Non CPO Extended Warranties Worthless?
#31
11-04-2009, 03:28 PM
We hate aftermarket warranties, it is almost impossible to get paid what you bill and it's even hard to get paid on parts, not only labor. We sell 1 warranty that pays for everything, including our full labor rate ($126/hour) and pays for new dealer parts but the cost of this warranty is expensive. Like some said earlier these warranty companies are good at wording the contracts to make you think that you are covered but, in all reality, that is far from the truth. The warranty we sell is exclusionary, has no minimum payout and is a pleasure to deal with. But, like I said, it is expensive, you get what you pay for. Be very careful when you get an aftermarket warranty. you have piece of mind because you are sure you are covered and then you try and get paid.
#33
04-10-2010, 02:11 AM
Thanks for clarifying that. I'm looking to buy a low mileage '01 996TT and i'm still scratching who to go to, who i can trust, and if I can still be covered since i'm pretty sure the factory warranty on this car is long gone. Any more recommendations???
#34
04-10-2010, 08:15 AM
As was stated earlier, you are banking that the car will need a major repair during the time period the warranty is in effect. Truth is you are actually banking on a repair that is larger than the cost of the insurance. And the insurer is banking on the opposite. Since insurers are still in business, who do you think is correct most of the time?
I've never done warranties or insurance that isn't mandated by law. I always get the largest deductible to keep my premiums low. Pay as you go is how I figure it. I refuse to be afraid and I will not be scared into taking insurance. These stories about trying to get money out of the insurer are horrible...crooks! Keep it simple. Keep your money. Pay when/if it is necessary for repairs yourself. If you can't afford it, you can't afford it. Just my opinion
.
J
I've never done warranties or insurance that isn't mandated by law. I always get the largest deductible to keep my premiums low. Pay as you go is how I figure it. I refuse to be afraid and I will not be scared into taking insurance. These stories about trying to get money out of the insurer are horrible...crooks! Keep it simple. Keep your money. Pay when/if it is necessary for repairs yourself. If you can't afford it, you can't afford it. Just my opinion
.J
#35
04-10-2010, 01:41 PM
Well, I've discovered some good news regarding extended warranties that matches with what I have searched in this and the 996 forum tonight. In my additional research, and from everything I can see, Easy Care is the exception to this rule. I have found nothing but positives about them, and they have won numerous JD Power awards for their quality of service.
I then followed up and talked to the service managers of two quality Porsche dealerships who offer Easy Care, and they both said that they are able to secure all needed repairs for their customers through them. Both felt it was an excellent company to deal with.
Unfortunately, there is also bad news. The local dealership quoted me an extended warranty policy from Fidelity covering 6 years and 60k miles for $2895.00. I had been using that in my budgeting numbers to verify that I had enough money to allow my purchase of a 2005 C2s as I have been planning during my search the past few months.
The dealer across the state that I contacted about Easy Care quoted me a 4 year - 50k extended warranty for $4671.00! Clearly, you seem to get what you pay for, but that large an increase may have blowm my chances to buy the 997 right out of the water, as my budget was just large enough to accomodate the cost of the car, the sales tax, and the Fidelity warranty.
John
I then followed up and talked to the service managers of two quality Porsche dealerships who offer Easy Care, and they both said that they are able to secure all needed repairs for their customers through them. Both felt it was an excellent company to deal with.
Unfortunately, there is also bad news. The local dealership quoted me an extended warranty policy from Fidelity covering 6 years and 60k miles for $2895.00. I had been using that in my budgeting numbers to verify that I had enough money to allow my purchase of a 2005 C2s as I have been planning during my search the past few months.
The dealer across the state that I contacted about Easy Care quoted me a 4 year - 50k extended warranty for $4671.00! Clearly, you seem to get what you pay for, but that large an increase may have blowm my chances to buy the 997 right out of the water, as my budget was just large enough to accomodate the cost of the car, the sales tax, and the Fidelity warranty.
John
John,
I'm totally with you regarding the need for a warranty. I purchases a CPO strictly for this reason.
Clearly, I have no idea what your present and future financial circumstances are, but I do hope that a couple of thousand dollars does not hold you back from purchasing the dream car... If you're like us, this has been the object of desire for you since you were about 9 years old. You've waited nearly 5 decades, most of those years spent looking at this purchase strictly as fantasy rather than reality.
Now, you have the opportunity to fulfill that dream. And while most people will consider that this is, in fact, still just a car, for most of us it is so much more than that... I know that this is a little off the topic but I really wanted to offer a bit of encouragement.
I've been fortunate enough to be fiancially sound, but I've never liked making big purchases (unless for investment purposes). Nevertheless, there is something to be said about investing in the car of your life, however silly that may seem to most people. Just seeing my 997 in the garage everyday has been worth every penny.
#37
04-10-2010, 03:13 PM
^I think the entire 997 engine is around 15k.
It would be a sad affair, if the cost of a warranty stopped you from purchasing the car of your dreams.
J
It would be a sad affair, if the cost of a warranty stopped you from purchasing the car of your dreams.
J
Last edited by xXxGhotimanxXx; 04-10-2010 at 03:15 PM.
#38
04-10-2010, 05:30 PM
i bought 02 996 C2 with 17k miles just under 3 yrs ago from a friend. Bought Fidelty extended warranty from porsche dealer- 6yr/75k platinum plan- I normally don't buy extended warranties (but did on my 2 sony rear projection TV and this has paid off many times over)- i purchased ext warranty with porsche as I was worried about IMS failure, & car is still low mileage (28k now)and the Fidelty 50k wear/tear exclusion issue won't apply to me for some time.
So far it's covered $250 repair of xtra key that remote wouldn't work on (CPO wouldn't have covered this according to dealer)- recently they covered replacement of RMS/IMS seal at about $1100- even covered cost of oil- 0 cost to me for deductible both times as i used selling dealer.
I'm not praising Fidelty, just stating so far they've been fair. Keeping my fingers crossed for future.
So far it's covered $250 repair of xtra key that remote wouldn't work on (CPO wouldn't have covered this according to dealer)- recently they covered replacement of RMS/IMS seal at about $1100- even covered cost of oil- 0 cost to me for deductible both times as i used selling dealer.
I'm not praising Fidelty, just stating so far they've been fair. Keeping my fingers crossed for future.
#39
06-23-2010, 07:40 PM
Time to resurrect this thread. I've just checked with my local - New Country Porsche in Greenwich. My '07 has 27k on it. The Fidelity warranty for an additional 24 mo. 24k mi. would be $2700. A whopping $4900 for 36/36. This is additional, not from new. Seems that Fidelity is the one of choice. Also, this is the "platinum" plan and they mentioned that the plan has a $100 deductible, but the dealer would pick up the deductible(!). I would really love to go to a plan with a big deductible like $1000 or maybe one of the lesser Fidelity level plans. Could probably get a lesser plan directly and still take it to the dealer for major issues. Any other recent experiences?
#40
06-23-2010, 07:50 PM
I had an exclusionary policy that payed for itself 4x over when I had an audi S4. At one point (5th or so claim) they did send an inspector out and saw my car was lowered and had aftermarket exhaust and denied the claim on the spot and my warranty was voided.
#41
07-08-2010, 08:23 PM
Registered User
Join Date: Oct 2009
Location: Marin County, California
Posts: 75
Rep Power: 18 
I have an 06 997 with about 3 months left under the factory warranty and have been checking out plans as well. I still haven't decided, but a couple points to share:
1. As mentioned above, I'm looking for disaster coverage. A worst case scenario, i.e. blown engine. I don't believe repairs less than a grand will end up paying for the warranty.
2. Whatever the dealers quote you is negotiable. I found my local dealer chopped off 10% without trouble.
3. There's a huge incentive for the dealership that will be servicing your car to sell you their warranty. I think this creates a good win-win scenario if you involve the sales manager or someone you can go to when you have a problem.
4. Fidelity has 4 different plans. Make sure you are researching apples-to-apples. The "Basic Plan" is really just the engine. The "Platinum Plan" is pretty much bumper-to-bumper.
Right now I'm leaning towards a 6/60 engine/transmission only.
Great thread..
1. As mentioned above, I'm looking for disaster coverage. A worst case scenario, i.e. blown engine. I don't believe repairs less than a grand will end up paying for the warranty.
2. Whatever the dealers quote you is negotiable. I found my local dealer chopped off 10% without trouble.
3. There's a huge incentive for the dealership that will be servicing your car to sell you their warranty. I think this creates a good win-win scenario if you involve the sales manager or someone you can go to when you have a problem.
4. Fidelity has 4 different plans. Make sure you are researching apples-to-apples. The "Basic Plan" is really just the engine. The "Platinum Plan" is pretty much bumper-to-bumper.
Right now I'm leaning towards a 6/60 engine/transmission only.
Great thread..
Last edited by ggregory; 07-08-2010 at 08:25 PM.
#42
07-09-2010, 08:08 AM
I noted that Fidelity has 4 plans, but my dealer will only sell me the Platinum plan. And it seems they are a dealer only company, no warranties outside of a dealer. any luck getting one of those Basic plans? How much was it?
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