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Extended Warranty with new RV

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If you buy an extended warranty with a new RV do you in up being double covered for the first year?  Shouldn't you buy the extended warranty after one year if you want one?

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Lyle.

Since the last one I had is 30+  years ago, I suspect a lot of things have changed.  Today, in  a DP, what is the length of warranty on the engine, chassis, transmission, and all the other non Newmar equipment?  Then what does Newmar cover?  I got my last one on a 4 year old coach, that I bought used, with no service records available!

Carl

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Probably not double coverage.  I doubt the extended warranty folks would be kicking in any funds when they know you are still under original factory warranty.  My dealer (Newmar) offered a coach only plan that was pretty cheap.  It was for 5 years and covered everything except chassis (motor/tranny).  When I told them I would just wait until the end of the first year he showed me some paperwork of folks coming back for same warranty after a year.  Price went from around $3,200 to about $4,000 for same warranty.

It was an easy decision for me because I was getting almost half the amount for the new extended warranty in a refund from my last coaches extended warranty plan that I never used.

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Let me see if I understand this correctly. You had a warranty that you paid $3,000-4,000 for that you didn't use and only lost half your money on. You no want to spend money insuring a new coach with full warranties included. I am betting there are enough exclusions based on the manufactuers warranties must be used first, that they will never need to spend a dime. 

Why not just take the refund check and match it in a savings account. That way you will have the money to fix whatever breaks and they deny coverage.;)

Bill

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There are many threads on this subject.  I think you'll find the consensus is to not get an extended warranty.  To answer an earlier question, diesel engines and Allison transmissions are usually covered for five years or 100k, whichever comes first.

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Yep, they are the 2 big ticket items!  In 2014, I extended my 5 year/100K Cummins warranty for another 5 years, $1,400!  Only extended warranty I have gotten...that was a logical choice!

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I'm of the view that the value of an ESP all comes down to each individuals' risk tolerance and a bit of "luck of the draw" over an extended period of time as evidenced by those who claim to have benefitted from having purchased an ESP and others whom negate the value of them. I purchased and have an ESP so be it my personal choice.

I do tend to question myself (only) on how many of those whom claim they put "money aside to self insure themselves against major mechanical failures" in lieu of purchasing an ESP actually truly do so.

 

 

 

 

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52 minutes ago, manholt said:

Yep, they are the 2 big ticket items!  In 2014, I extended my 5 year/100K Cummins warranty for another 5 years, $1,400!  Only extended warranty I have gotten...that was a logical choice!

Can you pm me where you found this? I can financially handle replacing the ac or such but the engine and tranny is another subject. 

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Rick, I self insure and have for years. The company's play on people's fears of problems not on reality. You have a new coach, If you take care of it you should not have any problems that arn't covered under warranty or regular maintenance. If you have a warranty by the manufacture the outher warranty is not going to pay anything for repairs.

Bill

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Jim S.  No secret, I got mine direct from Cummins, via South Plains Cummins, in Houston, TX.  I wanted the time, not the mileage!

Rick..  I understand your thought on "how many actually do set aside the money"?  Akin to how many have invested in Mutual Funds, Stock's and Bonds, while they worked and not depended on SS and Pensions?  Very small %, I would believe!

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On ‎3‎/‎26‎/‎2018 at 8:17 PM, WILDEBILL308 said:

Let me see if I understand this correctly. You had a warranty that you paid $3,000-4,000 for that you didn't use and only lost half your money on. You no want to spend money insuring a new coach with full warranties included. I am betting there are enough exclusions based on the manufactuers warranties must be used first, that they will never need to spend a dime. 

Why not just take the refund check and match it in a savings account. That way you will have the money to fix whatever breaks and they deny coverage.;)

Bill

Had a bumper to bumper extended warranty on a used coach we never used in 18 months, that is correct.  Applied the refund from that toward the new warranty on our new Newmar we recently purchased, that is again correct.  The Newmar warranties drop off 8.5 months from now.  Most of my appliances warranties automatically drop off either in 8.5 months or 20.5 months.  Engine, tranny go longer through Cummins/FL.  I decided to invest an additional several hundred for coverage on everything through the first 5 years of ownership.  We are full timing and actually putting miles on our unit.  We are opening the frig probably over 5,000 times a year, crapping in two different expensive toilets over 700 times a year, you get the idea.  If I was taking an occasional weekend trip or maybe running to Florida for 3 months in the winter and then just letting the coach sit then maybe I would take a chance.  I personally believe there is a chance I could come out on top by having an extended warranty.  Only time will tell.  I guess at the end of 5 years and I haven't had $3,000 or $3,500 in claims paid out then we will just cancel one of our cruises or somehow try to recover from this huge financial loss.

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36 minutes ago, ISPJS said:

Had a bumper to bumper extended warranty on a used coach we never used in 18 months, that is correct.  Applied the refund from that toward the new warranty on our new Newmar we recently purchased, that is again correct.  The Newmar warranties drop off 8.5 months from now.  Most of my appliances warranties automatically drop off either in 8.5 months or 20.5 months.  Engine, tranny go longer through Cummins/FL.  I decided to invest an additional several hundred for coverage on everything through the first 5 years of ownership.  We are full timing and actually putting miles on our unit.  We are opening the frig probably over 5,000 times a year, crapping in two different expensive toilets over 700 times a year, you get the idea.  If I was taking an occasional weekend trip or maybe running to Florida for 3 months in the winter and then just letting the coach sit then maybe I would take a chance.  I personally believe there is a chance I could come out on top by having an extended warranty.  Only time will tell.  I guess at the end of 5 years and I haven't had $3,000 or $3,500 in claims paid out then we will just cancel one of our cruises or somehow try to recover from this huge financial loss.

Well good for you. I was pointing out that the numerous mechanical items covered by your warranty statistically fail rather quickly as in the first few months (when you have the factory warranty) or last a long time before failure.

" crapping in two different expensive toilets over 700 times a year," Seriously I would cut back on the fiber a little.:P

As someone said "Only time will tell."

Bill

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Time is of the most essence when I buy a new vehicle, I usually drive more than 60,000 miles per year in my personal car because I am also working out of it. If the car comes with a 60,000 mile warranty, and I buy a 100,000 mile extended warranty, I feel like that I have purchased a 40,000 mile warranty in reality. And in the case of a motorhome, most of us do not drive more than 10 to 15 K per year, and the time limit would have expired long before mileage. 

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Joe S. & WBill. 

Let's be civil to each other. :P You each do things differently, that's an individual choice and a Rick said, has to do with your comfort level.  Nothing wrong with that. :)

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Thanks for all the different ideas on this topic.  I guess it is a matter of your financial risk tolerance.  I think we will pass on and extended warranty.  We will see what they offer at delivery.

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I would be more inclined to have an ESP if I had the electronic items that more and more of the high end coaches use. I'm concerned there are so few techs equipped to work on this stuff that the diagnosis time is going to be exorbitant as we will be paying for their OTJT. Of course this poses another problem, will the ESP be willing to pay the diagnosis time, probably not, so then your left trying to find a qualified shop. Ugh!

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On my previous MH I had a GS ESP. Over 9 years of activity it paid for itself. To understand this, DW named the MH "Citrus," just to be PC.

I purchased a 2015 used MH so the Mfg warranty is iffy at best. I transferred/purchased the ESP to this MH and I hope  never have to use it.  The one I have covers engine, transmission, seals and gaskets.

I have peace of mind.

One of the biggest problems with saving for the rainy day repairs is to have the discipline to not dip into the funds for other "want now" items,

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Good point Wayne.  Also, maybe some folks are lucky enough to be getting 8 or 9% on their money short term instead of 2 or 3%, so by all means keep it in the bank.  Otherwise, the way I look at it is my "expiration" date is much closer than further away so I'm not much on long term investing.  I've been to more and more funerals and have yet to view a casket that was loaded with cash.  

Extended warranties are like any insurance policies.  Some self insure and some throw money (me) at insurance companies.

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ESP are good for some folks and not good for others. In my case no ESP Company will insure a coach over 10 year old. If you know of one please post it here.

Thanks,

Herman

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