Bought a 4707... extended warranty?

[Fishwiz]

I bought (handshake) a 4707 today, and I'm going to be at the dealer tomorrow morning to finalize all the paperwork. Great dealer, and I trust them more than most salesman I've worked with.

That said, they're offering extended warranty (2 year everything, 3 year powertrain is standard) and I'm not sure if it's a good deal. Plus it's somewhat convoluted. I'm typically not a guy that goes for extra coverage, but this is a much more advanced/technical tractor than I've had in the past... not sure how to gauge the likelihood of expensive warranty claims.

The offer for additional warranty that nearly matches the original full warranty in coverage:
*1 extra year for $1825
*2 extra years for $2864
*3 extra years for $4523.

All of the above are limited at 2000 hours, and include a $250 deductable for each claim. The warranty prices can be adjusted by selecting a $0 or $500 deductible. I expect to put around 300 hours per year, so I'm not too concerned about hour limits.

All of the above prices include a $2000 credit that Massey is providing... but I'm not sure if the warranty prices are inflated to account for the discount, or if these are worth buying.

Opinions or experience?

 

[4570Man]

I never buy extended warranties. The odds are against you otherwise the manufacturer wouldn’t do it. If I was convinced enough that it was going to break to pay out $2k on a protection plan I’d buy something else.

 

[Torvy]

Lots of analysis done to back up @4570Man point. Extended warranty is almost never good for the consumer.

 

[Have tractor did travel]

For most all of my purchases, the o-n-l-y suggestive selling is the extended warranty. From ConsumerAffairs.com "A business professor at Penn State University says the typical profit margin on these products (electronics and appliances) is 15% to 20% but businesses realize a more than 200% profit on the extended warranty. Aside from the aforementioned, financially, an owner should self insure those items for which he could stand the loss, and insure those items for which he could not stand the loss. That's why most new cars are collision insured for 3-4 years, then liability only thereafter.

 

[TractorTYMe]

My TYM came with 2 year end to end (bumper to bumper if tractors had'em) warranty, and 6 year powertrain or 3000h whichever came 1st. So far I'm at 421h, got long way to go.

 

[Wobblin-Goblin]

I'm at two years and 140 hours on my 2021 4707. Had a few nagging things that had to be addressed by the dealer early on, but it's been great since.

 

[Mike rich]

I'm at two years and 140 hours on my 2021 4707. Had a few nagging things that had to be addressed by the dealer early on, but it's been great since.

 

[Mike rich]

I have the same tractor,what were the nagging things u had?

 

[Mike rich]

I have the same tractor,what were the nagging things

 

[CloverKnollFarms]

Seems costly for a new tractor