mccoy08

I just purchased an '06 Cayman S with 9300 miles. No CPO but I could have bought it for $2500. I declined because I felt I could always add the extended warranty for a similar price. The prices they gave for an extended warranty range from low 2k to upper 2k. That's for 60k miles and 5 - 7 years.

This may be a stupid question, but do you think it's worth it to buy the extended warranty? In my mind, it comes down to whether the warranty will cover the types of things that are likely to go wrong between now and 70k miles. There is also a $250 deductible which isn't much in the grand scheme of things.

Thoughts?

Macster

Tough call. Car is low miles and has not been driven enough to possibly bring out any inherent problems. However, there may not be any.

Depends upon your situation and how you would be able to deal with a serious but out of warranty problem.

Consider what would have to be the worse case, total engine failure due to IMS failure.

You are looking at, should this occur, a pretty large repair bill. By some estimates you would not see much change from $15K were you to have a new engine installed by a dealer. There are cheaper solutions but they have their own risks that can make them rather expensive solutions.

Now if a $15K repair bill would be a disaster for you (and it would be for many of us) spending $2K up front to eliminate this risk (low but not zero unfortunately) may be a good way to go.

But you have to have 100% confidence in the company offering the extended warranty (service) contract and you have to know it would pay for the the engine or for any serious repair should it be required.

And you have to know what you have to do to ensure coverage remains in effect. What serivcing, inspections, etc are required. You must get and read the fine print contract before buying the policy and you must do as much research as you can to know if the company offering the coverage is reputable.

OTOH, if you drive few miles and the extended warranty would expire on time and not miles then the chances of something serious happening are reduced simply cause problems arise from miles driven not time car spends sitting in a garage or on a driveway unused.

The extended warranty/service contract would be a waste of money.

As I said, tough call.

Now I continue to drive my 02 Boxster without no warranty and have done so for over 170K miles after factory warranty expired -- car currently has over 227K miles on it -- and while there have been some problems (mostly AOSs, two) there have been no serious problems.

I recently bought an 03 Turbo with 9500 miles but it came with a the "new" CPO warranty which runs until June 2011 and for 100K miles.

While I believe -- based on my research -- the Turbo engine a real reliable powerplant I wanted some warranty in place just in case. I have put over 15K miles on the car since buying it in June of 09 and there have been no problems at all with the car or the engine.

But I continue to drive my 02 Boxster with no warranty other than my bank balance. And if I keep the Turbo at some point it will be out of warranty and I'll "self insure" it against any serious engine or car troubles.

Added: If the CPO warranty $2500 and is the "new" and improved one (which word is covers as well as the new car factory warranty) and runs for 8 years and 100K miles and is transferrable should you sell or trade in the car, the CPO warranty might be a smart move. I'd advise you to check on how long the CPO covers the car - when the mileage and time coverage begin (they usually start at the miles the car had when sold as new and when the car first sold) -- and consider buying a CPO warranty. While I am not a big fan of aftermarket warranties/extended service contracts a CPO warranty does take some risk out of having a warranty and out of owning a car so covered by the CPO warranty.

Still it is a tough call.

Sincerely,

Macster.

Bob Rouleau

Congratulations the Cayman S is an outstanding car - best handling of anything in the Porsche line-up.

Irrespective of what you paid, you have a expensive car. It does not take much to run up $2,500 in repairs. I'd buy the warranty for peace of mind. You got a great car for way less than a new one and now you can buy a warranty close to a new car ... I'd do it in a heartbeat.

Best,

mccoy08

Thanks for the replies. Yes, it seems to make sense to go ahead and get the warranty since repairs can be high and peace of mind is important. I have to say, I haven't had the chance to drive the car a lot yet (just got it last night and it's raining for the next several days) but it feels like a life changing experience. I've always wanted a Porsche. I'm in ecstasy! I'm assuming that's common.

Macster

Life changing I don't know, but I was in 7th heaven after getting my 1st, an 02 Boxster. Drove the wheels off it. Still drive the wheels off it. Best car I ever owned.

Up to you but my Porsches drive well rain or shine. 'course you have to watch out for the idiots but Porsches do not melt in the rain.

Had my Turbo out today in the rain. The Turbo may prove to be even better than the Boxster!

(I owned an 08 CS for just 3+ weeks and the short time -- time cut short when another car ran light and smashed into my car and destroyed it -- I spent with the car I loved every second.)

Sincerely,

Macster.

mccoy08

Yeah, "life changing" may have been a little overstated but c'mon, when you dream of a Porsche all of your life and you finally get one, it's pretty darn exciting.

I plan to drive the car a lot in the rain. It will be my daily driver. I don't have to worry about snow in the Sacto area. I just won't go out of my way for road trips and excursions while a series of storms pound NoCal over the next week.

EBacon

Yay for Caymans! I just put new wheels & tires on my very-recently-acquired 2006 Cayman S and I'm in driving heaven.... And yes, I bought the extended warranty myself!