extended warranty: good idea...or rip-off?

Just bought a boat. The engines, twin Yamaha 225 four strokes,<br />have a thee year warranty. The dealer is offering to extend the warranty three MORE years, for a total of 6, for about $4,500 for the pair. Is this a good idea, or is this a rip off? What would you do?

Re: extended warranty: good idea...or rip-off?

Hi,<br />It depends on several things, for example:<br />a) Are You sure You are going to use the new outboards beyond the standard 3 year warranty?<br />b) What the extended warranty say (also the fine print), for example You for sure must let a Yamaha authorized service center do service and such.<br />c) Is the ext warranty transferable to a new owner?<br />d) Some parts in an outboard are very expensive and it could be the $4500/2 on each is well worth it some day.<br /><br />If anything happen in the future after 3 year and You have not the extended warranty You will probably blaim Yourselv for not get the extended warranty. And If You get the ext warranty and nothing happens You will maybe say it was a waste of money.<br /><br />Anyway, I have a Yamaha F115 (2003) that I have 5 year warranty on (3 standard and 2 extended). I have always in mind an warranty thing with an almost new car I owned many years ago. I got extended warrany on that car and after a year or so the automatic transmission broke. The cost to repair was about $4000 and the extended warranty covered this. Since this happened I always get extended warranty on expensive things I buy. I might turn out unneccessary in the end but once You had a case like my car above You just know it can be worth it in a worst case scenario.<br />Yamaha for sure make quality things but they will not be 100% error free.<br />You sure can get rather much repair made on those Yam F225 for $4500 so it is of course tempting to take a chance and not get the ext warranty.<br /><br />Good luck and post back what You decided and why. It is always interesting to hear how people think in a case like this about the pros and cons and what was most important argument to select or not select ext warranty.

Re: extended warranty: good idea...or rip-off?

I view ex. warranty's as an insurance policy. Its good to have if you need it.