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I am on the fence, 30 mile under 40,000 miles. I was quoted 4,700.00 from EasyCare. Anyone brought one that used it? I am leaning not buying it. Please give me your thoughts.
 

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How much longer until the lease is up? That is a ton of $$$ to cover a car you don't own.

I always thought one of the advantages of leasing is that you get rid of the car before the warranty is up since most leases are only 3-4 years. Am I missing something?
 

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Next year, at that point I am buying the car. The warranty is for 3 year 36,000 miles. It has been a great car and could see keeping for the 3 years.
 

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Never buy an extended warrenty. It is a complete gamble and the odds are with the house.

Essentially extended warrenty companies charge a rate at which they know they will never have to fully pay back. If they didn't they couldn't stay in business.

So if you give them your cash then you are making monthly payments on repairs that you are likely to never need.

Off chance you do need major repairs----- good luck getting any extended warrenty company to pay out without a legal fuss.

You might as well take the cash to vegas.
 

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Put that 4700 in the bank.... you'll have it if you need it for a repair, and you won't have to fight with yourself to make a claim should need to do so ;)
 

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I have an extended through GEICO on the CS and our A3. It is not overly expensive, covers all major mechanical with a $250 deductible. The kicker is though that you have to buy it in the firsts year of ownership (that is where they make their money because of the overlap with the standard warranty).
 

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I have a fidelity platinum 100.00 co-pay. Never used it, but its good for re-sale as it is transferable. With a 250.00 dealer oil change i justified the expense with the potential for tremendous out of pocket expense maybe more than I paid for the warranty on the first major repair. The car has been reliable, but you never know. Also the factory warranty was figured into the purchase price set by the manufacturer...so no difference in my opinion. Just search this forum for owners who have experienced problems....You may mirror these unfortunate defects also.
 

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I am on the fence, 30 mile under 40,000 miles. I was quoted 4,700.00 from EasyCare. Anyone brought one that used it? I am leaning not buying it. Please give me your thoughts.
Easy care is a great company, but $4,700 is a lot of money, I don't care who you are. I'm guessing that price is with the standard $100 deductible for the Total Care? You can shave about $1000 off that price if you go with the $250 ded and another $500 if you go with the $500 ded. So for about $3k, you will have your 3 more years of coverage. Still not cheap, but if there is a major issue, you're covered.
 

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Never buy an extended warrenty. It is a complete gamble and the odds are with the house.

Essentially extended warrenty companies charge a rate at which they know they will never have to fully pay back. If they didn't they couldn't stay in business.

So if you give them your cash then you are making monthly payments on repairs that you are likely to never need.

Off chance you do need major repairs----- good luck getting any extended warrenty company to pay out without a legal fuss.

You might as well take the cash to vegas.
I'm sorry, but you are wrong here. The money you pay for a warranty has nothing to do with what you get back. It is basically group insurance. The premium you pay today, pays for claims that are out there today. They make money by selling more contracts today than the number of claims they will have today and so on. The cost of a warranty is based on the average risk of a repair and the average cost of a repair.
Just as with health insurance, the higher the risk, the higher the premium.
Porsches are very expensive to repair when needed, so the premiums are higher than for the average car.
As far as having claims covered, every state has laws governing insurance. If you buy an insurance product and have a claim for a covered component, you cannot be denied coverage unless you break the conditions of the contract. If you buy coverage from a reputable company, you will not have claim issues. October 30, 2008, Motor Trend listed Easy Care as a "Recommended Best Buy" That is the first, and I am pretty sure only time this has happened....check it out.
Dave
 

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A recent issue of Consumer Reports stated to avoid ALL automotive extended warranty companies/coverages.

In short, they do not pay as often and as much as they should.

This is an unregulated side of the insurance business. They have an enormous market to tap into and they know this. They like to change names, go out of business and all of the other bate and switch tactics.

They prey on the fear of unexpected expenses for car repairs. And, as we know with our Porsche's... can be a bit much.

They care not about loosing clients because the marketplace is so big. Therefore, customer services is of no concern for them...after they have your $4700.00

Here is what you do. Put the $4700 in a separate unexpected car expense account bearing some interest. Chances are after the period of time offered by the extended warrenty people, you will be ahead of the game because that is what it is...a game.
 

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Motor Trend, like all magazines, is beholden to its advertisers. I'll bet Easy Care is a Motor Trend advertiser.

My opinion, after much research over the last couple of years, is that aftermarket extended warranties are not worth it. The risk of covered repairs (not all repairs are covered) is minimal after the factory warranty runs out.
 

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My opinion on extended warranties is that it is a risk/reward personal decision.

Sure, the companies make money by, on average, paying out less per customer than they charge. On the other hand, if you have a catastrophic repair charge (blown engine), you will come out ahead. It's pretty much the same for all insurance: homeowners, car insurance, health insurance. Most of us will never get full value for our homeowners insurance, but we're covered if the house burns down.

So the personal decision is: "Do I want to pay for something that I will probably never get full value for, but I'm covered if something catastrophic happens?"

As for the consumer reports statement that they don't pay as often as they should, there is some truth to that. I had an extended policy on one car, and I got the idea that their SOP was to deny every claim right off the bat. Even when I made a claim that was clearly covered, they denied it. I had to fight to get these items covered, but I won the fights every time. I think they do this in the hopes that you won't fight them.
 

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I just flipped through about 10 Motor Trend magazines and found no advertising for Easy Care...........
Well, maybe it's a legitimate endorsement then. Still, I don't think it's a good deal.

But, if one isn't bothered by the cost and it helps ya sleep at night, go for it.
 

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It is the most used warranty comp. nationwide for Porsche dealers the $ amount is a bit much the finance dept guy and gals this is there bread and butter I paid 2250 with a $50 deductible but many factors are involved Milage being foremost nad your relationship with your dealer 1st car or do you have history. Both my wifes car and my CS are locked in for the next 8 yrs as far as renewing at the same price but these make 11 for us all but one with the same dealership and the other ordered through them just picked up in Germany. But as to your question Platinum plus is as good as the factory warranty and in the long run one major breakdown and you will either feel it or be covered!
 

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I had hoped after reading this thread I'd have a clear direction as to whether I should purchase an extended warranty for my 07. I can certainly understand the foolishness of buying an extended warranty while a good portion of the factory warranty is still in effect. But my factory warranty is set to expire in April. I plan on keeping the car at least two more years if not three or four. The way I see it, the extended warranty is no different than an insurance policy; you hope you never have to use it but are happy if it's needed.

My biggest worry with buying an extended warranty is all the loopholes and fine print. It seems if I do have to make a claim there are so many requirements and restrictions to be met before the claim is paid.

I'm looking at the Platinum Coverage ( 4yrs, 75K miles) for $1,500.00 offered by Allied Solutions issued through Mercury Insurance Group. Has anyone had a claim through this company? If so, what was the outcome? Hassle-free claim or had to fight tooth and nail to get a dime?

If you have the time, here's what's not covered and the conditions of coverage:

SECTION III. WHAT IS NOT COVERED
NOT ALL COMPONENTS OF YOUR VEHICLE ARE COVERED BY THIS CONTRACT. THE COMPONENTS AND CONDI- TIOnS lISTeD BelOW aRe SPeCIfICallY nOT COVeReD BY The TeRMS Of ThIS COnTRaCT:
1. REPAIR OR REPLACEMENT OF COMPONENTS THAT ARE RECOMMENDED OR REQUIRED SOLELY BY THE ENACTMENT OF ANY LOCAL, STATE, OR FEDERAL LAW, RULE OR REGULATION. NOR DOES THIS CONTRACT COVER ANY REPAIR OR REPLACEMENT OF COMPONENTS RECOMMENDED OR REQUIRED SOLELY BY A MANUFACTURER’S TECHNICAL BULLETIN OR MANUFACTURER UPDATE WHEN NO FAILURE HAS OCCURRED.
2. NON-MECHANICAL, NON-ELECTRICAL, NON-PNEUMATIC OR NON-HYDRAULIC COMPONENTS; AUDIO SPEAKERS; BATTERIES; WATER AND WIND/AIR LEAKS; BUMPERS; CABLES; CHASSIS; CLAMPS; FASTENERS (i.E., NUTS, BOLTS, STUDS, CLIPS, ETC.)[1); CONVERTIBLE TOPS AND THEIR MECHANISMS[2]; EXHAUST/EGR SYSTEM; AIR PUMP AND CATALYTIC CONVERTER, PCV SYSTEM; FUEL VAPOR RECOVERY SYSTEM; GASOLINE FUEL INjEC- TORS THAT DO NOT HAVE AN ELECTRICAL FAILURE; GLASS; HOSES; LINES AND FITTINGS[3]; MIRRORS[4]; MANUAL CLUTCH COMPONENTS; PASSENGER/DRIVER RESTRAINT SYSTEMS; SEAT COMPONENTS[5]; SECONDARY IGNITION
7074 PDWL 0607 PAGE 3
Sample Contract
COMPONENTS; SUSPENSION SPRINGS; TELEPHONES; TORSION BARS; WHEELS; INTERNET COMPUTER; TELEM- ATIC SERVICES AND DEVICES (i.E., ONSTAR); NAVIGATION SYSTEM[6]; VIDEO COMPONENTS[6]; HEADS-UP DISPLAY[6]; NIGHT VISION SYSTEMS[6].
SUBSECTION 2 NOTES
[1] FASTENERS (I.E., NUTS, BOLTS, STUDS, CLIPS, ETC.) ARE COVERED IN CONjUNCTION WITH A COVERED REPAIR.
[2] COnVeRTIBle TOP COMPOnenTS: OnlY eleCTRIC COnVeRTIBle TOP MOTOR IS COVeReD.
[3] BRake lIneS/fITTIngS: OnlY MeTal BRake lIneS/fITTIngS aRe COVeReD. fUel lIneS: OnlY MeTal FUEL LINES ARE COVERED.
[4] MIRRORS: OnlY MIRROR MOTORS aRe COVeReD. [5] SeaT COMPOnenTS: OnlY SeaT TRaCkS, MOTOR, anD TRanSMISSIOn aRe COVeReD. [6] NAVIGATION SYSTEM, VIDEO COMPONENTS, HEADS-UP DISPLAY, AND NIGHT VISION SYSTEMS ARE
COVERED ONLY WHEN YOU HAVE PURCHASED THE SPECIAL ELECTRONICS PACKAGE.
3. UPDATES; CLEANING; NON-PUBLISHED DIAGNOSTIC LABOR; FILTERS/FLUIDS/LUBRICANTS/REFRIGERANTS[1]; A/C ACCUMULATOR/DRIER[2]; FUSES; LIGHTS/BULBS/LENSES ASSEMBLIES; WEAR ITEMS; ACCESSORY DRIVE BELTS; BRAKE PADS/SHOES/DRUMS/ROTORS; SHOCKS; STRUTS; TIMING BELTS THAT ARE WORN OR STRETCHED; AND WIPER BLADES.
SUBSECTION 3 NOTES [1] FILTERS/FLUIDS/LUBRICANTS/REFRIGERANTS ARE COVERED IN CONjUNCTION WITH A COVERED REPAIR. [2] A/C ACCUMULATOR/DRIER ARE COVERED IN CONjUNCTION WITH COMPRESSOR REPLACEMENT.
4. ANY COMPONENT NOT SUPPLIED AS ORIGINAL EQUIPMENT BY THE VEHICLE MANUFACTURER.
5. POWERTRAIN WARRANTY COMPONENTS AND/OR DIESEL ENGINE WARRANTY COMPONENTS IF YOU SELECTED AND PAID FOR THE POWERTRAIN WRAP COVERAGE, POWERTRAIN EXCLUSION COVERAGE, AND/OR THE DIESEL ENGINE WARRANTY WRAP COVERAGE AS SHOWN ON YOUR APPLICATION.
NORMAL MAINTENANCE AND SERVICE ITEMS; ALIGNMENTS; ADjUSTMENTS; CALIBRATIONS; SOFTWARE
6.
7.
anY MeChanICal BReakDOWn OR DaMage:
A. CAUSED BY RUST, CORROSION, OXIDATION, CONTAMINATION, SLUDGE, OR RESTRICTED OIL PASSAGES;
B. CAUSED BY IMPROPER AMOUNTS OR IMPROPER TYPES OF LUBRICANTS, COOLANTS, REFRIGERANTS OR FILTERS;
C. IF PRIOR AUTHORIzATION IS NOT GIVEN BY US PRIOR TO REPAIRS BEING PERFORMED (SEE CONDITIONS OF COVERAGE);
D. RESULTING FROM MISUSE OF, ALTERATION OF, TAMPERING WITH, DISCONNECTION OF, MISCHIEF OR VANDALISM TO, THE VEHICLE OR ANY OF ITS COMPONENTS; OR DAMAGES RESULTING FROM COLLI- SION, ACCIDENTS, WATER, FIRE, FREEzING, ACTS OF GOD, OR THEFT;
E. IF MAINTENANCE RECORDS HAVE BEEN REQUESTED BY US BUT CANNOT BE PRODUCED OR VERIFIED;
F. THAT EXISTS PRIOR TO THE EFFECTIVE DATE OF THIS CONTRACT, THAT OCCURS OR IS REPORTED AFTER THE EXPIRATION OF THIS CONTRACT, OR THAT OCCURS DURING THE VEHICLE MANUFACTURER’S WARRANTY PERIOD; THAT OCCURS DURING A REPAIRER’S GUARANTEE; OR THAT OCCURS DURING A PARTS WARRANTY;
G. IF YOUR VEHICLE’S ODOMETER IS INOPERATIVE, HAS EVER BEEN ALTERED OR TAMPERED WITH, OR THE ACTUAL ACCUMULATED MILEAGE CANNOT BE DETERMINED;
H. DUE TO CONTINUED OPERATION OF YOUR VEHICLE, OR FAILURE TO USE REASONABLE MEANS TO PROTECT YOUR VEHICLE FROM FURTHER DAMAGE, AFTER A FAILURE OCCURS (SEE CONDITIONS OF COVERAGE);
I. CAUSED BY ENGINE OVERHEATING OR LACK OF LUBRICATION DUE TO FAILURE OF A NON-COVERED COMPONENT.
We WIll nOT COVeR anY Of The fOllOWIng:
A. B.
C.
ANY RESULTING OR CONSEQUENTIAL DAMAGE TO A NON-COVERED COMPONENT, OR CAUSED BY, A NON-COVERED COMPONENT;
ANY CHARGES, COSTS, EXPENSE, INCONVENIENCE, LOSS OF TIME, LOSS OF INCOME OR ANY OTHER CONSE- QUENTIAL LOSSES ARISING FROM A MECHANICAL BREAKDOWN NOT SPECIFICALLY COVERED BY THIS CONTRACT, OR ANY OTHER EXPENSES YOU INCUR NOT SPECIFICALLY COVERED BY THIS CONTRACT; If YOUR VehICle IS USeD fOR, eqUIPPeD fOR OR IDenTIfIeD aS a: SnOW PlOW, RaCIng, eMeRgenCY, DELIVERY VEHICLE, OR COMMERCIAL VEHICLE (LIMITED COMMERCIAL USE IS AVAILABLE ONLY IF THE PROPER SURCHARGE HAS BEEN PAID);
PAGE 4
7074PDW 0607
Sample Contract
D. GRINDING OF VALVES OR OTHER COMPONENT REPAIRS TO IMPROVE COMPRESSION OR CORRECT OIL CONSUMPTION WHEN A DEFINED MECHANICAL BREAKDOWN HAS NOT OCCURRED;
E. IF ANY ALTERATIONS OR MODIFICATIONS HAVE BEEN MADE TO YOUR VEHICLE, OR YOU ARE USING OR HAVE USED YOUR VEHICLE IN A MANNER NOT RECOMMENDED BY THE MANUFACTURER (EXAMPLES InClUDe, BUT aRe nOT lIMITeD TO: anY CUSTOM OR aDD-On PaRT; all fRaMe OR SUSPenSIOn MODI- FICATIONS; LIFT KITS; OVERSIzED TIRES; HEAVY DUTY TRAILER HITCHES; EMISSIONS AND/OR EXHAUST SYSTEMS MODIFICATIONS; ENGINE MODIFICATIONS; ENGINE OVER-REVVING; IMPROPER SHIFTING).
IN THE SITUATIONS COVERED BY 6.E., 6.G., 7.C. AND 7.E ABOVE, OR IN THE EVENT YOUR VEHICLE IS REPOSSESSED, HAS EVER BEEN DECLARED A TOTAL LOSS, IS A SALVAGE OR REBUILT VEHICLE, WE MAY CANCEL THIS CONTRACT. ALSO, SEE THE PROVISIONS CONTAINED IN SECTION V. GENERAL PROVISIONS, SUBSECTION I. CANCELLATION.
SECTION IV. CONDITIONS OF COVERAGE You have specific duties that must be performed by You before We will be liable for payment of claims under the terms of this
Contract. They include:
1. VehICle MaInTenanCe: A. You MUST follow the instructions contained within Your Vehicle owner’s manual regarding proper operation and all
maintenance services scheduled and/or recommended by Your Vehicle’s manufacturer. Your Vehicle manufacturer’s
mileage recommendations will be considered the maximum allowable interval between service requirements. B. You MUST retain Maintenance Records, as defined herein. If You perform maintenance on the Vehicle Yourself, You must maintain a log showing the date, mileage and type of maintenance service performed. You must also keep
receipts for the purchase of the products used to perform the maintenance service (e.g., lubricants and filters). C. In the event of a Mechanical Breakdown, You may be requested to provide all Maintenance Records proving that
proper maintenance has been performed before a Mechanical Breakdown for certain components will be covered under this Contract, regardless of where or by whom maintenance is performed.
D. CaUTIOn: failure to provide all requested Maintenance Records may cause denial of benefits under this Contract. A Routine Maintenance and Repair Log is provided to assist You in recording the maintenance services performed on Your Vehicle, regardless of where and by whom the maintenance is performed.
Refer to Your Vehicle manufacturer owner’s manual for all recommended maintenance services. If You do not have a Vehicle owner’s manual, You may either purchase one from a franchise dealer or You may contact Us and We will provide information to You regarding recommended maintenance service information, when it is available.
2. WhaT TO DO When a BReakDOWn OCCURS: You are responsible for all expenses and Repair Costs if it is determined that the Mechanical Breakdown is not covered by the terms of this Contract. If Your Vehicle has a Mechanical Breakdown:
A. You MUST use all reasonable means to protect Your Vehicle from further damage. Example: Activated warning lights, such as oil or temperature lights in the dashboard, indicate that You should stop operating Your Vehicle immediately. If Your Vehicle is disabled, or if it is unsafe to continue to drive Your Vehicle, You may wish to arrange for towing.
B. You MUST have the repair facility contact Us immediately after the Vehicle is brought in for service, and again when a cause of failure and Repair Cost is determined during Our normal business hours (Monday through Friday, 8:00 a.m. - 7:00 p.m., Central Time). It is Your responsibility to authorize the repair facility to perform any diagnosis or tear- down that is necessary to determine the cause of failure and Repair Cost. National Claims Service toll-free number is 1-800-654-8455.
C. We may require inspections of the Vehicle to verify the reported cause of failure and extent of the damage. D. You MUST NOT authorize repairs until We verify that the Mechanical Breakdown is covered by this Contract and We
have issued an approval number. Maintenance Records may be requested from You before an approval number can be issued.
E. If payment for an authorized claim is not made to an authorized repair facility, We will reimburse You directly. To receive reimbursement of Your authorized claim, please mail a copy of the paid receipt itemizing the charges You paid. The receipt must also include Your signature, the date of repair, the odometer reading, the Prior Authorization number, Your telephone number, Vehicle Identification Number, and the identity of the repairer. You are responsible for any expenses that are not covered by this Contract, including the Deductible.
F. Documents requesting reimbursement for Your authorized claim must be received within 180 days of the date We provided the approval number. If the required documentation is not received within that time, Your claim will be denied.
 

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Put that 4700 in the bank.... you'll have it if you need it for a repair, and you won't have to fight with yourself to make a claim should need to do so ;)
This is a great idea or put 1-2K in a bank account and add to it each month. Then use this money to fund any repairs.
 

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I had hoped after reading this thread I'd have a clear direction as to whether I should purchase an extended warranty for my 07.
Really! Look at all the topics that require opinion and you will find them full of differing ones, that's what makes forums fun.
There is no right answer; if you pay for it and nothing happens, it's money spent on peace of mind maybe, if you don't get it and don't save for repairs you are going to be kicking yourself if something happens.

This is a great idea or put 1-2K in a bank account and add to it each month. Then use this money to fund any repairs.
This is a great idea if you have the willpower to do it. Most of us realize that we are weak willed consumers and will always find other things to do with that "extra" money. If this wasn't the case I would not be buying a new Boxster S as that money would be far better invested in something other than a rapidly depreciating asset!!
 

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I only recommend or consider buying them at time of purchase, but most people dont take advantage of the oppurtunity and the price is much less. You're basically counting on the vehicle costing you more than $1500 per year in repairs (not maintenance) the next 3 years. Personally, if the car is that un-reliable i would not keep it for an additional 3 years. I'd say "bank" your $4700...;)
 

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Hi
Agree with Dave Insurance is not about ROI its a numbers game and peace of mind ( if you have a reputable contract ).How may people actually want to cash in on life insurance ( well maybe thats more of a beer discussion :) )...its a gamble if you buy it and dont use it..its a gamble if you dont buy it and your staring at a $10K blown engine..probabilities and numbers...
Thanks
Nick
 
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