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Jan 23rd, 2013
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Extended warranty for my boat??? Any insight?! #13631585 07/15/20 03:58 PM
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Tjbev13 Offline OP
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So, long story short, I'm purchasing a used 2017 Ranger z520c, the boat has 2 years left of merc gold coverage until Feb 2022, I cannot extend Merc's coverage since the factory warranty expired this Feb, I'm financing this boat through rec lending and they are offering a extended warranty to Feb 2025 for $3k. All the reviews I looked up this company were not good, but you know how that goes on the internet. The warranty coverage is through Revolos/ Northstar marine. Anyone with any real world experience?? Thanks!

Attached Files northstar 1.JPGnorthstar 2.JPG
Moritz Chevrolet - 9101 Camp Bowie W Blvd, Fort Worth, TX - Monte Coon (817) 696-2003
Re: Extended warranty for my boat??? Any insight?! [Re: Tjbev13] #13631610 07/15/20 04:28 PM
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Flippin-Out Offline
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You'll have collision protection from your loan-required insurance, so that would kick in if you hit something in the water. Remember, you'd be financing that $3k warranty (really an insurance policy also) for the life of the loan, so run a scenario to see how much interest you pay over time - probably time even beyond the warranty period? Then, run another scenario where you put $ into an account each month instead of paying principal + interest. You'll be ahead unless you have a catastrophic loss right up front, which the odds are against because the insurance company makes money overall. This works if you have some $ cushion for life's unexpected fails, but doesn't work if you have no financial impact padding. I admit there's some gambling involved, but the insurance companies always come out ahead, or they'd go away in bankruptcy; that's something to think about, but less so if you don't expect to ever be able to pay to fix it if it breaks.

Re: Extended warranty for my boat??? Any insight?! [Re: Tjbev13] #13631623 07/15/20 04:38 PM
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bronco71 Online Content
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^^
also be sure to read the extended warranty to see what is covered. Sometimes there are exclusions and only partial coverage...


1999 Triton TX21/225 Mercury Optimax
Re: Extended warranty for my boat??? Any insight?! [Re: Tjbev13] #13631733 07/15/20 06:05 PM
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B. Dill Offline
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As a general rule of thumb I don't believe 3rd party warranties are a good value. The first thing I would do is make sure your local shop accepts this.

Re: Extended warranty for my boat??? Any insight?! [Re: Flippin-Out] #13632025 07/15/20 09:49 PM
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El Skeeter Offline
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"AS stated above third party warranties ARE NOT a good value."
Do an internet search and you will get same not good results.

Re: Extended warranty for my boat??? Any insight?! [Re: Tjbev13] #13632224 07/15/20 11:53 PM
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Rich12 Offline
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Unless the warranty is offered by the manufacturer..ie.. Merc offering a warranty on the Merc.. they are useless. My crankshaft broke. Oh we dont cover that. Total BS


If it was a stupid idea, you can be assured I have already done it
Re: Extended warranty for my boat??? Any insight?! [Re: Tjbev13] #13632548 07/16/20 10:40 AM
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Peepaw on Fork Offline
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Take it to Toledo Fiberglass and have a gorilla hull put on it. Lifetime hull warranty


H. Burns
Re: Extended warranty for my boat??? Any insight?! [Re: Tjbev13] #13632588 07/16/20 11:46 AM
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Tjbev13 Offline OP
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Yea, I'm passing on it. Thanks guys

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