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Extended warranty scam!

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Old 04-30-2009 | 11:32 AM
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Extended warranty scam!

I was thinking about purchasing a 996 sometime in the fall, and getting an extended warranty, now Im not so sure.

http://consumerist.com/5234396/car-w...-on-today-show

USFidelis is apparently a huge scam.

Does anyone have any extended warranty stories that are positive??
 
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Old 04-30-2009 | 11:45 AM
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I bought mine through my local Porsche dealer, and to date no problems when it comes to paying for work. The car had to have a PPI prior to them issuing it. I checked the aftermarket companies out, and read the horror stories about no service, no contact, no payment for covered problems. I steered clear of the others, but I'm sure mine cost much more than those advertised on late night TV.
 
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Old 04-30-2009 | 02:31 PM
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I use prizm insurance. They've been great. Even replaced a 12K engine
 
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Old 04-30-2009 | 03:28 PM
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I have Easycare - sold via the dealer. So far they have been great to deal with.
 
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Old 04-30-2009 | 07:06 PM
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I purchased my '02 996 C4 Cab from a private party. Took it to my Porsche dealer for a PPI and he sold me a Porsche CPO warranty at his cost which I believe was $1595.00. I purchased new rubber from the dealer when I first got the car. So far I've had the RMS replaced and the timer control module this spring. Cost of the CPO warranty was money well spent. If you can find a dealer who will do it..........go for it! I've bought two other Porsches and a E350 from this dealer so he's got a happy customer for life!
 
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Old 04-30-2009 | 07:55 PM
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Just picked-up my car today after a RMS repair, paid by my extended warranty, work done by an independant mechanic.

Bought it a year ago from a Porsche Dealer, they didn't even see the car or asked for it. i.e. no PPI was required to purchase the contract.

Total Protection Plan , Administered by Prizm ...
 
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Old 05-01-2009 | 01:36 PM
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wow 1595 sounds like a good deal! I heard some guys pay 3k.
 
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Old 05-01-2009 | 01:47 PM
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insurance in itself is basically a scam sure some people benefit but most just pay to feel better
 
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Old 05-01-2009 | 02:30 PM
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Originally Posted by jbracefan1977
insurance in itself is basically a scam sure some people benefit but most just pay to feel better
It's not a scam, it's just a bet you make with another party (the insurance company) that over the course of the policy period, it will cost you more in repair than the cost of the policy.

And you are absolutely right, for most people they loose the bet (this is why insurance companies are still in business) but during that period, they feel better knowing that if something happens, they are covered.

(PS: This is assuming the insurance company delivers when it's time to pay for a repair.)

From my experience so far, I have absolutely no regrets to have spend over $3K for a 3y/36,000miles bumper-to-bumper warranty.
Even though they just paid ~$2K for a RMS repair, they are still ahead.
But I don't care, money was spent then and I have no worries when I see a leak or if my engine ever blow-up... It may be expensive peace of mind, but I'm fine with it.
 
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Old 05-01-2009 | 11:34 PM
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^ yeah, I agree. I haven't used my warranty at all, but Western General paid for a new motor for my buddy's car, no questions asked, at the Porsche dealership. (same company I have)

For the peace of mind that if something goes really wrong, it'll be covered, I think it's worth it... it's what made me able to buy this car without feeling too guilty
 
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