When I bought my new boat last year I had the option of extended warranty for 2 more years (3yrs factory) or rebate on motor. I called and talked to a couple services departments about the extended warranty and was told most problems don’t show up at years 4 and 5. Either problems show up right away or years down the road after the warranty is expired so their advice was to take the rebate. This was for a Yamaha vf150.
Crappie55369 is looking for suggestions on how to spend his savings. Maybe he’ll help with an extended warranty?
Who can figure out if its worth it for you? The people who offer the warranty.
Remember the house always wins.
Crappie55369 is looking for suggestions on how to spend his savings. Maybe he’ll help with an extended warranty?
A little late to add anything, but I have a boat that I’m selling and I can put in the add that the motor has a transferable warrantee for another two years. Takes some of the concern out of the equation for a new buyer. I’m in the process of buying a new Mercury and considering an extension warrantee just to make it easier when I sell it.
Do what makes you feel good. Extended warranties are huge money making propositions as Stanley stated, if it’s going to break it’s usually within the standard warranty period or 5 years later. The “put it in a Mutual Fund” is not a bad idea, take almost everything you buy now….would you like an extended warranty sir? Well that’s because it’s very profitable. Yes, a single blown powerhead would eat up that $500 fast but just assume each time you were asked if you wanted to buy an extended warranty, instead you put that money away and self insured, unless you are extremely unlucky the chances are if it lasts a year it will last 10, unless you are putting 500 hours/year on that motor. If peace of mind is worth $500 go for it. Sort of like buying a $300 bottle of scotch, is it worth it, well that depends on yourself.
dang, I should check the dates on these posts!
Odds of using/needing an extended warranty are about like winning the Billion on the Lottery. 
Have not read all the responses but many started with: lots of variables. To be sure whoever is making the offer has made a business out of figuring out the variables in their favor. You may think that is true for ANY insurance and that would be true. So for me that is true for my home insurance, I will pay for that only because if I loose the house I am wrecked financially. Is that true for the speaker I buy at Best Buy?-no, so I do not get the extended warrenty for that.
Any insurance is a loosing proposition, give the ‘Devil his due’ only when you have to.
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