Warranty - Florida

[TerryT]

Hi,
I was quoted $4700 for a 2 year warranty on my 2001 Boxster... is this reasonable ? Are there better options out there ?
Thanks
TerryT

[Burg Boxster]

$4,700 - LOL - That's 30-50% of the book value of the car depending on resource.

That's not really the quote now is it? IMNSHO, put the $4,700 into any type of investment vehicle and keep as a rainy day fund. Or, send me the $4,700 and when you file a claim w/ me I'll tell you no, too! Just kidding Seriously though, there is great probability you won't spend anywhere near that in repairs over the next 24 months. In the 5 years I owned my Boxster I spent $0 in repairs outside wear and tear (which wouldn't be covered either). In the three (?) years w/ my 997S, I've spent $0 as well - I did have 2 substantive claims (condensor & fuel pump) and 2 minor ones (trim pieces & radio knobs) which PCNA covered and even they were < $2000 combined.

Aftermarket warranties, especially on an 11yr old vehicle, are really only good for generating profits for seller of the warranty and warranty "backer" (who you hope stays open long enough to at least file a claim against should one arise).

Good luck

[TerryT]

Thanks Burg, I did feel it was way too much.
I'm going to 'wing it' and report back in 2 years

[Brockmeister]

In july, I was offered a 3 year warranty for 1500. I think they are trying to hose you.

[TerryT]

Do you remember the name of the company?

[Brockmeister]

No. It was at the Porsche Dealer in Vienna, Va. They were offering it as an option. I just said no and that was it.

[DenverSteve]

It depends on your mileage. I have a policy that gives me, on my 2002 S w/ 40,000 miles, a 5 year, 100,000 additional mileage policy for $2,600. Your quote may differ. I got my policy - after speaking with most available company's - from Direct Buy Warranty. It's their Platinum Plan. With zero deductible.

My agent has helped several forum members get a comparable policy. You can see their policy, essentially a comprehensive policy with a few exclusions here: https://www.directbuywarranty.com/pd..._agreement.pdf

Then if you're interested in a quote my agent is: Adam DAvis, at 1-888-865-4484, ext. 8819. Obviously, but I'll say it anyway, I have no connection (other than being a customer), no interest or association with Direct Buy Warranty. For what it's worth, you can tell him I told you to call. He'll do what he can to get you a great policy. That said, you have to do your part. You, of course, have to maintain the vehicle per factory maintenance schedules to maintain your coverage. Just like with the new-car original warranty. Happy shopping.

[TerryT]

Thanks Steve, your reply was exactly what I was hoping for.

A company name, a contact and personal experience ... with a reasonable price.

Cheers
TerryT

[TerryT]

Stumped! Direct Buy Warranty does not service Florida...

[DenverSteve]

I can't say if they do or don't. Check with Adam during business hours and he'll know what's up.

[Soetekouw]

When I bought my new 2007 Boxster S, I also bought a $2500 Policy from Warranty Direct (6 yrs/100,000 miles). Just now, in my 5th year, I am filing my first claim; a $1500 repair bill (window regulator, door lock, and top adjustment). Direct Warranty will be paying $800 (and I pay the other $700). Reason: Porsche dealership service prices are much higher than what is normally charged for similar labor somewhere else. Direct Warranty will only pay the industry 'average' of similar service charges. Although, this is probably fair, it was a shocker, since I thought my 'complete' extended warranty would cover the entire bill. Well, either way, at least I am getting some of my $2500 back, but I doubt I'll recover the entire amount over the next year.

Bottom line: the extended warranty does give me some peace of mind. But next time, as Burg Boxster stated, I will take the $2500 and self insure myself by setting up my own warranty fund. (and I would never pay $4700 for any warranty plan on a car that is only worth $10K-$15K).

[recycledsixtie]

When you come to claim is when the true colors come out of a Porsche extended warranty. You invariably get less than you figured in the first place. As the posters state above put the $ that u would have put into the extended warranty into a separate bank account for rainy day repairs. These warranty co's are smarter than the average joe and are guaranteed to make $$$ for themselves. I go it alone. :dance:That's what I do anyway.

[Perfectlap]

Factory warranties are the only warranties worth considering.

Third party warranties whip up contract language that requires you to hit every single service item without fail or they will blame each big repair on your "negligence". They will probably pay for the little items without much whining but when you compare your costs of the required maintenance (no DIY) and the cost basis of the contract, they still make out.

The other issue is that long term maintenance not covered under the warranty for any Porsche is very expensive. You can easily spend $10K on shocks, control arms, clutch/IMS, braking, cats, 02 sensors, some body work, maybe a new softop. You are better off putting away some money each month to address those issues piecemeal. If you avoid doing any of these things don't expect your car to sell for much.

[TerryT]

Well I just went and did it! I got a 5 year / 100 000 Mile extended warranty and I think it was quite a good deal. I hear everyone's points of view... I really do.... but somehow this has given me a great sense of comfort. Reading about IMS and RMS and all that.... and with my car having 101000 miles on it already.

I read online and confirmed with the company that they will do everything in the '10 points to consider when buying a warranty'.

Auto Warranty Buyer's Guide | Extended Auto Warranty Companies


I like knowing that the car is 'sort of / kind of' covered and I can mention the warranty if I want to sell it in the next 5 years.

Thanks
Terry

**Let the flogging begin!

[jdiba]

Did you go with the Warranty Direct that Denver Steve was recommending ?

[Perfectlap]

Originally Posted by TerryT

Well I just went and did it! I got a 5 year / 100 000 Mile extended warranty and I think it was quite a good deal. I hear everyone's points of view... I really do.... but somehow this has given me a great sense of comfort. Reading about IMS and RMS and all that.... and with my car having 101000 miles on it already.

I read online and confirmed with the company that they will do everything in the '10 points to consider when buying a warranty'.

Auto Warranty Buyer's Guide | Extended Auto Warranty Companies


I like knowing that the car is 'sort of / kind of' covered and I can mention the warranty if I want to sell it in the next 5 years.

Thanks
Terry

**Let the flogging begin!

please say you paid in installments. I bought one of these. They denied a $4 parking brake switch claim, well $104 with labor. I stopped sending further payments and they rescinded the contract. Had I payed it all up front it would have been a real problem getting back a refund. As it turned out I only had one other reapair (new throttle body) to make over the next six years. But the last few years have been a different story altogether. So I'm glad I didn't use my savings for the warranty.

[jdiba]

Perfectlap, I had bought one thru the dealer with Fidelity Warranty Services after my CPO ran
out. I did exactly what you did. Paid via installments. I scraped up the money to do the IMS
and just canceled it. I actually got a refund for the payments I made. I probably would get
another one when I can afford the payments, but can't right now. I waffle on it though. There
are so many negative opinions about coverages....will have to give it some thought. Pointless
at the moment cuz I ain't got the scratch $$$

[Perfectlap]

Did you ask Fidelity Warranty specifically about an IMS failure? When i spoke to Warranty Direct they said they were well aware of the problem and would not cover it. Then they stopped covering Boxster/996 altogether due to the issue. I think one forum member here had to take them to Court over it and it was a real long fight.

p.s.
I once talked to one warranty company after they sent me the list of things they covered. It was so long but confusing at the same time. I basically said, "okay how about you tell me the major items that you DON'T cover?". Silence and then audible head-scratching.

[TerryT]

Hi, I am using AWA.. and am paying installments.

This is what is covered.

Engine: Cylinder block and cylinder heads and all internally lubricated parts; turbocharger; supercharger; harmonic balancer; timing gear, chain and belt; and water pump. Seals and gaskets.
Transmission: Transmission case and all internally lubricated parts; torque converter; flywheel/flex plate; and vacuum modulator. Seals and gaskets.

Driver Axle(s): Drive axle housing and all internally lubricated parts; locking hubs; drive shafts; universal joints; and constant velocity joints Seals and gaskets.
Transfer Case: Transfer case and all internally Lubricated Parts. Seals and gaskets.

Air Conditioning/Heating: Condenser; compressor; compressor clutch; and evaporator. Accumulator; dryer; expansion valve; condensor fan; and condensor fan motor.

Electrical: Alternator/generator; A/C blower motor; starter motor; starter solenoid; and starter drive. Horns; windshield wiper motors; windshield washer pump; power antenna motor; power window motors; window
regulators; power door lock actuators; power trunk release; and all manually operated switches..

Fuel System: Fuel delivery pump; fuel injection pump; metal fuel lines; fuel pressure regulator; fuel sending unit; and fuel gauge.
Cooling System: Cooling fan; cooling fan motor; and fan clutch.

[jdiba]

what type of coverage ? Mechanical failure/breakdown ? Does it include Wear and Tear ?