porsche extended warranty worth it?
06-02-2014, 11:10 PM
#46
Rennlist Member
Here is the contact information for Rick he is a Porsche dealership (out of state for me) person and has been the most responsive and courteous during my inquire process. Most highly recommended:
rshaw@bakermotorcompany.com
843-852-4030
BAKER MOTOR COMPANY OF CHARLESTON
1511 Savannah Highway, Charleston, SC 29407
(843) 852-4000 / www.bakermotorcompany.com
rshaw@bakermotorcompany.com
843-852-4030
BAKER MOTOR COMPANY OF CHARLESTON
1511 Savannah Highway, Charleston, SC 29407
(843) 852-4000 / www.bakermotorcompany.com
06-08-2014, 08:33 PM
#47
Rennlist Member
I just bought a 2009 997.2 Carr S Cab with 5000 miles. It went out of factory warranty in Feb. Can I buy a decent warranty on this car since the original warranty expired? This is my wife's daily driver and she drives about 6000 mile a year. She doesn't drive the car hard at all. No shifting or changing suspension settings. It seems like you can do a lot of repairs for $3000? My local shop I use is $75 per hr labor rate. I do almost all the work on my 964 myself. I do all the maintanance on my Cayenne. The Cayenne GTS has never had a single issue since I've owned it. I put 20,000 miles on it in the last year. The only thing to ever go wrong on my 964 in 16 years was the AC compressor other then some relays and such. Heck with Rennlist and Pelican, I was able to fix everything accept the AC myself. The 997.2 has had the fuel pump recall replacement done and oxygen sensors. I have to decide if I think this car is going to have a repair needed in excess of $3000 in the next 24000 miles or 4 years? That will only put a total of 30000 miles on the car. Maybe some 997.2 owners can warn me of likely failures on my car. I'm a 20 year Porsche owner and I have never had a repair anywhere near $3000. Comments welcome.
06-12-2014, 09:28 PM
#48
Rennlist Member
Here is the contact information for Rick he is a Porsche dealership (out of state for me) person and has been the most responsive and courteous during my inquire process. Most highly recommended:
rshaw@bakermotorcompany.com
843-852-4030
BAKER MOTOR COMPANY OF CHARLESTON
1511 Savannah Highway, Charleston, SC 29407
(843) 852-4000 / www.bakermotorcompany.com
rshaw@bakermotorcompany.com
843-852-4030
BAKER MOTOR COMPANY OF CHARLESTON
1511 Savannah Highway, Charleston, SC 29407
(843) 852-4000 / www.bakermotorcompany.com
06-13-2014, 09:03 PM
#50
Rennlist Member
Here is the contact information for Rick he is a Porsche dealership (out of state for me) person and has been the most responsive and courteous during my inquire process. Most highly recommended:
rshaw@bakermotorcompany.com
843-852-4030
BAKER MOTOR COMPANY OF CHARLESTON
1511 Savannah Highway, Charleston, SC 29407
(843) 852-4000 / www.bakermotorcompany.com
rshaw@bakermotorcompany.com
843-852-4030
BAKER MOTOR COMPANY OF CHARLESTON
1511 Savannah Highway, Charleston, SC 29407
(843) 852-4000 / www.bakermotorcompany.com
07-26-2014, 09:31 AM
#52
Rennlist Member
Finally closed the deal... Ended up doing 80K miles and 4 years for $3,382. I have just about 40K miles on the clock at this point and this buys piece of mind for the next four years.
07-26-2014, 06:29 PM
#54
Nordschleife Master
amazing info.
I used to work in the extended service contract business. There are a lot of misconceptions here.
These are just insurance products. As such, the issuing companies have stats they use to determine what their average cost will be to fix any make or model. The business model is that they will pay out 100% of premiums received in claims. Read that again, 100%. Their profits come from the income they make while holding that money in between. This is regulated in most states and has to be proven to that state's insurance commission.
The premium paid in most states is actually 50% of the retail cost. Here in Florida, we are a "filed rate" state. The retail customer must be charged the filed rate by law. That rate is 50% premium and 50% profit for the seller (dealer.) it's. 100% markup. Most states follow this model.
So if you paid 2k for your extended service contract, the issuing company got $1000 as the premium, which they are betting they will have to pay out in claims over the life of the contract. The dealer pockets the other $1000 as profit.
In the case of the 997.1, I'd buy the extended service contract. I was quoted $2200 from the Porsche dealer yesterday for 3 years (up to 100k miles) coverage. One claim and it will probably pay for itself. Heck, drive it like you stole it and HOPE the IMS fails.
These are just insurance products. As such, the issuing companies have stats they use to determine what their average cost will be to fix any make or model. The business model is that they will pay out 100% of premiums received in claims. Read that again, 100%. Their profits come from the income they make while holding that money in between. This is regulated in most states and has to be proven to that state's insurance commission.
The premium paid in most states is actually 50% of the retail cost. Here in Florida, we are a "filed rate" state. The retail customer must be charged the filed rate by law. That rate is 50% premium and 50% profit for the seller (dealer.) it's. 100% markup. Most states follow this model.
So if you paid 2k for your extended service contract, the issuing company got $1000 as the premium, which they are betting they will have to pay out in claims over the life of the contract. The dealer pockets the other $1000 as profit.
In the case of the 997.1, I'd buy the extended service contract. I was quoted $2200 from the Porsche dealer yesterday for 3 years (up to 100k miles) coverage. One claim and it will probably pay for itself. Heck, drive it like you stole it and HOPE the IMS fails.
07-27-2014, 03:38 PM
#55
Drifting
I bought a 2007 CPO 997S in November 2013. The Certified Pre Owned warranty covers my car untl Nov 2015 (2 years) or up to 100k miles. Not sure about after market warranties...however I just had the factory audio amp (blown) replaced at my local Porsche dealer and it didn't cost me a cent.
I would definitely recommend buying a Certified Pre Owned car (warranty included in the purchase price).
I would definitely recommend buying a Certified Pre Owned car (warranty included in the purchase price).
07-30-2014, 12:59 PM
#56
Rennlist Member
Hey Guys,
This may be a dumb/obvious question but if I'm buying a car from an Authorized Mercedes Dealer (No Porsche affiliation at all) I can buy an extended warranty through a local Porsche dealership right? and also shop and compare different quotes from the Benz dealership i'm buying it for example, among others correct?
Basically I had an issue a week ago where someone took a car out at a Porsche dealership before me, they left the dealership without any deposit, my salesman took me out, asked him beforehand if it was still available, we loved the car, went back to his desk to fill out the paperwork to buy it right then and there, and the other salesman helping the people before us that left said sorry guys, the people that saw it before just called while you were out on the test drive and put a deposit down, so its there's...
SO, I think I may be able to get a good deal out of my salesman because he and the sales manager felt awful...started throwing several thousand dollars off other cars, maybe they'd be able to give me a good extended warranty on an 06 C2 w/ 28k miles
This may be a dumb/obvious question but if I'm buying a car from an Authorized Mercedes Dealer (No Porsche affiliation at all) I can buy an extended warranty through a local Porsche dealership right? and also shop and compare different quotes from the Benz dealership i'm buying it for example, among others correct?
Basically I had an issue a week ago where someone took a car out at a Porsche dealership before me, they left the dealership without any deposit, my salesman took me out, asked him beforehand if it was still available, we loved the car, went back to his desk to fill out the paperwork to buy it right then and there, and the other salesman helping the people before us that left said sorry guys, the people that saw it before just called while you were out on the test drive and put a deposit down, so its there's...
SO, I think I may be able to get a good deal out of my salesman because he and the sales manager felt awful...started throwing several thousand dollars off other cars, maybe they'd be able to give me a good extended warranty on an 06 C2 w/ 28k miles
07-30-2014, 03:56 PM
#57
Only the original owner of the Porsche is able to buy the 2 yr extended warranty that's over and above the 4 yr oem warranty prior to oem warranty expiring. But if you buy a certified used Porsche car from a Porsche dealer it should come with a 2 yr warranty.
If you buy a Porsche car from Merx dealer you will not be able to get a PORSCHE WARRANTY from Porsche dealer, only an aftermarket warranty that the Merx dealer may offer when you are buying the car
If you buy a Porsche car from Merx dealer you will not be able to get a PORSCHE WARRANTY from Porsche dealer, only an aftermarket warranty that the Merx dealer may offer when you are buying the car
07-30-2014, 04:00 PM
#58
Rennlist Member
Only the original owner of the Porsche is able to buy the 2 yr extended warranty that's over and above the 4 yr oem warranty prior to oem warranty expiring. But if you buy a certified used Porsche car from a Porsche dealer it should come with a 2 yr warranty.
If you buy a Porsche car from Merx dealer you will not be able to get a PORSCHE WARRANTY from Porsche dealer, only an aftermarket warranty that the Merx dealer may offer when you are buying the car
If you buy a Porsche car from Merx dealer you will not be able to get a PORSCHE WARRANTY from Porsche dealer, only an aftermarket warranty that the Merx dealer may offer when you are buying the car
07-30-2014, 07:34 PM
#60
it's insane the price these guys are asking for FWS. luckily the guy i know is willing to hook me up $5600 for 6 years $100 deductible. i called some of the guys listed in this thread and they told me $9200. that's insane markup.