I need to make a decision in less than 24 hours about extended warranty

[JamieGeek]

Originally Posted by TimmyB

Duly noted.

The guy who did our orientation today was a big fan of both Sumo Springs and front end stabilizers. I didn't realize they cost as much as he said they were, though! About $2k for the Sumos, $1k for the stabilizer.

If you only do the fronts Sumos are much cheaper than $2k (only $138 on Amazon).

[TimmyB]

Originally Posted by JamieGeek

If you only do the fronts Sumos are much cheaper than $2k (only $138 on Amazon).

Ok, that's a bit more reasonable. How much would someone charge me to install (best guess)?

[JamieGeek]

Originally Posted by TimmyB

Ok, that's a bit more reasonable. How much would someone charge me to install (best guess)?

The fronts take less than 30 minutes..whatever minimum they charge (you can do it yourself if you have a jack they are really easy).

[TimmyB]

Originally Posted by JamieGeek

The fronts take less than 30 minutes..whatever minimum they charge (you can do it yourself if you have a jack they are really easy).

So, alignment first then these. Sounds more reasonable. Thanks, Jamie.

[TerryJames]

Checked all the posts, maybe I missed it ... what MH did you buy, Timmy?

[TimmyB]

Originally Posted by TerryJames

Checked all the posts, maybe I missed it ... what MH did you buy, Timmy?

Sorry, Terry. That was in a different thread!

We got a Vegas 24.1, 2019.

Guess I better change my sig, eh?

[Squerly]

Originally Posted by TimmyB

Sorry, Terry. That was in a different thread!

We got a Vegas 24.1, 2019.

Congratulations TimmyB.

[kletskop]

Buy a Thor? Buy the ESP!

[TimmyB]

Originally Posted by kletskop

Buy a Thor? Buy the ESP!

Probably sensible!

[KBlanchard]

Originally Posted by TimmyB

I know this subject has been discussed ad nauseam but my dealer is giving me a choice that's making it a little more difficult than I had planned. We are picking up the MH tomorrow (Wed, 5.29.19) and here are the vitals:

If I simply get the coach, no add-ons, the price OTD is $77622. At 4.89%, the payment is $609.40.

The five year ESP has been "lowered" to $4444, but they will also buy-down the interest rate on the loan to 4.39%, meaning financing $82066 at 4.39%, for a payment of $623.20, which is $13.80 per month more than I would be paying originally. Over the course of 15 years, if I actually took that long to pay it off (not planning on that), we are talking $2484 more in total payments.

It covers everything with only the very few exclusions that he listed off for me, and those were things that I would not expect to be covered anyway (tires, wheels, exhaust, paint, trim, and consumables, like brake pads and rotors, wiper blades, etc.) It extends the powertrain out from 3/36 to 5/60.

I hate throwing money out the window, but being that this is my first motor home and I don't have any DIY resources available to me, I am very tempted.

Help me through this, if you can, please.

Thanks for your thoughts!

Tim

I would not purchase an extended warranty. Look closely, the warranty favors the seller. Run some “scenarios-what if’s” and you will
Soon find that the extended warranty is useless.

[Golfbum18]

Originally Posted by TimmyB

I know this subject has been discussed ad nauseam but my dealer is giving me a choice that's making it a little more difficult than I had planned. We are picking up the MH tomorrow (Wed, 5.29.19) and here are the vitals:

If I simply get the coach, no add-ons, the price OTD is $77622. At 4.89%, the payment is $609.40.

The five year ESP has been "lowered" to $4444, but they will also buy-down the interest rate on the loan to 4.39%, meaning financing $82066 at 4.39%, for a payment of $623.20, which is $13.80 per month more than I would be paying originally. Over the course of 15 years, if I actually took that long to pay it off (not planning on that), we are talking $2484 more in total payments.

It covers everything with only the very few exclusions that he listed off for me, and those were things that I would not expect to be covered anyway (tires, wheels, exhaust, paint, trim, and consumables, like brake pads and rotors, wiper blades, etc.) It extends the powertrain out from 3/36 to 5/60.

I hate throwing money out the window, but being that this is my first motor home and I don't have any DIY resources available to me, I am very tempted.

Help me through this, if you can, please.

Thanks for your thoughts!

Tim

Warranties are not all bad. We get them. We got two new coaches over the past few years and when we traded, we got the remaining money back in a refund minus the time used. We got a used one this time since it had all we wanted. (if you get it right the first time, you're maybe the first person to do that. LOL) I asked some RV techs and they said that the Good Sam is one of the better ones...not perfect but better than most. ***One thing about warranties, be sure to get annual inspections done....roof in particular because the fine print stipulates you need that.*** Even on a new Thor, the roof protection from leaks is only good for 90 days....yup....90 days and then you're on your own. An EW adds to that if you maintain the roof and get it inspected annually in most case. Also, keep up with maintenance items like oil, lube etc. Most say it's ok if you do these things, oil lube filter, just have a record. A new coach has built in one year....3 on the engine etc but you need the warranty on the box items...window leaks, systems like cooling heating etc. They are pretty good. I used them and paid nothing for several big dollar items....not big items but by the time you add over 100 bucks per hour to do them, they add up. Despite all the bad talk about warranties, I have an EW on mine...I've known others that have used them and they help. Again, not perfect but what is. Ever try to cash in on homeowner policies? Same thing....fingers crossed but otherwise, you're in for the whole tab....labor, parts etc. It's like anything else with insurance, you roll the dice and remember, ANY insurance, home, car, life is based on stats that are in their favor....if you have insurance, you are playing with house stats but sometimes, you win. I'd get the warranty. Many will let you cancel after a time period if you think you don't need it....check into that. See if you can cancel and get back the remaining time. Ya, it's money but with an RV, chances are you'll spend it with insurance or at the shop one way or another.

[Mckro05]

I would go for it... I used mine once... almost already worth the 2500 the warranty costs. Funny tactic with the lower interest rate... might want to fight for it if you decline the warranty!

[bobj73]

I would check and see what the chassis warranty covers. Ours in on a ford f53, 6 year 60000 mile on the drive train .

[dkoldman]

Originally Posted by Mckro05

I would go for it... I used mine once... almost already worth the 2500 the warranty costs. Funny tactic with the lower interest rate... might want to fight for it if you decline the warranty!

I think this argument is without a right answer that all will follow or understand. It is like trying to persuade someone who spends hundreds on lottery tickets. The system is designed so there are winners or enough money being flash to rake in millions if not billions of dollars. The casino gambler, lottery ticket buyer or extended service plan buyer can always say if I don't buy in, I have no chance of winning or being protected if something happens. All that is true. But the mathematics in all of those situations says you will lose money on that investment 99% of the time.

But make no mistake, don't confuse a deal with the norms. i.e. if dealer throw in 5 year ESP for $1,000 more, I would take, but the $4k - 6k stuff is absolutely incredible that people are willing to pay. If I was that unsure about the quality, I would NEVER buy the product.

[Golfbum18]

Originally Posted by dkoldman

I think this argument is without a right answer that all will follow or understand. It is like trying to persuade someone who spends hundreds on lottery tickets. The system is designed so there are winners or enough money being flash to rake in millions if not billions of dollars. The casino gambler, lottery ticket buyer or extended service plan buyer can always say if I don't buy in, I have no chance of winning or being protected if something happens. All that is true. But the mathematics in all of those situations says you will lose money on that investment 99% of the time.

But make no mistake, don't confuse a deal with the norms. i.e. if dealer throw in 5 year ESP for $1,000 more, I would take, but the $4k - 6k stuff is absolutely incredible that people are willing to pay. If I was that unsure about the quality, I would NEVER buy the product.

I agree with you that the stats are rigged against you but I don't think your "99%" is accurate. If it was that high....no one would buy....probably higher than 50 50 but not into the 90s.....just a thought

[mountainsam]

I buy extended warranties because my wife insists. In fact I think she wishes she had bought one on me.

Seriously, what matters is what you feel comfortable reaching in your pocket a thousand miles from home for. I personally would rather let the warranty folks do the bickering with the repair shop. Not much difference than having tow service. Just a smart way to travel in MHO.

[VJRocky]

Originally Posted by TimmyB

I know this subject has been discussed ad nauseam but my dealer is giving me a choice that's making it a little more difficult than I had planned. We are picking up the MH tomorrow (Wed, 5.29.19) and here are the vitals:

If I simply get the coach, no add-ons, the price OTD is $77622. At 4.89%, the payment is $609.40.

The five year ESP has been "lowered" to $4444, but they will also buy-down the interest rate on the loan to 4.39%, meaning financing $82066 at 4.39%, for a payment of $623.20, which is $13.80 per month more than I would be paying originally. Over the course of 15 years, if I actually took that long to pay it off (not planning on that), we are talking $2484 more in total payments.

It covers everything with only the very few exclusions that he listed off for me, and those were things that I would not expect to be covered anyway (tires, wheels, exhaust, paint, trim, and consumables, like brake pads and rotors, wiper blades, etc.) It extends the powertrain out from 3/36 to 5/60.

I hate throwing money out the window, but being that this is my first motor home and I don't have any DIY resources available to me, I am very tempted.

Help me through this, if you can, please.

Thanks for your thoughts!

Tim

I'm a little late seeing this post but here is my 2 cents on the subject: I bought my 2014 Hurricane gently used with only 2800 mile on the odometer. I did a thorough check on the systems before signing on the dotted line. Everything checked out ok. I was not sure if I wanted the extended warranty but did take it since there were so many different systems that could fail. On my way home with the unit, the AC failed. Had it back to the dealer who serviced it (guess they sent it out and just refilled the coolant). Again on the way home, no air after a while. Since I lived more than 50 miles from the dealer, I was able to bring it to my local shop who did repair the AC. It turned out to be a 5 cent o-ring in the compressor that leaked. The total was over $450 dollars. I paid a $50 co-pay. This spring my owning failed. Again I brought it to my local RV repair shop. They replaced the motor to a tune of over $4000. These are local longtime dealers that I trust. Again my out of pocket was $50. So, I have recovered the original cost of the extended warranty thus far. I am very handy with mechanical work all my life, and so I do repair some things myself but these two things were out of my expertise. Good luck with your decision if you haven not done so already.

Vince

[Vbates]

We wouldnt, but if you do you better read it very slowly word for word. Or if you know a lawyer have him read it.

[RichRob]

I debated the same issue. I financed through another lender at 4.25%. I looked into coverage and the best deal I received was five years for $3,500 with a $250 deductible for each repair trip. Based on that amount, If I go twice over the period of 5 years my cost would be about $4,000 total. If I don't ever need a repair that doesn't meet the deductible, then the coverage was just peace of mind. Instead I am banking $125 per month and will use that money only for RV repairs. Thats $1,500 per year and will have met my estimate of $4,000 in less than three years. If I don't need all the cash, then I have a fund to use toward a vacation. I must also add that my hot water heater, grey line pipes from tank, and kitchen faucet were all replaced due to poor winterization by Camping World Berkley (they paid for everything), so those are items already replace.

[dkoldman]

Originally Posted by Golfbum18

I agree with you that the stats are rigged against you but I don't think your "99%" is accurate. If it was that high....no one would buy....probably higher than 50 50 but not into the 90s.....just a thought

I don't have empirical data to prove that 99% of all that buy a lotto ticket, put money in a slot, or purchase a warranty will come out on the short end. We can agree that it is less than 99% but well over 50/50. However I was making a point about how futile it is to convince someone as to why they should NOT buy the normal asking price for any extended warranty. Note: There are winners. Enough winners that can keep the system working because reality is you could be the next lotto winner, jackpot winner, or just your luck your slide went out.

I have stood in line at stores where some customer bought a $29 toaster and paid $33 for 5 year warranty. It is madness to me.

My son has a 2014 Chevy Camaro that Mfg 4 yr/100k warranty on powertrain expired Dec 2018. 2 months ago Chevy dealership said 3rd gear synchros went out and they wanted to replace Synchros and gears $4k expense. I cried but GM Customer Support (not the dealership stepped in) and paid 2/3rds of cost because they say despite it was out of warranty, the miles were well under the 100k. So I am only out $1,200 bucks and new transmission with 3 years warranty added by GM. The ESP warranties are $4k and up, and they will NEVER come to your defense in any repair let alone anything that may be out of warranty.

With that said, I have never purchased an ESP and never had any regrets. I once bought a 30 ft Chaparral boat that previous owner transferred his ESP to my name. I used the warranty once when the cabin fridge went out. The warranty company said it was covered, but I had to bring the refrigerator to them. The boat was at Marina in water and I had no trailer. $500 to just get it out the water. So I get my tools and managed to get it out and take it to the repair place. After 6 weeks, they tell me the compressor went out. I am like this is great because after the $100 deductible I figure to get a brand new fridge. Nope. They would not give me the equivalent repair value to get another , so I had to allow them to put a brand new compressor on the old fridge. Ultimately they did what they were suppose to have done, but had I bought that boat brand new, I would not have had the ESP and when that fridge went out, I would have had a brand new state of the art fridge plus more money in my pocket.