Extended Warranty - Worth It?
#2
The experts will tell you that if you put the money you would spend in a bank account and leave it alone except to pay for any repairs that would have been covered you'll have money left at the end of the time the warranty would have expired almost every time. My opinion is if you can afford it easily and want the piece of mind it affords then get it.
#6
How much do you ride? If you're a barhopper, it's probably not worth it. If you go 20-30,000 miles a year, and you're frequently out of state, it makes sense. My ESP is half paid for thanks to the tire coverage. And at the rate I'm putting miles on the bike, I'll have around 60,000 miles after the initial 2 year warranty is up.
#7
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#8
I put 25-30k a year on my bike...I keep $1500 in a "Bike" account for emergencies...I've had six bikes in the last 10 years and never went into my emergency account...But, I may be incredibly lucky...But I do know that someone is making a profit by selling extended warrenties or they wouldn't still be in bussiness so ost people must never need to use them...
#9
#10
If you ride more than the average rider then it can work to your advantage....if you don't put the money it would cost for the warranty in the bank and let it work for you... I am currently 50/50 on the warranties I have bought in then past for bikes but since I/we now ride a lot more than I/we used to since we are empty nesters we didn't hesitate on extended warranties on our latest bikes.