Portfolio One RV extended warranty - worth having?

[Glenn B]

Hello…..I collect my 2022 View 24D next month, I have been offered an extended warranty through Portfolio One……does anyone have any comments or views on 1. Purchasing any extended warranty (value) and 2. Is Portfolio the way to go if it is worth it. I intend to keep the RV for 3 years or so depending on use and so transferring or cashing in the warranty is important. I have been told that Portfolio will prorate any unused warranty and return the remaining balance. I appreciate anyones feedback….good and bad!

[creativepart]

You will get a LOT of opinions on this.

Many (Most?) don't feel that the Extended Service Contract is worthwhile. Dealers buy these contracts at low cost, mark them up 100%, 200% and higher and then attempt to get buyers to believe that they are both necessary and a safe bet.

I think you'll learn that's not really the case.

Be aware, they are not "warranties." They are an insurance policy. They are betting you'll never need the insurance and you must bet that you will. As in Vegas, the "house" just about always wins.

Also, you can be sure that if it's the dealer offering your this (or any other addon) to your RV purchase that it's a bad deal and over priced.

There are companies that sell these service contracts directly (CoachNet, Wholesale Warranties, etc) without the obscene dealer markup.

I know nothing of Portfolio One - they are a company that has half a dozen names that they operate under. They ONLY sell through dealers and they hide their pricing to let dealers charge whatever they can get.

Remember, if you get one of these contracts, all repairs will have to be submitted to them for approval BEFORE any work can begin and if they say "NO" then they will not pay for the repair. Plus, you will be required to follow ALL prescribed maintenance and make no material modifications to keep the contract in force.

My suggestion would be to tell the dealer NO THANKS. And be aware there are probably 4 or 5 other needless, useless and overpriced things at closing that they will say are something everyone buys and needs to buy.

[Glenn B]

Thanks for the thorough reply, I totally get what you are saying. I am going to pass on the ‘extended warranty’ and some of the other items they tout. Thanks again for your advice based on experience!
Glenn.

[creativepart]

Glenn, just keep in mind that my take on this is just my personal opinion. If you do more research here and on www.irv2.com you’ll find some others that disagree and have gotten value from their extended service contracts.

It’s a decision you should make based on all the information available.

[BobC]

Good decision, especially since you'll have a pretty good factory (Winnebago and Mercedes) warranty package as it is. If you're only planning on keeping it for three years or so, you'd essentially be buying the extended warranty (insurance policy) for a future buyer and, if they don't want it, a pro-rated refund.

I'm curious, what are "the other items they tout"?

[Glenn B]

Hi Bob….tire inflation self sealer (it is something like I use on tubeless bicycle tires, it a gooey substance that fills a small hole and permanently seals it)….I will always put on high grade tires (Michelin or Continental) and have installed by the dealer a tire pressure monitoring system which will be fine. Helium in the tires……might save a little with MPG but I don’t think it worth it especially as they have to be filled with it when pressure is down. Obviously the big up sell has been the extended warranty which at over $6K seems high given what you said about the value of Winnebago and Mercedes warranties.

[Truckman]

You have to weigh the cost to buy versus the benefit you will receive. Personally I didn't buy one and haven't had anything that would have been covered, they even tried to sell a tire warranty with sealant for $900. Remember if you add it to purchase price you will be paying for for the life of the loan at your given interest rate, assuming there is financing involved.

[BobC]

[QUOTE=Glenn B;3913750]Hi Bob….tire inflation self sealer (it is something like I use on tubeless bicycle tires, it a gooey substance that fills a small hole and permanently seals it)….I will always put on high grade tires (Michelin or Continental) and have installed by the dealer a tire pressure monitoring system which will be fine. Helium in the tires……might save a little with MPG but I don’t think it worth it especially as they have to be filled with it when pressure is down. Obviously the big up sell has been the extended warranty which at over $6K seems high given what you said about the value of Winnebago and Mercedes warranties.[/QUOTE

Those should get a definite pass.