Extended Warranty...Is it worth it?
#1
Extended Warranty...Is it worth it?
The dealer wants me to buy an extended warranty, for the 718, which supposedly covers bumper to bumper, out to 10 years. Cost is $3500. Mind you, My Z4 had 36,000 miles on it and it was 12 years old, bought new, so I'm a "fair weather only" driver. Do you think I will need $4000 in repairs if the car has less than 40K on it by the end of 10 years? I have two weeks to decide.
#3
Addict
Rennlist Member
Rennlist Member
That's a tough decision. It seems over the past 15 years Porsche reliability has been hit or miss so depending on how this new engine performs as far as reliability it may or may not be a good purchase.
I can state that on my 987.2 I have only had one warranty issue (bad headlight housing) which occurred 6 months after purchase. Otherwise, knock on wood, the car has been dead reliable in the 6 years 14k miles I have owned it.
I can state that on my 987.2 I have only had one warranty issue (bad headlight housing) which occurred 6 months after purchase. Otherwise, knock on wood, the car has been dead reliable in the 6 years 14k miles I have owned it.
#5
Rennlist Member
Hmm. Tough call. I passed on the extended warranty earlier this year. However, this is a brand new engine with a turbo.. no one knows yet how it will last. $300 / year over 10 years seems like a small price for piece of mind if it's a Porsche warranty.
#7
Rennlist Member
I've had extended warranties on other brands and they all paid for themselves in the long run.
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#8
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There are several aftermarket extended warranty programs out there and terms do vary. If you decide it's for you, negotiate on the price of the warranty and don't assume you have to pay the price you've been quoted by the dealer. Everything is negotiable.
Because you've got the factory warranty for the first several years of ownership, decide if it makes sense to pay for an extended warranty this early in your ownership. If something goes wrong with your car, it will most likely happen years from now -- so does it make sense when you are covered under the factory warranty to be paying for extended coverage now? Won't an extended warranty be available for you to purchase at the end of your factory warranty? Might that not be a better time to buy it? Ask all these questions and get answers.
#9
The $3500 was already a negotiated rate...full price was almost $5K That's why he only gave me two weeks. I can always add it in 4 years
and probably negotiate it then too!!
#10
Rennlist Member
At $3500 its worth it..
life has a way of surprising us, things may change, you may sell the car in 5 years. At that point, having such an extensive coverage may help in selling your car very quickly, and for a premium price
life has a way of surprising us, things may change, you may sell the car in 5 years. At that point, having such an extensive coverage may help in selling your car very quickly, and for a premium price
#11
Rennlist Member
It's a very good price for a warranty that long. The question is whether or not it's a good warranty. I doubt it's a Porsche warranty, so check it out a bit more closely, and report back to the forum on the brand and the details for further feedback.
One thing to do is to call a couple of other Porsche dealer service departments and ask them about the warranty. Do they accept it just like a Porsche policy? Do they have a history of being easy to work with? Or does the dealer require prepayment, and then reimburse you?
One thing to do is to call a couple of other Porsche dealer service departments and ask them about the warranty. Do they accept it just like a Porsche policy? Do they have a history of being easy to work with? Or does the dealer require prepayment, and then reimburse you?
#12
I wouldn't do it. I have yet to buy a new car where I needed an extended warranty. If it's a used car then it's an entirely different matter. My brother loves Range Rovers but he absolutely refuses to buy them new and also without an extended warranty if it's used. He's already more than made up what he paid for his bumper to bumper warranty. But it's a Range Rover. I think fair weather drivers should be fine without extended warranty.
#13
Burning Brakes
In Canada, we have porsche canada extended warranty 6 year total or 160 000 kms valid in canada and usa.
Price is 3 300 Can $ tax in. It is like CPO it at the beginning!
You can add it later but you need to pay for an inspection and price is higher.
I took it with no hesitation because i will keep the car long enough and it will help with the resale i am sure if needed.
I learned with my last car ( cooling pipes and rms....)
my 2 cents !
Price is 3 300 Can $ tax in. It is like CPO it at the beginning!
You can add it later but you need to pay for an inspection and price is higher.
I took it with no hesitation because i will keep the car long enough and it will help with the resale i am sure if needed.
I learned with my last car ( cooling pipes and rms....)
my 2 cents !
#14
Three Wheelin'
If you're a belt and suspenders type of guy, go for it. Otherwise, probably not worth it. Consider two things: 1) new car warranty is four years and 2) $3.5k will cover quite a lot of repair work.
When I bought my CGTS the sales guy offered an extended warranty and I'm pretty sure it was not from Porsche. Also, before buying any warranty, make sure you get a copy of the full warranty and read it very carefully!
When I bought my CGTS the sales guy offered an extended warranty and I'm pretty sure it was not from Porsche. Also, before buying any warranty, make sure you get a copy of the full warranty and read it very carefully!
#15
Lucky...wish that was a thing in US. If it is i have not heard of it.