Question for all boxster owners who bought used...

[chig]

I bought an 03 boxster from a third party in Nov. 07. I was told to get the Porsche warranty from Porsche and they were right. I bought a 3 yr/36K mil warranty (bought the with 31K miles on it). Since then, they have covered the following under warranty:

Xenon ballast and light on the driver side
RMS leak (they saw it when they were checking my clutch and replaced it for free)
window regulator
headlight housing starting to leak
loose parking brake lever

These items would have cost me way more than the 3K I paid for this warranty. My friend had a 02 986 and got the Continental Warranty from the web...saved about 1K from the dealer warranty but when he brought it in to get fixed, they didn't cover anything (this was in Houston). The third party warranty was worthless. Also, he try to cancel it and get a the Porsche warranty instead and they gave him the hardest time about canceling it.

The only thing they won't cover is the top. Things like cuts, tears, wore top, etc. Hope I helped. I recommend getting the OEM Porsche warranty from the dealer. It's worth paying the extra 800 dollars to 1K and not worry whether they'll repair your car.

[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

[rick3000]

I think Mike has a point, but with a car that costs so much to repair the warranty does pay for itself quickly. My warranty has already paid almost $5k, and I only paid $3k for the warranty. A warranty isn't worth it for a Honda that cost $1k to replace the engine, but when it cost $10k in a Porsche, I would say a warranty is definitely recommended.

That $5k covered a radio replacement, driver's buckle replacement, bent skid plate (not from me), and vacuum leak (also not me). And those are fairly common problems among Boxster's (except the bent plate) but cost a lot to repair.

[Quickurt]

I think this is a very simple decision tree.
If you can buy the car you want and be able to say damn it and write the check to repair/replace the stuff that go wrong, don't waste the possible loss of buying a warranty and then not needing it.
If the above sentence (run on as it may be!) will keep you from sleeping at night, buy the warranty or don't buy the car.
The worse possible scenario is one similar to what addictionracing went through, where he had the choice to spend more than he thought it was worth for a new engine, put in what he thought would be another bomb used engine or dump the car for what it was worth with no engine.

[pbanders]

It's all about risk tolerance, and perceived and monetary benefits, and your own ability to afford either a warranty or to pay for repairs. The answers will be different for everyone.

What I've observed with owners of "affordable" Porsches is that many buy the car without understanding that the cost of a repair on a cheaper Porsche is similar to the cost of the same repair on a high-end Porsche, since a large portion of the cost is in labor. Porsches and BMW's also have very high part costs, and often have a few chronic repair areas that affect many owners (for Boxsters: e.g., window regulators, leaky seals, coolant reservoir, MAF, RMS, etc...). Many people go in with the idea that they're going to DIY the repairs, and many are successful. However, many find it challenging, when they find out what's involved with doing some of the more complex repairs.

All of these factors figure in to whether or not someone wants to get an aftermarket warranty and how much they'll pay for it. For me, I was able to get good warranty coverage for duration I plan on owning the car for just under $2K. From my experience, if you drive a Porsche or a BMW about 5000 miles a year that's old enough to be out of factory warranty (probably with 35K+ miles), you can expect standard minor repairs will run you about $500 per year on the average, and you're likely to have something else that costs $1K and up fail over about a 4 year period. BMW example: my M3 has had emissions failures (secondary air valve and fan, fuel evap), door lock solenoids, air bag seat sensor, and "sticky 5th" tranny issues (to name a few) that happened out of warranty. BTW, I'm not including the repairs due to wear (e.g. rear suspension bushings and shock tower mounts, brakes/pads, etc.), nor the repairs for preventive maintenance (e.g. 70K mile replacement of radiator, hoses, water pump, and reservoir tank).

So far, my suspicions that the Boxster would have similar costs have held true. I had the RMS done just as my factory warranty expired, and under the new warranty, I've already had about $500 of repairs (window regulator, cam cover seal), so it's about on schedule. Even if I end up with $500 to $1000 left on the table when the warranty ends, I look at it as the cost of peace of mind knowing I was covered for major repairs and could drive the car hard without worry.

As for the difficulty of getting the warranty company to pay for major repairs, it's something I'm prepared to deal with. My Boxster isn't my only car, so I have no problem waiting them out. I also keep careful records and get service done on schedule and on time. Others may not want the hassle of this.

[chig]

Well, I should clear up the issue with my porsche. This is only 1 of my 3 vehicles that I own and it's just weekend car (4-5K miles per year). I got the warranty because 'pbanders' is right, the cost advantage of my having the warranty is worth it to me. I have a warranty on my Porsche and Lexus but not my Land Rover (I know, I must be out of my mind). The thing is, the rover is like a large Ford SUV, easy to work on (I use to work on Truimphs and have the a full British tool set). On the other hand, my Porsche and Lexus are way too complicated for even an immediate mechanically inclined person. It's not worth my time (time value of money vs. leisure time) to try to fix those cars so I just get the warranty on them. By the way, if you are indecisive on whether or not to get a Porsche warranty over a third party warranty just to save a few hundred dollars on your "porsche," you shouldn't own one. I'm not trying to be an a##, but the boxster, by far, is the least do-it-yourself car to work on and the parts are just as expensive as 993s (911). Also, it's where you live as well. In Austin, TX there are very few third party mechanics that will work on a boxsters or caymans. I kind of have to take it to the "only" porsche dealership in Austin...and if you have a warranty from the dealership as oppose to third party coverage, they seem to be more willing to cover the repairs under warranty. It has worked out for me.

[leathers]

RICK3000 - which warranty company do you have coverage with? I am researching who to buy from at the moment and a recommendation is always good.
Thanks

[rick3000]

I got it through the dealer, and you have to have bought the car from them to get a warranty with them.