How do extended warranties work?

[jattea]

As I'm turning the 30,000mi mark on my LR3, I'm starting to think about what I'll do when my warranty's up. I love my LR3, but I fear that maintenance costs will be too expensive.

How do extended warranties work? Are they done through Land Rover, or the dealer? Or through a third-party? How much should I expect to pay to get another 30,000 - 50,000 mile warranty?

 

[Houm_WA]

through the dealer...probably about $5k. Of course, unlike with your first $50k, the maintenance is not covered (I don't think).

Here's what I might do: Put aside $100 a month for the next 2 years (that's about how long it will take for your warranty period to end) and use that as your warranty money. ...put it in a money-market or a mutual fund so that it's someone liquid but can still make 4% interest or something. Just my $0.02.

 

[Houm_WA]

One other thing to note, here is my "extended warranty" :

1. I have collected 22 shop days for my LR3. I'm certainly not bragging about something like that, but in my state, 8 more shop days and it's a Lemon. Land Rover will be doing a lot of "good will repairs" lest they have to replace my car.

2. I have a piece of insurace coverage called "mechanical breakdown" that basically works like a warranty....everything is covered except wear 'n tear items. There is a $250 deductible, but this working conjunction with no. 1 above and I think I'm in pretty good shape for the next 5 years.

 

[jptruck]

The extended warranty is best negotiated at purchase of the vehicle. You have some room to negotiate on a car that is essentially a blank slate. Mine was about $2,000. The kicker: it's essentially an insurance program, and you would pay a $100 deductible every time your brought the car in for a problem. The warranty does not cover regular maintenance.

For me, it was a good deal because I plan on keeping the vehicle for 8 years or so. $100 seems cheap when something goes wrong mechanically.

 

[javert]

One other thing to note, here is my "extended warranty" :

2. I have a piece of insurace coverage called "mechanical breakdown" that basically works like a warranty....everything is covered except wear 'n tear items. There is a $250 deductible, but this working conjunction with no. 1 above and I think I'm in pretty good shape for the next 5 years.

I have that on my policy from Geico for my 2000 Volvo because I own that one outright. Just did a $1900 A/C repair for the $250 deductible. It costs an additional $60/year per vehicle. The only catch is you have to get it from day one and keep it up through the warranty.

 

[Houm_WA]

$60 a year sounds about right, and in my opinion that's very cheap; especially when you consider that it includes coverage on ALL glass for a $50 deductible. The LR3 has lots of glass and the state of WA has crappy roads and I pick up a lot of rock chips. It's great peace-of-mind and a better piece-of-coverage.

I did get it from day one so I'm in good shape; it's too bad it's not available to others. also glad to hear that it works as advertised per your experience with your Volvo.

 

[JJABKW]

Has anyone on the board successfully negotiated an extended warranty for their LR3 from a Land Rover dealer after the purchase of the vehicle?

What type of warranty did you purchase? (length, coverage)
What did you end up paying?
Was there a difference in price from dealer to dealer?

I bought this beast last year thinking I would keep it for two or three years and move on, but my wife and I absolutely love this truck!!! I have not had any serious issues with the vehicle, but I would enjoy the piece of mind an extended warranty would bring.
Besides, these published reports from JD Powers are not helping the resale value!!!!

 

[Houm_WA]

JJ...I think you mean "peace" of mind, but I've been drinking, so don't mind me.

Anyhow, I was able to negotiate 25% off of an extended warranty 8 months into ownership. I did not take the deal, but it is possible...hope that helps.

 

[Dunedin]

with 10K miles on my 2006 SE, extending the warranty from 4/50,000 to 5/75,000 was $1600. LR "brand" sold through the Dealer. The Exclusionary version covers all components and parts except wear & tear items (like brake pads, wiper blades). Also includes rental car coverage, tire & wheel road hazards, and is transferable. I did it because I'm running at the rate of 15K miles/year and will hit the 50K standrd warranty before the 4 year mark.

 

[toddjb122]

Any recent extended warranty feedback from anyone?

I've been putting it off, but at 45K and since I decided to keep the car, I plan on getting one. No way I want to pay shop charges when the techs are spending hours debugging some computer, air suspenstion, tranny or engine problem. Oy.

And preference to dealer warranty vs. third party? My credit union offered one as well and would probably be cheaper than LR's..

I want the one that is easiest to use. Meaning...I don't want to have to submit paperwork every time I take in the truck. I'd rather just pay my deductable and let the dealership take care of the rest.

Thanks for any suggestions!