My warranty is expiring 3/12 and received an offer from Mercury to purchase the Platinum Plan. 1 year around 700.00, 2 years around 1000. Up to 5 years with $300.00 increase per year. I have a 90 h.p. Lund tiller with only 22 hours and there was an issue last fall that required an expensive repair that was warranted by Mercury. So I am considering taking the warranty out for two reasons. One is I’m covered if something goes wrong and two is resale value. I know the warranty doesn’t make the boat worth more but would give potential buyer peace of mind. I bought this boat last summer from an individual who didn’t use it much. I am considering selling it because it didn’t work out as well as I thought for the type of fishing I do.
I would like to hear opinions if this is a good direction to go.
Posted 3/5/2018 12:29 PM (#895066 - in reply to #895027) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Posts: 91
It’s a four stroke. The powerhead was replaced last fall and it was even questionable if it should be replaced by Mercury. All the engine did was make a slight tapping noise. The boat is very low hours and in excellent condition but obviously concerned the powerhead replacement can hurt the value but if it’s warranted it may ease concerns. My plan is to sell sometime this spring and look to purchase something more suitable for my needs.
Posted 3/5/2018 12:44 PM (#895068 - in reply to #895027) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Posts: 3480
Location: Elk River, Minnesota
hiya,
If the warranty is transferrable, I'd say it would be peace of mind for the buyer. It would most likely help the sale of the boat knowing it carries a warranty that they can use if need be. I don't know anything about merc's platinum but if it is found to be transferrable, I think you might feel a little more comfortable about the sale as well.
Posted 3/5/2018 1:12 PM (#895072 - in reply to #895068) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Location: Contrarian Island
minimum investment is 700 if you plan to sell not sure you're going to get a return on your investment ?! maybe... didn't they give you 1 more year on the new powerhead anyway...
Posted 3/5/2018 1:26 PM (#895073 - in reply to #895027) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Posts: 91
Not looking for a return on the warranty investment but to offer peace of mind to a potential buyer. They do offer an additional year on the powerhead from installation but was told the warranty wasn’t transferable. I will call Mercury to verify this again.
Posted 3/10/2018 3:34 PM (#895852 - in reply to #895027) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Posts: 427
My Merc dealer said it's not worth the money. According to him less than 1% of engines ever use it and Merc replaced both fuel pumps last season under warrenty on my motor. I going to roll the dice and pass on it myself. Dealer said if Merc ever repaired enough motors under the extended warranty they wouldn't offer it if it lost money. According to him most problems show up in the first two seasons. Good Luck.
Posted 3/11/2018 11:56 AM (#896020 - in reply to #895953) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Posts: 427
sworrall - 3/10/2018 9:05 PM
Your Merc dealer wants to repair your engine...out of warranty. Looks like he just might get that opportunity.....
I strongly disagree. Extended warranty is strictly a way for ANY manufactuer to increase revenue. Do you really believe that any company would offer the promotion if they actually thought it would need to be honored. Manufactures spend countless hours and money testing the reliability of the product. The research that's been done shows that this "offer" is rarely used because the probability of the product failing is low during the warranty period. You would be better off putting that extra money away to pay for repairs after any warranty expires. No manufacturer will offer a program that is not profitable for them. My best simple argument is this with out going into detail; Some of the most profitable box stores in the U S A will ask if you want extended warranty on many products at the check out! Do you think this is for the consumers bottom line or theirs?. Manufactures KNOW what the expected life of any product is before it enters the market place. it's known as planned obsolescence in the industry. Choices exist and every one makes them. We just hope they were the correct ones. Your money your choice. Just my 2 cents
Posted 3/11/2018 2:22 PM (#896073 - in reply to #895027) Subject: Re: Considering Mercury Platinum Protection. Worth it?
Posts: 91
I never purchase extended warranties on anything but in this case I consider the extended Platinum warranty a wise choice since the powerhead was replaced with only 21 hours on the engine. This will give me peace of mind if any further issues arrive and to any potential buyer since my warranty runs out tomorrow.
Considering Mercury Platinum Protection. Worth it?