I have a 2006 997 C4S at 29K with 2 months left on CPO warrranty. It's my daily drive, and I probably can't afford to pay for major repairs.

Anything I should do before my warranty expires?

Any recommendation on extended warranty?

 

Suggest calling the dealers around your area and getting quotes. I have Fidelity which was rated well and recommended by a few dealerships. I was able to negotiate it down as well. Good luck and keep us posted.

 

Look into Costco. Google "costco VPP". They sell a bumper to bumper exclusionary warranty that seems pretty good on paper. The price is non-negotiable. I'm still searching for a car, but will probably go with them if I don't go with a CPO.

 

The extended warranties wouldn't exist if the insurance companies weren't able to calculate that the odds of paying out for a major repair were minimal. I've had my 997 for two years and my maintenance and repair costs have been less than $400, although I voluntarily did the LN Engineering IMS upgrade for peace of mind.

 

Thanks everyone! I am going to check with both my dealership, and the Costco Plan. My wife works for Costco, so sure if that helps??

 

These topics come up alot,, but you said it ALL. " I probably can t afford to pay for majors repairs"... That suggest that an extended warrenty is good insurance and peace of mind for you. I d shop around for the best warrenty for the money, which you are doing. For some one who could(not want ) pay large repairs , it makes the call a tougher one.

 

Cerbomark, I respectfully disagree. Yes, the OP said he "probably can't afford to pay for major repairs." But my point is that the ODDS are he will never have to, or else insurance companies couldn't afford to offer extended warranties in the first place.

Here's what Consumer Reports says on the subject:

Most of the time, these plans are a losing bet. A Consumers Union survey conducted in December 2007 proves this point. We polled 8,000 owners of five- and six-year-old vehicles that had been covered by extended service plans. Here are some key findings:

• Sixty-five percent of those surveyed said they spent significantly (emphasis added) more for the contract than they got back in repair-cost savings. Respondents said their extended warranty cost them $1,000 on average while providing an average benefit of $700. That means the average loss was $300. A big reason: 42 percent of extended warranties in our survey were never used, in most cases because the vehicle didn’t need repairs or the standard manufacturer’s warranty sufficed.
• Only about one in five respondents said they had a net savings. In general, extended warranties were a better deal for those who bought more troublesome cars, those scoring lower in our reliability Ratings. When we looked at net costs by car make, only owners of Pontiacs and Jeeps broke even, because on average they had covered repairs that equaled the warranty cost. Other reasons to look askance at extended warranties include these considerations:
• Many consumers consider extended warranties as insurance, but in most states they legally are not. That is, they’re not covered by insurance-type regulations. That means that buyers of extended service contracts in states that don’t consider them to be insurance don’t enjoy the same regulatory safe-guards that they get from, say, auto insurance whose price must bear a reasonable relationship to cost.
• High commissions. Since extended service contract pricing is not regulated, dealers charge whatever the market will bear, and a 50 percent cut for sales commissions is not unusual. By contrast, only 17 percent of your annual premium for auto insurance goes to commissions and other selling expenses.
• Many brochures we reviewed tend to wax eloquent about “comprehensive” coverage for hundreds of parts and other benefits. But they usually don’t say much about numerous exclusions and limitations. To learn that, you need to delve deep into the contract language. For instance, if the failure of a non-covered part causes damage to a covered part, then you may be out of luck. For example, if the timing belt was not covered and it fails, resulting in a badly damaged engine which supposedly was covered, then you could be on the hook for the entire engine-repair cost as well as the timing belt.

Sure, you'll always have the exception to the rule, but the odds are his car isn't going to need any "major repairs." I note that Edmunds.com ranks the OP's vehicle's overall reliability as 5 stars out of 5. IMO, he'd be better off saving the annual premium of an extended warranty to offset the cost of any minor repairs (if necessary) and if no repairs are necessary he has that money in his nest egg.

 

Taxi,,, you are correct in the fact that the insurance co, make money because of the odds . And I rather hold my own money,,, but for someone who just doesn t have the funds at this time it may be a safe play to have the insurance and a fixed cost. So I think we agree, I m just saying because of the OPs statement.

 

I guess time will tell whether or not the OP needed an extended warranty. Thanks for not taking my posts personally. I was just trying to offer an opposing view to the conventional wisdom.