Extended warranty SUCKS!
 

After some mods my tech advise me that my alternator went bad on my 01 S. I have an extended warranty from (Easy Care) on the car and I paid a total of $3,500 for it. My tech advise me that the rep from Easy Care gave him a hard time and wanted to send him the part directly from Easy Care my tech refused stating that he didnt know what type of part would be sent or if the part was a remanufactured one. Part cost is around $1,300 list price they offered to pay for the part at only $800 plus labor :eek: my tech found the original part but he was upset as to how the warranty handled the situation he explain that warranty companies are out to make a profit and they usually give you a hard time everytime you make a claim with them. He also told me that warranty companies dont like it when you have a zero deductible on your insurance. It amazes me how just about every business in the car industry is out to screw you out of your hard earned money.

Now I have a couple of minor things wrong with the car but my tech advise me not to do anymore claims and wait till one claim gets settled before proceeding with any other issues. Why do you pay for peace of mind and then get issues with the company it beats me. Warranty companies are there to provide a service and the service should be provided with no problems especially if the problem is a legit one. I cant believe that try to send you "used parts/reman" :barf: WTF!

To make matters worse my tech told me about a horror story that occured with one of his clients, client had an issue with the engine the warranty company was advised to fix both cylinder heads instead of the one that was damaged. Tech repaired the bad cylinder head and inform the client of possible future problems, client left on a business trip, car broke down due the the cylinder head issue client lost his business client, money and was left stranded in the middle of nowhere. Client sued the warranty company, company settled and paid for full repairs plus all the other headaches and money lost. In the end the client won and was fully compensated but the client had to go through a bunch of headaches beforehand. Amazing!

I feel like canceling my warranty and putting that money back into the payments of the car. I never purcahse a warranty before but then again I had never owned a Porsche so I wanted a lil peace of mind but now I have none.... :(

While I can certainly understand your frustration with this situation, bear in mind that all companies are out to turn a profit. Insurance companies (whether it be for home, boat, car, business, etc) hedge risk as a s business. The model works on the assumption that as a whole, there is more money flowing into the company by clients paying for peace of mind than money flowing out to pay for claims.

This is certainly no justification for bad service, or as you put it, "screwing clients," but it does go to show who the better and worse companies are. There are some third party automotive insurers who give excellent service, apparently the company that won your business is not one of them.

More than likely you do not have a provision in your contract to ask for a refund, but in the unlikely event that you do, I'd certainly consider excercising it. $3500 is an aweful lot to pay for peace of mind, especially when that peace is somewhat ficticious in nature.

Patrick

Get our your contract and READ it in detail, perhaps for the first time.

See what you are and are not entitled to. In other words, find out what you purchased before you jump to conclusions.

Then talk to the company, not your tech. Rumor from a third party is not useful in these situations.

I'm not sure if it there is much difference between how warranties are setup in the US and Canada, but I hear of your version more often here. Mostly I see basic warranties worth $300-400 here for used cars as a 'selling feature' more than anything. Nearly half the used dealers I talked to when shopping told me they offered third party warranties, but didn't recommend them. I prefer to put that money into a 'repair fund' than give it away.

sone warranties do suck.

That's why I decided against paying for my plan all up front.
I went for the installments.
After they refused to cover a $4 parking brake switch I stoped paying the installments and cut my losses. The company was CWS which was somehow associated with CarFax at the time.

stick with warranty direct...

I had easycare and it just expired. While they did question EVERYTHING I had in for repair, they did cover most all expenses. But...i'll never buy an extended warranty again. here's why:

I bought the warranty because of all of the talk of how hard and expensive Porsches' are to work on. Having never owned a Porsche before I payed $3500 for the warranty. After having the car for 3 years now I realized that they are easier to work on than your average Chevrolet and the parts dont cost that much more. Sure, the warranty company covered my O2 sensors (1 at a time which required me to leave my car 4 different times at the dealership) my MAF, my valve covers gaskets, my CV boots, and assorted other stuff. But when added up I ended up paying about a grand more than what was actually covered and was without my car many more days due to having to keep bringing it in for the "next" repair whereas I would have had the problems fixed correctly the first time.

How often do you hear of warranty companys actually having to pay for major troubles such as a new engine or tranny. I haven't. They made money...good for them...I had piece of mind...good for me...I now know the Boxster is very easy to perform work on in my garage...bad for the next warranty company and good for me! :cheers:

Hi,

Money magazine did a study and subsequent article about Aftermarket Warranties. Their conclusion was that you'd be better off establishing your own Repair Fund.

This was based upon setting aside 1% of the purchase price of the car monthly and putting it in a Fund or Online Banking account of 4% or greater. According to their study, in the end, on average, you'll come out a few thousand ahead vs the Price and the Duration of an Aftermarket Warranty.

But, and this is a big BUT - you have to make the payments to the Repair Fund religiously, come Hell or High Water. And, that you don't use the Fund for Consumables such as Brakes, Tires, Tune-ups, Clutches, and especially Mods. Discipline is the key.

I did this many years ago and accumulated enough to equal about 1½ New cars at which point I ceased funding it. I even withdrew half of it and invested it elsewhere. I would never get an Extended Warranty - they're a rip-off. But, they play to people's sense of vulnerability - everyone's heard horror stories of people having issues with cars. But, how many of you have faced a really major repair - one that Broke the Bank and was not merely inconvenient? And, if so, how likely was it that you bought the wrong car to begin with? With careful, objective, shopping and a PPI you really limit the likelyhood that this will happen to you. You're paying an awful lot for supposed peace of mind...

Happy Motoring!... Jim'99

You should try getting warranty quote from AAA, for my 1997 Boxster with 109,889 miles... I was quoted $1048 for 60 months, or till 209,889 miles on the odo.
$0 deductible and the details of what they cover on the vehicle seem very good. They basically cover all the stuff that costs an arm and a leg on the boxster.

Heres the link to my quote: http://aaautowarranty.com/program.asp?id=187903

FYI, this company has nothing to do with AAA. They've designed their name and their logo to look like the AAA logo, probably trying to play on the name recognition and trust that people have in AAA.

I'd be careful (but I am certifiable paranoid anyway).

Gary

Also, note the specific language in the warranty....it only covers an engine or transmission failure. So if you slip a sleeve, crack a liner, or shell an IMS bearing, you're good for replacment of the engine alone. The warranty won't pay for the whole crate engine Porsche will want to replace it with, since it includes alternator, manifolds, etc.

Side note: Car looks great!

Oh i didnt realize that! good to know.

Oh i see, that would raise a problem if a new engine would be needed.

BTW thanks for the car compleiment, just had her painted.

I purchased a warranty through AAAutowarranty as well. I paid $1977 for 5 years or 60K miles for a 2001 base with 32k miles. AAAutowarranty is just a broker, my actual warranty is through Warranty America LLc out of Colorado. My rear lower control arm is gone and I plan on getting it looked at soon. The warranty specifically states it covers lower rear control arms, so we'll see. It also says that they don't cover pre-exisiting conditions, which I never noticed the clunking noise when buying it or shortly thereafter. Plus I have the dealers 150 point inspection paperwork as well as my PPI paperwork that says nothing of a lower control arm issue.