Extended warranty or not

P

Panchita

New Member
Jan 24, 2009
48
MIAMI
Boat Info
2005 340 DA
Blue hull
Garmin 740s with Radar
Engines
8.1 Merc V-Drives
Yesterday we purchased a 2005 340,, 400 hours on engines.

Boat is near perfect condition well maintained etc by marine max.

So we closed on the boat and of course they add an extended warranty for 3 years backed by Brunswick Sea ray.
WE sign for it but have 30 days to rescind,,,,

Covers everything mechanical, , engines, tranny, generator etc.

Question,, is it really worth it?
 
I just purchased a 07 from Marine Max. I did purchase the warranty as besides that it fully covers the diesel engines (and generator), it also fully covers the electronics - which are quite expensive (I have radar, 2 E screens and autopilot). After knowing someone who incurred tremendous expenses with diesel repairs previously, I thought that it was worth it for piece of mind. Also, if you sell the boat you can either transfer it to the new owner (which adds to resale), transfer it to your next boat if you buy another boat from them, or get a pro-rated refund check (which they dont tell you but it is true). But its a personal opinion - some people think its a waste of money and would rather "roll the dice".
 
Panchita said:
Yesterday we purchased a 2005 340,, 400 hours on engines.

Boat is near perfect condition well maintained etc by marine max.

So we closed on the boat and of course they add an extended warranty for 3 years backed by Brunswick Sea ray.
WE sign for it but have 30 days to rescind,,,,

Covers everything mechanical, , engines, tranny, generator etc.

Question,, is it really worth it?
Click to expand...

I have seen various consumer studies that put the percentage of people who actually get their money back out of an extended warranty between 25-35%. Alot depends on how long the warranty is and how much it costs. Personally, I will never buy an extended warranty on ANYTHING- But would probably condsider it on a boat if the price and term was right just because boat repairs are so expensive.

When I bought my 280, the Mercury warranty was going to be about $1400 per engine/OD combo for 12 months. Alot of this was because a EW had not been purchased by the original owner so their risk formula increased the price. There was no way I was going to pay that. I have heard of people who got a 6 year extended warranty for about the same price when buying new which I might consider. Bottom line is you are taking a gamble- if they weren't making money on selling them, they would not be.

On aside, I have been told you can buy the warranty directly from Merc and save the 20 or so percent commission the dealer gets to sell it to you and fill out the paperwork.
 
shinsr said:
I just purchased a 07 from Marine Max. I did purchase the warranty as besides that it fully covers the diesel engines (and generator), it also fully covers the electronics - which are quite expensive (I have radar, 2 E screens and autopilot). After knowing someone who incurred tremendous expenses with diesel repairs previously, I thought that it was worth it for piece of mind. Also, if you sell the boat you can either transfer it to the new owner (which adds to resale), transfer it to your next boat if you buy another boat from them, or get a pro-rated refund check (which they dont tell you but it is true). But its a personal opinion - some people think its a waste of money and would rather "roll the dice".
Click to expand...

We bought the 3 year legacy warranty on our 2002 310 from M.M.

since its our first boat, seniors and very NEWBIES we have the piece of mind ..$5000 3 years......
 
Big waste of money, yo will never collect a dime. I have tried several times to collect on very legitmate claims and have been denied every time!
 
The product is the legacy certified pre-owned warranty price is $5900.0. for three years I think this is is too high,,,

so probably will rescind in a few weeks and roll the dice.

Only items I am really concerned about are the transmissions.
 
Just tried to get Brunswick to cover faulty SR Nav's...their take? It's a software issue!!!!NOT covered. Same story twice before. A total waste of money. They bassically cover stuff that doesnt breake.!
 
shinsr said:
I just purchased a 07 from Marine Max. I did purchase the warranty as besides that it fully covers the diesel engines (and generator), it also fully covers the electronics - which are quite expensive (I have radar, 2 E screens and autopilot). After knowing someone who incurred tremendous expenses with diesel repairs previously, I thought that it was worth it for piece of mind. Also, if you sell the boat you can either transfer it to the new owner (which adds to resale), transfer it to your next boat if you buy another boat from them, or get a pro-rated refund check (which they dont tell you but it is true). But its a personal opinion - some people think its a waste of money and would rather "roll the dice".
Click to expand...

Shinshr, just curious what they hit you for on a pre-owned for the warranty. I have Wesco coming this week for the genny and engines but it's mostly wear parts that wouldn't be covered anyway. Thanks. Nice boat by the way. :grin:
 
I'd pass, unless you put on a bunch of hours and it's an unlimited hours warranty.

Six grand can pay for a lot of repairs (especially if you can take care of any smaller issues by DIY).
 
Extended warranties are designed to make money. Most major repair issues will fall outside the warranty time limits so never will be used. However, if it gives you peace of mind and the cost is not the issue then go for it.
 
I paid around 7500 for a full 3 years (its a CPO boat so much of the first year was covered by that program). However, it covers everything a new boat "passport" would cover, including all electronics (with 2 E120's and autopilot and 4 flat screeen tv's that was important). With the diesels, I considered this a worth while "hedge" as I know someone who needed a injector pump on a volvo that cost him 6500 alone on a 5 year old boat. And WESCO will do the work under this program as they are SS3's deisel guys. But beware to all, there are at least 3 different warranty programs that MMax sells - make sure you ask the right questions to get the right one, some of them cover very little. My business manager was great and she made sure I understood the differences to get the best one.
PROMO, I know several people with MMax boats that have had little issues with the warranty covering things (obviously dont cover impellers and the such) but major (G_d forbid items) have been covered.
 
QUOTE:
PROMO, I know several people with MMax boats that have had little issues with the warranty covering things (obviously dont cover impellers and the such) but major (G_d forbid items) have been covered.

ONE ENGINE ALONE IS 5 GRAND ON MY RIDE...
 
Get your money back, its not worth $5,900... The warentee does not cover your exhaust or anything caused by rust. It does not cover anything that is caused by your mistakes... I would put the $5,900 into new batteries, exhaust and raw water pumps when you need them...
 
I just had the trim senders on both drives replaced under warranty by Merc. Glad the PO bought the extended warranty!
 
JimT said:
I just had the trim senders on both drives replaced under warranty by Merc. Glad the PO bought the extended warranty!
Click to expand...


Good for you... :thumbsup:
 
I did not buy the extended warranty on my 320 - it was $5k and added 3 years to the original 1 year - I wouldn't be concerned with the transmissions if they have been maintained. My dad bought a 5 year on his 290 Amberjack and both outdrives failed - the warranty covered rebuilt drives - he paid the premium for new Bravo III's. For him he made out well. So, far (knock on wood) I have not had any mechanical failures.
 
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So I called them and advised I wanted to drop the warranty.

My salesman called back and offered a free 100 hour service coupon on one engine and my generator if I would not drop it.

So now we are at what $4900.00? unless I did the 100 hour myself then we are at $5500.

So If I do not have a Transmission failure, and we are only concerned with the engines what are we talking about,, short of catastrophic engine failure we would have a hard time getting to $5000.00 ??
 
Panchita said:
So I called them and advised I wanted to drop the warranty.

My salesman called back and offered a free 100 hour service coupon on one engine and my generator if I would not drop it.

So now we are at what $4900.00? unless I did the 100 hour myself then we are at $5500.

So If I do not have a Transmission failure, and we are only concerned with the engines what are we talking about,, short of catastrophic engine failure we would have a hard time getting to $5000.00 ??
Click to expand...

If I were you, I would still ask for my money back… The fact that they want to give you a free 100 hour check up to keep the warentee, only means that they over charged you for it, in the first place… At hundred hours you get an oil change, which you can do your self with a $50 oil extractor. Don’t cut it too close to getting you money back; you may have to request it in writing…
 
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