Just bought a new car...advice please.
 

Hey OOT, just purchased my first new car - a modest 2008 Black Honda Civic EX 2dr coupe.

Naturally I got full coverage from my insurance company, but the dealership offered me the following additional services. Of course the natural reaction is "lol insurance is -EV," but some of this stuff seems like it might be worth it.

For what it's worth, I live in a very safe town, but would still be driving occasionally to Fallsview, or Turning Stone. Sometimes maybe goto Cleveland...

Here's the standard warrenty:

* Bumper-to-Bumper Limited Warranty (years/miles) = 3/36,000.
* Powertrain Limited Warranty (years/miles) = 5/60,000.
* Corrosion Limited Warranty (years/miles) = 5/unlimited.
* Accessory Limited Warranty - All Honda accessories are covered up to 3 years or 36,000 miles, depending on time of installation.

And here are the other options they're offering:

Merchanical Breakdown Protection - $1,681
"Provides cost of parts and labor for covered repairs. Includes towing, rental car and roadside assistance for 84 months or 100k miles with Disappearing Deductible."

Theft Protection Program - $279
"Provides security coding protection for your vehicle, and offers a payable benefit of $5,000." So if my car were stolen and my insurance company gave me $18k for example, Honda would give me $5k on top.

Road Hazard Protection - $269
"Tire and Wheel Road Hazard Protection. 100% of repair and/or replacement. Not Pro-rated." They told me even if I bought new tires they'd replace any tire/rim's I bought.

Ultra Lustre - $325
"Exclusive Paint and Fabric Protection against acid rain, road salt, and other harmful elements for up to 5 years."[/b]

Dent Zone - $289
"We Will Repair External Dents and Dings for 5 years, Unlimited Miles."


I paid cash for this vehicle and the money isn't a big deal....that being said I'm not going to pay money on services that aren't necessary.

Any advice would be great, thanks.

Re: Just bought a new car...advice please.
 

standard "shouldn't buy new" blah blah.

all those seem pretty crappy extras except maybe theft one, but that doesn't really seem good either.

just go with your standard warranty, get security system for it, sign up for AAA, and you're set.

Re: Just bought a new car...advice please.
 

sucker bet yo

Re: Just bought a new car...advice please.
 

They're not selling those things at a loss, and they aren't pooling risk in the same way that insurance is. If you can buy a new car, you don't need any of those things.

Re: Just bought a new car...advice please.
 

I would decline all of those. They look like typical dealer ripoff add-ons.

Re: Just bought a new car...advice please.
 

Yea, I pretty much figured. Thanks.

Re: Just bought a new car...advice please.
 

pics of car?

Re: Just bought a new car...advice please.
 

Add ons are crap, the only one I like is road hazard protection, if they pay for tires/wheels and the tow truck, but you are probably better off getting that directly from your insurance agency.


although, honestly enough, that dent zone, if you get unlimited fixes, isnt a terrible deal. Most people dont care about a little scratch or ding, Im anal, and might even get that if it covers scratches and dents.

Re: Just bought a new car...advice please.
 

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Add ons are crap, the only one I like is road hazard protection, if they pay for tires/wheels and the tow truck, but you are probably better off getting that directly from your insurance agency.


although, honestly enough, that dent zone, if you get unlimited fixes, isnt a terrible deal. Most people dont care about a little scratch or ding, Im anal, and might even get that if it covers scratches and dents.

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just make sure to read the fine print on the dent thing and be sure its really unlimited.

also, this is like a gym membership, how good of a deal it is will be determined by how many times you use it.

Re: Just bought a new car...advice please.
 

I'd consider the Dent Zone. I hate those little nicks you get in parking lots and such and it would be great to have that taken care of for 5 years. Then again I live in an urban area where people drive and park like idiots.

Re: Just bought a new car...advice please.
 

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Add ons are crap, the only one I like is road hazard protection, if they pay for tires/wheels and the tow truck, but you are probably better off getting that directly from your insurance agency.


although, honestly enough, that dent zone, if you get unlimited fixes, isnt a terrible deal. Most people dont care about a little scratch or ding, Im anal, and might even get that if it covers scratches and dents.

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just make sure to read the fine print on the dent thing and be sure its really unlimited.

also, this is like a gym membership, how good of a deal it is will be determined by how many times you use it.

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right. If it covers them fixing even cosmetic scratches, a long with all dents, dings, etc for 5 years, an you can go as many times as you want to get things fixed, I really think thats a pretty decent deal. You might not use it your first year or two, but after 3 years cars usually get noticeably dinged up.

Re: Just bought a new car...advice please.
 

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pics of car?

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It's nothing great (compared to the standard ballin car), but I always though spending 50k+ on a new car was kind of silly. It's still nice though, I pick it up tomorrow and will post a pic either here or my blog.

And the dent removal thing was the only one I was really considering.

Re: Just bought a new car...advice please.
 

Here's the rub on dent removal. How often will you want to deal with dropping the car off at dealer for this service? You will either be stuck waiting there or will need to get a ride from a friend.

If your plan is to go almost the full 5 years and then get everything fixed at once I guess it could be worth it. I'd just read the fine print and if there are any exclusions like nicks or chips as opposed to dents I'd pass on it.

Re: Just bought a new car...advice please.
 

Thoughts on the theft one being +EV since he has the most commonly stolen car in America?

Re: Just bought a new car...advice please.
 

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Thoughts on the theft one being +EV since he has the most commonly stolen car in America?

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nah, depending on where you will be driving, but doubtful, usually when a car tops the list its about one out of 200 of that particular model stolen anually. so you are getting about 17:1, for a 200:1 shot.

Re: Just bought a new car...advice please.
 

Don't go for any of that extra BS. Plus why not buy 2 years old for much much cheaper and throw the rest in a Roth IRA?

Re: Just bought a new car...advice please.
 

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Don't go for any of that extra BS. Plus why not buy 2 years old for much much cheaper and throw the rest in a Roth IRA?

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I have managers/accountants to assist me in investing my money and taking care of similar matters. I've had a very successful year and thought it'd be nice to get a brand new car that's also very reasonable and reliable (Honda Civic's are one of the most reliable cars on the market).

Don't worry about me....just curious if the additional insurance things are worth it.

Re: Just bought a new car...advice please.
 

You employ a juggernaut of managers and accountants and yet you don't know that extra "protection plans" from new car dealers are a huge ripoff and waste of time?

Fine, I'll buy it. They are a waste of time, you don't need them. Congrats on the big year.

Re: Just bought a new car...advice please.
 

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You employ a juggernaut of managers and accountants and yet you don't know that extra "protection plans" from new car dealers are a huge ripoff and waste of time?

Fine, I'll buy it. They are a waste of time, you don't need them. Congrats on the big year.

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No, I don't...it's my first time buying a car. Sorry if that came off bad, but I have no experience dealing with this kind of thing.

And I have one accountant who sometimes asks like a manger...he mostly deals with my taxes, but he has helped me with other things occasionally.

Re: Just bought a new car...advice please.
 

Adam,

Google 'Ultimate Warranty Company'. The coverage you can buy from them is more comprehensive and cheaper than what you're being offered at the dealership.

I had this insurance on my Corvette and had 2 rear-ends, one torque-tube, 1 transmission, and 1 engine replaced no questions asked. It was pretty amazing.

Re: Just bought a new car...advice please.
 

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Google 'Ultimate Warranty Company'. The coverage you can buy from them is more comprehensive and cheaper than what you're being offered at the dealership.

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This appears very sensible (like your car purchase, smart, good move)... Also, Honda offers scaling warranty packages well over that once you feign disinterest. I got mine up to 5yr/100k mi mechanical for $600ish at time of Accord purchase.

Re: Just bought a new car...advice please.
 

Skip all of it. Dealerships make more money selling this overpriced stuff than they do selling the actual car. I turned down $6,000 worth of this crap last time I bought a car.

Another suggestion no one's mentioned -- consider going with a high insurance deductible. $500 minimum. If you can pay cash for a car you can come up with $500, and you'll save a lot on premiums. Also, filing claims raises your rates, so if you get into a $500 fender bender you probably just want to pay for that yourself anyway.

There are probably people on 2+2 that regularly play cash games or tournaments with buyins higher than their car insurance deductible. Think about how silly this is.

[ QUOTE ]

Merchanical Breakdown Protection - $1,681
"Provides cost of parts and labor for covered repairs. Includes towing, rental car and roadside assistance for 84 months or 100k miles with Disappearing Deductible."


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What's a covered repair? How does the deductible work -- it might be something like $25 per part, so you have to pay $25 for every part they use. "Disappearing Deductible" sounds good but means nothing. Hondas are good cars, you're not going to need to spend $1600 on repairs. Do you even plan to drive the same car for the full 84 months?

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Theft Protection Program - $279
"Provides security coding protection for your vehicle, and offers a payable benefit of $5,000." So if my car were stolen and my insurance company gave me $18k for example, Honda would give me $5k on top.


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Translation: they probably etch the VIN on your windshield. For this you pay $279. What does "payable benefit" mean? Any fine print that gets them out of paying even if your car gets stolen? This is +++EV for the dealer.

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Road Hazard Protection - $269
"Tire and Wheel Road Hazard Protection. 100% of repair and/or replacement. Not Pro-rated." They told me even if I bought new tires they'd replace any tire/rim's I bought.


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Again, restrictions? Also in general, don't insure against losses you can afford (this goes for extended warranties at Best Buy, etc. but that's a different topic). Skip this "protection" and just buy new tires if you need them.

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Ultra Lustre - $325
"Exclusive Paint and Fabric Protection against acid rain, road salt, and other harmful elements for up to 5 years."[/b]


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Unnecessary and massively overpriced. The paint from the factory is fine. Wax the car later if it needs it.

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Dent Zone - $289
"We Will Repair External Dents and Dings for 5 years, Unlimited Miles."


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Most people probably never use it. A year or two from now, if you get a dent or ding, will you notice or care enough to take it in to the dealership? Someone already compared this to gym memberships. Same idea.

Re: Just bought a new car...advice please.
 

Thanks Dave,

FWIW, I have great car insurance and a $500 deductible. I think I'm gonna ask my local (trust-worthy) car repairman and see how much it costs to repair dents/ding's and see if Honda's additional coverage is worth it.

I'm fortunate to have the money to cover almost any repair and I bought the Honda because of it's reliability....I think the included warranty and AAA is optimal.

Re: Just bought a new car...advice please.
 

On the dent repair, you need to find out specifically how they are repairing the dents. If they are actually filling and repainting, this is probably a great deal for you. If they are doing Paintless Dent Repair, skip it. The Paintless Dent Repair will work great as long as the paint is not broken. And if the primary purpose is door dings, you have a 50/50 shot at the paint being messed up. If all they are going to do is work the metal back out smooth, it doesn't do you any good because your paint is jacked up.

Re: Just bought a new car...advice please.
 

not to derail, but when you read so much 2p2, what would possess you to still go ahead and buy new?

Re: Just bought a new car...advice please.
 

I think when you are buying a car that could potentially last 5-10 years, buying new isn't a terrible idea, obv you lose a ton of equity the second you buy it, but if you plan on taking good care of it (driving reasonably, getting oil changes regularly as well as regular tune-ups, tire rotations and balances) you can still get very good value for your money.

Re: Just bought a new car...advice please.
 

Just so you guys know, buying new isn't always as bad as people make it out to be.

There are definitely times when manufacturers offer really good incentives/rebates.

I've seen cases where a current year (2007 model) would go for only $1000 more than a 2006 model, and the 2007 had a better warranty (5yr/60k vs. 3yr/36k)

It's -almost always- better to buy used, but new isn't always that terrible.

Re: Just bought a new car...advice please.
 

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not to derail, but when you read so much 2p2, what would possess you to still go ahead and buy new?

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it's nice to have a new car

Re: Just bought a new car...advice please.
 

Chevy's bumper to bumper warranty includes roadside assistance and towing reimbursement. [img]/images/graemlins/frown.gif[/img]

Also:
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Theft Protection Program - $279
"Provides security coding protection for your vehicle, and offers a payable benefit of $5,000." So if my car were stolen and my insurance company gave me $18k for example, Honda would give me $5k on top.



Translation: they probably etch the VIN on your windshield. For this you pay $279. What does "payable benefit" mean? Any fine print that gets them out of paying even if your car gets stolen? This is +++EV for the dealer.


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At our dealership it involves making the ignition so that only the key coded for the car will start it, and other objects like screwdrivers (lol) put into the ignition will shut off the electrical to the starter. Its something like if you're car isn't recovered within 30 days also for when you get the extra payment.

Re: Just bought a new car...advice please.
 

The 2007's were about $1,500 less than a brand new 2008.

I've profited over $500k this summer and would like to think most 19 year old's wouldn't be as sensible as I'm being and would buy like a BMW or something really expensive and unpractical. Civic's are nice reliable cars. (I actually know quite a few people that've spent like half their roll on a car)

Re: Just bought a new car...advice please.
 

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not to derail, but when you read so much 2p2, what would possess you to still go ahead and buy new?

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it's nice to have a new car

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Buy a used car that someone has probably treated like trash, not taken care of, or has general older car problems vs. getting a new one and not having to mess with it? If you are going to keep the car a long time as well, it works out too.

Re: Just bought a new car...advice please.
 

don't offer any explanations Adam, you DESERVE a brand-spankin' new car if that's what you want. Just the smell alone is worth $1500 at least once in your life. Enjoy!

Oh, and don't get any of the extras. Also, your ins. probably includes towing, possibly lock-out protection.

Re: Just bought a new car...advice please.
 

Just get AAA man [img]/images/graemlins/smile.gif[/img]

Re: Just bought a new car...advice please.
 

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The 2007's were about $1,500 less than a brand new 2008.

I've profited over $500k this summer and would like to think most 19 year old's wouldn't be as sensible as I'm being and would buy like a BMW or something really expensive and unpractical. Civic's are nice reliable cars. (I actually know quite a few people that've spent like half their roll on a car)

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it has nothing to do with being sensible. you buy what you want to buy.

Re: Just bought a new car...advice please.
 

ADAM [censored] JUNGLEN