FS: LATE MODEL '05 CS2 - 6410 MILES
12-13-2009, 09:26 PM
#48
Drifting
Glad to hear you got a good price. It was a very appealing car. I agree with you about the model designation thing I took mine off because I always caught my wash mitt on it. I like the clean look, and apparently so did your buyer. Hope you can get back into another Porsche someday soon.
12-13-2009, 09:51 PM
#49
Banned
Thread Starter
WARRANTY
Thanks guys.
Here's the lowdown on the warranty. I had this one prospective buyer who loved the car but balked because it was out of warranty. And I could understand why. If there happened to be a major engine failure in the first months of ownership that would set someone back 15 to 25k (whatever the cost is for a re-manufactured engine) that's a high risk to take on as a new owner. In fact, if I were to keep the car I would want some kind of coverage too against catastrophic failure.
So I did a little research. I found a highly rated company - and in fact is the only company authorized in the state of CA to sell these warranties - and talked to them at length about buying a warranty after my original factory warranty had expired. I told them I was only interested in a catastrophic failure type of coverage for the power-train, and so they worked up a quote and emailed it to me. I was pleasantly surprised to learn that a 4yr/60k mile power-train warranty with a $200 deductible would only cost me $648, based on the current miles of the car, ~ 6500 mi. I explained to them that I was only buying the policy to help sell the car and wanted to know if I could transfer the policy to the next owner. They said it's only a $50 transfer fee. I asked them how long I had to cancel and still get a full refund (in case it became a negotiation ploy - I could thus have the option of selling the car with or without a warranty) and they said I had 60 days, can you believe that? So of course I paid for it on the spot over the phone and revised the ad to reflect warranty coverage and also took out an AutoTrader ad just to boost the reach. And even though the policy plus the transfer fee comes to only $698, I added a markup to cover my time and effort to set this up and jacked up the price an even thousand (to also allow a little room for negotiation), and had an interested prospective buyer contact me the very next day, who ended up being the lucky new owner of my pristine 997S.
So like a life insurance policy, the cost of this policy is really dependent on the "age" of the car. The fewer miles it has, the longer the car is expected to live before major failures. It really has nothing to do with the owner, and everything to do with the make, model, yr, and mileage of the car.
The name of the company is Warranty Direct, and they told me if I had friends or family who could use such a warranty and would sign up for one that they would consider it a referral and send something my way (maybe a discount for me to extend the coverage). But these "friends" of mine had to live outside of FL and CA for me to get referral benefit. So if you live outside FL and CA and would like to say you learned about them through me, please PM me your email address and I will forward it to them so that they can know I steered you to them.
They have different warranty plans from full coverage to only power-train coverage as I got. They provide 24/7 roadside assistance (towing) and rental car reimbursement while your car is being serviced. And you can take it to any authorized Porsche service center of your choice. And only factory OEM parts are used, especially if you're taking it to a Porsche dealership.
As a check, I spoke to the service manager at the local Porsche dealership about these warranties from Warranty Direct, and they said that when your car is brought in, you just give them the policy number and identifying information (on a card you get) and they will call the number on the card to get an authorization and everything will be billed directly to a credit card number given to them when they call. Oh, if you have a deductible, that's obviously the only out of pocket expense for you. There is no reimbursement here for warranty repairs. You don't pay out of pocket first and then sit and wait for a reimbursement check to be cut. If you have no deductible, you pay nothing, just like a standard factory warranty.
I think there might be an advantage to getting this warranty before your factory one expires. But as you can see in my case I got it after mine had already expired.
Here's the lowdown on the warranty. I had this one prospective buyer who loved the car but balked because it was out of warranty. And I could understand why. If there happened to be a major engine failure in the first months of ownership that would set someone back 15 to 25k (whatever the cost is for a re-manufactured engine) that's a high risk to take on as a new owner. In fact, if I were to keep the car I would want some kind of coverage too against catastrophic failure.
So I did a little research. I found a highly rated company - and in fact is the only company authorized in the state of CA to sell these warranties - and talked to them at length about buying a warranty after my original factory warranty had expired. I told them I was only interested in a catastrophic failure type of coverage for the power-train, and so they worked up a quote and emailed it to me. I was pleasantly surprised to learn that a 4yr/60k mile power-train warranty with a $200 deductible would only cost me $648, based on the current miles of the car, ~ 6500 mi. I explained to them that I was only buying the policy to help sell the car and wanted to know if I could transfer the policy to the next owner. They said it's only a $50 transfer fee. I asked them how long I had to cancel and still get a full refund (in case it became a negotiation ploy - I could thus have the option of selling the car with or without a warranty) and they said I had 60 days, can you believe that? So of course I paid for it on the spot over the phone and revised the ad to reflect warranty coverage and also took out an AutoTrader ad just to boost the reach. And even though the policy plus the transfer fee comes to only $698, I added a markup to cover my time and effort to set this up and jacked up the price an even thousand (to also allow a little room for negotiation), and had an interested prospective buyer contact me the very next day, who ended up being the lucky new owner of my pristine 997S.
So like a life insurance policy, the cost of this policy is really dependent on the "age" of the car. The fewer miles it has, the longer the car is expected to live before major failures. It really has nothing to do with the owner, and everything to do with the make, model, yr, and mileage of the car.
The name of the company is Warranty Direct, and they told me if I had friends or family who could use such a warranty and would sign up for one that they would consider it a referral and send something my way (maybe a discount for me to extend the coverage). But these "friends" of mine had to live outside of FL and CA for me to get referral benefit. So if you live outside FL and CA and would like to say you learned about them through me, please PM me your email address and I will forward it to them so that they can know I steered you to them.
They have different warranty plans from full coverage to only power-train coverage as I got. They provide 24/7 roadside assistance (towing) and rental car reimbursement while your car is being serviced. And you can take it to any authorized Porsche service center of your choice. And only factory OEM parts are used, especially if you're taking it to a Porsche dealership.
As a check, I spoke to the service manager at the local Porsche dealership about these warranties from Warranty Direct, and they said that when your car is brought in, you just give them the policy number and identifying information (on a card you get) and they will call the number on the card to get an authorization and everything will be billed directly to a credit card number given to them when they call. Oh, if you have a deductible, that's obviously the only out of pocket expense for you. There is no reimbursement here for warranty repairs. You don't pay out of pocket first and then sit and wait for a reimbursement check to be cut. If you have no deductible, you pay nothing, just like a standard factory warranty.
I think there might be an advantage to getting this warranty before your factory one expires. But as you can see in my case I got it after mine had already expired.
12-13-2009, 10:01 PM
#50
Banned
Thread Starter
WARRANTY
Thanks guys.
Here's the lowdown on the warranty. I had this one prospective buyer who loved the car but balked because it was out of warranty. And I could understand why. If there happened to be a major engine failure in the first months of ownership that would set someone back 15 to 25k (whatever the cost is for a re-manufactured engine) that's a high risk to take on as a new owner. In fact, if I were to keep the car I would want some kind of coverage too against catastrophic failure.
So I did a little research. I found a highly rated company - and in fact is the only company authorized in CA to sell these warranties - and talked to them at length about buying a warranty after my original factory warranty had expired. I told them I was only interested in a catastrophic failure type of coverage for the power-train, and so they worked up a quote and emailed it to me. I was really surprised to learn that a 4yr/60k mile power-train warranty with a $200 deductible would only cost me $648, based on the current miles of the car, ~ 6500 mi. I explained to them that I was only buying the policy to help sell the car and wanted to know if I could transfer the policy to the next owner. They said it's only a $50 transfer fee. I asked them how long I had to cancel and still get a full refund (in case it became a negotiation ploy - I could thus have the option of selling the car with or without a warranty) and they said I had 60 days, can you believe that? So of course I paid for it on the spot over the phone and revised the ad to reflect warranty coverage and also took out an AutoTrader ad just to boost the reach. And even though the policy plus the transfer fee comes to only $698, I added a markup to cover my time and effort to set this up and jacked up the price an even thousand (to also allow a little room for negotiation), and had an interested prospective buyer contact me the very next day, who ended up being the lucky new owner of my pristine 997S.
So like a life insurance policy, the cost of this policy is really dependent on the "age" of the car. The fewer miles it has, the longer the car is expected to "live" before major "organ failure." It really has nothing to do with the owner, and everything to do with the make, model, yr, and mileage of the car.
The name of the company is Warranty Direct, and they told me if I had friends or family who could use such a warranty and end up signing up for one, that they would consider it a referral and send something my way (maybe a discount for me to extend the coverage). But these "friends" of mine had to live outside of FL and CA for me to get referral credit. So if you live outside FL and CA and would like to say you learned about them through me, please PM me your email address and I will forward it to them so that they can know I steered you to them.
They have different warranty plans from full coverage to basic power-train coverage like I got. They provide 24/7 roadside assistance (towing) and rental car reimbursement while your car is being serviced. And you can take it to any authorized Porsche service center of your choice. And only factory OEM parts are used, no cutting corners with cheapo parts.
As a check, I spoke to the service manager at the local Porsche dealership about these warranties from Warranty Direct, and they said "Oh yeah, we take them just like any other warrantied car." That when your car is brought in, you just give them the policy number and identifying information (on a card you get) and they will call the number on the card to get an authorization and everything will be billed directly to a credit card number given to them when they call. Oh, if you have a deductible, that's obviously the only out of pocket expense for you. There is no reimbursement here for warranty repairs either. You don't pay out of pocket first and then sit and wait for a reimbursement check to be cut. If you have no deductible, you pay nothing, just like a standard factory warranty.
I think there might be an advantage to getting this warranty before your factory one expires. But as you can see in my case I got it after mine had already expired.
Here's the lowdown on the warranty. I had this one prospective buyer who loved the car but balked because it was out of warranty. And I could understand why. If there happened to be a major engine failure in the first months of ownership that would set someone back 15 to 25k (whatever the cost is for a re-manufactured engine) that's a high risk to take on as a new owner. In fact, if I were to keep the car I would want some kind of coverage too against catastrophic failure.
So I did a little research. I found a highly rated company - and in fact is the only company authorized in CA to sell these warranties - and talked to them at length about buying a warranty after my original factory warranty had expired. I told them I was only interested in a catastrophic failure type of coverage for the power-train, and so they worked up a quote and emailed it to me. I was really surprised to learn that a 4yr/60k mile power-train warranty with a $200 deductible would only cost me $648, based on the current miles of the car, ~ 6500 mi. I explained to them that I was only buying the policy to help sell the car and wanted to know if I could transfer the policy to the next owner. They said it's only a $50 transfer fee. I asked them how long I had to cancel and still get a full refund (in case it became a negotiation ploy - I could thus have the option of selling the car with or without a warranty) and they said I had 60 days, can you believe that? So of course I paid for it on the spot over the phone and revised the ad to reflect warranty coverage and also took out an AutoTrader ad just to boost the reach. And even though the policy plus the transfer fee comes to only $698, I added a markup to cover my time and effort to set this up and jacked up the price an even thousand (to also allow a little room for negotiation), and had an interested prospective buyer contact me the very next day, who ended up being the lucky new owner of my pristine 997S.
So like a life insurance policy, the cost of this policy is really dependent on the "age" of the car. The fewer miles it has, the longer the car is expected to "live" before major "organ failure." It really has nothing to do with the owner, and everything to do with the make, model, yr, and mileage of the car.
The name of the company is Warranty Direct, and they told me if I had friends or family who could use such a warranty and end up signing up for one, that they would consider it a referral and send something my way (maybe a discount for me to extend the coverage). But these "friends" of mine had to live outside of FL and CA for me to get referral credit. So if you live outside FL and CA and would like to say you learned about them through me, please PM me your email address and I will forward it to them so that they can know I steered you to them.
They have different warranty plans from full coverage to basic power-train coverage like I got. They provide 24/7 roadside assistance (towing) and rental car reimbursement while your car is being serviced. And you can take it to any authorized Porsche service center of your choice. And only factory OEM parts are used, no cutting corners with cheapo parts.
As a check, I spoke to the service manager at the local Porsche dealership about these warranties from Warranty Direct, and they said "Oh yeah, we take them just like any other warrantied car." That when your car is brought in, you just give them the policy number and identifying information (on a card you get) and they will call the number on the card to get an authorization and everything will be billed directly to a credit card number given to them when they call. Oh, if you have a deductible, that's obviously the only out of pocket expense for you. There is no reimbursement here for warranty repairs either. You don't pay out of pocket first and then sit and wait for a reimbursement check to be cut. If you have no deductible, you pay nothing, just like a standard factory warranty.
I think there might be an advantage to getting this warranty before your factory one expires. But as you can see in my case I got it after mine had already expired.
12-13-2009, 11:24 PM
#51
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Ben, I hope and pray my usual skeptical (glass half full) self is just overreacting but just sounds little odd. If he had a "bad" check then of course he would not question the asking price as he already made the check out for your asking price before he arrived. Please post us and let us know all is well. Best of luck
12-13-2009, 11:50 PM
#53
Banned
Thread Starter
-----------------------
The new owner emailed me with pics of his new ride after he washed the dirt from the rain off. He drove from OC to LA last night in the rain after attending a holiday party here. Here's some of what he said:
"Despite the rain the car felt like it was glued to the road. I reached up to adjust the mirror when a big truck was behind me, hit the dimming button and everything was perfect.
I figured out how to work a few of the options: lowered the seat, tilted the wheel down and telescoped it out a little. Cleaned it up this morning all the neighbors came by to ooh and aahh."
12-14-2009, 08:04 AM
#54
Burning Brakes
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I just checked again and they now do. Thanks for the info Ben.
12-14-2009, 09:51 AM
#55
Instructor
Join Date: Oct 2009
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Thanks. Maybe I can change my username to Hada911 -- oh wait.
-----------------------
The new owner emailed me with pics of his new ride after he washed the dirt from the rain off. He drove from OC to LA last night in the rain after attending a holiday party here. Here's some of what he said:
"Despite the rain the car felt like it was glued to the road. I reached up to adjust the mirror when a big truck was behind me, hit the dimming button and everything was perfect.
I figured out how to work a few of the options: lowered the seat, tilted the wheel down and telescoped it out a little. Cleaned it up this morning all the neighbors came by to ooh and aahh."
-----------------------
The new owner emailed me with pics of his new ride after he washed the dirt from the rain off. He drove from OC to LA last night in the rain after attending a holiday party here. Here's some of what he said:
"Despite the rain the car felt like it was glued to the road. I reached up to adjust the mirror when a big truck was behind me, hit the dimming button and everything was perfect.
I figured out how to work a few of the options: lowered the seat, tilted the wheel down and telescoped it out a little. Cleaned it up this morning all the neighbors came by to ooh and aahh."
Sounds like your buyer is the real deal, ie he cares about the car almost as much as you do/did. Your car is such a fine example of 997, I wish I had an extra garage space to have been able to buy it! Nicely done.
)
12-14-2009, 07:08 PM
#57
Race Car
Post dated check is not unusual. The check was likely printed on Friday after the Fed (on EST) closed or on Saturday. Monday was the next business day. I have had a check printed and ready before I purchased a car, so I see the logic. Cashiers checks can simply be deposited into your account if you don't use it.
Good going OC. Hope that you will be back soon.
Good going OC. Hope that you will be back soon.
12-31-2009, 11:32 PM
#59
Three Wheelin'
wop
feel for ya buddy!
currently wop (without porsche : ) myself, for the first time in years.
no such thing as a "highly rated" non-oem extended warranty company! ; )
gheez, you're a big time gambler, taking a boa cashiers check!
hope we both get back in the saddle quick!
you ought to try drivin' the next one a lil' though!! : )~
happy new year!
currently wop (without porsche : ) myself, for the first time in years.
no such thing as a "highly rated" non-oem extended warranty company! ; )
gheez, you're a big time gambler, taking a boa cashiers check!
hope we both get back in the saddle quick!
you ought to try drivin' the next one a lil' though!! : )~
happy new year!
