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Old 06-02-2008, 01:00 PM   #1
leac
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Post Are extended warranties worth it?

Hi all - I'm a new member and I've had fun going through the archives. But I haven't seen this question.

So, I have had used bikes until now, and I am upgrading and buying my very first brand-spanky-new bike (Yamaha FZ1) and was wondering if the extended warranties are worth the price? My old Durango's extended warranty paid for itself 10-times over but I'm not sure if new bikes need similar considerations? What do you all think? Thanks for the advice!
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Old 06-02-2008, 01:18 PM   #2
SixString_Blues
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I always opt for the extended warranties. For me it's just piece of mind. That and I usually can't afford to fix things when the need arises. lol
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Old 06-02-2008, 02:44 PM   #3
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I'd say if you can't do your own wrenching, then get the warranty. I think they are a waste, but that is my own opinion.
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Old 06-02-2008, 03:14 PM   #4
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NO! Seems short and blunt, huh? Take it from an F&I manager- it's a money maker for the dealer.
The modern bike (any bike) is built so well that if something is wrong it will probably happen within the 1st year of ownership. If you pay attention to recall notices and you build a relationship with a quality dealer you will get everything you need. If you think you MUST have it offer 1/2 the price offered by the dealer and DO NOT go higher. Truly, I'd go for a PPM (Prepaid maint program) before the warranty. You'll save about 35-40% by pre paying for the scheduled services. That should run you about $1400-$2100 depending on model and some of those programs include tire replacement.
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Old 06-02-2008, 04:20 PM   #5
vermicious
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Quote:
Originally Posted by longride View Post
I think they are a waste, but that is my own opinion.
The only time I would disagree with this is if you bought a bike that is just prohibitively expensive to work on and is from a company who's machines are known to exhibit... *quirks* as they age.
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Old 06-02-2008, 08:51 PM   #6
leac
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This is just what I wanted to know - thank you all so much for the info! I like the idea of the prepaid maintenance program, the dealership offers that too. Good stuff!
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Old 06-03-2008, 06:13 AM   #7
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I think you should be fine with the factory warranty, FZ1's are reliable as bricks and a manufacturing defect will show up right away.
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Old 06-03-2008, 12:47 PM   #8
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Consumer Reports has a good article on extended warranties. Basically they are total crap. Get the best manufacturer's warranty you can. Those extended warranties usually refuse to pay and label every claim "user error". Save the money and put it in the highest interest bearing note you can find. Then you'll have cash if your bike breaks down after the warranty is up.
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Old 06-04-2008, 09:06 AM   #9
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You aren't likely to have a problem with that bike, certainly not after the standard warranty expires if you put some miles on it during that period. Learn to wrench yourself, and use the money you saved to buy some good tools.
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