Feb 9, 2007 4:41:38 AM
- boardrider
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- Loc: Malibu, Calif,
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Board: Porsche - 911 - 997
Language: English
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Feb 9, 2007 7:47:16 PM
- Dan L
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Feb 9, 2007 7:52:36 PM
- boardrider
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- Loc: Malibu, Calif,
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Re: Extended Warranty
The reason I ask about the extended warranty is my local dealer is currently offering me a 6year 100,000 mile warranty for my 05 997 S. He wants $3500 for this extension over my factory 4 year warranty.I currently don't drive this car much (I bought it in Dec 04 and it has 7500 miles) so mostly I am interested in the time extension part of the extended warranty. Anyone want to give me their opinion or some advice?
Feb 9, 2007 8:21:39 PM
- 1st997
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Feb 9, 2007 8:51:35 PM
- larrytrk
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Feb 9, 2007 8:54:18 PM
- boardrider
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Re: Extended Warranty
1st997, The warranty they are offering me is 6 years including my factory 4 years, so that makes for an extension of 2 years. When you think of it not very much longer for the $3500+. I like the 10 years that DanL talkes about much more, because as stated above I don't see driving this car a lot of miles but I intend to keep it a long time, so term of warranty is more important to me then miles.
However, when talking to the dealer I get the impression that he is making a fair amount on selling me this extended warranty, that would perhaps indicate that there is some room for negotiation in the price or term etc...
However, when talking to the dealer I get the impression that he is making a fair amount on selling me this extended warranty, that would perhaps indicate that there is some room for negotiation in the price or term etc...
Feb 9, 2007 9:29:10 PM
- SrfCity
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- Loc: Orange County, CA
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Re: Extended Warranty
You can search this topic for a lot of info. Find out who's doing the underwriting. Most 3rd party extended warranties are a scam and you won't find that out until you make a claim and they say, "sorry, that's not covered." If it isn't offered by P and exactly the same as the factory warranty I'd be leary. The reality is that as long as you have not had problems with the car you're probably better off just paying for stuff as it comes up. Let us know what you find out?
Re: Extended Warranty
Quote:
SrfCity said:
You can search this topic for a lot of info. Find out who's doing the underwriting. Most 3rd party extended warranties are a scam and you won't find that out until you make a claim and they say, "sorry, that's not covered." If it isn't offered by P and exactly the same as the factory warranty I'd be leary. The reality is that as long as you have not had problems with the car you're probably better off just paying for stuff as it comes up. Let us know what you find out?
The third party warranties are indeed a scam! HOWEVER, the extended warranties that are offered by Porsche dealers are the third party warranties and by proxy are scams!
Unlike BMW or Merc, Porsche doesn't offer extended warranty to original owners. People buying used cars from p-dealers can get a CPO car which includes the 2 years of extra warranty underwritten by porsche. As an original owner, you're SOL. It is basically either go with an aftermarket warranty or just bank your money.
Feb 10, 2007 12:15:51 AM
- Leawood911
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Feb 10, 2007 1:09:22 AM
- PeterK
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- Loc: san antonio, tx
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Re: Extended Warranty
Quote:
PeterK said:
Not to mention that when you're out of the warranty, you can take your sweet time to source the parts from internet porsche dealers/ebay at almost half the sticker price!
Quote:
Leawood911 said:
Totally agree. Third party warranty left me high and dry with my 996. Bank your money. Also look for a good mechanic other than your dealer so that once you are out of warranty you can get away with paying reasonable prices.
Good advice. If the thought of this scares you then just dump the car before the warranty runs out. In most cases 4 years is a long time to own a car anyway. My choice at this point is to probably dump. I hate the feeling of "flapping in the breeze" especially with all this electronic wizzardry
Feb 10, 2007 1:41:26 AM
- boardrider
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- Loc: Malibu, Calif,
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Re: Extended Warranty
The warranty that the dealer is offering me is from Porsche! It suposedly is exactly like the new car warranty just longer(covers almost everything) The catch is that I have to close out my current lease, sell the car to the dealer, have it certified by Porsche and then buy it back from the dealer (at the same price they pay me which is my lease buyout) then pay for the extended warranty. Sounds involved but I was thinking of buying out my lease anyway because I want to keep the car and not turn it in to Porsche leasing. So I'm still debating with myself warranty or no??? Help
Feb 10, 2007 1:54:50 AM
- PeterK
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- Loc: san antonio, tx
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Re: Extended Warranty
Quote:
boardrider said:
The warranty that the dealer is offering me is from Porsche! It suposedly is exactly like the new car warranty just longer(covers almost everything) The catch is that I have to close out my current lease, sell the car to the dealer, have it certified by Porsche and then buy it back from the dealer (at the same price they pay me which is my lease buyout) then pay for the extended warranty. Sounds involved but I was thinking of buying out my lease anyway because I want to keep the car and not turn it in to Porsche leasing. So I'm still debating with myself warranty or no??? Help
That is one way to get around. They are basically selling you a CPO car!
This might not be a bad idea since you're getting the real deal in terms of the warranty.
If they are charging you $3.5k, they are making about $2K off this deal. It will cost them about $1.5K to issue a CPO status.
Feb 10, 2007 1:54:54 AM
- boardrider
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- Loc: Malibu, Calif,
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Re: Extended Warranty
Good advise SrfCity Thanks. My problem is I like to keep my cars a long time.I bought my Speedster in 1967 and the 912 I purchased new. I had thought this 997 would last a long time, but I agree the electronics could be really antiquated in 2015! I keep having this dream that I am showing the 997 in the future to someone and laughing how lame the nav is, saying something like "have you ever seen one of these things before" kinda what you think when you see an 8 track tape player today.
Feb 10, 2007 3:07:43 AM
- SrfCity
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- Loc: Orange County, CA
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Re: Extended Warranty
OK, that explains your warranty situation a little better. That's a great way to go. You're getting a P backed warranty. Still I'd have to rethink one of these cars out of warranty. Some common P problem like RMS could start to add up quick if you didn't have a warranty to fall back on.
Ask a few questions on the buy back thing though. I'm pretty sure you'd have to pay sales tax and registration on top of the cost of the warranty. That could add up and make it totally not worth it. If you ran the numbers it might be better to just lease another one and let them take the hit. Let us know what works best?
Ask a few questions on the buy back thing though. I'm pretty sure you'd have to pay sales tax and registration on top of the cost of the warranty. That could add up and make it totally not worth it. If you ran the numbers it might be better to just lease another one and let them take the hit. Let us know what works best?
Re: Extended Warranty
How about this?
Keep the car after the warrenty runs out and until it requires a major (us$3000 or more?) repair. THEN trade it in for a new Porsche?
Presumably the dealer can effect a repair at lower cost AND you're getting robbed (more or less) when you buy a new car anyway.
Is THAT a way to lessen the "screwed" factor? Just thought I'd ask.
Keep the car after the warrenty runs out and until it requires a major (us$3000 or more?) repair. THEN trade it in for a new Porsche?
Presumably the dealer can effect a repair at lower cost AND you're getting robbed (more or less) when you buy a new car anyway.
Is THAT a way to lessen the "screwed" factor? Just thought I'd ask.
Feb 10, 2007 3:46:40 AM
- boardrider
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- Loc: Malibu, Calif,
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Re: Extended Warranty
If I want to keep the car longer my only choice is to buy out the lease before or when it expires. Because I haven't driven the car much (about 3500 miles per year, on a 15000 mile a year lease) when the lease expires the way Porsche predictes the value very close to the real value at that time. Due to the low miles on my car I have equity, meaning the value of the car is higher than the buy out of the lease. My buyout today is about $55,000 and the car is worth something like $69,000. So if turn it in to Porsche I lose the difference. I could always buy a new one but it would cost something like $35,000 more and wouldn't be much better than what I have.Under all cases I would have to pay tax the only way to avoid this is to sell it to a third party or turn it in. I don't know if any of this as stated makes sense, but this is my dilema as I see it.
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