warranty / extended warranty?

[SoCal]

Waiting for my 987, I realize I haven't investigated warranty options.

Since I plan to own the car indefinitely (10+ years at least), should I accept whatever extended warranty the dealer offers?

Any info would be appreciated.

[Brucelee]

IMHO, you should never "accept" anything your dealer offers. Did you do that on the price of the new car?

No, I didn't thin so.

You can and should, shop an extended warranty as rigorously as any purchase of this cost. The dealer is NOT offering you a Porsche warranty, but an aftermarket warranty of HIS choosing.

If you read the warranty threads here you can pick up some great info.

And congrats on your new Boxster!

Originally Posted by SoCal

Waiting for my 987, I realize I haven't investigated warranty options.

Since I plan to own the car indefinitely (10+ years at least), should I accept whatever extended warranty the dealer offers?

Any info would be appreciated.

[SoCal]

Originally Posted by Brucelee

The dealer is NOT offering you a Porsche warranty, but an aftermarket warranty of HIS choosing.

Didn't know that -- and assumed incorrectly that the manufacturer offered extended warranties. I have bought a half dozen new cars in my day, but never took more than the basic warranty provided by the manufacturer. Never owned such a high-performance car either.

P.S. Just went to WarrantyDirect.com and tried to get an Instant Quote. For some reason, among the P-cars covered they list MY05 Boxsters but do NOT list MY06 Boxsters. I'll have to call them to figure out why.

[SD987]

I've read good things about WarrantyDirect and due to limitations imposed by California's stringent insurance commission it seems our options for extended warranties are limited. SoCal, I am curious as to why you're purchasing your extended warranty on a 987 at this time? The warranty definitely needs to be purchased while the car is still under factory warranty, but I'm curious how much of a cost savings it is to purchase early on considering the "value of money" and other financial variables. Incidentally, if you purchase the extended warranty from Porsche at time of sale, it's going to be north of $4,000 on a 987.

Brucelee, I agree that it is misrepresentation the way dealer's don't mention that the extended warranty isn't being provided by the manufacturer. However, the only thing that I would recommend a person buy from a new-car dealer at time of purchase is "gap" insurance (unless it is a rider on your regular policy).

Please explain "gap insurance" again. Thanks.

[SD987]

Assuming you financed at least a portion of your car and are/will be "upside down" on your car at some point, the gap insurance covers the difference between what you are reimbursed for by your insurance company (in the event of a total loss) versus what you owe on the car.

[SoCal]

Originally Posted by SD987

SoCal, I am curious as to why you're purchasing your extended warranty on a 987 at this time? The warranty definitely needs to be purchased while the car is still under factory warranty, but I'm curious how much of a cost savings it is to purchase early on considering the "value of money" and other financial variables.

I don't know what I'm doing. My only saving grace is that I know I don't know enough to know what I'm doing.

I had assumed, for example -- and I'm just making this up for discussion purposes; I don't know what the factory warranty actually is -- that if the Porsche factory warranty was 4 years/50K miles, that I could purchase today an extended warranty for years 5-7 or miles 50,001-100K, for significantly less money than if I waited until the factory warranty was about to expire (and the car may by then have a history of problems).

If that's not true, then there may be not much reason to by an extended warranty now -- (except that the price increases in a few years might exceed the hypothetical interest on the money I would have spent now, which ultimately is speculative).

[idjiot]

I just bought a used boxster and it came with an extended warranty from WarrantyDirect. It's their California MBI policy which I believe is their highest level. The previous owner paid about $2400 for a 4 year 75,000 mile extended warranty that is "bumper-to-bumper" (you can read the exact details on the warrantydirect site) with zero deductible that started this year.

I have no idea whether or not that's a good deal but at least you can use it to compare whether or not you want to spend on the money on the extended warranty now as opposed to waiting till it's closer to the date when the factory warranty runs out.

My boxster is a 2001 and I believe the factory warranty would have run out in April of this year.

Hope that helps.