A couple of weeks ago we published an article with an analysis of the best alternatives to Toyota's Extended Warranty Costs in Canada. Lots of people liked it, so here we are now doing the same with Honda Canada numbers.
Overall Comparison with Toyota's
On average, most numbers are very similar to the ones from Toyota, but there are some small differences:
- Honda has only two default options for the 36m-60m leasing period. Toyota has multiple alternatives, although these may vary as dealerships have options to enable so.
- Honda prices are about 5% - 25% less than Toyota's. This can be understood in two ways: either Honda reliability is expected to be more robust, and vehicles require fewer repairs OR the higher Honda's sales volume is enough to fill the gap.
- Honda has an 8 years/200,000km option that is about 1,600CAD cheaper than the longest from Toyota (7 years/200,000km). If you plan to have a vehicle for a really long time and still haven't decided, this is a very solid game changer.
The Honda Canada Table
So, for the following data, we used the build estimator for a 2018 Honda Civic Hatchback Touring. Feel free to compare the numbers with Toyota's and come up with your own conclusions:
| Coverage (months/ kilometers) | Honda Plus Extended Warranty (Canadian Dollars) | Ideal For: |
|---|---|---|
| 36 months /60,000 km | 0 | Default New Vehicle Warranty |
| 48 months /100,000 km | 748 | |
| 60 months /100,000 km | 1,138 | 5 years Car Leasing Extended Warranty (+ Honda Lease Guard $795) |
| 60 months /120,000 km | 1,178 | |
| 72 months /100,000 km | 1,398 | |
| 72 months /160,000 km | 1,888 | 6 years Financing Extended Warranty |
| 84 months /130,000 km | 1,828 | |
| 84 months /160,000 km | 2,148 | |
| 84 months /200,000 km | 2,578 | 7 years Financing Extended Warranty |
| 90 months /200,000 km | 2,968 | If you plan to keep the vehicle for eight years, this is what I would put as a downpayment. |
