Thanks. Does the price go up every year or only when original warranty is up?

 

Say No to the warranty. Use the savings to tip your service advisor, shop manager and mechanics. You will get more in return that way. Always do all 3. Those guys can get real nice with some double digit gift cards. Just establish that relationship before you have a major problem.

 

It will go up if you don't buy it the first year, inflation. But, once you buy it, it's for the period of time that is covers. They don't charge by the year like insurance will. It's a one time purchase.

Leasing or planning on upgrading a few years down the road, then it may not be worth it. Want to hold into to it or do some driving beyond the initial 50k miles, then it's something to consider. I am already thinking about it. Having to possibly pay for a new transmission is not what I want to think about. Doing it under an extended warranty lessens the pain greatly.

 

Well. For me, it was an easy choice. I just decided to shop around first. Since I'm going to keep my car for > 4 years and I'm not planning on going over 5k/year...it was worth it for the extra 3 years piece of mine. If that PDK blows on year 5, I should be covered and not need to pay for a new one which is big $$$$

 

Just keep in mind as you near the end of the 3rd party warranty, they would rather deny, cancel and give you a pro-rate refund than pay a big repair. They use a million excuses to deny/ cancel. Your car needs to stay 100% stock to the tires and air pressure to even have a chance of coverage.

Best bet is to bank the warranty money and negotiate your own repairs.
Parts at cost +15 and work labor down as much as you can.

 

They won't be so nice once your 4 year warranty is up even if you have a good relationship. They aren't gonna pay for anything once that warranty is up. Bad advice.

 

They can discount you and with 3K in pocket you will most likely come out ahead.
3rd party warranty is not a good investment.

If you want to make a 3rd party warranty company more profitable, go ahead.
Just dont expect real coverage like the original warranty.

 

If you are really worried, and I dont blame you for that, work a CPO deal thru your dealer. Car has to get resold to you (or wife) but then you get a real warranty.

 

I've always hated the idea of paying upfront for an extended warranty. I did it on a Boxster, a Cayman S and two Audi's. But in the end it has ALWAYS paid for itself. Never a regret.

The most expensive warranty cost was for my '07 Cayman S which I got just before the OEM 4 year warranty expired. It was a 2-year extension but I only used one year of it. I transferred the warranty to the new buyer and priced the car to cover my costs. It also made the used car sale VERY easy and desirable.

I've always used Fidelity, btw.

 

I didn't know you can negotiate the price of out of warranty repairs. Do you have any experience with Porsche dealers?

 

Over the course of the extended warranty period you can EASILY blow way past $3000 in repairs! Been there, done that! The last 3 out of 4 cars I had incurred repairs that exceeded the warranty cost over the time period. I used the warranty for everything from squeaks and rattles to broken trim to major electrical and mechanical fixes. And sorry to belabor the point, but I have never had Fidelity turn down anything in all the cars I have used it on. The coverage from Porsche (or Audi) warranty to Fidelity has been seamless.

Insurance is ALWAYS a gamble playing the odds. If you never have any problems then you've wasted your money. But as complicated and expensive as cars are nowadays the odds are tipped more in our favor. Especially on cars costing north of $100 grand. I've "beat the house" every time so far.

I guess my point is that blanket statements about the evils of extended warranties are not valid. Sometimes they save your butt.

 

Put the money in a 4 year certificate of deposit (timed to come due when the factory warranty expires). After the car is 7 years old take the money (which you probably will not need for extraordinary expenses) and use it for a vacation.

I purchased the wheel and tire insurance which already paid for itself double the amount of the insurance.

Don't waste your money on extended warranty insurance. It's a sucker's bet unless your throttle foot is made of lead and you never could avoid the temptation to speed to a red traffic light. If you are good to the car, treat it with respect and do not abuse it, it's going to last. If you drive it like you stole it, it's not.

 

Are you referring to those


.05% 4 year CDs. That really works....

 

Or they can save half by flushing half down the toilet and keeping the rest.

 

I'm glad to hear some people are doing well on 3rd party warranties.
For the record I strongly support Manufacturers Extended Warranties.
I have a 7Y/135K on my AMG (through Mercedes).
If Porsche had their own Extended Warranty I would get it in a heartbeat.

I know the 3rd party companies play the odds to make money where a manufacturer just wants to sell cars, earn repeat business and support their products.
It's an entirely different motivation.
My 3rd party warranty experience was not so good.

As for negotiating out of warranty repairs, I have not tried this at a Porsche dealer yet, because I am still in warranty.
However, big repairs is business that dealers want, so they will most likely negotiate.
If you befriended a manager and SA in advance, you will have an even easier time.

I start out with the parts prices, pointing out I can buy them online for about 1/2 what they want to charge.
They threaten with not warrantying the work, if I supply the parts, but can be talked into nearly matching the online parts prices, since it's still cost +15 for them.
As for the labor, they are more sensitive on that.
You can just ask about what the warranty rate is and accept that.
Warranty companies negotiate costs, just like insurance companies do with body shops.
You can save a good bit this way.

Dealers have always gone above and beyond for me in return for some gifts that I say are fringe benefits of my business.
They always seem so appreciative.
I guess most people just go in demanding free service because they have a warranty.
I just get more satisfaction out of helping out the service staff than buying into a 3rd party warranty with impossible to understand exclusions.