Fidelity Warranty Services (again)...
#1
Racer
Thread Starter
Fidelity Warranty Services (again)...
Hey all, did some research and appreciate the feedback provided on the forum for some of the warranties some dealers offer and personal experiences. I've attempted do a little rate shopping hear in SC and I am getting the cold shoulder from the finance guys from various dealerships since they didn't sell the car to me! I got a single quote for the powertrain warranty from one dealership who quoted me $2500 for four years of warranty (powertrain only), $4700 for the 4 year "Platinum" coverage. They would require me to bring it in for inspection also. My car is an 2006 C2S with 40k miles. Are these bad prices? Also, I haven't pursued it more than internet searches and a short discussion with the guy who offered the quote. Does anyone know if Fidelity's warranty is 4 years and mileage based from total miles on car or does the mileage allowed start from the date of purchase mileage? Any insight you folks could provide on your experiences would be great as I have zero knowledge of this type of "insurance". Fidelity warranty based experience is a plus!
#2
I have a Fidelity platinum warranty that was transferred to my when I bought my car. My understanding is that mileage is total mileage not from point of purchase. You used to be able to get a Fidelity direct quote over the phone, not sure if this is still the same. I have used the warranty one time so far for an issue with the latch on my cab top. I paid my deductible ($100) plus tax on the job. They paid parts and labor (~$1000). Pretty smooth process my car was only in the shop about 2 days due to the claims inspector having to approve payment because of the dollar amount. Anything under $1000 and they can verbal ok for payment.
Hope this helps
Ken
Hope this helps
Ken
#4
$4700 for a 4 year Fidelity Platinum on an '06 is a decent price. I'd grab it before it disappears or goes up (not sure if Fidelity bases their rates on model years or calendar years). I paid $4600 for 6 years of similar coverage on my '05 and it has already repaid me $2600 of that with 4,5 years left to go. Unless you DIY, even the little things on these cars are very expensive and add up quickly. That $2600 was just a starter cable, a shift cable, and a water pump. We're talking about cars that are currently 6-7 yrs old and coverage until they're 10-12. Crap happens on cars that old. I've had half a dozen warranties and the worst I ever did was break even. Several times I doubled my money.
As long as you can get an exclusionary warranty (like the Fid Pt) don't even think about any other type. The exclusionary warranties give you a small list of items that are not covered, and everything not on that list is covered. Other types give you a long list of items that are covered, but if it's not on that list you're going to pay out of your pocket. These are highly sophisticated cars, and a lot of expensive items are so specific that they will never show up on some generic list of covered parts.
As long as you can get an exclusionary warranty (like the Fid Pt) don't even think about any other type. The exclusionary warranties give you a small list of items that are not covered, and everything not on that list is covered. Other types give you a long list of items that are covered, but if it's not on that list you're going to pay out of your pocket. These are highly sophisticated cars, and a lot of expensive items are so specific that they will never show up on some generic list of covered parts.
#5
Instructor
As long as you can get an exclusionary warranty (like the Fid Pt) don't even think about any other type. The exclusionary warranties give you a small list of items that are not covered, and everything not on that list is covered. Other types give you a long list of items that are covered, but if it's not on that list you're going to pay out of your pocket. These are highly sophisticated cars, and a lot of expensive items are so specific that they will never show up on some generic list of covered parts.
#6
Instructor
I called Fidelity and requested as many dealers in my area (and beyond) who sell their product. A call to each revealed a surprising $2K price differential for the same product. And don't be afraid to negotiate and/or buy from a different dealer/manufacturer - a FWS warranty is the same no matter where you buy from. I purchased a FWS Platinum from a local Kia dealer for $2K less than what the VW/Audi wanted.
One bothersome clause with the FWS Platinum over a comparable Warranty Direct plan is damage resulting from overheating. I read somewhere that a claim was denied due to overheating even though there was no evidence of it. But the lowest FWS quote was $2.8K less than Warranty Direct's exclusionary plan. One can go bonkers shopping for these products; trying to plan for any/all possibilities. But it's insurance and one has to guage their own comfort level vs. price point.
One bothersome clause with the FWS Platinum over a comparable Warranty Direct plan is damage resulting from overheating. I read somewhere that a claim was denied due to overheating even though there was no evidence of it. But the lowest FWS quote was $2.8K less than Warranty Direct's exclusionary plan. One can go bonkers shopping for these products; trying to plan for any/all possibilities. But it's insurance and one has to guage their own comfort level vs. price point.
#7
Rennlist Member
I have a Fidelity Platinum warranty. The mileage and years start from the day you buy the contract. So if you buy a 4 year 50K product, it is 4 years from the date you purchase the contract and add 50K to your odometer from when your contract goes into effect.
And I completely agree with the comment to shop around. Mine was purchased from a Honda dealer! Because I had less than 10K miles on my 2008 C2S when I purchased it (car was 3 years old), I was able to buy a 7 year / 70K Platinum policy with $100 deductible for $2,300. Great value because of the low mileage at time of purchase. If I was over 10K miles, it would have added another $2K+.
And I completely agree with the comment to shop around. Mine was purchased from a Honda dealer! Because I had less than 10K miles on my 2008 C2S when I purchased it (car was 3 years old), I was able to buy a 7 year / 70K Platinum policy with $100 deductible for $2,300. Great value because of the low mileage at time of purchase. If I was over 10K miles, it would have added another $2K+.
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#9
Nordschleife Master
I did the same thing. Not a 2k difference in my town but 1k difference from high to low. A Jaguar/Lexus dealer offered an alternative with a Lexus/Toyota underwritten policy. Half the cost of the Fidelity platinum plan with the same coverage and zero deductible. At least that's the sales pitch. A brochure is in the mail and I'll read every word in it along with some google work. Anyone heard of the Lexus/Toyota extended warranty program for Porsche? 3 years and 36,000 miles with zero deductible is $2,500. 4 years and 48,000 miles is $3,200. That's for an -09 C4S with 18,300 miles.
#10
I did the same thing. Not a 2k difference in my town but 1k difference from high to low. A Jaguar/Lexus dealer offered an alternative with a Lexus/Toyota underwritten policy. Half the cost of the Fidelity platinum plan with the same coverage and zero deductible. At least that's the sales pitch. A brochure is in the mail and I'll read every word in it along with some google work. Anyone heard of the Lexus/Toyota extended warranty program for Porsche? 3 years and 36,000 miles with zero deductible is $2,500. 4 years and 48,000 miles is $3,200. That's for an -09 C4S with 18,300 miles.
#11
I did the same thing. Not a 2k difference in my town but 1k difference from high to low. A Jaguar/Lexus dealer offered an alternative with a Lexus/Toyota underwritten policy. Half the cost of the Fidelity platinum plan with the same coverage and zero deductible. At least that's the sales pitch. A brochure is in the mail and I'll read every word in it along with some google work. Anyone heard of the Lexus/Toyota extended warranty program for Porsche? 3 years and 36,000 miles with zero deductible is $2,500. 4 years and 48,000 miles is $3,200. That's for an -09 C4S with 18,300 miles.
#12
Racer
I bought the Gold Care warranty from the local Porsche dealer although I did not buy the car from them. The warranty for my 2005 non S with 38,000 miles cost me just under $5,000 for 4 years/ 50,000 additional miles and is supposed to cover everything according to the contract. There is a $500 deductible, with a $0 deductible for wheels and tires. This warranty came highly recommended from others who had used it that I spoke to.
#13
Rennlist Member
An interesting test of coverage.
Inquire if the TPMS on your Carrera is covered. The self contained battery has a limited life (about 5-7 yrs) and the Porsche dealer will charge $1k to replace all four.
The CPO coverage does not cover it. But Fidelity Platinum coverage does. I was impressed.
Inquire if the TPMS on your Carrera is covered. The self contained battery has a limited life (about 5-7 yrs) and the Porsche dealer will charge $1k to replace all four.
The CPO coverage does not cover it. But Fidelity Platinum coverage does. I was impressed.
#14
Nordschleife Master
Did you get the Lexus warranty? I just bought a '06 C2S Cab (also with 18,000 miles) and the Porsche dealer is strongly recommending the Lexus warranty (one of the many car maunufactureres they sell). I can get 5 years, 60K miles, for $3,600. They Porsche service guys claim the Lexus warranty is top notch, pays their full tech labor charges, no hassles with claims, etc. Anyone else have experience with this product?
#15
If you search this forum for "Fidelity" you'll find another member, I forget who at the moment, who had a motor blow and went through all sorts of crap with them. Specifically, I think the problem was that they were looking to replace his motor with a rebuilt motor rather than a new one. I guess the fine print allows this.
Anyways, I didn't buy the warranty myself; it came with the car. If offered the warranty, I'd have to think long and hard about it at that price.
Jason