The extended warranty is a "crap shoot" in most cases..Very few that buy them ever use it...Yes, it has paid for itself on some occasions, but for the most part it is a waste of money unless one has a few hundred bucks laying around and nothing to do with it....JMHO
I've had an extended warranty on 3 motorcycles, a car, and a truck. On the bikes I never used it. And it isn't like I don't ride -- on my '98 Valkyrie, I had ridden over 100,000 miles when Honda's 7 years of coverage expired.
For my car and truck I have used the warranty, but in both cases the cost of the warranty exceeded the cost of the covered repairs, even including the free rental car they provided. The 'peace of mind' was nice, but that came with a price! It's been said the manufacturers don't sell these to lose money, and my experience has validated that.
If you do buy one, make sure you shop for a good price online, because the markup for the dealer is huge. I've always found that you can get the exact same manufacturer's extended plan from online dealer for about half the list price. That's the same for cars and trucks. I got my Ford ESP warranty from a dealer in Minnesota for half of what the dealer quoted.
All the extended warranty's I have purchased and never used add up to a nice large down payment on a new Wing.Some people need the peace of mind they feel a warranty gives them and I say if that floats your boat go for it.Me I'm done with them and all the dollars lost..My larger concern is that how many Honda dealers have a real well paid certified Goldwing mechanic on staff warranty or not?Thats the real crap shoot.
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