Opinion - should I get a powertrain warranty?
#16
Looks good, but give a real thorough search through the entire contract and see if there are any stipulations. When I was talking with an agent about this he saw that and thought it was final, but looked around some more in the contract and found that the payout was limited to the ACV of the vehicle OR certain set values (in my case it was $2000 for transmission, $3000 for engine, and $7500 per visit).
Everything I've seen says that these contracts are designed with loopholes in mind, so be thorough. And if you find it's all legit I'd love for you to PM me their contact information as I'm still looking too.
Everything I've seen says that these contracts are designed with loopholes in mind, so be thorough. And if you find it's all legit I'd love for you to PM me their contact information as I'm still looking too.
#17
Looks good, but give a real thorough search through the entire contract and see if there are any stipulations. When I was talking with an agent about this he saw that and thought it was final, but looked around some more in the contract and found that the payout was limited to the ACV of the vehicle OR certain set values (in my case it was $2000 for transmission, $3000 for engine, and $7500 per visit).
Everything I've seen says that these contracts are designed with loopholes in mind, so be thorough. And if you find it's all legit I'd love for you to PM me their contact information as I'm still looking too.
Everything I've seen says that these contracts are designed with loopholes in mind, so be thorough. And if you find it's all legit I'd love for you to PM me their contact information as I'm still looking too.
He confirmed my worst fears. These after market warranties don't cover things like RMS. RMS repair is $1,500.
He says they find all sorts of loopholes to not pay :-(
#19
I don't have an aftermarket warranty, so I can't speak to the quality of the warranty or the company, but here's a piece of general advice: NEGOTIATE - the margins on things like aftermarket warranties tend to be very large, you should negotiate the price like any other line item on a purchase order.
And for that type of incremental cost get full coverage and make sure it's exclusionary coverage as others have mentioned. Our cars are only now approaching the age when A/Cs and other major accessories start going.
And for that type of incremental cost get full coverage and make sure it's exclusionary coverage as others have mentioned. Our cars are only now approaching the age when A/Cs and other major accessories start going.
#20
BTW you mentioned Fidelity Warranty. I have Fidelity on my wife's MINI and my 996 coupe. 3 different Porsche dealers in my area sell and accept Fidelity as does my local BMW/MINI dealer. It's backed by a company called JM&A. IIRC I checked before I purchased and AM Best rated the insurance company financial stability "Excellent". I have not had to use the warranty yet, but based on my research I would say they are not some fly by night Mickey Mouse operation. When I bought my warranty I specifically asked the SA to confirm it covered everything from leaking seals to engine replacement.
#21
Some Warranties cover only breakdown repairs, some do wear & tear as well. And you can bet the ones that only do breakdown will love to count everything off as "wear and tear".
Still, I have a feeling many of us are looking for breakdown warranties that cover internal engine parts + timing chain.
Still, I have a feeling many of us are looking for breakdown warranties that cover internal engine parts + timing chain.
#22
Some Warranties cover only breakdown repairs, some do wear & tear as well. And you can bet the ones that only do breakdown will love to count everything off as "wear and tear".
Still, I have a feeling many of us are looking for breakdown warranties that cover internal engine parts + timing chain.
Still, I have a feeling many of us are looking for breakdown warranties that cover internal engine parts + timing chain.
"Exclusionary" warranties (which cover everything unless specifically excluded on a list) are the best, but many companies only offer them to dovetail with the expiration of the original factory warranty. They're harder to find and more expensive on a car where the OEM warranty has expired. "Named Component" warranties cover everything on a list, and nothing that isn't on that list. Some are more comprehensive than others, so you really need to read them carefully, and never assume anything is covered unless you see it specifically mentioned. Even those warranties are well worth it if you intend keeping the car for a long time, or put on a lot of miles, at least from my experience with German cars of several brands.
Lastly, the terms of warranties through the same underwriter vary from state to state depending on their insurance regulations. California and Florida are the toughest (or at least, the most beaurocratically encumbered).