Did I do the right thing by buying a 7 year Western General Aftermarket warranty?
 

I have heard good things about them. They had a 5 year option for $3760 and the 7 year option for $6012. I opted for the 7 year one since I'm not planning on selling it for atleast 6 years. My car has 22k miles. They are raising their prices so I sort of bought in on it quickly without really thinking. But with all the talk about expensive parts and such, did I do the right thing?

I saw a study based on second party warranties and it turns out most of the time it ends up costing you more in the long run. Since most of these warranties the company pays for a portion of the bill(not all like a factory warranty) the cost does not balance itself out over the long hual. Say even if you need a new motor, don't expect because you paid 7k for a warranty that XYZ company is going to foot the bill entirely. These warranty companies are just like insurance companies, meaning, you usually pay more into than you recieve. With that said, I had an extended warranty on my TT for peace of mind and basically it was money down the drain.

IMO take that 7k and put it towards maintenance and stuff your car actually needs.

Also, if you mod the car the warranty is voided anyway. Keep the money in your pocket..............

When I bought my 930 I bought a warranty from "Ultimate Warranty" company. Cost me $2k and they paid out over $8k for work done. Needless to say worked out great and I came out $6k on top! This was on a 1980 modded 930 too.

Also be careful cuz not many authorized Porsche dealerships authorize aftermarket warranties.

are you sure Western General will even be around to honor any warranty? If I remember right they are very poorly rated and close to the brink.

where did you hear that?

If you drive the car a lot, it may need more repair which you can claim. If you only put 5-7k mi / yr, you may not break even. Typically, I find cars go through high repairs costs between 50-90k.

You'd definitely come out ahead if any major engine or tranny issues come up. This assumes that the warranty company still exists and they don't screw you.

IMO, It's best to buy cars with factory warranty remaining to sort out any issues and get to know your service dept. If I were buying a car without factory warranty, I would probly spend the money on a good inspection and skip warranties. I take great care of my car and I can fix most of issues short of major fixes costing over $2k which warranty probly won't cover anyways.

car is very reliable, especially if not tracked or modded, can expect countless miles of enjoyment. Would have kept all that $ for mods or repairs, waste of money IMHO, sorry

The devil is in the details. Read your coverage carefully, and check for any exclusions. The "mod" issue has already been raised, but check if there is a clause for routine maintenance. I've heard from a friend that an extended warranty claim was denied when he didn't have routine maintenance performed by the manufacturers authorized service tech. What if your car was totaled in a wreck, or perhaps stolen? In some states, extended warranties are refundable upon cancellation. You may get a pro-rated refund from the date of inception. IMHO, $6K is a lot of money for an extended warranty. If you decide to sell, is the warranty transferable?

yeah that's why I was adamant about getting the real Porsche extended warranty on a CPO car.. i heard enough "they didn't cover me" stories

yes, it is transferable. I'm just not much of a gambler and was really nervous especially since this is my first "expensive" car

yeah that's way too much $ for any warranty + they always try to weasel out of paying claims

girth, you did what makes you feel comfortable with you new toy. Now just relax and enjoy your car:D

thanks Tom.