seemyad

So I will be taking delivery of a 2011 Cayman with 44k miles from Carmax tonight.

At time of purchase I have to decide to purchase their warranty or not.

The warranty lasts for five years and is suppose to cover all repairs when something fails (not regular maintenance or neglect). Additionally, I can take the car to a different shop and they will pay for the work.

These are all the details I have been told and do not have any paperwork until I go to Carmax tonight.

I will already be out of pocket $4000 (financing the rest at an incredible rate).

Should I spend an additional $2250 or let that money sit in my investments earning money and deal with issues as they occur (if they occur) on my own dime?

Please note I won't be driving it more than approx 4k- 6k miles per year because this will be my secondary car, not my primary daily driver.

Thank you.



About the car -

Sticker Price: $29,900 (no negotiation with Carmax)
Year: 2011
Model: Cayman (base)
Miles: 44k

Features:
Black/Black (color)
Premium 18 inch Cayman S wheels
Bose Audio
Sport Chrono Package Plus
PDK
etc.

Marine Blue

Did they fix the water pump?

Personally for $2250 I would go for it, especially if the water pump hasn't been replaced.

seemyad

No. The did a full brake job and wheel alignment, because I also mentioned the brake was spongy and the car seems to drift slightly to the left.

They said the alignment was just off enough to cause a slight drift and was amazed I even noticed.

As for the squeak. They said they inspected the pulleys, water pump, etc without issue (friction, grabbing, etc).

They also claim the sound can no longer be reproduced.

Let me add the car was on a shipping truck for a few weeks before I test drove it.

I am taking it in for a PPI after purchase and can get a 100% refund (except shipping) within 5 business days of purchase.

So you think the warranty is worth it? Thank you for that input. Although I can afford it, dishing out money before I own the vehicle is starting to get old. That said, if it saves me $3000 in repair costs then I feel it was worth it

Please note I won't be driving it more than approx 4k- 6k miles per year because this will be my secondary car, not my primary daily driver. (I will add this to the op).

Your advice is well received and I thank you for it.

terbiumactivated

If you have the discipline to keep the money invested and accessible, I'd do that. Drive the car and enjoy it. Sometimes this board goes off the deep end treating these vehicles like they all have M96 engines. As for the water pumps, I understand fully the issues with plastic impellers and the potential for pieces to break and block flow in the heads but I sincerely doubt that is common. For god's sake my friend's Ford has 130k on it with the OEM pump, if Porsche hasn't engineered that pump to go to at least 80K why the hell are we buying Porsche cars? Sometimes the board expectation is that a used car is supposed to be exactly as it was new, right down to seat stitching, it's just not realistic. Maintenance records and good stewardship of the cars is awesome. Doing what some of us do and not letting them see rain, never parking in a lot to avoid door dings and essentially looking at them in our garage museums can become a sickness, OK rant over. The next guy to get mine is going to be laughing at me like someone who buys a couch that was covered completely in plastic. With the mileage you plan on a warranty is a waste, keep your money, use it if you need it for a repair, enjoy your car, drive it and smile.

daylorb

I think the carmax warranty is by far the best deal going. Better than the Fidelity warranty by far. I have one on my M3 - it is administered by the local BMW dealer - and it covers everything.

My own personal opinion is that you can't go wrong with it and the price is insanely low based on how they pool their vehicles.

That said - I'm on my third Porsche and they have all been crazy reliable. I had warranties on 2 of them, never used them once dating back to a 2004 Cayenne. For that price though, hard to beat peace-of-mind.

RWPinNC

I agree. Decided not to purchase a car that I was. considering but would have bought the warranty.

Marine Blue

Can't you add the warranty within a short window of time? If yes then get the PPI and then decide.

For reference the Water Pump is a known weak spot on the 987, it's not a big deal but it seems to be a common failure point for cars with higher miles.

billwot

IMO, extended warranties are a rip off. FYI from my personal experience:

For many years, we have always owned 3 vehicles, a family sedan, (2014 Camry), a small pickup (2011 Tacoma) and a toy (2011 Cayman) We collectively drive about 45K miles a year, and generally keep vehicles 7-8 years and 110-120K miles.

I have not spent $2250 for repairs combined on all my vehicles in the past 20 years! In fact, I probably haven't spent even $1000 in the last 20 years. That would probably cover 8-10 different vehicles and close to a million miles. And no, I don't do my own repairs!

billwot

Everybody has their own priorities, but that's a lot of money for "peace of mind". Per my post above, if I had bought a warranty for every car I owned in the last
20 years, I would have spent maybe $20,000 for warranties, and gotten less than $1000 in covered repairs.

Marine Blue

I would have agreed with you completely up until about three weeks ago. My 2015 CPO Volvo with 80k miles (yes I drive it a lot) burnt an exhaust valve and needed a new block, cylinder, valves and an assortment of other parts, basically a new engine which was covered under the warranty. I know I paid $2k more to get the car with CPO and looking back I'm glad I did. I know it's not the norm but when you're buying a used car and you don't know all the history it's a bit of a gamble.

seemyad

I took possession of the vehicle not long ago ago. I am beyond pleased with the purchase (thus far).

I have a PPI scheduled for Tuesday.

After reviewing the many insightful replies to this thread I passed on the warranty.

The main reasons I passed (including the replies here) are:

• This vehicle only has 44k miles
• I am beyond **** about preventive and scheduled maintenance
• I don't know how long I will keep the car
• This is not my primary vehicle, so I will not be pressured to fix anything until I am ready to
• I am often overly cautious so I deserve to role the dice every blue moon

That said, EVERY response has been greatly appreciated!

Thank you all very much for responding.

daylorb

Certainly cost-benefit ratio on these. I did not have a warranty on a 545 that I owned, and at 41K miles the oil seals and mechatronix tranny went - $8500 repair. Ouch.

I did actually have two very minor warranty repairs on my RS60, however they totalled less than $500 - basically they repalced all the window/door seals on the car, and a piece of dashboard trim.

And I did not buy one for my current Spyder, or my Cayenne - because the only one I would buy is Carmax. IMHO I think it is the only one I would truly trust from a cost-benefit standpoint.

billwot

But at 41K, it would have been covered under the original mfgr's warranty...no aftermarket warranty required.

Is it possible to have a major repair after the factory warrany expires? Sure. But is it probable? Nope. Almost all modern cars will last as much as 250K miles and never experience a major failure.

PRNDL

In May, I purchased a 2013 BoxsterS from Carmax, 28K miles, PDK, Sport Chrono, Sportdesign wheel, PASM, fancy-pants seats, etc, etc. Paid $48K. As the car was just out of factory warranty, I elected to purchase the 5 year/100K mile service contract w/$150 deductible for $3369. My plan is to drive the car *A LOT* and keep the car for at least 5 years, maybe more. I'm satisfied with the value of the service contract considering how I will be using the car and the cost of any major repair to the engine, transmission, PCM, or top. My calculations put the price of the total package slightly below what Porsche would have charged for a similar car through their CPO program. Because of the CarMax return policy, I was able to have the car PPI'd for piece of mind to confirm the deal. My research indicated to me that CarMax slightly undervalues Porsche options. Loaded up cars are, relatively, less expensive than base ones. I am very satisfied with both the CarMax buying experience and the value of the service contract.

Dalema

Also, I believe that you have a standard warranty that comes with it from CM - 6 months?

I bought a 2011 Cayenne Turbo from CM a year or so ago. During that time i had them fix a lot of items on the car - they were VERY accommodating.

I did buy the extended warranty - mainly in the event of a catastrophic event. I just recently used it for a couple of items - TPMS sensor failed and a door handle for the remote entry. All taken care of at the Porsche dealership - pain free process and fully covered. Reminded me just how expensive Porsches are (especially when using a dealer).

As you do the PPI - go over the car with a fine tooth comb yourself and note everything you would want them to fix. Give them the list quickly if you haven't already. They took care of me - couldn't be happier!

Enjoy the car!