Extended Warranty - Ripoff or Great Deal?

Discussion in 'Polaris Slingshot Purchasing' started by Blitzkrieg, Mar 20, 2017.

?

Do you have an extended warranty and if so have you used it? What did it Cost?

  1. Yes

    28.0%
  2. No

    72.0%
  1. Blitzkrieg

    Blitzkrieg Well-Known Member

    Joined:
    May 12, 2016
    Messages:
    2,087
    Thanks Received:
    1,268
    Trophy Points:
    353
    Location:
    Front Range Colorado
    Lets see how valuable extended warranties really are. My thoughts on them are well known, but if you bought and extended warranty and have actually used it, now is your opportunity to share your experiences.

    If you have an extended warranty and have ever used it, please upload copies of receipts with your name and VIN blanked out and note what the warranty cost you. Responses w/o proof are null and void.

    The goal here is not to say someone wasted money on an extended warranty, it's to gain factual info on how many people have actually used one and if so how much of a return on their investment in the warranty has been realized.

    I'm going to go on a limb and say 5% or less have used an extended warranty for repairs and <1% to the point of netting zero on the cost due to repairs. Let the facts flow!
     
    • Agree Agree x 1
  2. Blitzkrieg

    Blitzkrieg Well-Known Member

    Joined:
    May 12, 2016
    Messages:
    2,087
    Thanks Received:
    1,268
    Trophy Points:
    353
    Location:
    Front Range Colorado
    I'll be the first to cast my vote. Didn't buy one, have not needed one. Zero out of pocket costs.
     
    • Like Like x 1
  3. Sling ding-a-ling

    Sling ding-a-ling Well-Known Member

    Top Poster Of Month

    Joined:
    Sep 1, 2016
    Messages:
    927
    Thanks Received:
    409
    Trophy Points:
    118
    Location:
    Mount Vernon, Wa
    Stupid question time. I assuming you are limiting this to a Slingshot specific extended warranty? Not all vehicle makes and types?
     
    Last edited: Mar 21, 2017
    • Funny Funny x 1
  4. Yochemate

    Yochemate Well-Known Member

    Joined:
    Mar 23, 2016
    Messages:
    252
    Thanks Received:
    118
    Trophy Points:
    98
    Consumer Reports has a ready figured it out.

    Extended Car Warranties Are an Expensive Gamble - Consumer Reports

    So far, my brake pressure switch failure has been my only repair that wasn't a recall. It would have cost me equivalent to 50% of extended 5 year warranty to repair at a dealer if it had happened after March 31, i.e.after my warranty expired.

    Since the 2015 Polaris warranties are just now expiring we'll see what the future holds.
     
    • Useful Useful x 1
  5. EjFord

    EjFord Well-Known Member

    Joined:
    Feb 24, 2015
    Messages:
    2,973
    Thanks Received:
    1,708
    Trophy Points:
    353
    Location:
    La Porte, IN
    I bought the 5 year....for me was a good move...at this point I'm on my second Slingshot --- Feb 2015 a 2015 SL, 16,901 miles later and
    a major problem with a toasted fuse box (would have been warranted
    but in Sept 2015 didn't want to wait a couple of months for a new Slingshot. Was lucky enough to call my dealer on Tue pm and pick up a new fast red one on Wed morning. I now have 28,000+ miles
    on the 2016 and have had several problems that were taken care of
    with out question... I do know that the dealers have a lot of room to play as far as what they charge for the extended products....
     
    • Informative Informative x 1
  6. Publius

    Publius Well-Known Member

    Joined:
    May 10, 2015
    Messages:
    688
    Thanks Received:
    288
    Trophy Points:
    118
    Location:
    New Milford, CT
    Is it me or is that three questions on a single answer poll?
     
    • Funny Funny x 2
  7. Sling ding-a-ling

    Sling ding-a-ling Well-Known Member

    Top Poster Of Month

    Joined:
    Sep 1, 2016
    Messages:
    927
    Thanks Received:
    409
    Trophy Points:
    118
    Location:
    Mount Vernon, Wa
    And some fine print you need to follow...or it didn't happen. :)
     
    • Like Like x 1
  8. 2SierraRomeo

    2SierraRomeo Well-Known Member

    Joined:
    Feb 17, 2015
    Messages:
    275
    Thanks Received:
    141
    Trophy Points:
    198
    Location:
    Lakeland, FL
    An extended warranty is a casino created by the “house” to ensure the house comes out way ahead. There was a conversation thread here running about last summer where a vendor was selling an extended warranty, and he was open and adamant that ANY modification from stock voids the extended warranty… changing the seats, changing the windshield… I got the sense that he was saying they’d tell ya to go pound sand for as little as a shiny new decal… not to mention all the real mods we typically do. We all know about Magnuson–Moss, but why the hell would I pay someone my money, knowing I’d have a legal battle on my hands to get any of it back one day?!?

    Last car I bought, even though paying cash, they still make you sit through some of the finance guy’s spiel, which these days revolves around suckering the mathematically-challenged into a multitude of warranties by doing their best not to reveal how much the warranty costs, but instead, saying it would be just a few dollars extra a month on their payment. I remember one of those was a warranty to replace your key if you lose it. Upon pulling teeth to get him to just tell me what the cost of that “warranty” was, it was over $300… not including interest when rolled into a payment; so, more than what it would cost you to replace a key if you lost it. Oh, and I just loved how their four year extended warranty was going to begin immediately, running concurrently with the manufacturer's three year bumper-to-bumper warranty. I have zero mercy for those con artists.

    The best warranty is bought from yourself… bank it… much less paperwork involved.
     
    • Like Like x 2
    • Winner Winner x 2
  9. MISTERZ06

    MISTERZ06 Well-Known Member

    Joined:
    Aug 21, 2014
    Messages:
    2,568
    Thanks Received:
    1,203
    Trophy Points:
    353
    Location:
    NEW YORK
    No extended warranty for us
    being very mechanical - i will fix it myself
    i do not trust the dealer mechanics -
    hard to find a good one
    2e32d6d2710306db2a4e4491f80a1245.jpg
    .................................................... tom n carol
     
    • Like Like x 1
    • Agree Agree x 1
  10. bikerbill

    bikerbill Active Member

    Joined:
    Oct 27, 2015
    Messages:
    265
    Thanks Received:
    74
    Trophy Points:
    43
    Location:
    Laughlin NV
    I bought the extended warranty; However i am still on the OEM warranty for another 7 months. However , i've had enough problems that i feel like i will probably use it. Cost effective? don't know.
     
    Last edited: Apr 8, 2017
    • Like Like x 1
  11. Yochemate

    Yochemate Well-Known Member

    Joined:
    Mar 23, 2016
    Messages:
    252
    Thanks Received:
    118
    Trophy Points:
    98
    As described in the CR article extended warranties are a gamble no different than Vegas a few will win but most will lose. Your odds are set by the quality of the vehicle you purchase. Better chance of coming out ahead with a Fiat than Subaru. How many miles you will put on the the SS the following 3 years is also a factor in determining your odds. We don't know for where the Slingshot will fall with reliability so hard to set the odds. We can only speculate. For those who are not mechanically inclined or don't have the time or desire to work on the their slingshot a warranty maybe worth the gamble. It's not like you can go to autozone to even diagnose the problem, you need to go to a Polaris dealership anyway. Owners like Tom n Carol that are mechanically inclined and have the knowledge and time, have the odds in their favor of coming out ahead by not buying a warranty. However, while time and labor are free, parts aren't so as long as the cost of parts fall below the price of a warranty, all is good.

    Also, I'm not as sure as I thought I was about not getting a warranty because of mods. I have made numerous mods and when I brought my slingshot to have the brake pressure switches replaced last week , there was no mention of my mods voiding my warranty. Of course none of my mods affected the brake pressure switches. If this had happened next week, when I was off warranty, I would have come to this site and learned that the light coming on it isn't a big deal although when driving the "brake failure" light going on initially scared the $hit out of me. I'd then follow the advice on this forum and repaired it myself. If I didn't feel comfortable doing it myself, I would have the dealer do at a cost = to half the cost of a 5 year warranty. If this is a recurring problem over the next three years then I would quickly come out ahead with a warranty.

    Then again, I could be wrong.:)
     
  12. Tooth

    Tooth Slingshot Supporter Slingshot Supporter

    Joined:
    Dec 16, 2014
    Messages:
    416
    Thanks Received:
    181
    Trophy Points:
    98
    I'm not a warranty guy.
     

Share This Page