The Fidelity Platinum Megathread
10-12-2022, 02:39 PM
#541
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@SteingoldVolvoCars @Highline-Autos.com
quick question:
what if a car has had an engine tune (ie increased boost) by a prior owner that is not known to the new buyer? do you require some kind of inspection prior to issuing a policy (or is it just up to the buyer to do their due diligence)? if a engine claim is made and it’s discovered that tuning had been done in the past (prior to current policy holders ownership), does that still void a claim?
quick question:
what if a car has had an engine tune (ie increased boost) by a prior owner that is not known to the new buyer? do you require some kind of inspection prior to issuing a policy (or is it just up to the buyer to do their due diligence)? if a engine claim is made and it’s discovered that tuning had been done in the past (prior to current policy holders ownership), does that still void a claim?
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Highline Autos Magazine - Volume XXI, Issue 03 https://bit.ly/3wTsNzM
Your place for distinguished automobiles, proud provider of Fidelity & Freedom Warranty extended warranties. Visit us at Highline-Autos.com
Official RECARO Automotive Retailer: www.highline-autos.com/product-category/recaro/
Highline Autos Magazine - Volume XXI, Issue 03 https://bit.ly/3wTsNzM
10-12-2022, 04:04 PM
#542
For anyone curious about buying a warranty from one of the rennlist vendors.
I recently bought my extended warranty for my Audi Q7 from Trent at highline.
Best price and easy to work with.
Just don't forget you bought the warranty and accidently call the CC company and dispute the charge! (sorry about that trent!)
I recently bought my extended warranty for my Audi Q7 from Trent at highline.
Best price and easy to work with.
Just don't forget you bought the warranty and accidently call the CC company and dispute the charge! (sorry about that trent!)
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Highline-Autos.com (10-12-2022)
10-12-2022, 05:07 PM
#544
Intermediate
chalk up another W for Fidelity platinum warranty.
They ended up covering my faulty o2 sensors and the setting of my EGR / VVT at porsche which i thought would cost me $350-700 out of pocket.
They ended up covering my faulty o2 sensors and the setting of my EGR / VVT at porsche which i thought would cost me $350-700 out of pocket.
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Highline-Autos.com (10-12-2022)
10-28-2022, 01:33 PM
#546
For all those who have purchase the Fidelity Plan or looked into it, particularly for a car still under warranty or CPO for a decent while longer, how did you decide whether or not the effective monthly cost of the Plan after the warranty/CPO ended was justified? $75/month worth it? $100/month worth it? $300/month? Also, did you calculate how the Plan overall could cost more if purchased later at higher miles, but could actually cost you less per month for "effective" usage after warranty/CPO ended to figure out if and when to buy it? Did you consider how short the plan turned into with a vehicle drive more than 10k miles per year and how that drives up the effective post warranty/CPO cost per month?
Sorry for the long post, but thought it might be helpful for people considering the Plan to pass along some of my thinking and calculations as well as to peace comments and thinking from the group generally. Some background....
I purchased a 10yr/100k plan for my 2017 911 Turbo S convertible last year even though my car was under CPO coverage for another two years because it only cost me $4400 for an "extra" 99 months of coverage ($44/ month) - I won't drive it more than 3-5k miles per year and so the time component was the key - I figured $44/month for coverage on a vehicle particularly in years 10-14 after in service seemed very reasonable if not cheap. One or two major items go wrong over 10yrs, or just some bad luck, and it pays for itself (good comfort also that the mechanics of the convertible top are covered since that would be an expensive repair too). Great peace of mind given the cost of the car and good "insurance" clearly for the 911 at $44/month.
As a result of the plan being such a great thing for my 911, and given that we tend to want to keep our cars for quite a few years, I looked into adding it on to our '20 Audi and '19 Cayenne as well. But, both had longer left under the warranty/CPO than the 911 (32 months for the Audi and 27 months for the Cayenne as opposed to 21 months for the 911) and both are drive 3-4x the miles per year as the 911, which as I realized changed the whole calculation.
For the Audi (buying a 84mo/70k/$199 deduct plan after 10k miles and before 25k miles, with CPO expiring 6/2025), I determined, based on variability of mileage in the out years when my son has it at school that it could cost me between $65-150+/month. If the miles stay under the 70k and we get the 84 months, then it is $65/month for the 52 months after the warranty/CPO ends. This would require a decrease in average miles per month driven from 950 to 833, but may be possible because my son will have the car at college for 4 of the years and won't be driving it nearly as much. But if the miles per month stay the same (about 950 miles), then it potentially means the Fidelity Plan ends 41-42 months after the end of the warranty/CPO and so the cost goes up from $65/month to $82/month and if the miles go up, then it becomes more much expensive. I still thinks it probably makes sense even at $82/month. Still not that high a mileage car and so likely still a good value for both coverage and insurance against big issues. Also, peace of mind to keep the car longer with less risk and keeping the car over getting a new/newer car saves the greater depreciation and other costs of new/newer which likely is greater than $82/month.
For the Cayenne (with CPO expiring 1/2025), which we drive 16-18k miles per year so much higher use than the 911 or Audi, I ran similar calculations based on current mileage use for the last 18 months we have owned the car and came up with the following based on what I can buy now (at 44k miles with 72/72k plan), what I could have bought 18 months ago if car was under 10k when new (84/70k), what it would have cost if bought it under 25k miles when it would have been just under (84/70k) and what it would cost now if 58k miles (60/60k)(assuming price doesn't go up next year of course which it could). What I figured out was the following:
Under 10k miles if we could have when we bought it - coverage until 7/2025 at effective cost of $544/month after CPO ends (40 cents per mile)
Just under 25k which we could have done last year - coverage until 7/2026 at effective cost of $276/month after CPO ends (20 cents per mile)
Just under 45k which is what we could do now - coverage until 2/2027 at effective cost of $320/month after CPO ends (24 cents per mile)
Just under 60k which is what we could do next year (but this uses costs/coverage quoted now) - coverage until 7/2027 at effective cost of $296/month (22 cents per mile) (would be the same $320 a month if the overall plan cost for next year increases by $720 year over year)
Clearly on a higher usage vehicle, particularly with meaningful CPO coverage left, it gets much much more expensive. So, buying it right away didn't make sense and cheapest option was right before hitting 25k miles but still $276/month. I'm not sure doing it now makes sense because waiting seems to provide longer coverage for less (or perhaps the same if plan cost goes up a lot). But, it still leaves me wondering whether it makes sense to pay $276/month for coverage on a 2019 Cayenne to cover miles 80,000-112,000. We sold our 2013 Cayenne in March 2021 when we got this one and it had about 130k miles on it and we had to spend on average about $100/month on repairs that would have been covered by a fidelity plan between the end of the CPO and when we sold it (no major issues luckily). Based on the $276-320 per month for coverage and our experience with our 2013 at $100 per month, it is hard to justify buying the plan at any time....unless we factor in the "insurance" against big issues component or unless our experience of about $100 per month is much lower than usual for an older Cayenne. If we were much lower mileage so length of plan is fully used the cost makes more sense - $88 for under 10k miles when just bought and $101 for under 25k.
Based on the above, I am very curious to know people's thoughts on what costs are worth it generally and for the Cayenne specifically (if anyone has specific thoughts) and what the peace of mind for "insurance" is worth to everyone.
Also, I generally have thought about it as cost per month rather than cost per mile - with cars like these is (based on our maintenance/cost experience with our last 2 sports car convertibles with long duration and low miles (Mercedes and Lexus) and our last 2 Cayennes with high miles (over 100,000) but shorter time periods than sports cars), I've always rightly or wrongly thought that while potential issues increase with more miles driven, it is not linear and is more of a combination of age/combined with the miles, with the out periods of time more risky regardless of the miles. How do people around here think about costs of the plans - per mile or per month of effective coverage? For all those who think about it as per mile, what cost per mile makes it worthwhile? 8-10 cents/mi? 15-20 cents/mi? 25 cents/mi?
Appreciate everyone's input.
Sorry for the long post, but thought it might be helpful for people considering the Plan to pass along some of my thinking and calculations as well as to peace comments and thinking from the group generally. Some background....
I purchased a 10yr/100k plan for my 2017 911 Turbo S convertible last year even though my car was under CPO coverage for another two years because it only cost me $4400 for an "extra" 99 months of coverage ($44/ month) - I won't drive it more than 3-5k miles per year and so the time component was the key - I figured $44/month for coverage on a vehicle particularly in years 10-14 after in service seemed very reasonable if not cheap. One or two major items go wrong over 10yrs, or just some bad luck, and it pays for itself (good comfort also that the mechanics of the convertible top are covered since that would be an expensive repair too). Great peace of mind given the cost of the car and good "insurance" clearly for the 911 at $44/month.
As a result of the plan being such a great thing for my 911, and given that we tend to want to keep our cars for quite a few years, I looked into adding it on to our '20 Audi and '19 Cayenne as well. But, both had longer left under the warranty/CPO than the 911 (32 months for the Audi and 27 months for the Cayenne as opposed to 21 months for the 911) and both are drive 3-4x the miles per year as the 911, which as I realized changed the whole calculation.
For the Audi (buying a 84mo/70k/$199 deduct plan after 10k miles and before 25k miles, with CPO expiring 6/2025), I determined, based on variability of mileage in the out years when my son has it at school that it could cost me between $65-150+/month. If the miles stay under the 70k and we get the 84 months, then it is $65/month for the 52 months after the warranty/CPO ends. This would require a decrease in average miles per month driven from 950 to 833, but may be possible because my son will have the car at college for 4 of the years and won't be driving it nearly as much. But if the miles per month stay the same (about 950 miles), then it potentially means the Fidelity Plan ends 41-42 months after the end of the warranty/CPO and so the cost goes up from $65/month to $82/month and if the miles go up, then it becomes more much expensive. I still thinks it probably makes sense even at $82/month. Still not that high a mileage car and so likely still a good value for both coverage and insurance against big issues. Also, peace of mind to keep the car longer with less risk and keeping the car over getting a new/newer car saves the greater depreciation and other costs of new/newer which likely is greater than $82/month.
For the Cayenne (with CPO expiring 1/2025), which we drive 16-18k miles per year so much higher use than the 911 or Audi, I ran similar calculations based on current mileage use for the last 18 months we have owned the car and came up with the following based on what I can buy now (at 44k miles with 72/72k plan), what I could have bought 18 months ago if car was under 10k when new (84/70k), what it would have cost if bought it under 25k miles when it would have been just under (84/70k) and what it would cost now if 58k miles (60/60k)(assuming price doesn't go up next year of course which it could). What I figured out was the following:
Under 10k miles if we could have when we bought it - coverage until 7/2025 at effective cost of $544/month after CPO ends (40 cents per mile)
Just under 25k which we could have done last year - coverage until 7/2026 at effective cost of $276/month after CPO ends (20 cents per mile)
Just under 45k which is what we could do now - coverage until 2/2027 at effective cost of $320/month after CPO ends (24 cents per mile)
Just under 60k which is what we could do next year (but this uses costs/coverage quoted now) - coverage until 7/2027 at effective cost of $296/month (22 cents per mile) (would be the same $320 a month if the overall plan cost for next year increases by $720 year over year)
Clearly on a higher usage vehicle, particularly with meaningful CPO coverage left, it gets much much more expensive. So, buying it right away didn't make sense and cheapest option was right before hitting 25k miles but still $276/month. I'm not sure doing it now makes sense because waiting seems to provide longer coverage for less (or perhaps the same if plan cost goes up a lot). But, it still leaves me wondering whether it makes sense to pay $276/month for coverage on a 2019 Cayenne to cover miles 80,000-112,000. We sold our 2013 Cayenne in March 2021 when we got this one and it had about 130k miles on it and we had to spend on average about $100/month on repairs that would have been covered by a fidelity plan between the end of the CPO and when we sold it (no major issues luckily). Based on the $276-320 per month for coverage and our experience with our 2013 at $100 per month, it is hard to justify buying the plan at any time....unless we factor in the "insurance" against big issues component or unless our experience of about $100 per month is much lower than usual for an older Cayenne. If we were much lower mileage so length of plan is fully used the cost makes more sense - $88 for under 10k miles when just bought and $101 for under 25k.
Based on the above, I am very curious to know people's thoughts on what costs are worth it generally and for the Cayenne specifically (if anyone has specific thoughts) and what the peace of mind for "insurance" is worth to everyone.
Also, I generally have thought about it as cost per month rather than cost per mile - with cars like these is (based on our maintenance/cost experience with our last 2 sports car convertibles with long duration and low miles (Mercedes and Lexus) and our last 2 Cayennes with high miles (over 100,000) but shorter time periods than sports cars), I've always rightly or wrongly thought that while potential issues increase with more miles driven, it is not linear and is more of a combination of age/combined with the miles, with the out periods of time more risky regardless of the miles. How do people around here think about costs of the plans - per mile or per month of effective coverage? For all those who think about it as per mile, what cost per mile makes it worthwhile? 8-10 cents/mi? 15-20 cents/mi? 25 cents/mi?
Appreciate everyone's input.
Last edited by Birdie10; 10-28-2022 at 01:53 PM.
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10-28-2022, 02:39 PM
#547
Rennlist Member
However, as said, my view on insurance is to pay what I normally couldn't afford (or wouldn't want to afford) to pay. Of course PDK comes to mind for my car but I'd probably not get insurance to prevent a $1k - $2k bill. The analysis to me is more qualitative and basically I'd budget the cost of the insurance plus the cost of standard maintenance and deductibles per occurrence (a guess) and decide if this is a car I really want to keep. Then I'd drive the car, forget about all of this and just buy the insurance..
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vg247 (01-04-2023)
10-28-2022, 02:57 PM
#548
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Wow @Birdie that is some analysis! I'm confused, why not have the coverage terms all to 7/2027 ? What I go over with customers under factory warranty, but under the 10k or 25k thresholds is if you are looking for the same X amount of coverage post factory warranty, then this is your cost difference under each threshold. By shortening the sub 10k miles example by 24 months of coverage compared to the under 60k miles example, of course the "per month" of coverage is going to be more, it is spread across 24 less months. I think your cost analysis should cross the same amount of post CPO coverage for an accurate price comparison.
I can only image the math you go through when purchasing a vehicle, it is impressive!
I can only image the math you go through when purchasing a vehicle, it is impressive!
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wquiles (10-30-2022)
10-28-2022, 08:43 PM
#549
Quite an analysis and I'm sure Excel helped you along. Personally, I've never looked at insurance as a maintenance cost mitigator. I figure these cars will always have a certain maintenance cost. Like you, my 911 CPO will expire Dec 2025 and currently, at 17k miles, I'm probably averaging 6-7 k mi per year. Based on your analysis, it would make sense for me to buy but when to buy is certainly a question.
However, as said, my view on insurance is to pay what I normally couldn't afford (or wouldn't want to afford) to pay. Of course PDK comes to mind for my car but I'd probably not get insurance to prevent a $1k - $2k bill. The analysis to me is more qualitative and basically I'd budget the cost of the insurance plus the cost of standard maintenance and deductibles per occurrence (a guess) and decide if this is a car I really want to keep. Then I'd drive the car, forget about all of this and just buy the insurance..
However, as said, my view on insurance is to pay what I normally couldn't afford (or wouldn't want to afford) to pay. Of course PDK comes to mind for my car but I'd probably not get insurance to prevent a $1k - $2k bill. The analysis to me is more qualitative and basically I'd budget the cost of the insurance plus the cost of standard maintenance and deductibles per occurrence (a guess) and decide if this is a car I really want to keep. Then I'd drive the car, forget about all of this and just buy the insurance..
Last edited by LSR; 10-28-2022 at 08:44 PM.
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Highline-Autos.com (10-28-2022),
wquiles (10-30-2022)
12-19-2022, 03:32 PM
#550
Rennlist Member
I recently sold my 911 with 4 years remaining on my Fidelity Platinum Warranty. I want to see about getting the unused premium returned to me (as advertised) but the dealer I bought it through isn't returning messages.
Can anyone selling the Fidelity Warranty chime in here? Is there a corporate service contact for premium returns?
TIA,
DaveGee
Can anyone selling the Fidelity Warranty chime in here? Is there a corporate service contact for premium returns?
TIA,
DaveGee
12-19-2022, 03:46 PM
#551
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It’s best to contact your selling dealer you purchased the plan from and have them initiate the cancellation. If they are unresponsive, reach out to Fidelity directly. Contacting your Dealer first should always be the first step.
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Michael Bernardo | Steingold Volvo Cars
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Michael Bernardo | Steingold Volvo Cars
Authorized Fidelity Warranty Provider | Official Rennlist.com Sponsor
michael.bernardo@steingoldvolvocars.com | 401-723-4700 x126
Homepage: https://steingoldvolvocars.factoryprotect.com/
Get 100% Free Online Quote: https://factoryprotect.ratessys.com/ (Code: RENNLIST for $200.00 Member Discount)
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vg247 (01-04-2023)
12-19-2022, 03:50 PM
#552
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I recently sold my 911 with 4 years remaining on my Fidelity Platinum Warranty. I want to see about getting the unused premium returned to me (as advertised) but the dealer I bought it through isn't returning messages.
Can anyone selling the Fidelity Warranty chime in here? Is there a corporate service contact for premium returns?
TIA,
DaveGee
Can anyone selling the Fidelity Warranty chime in here? Is there a corporate service contact for premium returns?
TIA,
DaveGee
12-19-2022, 04:05 PM
#553
Rennlist Member
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Highline-Autos.com (12-19-2022)
