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Old 07-04-2009, 07:41 PM   #1
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Used car extended warranty

Any one know if there is such a thing as an extended warranty with a company for a porsche. My car has about 110k miles and is a 2000 boxster s. I have a feeling I will have some problems in the future and want to be covered. Do such companies exist and if so, what are good ones?

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Old 07-05-2009, 05:05 AM   #2
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Wait till you see the cost

and consider the policies are designed to pay out at a ~20% of premiums paid according to sources like Consumer Reports.

So why would you pay all the profits and overheads and sales expenses associated with an Extended Warranty..aren't the odds worse than Vegas? Put the same amount of money in a conservative investment and draw on that fund as needed.

And where would you find a reputable company that would insure a car that old with that many miles? I used to say the only one I knew was Warranty Direct but have heard recent stories that tell me that they are not living up to their agreements without lawyers having to get involved.

More here
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Old 07-05-2009, 08:21 AM   #3
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What if I want to have my tranny rebuilt? And just pay for an extended warranty rather than the rebuild. I figure that way I can get the rebuild plus everything else the warranty covers. Thats already 3k right there. Sounds like a good investment to me.
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Old 07-05-2009, 08:27 AM   #4
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Extended warranty = Waste of money................period.
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Old 07-05-2009, 11:43 AM   #5
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I appreciate the feedback, but I just don't understand something. If I were to say, for sure, rebuild my tranny down the road (few months). How is it not beneficial to get a warranty now to pay for the 3k work if the warranty itself is around that price?
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Old 07-05-2009, 01:12 PM   #6
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You assume

that you can get the warranty for that much
and
you assume that they will agree that it needs to be done.

The warranty companies don't make money by doing what you want them to do.
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Old 07-05-2009, 02:16 PM   #7
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The warranty includes wear and tear. My transmission does have minor grinding problems now and I suspect it will get worse soon. So I'm not actually assuming they will cover this because that is what they advertise. I will contact them via phone next week and talk to someone in person though since I do not know the price involved with this type of warranty. This is the company I am thinking about.

http://www.autoprotection.com/factory/Porsche/

They have 4 tiers going from complete to minimal. I will compare the prices and see how much money I'm actually dealing with.
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Old 07-06-2009, 05:28 AM   #8
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Quote:
Originally Posted by Viper5
I appreciate the feedback, but I just don't understand something. If I were to say, for sure, rebuild my tranny down the road (few months). How is it not beneficial to get a warranty now to pay for the 3k work if the warranty itself is around that price?
Due to the number of horror stories I am directly aware of where car owners spent thousands for this nonsense, and then when they had a legitimate claim, the warranty company weaseled out under "abuse, abnormal usage, pre-existing condition" and similar terms in the contract. These contracts vary between total fraud to being designed only to make money for the issuing company; you’d be better off putting the cash in a conservative investment as a hedge to pay for future maintenance.

And as for “being smart enough to buy a policy to fix your grinding gear box”, I’m not even going to comment…………………
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Old 07-06-2009, 08:09 AM   #9
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Viper-

on your car - with your miles - any REAL warranty is going to cost you a TON. think $5000-7500+.

you get what you pay for. These companies don't stay in business by taking a couple grand from you, then turning around and paying out three times that in expenses. They are going to assess what they are going to pay - and then charge you MORE. if they are charging you a fee that seems "too good to be true" - it is - it means they won't be paying on your future claims and they now it.

I checked into warranties when I bought my car. My car is a 2000 base and it had about 74k when I bought it. the local dealer told me they only sell ONE brand of warranty and nothing else. they are legit - they pay out. I could go into details if you want..but for the sake of argument - this warranty company doesn't nickel and dime you or wesael out of paying. if something goes wrong - they pay.

on my car, for 3 yrs of coverage or up to 100k miles - it was going to cost $5000.

so 25000 more miles of coverage and they wante $5000.

if my car had only had 20k miles or less, the same coverage was only $1800 or so.

your car is going to cost a lot to insure. forget it. just save your money and fix stuff along the way.

just my suggestion. I looked into the warranty, and like you, wanted peace of mind, and ultimately learned that the peace of mind was just too $$$$ and not worth it - not on an older car where they want to rape you on the price of the coverage.

if you truly want peace of mind and get more for your money - instead of psending $5000 to some warranty company - sell your car, and roll that $5000 into a newer CPO car from a dealer. you then put that money to work for you by getting a newer/faster/better Boxster AND you get a warranty too.

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