Question for the Experts:

My CPO ends in April 2012. I don't know if I have an "early" '06 that MIGHT have IMS/RMS issues, but I'd like to get your opinions on purchasing an extended warranty. So far the car has been great. Porsche is about to replace the Bose amplifier as one speaker keeps pooping out, a rear foglight is out, and 2nd gear can be a bit clunky, but overall the car is in great shape. I still can't get over the sound of that engine at about 4000 rpms and higher!

I can't see trading in or selling this car for several more years as I truly enjoy it and the 991 is presently out of reach, so having the warranty might make sense and ease my mind a bit.

Any opinions on which one to get?

Thanks--

 

As for similar issues you mention I added a 3 year EasyCare warranty on and have never regretted it. Shortly after the manufactures warranty ran out my flywheel sheared off. This 2k repair was covered by the aftermarket warranty. Really had nothing go wrong since but there's a peace fo mind factor I like. You'll find this question of hot debate in previous posts with some Rennlisters flat out dissing the idea. But it comes down to you and what you like. As you may know these are not inexpensive cars to repair.

 

My CPO ran out a year ago and I have been self insured ever since. Yes, there's a tiny chance that I could end up with a $20K bill for a new engine. But for several grand up front to protect me, I am taking my chances. Really no different than saying no to the extended warranty on the refrigerator. Just a higher value in the risk, and a much higher cost to insure it.

 

I'm not an expert by any means, and I realize these insurers do very well for themselves by making intelligent decisions about the likely costs of repairs to my car ... but I'm risk averse, so I sprung for the extended exclusionary warranty through my dealership.

Believe me, nothing will make me happier than looking back in 3 years and realizing I flushed $4000 down the toilet. And, until then, I will sleep very well.

 

Just do it

 

I'm a believer in extended warranties because I've had many of them and so far every one has paid for itself at least double. The 6 yr warranty I currently have on my 7 yr old 997 has paid me $1350 of its $4600 cost in the first year and I have (unfortunately) confidence that in the next 5 years it will more than pay for itself, all the while keeping me covered in case of a catastrophic engine failure.

That said, a lot depends on the type and terms of the warranty. The more the warranty covers, the more likely it is to pay for itself. An exclusionary warranty covers everything except a short list of exclusions. All other warranties cover ONLY what's on the list of covered items, and exclude everything else. I've found that the difference in cost between one of those powertrain-only warranties and the full-on exclusionary isn't enough to justify the huge disparity in coverage. It's those powertrain warranties where the warranty companies really make a killing, because most cars today aren't prone to total engine or transmission destruction. Porsches are a notable exception. Nonetheless, whilst that's a small percentage, it's not that difficult to shell out $20K piecemeal on lesser repairs on a Porsche as it ages.

Fidelity's exclusionary warranty has a clause that says it only pays for breakdowns the result of wear until the car reaches 50,000 miles. To me that's a get-out-free card for Fidelity. IMS fell apart at 51K and grenaded the engine? Well, that bearing failed due to wear! So read the fine print!

Most warranties also include a cap on reimbursement for single repairs as well as an aggregate. Typically the aggregate is the purchase price of the vehicle. Individual repair caps are typically the wholesale value of the vehicle at the time of breakdown. Fortunately it'll be a while (and maybe hopefully never!) before a 997 is worth less than a new engine, though.

 

Doc,

You have only one rear fog light. The other side is not supposed to illuminate. It's a Euro thing.

 

Reason I got an extended policy for my -06 was that nothing is cheap to repair on these cars. Doesn't take a blown engine for the policy to pay off. You'll be amazed what minor nuisance repairs cost. Adds up very, very quickly.

 

Seriously?! I feel like a complete idiot. One local import service guy mentioned that "it seemed to work" to him; I guess he assumed I knew there was only one! (covering my face now...). Thanks--

 

Right now I am looking at purchasing an extended warranty for my 2008 C2S. It has only 8800 miles on it and the factory warranty will end in October ( weekend ride and sleeps in winter). So far I have received two quotes. One from Costco which is actually from Century. The other was from my local Porsche dealer which is actually from Fidelity. Both are exclusionary plans for 7 years /70K miles. Both quotes were within $30 of $3,100.

I did some research on these two companies and found the bbb rates both highly. From what I have found is that customer dissatisfacton was largely related to the customer's misunderstanding of what is actually covered or not covered in the plans. I ams till on the fence about getting purchasing a plan but it seems like a pretty good deal. By the way, the Costco plan goes up to $4,500 if I sign up after 10K miles even if the car is still under warranty. I need to check that with the dealer quoted plan.

 

I bought the warranty for my 06C2S when I purchased the car in June 2010 (32k miles). It cost $3,000. In December 2012 with 43K on the the clock the engine developed a crack on #2 cylinder. The warranty covered the cost of a remanufactured replacement engine from Porsche. The cost of the engine and labor was over $22K. My cost was just over $300 including the $100 deductable. What a shocker! These cars need a warranty!

 

I believe only UK cars have two rear fogs. Everyone else pretty much have the one only on the driver's side.

 

Had EasyCare on my 996 and it paid for itself. I can't imagine not having a warranty. Just look at the price of a crate motor. I had good luck with claims. There were a couple a had to come out of pocket at the dealer, but it was small and loaners are no issue.

 

When you say 7 years/70k miles, is that 7 years after the stock warranty runs out? Can you still buy a warranty after the stock warranty runs out?

 

From what I'm discovering 7 yrs starts from in service date: so you only get the extra 3 yrs.

Checked with two independent Extended Warranty Companies.
Q. Am I covered for a PDK transmittion, or repalcement engine if failure occurs
A. No

Q. What is the maximum pay out for a single claim.
A. 5k for one and no limit for another ( but exclude engine or gearbox replacements )

Still searchin........

O Yea, last thing, do it before your oem warranty expires, its cheaper.