use genuine Honda replacement parts for all their repairs, along with the labour cost of a Honda-certified technician. The most knowledgeable people about your car will be putting the most reliable parts in it.
- Your technology is covered. If you’ve owned a smartphone for a couple years, odds are that you’ve experienced some sort of technical glitch. It’s happened to you or someone you know, whether your iPhone needed a hard reset from the Apple Store or you needed a full replacement. Your car’s electronics are different though, because they are constantly exposed to summer heat and extreme winter cold. That temperature fluctuation can and does wreak havoc on electronics. Honda extended warranties cover sensitive, repair-prone devices like touch-screen displays, backup sensors and cameras, and even your factory keyless entry remotes. These items are expensive if you have to pay out of pocket and comprise a large portion of warranty repairs performed.
- Honda extended warranties fight inflation. The cost of parts and labour are ever-increasing – labour rates have nearly doubled in the past ten years. Purchasing an extended warranty is like paying for your repairs up front with no concern about exceeding a claim limit or worrying if repairs costs have increased.
- The warranty payments are simply structured. When you have the conversation with our Financial Services Manager about extended warranty and decide to go ahead with it, you can work the price of the extended warranty into your finance or lease agreement. For a slight increase in your lease or finance payment, you extend the warranty coverage on your vehicle and ensure stress-free vehicle ownership for a much longer time frame. If you decide to pass on it during your vehicle purchase and later decide you’d like to obtain a Honda extended warranty, it’s not too late. You can still buy the coverage with easy, interest-free payments for up to 18 months.
While we hope you never have any trouble while driving your Honda, extended warranties provide peace of mind and an assurance that, if troubles do come, you will be looked after in the best possible way.