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Old 02-01-2015, 04:31 AM   #1
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Question Extended Warranty or Warranties which is best?

I just purchased a 2013 S with a PDK and only 1,200 miles on it so it was not even broken in. I have the remainder of 3 years on the Porsche warranty, but I am looking at purchasing an extended warranty to add an additional 4 years on. I have researched all to include:
Mercury, Warranty Direct, Fidelity, Endurance, etc.
So far only Endurance looks acceptable. I understand that from reading many different forums to include Porsche and BMW, most extended warranties come with their horror stories and the battles they have fighting with these companies. Endurance seems to have the best coverage for the price, but it does comes with stipulation they can use OEM, non-OEM or used parts.

Does anyone (not to include sellers of warranties) recommend any of these or others?

Thanks!

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Old 02-01-2015, 06:17 AM   #2
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One of the main points to consider is typically in the fine print "pre existing conditions" and what they define as a condition. When the original warranty ends and the new one begins the company has a time period where they can determine something was a carry over and they will deny the coverage. Find out what the time limit is and read the fine print very carefully and ask a lot of questions.
Beautiful car by the way.
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Old 02-02-2015, 01:38 PM   #3
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Cool Extended Warranty

Luv2Box, thanks for the info.

For the rest, I went with IWS via AAA as their coverage, cost, no deductible, rating and recommendation from the local Porsche repair shop Renn Haus in Sarasota made the decision easier.
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Old 02-02-2015, 02:54 PM   #4
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Make every effort to extend the warranty with the factory/dealer.

The fine print on the third party warranties typically requires that all maintenance and service be STRICTLY followed on time, by a 'certified' shop. No DIY anything like oil changes, air filters, etc. If you do not follow the service guidelines strictly, and should there be a major engine repair needed, their lawyers will read you the riot act.
From what I understand, dealerships are often eager to extend the warranty on low mileage cars as they see it as money in the bank. In the first 70k miles of my car's ownership, I had exactly one unexpected repair costing more than $300 and that was at the dealer rate (an indy would have done it for half). I had a third party warranty (something affiliated with CarFax) and after only a few months they denied my first claim of $100 for parking brake switch diagnosis and repair. Big mistake on their end because I was paying them in low monthly installments so I simply stopped paying and they canceled the contract which saved my about $4K if memory serves. NEVER pay for the warranty in one lump sum. $4K that went towards the new clutch/ flywheel/ Shocks/ Starter/ Alternator/ MAF/ AOS/ Water pump/ coolant tank/ O2s/ cats/ new headers and exhaust/ wheel bearings/ you know.... "major maintenance" a.k.a. wear items often not covered but can easily exceed the car's resale value.

p.s.
"non-OEM" parts in an expensive car? What's that? Control arms from Ebay that last 2k miles?
p.p.s.
my suggestion, invest whatever you were going to spend on that warranty in an index fund for Energy (OIH ) now that oil prices are low and probably going lower. By the time your 3rd party warranty expires, I'm guessing oil prices will be twice what they are now (at least). Maybe split it 50/50 with an IT index fund (VGT) from Vanguard too. Or stick the money under the mattress. That's what I think about the value of a non-factory warranty.
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Last edited by Perfectlap; 02-02-2015 at 03:08 PM.
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Old 02-02-2015, 03:38 PM   #5
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Doug demuro seems to have found quite the quality warranty from car max. Of course you have to over pay for the car in the first place, but could really benefit you in the end.
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