As a general rule they do not pay for themselves. Some will jump in here saying they are great and saved them mucho dinero. If that were the case for everyone that buys one they would be out of business. Consumer Reports and Dave Ramsey suggest NO. Put the money into a savings account, add to it once a month, and draw on it when you need a MAJOR repair. Not some minor issue.
I agree purchasing an extended warranty outright but purchasing a service plan is two different things. I pay 98.00 a month for a full coverage service plan with tire protection And gaskets and seals. if I have a flat they bring a replacement tire and replace it on the spot . If any electrical component goes out, engine etc it’s covered. I can cancel it anytime. There is a year and mileage limitation for coverage. I can’t recall the year may be 18 -20 years old limit but the mileage limit is 150k.
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2014 Jayco Precept 31 UL
1997 Four Winds Chateau Sport 23' (sold)
Would not roadside assistance do the same thing for $200 a year or so.
I used to buy the certificates for tires at Discount and they replace a tire for any reason but then I started looking at the number of tires I had to replace in the 50 years I have been dealing with Discount (maybe 3) and realized I had paid for enough tires to outfit every vehicle for most of that 50 years.
Honestly, I don't see much difference between service plans and extended warranties. You are paying in advance for something that "might" happen. Sometimes they work out and sometimes not but mostly not. In 20 + years, four RVs and lots and lots of camping, I have never had to replace a seal.
If you feel better with one then peace of mind is probably worth it for you.
I agree 100 % with CAG in my opinion extended warranties are a waste of money. It's like going to a casino and gambling. If the house doesn't win enough times there is no more casino. I don't blame anyone who wants to gamble on the extended warranty, that's their choice but for me I will save my money. I do most of my own repairs anyway which does help giude my decision...
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2022 33RBTS
Progressive Industries EMS - Hardwired
Equalizer 4 Point WDH
2021 Ford F350 7.3
Air Lift Rear Bags w/ On Board Compressor (Pending)
2016 28BHBE - (Traded and Missed already)
I don't blame anyone who wants to gamble on the extended warranty, that's their choice but for me I will save my money. I do most of my own repairs anyway which does help giude my decision...
I think that's the biggest key, it's more of a "feel good" to have a extended warranty, but for the majority of people, it doesn't make financial sense. When you read the repeated stories of how long people's rigs sit at the dealer, WAITING to be repaired under warranty, then only to find out when they get the rig home, problems still exist...
My suggestion, learn how to fix the small issues yourself, it will save tons of time and stress. Then, take the money you save by NOT buying an extended warranty, put it in the bank, and when you have a problem you can't fix, hire a mobile mechanic for an hour or two.
I suppose it is peace of mind. Perhaps I am over insured who knows as I have road side assistance that comes with the Gold plan. In my case if I choose to stop the monthly payment then I stop it. In the case of purchasing a high priced extended warranty at 5-7k I'll pass. I have been known to turn a wrench or two but I guess it is to each his/her own.
Information for anyone inquiring. https://www.goodsamesp.com/testimonials/
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2014 Jayco Precept 31 UL
1997 Four Winds Chateau Sport 23' (sold)
Location: Kingman AZ and where our Seneca is today.
Posts: 3,118
We regrettably have one - Avoid it, it is not worth the paper it was printed on.
We waited months for them to approve the replacement of a faulty Air Conditioner - and after it all was said and done, they charged us all kinds of extra charges in addition to the $100 deductable. We even had to pay 100% of the shipping charges for the replacement AC unit.
Look at the exceptions they put in the document they send you AFTER you sign.
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Steve & Stacy with Jasper (Australian Cattle dog)
2015 Seneca 36FK
Custom 27' flatbed trailer hauling:
07 Toyota FJC & Yamaha Kodiak 400 ATV
I am going to say this one last time..... there is a huge difference between an extended warranty purchase and a Good Sam Pay-As-You-Go Extended Service Plan For New and Used Motorhomes. Bottom line is read it and make your own determination. I agree the extended warranty is like a FSA..... The Pay-As-You-Go Extended Service Plan is not because you pay monthly based on what deductible you choose. Here is the link read it for yourself and read the coverage and the exclusions as well as the cover unexpected travel costs for lodging and meals for up to $100 a day for 5 days. Plus, they will add $60 a day for 5 days for a rental car.
Location: Kingman AZ and where our Seneca is today.
Posts: 3,118
Quote:
Originally Posted by EA37TS
Just like a medical flexible spending account (FSA).
Sorta... but this one you pay in - but never get to receive any benefit from it.
As you look at the exceptions of what is covered...
They make the customer pay the deductible... And then these items are listed that they do not cover: Here are just a few listed in the contract under exclusions -
Shop Supplies
Repair Costs
Supplies or Parts
Linkage or pedals
Hardware
Pumps
Cable
Ceilings
Carpet
Doors
Flooring
Frame
Freight - they charge you to get replacement parts shipped to them.
Roofing materials
Walls
Wheels
Wood Framing
Woodwork and Mill work
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Steve & Stacy with Jasper (Australian Cattle dog)
2015 Seneca 36FK
Custom 27' flatbed trailer hauling:
07 Toyota FJC & Yamaha Kodiak 400 ATV
Linear Mode
