So our Jazz is 3yrs old now, and we've been offered Hondacare Guarantee for £400 for a year or £700 for 2 yrs.
Normally I never buy extended guarantees, but, bearing in mind I'd have to get some sort of recovery cover (it's really Mrs Payer's car) and that would cost £70 per year, I'm wondering whether to go for it or not?
The car has been faultless over 3 yrs, but I'm thinking that if almost anything went wrong with it then it could easily cost a small fortune.
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My view:
Put £700 into the highest rate instant access account you can find. If (bear in mind it's a Honda, so it probably won't) something goes wrong then use the money you have put by.
If nothing goes wrong in the two years, then you'll have £700, plus whatever interest it has earnt.
I would rather do this and accept the risk that any repairs may cost over and above the £700 that is put by...
Depends on your attitude to risk I suppose....
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Don't buy a warranty, waste of money. Do however check out other breakdown services, shouldn't be paying £70 more like 30 or 40 on special offer from GEM or the alternatives.
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Don't buy a warranty, waste of money. Do however check out other breakdown services, shouldn't be paying £70 more like 30 or 40 on special offer from GEM or the alternatives.
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I haven?t bought breakdown cover for a very long time ? I bought a 5 yr w?tee (only 1 year was standard in 1998) with our last car, a Clio, and that came with max AA cover. The whole thing was £600, which, amazingly, they repaid after 5 yrs as we?d never made a claim.
I looked at the GEM cover and it?s personal cover, whereas I need vehicle cover. GEM entry price is £43. Even the AA have an entry level price of £32. I travel a fair bit and need to be sure that my wife and kids can call someone if they breakdown or the car won?t start and not be hampered by rules & regs.
The £70 price is Britannia Rescue?s comprehensive cover, which looks pretty good.
I have been back to HondaCare to see if they?ll do it any cheaper, and I can delete the Honda Assist (AA) cover and that makes it £70/yr cheaper ? so it?s broad as it?s long.
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Remember that of the £700 about £70 will actually go into the pot,£350 will be dealers margin,IPT tax and the rest to pay the warranty providers operating costs.Its a Honda not a Euroshed,very unlikely to go wrong.
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