Extended Warranties

[Sheila]

Looking to purchase an extended warranty for my RR2012 sport I just purchased. Does anyone know
of reputable warranty companies?

 

[joey]

I have used ASC Warranty with great experiences with them on my Subaru's, and even the Dealership said when they had to deal with them, they were easy to work with and paid fast. I know Nathan in my Signature sells them.

 

[jwest]

Looking to purchase an extended warranty for my RR2012 sport I just purchased. Does anyone know
of reputable warranty companies?

I'm not aware of many aftermarket warranties that will go past 8 yrs from original but maybe that was just for a vehicle still in factory warranty coverage.

I'd do the math on warranty cost vs 3 top/likely & most expensive repairs vs saving cash for 2 yrs. I only did an extended when it was starting from 50k miles and 4 yrs to increase out to 8 total covered years / 100,000 miles. the aftermarket I did at the time was massively cheaper than the factory extension of same coverage.

Also, regarding the classic 'eat a hole in your pocket' $100 deductible, do the math to see that it's almost always a terrible choice.

First, a warranty is committing to a $ loss up front by buying it in the first place. Then, when you choose the $100 deductible, only 10 trips and you're at another $1000 which is laughable.

2012 being only 6 yrs old, to me it very much depends on the mileage. If it's rolling into the 80-90k zone, then I'd probably do the warranty and be happy (no deductible!!). If it's only been driven as much as our 08 Audi S4 avant with now still less than 80k, I'd probably risk it and just start putting $200/month into a separate account that's hard to access from ATM and easy to forget about via auto deposit/transfer

 

[jwest]

h, also, if you were buying a bmw, i'd say get that warranty TODAY Mine used so much warranty coverage by 100k it was just stupid.

 

[Sheila]

Thank you JWest

I only have 62,000 on the RR and will not be driving it as much, so your suggestion on just saving the
cash monthly is probably the best idea.

 

[jwest]

I'm going to use this opportunity for a mini-chat on cash flow

There are of course many factors that are different for everyone but if you could get coverage to 100k as well as a time frame that would be used in order for YOU to get it to 100k, then I'd consider the warranty with no deductible and only if it's under $5000.

The thing with many people and these extended warranties is people either blow through the miles too soon by racking up highway time (which is easier on all the systems) which then leaves them with paid time but no benefit. Then some people drive so few miles they never realize that potential for items typically going out close to 90-100k while hitting the end date before miles limit.

I was lucky to have a very good average miles/yr to rely on as well as a cheap enough warranty to make the math work almost without pause.

People often forget the cost of money out of service as well. For other people reading, consider if you have any debt and that cost annually, sometimes even monthly if it's higher interest such as a 12-24% credit card. If you elect to let go of $5000 on a warranty, 1st you have to get that much in coverage to even feel like you broke even, but it's not actually an "even" unless it occurs the next month or you have zero debt, zero. If your coverage doesn't occur say for a year, that's 1 yr lost for that $5000 to work in another way to save or make you $.

$5000 @ 12% interest like on a 'decent' credit card these days, or 24% on a bad one LOL costs $50-$100 / month to cover the interest.....

So with buying a warranty, at any point actually, you're taking a gamble AGAINST the house that you might just win and break even. You're actually hoping to at least BREAK EVEN LOL By you, I mean WE in the past I got lucky with the timing on mine and some insider knowledge that my rear diff was getting toasted towing a and there were a few other hints of it being a good idea plus the ability to exactly run up to 8yrs /100k. That timing hit within weeks for 100k and ending the warranty period!

So, a $5000 warranty costs you first the gamble you will at least break even, next it costs what any other debt costs because you're having to let that debt sit by having used $ from an apparently non-infinite budget.

Want to see how much a bad idea the expensive warranties over $5000 can be? Consider that right now you could search for a few weeks or less to find a decently maintained lr3 for not much more than the cost of that extended warranty.... hmmm, hope to break even on **** falling apart on your lr4 when you could just buy an ENTIRE REPLACEMENT lr3 for roughly the same as the worst possible catastrophic lr4 repair....

Being your own 'warranty plan' is almost always the winning choice in the big picture.

Mini chat turned into mini rant is now over.

 

[Sheila]

Thank you for explaining that, it makes total sense. Interestingly enough as of this writing, I took the
RR into the dealer I bought it from ( BMW) as the car gave me a backup camera signal telling me to take it to the dealer. I was still under their 30 day warranty, so I did and come to find out, it wasnt the camera but mice had chewed into it and now they are replacing a new harness and wiring on it. I found out that
that alone would have cost around $2000, so only having the vehicle 2 weeks before this occured and still
under their warranty, is why I was considering purchasing an extended.

it just seems like a gamble either way, however, I do have the choice of keeping the money and investing it wisely for just such happenings.

 

[jwest]

i wonder if normal warranties would cover animal damaging things like that. I think you're lucky on that one!

 

[Taemian]

My private car insurance did, we had chewed wires replaced, headliner replaced, and car cleaned and ozoned. Those buggers got EVERYWHERE!

 

[echiriff]

That sounds more like an insurance claim than a warranty issue. If they fixed under warranty I think you were very lucky...