Buying Used Boxster - Warranty, PPI or Both

[gregwils]

I've started my quest for a good used Boxster, probably going to reach for an '03 non-S.

I've worked on cars my whole life, but my skills with electronics are minimal. I guess I will learn, and plan to buy the Durametic software or equivelant.

My greatest concern would be some catastrophic failure (engine) during the first year or two, though I know the odds of that in later years are pretty remote. As a result, I'm strongly considering to spend $2,500 - $3,000 for the piece of mind for warranty coverage.

I have two questions. (1) If you bought used and out of mfg warranty did you supplement with a 3rd party warranty? (2) Would you spend the $300 - 500 on a prepurchase inspection if you also were purchasing a warranty? I'm planning on using Warranty Direct.

Thanks in advance.

Always do a PPI.

IMHO- I would take the $2,500-3,000 an put into an interest yeilding account and use it for your "Boxster Maint. Fund".

[larryshomework]

I think the PPI is a good idea - plus, Warranty Direct will require some type of PPI. If you have one done, you can send them the report - otherwise, they'll arrange one (I think around $100) before they issue coverage. Might as well pay the extra to get a PPI by a Porsche mechanic.

I bought mine from a BMW dealer - had it sent to a Porsche dealer for the PPI and bought and extended warranty (4 yrs/70 K) for about $2400.

FWIW, the Porsche service advisor that did my PPI told me that an extended warranty is worth it's weight in gold. I know opinions vary but since this was my first Porsche, the peace of mind from both the PPI and EW were worth the price - plus, I can transfer the EW or cancel for a pro-rated refund.

[thomschoon]

PPI should be required on any P-Car purchase, it is also about equal to the deductable on an aftermarket warranty so pay them now or pay them over & over again later

[shaman1204]

I got a really good deal from AA Auto Warranty. I paid $1,977 for a 5 year/75k mile bumper2bumper that included seals and gaskets plus the ooptional wear and tear coverage for a 01 base with 32K miles. Might want to check them out online.

[z12358]

Originally Posted by shaman1204

I got a really good deal from AA Auto Warranty. I paid $1,977 for a 5 year/75k mile bumper2bumper that included seals and gaskets plus the ooptional wear and tear coverage for a 01 base with 32K miles. Might want to check them out online.

What's the deductible, though? That's an unbelievable deal. Best one I've seen so far. Assuming that a 6 yr old Box would have sub $2k total repairs over the NEXT 5 years is a bit optimistic, I think, so I wouldn't want to be on the selling side of this deal -- unless the fine print has a twist or two...

Z.

[Brucelee]

IMHO, the PPI simply is mandatory. To NOT do it is very very risky. You must like Las Vegas if you go this route.

Re: warranty, the arguments go both ways!

[Perfectlap]

the PPI is not only logical but if they do find something needing repair you can negotiate that into a lower price. So doing it can save you some money instead of costing you.

as far as warranty, go with a well known company like warranty direct. You can stick that $3K in the bank but at 5-7% if something goes wrong in a big way your small saving isn't going to cover you. Porsche repairs can get extremely expensive fast. Most roll the dice and don't opt for the coverage because a catastrophe is uncommon, the car is rarely a daily driver and the average Porsche owner can afford to plunk down a major repair. If you feel your finances couldn't withstand such a thing get the coverage. If I drove my car on a daily basis I would absolutely go with warranty direct.
At the end of the day you have to remember that this is a rare German car (relative to the car population) requiring specialized labor and expensive replacement parts. Its not a Honda S2000, ownership comes with some added costs but well worth it to me.

[shaman1204]

The deductible is $100. Here is the email that I was sent. It contains the link of the actual contract. I already posted it before to ask what others thought of it. It looked almost identical to Warranty Direct's policies.

Here is your Coverage Plan from AAAutoWarranty.com:

March 21, 2007

2001 Porsche BOXSTER 32123 Miles
Illinois

Link To CONTRACT: http://aaautowarranty.com/WAContract.asp

Plan : Warranty America Bumper to Bumper UVP
Term : 60 Month(s) or 112123 miles on odometer
Standard Deductible: $100

Plan Cost : $2,102.00
Wear and Tear Coverage : $75
Discount Amount : $-200
Total Cost : $1,977.00

[z12358]

Originally Posted by shaman1204

The deductible is $100. Here is the email that I was sent. It contains the link of the actual contract. I already posted it before to ask what others thought of it. It looked almost identical to Warranty Direct's policies.

Here is your Coverage Plan from AAAutoWarranty.com:

March 21, 2007

2001 Porsche BOXSTER 32123 Miles
Illinois

Link To CONTRACT: http://aaautowarranty.com/WAContract.asp

Plan : Warranty America Bumper to Bumper UVP
Term : 60 Month(s) or 112123 miles on odometer
Standard Deductible: $100

Plan Cost : $2,102.00
Wear and Tear Coverage : $75
Discount Amount : $-200
Total Cost : $1,977.00

IMO, everyone without a warranty and planning to keep their Box for at least a few years should be on this deal like a cheap suit. Just make sure the fine print doesn't exclude any really big ticket items.

Going back to discussions we've had about Porsche reliability...If this deal is honest, if it indeed covers everything, AND the company has been profitable offering it, then average repair costs over 5 years on a 5+ year old Box must be less then $2k. I hope they're right.
Z.

[mikefocke]

1. Is to know if you should buy it.
2. Is to know what you'd need to do to make it safe (if it isn't)
3. Is to have an idea of what you'll need to do in the future. How many miles to go on the tires, etc.

Unless the car is very low miles and you know the owner and have all the records, please do a PPI.

An extended warranty is only as good as the company behind the warranty. I bought an 01 2 years ago and had the chance to pick up the existing warranty or take a $3k lower price. I took the lower price. I've probably spent $500 that would have been covered by the warranty in 2 years. I'm ahead of the game. Understand that only about 20% of the $ you spend of an extended warranty for any item is planned by the insurer to go towards future repair costs, the rest is selling, administrative expense and profit. Now why go into a deal like that?

Of the warranty companies, Warranty Direct has a good reputation.

Might want to read some of these pages on buying a Boxster http://mike.focke.googlepages.com/mikesporscheboxsterwebpages

[z12358]

Originally Posted by mikefocke

Understand that only about 20% of the $ you spend of an extended warranty for any item is planned by the insurer to go towards future repair costs, the rest is selling, administrative expense and profit. Now why go into a deal like that?

Wow, 20% can't possibly be right. So in the above deal the company expects to pay $400 in repairs per Box over 5 years, on average? I also think 80% is just too much for administration and profit. Warranty companies would be mushrooming on every corner trying to get a slice of that pie.

We've discussed warranties before here and the conclusion is that it depends on the owner's financial situation and/or ability to take on risk (no warranty) for the expected better average payout (not giving the profit to the insurer). Alleviating risk, however, does not come free, and the mentioned deal in particular looks like a good one, indeed.

Z.

[Perfectlap]

does AAAutowarranty have any affiliation with AAA at all?
those rates seem very very low.

I considered a policy with warranty direct before the 06 calendar year was up and the higher rates kicked in. They wanted basically $3K for three years of coverage with the money to be paid within 10 months with 30% down. Seemed like a better deal for them than me because my car has had only one $350 repair in nearly 40K miles going into its 7th year.

[Chills]

I bought a warranty from the dealership where I bought my car. It was about $3k and I had it rolled into the financing. The warranty covers the entire car, bumper to bumper (except the fabric on the top), for 4 years or 26k miles (whichever comes first). I felt it was worth it because there's no deductible if I get the car worked on at the dealership.

Also, the warranty came with a PPI. So for the peace of mind I have I thought the money was well worth it.

[mikefocke]

I don't disagree that if the buyer can accept little risk and would rather fix his repair costs, even if it costs more, then a warranty from a reputable company is a good idea.

I don't like buying from companies who play games with their names implying an association with another company whose name is better known and respected. Note they don't have the AAA seal on their web site.

I don't like buying insurance from a company who cites affiliations with highly rated companies without naming the companies. I want to know who is backing the warranty with their financial strength.

I wouldn't buy from this company on a bet.

AAA does have a extended warranty plan (they call it MBP) and you'll see their well known seal on their web site. Warranty Direct has a good reputation too.

But you buy insurance trusting the company will be there when you need them and there are lots of games being played by companies that collect your money, pay themselves a big salary, and go out of business.

And the 20% is a commonly accepted actual repair costs figure often cited in general articles relating to extended warranties on various items.

[RedBluff]

Reviving an old thread......I'm not afraid of taking on a long term project and so I'm looking at examples with over 100K and in the 0-8K range. Is a PPI still worth getting? I guess I'm looking for a $ cut off? 5K? 3K???

[78F350]

Originally Posted by RedBluff

Reviving an old thread......I'm not afraid of taking on a long term project and so I'm looking at examples with over 100K and in the 0-8K range. Is a PPI still worth getting? I guess I'm looking for a $ cut off? 5K? 3K???

It *is* an old thread and values/warranty options have changed a bit since 2007.

I think that the cut-off $ depends a lot on who you are and what you are willing to gamble. I have never had a PPI done, but I'd highly recommend it for anyone (buying any Boxster) who is not planning to DIY major maintenance shortly after they buy it.
Personally I'll do my own PPI on a car for under $5k, not because (after buying 8 986s), I'm so smart, but because that's what I'm willing to gamble. At about $7K and up, I'd seriously consider a PPI, because I know I may miss an important issue. Buying a sports car can be ...emotional and it's good to have a 3rd party give an unbiased perspective.

[mikefocke]

So today's question is should I pay $200-300 to have a person with many years of water cooled Porsche experience examine a car and give me an opinion of what it needs now and what it is liable to need next year? And is there a cut off on the price of the car below which you just buy on visible and driveable condition and skip the PPI?

My thoughts:

1. A 2003 has the worst IMS bearing and it has a ~1% per car year chance of failure. Not every one will fail but you are now probably up into the 15% range for an engine with no maintenance history. (Do you know the oil was changed at one year/5k miles or did the owner save money and do it at 10k?) Do insist on pulling the oil filter and spreading it out to examine for metallic parts even if you have to pay for the filter and a couple of quarts of oil.

2. How many different cars have you driven/bought and how much of the condition of the car will you be able to scope out just on a test drive. Can you tell from the condition of the tires the condition of the suspension? From listening to a cold start the condition of the valve train? A Porsche experienced mechanic can make a better educated guess than I can and I've owned two.

3. $3k is about the point where a "roller" (a car with no working engine) is priced at. Not any risk there if you are willing to part it out. At $5k you aren't expecting much. What is your tolerance for risk?

Good luck. Wonderful cars.

[RedBluff]

Originally Posted by mikefocke

So today's question is should I pay $200-300 to have a person with many years of water cooled Porsche experience examine a car and give me an opinion of what it needs now and what it is liable to need next year? And is there a cut off on the price of the car below which you just buy on visible and driveable condition and skip the PPI?

My thoughts:

1. A 2003 has the worst IMS bearing and it has a ~1% per car year chance of failure. Not every one will fail but you are now probably up into the 15% range for an engine with no maintenance history. (Do you know the oil was changed at one year/5k miles or did the owner save money and do it at 10k?) Do insist on pulling the oil filter and spreading it out to examine for metallic parts even if you have to pay for the filter and a couple of quarts of oil.

2. How many different cars have you driven/bought and how much of the condition of the car will you be able to scope out just on a test drive. Can you tell from the condition of the tires the condition of the suspension? From listening to a cold start the condition of the valve train? A Porsche experienced mechanic can make a better educated guess than I can and I've owned two.

3. $3k is about the point where a "roller" (a car with no working engine) is priced at. Not any risk there if you are willing to part it out. At $5k you aren't expecting much. What is your tolerance for risk?

Good luck. Wonderful cars.

Exactly what I was looking forward. Merry Christmas and thanks Mike.

[husker boxster]

Wow, blast from the past with Brucelee, PerfectLap, and a still contributing MikeF.

Search obviously works.