This just isn't always true! It's wrong to generalize like this.SouthsideDuc said:I'm sure you know the routine as much as anyone here. Extended warranties always bring more money than they send out. That said, $890 for three extra years seems like not a bad deal if you plan to keep the bike for that long.
But, is this a straight up extenstion of the factory warranty (good) or is it an aftermarket type deal (bad)? If it's aftermarket, look very closely at what is and is not covered.
I bought a 5 year extended warranty/service contract from an aftermarket provider for my 2002 ST4s, for about $750. A lot of people said the contract had so many exclusions that it wasn't worth it. They were all wrong!
Within the first year, the contract covered over $1,000 of replacement parts and labor! It paid for...
- a replacement valve cover (due to a broken tab)
- a new fuel level assembly (the old one was WAY off!)
- a new LCD display (the old one started flickering badly)
- a DP ECU to replace the stock ECU (the stock was causing starting problems)
- a new starter solenoid (fused during one of the bad starting problems)
My extended warranty has paid for itself and then some and I have another 3 years of coverage left on it. If I looked too closely at the exclusion, I wouldn't have bought it and I'd be considerrably poorer than I am now!