Yep; buying an extended warranty is a crap shoot; regarding if it will be used or not. The main reason why I bought one for this bike, is that I plan to keep it a lot longer than previous bikes I have owned.
Normally, I outgrow and tire of a particular motorcycle by 3 years or so.
21 years Army (retired)
...been everywhere, seen everything, done almost everything.
IBA 80537
True, it is a lot like gambling. Someone who puts a dollar into a slot machine and wins $100 thinks he got a good deal, but the other 99 guys who lost a buck just for the house to break even aren't so sure. Several years ago I read in Consumer Reports that for a typical extended warranty, the manufacturer pays out 17 cents in claims for every dollar it collects in premiums. If an auto or health insurance company had such low payouts (and high profits) they'd get investigated.Originally Posted by willtill
Even though I know they are a terrible deal, I still usually buy the extended warranties. I do it because it incentivizes me to get things fixed right away. For instance, last year my F-150 developed an axle seal leak. Without the warranty, I might have waited a while, then wasted most of a Saturday fixing it myself. But since it was covered I just dropped it at the dealer, got a rental paid for by Ford, and picked it up the next day.
My father has been around bikes for nearly 60 years...he says the only problem I would probably ever have with a GW is the audio system as electronics tend to be substandard on bikes. He said the fact that they offer a three year warranty to begin with indicates their level of confidence in the bike; many factory warranties are only good for one year.
Thoughts?
Former Ride:
2013 F6B Standard, black; sold 7/2019
Latest Addition:
2016 Gold Wing Level 3, red; SCT transmission stuck in manual mode
2019 Miles:
7,900 as of 10/6
I guess if you really care about warranty you will just have to buy used.....
EagleRider is now offering a 1,000,000 Mile Limited Powertrain Warranty
I did not bother to read the entire article nor do I care to. Don't know the cost either, just though it was entertaining news
https://motorcyclemarc.com/big-time-...om-eaglerider/
I've spent most my money on Motorcycles and Women, the rest I just wasted.
I just wish I could get back all the mula I wasted on never used extended warranty's over the last 30 years-I could pay cash for another F6B!.Plus with any Honda warranty it is only as good as the mechanic that will be working on it which with Honda dealers seems to be a real crapshoot.
Very good analysis of the extended warranty deal from Honda and others...It is a shame that the majority of Honda dealers have terrible service techs, most of which are local high school kids that wrench on bike a couple times and think they know what they are doing.....So far I been lucky with my dealer, although they are 125 miles away, as they have a couple of really good, and well trained, GW techs that have many years of experience.....I also found a local small shop, close to my house, that does outstanding work and works mostly on Honda products....Owner also rides a Goldwing and does his own work.......Ride safe
Has anyone else heard that Honda Corp is raising the prices effective April 1, 2017 on the extended warranty? I think I read it on a Goldwing page on Facebook. It could just be a dealer trying to create uncertainty and sell a bunch of warranties.
I have not found evidence of the price increase yet. I too saw it posted on the GW Rider Facebook page. In the same post, a member was selling the extended warranty for $450. I need to buy one because my current factory warranty ends in April. I sent a email to my local Honda dealer to verify cost and any increase. If they say any cost above $500, I believe I will buy mine from the guy posting on Facebook's GW Rider page.
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