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Extended Warranty?


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I got a letter from my dealer saying my factory warranty is about to expire and giving me option for an extended warranty.
They offered $650CDN for a 4 year unlimited km parts and labour warranty.
 
Is it worth it? I can do most of my own repairs, so anything minor I'm not worried about, but the piece of mind for any big problems would be nice. But is anything 'big' going to happen. I only have 6500km on her so far.
 
TL:DR is an 4year extended warranty worth $650 for a decently competent home mechanic.
 
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If you decide to purchase an extended YES warranty, there is a huge variance in what they get people to pay. Some pay nearly $1000. Others get 4 years coverage for about $350. It all depends on what dealer sells you the warranty. I will have to make the decision on purchasing an extended warranty myself come next spring. If I do, I'll shop around dealers for the best price. I have heard numerous reports of people buying 4 years of YES for an FJR (my other bike) for about $350-$400.
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I bought it. Initially I declined it because the dealer offered it for almost $700. He then came back later and said he could do ~$400. Over the life of my loan, that's very small, so I took it.
 
I bought it more for any catastrophic failures. I'm pretty competent at repairs as well, except when it comes to rebuilding engines/transmissions, etc. It's nice to know that all is covered for another 4 years (seeing as I've owned it for a year now).
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I can't recall ever buying an extended warranty on anything... or ever having anything happen to wish I had.  However, I do have the extended YES warranty on my FJ - but only because the dealer added it for FREE when I bought the bike.  YMMV
 
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If I was one of them ultra rare riders who can clock like 25k miles a year or more to get the YES warranty just due to miles racked up...I barely got 17k miles on my FZ-07 after 2 seasons and almost 1500 miles on my barely 2 month old FJ-09...
2012 wr250f - C-class 30+ age group
2015 fz-07- Hordpower Edition-80whp
2015 fj-09- Graves Exhaust w/Woolich tune by 2WDW @120whp
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If I was one of them ultra rare riders who can clock like 25k miles a year or more to get the YES warranty just due to miles racked up...I barely got 17k miles on my FZ-07 after 2 seasons and almost 1500 miles on my barely 2 month old FJ-09...
Haha I guess I fall into that category....17k since April and still going up here in North East, PA. Planning a Christmas ride roundtrip to FL, so +2k right there. 
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If I was one of them ultra rare riders who can clock like 25k miles a year or more to get the YES warranty just due to miles racked up...I barely got 17k miles on my FZ-07 after 2 seasons and almost 1500 miles on my barely 2 month old FJ-09...
Haha I guess I fall into that category....17k since April and still going up here in North East, PA. Planning a Christmas ride roundtrip to FL, so +2k right there.
I'm in Ft Lauderdale. Give me a heads up if you make it this far. 

"It doesn't matter who walks in, you know the joke is still the same"  Ft. Lauderdale, Florida. USA

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  • 4 months later...
Haha I guess I fall into that category....17k since April and still going up here in North East, PA. Planning a Christmas ride roundtrip to FL, so +2k right there.
I'm in Ft Lauderdale. Give me a heads up if you make it this far.
I didn't see your reply and haven't logged on in a long time, so sorry this is obnoxiously late. I did make it down to they Keys. The trip was awesome, but I regret not being able to meet up with another FJ owner. The trip was 3750 miles exactly round trip. I've been meaning to do a detailed breakdown of the trip. 
As for this post...still not sure if I should buy the extended warranty. I'm at about 22k miles in 11 months on the FJ. I didn't get to ride much in January besides my FL trip. I have until tomorrow to buy the warranty, so I'm wondering if it's worth having now.
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I've never thought extended warranties were a good deal, but I would likely bite if it was down around 300-400 USD over 4 years. Honestly I haven't had a major mechanical breakdown in any of my bikes or cars in the last 20 years, so now I guess I'm jinxed and will have one next week :)
 
 
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It's a gamble either way, as the miles add up, chances of problems can increase. Depends if you plan to keep the bike for another few years, and if you do decide to sell, with higher mileage, the ext. warranty would give a prospective buyer some peace of mind.
D&H in Cullman, AL will sell an ext. warranty for $389, not bad for 4 years of coverage.
 
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@vinnie - Given the miles you're riding, I would be very tempted to invest the $400 for another four years of coverage. I only put 5,000 miles on my bike in the first year, and elected to not buy the extended YES warranty. At 20K+ miles per year, I would have done it without thinking twice.
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I did 10,000+ between new in July through November, which equates to an average of 2,000 miles a month.  However, I did not get the Sargent until August (or I would have ridden more) and never did more than 550 miles in a day on my FJ-09 last year. And that was putting miles split between two different motorcycles. I intend to do some touring this year and if I average a month what I did last year plus a couple of 2,500 tours, that puts me at about 29,000 miles by next December 1st.
 
I purchased the 48 month YES for $370 plus I enrolled in the "free" Yamalube 10 year - 100,000 oil failure related warranty, so between the two they should keep me out of trouble given I do all my own maintenance and will use the warranties for "catastrophic failures".
 
I don't normally run the Shad SH36 side cases on day trips...
 
My other previously weekend sport tourer who is happy to share the load with the FJ-09...
 
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