Basically fraudulent. Financial manager tries to sell you the extended warranty (5 year / 100,000 mi) whichever comes FIRST...for $3500. They TELL you that they will refund you the entire amount in 5 years/ 100,000 mi, whichever comes first, if you don't use it. What they don't tell you is that WRITTEN in their contracts are hidden terms and conditions (that they KNOW no one will read) that says you have to wait for whatever comes LAST (in my case, it's been 3 years, I'm at 100,000 mi, and have to wait another 2 years to get refunded) SO, what this says, is I am no longer covered, AND I have to wait another 2 years to get the money back. \r
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Funny thing is the Honda Corporate site does not endorse this, and actually says on their site: \r
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""Some dealers, as an inducement for you to purchase a service contract, will include a separately purchased insurance policy that may refund whatever you paid for the service contract if it expires and you have not filed any claims. These insurance companies are not affiliated with Honda and Honda does not endorse them. The terms and conditions of these policies make it so that very few people ever collect on them.""\r
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I know in 2 years from now when I try to collect, there will again be some hidden term or condition that will prevent me from doing so.\r
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Any business who is comitting fraud, is not worth doing business with. \r
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I mentioned to the Sr. Manager that verbal agreements are considered binding. His response is that they have a clause in that very same contract that says any verbal agreements are not viable and only written contracts are binding. Basically a clause to protect them so they can lie to their customers.\r
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They steal $3500 fro every person that purchases this warranty.
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