Extended Warranty check
01-08-2008, 05:47 PM
#16
Bruh... anybody who tosses and turns over an $800 RMS replacement hasn't done their homework about what routine maintenance and consumables are going to cost on this whip. I can see sleeping better because you're worried about an engine failure, but if $800 one time scares you, wait until you confront the reality of rear tire life...
Never saw you as the nervous type.
Never saw you as the nervous type.
01-08-2008, 08:16 PM
#17
Racer
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Notwithstanding the argument for or against getting one, the price you are quoting is not a good one.
I had 10k miles on my 2003 911 C2, 3 months out of original warranty, when I got a 5 year, 50k mile exclusion extended warranty for $3880, in California, where the only option is to buy the warranty from the dealer. If you decide you want one, keep looking or negotiate harder.
On the pro/con, I bought the warranty to offset the potential catastrophic engine failure, which I am not prepared to cover with the interest on my $3880 certificate of deposit.
I had 10k miles on my 2003 911 C2, 3 months out of original warranty, when I got a 5 year, 50k mile exclusion extended warranty for $3880, in California, where the only option is to buy the warranty from the dealer. If you decide you want one, keep looking or negotiate harder.
On the pro/con, I bought the warranty to offset the potential catastrophic engine failure, which I am not prepared to cover with the interest on my $3880 certificate of deposit.
01-09-2008, 12:58 AM
#18
"I have so much money I don't care if I have to pay myself."
Besides, the odds that a 6+ yr old used car will have problems by the time it reaches 10 is almost a given. If the price of the warranty is commensurate with the estimated repairs for a given car, then there is no issue. IMO, and in my experience, a $2500 4/48,000 is a deal on a 6 year old Porsche. And that's with a $50 dedcutible.
For example, 3 main considerations I had were: starter ($600), alternator ($1400), oil pump ($600). With labor, that is way over $2500. These things are all covered, amid the myriac of other items [including all A/C components, fuel delivery, virtually every electric motor in the (windows, locks, seats, spoiler, etc), all steering, non-consumable brake items, ignition, etc. etc.]
It's a nice feeling to have anything and everything replaced/repaired right when it breaks. No DIY on my part, no "I'll buy the part myself", no shopping around to get the best price on the fix, etc. Just drop the car off at the dealer, and pick it up when it's fixed.
Perhaps I did buy on emotion. But I've already recouped my entry fee, and I haven't even had to replace any major items or encountered the dreaded RMS (knock on wood). IMO, that was $2500 well spent.
-td
peace of mind
01-09-2008, 09:05 AM
#20
Then you shouldn't admonish or discourage those that say "I have so much money I want to buy an aftermarket warranty."
Besides, the odds that a 6+ yr old used car will have problems by the time it reaches 10 is almost a given. If the price of the warranty is commensurate with the estimated repairs for a given car, then there is no issue. IMO, and in my experience, a $2500 4/48,000 is a deal on a 6 year old Porsche. And that's with a $50 dedcutible.
For example, 3 main considerations I had were: starter ($600), alternator ($1400), oil pump ($600). With labor, that is way over $2500. These things are all covered, amid the myriac of other items [including all A/C components, fuel delivery, virtually every electric motor in the (windows, locks, seats, spoiler, etc), all steering, non-consumable brake items, ignition, etc. etc.]
It's a nice feeling to have anything and everything replaced/repaired right when it breaks. No DIY on my part, no "I'll buy the part myself", no shopping around to get the best price on the fix, etc. Just drop the car off at the dealer, and pick it up when it's fixed.
Perhaps I did buy on emotion. But I've already recouped my entry fee, and I haven't even had to replace any major items or encountered the dreaded RMS (knock on wood). IMO, that was $2500 well spent.
-td
Besides, the odds that a 6+ yr old used car will have problems by the time it reaches 10 is almost a given. If the price of the warranty is commensurate with the estimated repairs for a given car, then there is no issue. IMO, and in my experience, a $2500 4/48,000 is a deal on a 6 year old Porsche. And that's with a $50 dedcutible.
For example, 3 main considerations I had were: starter ($600), alternator ($1400), oil pump ($600). With labor, that is way over $2500. These things are all covered, amid the myriac of other items [including all A/C components, fuel delivery, virtually every electric motor in the (windows, locks, seats, spoiler, etc), all steering, non-consumable brake items, ignition, etc. etc.]
It's a nice feeling to have anything and everything replaced/repaired right when it breaks. No DIY on my part, no "I'll buy the part myself", no shopping around to get the best price on the fix, etc. Just drop the car off at the dealer, and pick it up when it's fixed.
Perhaps I did buy on emotion. But I've already recouped my entry fee, and I haven't even had to replace any major items or encountered the dreaded RMS (knock on wood). IMO, that was $2500 well spent.
-td
I'm glad it worked out for you.
01-09-2008, 09:08 AM
#21
Absolutely true statement, given that the "right" price is totally subjective, and everybody's threshold for "peace of mind" is unique.
The only thing I just can't agree with is that this is rationally good value. It's just not. Warranty companies make money precisely because it's not.
Insurance makes sense when the consequences of something going wrong are more frightening than the odds against it are reassuring. As I've said, I can see that with personal liability insurance, I can see it with house insurance, I can see it with life insurance for a person with a family. I just wouldn't let a car put me in that position.
The only thing I just can't agree with is that this is rationally good value. It's just not. Warranty companies make money precisely because it's not.
Insurance makes sense when the consequences of something going wrong are more frightening than the odds against it are reassuring. As I've said, I can see that with personal liability insurance, I can see it with house insurance, I can see it with life insurance for a person with a family. I just wouldn't let a car put me in that position.
01-09-2008, 12:41 PM
#22
Banned
Bruh... anybody who tosses and turns over an $800 RMS replacement hasn't done their homework about what routine maintenance and consumables are going to cost on this whip. I can see sleeping better because you're worried about an engine failure, but if $800 one time scares you, wait until you confront the reality of rear tire life...
Never saw you as the nervous type.
Never saw you as the nervous type.
And believe me, rolling 315/25/19 PS2s is my reality so check yourself before you wreck yourself with your budget tires, pimpin'.
01-09-2008, 12:42 PM
#23
Banned
Absolutely true statement, given that the "right" price is totally subjective, and everybody's threshold for "peace of mind" is unique.
The only thing I just can't agree with is that this is rationally good value. It's just not. Warranty companies make money precisely because it's not.
Insurance makes sense when the consequences of something going wrong are more frightening than the odds against it are reassuring. As I've said, I can see that with personal liability insurance, I can see it with house insurance, I can see it with life insurance for a person with a family. I just wouldn't let a car put me in that position.
The only thing I just can't agree with is that this is rationally good value. It's just not. Warranty companies make money precisely because it's not.
Insurance makes sense when the consequences of something going wrong are more frightening than the odds against it are reassuring. As I've said, I can see that with personal liability insurance, I can see it with house insurance, I can see it with life insurance for a person with a family. I just wouldn't let a car put me in that position.
Rationally, the 911 is NOT a good value (I would argue).
01-09-2008, 01:55 PM
#24
01-25-2008, 06:17 PM
#27
Track Day
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For me the warranty made sense. I went through a company that the dealership has been going through for 10+ years. Cost $2000 for 5 years/150,000 miles!! The piece of mind alone on a car that I will be driving EVERY day to work is worth it.
Even if I never collect one penny on the thing, I will be ahead. Peace of mind when driving the car how I want to drive it is worth something to me. Certainly the $40 or so per month the thing will cost.
Coming off of 4 years of Ferrari ownership, I am looking forward to not worrying every time I give it a little extra...
Even if I never collect one penny on the thing, I will be ahead. Peace of mind when driving the car how I want to drive it is worth something to me. Certainly the $40 or so per month the thing will cost.
Coming off of 4 years of Ferrari ownership, I am looking forward to not worrying every time I give it a little extra...
01-25-2008, 07:32 PM
#28
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The economic justification is similar to purchasing full coverage car insurance when the law only requires minimal coverage. It's the just in case factor.
Also, contrary to the counterexamples, I have used my extended warranty for a number of little things, and the total has added up to more than the purchase price. Keep in mind, that fixing anything on a P-car is automatically more expensive. For example, just replacing my seat motor was around $1500. When I bought the warranty, I contepmlated the things that might need to be replaced (e.g., alternator, starter, sunroof motor, window motor, etc) and the dreaded RMS. I've already recouped the cost of my warranty - and I haven't had to replace any of the parts I thought would go out. (knock on wood). The reason for this is that my warranty covers LOTS of things. Not just plenums and pinion seals.
-td
Also, contrary to the counterexamples, I have used my extended warranty for a number of little things, and the total has added up to more than the purchase price. Keep in mind, that fixing anything on a P-car is automatically more expensive. For example, just replacing my seat motor was around $1500. When I bought the warranty, I contepmlated the things that might need to be replaced (e.g., alternator, starter, sunroof motor, window motor, etc) and the dreaded RMS. I've already recouped the cost of my warranty - and I haven't had to replace any of the parts I thought would go out. (knock on wood). The reason for this is that my warranty covers LOTS of things. Not just plenums and pinion seals.
-td
Not to mention if you have a lein on the car its required by the loan contract to have full coverage.
1500 for a 100 dollar motor is not what owning a P car is about.
100 bucks and a couple hours and its done.
Not to mentions warranties are a bit of a gamble on if they will actually cover stuff or if they will consider it a wear item or damage from abuse.
