Question for all boxster owners who bought used... - 986 Forum - The Community for Porsche Boxster & Cayman Owners

mikes_box · 07-18-2008, 02:05 AM

how many of you guys bought an extended warranty either from dealer or 3rd party.... lastly how much? thanks.

vipola · 07-18-2008, 05:01 AM

I received a 3 month when I buyed my used 99 boxster from the dealer 1 year ago

didn't had any problem

rick3000 · 07-18-2008, 07:57 AM

I got a 3 year/36k mile warranty on my '99, last year when the car was 8 years old. It was just under $3k, and has covered everything. I got it through the dealer, not Porsche.
The only thing it hasn't covered were inevitable repairs. For example my drivers buckle went out, and the mechanic said the other one would be going soon. They won't cover it until it breaks. So if I catch an RMS leak, they won't repair it until the engine dies. Which sucks, but doesn't bother me as long as there paying.

23109VC · 07-18-2008, 09:33 AM

I'm curious about this issue as well. One thing I wonder about is whether it makes any difference if you buy the extended warranty on your own VS buying one directly through the dealer.

Maybe this is a BAD assumption - BUT, I would assume that if I went into a nice, reputable Porsche dealer, and said "hey, I just bought this 986 used via private party - and I would like to buy a warranty from YOU to cover it". They then are going to sell me a third party warranty - but given that THEY are in the car business - and deal with these warranty people on a somewhat regular basis - I would think that they would know the good ones vs the bad ones - and they would like to NOT sell customers crap - and therefore they would tend to only sell the more quality warranties.

I know warranty companies can vary in terms of their willingness to cover repairs - as evidenced by posts here on this forum where some companies have essentially found a way to NOT pay.

Is my assumption correct - if I buy an extended warranty AT Porsche...do I have any assurances that what I"m buying is going to be more reputable that some of the horror stories I have read on this forum about warranty direct or some other company that says "not covered" when the big ticket motor replacement comes?

One option for ME is to just buy CPO and get the full blown bumper to bumper from Porsche. but another option for used car buyers is to find the best deal you can swing on a private party sale - which might save you quite a bit of money over dealer retail - and then , as lng as the car is new enough, or still under factory warranty, then go purchase an extended warranty through Porsche.

my dad has a 2000 base, bought privately, then before his factory warranty expreid, he bought a warrnaty at the local porsche dealer. he paid something like 3k for 3 yr 36k...and he had his convertible top break - they paid for a brand new factory top. he complained about scratches on the full leather dash and they gave him a brand new dash - yeah. new dash. there were some other items...but they paid for all kinds of stuff..some of it almost seemed unnecessary...and they paid it. he never had the motor break. but the repairs he did get would have been in the thousands if it had come out of his own pocket.

i have no problem spending few grand for peace of mind - as long as what you get truly is "peace of mind" and a warranty that will stand behind you.

do the Porsche dealers tend to sell a GOOD warranty or is that NO promise that you won't get the shaft by the company if/when your motor goes and they are staring at a 10k bill??

chig · 07-18-2008, 09:54 AM

I bought an 03 boxster from a third party in Nov. 07. I was told to get the Porsche warranty from Porsche and they were right. I bought a 3 yr/36K mil warranty (bought the with 31K miles on it). Since then, they have covered the following under warranty:

Xenon ballast and light on the driver side
RMS leak (they saw it when they were checking my clutch and replaced it for free)
window regulator
headlight housing starting to leak
loose parking brake lever

These items would have cost me way more than the 3K I paid for this warranty. My friend had a 02 986 and got the Continental Warranty from the web...saved about 1K from the dealer warranty but when he brought it in to get fixed, they didn't cover anything (this was in Houston). The third party warranty was worthless. Also, he try to cancel it and get a the Porsche warranty instead and they gave him the hardest time about canceling it.

The only thing they won't cover is the top. Things like cuts, tears, wore top, etc. Hope I helped. I recommend getting the OEM Porsche warranty from the dealer. It's worth paying the extra 800 dollars to 1K and not worry whether they'll repair your car.

mikefocke · 07-18-2008, 10:22 AM

is like going to the casino.

A few will win, a very few will win big.

Most by far will lose.

The casino will make a lot of money.

Consider that the warranty company pays out less than a third of the cost of the warranty they sell in actual repair costs. So you are paying huge sales commissions, overhead and profits.

I know of no Porsche warranty sold by a dealer that is backed by Porsche itself (other than CPO). So I doubt the posting above which said he bought a Porsche warranty ... I think it just is a third party warranty sold by the Porsche dealer but administered by the third party.

And many companies put up a web site, sell at what seems like a good price and then go out of business. It matters who is backing the warranty because you want them to be there when you want to collect.

I just got a quote for $3600 for 13 months on an '01S with 52k miles that is driven 3-4k miles a year. It has cost me less than $20 per month in unscheduled maintenance over a 4 year period. When I bought the car, the seller offered to transfer her 3 year warranty for $3000. I declined. I'm way way ahead...as will most owners be. And some few, like the posters above will win the bet.

They couldn't afford to price the warranty so everyone would win or even if most would. They have to pay a few big claims, pay the selling salesperson, the selling dealer, pay administration costs and make a profit.

I never buy extended warranties. I'm many thousands ahead over a lifetime. (And yes I've paid to replaced a transmission and and engine, not in a Porsche).

Now if your risk tolerance isn't high and you'd rather pay the sure thing (even with it being a bad bet) then go ahead.

Read the Consumer Reports last auto issue on extended warranties. April 2008
Entitled "Extended Warranties: A high priced gamble".

Read the fine print of the actual contract (not the sales literature). Ask the service manager about the company (pay full labor rate, easy to deal with, etc) . Investigate the financial strength of the company backing the warranty. Read the fine print of the contract again. Ask for a discount, they can afford to give you one.

And see what discount the dealer gives to PCA members on service and parts.

IMHO, YMMV

rick3000 · 07-18-2008, 10:41 AM

I think Mike has a point, but with a car that costs so much to repair the warranty does pay for itself quickly. My warranty has already paid almost $5k, and I only paid $3k for the warranty. A warranty isn't worth it for a Honda that cost $1k to replace the engine, but when it cost $10k in a Porsche, I would say a warranty is definitely recommended.

That $5k covered a radio replacement, driver's buckle replacement, bent skid plate (not from me), and vacuum leak (also not me). And those are fairly common problems among Boxster's (except the bent plate) but cost a lot to repair.

Quickurt · 07-18-2008, 01:04 PM

I think this is a very simple decision tree.
If you can buy the car you want and be able to say damn it and write the check to repair/replace the stuff that go wrong, don't waste the possible loss of buying a warranty and then not needing it.
If the above sentence (run on as it may be!) will keep you from sleeping at night, buy the warranty or don't buy the car.
The worse possible scenario is one similar to what addictionracing went through, where he had the choice to spend more than he thought it was worth for a new engine, put in what he thought would be another bomb used engine or dump the car for what it was worth with no engine.

pbanders · 07-18-2008, 01:29 PM

It's all about risk tolerance, and perceived and monetary benefits, and your own ability to afford either a warranty or to pay for repairs. The answers will be different for everyone.

What I've observed with owners of "affordable" Porsches is that many buy the car without understanding that the cost of a repair on a cheaper Porsche is similar to the cost of the same repair on a high-end Porsche, since a large portion of the cost is in labor. Porsches and BMW's also have very high part costs, and often have a few chronic repair areas that affect many owners (for Boxsters: e.g., window regulators, leaky seals, coolant reservoir, MAF, RMS, etc...). Many people go in with the idea that they're going to DIY the repairs, and many are successful. However, many find it challenging, when they find out what's involved with doing some of the more complex repairs.

All of these factors figure in to whether or not someone wants to get an aftermarket warranty and how much they'll pay for it. For me, I was able to get good warranty coverage for duration I plan on owning the car for just under $2K. From my experience, if you drive a Porsche or a BMW about 5000 miles a year that's old enough to be out of factory warranty (probably with 35K+ miles), you can expect standard minor repairs will run you about $500 per year on the average, and you're likely to have something else that costs $1K and up fail over about a 4 year period. BMW example: my M3 has had emissions failures (secondary air valve and fan, fuel evap), door lock solenoids, air bag seat sensor, and "sticky 5th" tranny issues (to name a few) that happened out of warranty. BTW, I'm not including the repairs due to wear (e.g. rear suspension bushings and shock tower mounts, brakes/pads, etc.), nor the repairs for preventive maintenance (e.g. 70K mile replacement of radiator, hoses, water pump, and reservoir tank).

So far, my suspicions that the Boxster would have similar costs have held true. I had the RMS done just as my factory warranty expired, and under the new warranty, I've already had about $500 of repairs (window regulator, cam cover seal), so it's about on schedule. Even if I end up with $500 to $1000 left on the table when the warranty ends, I look at it as the cost of peace of mind knowing I was covered for major repairs and could drive the car hard without worry.

As for the difficulty of getting the warranty company to pay for major repairs, it's something I'm prepared to deal with. My Boxster isn't my only car, so I have no problem waiting them out. I also keep careful records and get service done on schedule and on time. Others may not want the hassle of this.

chig · 07-18-2008, 02:51 PM

Well, I should clear up the issue with my porsche. This is only 1 of my 3 vehicles that I own and it's just weekend car (4-5K miles per year). I got the warranty because 'pbanders' is right, the cost advantage of my having the warranty is worth it to me. I have a warranty on my Porsche and Lexus but not my Land Rover (I know, I must be out of my mind). The thing is, the rover is like a large Ford SUV, easy to work on (I use to work on Truimphs and have the a full British tool set). On the other hand, my Porsche and Lexus are way too complicated for even an immediate mechanically inclined person. It's not worth my time (time value of money vs. leisure time) to try to fix those cars so I just get the warranty on them. By the way, if you are indecisive on whether or not to get a Porsche warranty over a third party warranty just to save a few hundred dollars on your "porsche," you shouldn't own one. I'm not trying to be an a##, but the boxster, by far, is the least do-it-yourself car to work on and the parts are just as expensive as 993s (911). Also, it's where you live as well. In Austin, TX there are very few third party mechanics that will work on a boxsters or caymans. I kind of have to take it to the "only" porsche dealership in Austin...and if you have a warranty from the dealership as oppose to third party coverage, they seem to be more willing to cover the repairs under warranty. It has worked out for me.

leathers · 09-05-2008, 02:53 PM

RICK3000 - which warranty company do you have coverage with? I am researching who to buy from at the moment and a recommendation is always good.
Thanks

rick3000 · 09-05-2008, 02:57 PM

I got it through the dealer, and you have to have bought the car from them to get a warranty with them.

Rareair · 09-05-2008, 03:34 PM

I purchased my Boxster from CarMax in Feb '08. Car had 53k miles on it. According to the CarFax report, it was leased as a company vehicle. CarMax offered me an extended warranty for 36months at a cost of $1800. After reading the contact, I took it! The CarMax covereage is bumper-to-bumper on everything including drive train, electrical & mechanical.
Just last month the tachometer took a dive. Brought it to CarMax to have them check on it. They called me and told me that they'll be shipping the car to my local Porsche dealer (Pioneer Centers in Miramar) to get it repaired.
Got an entirely new gauge cluster installed (1927.89) What did it cost me? A measly $50 deduductible. The extended warranty definetly paid for itself one just my first problem.
Think of an extended warranty along this line: "It's better to have it & not need it, then to need it & not have it"

Labor amount: $218
Parts amount: $1584.12

Total: $1805.12
Tax: $122.77
Amount owed: 1927.89

What I paid: $50/deductible

leathers · 09-05-2008, 03:48 PM

I understand you got it from the dealer but the dealer doesn't underwrite the warranty they are just a broker for the insurance company. Do you know which company it is? Same with Carmax, which company do they use?

larryshomework · 09-05-2008, 04:00 PM

I bought a low-mileage (20K) 2002 from a BMW dealer out of town. I had it sent to a Porsche Dealer for a PPI (which it passed).

I bought a 4year/50K mile extended (bumper to bumper) warranty from the dealer for about $2000.

My reasoning was that this was my first Porsche and I was guarding against RMS, Intermediate Shaft issues. I haven't used it other than the Roadside Assistance.

The brand is EasyCare from APCO (I think it's a dealer only brand).

I've since paid for the car so it's nice to have - if I sell, I can get a pro-rated portion back.

Hope this helps.

rick3000 · 09-05-2008, 04:35 PM

leathers, Mine is through CarMax as well. They have there own warranty company, MaxCare or something like that. But you have to have bought the car from them.

racer_d · 09-05-2008, 06:58 PM

Quote:

Originally Posted by mikes_box

how many of you guys bought an extended warranty either from dealer or 3rd party.... lastly how much? thanks.

No warranty. "pocketed" the money they cost and "self warrantied" instead. 1 issue. Cost the same as a warranty. Therefore a wash on money.

Rareair · 09-05-2008, 07:44 PM

Quote:

Originally Posted by racer_d

No warranty. "pocketed" the money they cost and "self warrantied" instead. 1 issue. Cost the same as a warranty. Therefore a wash on money.

What about future issues/problems? Then you'll be in hole

Lil bastard · 09-05-2008, 08:29 PM

Quote:

Originally Posted by racer_d

No warranty. "pocketed" the money they cost and "self warrantied" instead. 1 issue. Cost the same as a warranty. Therefore a wash on money.

Ditto... bought mine new, added 'equivalent' amount to a CD... after Mfg. warranty expired, now have $6599 to add to any necessary repair.

Jacques79 · 09-06-2008, 09:27 PM

I have a CPO warranty and Porsche denied coverage for a front control arm.

Cost me 800$ with install from Porsche.

So be warned, even Porsche CPO is NOT ''bumper to bumper''.

Plus my radio isn't working right 50% of the time. (it shuts off and the buttons don't work) Porsche told me the radio (CDR-220) is, yet again, NOT covered under CPO warranty.

So yeah, be careful with warranties...