Opinions on extended warranty

G

gizzard

New Member
Jul 11, 2007
12
San Antonio, Texas
Don't know the cost yet

'07 230 select w/ Bravo Mag Mercruiser

Fresh water lake (Medina).....South Texas.....new lake house and boat dock.......boat will be on a "boat floater"........probably put 80 hrs per year on it
 
I bought a warranty on mine it was a few grand but I felt it was a good piece of mind thing. If I hadn't gotten it my luck is all would go wrong but since I have it I'll probably never need it.

IT actually starts after the regular warranty on the boat and covers everything.
 
well i bought the BEST merc extended warranty that they had going.. it put an extra 46 bucks on my payment.... and it a 6 year plan. Its totally worth it. i think it was a couple of grand extra. but go figure it covers almost everything from electrical to overheating and much more.. if you need to get something fixed in the engin it can cost way more up front then the price of purchasing an extended warranty upfront. :thumbsup:
 
cr0ck1 said:
well i bought the BEST merc extended warranty that they had going.. it put an extra 46 bucks on my payment.... and it a 6 year plan. Its totally worth it. i think it was a couple of grand extra. but go figure it covers almost everything from electrical to overheating and much more.. if you need to get something fixed in the engin it can cost way more up front then the price of purchasing an extended warranty upfront. :thumbsup:
Click to expand...

The one I'm about to buy is the Mercury Product Protection Plan, not the Passport. It listed for $1700 for a 2007 250 SLX and I negotiated it down to $900.
 
I think the Mercury plan is much better, and simpler than the Passport. We bought the Mercury plan on our 280 after unsuccessfully trying to decipher what Passport covered. It seemed there was a lot more they didn't cover. After some discussion at time of purchase, we found out that Passport will typically only cover something once. So if part X breaks, gets repaired and covered, then breaks again later, you could be out of luck. Mercury's list of uncovered items is much, much shorter than Passports.
 
Cr0ck1: Not to pick on you, but your long term financial planning will be much more successful if you think in terms of *total cost* instead of *monthly payment*.

If you are financing, you need to be very aware of how total cost relates to monthly payment.

Your warrenty will cost you ($46* 6 years *12 payments per year) = $3312. The upfront cost, assuming 7.5% interest is about $2600.

Now, without doubt a warrenty is not a bad choice for a new boat. First. . .time is often short in the boating season. You want to be able to throw parts at a problem for quick resolution. Warrenty allows you to do that.

I agree that you don't want a warrenty that will nickle and dime you -> It sounds like the Passport is that type of warrenty.

Having said that. . you could still end up paying too much for the warrenty. At $2600 -> you may be approaching that point. What percentage of the original boat price is that? 5-10%? How many extra years is that getting you, and what is the basic warrenty? And this doesn't cover all the stuff that is routine like water pumps and tuneups, right?

The typical stuff that has been breaking in my engine system has been costing me about $500 per incident. I had a riser replacement done last year, which cost MUCH MUCH more -> but that was truely maintenance (10 years old).
 
Personally I am not for or against an extended warranty. I chose not to purchase one on my boat (was offered to me for just under 1K for 6yrs) for many reasons, the main one being that I feel most of the time if something is defective it will show up early, although not always the case. I do agree that having an extended warranty is a great selling tool if you do sell the boat before it expires. Probably one of the reasons many of us bought our boats new, because it comes with a warranty and we don't have to worry abot fixing things.

That's my .02 cents.
 
cr0ck1 said:
My warranty covers EVERYTHING.. EVEN if a doctor says i cant work, I dont have to make payments.. they had some plans that were like 15 bucks extra a month but limited coverage.. if my boat even overheats its covered.. I GOT THE BEST one they had.
Click to expand...

cr0ck1 - I have never heard of a warranty that covers everything (has no exclusions). Do you have a copy of this warranty? Do you know what it is called? Have you read it to see if it has any exclusions? I think you may have gotten something I was not even offered.

Thanks

Wesley
 
First Born said:
cr0ck1 said:
My warranty covers EVERYTHING.. EVEN if a doctor says i cant work, I dont have to make payments.. they had some plans that were like 15 bucks extra a month but limited coverage.. if my boat even overheats its covered.. I GOT THE BEST one they had.
Click to expand...

cr0ck1 - I have never heard of a warranty that covers everything (has no exclusions). Do you have a copy of this warranty? Do you know what it is called? Have you read it to see if it has any exclusions? I think you may have gotten something I was not even offered.

Thanks

Wesley
Click to expand...

ITs the Passport PREMIERE
 
I had the Passport premier when I had my 02' 220SD. when i traded up to my 04' 240DA I was able to tranfer my unused warranty to the new boat and only had to out of pocket the difference when I steped up to the Captains Choice which covers more stuff than the premier on a cruiser boat. ie more things can break. still have 3 years left on the warranty.

I've had several out call service's (they come to my house) from A/C not cooling to bad IAC and so far it's all been covered under warranty. i think the only thing i've had to pay was $20 for the last out call.

retorspect to date on weather it was worth it, not really cause i've been lucky and have not had any real problems. Was it worth it for piece of mind, yes.
 
tphinney said:
I had the Passport premier when I had my 02' 220SD. when i traded up to my 04' 240DA I was able to tranfer my unused warranty to the new boat and only had to out of pocket the difference when I steped up to the Captains Choice which covers more stuff than the premier on a cruiser boat. ie more things can break. still have 3 years left on the warranty.

I've had several out call service's (they come to my house) from A/C not cooling to bad IAC and so far it's all been covered under warranty. i think the only thing i've had to pay was $20 for the last out call.

retorspect to date on weather it was worth it, not really cause i've been lucky and have not had any real problems. Was it worth it for piece of mind, yes.
Click to expand...


So i do have a good plan! :)
 
cr0ck1 said:
First Born said:
cr0ck1 said:
My warranty covers EVERYTHING.. EVEN if a doctor says i cant work, I dont have to make payments.. they had some plans that were like 15 bucks extra a month but limited coverage.. if my boat even overheats its covered.. I GOT THE BEST one they had.
Click to expand...

cr0ck1 - I have never heard of a warranty that covers everything (has no exclusions). Do you have a copy of this warranty? Do you know what it is called? Have you read it to see if it has any exclusions? I think you may have gotten something I was not even offered.

Thanks

Wesley
Click to expand...

ITs the Passport PREMIERE
Click to expand...

Thanks cr0ck1, yeah that is the best that they offer. I found this posting on it. Thanks again for the explanation, mine is just the engine extended warrenty.

http://www.byowneryachts.com/forums/phpBB2/viewtopic.php?t=855&highlight=premier+passport
 
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