Is an extended warranty worth it?

I just bought a Yamaha 225 4 stroke and have been offered a 2year extended warranty for $400. I have never bought an extended warranty on anything. Is this worth it?

Re: Is an extended warranty worth it?

apt,<br /><br />Look at it this way.<br /><br />An extended service agreement for $50.00 on a $200.00 TV is not worth it. That's 25% of the replacement cost.<br /><br />However, for $400.00 on a $15,000 outboard, that makes sense. The extended service agreement is less than 3% of the replacement cost.<br /><br />I guarentee you, you won't get out of a outboard repair shop for anything electronic or minor mechanical for less than $400.00.<br /><br />Read the fine print and understand, up front, what is covered and not covered.<br /><br />Personally, I am a big believer in them for big ticket items like autos and such.<br /><br />Check for transferability. Should you decide to sell the rig within the coverage period, you will get every penny back.<br /><br />Think about it. Wouldn't you be more likely to buy a piece of equipment that was still covered under some type of warranty.<br /><br />I have proven it over and over again by the ease of selling autos and other items that had a coverage.

Re: Is an extended warranty worth it?

Hi,<br />When I bought my Yahama F115 4-stroke earlier this year I added 3 year extra warranty (2 year is standard warranty in my country). Since the Yamaha 4-stroke has EFI, microcomputer ignition etc and the "electronic boxes" might (or hopefully might not) be a problem later and some components I'm sure is expensive to repair/replace if no warranty... I think the extra cost is worth it. It is the electronic things I'm worried about as the outboard gets older and older.<br />I assume it is the Y.E.S. You have been offered?<br /> http://www.yamaha-motor.com/yes/yes_marine.html <br />It is transferable.<br /><br />/Bo

Re: Is an extended warranty worth it?

I ditto djohns19 and add that it has to be insured by the manufacturer, not a 3rd party.

Re: Is an extended warranty worth it?

I have seen so many problems with outboards that I would not hesitate to buy it. I had one on my Merc200, paid like $900 for 3 years extra. 13 months out and 140 hours, a rod cap let go and mercury told me to kiss off and the extended warranty picked up the $3200 bill. I had to pay the sales tax wich I thought was a bummer, but like the post above says, READ & UNDERSTAND the super fine small print because they uphold it strictly. The adjuster they sent to look at my motor took 4 hours to go throught he box of parts and the shop finally had to ask him to leave as he was such a pain, but they did pay after negotating the price down with the shop.<br />Are the worth it? Only if you are unlucky enough to need it

Re: Is an extended warranty worth it?

apt,<br /><br />Did you take delivery of the motor yet? Your dealer may be collecting your $400 without any skin off his back.<br /><br />Heres why http://www.yamaha-motor.com/products/categories02.asp?lid=5&lc=otb: <br /> Not sure if all the specifics apply to your motor but Yamaha is having a promo for an extra 2yr extended warranty coverage on new Four Stroke motors through March 2004.<br /><br />I ordered the new 150 four stroke on a boat I will be taking delivery on in the spring and am getting a 5yr warranty.<br /><br />If you didn't take delivery yet or just took delivery you may want to see if the dealer can squeeze the extended warranty promo out of Yamaha.<br /><br />Kevin

Re: Is an extended warranty worth it?

Worth every penny on a new motor! Peace of mind goes a long way when you are on the water and something goes afoul! You know you are covered. Just like car insurance!!

Re: Is an extended warranty worth it?

PAkev, this is precisely the promo I am trying to get. The line from the dealer is that they have a "cost" and are just passing it through. Said they would have put in in the price during the upcoming promo during the Winter Boat shows. <br />How can I find out if there is a true cost?<br /><br />I do have a spring delivery. Its at the dealer now but they did not call me about the warranty until 1month into my order.<br /><br />Thanks.

Re: Is an extended warranty worth it?

Do you have to get the extended warranty at the time of purchase, or can you buy it just prior to the basic warranty expiring? There would be benefits to waiting.

Re: Is an extended warranty worth it?

apt,<br /><br />Not sure if you worked with this dealer before but it sounds like they may be trouble right out of the gate. <br /><br />First, I would contact Yamaha directly and inquire if their extended warranty promotional offer requires an additional cost which the dealer is imposing on you. From the context of their literature and advertisements there is no suggestion of an extra cost.<br /><br />Since you did not take delivery yet, I would insist on the 2yr extended warranty at no additional cost or else look for another dealer to buy your motor from.<br /><br />Kevin