Extended Warranties

[WeBeRving]

We just bought a 2022 Grand Design 390RK-R model. The dealer wants us to buy their extra warranty, Its around $13,000 Has anyone bought this? What are your thoughts on this? Thanks

[Second Chance]

$13,000? That's CRAZY expensive!!! They usually run under $2,000. If you use the search function on the forum, you'll find many, many threads on this topic.

My wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit.

Dave Ramsey and Clark Howard have commented on these plans many times, too. The standard seems to be that 80% of extended service plan revenue goes toward commissions and marketing. Only 20% goes toward paying for actual repairs, which means most people are getting a really bad deal. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.

BTW - welcome to the forum! You can create a signature block with your RV and tow vehicle information (see mine below). That way you won't have to repeat that information whenever you post or ask a question - and others won't have to ask. You can create a signature by going to:

Forum Actions (on menu bar) -> Edit Profile -> Edit Signature (under My Settings on the left)

Rob

[Ynot4me2]

Surely he meant $1,300 and not $13,000. Right?

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[OurNewEra]

We just bought a 2022 Grand Design 390RK-R model. The dealer wants us to buy their extra warranty, Its around $13,000 Has anyone bought this? What are your thoughts on this? Thanks

CRAZY!!!! Definitely search the forum for previous discussion threads on the this topic. If it truly is $13,000 that is ridiculous. We said NO to everything but the purchase of the trailer. We purchased no extra packages or coverages.

If you are concerned about the trailer and potential failures and repairs and cannot make some repairs yourself, and really do want an extended coverage plan, you need to look elsewhere for extended coverage. Previous threads discuss what others have paid and for what coverage. No where near that amount.

[Second Chance]

Surely he meant $1,300 and not $13,000. Right?

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I hope so - or the dealer needs to be reported.

Rob

[RoJoSo]

These service plans / extended warrenties are against you. Difficult to get any claim approved. Always some small print.
Take the money and put it into an seperate account.
If something breaks then draw on it, if nothing breaks you havent lost anything.

[Rgpracer]

$13,000? That's CRAZY expensive!!! They usually run under $2,000. If you use the search function on the forum, you'll find many, many threads on this topic.

My wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit.

Dave Ramsey and Clark Howard have commented on these plans many times, too. The standard seems to be that 80% of extended service plan revenue goes toward commissions and marketing. Only 20% goes toward paying for actual repairs, which means most people are getting a really bad deal. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.

BTW - welcome to the forum! You can create a signature block with your RV and tow vehicle information (see mine below). That way you won't have to repeat that information whenever you post or ask a question - and others won't have to ask. You can create a signature by going to:

Forum Actions (on menu bar) -> Edit Profile -> Edit Signature (under My Settings on the left)

Rob

Good info Rob, we are picking up our new 303 (maybe) this week......I'm sure we will be ask about this also.
Thanks