Extended Warranty and Insurance.

11108 Views 17 Replies 16 Participants Last post by ptmx2, Sep 8, 2016

nfr3

Discussion Starter · Jun 26, 2015 (Edited)

Hey guys

I'm about to purchase the R3 at the dealership but they are trying to sell me a 4 year extended warranty. Did anyone go with this? I know the R3 is a first year production model but will the regular yamaha warranty be enough? They are asking $1075 for this...

This is my first time purchasing a brand neww motorcycle so i'm not sure what you should normally go with.

They are also selling a critical illness and disability insurance coverage in the event that something happens to me and i am unable to make the monthly payments... they are asking $1050 for this..

Any thoughts would be appreciated.

Thanks in advance.

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FangShui

· #2 · Jun 26, 2015

nfr3 said:
Hey guys

I'm about to purchase the R3 at the dealership but they are trying to sell me a 4 year extended warranty. Did anyone go with this? I know the R3 is a first year production model but will the regular 1 year warranty be enough? They are asking $1075 for this...

This is my first time purchasing a brand neww motorcycle so i'm not sure what you should normally go with.

They are also selling a critical illness and disability insurance coverage in the event that something happens to me and i am unable to make the monthly payments... they are asking $1050 for this..

Any thoughts would be appreciated.

Thanks in advance.

Personally, I'd say skip both of those. Modern motorcycles break very rarely and payments on a $5000 bike are pretty low so you'd find some way to make them.

If the payment thing concerns you, you'd be better off putting $50 a month in a savings account. If for some unseen reason you need to use it to make payments, it's there. If not, you'll have some extra money to pay for mods, gas, etc., down the road.....

Reactions: 3

nfr3

Discussion Starter · #3 · Jun 26, 2015

Thanks for the quick reply!

yea that's what i am thinking too.

3th3r

· #4 · Jun 26, 2015

Depends on the type of person you are.
If the extra cost is no problem, and you prefer to have someone else take care of any problem that might arise, then purchasing the plans may make sense. If the extra cost is a hardship, and/or you are a "hands-on" type of person when it comes to dealing with problems that might arise, then it will probably be better to skip it.

Timbo64

· #5 · Jun 26, 2015 (Edited)

I'm going to buy an extended warranty on my R3.
However, $1000+ is a HUGE ripoff!!!!!!!!!!!!!! They're REALLY trying to screw you....big time!!!!!!!!!!!!!!!!!!!
My local dealer will sell me a four year YES warranty for $399.00.

Also, you have 12 months to decide if you want a YES warranty. You can purchase one at any time during the first 12 months of ownership from any licensed Yamaha dealership (depending on state laws, however).

YES coverage is available for a lot less $$$$$ than what your dealer is trying to make you pay.
for Example:
http://www.ebay.com/itm/Genuine-Yamaha-4-year-extended-warranty-motorcycles-YES-/250462210568
$449.00

Reactions: 1

SunGawd

· #6 · Jun 26, 2015

You can get the 48-month for $285, maybe less. I showed this to my dealer and they agreed to the discount price...Poker Face!!!

http://www.yamahapartsnation.com/page/yamahayesplans

Reactions: 1

Mike-the-Bike

· #7 · Jun 26, 2015

I'd pass on both from that dealer. Any other dealers in your area? Shop around. +1 on the comments above about price/DIY

Reactions: 1

nfr3

Discussion Starter · #8 · Jun 26, 2015

I forgot to mention that I live north of your guys in Toronto and prices seem to be a lot more than what you guys are quoting!

Yup i called a few other dealers and they all said you can purchase the Extended warranty for the R3 afterwards before the 1 year factory warranty expires.

They also said you should go with the Yamaha Warranty.

I am going to decline / cancel both from the dealer.

Thanks for all your advice!!!

Tintin

· #9 · Aug 8, 2015

I'm sorry to bump this thread but I was wondering if this is a deal directly from Yamaha or someone else?

That link makes me think it's third party in a way since it says "Member of CyclePartsNation.com"

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Hobbez

· #10 · May 15, 2016

My dealer who sold me the bike said to me "you can also purchase the extended warranty, but personally i think its bullshit. These bikes will last forever.. You have nothing to worry about."

AesonVirus

· #11 · May 15, 2016

My dealer quoted me $699- for the extended 4 year warranty. I laughed so they dropped it to a "one time, must decide now" offer of $649

I have 12 months to decide if I want an extended warranty through Yamaha so I'll shop around but I'm certainly not dropping $700 on one.

Homyality

· #12 · May 15, 2016

These bikes will last forever yet have multiple common issues right out of the box... Mine has already been in twice for warranty work.

I purchased a 4 year extended warranty for $400 because I plan to pass my bike down in the family once my fiance gets done with it. The good news is, though, is the warranties are typically transferable so that can be a slight selling factor if/when you go to resale on down the road.

Reactions: 1

zdaman

· #13 · May 16, 2016 (Edited)

Yamaha sent me a letter stating my warranty was about to expire and I could get the YES warranty with either 1, 2, or 4 years. The 4 years was like $410 and they even let you make payments with zero percent interest on it. I think it was like $60 bucks a month or something like that.

Ishmerai

· #14 · May 26, 2016

I purchased my bike used from an individual who purchased the Y.E.S. warranty for a little under $400 for 4 years. The warranty is transferable, but must be transferred within 15 days of the purchase and must go through an inspection by a Yamaha dealer. My inspection cost $35, so definitely worth it for me to keep the warranty active!

cwick2000

· #15 · May 26, 2016

Hobbez said:
My dealer who sold me the bike said to me "you can also purchase the extended warranty, but personally i think its bullshit. These bikes will last forever.. You have nothing to worry about."

Agreed,extended warranties are almost always a bad deal,especially if you are financing the purchase as a $600 warranty can end up costing $900 or more. Best advice is to take care of your ride,follow the service schedule and enjoy.

littlehoe

· #16 · Jun 15, 2016

Well I can't post a link cause I am new but if you are on the Yamaha Canada site you can click warranties and then at the bottom it has a link for the retail prices of the YPP. From what I read there its $399.25 for a 4 year plan for the R3, I haven't picked up my bike yet but hopefully I will be getting it next week. I am still contemplating the extended warranty, especially at that price. That's cheap insurance if you have an engine or transmission issue after 3 years of good use.

Reactions: 1

BluebirdR3

· #17 · Jun 15, 2016

Well when I purchased mine (and I'm in the GTA so closer to the OP), the dealer quoted me around $499 for the Yamaha Extended Service contract.

Essentially as they have pointed out already, it comes down to your own comfort level. If you can't be bothered to fix a bike yourself and want coverage as well as knowing you will be keeping it long term then it might be worthwhile to invest.

As for Life / disability coverage you have to ask yourself - can you afford to make the payments if you are off sick and unable to work? If the answer is not a definite 'yes' then its something you should seriously consider (especially if you might only be working hourly for example). But even salaried folks only get 66.7% of their full pay (here in Canada).

FWIW, I declined the Extended Service Contract but only because I'm fairly handy and mechanically inclined. And since I don't need the bike as a primary or even secondary mode of transportation, I can afford for it to sit for days while I figure things out. Good luck and enjoy the bike!

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ptmx2

· #18 · Sep 8, 2016

Dupes

i notice all the folks who got knocked out prices on a Y.E.S. did not provide a link or name to the dealer or wherever/whoever the warranty was purchased.....!

probably minors not old enough to ride !

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