extended warranty ya or nay

[steveg]

Just picked up a 2020 R1250Rt and there is alot of electronic gadgetry on this thing and I Am wondering your thoughts on extended warranty are they worth it? Do they cover everything? do these things hold up?  and not necessary for the warranty thoughts

[Rinkydink]

Congratulations on your new scoot. Without pics it didn’t happen. 
 

I personally don’t purchase extended warranties. Very expensive and I’m a gambling man. 

[Hosstage]

You will get stories of people that got all of their money and more out of an extended warranty, and stories of no need for the extended warranty. I personally think their are more of the latter by far, warranties would not be sold if they weren't a big overall win for the seller of the warranties.

I am not a fan of extended warranties, I too am a gambler. Can't think of any situations where it has bit me.

[Dann]

Don't forget that the dealer/salesman commission on an extended warranty is close to 50% of the premium.

That's why they push it . They make more profit on it than on the bike. (That's also why they sell extended warranty on everything now...)

They estimate that the repair cost will not exceed 50% of the premium. Personally, I'd rather put half the premium cost aside for repairs and use the other half for fuel.

YMMV

[steveg]

Thanks for the replies

[ScottT]

The responses here crack me up.

 

"I am not a fan of extended warranties, I too am a gambler"

"Personally, I'd rather put half the premium cost aside for repairs and use the other half for fuel."

 

Do y'all not have any idea how much the components on these "Weathead"/"Shiftcam" RTs cost? I purchased a four year warranty extension on my 2019 RT for $1700 because of the exorbitant cost of parts on my RT. Half of that would be, $850. That's like a small, tiny down payment on a rear drive replacement, or cam and cam follower replacements if they fail outside of warranty. Then there's the ECU and other computers. WooooWeeee! The warranty my dealer sold me is done by RPMOne and I personally know several RT owners who have had big ticket items fail that were covered by the extended warranty. They had zero issue getting the repairs covered and the warranties paid for themselves in each case. In some cases, many times over. 

 

If you're gonna gamble, don't temp fate by saying so. Modern day BMW cars out of warranty today are known as endless money pits. The modern bikes can easily turn into money pits as well. Fortunately the bikes have less to fail, but when they do, break out your wallet!

[Hosstage]

So after paying $1700, are you hoping for a big fail and payback, or not hoping for a fail and no need for a payback? How many years left on the warranty?

If you do not use the warranty before it runs out, do feel it was money well spent, or money that was not well spent?

I'm not trying to disrespect your choice, just trying to get your mindset on it.

[Skywagon]

For what it's worth, I've never had to have a repair on my BMW after the warranty period. I've had 4 new BMW's going back to 2000.  I have had some in the warranty period and a couple of recalls...but outside the warranty period it has just been maintenance. If you did have an after warranty repair it would likely exceed $1700...so it truly is a gamble either way.  

[strataj]

I think of it this way,  you buy insurance for things you can't afford to replace out of your pocket.  Insurance company's are in business to make a profit and that's on top of what they pay out plus all costs of running a business.  My wethead RT is now 7 and half years old 51 k + sMiles, it's running great.  Only been to the dealer for the 600 mile service, a couple of recalls and a bad battery under warranty.  I've not had any problems or repairs done.    At it's age it would be out of most extended warranty's without a claim.  My option is buy insurance if you can't afford to repair or if it helps you sleep better at night.  Each of us make our own decisions.

[John Ranalletta]

Is your portfolio mostly stocks or mostly bonds?  If stocks, no warranty.  If bonds, get the warranty.