[mikefocke]

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