To CPO or not to CPO...?
 

Visiting from the 993 forums...permission to approach the 997 board...
My friend out here in Santa Fe is buying a 2006 C2S with 15km from Stoddards for $71k. He knows he wants this car option-wise (Seal Gray/Cocoa, sport seats, black gauges, etc) but is debating whether or not to spend an additional $2k to get it certified. Car was inserviced 2 years ago and will be a daily driver, weather-permitting, here in New Mexico and grand-touring through the US. The dealership 60 miles away does little to inspire confidence, but the independents here don't see alot of 997s and are, for the most part, just OK on the older cars anyways. He isn't planning on selling the car for a while, but who ever knows.
Advice and opinions welcomed.

If he is going to keep the car for several years, I would probably CPO the car. Since it was put into service two years ago, he will only have two years of the original warranty left. If he sells it before the CPO warranty expires, having the CPO should help with resale.

That being said, I did not have my 2007 C2S CPOed when I bought it in June. But my car had 3 years and 9 months of original factory warranty remaining, and there is little chance I will keep it past the original warranty period. For me, it would probably been a waste of cash to pay for the CPO.

I had a great experience with CPO on my E46M3 -- worth every penny. Diffy at about $4k... The next buyer paid a big premium for the car because it still had time left on the CPO. I'd say you won't need it for the miles (50k more), but the 2 extra years is a nice piece of insurance. Well, unless the car is never used I suppose.

With only two years left on the original warranty, I'd say it's money well spent...whether used for warranty work or for resale. I know I've accumulated more than $2,000 in warranty work in the first 25k miles...

CPO was important to us and the reason we ended up buying from a dealer vs private party - for the cost it provides the peace of mind to feel comfortable keeping the car longer knowing warranty issues will be covered (and, as others have said, should we choose to sell it should add value to the car). It is just one of those 'better safe then sorry' things.

FWIW, CPO warranty bought me a new motor when needed on my 996 (at 48,000 miles).

Big fan of CPO. It is cheap insurance for expensive things that MAY go wrong!!

Thanks, guys. I appreciate the practical input.

When I bought my 996 in Aug. 05, I was told the CPO costs the dealer about $1500 to do the inspection and write the paperwork. Depending where he is on negotioating the price, he might be able to have it CPO'd at no extra cost. I think it's well worth it.

I bought 12,000mi a Boxster-S with 4mos of factory left. Had a dealer do a CPO inspection - perfect. Then went to the external market I got a 5yr/80,000 extended for <$2k with a payback if-not-used option. Sold the car couple years later - guy didn't want to pick it up for $1k ....Poof. The 997 was CPO'd already. I don't think I'd swim naked in this expensive sea.

I agree about the risk of having one of these cars out of warranty, but I would also be equally concerned about buying an extended warranty from someone other than Porsche for these cars. There are too many stories about people finding it next to impossible to get claims paid by some of these third party warranty companies.

GS ...there's all sorts of educated gambles we make. Some don't bother with the educated part. The MD State Employees Credit Union (you don't need to be one to belong..?!) sells one that's a divsion of Etna ..or some major Ins. Co. I figured I had enough assets to attach - if pressed. Porsche can just as well tell you to F.O. too?!

Gee, what was I thinking. I guess I am just an uneducated dummy.

Is it 2k or 2.5k to get it CPO'd? i was quoted 2.5k are they allowed to do that?

tia

I think they are allowed to charge whatever they can get, but not positive. I have had a Porsche sales person tell me that the dealer cost is $1,000. I have never seen the CPO cost line itemed out on a CPO car, so how do you know what they are charging? I guess if you have negotiated a deal on a non CPO car, then tell them you want it CPOed, you would then know what they are charging.