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Honda Extended Warranty
A Honda Extended Warranty is an optional and extra warranty that you may want to purchase for when the Honda manufacturer's warranty runs out. A Honda Manufacturer's warranty will cover your vehicle for 36,000 miles or 36 months whichever occurs first. Some parts may have separate coverage. These parts will also depend on which Honda model that you purchase. A Honda vehicle owner can purchase an extended warranty at the time of the new vehicle purchase or before the manufacturer's warranty has run out. Let's take a look in more detail at the Honda Extended Warranty.
There are different components of extended warranties with Honda vehicles. These 3 components that I'm about to go over are standard for most warranties of manufacturers. Let's take a look at the three main components of the Honda extended warranty.
If you want to receive the most extensive power-train cover, then you may want to consider the Premier coverage. The Premier Honda Warranty will cover the power-train components for life. You will receive the following coverage with Premier coverage:
If you purchase a Honda extended warranty and sell it before the warranty is up, it is transferable to the new owner. The same goes for if you buy a certified used Honda vehicle with an extended warranty. An extended warranty generally makes your vehicle more valuable than if it was not covered under warranty. While the Bluebook price may not reflect a higher value, wise buyers should see that they are also getting an extended warranty thrown in the deal.
An added benefit of having an extended warranty is you will also get rental car reimbursement, manufacturer’s deductible reimbursement, towing, roadside assistance, and travel interruption. While these may not seem like big deals at the time of purchase, if you have a breakdown, you may just be very thankful that you purchased an extended warranty.
An extended warranty is much like purchasing any kind of insurance. Buying an extended warranty is like buying a safeguard for when unforeseen repairs come up. If you are not a risk-taker, an extended warranty is a great choice. Or maybe you don't keep enough in an emergency fund to cover unforeseen repairs. Whatever the case, an extended warranty may take the stress away. Even if you never use it, it may make you feel better to not worry what might happen if you need a costly repair. That in itself may make an extended warranty valuable to you.
Of course, the main reason to buy one is that it will cover repairs if needed and save you money. The average rate for a mechanic, is around $100 per hour. Because an extended warranty can be financed into your monthly bill at the time of your Honda purchase, it makes future repairs affordable.
Here are some other reasons that you should buy an extended warranty:
The Honda used car warranty is also referred to as Honda certified pre-owned vehicle limited warranty. This warranty will provide power-train coverage for 7 years or 100,000 miles, whichever occurs first. This same warranty provides non-power-train coverage for 1 year or 12,000 miles to 4 years or 48,000 miles, whichever occurs first.
Let's take a look at some things to consider when you are contemplating purchasing an extended warranty:
On the Honda official website, you can select the type of vehicle that you'd like and then view the warranties. Because the CR-V is such a popular model of the available Honda Vehicles, I'm going to go over in detail what is covered with the CR-V warranties. There are 4 different CR-V models to choose from. Those are the Honda LX, Honda EX, Honda EX-L and Touring. Let's take a look at what is covered for all of the Honda CR-V models.
The power-train warranty for the CR-V is covered for 5 years or 60,000 miles, whichever occurs first. Honda will repair or replace any part that is defective in material or workmanship under normal usage. All repairs for the power-train warranty parts will be free charge. The following is a list of what's covered for the CR-V power-train warranty:
Some parts have separate coverage under detailed descriptions in the warranty booklet. There are many models of Honda vehicles, so the parts covered may vary from model to model. The Honda website has detailed warranty information for each model covered. Simply go to the website, select from a drop-down menu which vehicle warranty that you would like to look up and then search the covered parts there. You will also be able to view which parts are not covered for each model. For the most part, parts that are covered under the warranty are installed free of charge.
In short, yes, you can buy an extended warranty after purchasing a new Honda vehicle. But when you go to buy a new Honda, chances are good that the dealer will try to sell you an extended warranty that day. For the dealer, they obtain the sale early and get their sales perks if you buy it right away. For the consumer, it may be of benefit to buy the coverage right away, because it can be calculated into monthly payments. But keep in mind, that you can purchase an extended warranty, anytime before your manufacturer's limited is up. However, you may find that the cost increases as your car gets older. Also, inflation may have increased the cost of the extended warranty if you wait to purchase it.
If for any reason you change your mind and want to cancel your Honda extended warranty, you can do so if you haven't used any of the warranty services. You will have to make the cancellation within 60 days of purchase to receive a full refund. Make sure to contact your Honda dealership without delay when or if you decide to cancel your policy.
Deciding whether or not to purchase an extended warranty with your Honda vehicle is a decision you get to make. You can either make that decision when purchasing a new Honda vehicle or make the decision before your manufacturer's warranty runs out. I've gone over things to consider about extended warranties and benefits to purchasing one. Remember that not only will an extended warranty help you while you own the vehicle, but it also makes the vehicle more attractive if you go to sell it. Honda warranties are transferable from owner to owner. I sure hope that this information about Honda extended warranties will make your decision about whether or not to purchase one, easier.
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