Extended Warranty

NJkayaker, if you decide to get the power train warranty product, first request a copy of the contract, and read it front-to-back and clearly understand what is and what is not covered. Then make your final decision.

[turbo23dog]

NJKAYAKER,


Can you provide a link to this 5 year $700 power train warranty so we can all see what it says?

[tboyer]

IMO, anything outside of the new vehicle warranty is not worth it. If it makes u feel better to preventively replace the RMS, then do it. Take the rest of your money and put it in an ING account that earns 3+ percent. The way I think about it is this way, if I was to lose my engine, for example, parting out my busted car afterwards should earn me enough to buy another. There is tens of thousands of dollars worth of parts in our cars, think about it if you were selling rims, fenders, litronics, seats, electronics, plastic console parts, etc, our Boxster's are worth more apart than together! I have a good friend who buys old 737s from the majors, takes 'em apart and makes sometimes 10 times what he paid for the plane put together.

Just go out and drive your box like it was your last day here, enjoy it!

[NJkayaker]

The link is at the bottom of the original post. For 5 years of engine/transmission coverage it doesn'
t seem too bad. There are limits on payments per incident (they are in the actual contract. Over five years one $1500 incident pays for it. Thanks for all the feed back

[OldBlevins]

My take on extended warranties - or any other kind of insurance for that matter - starts from the obvious. The firms that sell them make money on them. That means the law of averages is that you'll pay more for the warranty than you'll collect in claims.

It makes perfect sense to buy warranties or insurance for things where the loss is great enough you simply couldn't cover it - liability insurance, homeowners insurance, etc.

All that to say, if you can afford to pay the $3K the powertrain insurance covers, you're better off not paying the $700. racer-d has it right, even though he was talking about the other insurance option. Just my $0.02