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Guess how much an extended warranty is for a McLaren?
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My favorite episode of Men of a Certain Age has the car salesman character making a young girl cry on the negotiations on a Pontiac Solstice. He changes his sales strategy and takes every offer he gets. This clip starts near the end of that episode "Mind's Eye."
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About 40 years ago I had a customer agree to buy a car paying cash with about $1000 profit. It was a car that was in demand and it was a good deal. After he visits with F&I I find out they "sold" an extended warranty. What the dirtbag did was cut the price of the car and add the warranty. I got cheated out of my commission and the boss was OK with that. :mad:
I wasn't there too much longer and it was the last time I sold cars. |
^ that's illegal in CA (and probably most states) and extremely unethical. They did it because the commission to the F&I person was lower than to you.
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I have only purchased 2 new cars. I have purchased one extended warranty (against my better judgement). The extended warranty (on a 2011 Honda Odyssey which I still have) was purchased through the Honda dealer from Fidelity Warranty Services, Inc. for $2000 for 8 years / 100K miles. It covered pretty much everything but I bought it for use in the event of a catastrophic failure (engine or trans failure). At the end of 8 years, if there were no claims you get your money back. I submitted the necessary documents (mileage, proof I still owned it, etc) and received a full refund of the purchase price less $50 for handling. I used the refund for the timing belt/water pump and a new set of tires.
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That’s amazing…didn’t know that they offered such a thing! No lose. +++
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I bought the same 8 year warranty for my 2022 Civic. Almost 3 years on it and it hasn't been back to the dealer for anything. They also told me that if I trade in for another Honda, the remaining years will auto follow to the new one. |
Our 2011 Odyssey has 150+k miles on it now and has only been to the dealer for some recalls for springs under the back seat and to check the driver’s airbag (no work needed) and for the timing belt / water pump at 105k miles. One of the best vehicles we have ever owned.
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Honestly, the only reason I bought an extended warranty was due to all the electronic gadgetry on these new cars. The mechanicals I don't worry much about with Toyota, Honda, Subaru. Not really sure why I worried much about the rest of the stuff on my Rav or Highlander since Toyota has had this stuff on the Prius five ever (even longer than forever).
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Extended warranties on Toyotas and other reliable Japanese cars are much cheaper and hard to pass up if you get a good deal.
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I have a feeling the days of rock solid Toyota and Honda reliability are past. Perhaps more so for Toyota.
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