Question about extended new car warranty: What's the catch? Question

I went to buy a new car yesterday at Honda. They are offering an extended warranty through 6 years for $1500 or so. However, if we do not use the warranty for the 6 years, they said they will refund the money we paid to extend the warranty! Is this legit? What is the catch? I can't imagine that they just give back money that was paid. Anyone have experience with this?

Re: Question about extended new car warranty: What's the catch? Question

bump

Re: Question about extended new car warranty: What's the catch? Question

I would read every line of the contract for the extended warranty. Say if it starts Year 3 to 6..i would see a sales pitch to get it refunded since it never started.

Typically, it would be prorated if you decided to cancel it at anytime put it sounds you get a regular warranty right off the bat.

Again, read contract and even call the extended warranty call center to validate. You should be able to get the number.

Re: Question about extended new car warranty: What's the catch? Question

Are you going to keep the car longer than 3 years before you purchase the extended warranty? If your not sure make sure you find out if the extended warranty transfers to the next buyer of the car if you go to sell it in the future.

Re: Question about extended new car warranty: What's the catch? Question

i have this on my nissan from the 3-5 year mark
after the 5 year mark i don't use it, i get 1700 back

i think its that you have to remember to contact them..they don't just mail you the check..im sure people forget to contact them, which is prob one way they make money

Re: Question about extended new car warranty: What's the catch? Question

Doesn't sound right. Also, a lot of Honda dealers sell extended warranties online for almost wholesale.
DH got his through a dealer in MA for $800 (7 years/120k). It has already come in handy as the tranny on his Civic needed to be rebuilt.

Re: Question about extended new car warranty: What's the catch? Question

Hrm.. i don't know.. sounds fishy to me

Plus if you finance it, aren't you paying interest on that? Are they going to give that back too?

I don't know. If it sounds to good to be true................

Re: Question about extended new car warranty: What's the catch? Question

Re: Question about extended new car warranty: What's the catch? Question

you have FM.

Re: Question about extended new car warranty: What's the catch? Question

Thanks everyone. The place where the dealership is getting the warranty got an F from Better Business Bureau, so we aren't going to get the warranty. Thanks again.

Re: Question about extended new car warranty: What's the catch? Question

Someone i work with did this. But the company ended up going out of business and he was never able to get his money back