Extended Warranties
#1
Extended Warranties
My non certified car's warranty is up next year. Thus far, the car has needed nothing. I plan on keeping the car until I get the itch to get a cab. I know the warranty biz has been turned upside down like most businesses. Who's still in business & what can you expect to pay for a policy? I'm not an extended warranty guy but w' the Pcar, it might be cheap insurance. Thanks!
#2
Rennlist Member
I purchased an Easy care gold, which included a tire and wheel warranty, from my dealer.
That was with my new 09..I wanted immediate Tire and Wheel coverage, the rest of the car will be covered after Porsche warranty expires.
Cost about $2600 on a new car, cost and coverage depends on mileage on used car.
That was with my new 09..I wanted immediate Tire and Wheel coverage, the rest of the car will be covered after Porsche warranty expires.
Cost about $2600 on a new car, cost and coverage depends on mileage on used car.
#3
I bought the Easy Care extended warranty on my 2001 Boxster S when it was new. Never had an issue with the car and sold the car last month with 42,000 miles. In retrospect the $2,000 price of the warranty was a waste of $$$$. I will take my chances on my Porsches in the future. Just purchased a 2007 C4S sans extended warranty that had 9500 miles on it with NO CPO and very comfortable with the purchase. My Porsches are used as recreational vehicles that are not used in wintertime and my annual mileage currently is less than 5,000 miles so that is a consideration.
#5
I've had extended warranties on every car I've owned in the last 20 years, and in every case I got back at least double the cost in covered repairs. German cars especially, not only Porsche, are expensive to fix. Even without the spectre of a catastrophic engine failure, I would not keep my '05 C2 a minute without a warranty. $2-3K is one or two relatively minor repairs. OTOH when I was car shopping I looked at a 2000 C2 at a dealer and they wanted $5600 for a 4-yr Fidelity warranty. The dealer was owned by the same corporation that owns Fidelity. I'm not sure if the OPD where I got my '05 sells warranties to dovetail with the expiration of CPO, but I will check them out. It pays to comparison shop, as with anything.
#7
Instructor
I got mine from Fidelity through a local SF Bay Area dealer. There are some real horror stories about Fidelity (and others underwritten by them) but 3 of the local dealers I went to offered these so I gambled. Finally negotiated a 7/70 for $2500, which seems pretty good, considering 1 of the dealers wanted $3600 for 4/40.
No way I'll hit the 70K mileage limit and my only fear is to have paid for this and then have something big go wrong that they won't pay for. It's a scam but so is any type of insurance "until you need it" as they just love to say.
No way I'll hit the 70K mileage limit and my only fear is to have paid for this and then have something big go wrong that they won't pay for. It's a scam but so is any type of insurance "until you need it" as they just love to say.
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#8
Yours is still under factory warranty, right? Mine is under CPO warranty, until early 2011. I'll have to ask at Champion if they have extended warranties after my CPO expires.
#11
Thanks, I'll inquire the next time I'm there. The best warranties exist for immediately after factory warranty expiration, like yours. Mine's an '05 and the factory warranty ran out last January, a month before I bought it, and is on CPO until Feb 2011. I'm wanting to extend it as many years as I can.
#12
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Join Date: Oct 2009
Location: Libertyville, IL
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Every one on this board needs to read the book Don't Get Taken Every Time by Remar Sutton. Especially when it comes to extended warranties and other high profit add ons. The long and the short of it that you don't want to buy an extended warranty from the dealer. These can be purchased for significantly less money outside of the dealership. You can visit www.dontgettakeneverytime.com
#13
Rennlist Member
The long and the short of it that you don't want to buy an extended warranty from the dealer.
#14
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Not all extended warraty peddlers are scammy. USFidelis is one that is. Nice to know that your state government is protecting you so well from scammers when many car dealers are the worst offenders. They mark up an extended warranty many times by at least 100% over what it costs them. I don't know about you but I don't like getting ripped off like that. I work too hard for my money.
Complete your due diligence for your extended warranty and good luck with your purchase.
Complete your due diligence for your extended warranty and good luck with your purchase.
#15
You definitely get what you pay for when it comes to warranties. They all promise you that they are covering everything, will pay for everything, etc. They don't really want to pay for anything and when the part that is broken is covered, there is usually a limit on what they will pay out anyway. Or they consider every component a different repair and charge separate deductibles, or they will only cover used parts, they really suck.
There are some that are really good and take care of everything but you really do pay a lot of money for that. But, if you have one of these cars and are **** about service then you will quickly get your moneys worth.
There are some that are really good and take care of everything but you really do pay a lot of money for that. But, if you have one of these cars and are **** about service then you will quickly get your moneys worth.