When to buy Car extended warranty ?

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hawksfan82
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When to buy Car extended warranty ?

Post by hawksfan82 » Wed Nov 06, 2019 10:07 pm

I am buying 2018 Mercedes C43 - which is still under factory warranty for another ~2 years ( October 2021 )
Dealer quoted $4000 for 6 years bumper to bumper extended warranty - but this warranty starts right now. Not after original factory warranty expires.
Same deal with CarMax too - they sell warranty but it starts immediately.

Question:
Does it make sense to wait until October 2021 - then shop for warranty ?
I am just worried that this warranty cost goes up as the car ages. Am I better off buying right now and have double coverage.

Rosencrantz1
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Re: When to buy Car extended warranty ?

Post by Rosencrantz1 » Wed Nov 06, 2019 10:23 pm

I never buy extended warranties on my vehicles. Are you absolutely set on the Mercedes C43? If so, I'd carefully evaluate its repair record and the repair/reliability record of Mercedes in general and then determine whether an extended warranty is needed ( off the top of my head, I'd suggest that Mercedes doesn't have the repair/reliability record of - say - a Lexus model). I believe (but, do not know for certain) that most auto warranty products are sold at some discounted price IF purchased while the manufacturer warranty is still in force. Hope that helps...

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hawksfan82
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Re: When to buy Car extended warranty ?

Post by hawksfan82 » Wed Nov 06, 2019 10:42 pm

Rosencrantz1 wrote:
Wed Nov 06, 2019 10:23 pm
I never buy extended warranties on my vehicles. Are you absolutely set on the Mercedes C43? If so, I'd carefully evaluate its repair record and the repair/reliability record of Mercedes in general and then determine whether an extended warranty is needed ( off the top of my head, I'd suggest that Mercedes doesn't have the repair/reliability record of - say - a Lexus model). I believe (but, do not know for certain) that most auto warranty products are sold at some discounted price IF purchased while the manufacturer warranty is still in force. Hope that helps...
Yeah - I want to try AMG once and I don't trust german cars to be reliable.

Jack FFR1846
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Re: When to buy Car extended warranty ?

Post by Jack FFR1846 » Wed Nov 06, 2019 10:54 pm

Look into some of the Mercedes enthusiast sites. I know other brands, but not Mercedes. With the ones I'm familiar with, you can buy a factory extended warranty so long as the car is still within the time/miles of the original bumper to bumper factory warranty. There also are usually dealers who will sell this for far less than list price. If it were a Subaru, I could tell you the dealer to contact. In that case, once the vehicle is out of bumper to bumper warranty, they won't sell you a factory extended warranty at any price.
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bottlecap
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Re: When to buy Car extended warranty ?

Post by bottlecap » Wed Nov 06, 2019 11:05 pm

Sure. Lots of people gamble against the house. It works for a few.

JT

logiclife
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Re: When to buy Car extended warranty ?

Post by logiclife » Wed Nov 06, 2019 11:14 pm

You know what, it's funny but I bought an extended warranty for my 2012 Honda crv, and guess what, despite the reputed quality it had I got my monies worth on the warranty as I used it multiple times..Eventually I sold my crv.


So my point is its hard to tell, just have to roll the dice my friend good luck

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Re: When to buy Car extended warranty ?

Post by Rdytoretire » Wed Nov 06, 2019 11:40 pm

I would not buy it. Most dealers are terrible about fixing any vehicle under warranty even under the original new car warranty. The dealer will tell you he cannot find anything wrong with the vehicle when you bring it in for service under warranty. But if the vehicle is out of warranty he will find all kinds of things wrong. I am glad my new car warranty finally expired.


Much better to save the $4000 for repairs. If the vehicle is reliable you should come out ahead. If it turns out to not be reliable don't ever buy another Mercedes.

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Re: When to buy Car extended warranty ?

Post by msk » Thu Nov 07, 2019 1:36 am

I would definitely buy an extended warranty for a higher end Mercedes or BMW. These cars can be horrendously expensive to repair and it may also be difficult to get a bumper to bumper warranty extension. E.g for my Mercedes S560 I paid $2k to extend the warranty from 3 years to 5, but the extension does NOT cover electronics! Check the fine print... My feeling is that they really ought to include a bumper to bumper factory warranty to 6 years and simply raise the sale price by a few percent. Perhaps they know something about the possible repair bills?

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sk2101
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Re: When to buy Car extended warranty ?

Post by sk2101 » Thu Nov 07, 2019 7:16 am

I am always against extended warranties but in this case you should absolutely buy it.

It is probably easier to just buy it now and be done with it. Look who is the provider of the warranty, make sure it is a reputable company and that you can take it to a MB dealership. Pay attention to what's covered and deductibles.

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Re: When to buy Car extended warranty ?

Post by mmmodem » Thu Nov 07, 2019 7:41 am

I think it's obvious to purchase the warranty in two years time after the factory warranty expires but I've never heard of buying extended bumper to bumper warranties years after you purchased the car.

Let's simplify the numbers a little. Given factory warranty is in place for another 2 years. What you're really paying for is $4000 on a 4 year extended warranty on a 4 year old C43 worth about $30k.

I would look at your previous vehicle to see if it is worth it. Did you own your previous car less than 3 or 4 years? If the answer is yes, then you're likely going to sell the C43 anyway in 3 years time. The buyer of your C43 isn't likely to value the warranty at $4000.

stan1
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Re: When to buy Car extended warranty ?

Post by stan1 » Thu Nov 07, 2019 7:45 am

If you want the extended warranty:
1) Only buy an official Mercedes branded warranty (not a third party warranty dealers often prefer to sell you)
2) Make sure it covers most of the electroncis
3) Negotiate the price down. Target 33-50% off the first number they give you.

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RootSki
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Re: When to buy Car extended warranty ?

Post by RootSki » Thu Nov 07, 2019 7:52 am

I used to be one of those "never buy an extended warranty" person. That was until I bought a 2019 CPO Volvo XC60 plug-in electric hybrid that is loaded with all kinds of electronics. I extended my warranty through Volvo but a different dealer from where I bought the car. 10 years/unlimited milage warranty gives me peace of mind that I can keep this car as long as I want to, or sell it if I feel the technology is too outdated in a few years. The warranty I bought is OEM so if I do sell the car, I can transfer the warranty to the new owner, or receive a pro-rated return on the unused period.

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Brianmcg321
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Re: When to buy Car extended warranty ?

Post by Brianmcg321 » Thu Nov 07, 2019 8:04 am

Never.
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corn18
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Re: When to buy Car extended warranty ?

Post by corn18 » Thu Nov 07, 2019 8:09 am

We just bought a 2020 BMW X3 and are going through the thought process. The car MSRP was $68k. The factory warranty is 4 years / 50,000 miles. For another $12k, we could have everything covered for 7 years / 100,000 miles. $12k includes wheels and windshield coverage. A new windshield is $2400 because of all the sensors in them now. We don't have to decide for 4 years.

If I were you, keep researching cost of minor/major repairs and decide from there. For us, if we still love the car in 4 years, we will get some sort of warranty. Maybe just one to cover the really expensive stuff.
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perplexed
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Re: When to buy Car extended warranty ?

Post by perplexed » Thu Nov 07, 2019 8:20 am

RootSki wrote:
Thu Nov 07, 2019 7:52 am
I used to be one of those "never buy an extended warranty" person. That was until I bought a 2019 CPO Volvo XC60 plug-in electric hybrid that is loaded with all kinds of electronics. I extended my warranty through Volvo but a different dealer from where I bought the car. 10 years/unlimited milage warranty gives me peace of mind that I can keep this car as long as I want to, or sell it if I feel the technology is too outdated in a few years. The warranty I bought is OEM so if I do sell the car, I can transfer the warranty to the new owner, or receive a pro-rated return on the unused period.
May I ask how much did the 10 year warranty cost on the Volvo? Also, is it bumber to bumper? Since you mentioned electronics, I would assume so.

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Re: When to buy Car extended warranty ?

Post by Jack FFR1846 » Thu Nov 07, 2019 8:20 am

corn18 wrote:
Thu Nov 07, 2019 8:09 am
We just bought a 2020 BMW X3 and are going through the thought process. The car MSRP was $68k. The factory warranty is 4 years / 50,000 miles. For another $12k, we could have everything covered for 7 years / 100,000 miles. $12k includes wheels and windshield coverage. A new windshield is $2400 because of all the sensors in them now. We don't have to decide for 4 years.

If I were you, keep researching cost of minor/major repairs and decide from there. For us, if we still love the car in 4 years, we will get some sort of warranty. Maybe just one to cover the really expensive stuff.
But comprehensive insurance, which will cover a windshield is what? Looking at my insurance coverage sheet (it's posted on my wall), that's $45 a year. That covers theft and vandalism and other things as well.
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corn18
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Re: When to buy Car extended warranty ?

Post by corn18 » Thu Nov 07, 2019 8:21 am

Jack FFR1846 wrote:
Thu Nov 07, 2019 8:20 am
corn18 wrote:
Thu Nov 07, 2019 8:09 am
We just bought a 2020 BMW X3 and are going through the thought process. The car MSRP was $68k. The factory warranty is 4 years / 50,000 miles. For another $12k, we could have everything covered for 7 years / 100,000 miles. $12k includes wheels and windshield coverage. A new windshield is $2400 because of all the sensors in them now. We don't have to decide for 4 years.

If I were you, keep researching cost of minor/major repairs and decide from there. For us, if we still love the car in 4 years, we will get some sort of warranty. Maybe just one to cover the really expensive stuff.
But comprehensive insurance, which will cover a windshield is what? Looking at my insurance coverage sheet (it's posted on my wall), that's $45 a year. That covers theft and vandalism and other things as well.
Good point on insurance. Hadn't thought about that.
Don't do something, just stand there!

Kagord
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Re: When to buy Car extended warranty ?

Post by Kagord » Thu Nov 07, 2019 8:28 am

What's your end game, to still have a Mercedes at the end of the extended warranty? I'd just follow what the majority do.

Lease: BMW, Mercedes, Audi (with a full bumper to bumper warranty for lease period)
Buy: Lexus, Acura
Avoid: Infinity

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RootSki
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Re: When to buy Car extended warranty ?

Post by RootSki » Thu Nov 07, 2019 8:35 am

perplexed wrote:
Thu Nov 07, 2019 8:20 am
RootSki wrote:
Thu Nov 07, 2019 7:52 am
I used to be one of those "never buy an extended warranty" person. That was until I bought a 2019 CPO Volvo XC60 plug-in electric hybrid that is loaded with all kinds of electronics. I extended my warranty through Volvo but a different dealer from where I bought the car. 10 years/unlimited milage warranty gives me peace of mind that I can keep this car as long as I want to, or sell it if I feel the technology is too outdated in a few years. The warranty I bought is OEM so if I do sell the car, I can transfer the warranty to the new owner, or receive a pro-rated return on the unused period.
May I ask how much did the 10 year warranty cost on the Volvo? Also, is it bumber to bumper? Since you mentioned electronics, I would assume so.
It was less than $3K. $2700ish maybe? I should add I have a $100 co-pay on warranty repairs in 2024. Here's a link to a pfd of what's covered. It's a lot, but not all inclusive. https://pictures.dealer.com/steingoldvo ... 178aef.pdf

Galaxy8
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Re: When to buy Car extended warranty ?

Post by Galaxy8 » Thu Nov 07, 2019 8:36 am

Jack FFR1846 wrote:
Wed Nov 06, 2019 10:54 pm
Look into some of the Mercedes enthusiast sites. I know other brands, but not Mercedes. With the ones I'm familiar with, you can buy a factory extended warranty so long as the car is still within the time/miles of the original bumper to bumper factory warranty. There also are usually dealers who will sell this for far less than list price. If it were a Subaru, I could tell you the dealer to contact. In that case, once the vehicle is out of bumper to bumper warranty, they won't sell you a factory extended warranty at any price.
As a Subaru owner still under factory warranty, I would happily take the referral. :sharebeer

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Re: When to buy Car extended warranty ?

Post by smitcat » Thu Nov 07, 2019 8:41 am

corn18 wrote:
Thu Nov 07, 2019 8:09 am
We just bought a 2020 BMW X3 and are going through the thought process. The car MSRP was $68k. The factory warranty is 4 years / 50,000 miles. For another $12k, we could have everything covered for 7 years / 100,000 miles. $12k includes wheels and windshield coverage. A new windshield is $2400 because of all the sensors in them now. We don't have to decide for 4 years.

If I were you, keep researching cost of minor/major repairs and decide from there. For us, if we still love the car in 4 years, we will get some sort of warranty. Maybe just one to cover the really expensive stuff.
At $12,000 for another 50K miles after the first 4 years I would consider replacing the car at or near the end of the 4 years.
Might be a better use of funds.

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RootSki
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Re: When to buy Car extended warranty ?

Post by RootSki » Thu Nov 07, 2019 8:46 am

corn18 wrote:
Thu Nov 07, 2019 8:09 am
We just bought a 2020 BMW X3 and are going through the thought process. The car MSRP was $68k. The factory warranty is 4 years / 50,000 miles. For another $12k, we could have everything covered for 7 years / 100,000 miles. $12k includes wheels and windshield coverage. A new windshield is $2400 because of all the sensors in them now. We don't have to decide for 4 years.

If I were you, keep researching cost of minor/major repairs and decide from there. For us, if we still love the car in 4 years, we will get some sort of warranty. Maybe just one to cover the really expensive stuff.
$12K is outrageous. Omg, I'm so glad I'm not into bimmers. That's a $4,000 a year insurance policy.

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Re: When to buy Car extended warranty ?

Post by Jags4186 » Thu Nov 07, 2019 8:51 am

You should definitely hunt around to see if you can do better. I have a Honda and at the time the dealer wanted to sell me an extended warranty for ~$1700 + tax.

A search online found that any Honda dealer can sell you the warranty which can be used at any Honda dealership. Out of state dealers were selling the same warranty for $600 and no sales tax. While I ended up not purchasing the warranty (60k miles in and I have not had a repair that would fall under any ‘warranty’) it is still something to consider looking into, especially for a Mercedes.

Best of luck.

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Re: When to buy Car extended warranty ?

Post by deltaneutral83 » Thu Nov 07, 2019 8:53 am

Bought 2004 Audi in 2007 with 23,000 miles. Had 8 months of factory warranty. Bought an aftermarket policy with additional 5 years for $2,400 plus $100 deduc per repair. Blew through $3k in repairs by the end of 18 months on the 5 year/60 month extended warranty. A window regulator from Audi was $700 and I had two go out in the 60 months of the extended warranty alone. Wound up with 6 repairs for $6600 + 6x100 deducs for a total of $7,200 in repairs which I paid $2,400+ 600= $3,000 over 58 months. Sold that car with the quickness just before the warranty was up. I'd never own a luxury car out of warranty. You have a $2k repair lurking each and every morning you wake up. On a Honda or Toyota I'd probably just chance it as they seem more reliable AND they repairs aren't expensive if need be.

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Re: When to buy Car extended warranty ?

Post by Tamarind » Thu Nov 07, 2019 8:59 am

I got a fairly good deal on a Hyundai extended warranty that covered all non-drivetrain items through 10yrs/100k mi. Drivetrain was covered by manufacturer's warranty for the same period.

I paid $1000 for the warranty because it was my first new car and a new model design so the reliability was not yet known. I'm a couple thousand miles shy of 100k mi and it looks like the house will win as the only thing I have needed was a hatch latch replacement for $400.

I would probably not purchase an extended warranty in future.

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Re: When to buy Car extended warranty ?

Post by abuss368 » Thu Nov 07, 2019 9:01 am

I have always passed over the years and knock on wood it has been a good decision. I also past on rust undercoating! As time has moved on the dealers have tried to make the warranties more attractive with adding certain maintenance packages.

I had a car that was subject to make updates and recalls. I simply sold it within a few years while still in the warranty phase.
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Watty
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Re: When to buy Car extended warranty ?

Post by Watty » Thu Nov 07, 2019 9:05 am

hawksfan82 wrote:
Wed Nov 06, 2019 10:07 pm
I am buying 2018 Mercedes C43 - which is still under factory warranty for another ~2 years ( October 2021 )
Dealer quoted $4000 for 6 years bumper to bumper extended warranty - but this warranty starts right now. Not after original factory warranty expires.

Be sure to spend some time understanding all the the details of the warranties.

The 6 year bumper to bumper extended is likely six years from the original purchase date, not when you buy the extended warranty.

I don't know about Mercedes but in addition to the normal three year full warranty most cars also have a 5 year 60k mile powertrain warranty that will cover most of the really big stuff.

For the power train the 6 year warranty may just extend the powertrain warranty for an additional year.

You could have things like AC repairs in year 4 through 6 that the extended warranty would cover but even with a Mercedes you can pay for a lot of work on things like that for $4,000.

You also have an emission warranty that may cover some components for up to 8 years, but that can vary by state.

I once had a car that was about 6 years old with 70k miles that would not start one evening, it did nothing when I turned the key. I had just moved to a new city and I did not have an independent mechanic so I had it towed to a dealership that was about a mile away. The next morning they said that they would call when they had an estimate. I had not heard from them by about lunch time so I was getting upset. I called them and they said that the car's computer was being replaced which was under the emission warranty and that it would be ready in about an hour at no charge. Since there was no charge they had not called to give an estimate before they started working on the car.. I didn't realize that it was still under the emission warranty.

rakamaka
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Re: When to buy Car extended warranty ?

Post by rakamaka » Thu Nov 07, 2019 9:06 am

Extended car warranty = Never
If you can afford to buy 40,000-60,000 car you should be financially able to keep aside 5000 for future maintenance.
if not buy 25,000 camry/accord and invest remaining in index funds. in this case you donot need extended warranty because camry/accord run forever with routine maintenance.
ask dealer to explain ALL exclusions from extended warranty contract and cost of repair for those EXCLUSIONS because it will come out of your pocket again.

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Re: When to buy Car extended warranty ?

Post by smitcat » Thu Nov 07, 2019 9:33 am

RootSki wrote:
Thu Nov 07, 2019 8:46 am
corn18 wrote:
Thu Nov 07, 2019 8:09 am
We just bought a 2020 BMW X3 and are going through the thought process. The car MSRP was $68k. The factory warranty is 4 years / 50,000 miles. For another $12k, we could have everything covered for 7 years / 100,000 miles. $12k includes wheels and windshield coverage. A new windshield is $2400 because of all the sensors in them now. We don't have to decide for 4 years.

If I were you, keep researching cost of minor/major repairs and decide from there. For us, if we still love the car in 4 years, we will get some sort of warranty. Maybe just one to cover the really expensive stuff.
$12K is outrageous. Omg, I'm so glad I'm not into bimmers. That's a $4,000 a year insurance policy.
Yup - or 24 cents per mile paid up front 4 years prior.

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Re: When to buy Car extended warranty ?

Post by smitcat » Thu Nov 07, 2019 9:38 am

deltaneutral83 wrote:
Thu Nov 07, 2019 8:53 am
Bought 2004 Audi in 2007 with 23,000 miles. Had 8 months of factory warranty. Bought an aftermarket policy with additional 5 years for $2,400 plus $100 deduc per repair. Blew through $3k in repairs by the end of 18 months on the 5 year/60 month extended warranty. A window regulator from Audi was $700 and I had two go out in the 60 months of the extended warranty alone. Wound up with 6 repairs for $6600 + 6x100 deducs for a total of $7,200 in repairs which I paid $2,400+ 600= $3,000 over 58 months. Sold that car with the quickness just before the warranty was up. I'd never own a luxury car out of warranty. You have a $2k repair lurking each and every morning you wake up. On a Honda or Toyota I'd probably just chance it as they seem more reliable AND they repairs aren't expensive if need be.
"A window regulator from Audi was $700 and I had two go out in the 60 months of the extended warranty alone"
And that is one of the ways they justify the large costs of insurance - perhaps look up the real cost of this regulator at Rock Auto and/or get a quote from a reasonable local repair shop tp see the difference.

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Re: When to buy Car extended warranty ?

Post by UALflyer » Thu Nov 07, 2019 9:57 am

Kagord wrote:
Thu Nov 07, 2019 8:28 am
What's your end game, to still have a Mercedes at the end of the extended warranty? I'd just follow what the majority do.

Lease: BMW, Mercedes, Audi (with a full bumper to bumper warranty for lease period)
Buy: Lexus, Acura
Avoid: Infinity
The fact that people still follow these silly rules of thumb is what makes it possible for the rest of us to drive much nicer cars for a lot less.

By the way, it is Infiniti, not Infinity. While we are at it, you may want to take a look at this thread, which will give you a glimpse into some of the things that you're missing with these rules of thumb: viewtopic.php?t=286087

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Re: When to buy Car extended warranty ?

Post by deltaneutral83 » Thu Nov 07, 2019 9:59 am

smitcat wrote:
Thu Nov 07, 2019 9:38 am

"A window regulator from Audi was $700 and I had two go out in the 60 months of the extended warranty alone"
And that is one of the ways they justify the large costs of insurance - perhaps look up the real cost of this regulator at Rock Auto and/or get a quote from a reasonable local repair shop tp see the difference.
I would have but I knew I could go to the repair shop of my choice with my $100 deduc, so I went to Audi, who does loaners as well, so there's value in that too in addition to having the dealer work on all the repairs. I had very few issues with the third party warranty company, it was simply pay the $100 deduc and all covered repairs went like clockwork. If one doesn't have a clear understanding of what their policy covers, I can see the trouble there, mine covered all non wear and tear items.

There is certainly some merit in doing the rock auto route but you have to have your mechanic lined up, or at least I feel that way. Most mechanics that work with a shop won't touch parts that aren't theirs (for obvious reasons) but I found one for another vehicle (Honda) to put in a compressor and it worked out fine but it took me some research and connections to find a mobile mechanic. A lot more mechanics work on Toyotas and Hondas vs the luxury cars as well in my experience. On the Honda, when I called and finally got a mechanic to work with parts that weren't the shop's, he still wanted to go by the book as far as hours and bill me the full rack of labor so that was a no go (i.e. compressor calls for like 8 hours for the compressor, condenser, expansion valve and I only had the compressor and expansion valve which doesn't require the front to be taken off and is a 60 minute job).

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Re: When to buy Car extended warranty ?

Post by smitcat » Thu Nov 07, 2019 10:19 am

deltaneutral83 wrote:
Thu Nov 07, 2019 9:59 am
smitcat wrote:
Thu Nov 07, 2019 9:38 am

"A window regulator from Audi was $700 and I had two go out in the 60 months of the extended warranty alone"
And that is one of the ways they justify the large costs of insurance - perhaps look up the real cost of this regulator at Rock Auto and/or get a quote from a reasonable local repair shop tp see the difference.
I would have but I knew I could go to the repair shop of my choice with my $100 deduc, so I went to Audi, who does loaners as well, so there's value in that too in addition to having the dealer work on all the repairs. I had very few issues with the third party warranty company, it was simply pay the $100 deduc and all covered repairs went like clockwork. If one doesn't have a clear understanding of what their policy covers, I can see the trouble there, mine covered all non wear and tear items.

There is certainly some merit in doing the rock auto route but you have to have your mechanic lined up, or at least I feel that way. Most mechanics that work with a shop won't touch parts that aren't theirs (for obvious reasons) but I found one for another vehicle (Honda) to put in a compressor and it worked out fine but it took me some research and connections to find a mobile mechanic. A lot more mechanics work on Toyotas and Hondas vs the luxury cars as well in my experience. On the Honda, when I called and finally got a mechanic to work with parts that weren't the shop's, he still wanted to go by the book as far as hours and bill me the full rack of labor so that was a no go (i.e. compressor calls for like 8 hours for the compressor, condenser, expansion valve and I only had the compressor and expansion valve which doesn't require the front to be taken off and is a 60 minute job).
"I would have but I knew I could go to the repair shop of my choice with my $100 deduc, so I went to Audi, who does loaners as well, so there's value in that too in addition to having the dealer work on all the repairs."
This is what closes the circle and justifies the prices.

"Most mechanics that work with a shop won't touch parts that aren't theirs"
Then of course let them buy the parts - the price will still be a small fraction of what you quoted.

deltaneutral83
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Re: When to buy Car extended warranty ?

Post by deltaneutral83 » Thu Nov 07, 2019 10:35 am

smitcat wrote:
Thu Nov 07, 2019 10:19 am


"I would have but I knew I could go to the repair shop of my choice with my $100 deduc, so I went to Audi, who does loaners as well, so there's value in that too in addition to having the dealer work on all the repairs."
This is what closes the circle and justifies the prices.

"Most mechanics that work with a shop won't touch parts that aren't theirs"
Then of course let them buy the parts - the price will still be a small fraction of what you quoted.
I guess so, but it's all a gamble as to your first scenario. I had $6,600 worth of work done at Audi that I paid $3,000 ($2,400+$600) and peace of mind along the way knowing I was covered over 58 months. Perhaps I could have not bought the warranty and spent a lot of time on the telephone and dealt with other independent routes with no warranty at all and came out less than $3,000(?); is this what you are inferring? That would also entail going to sleep every night knowing a $2,000 repair could greet me in the morning with an Audi with 80,000+ miles.

I may not be following your second comment, sounds like you are just suggesting no warranty at all and shelving the Rock Auto route and simply going with an independent mechanic for parts and labor? That scenario is usually a fine choice all things considered but didn't come close to being the better option for me in hindsight (which is 20/20). Again, I had $6,600 worth of dealer services for more than half off and sleeping well all along the way plus a loaner for each and every shop visit. I may be missing something you are suggesting however?

smitcat
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Re: When to buy Car extended warranty ?

Post by smitcat » Thu Nov 07, 2019 10:46 am

deltaneutral83 wrote:
Thu Nov 07, 2019 10:35 am
smitcat wrote:
Thu Nov 07, 2019 10:19 am


"I would have but I knew I could go to the repair shop of my choice with my $100 deduc, so I went to Audi, who does loaners as well, so there's value in that too in addition to having the dealer work on all the repairs."
This is what closes the circle and justifies the prices.

"Most mechanics that work with a shop won't touch parts that aren't theirs"
Then of course let them buy the parts - the price will still be a small fraction of what you quoted.
I guess so, but it's all a gamble as to your first scenario. I had $6,600 worth of work done at Audi that I paid $3,000 ($2,400+$600) and peace of mind along the way knowing I was covered over 58 months. Perhaps I could have not bought the warranty and spent a lot of time on the telephone and dealt with other independent routes with no warranty at all and came out less than $3,000(?); is this what you are inferring? That would also entail going to sleep every night knowing a $2,000 repair could greet me in the morning with an Audi with 80,000+ miles.

I may not be following your second comment, sounds like you are just suggesting no warranty at all and shelving the Rock Auto route and simply going with an independent mechanic for parts and labor? That scenario is usually a fine choice all things considered but didn't come close to being the better option for me in hindsight (which is 20/20). Again, I had $6,600 worth of dealer services for more than half off and sleeping well all along the way plus a loaner for each and every shop visit. I may be missing something you are suggesting however?
Whatever works for the person at the time is the best solution...
You paid about $2,400 for potential repairs that ended up costing $6,600 Audi dollars.
I have no idea whet those costs would have been at a reliable local mechanic shop but they would not be $6,600.
On 6 occasions you could not use your car due to unexpected repairs in maybe 5 years - that is incredible from our experiences.
I never would have bet that a car would need 6 visits and $6,600 in repairs based upon any averages we have seen.

Perhaps a lease would be a good solution for your application?

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corn18
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Re: When to buy Car extended warranty ?

Post by corn18 » Thu Nov 07, 2019 10:51 am

I am now officially scared to death of the future repair costs of our BMW. We bought it because we liked it and could afford it. We can also afford the repairs, but don't want to. We'll see how it holds up over the next 4 years under warranty. We have been Toyota and then Acura folks for decades and they have been awesome. Keep them 8-10 years and no big repairs. First BMW. Yikes! But they had free cookies in the showroom. I think I will eat all of them every time I visit.
Don't do something, just stand there!

MotoTrojan
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Re: When to buy Car extended warranty ?

Post by MotoTrojan » Thu Nov 07, 2019 10:55 am

Review every line of the warranty. Also be aware that they’ll try to spin it like it’s a factory warranty but it’s nearly always 3rd party and claims can be very difficult.

Lastly there is tons of margin. If you’re set on it I’d shop around and ask them if they’ll do $2500-3200.

barnaclebob
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Re: When to buy Car extended warranty ?

Post by barnaclebob » Thu Nov 07, 2019 11:00 am

FYI, warranty prices are negotiable.

When i purchased my last car they started out at $1400 for the warranty and dropped it a couple hundred after i said no a few times. Then I said that they probably wouldnt accept what i was willing to pay for it. That statement seemed to catch them off gaurd and they asked what i was willing to pay. I said $300. They replied that the best they can offer was $700 and then gave up.

deltaneutral83
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Re: When to buy Car extended warranty ?

Post by deltaneutral83 » Thu Nov 07, 2019 11:42 am

smitcat wrote:
Thu Nov 07, 2019 10:46 am

Whatever works for the person at the time is the best solution...
I agree but it's hard to know in advance which future outcome will be best!
You paid about $2,400 for potential repairs that ended up costing $6,600 Audi dollars.
It was $3,000 all in with deducs. I have no idea what those costs would have been at a reliable local mechanic shop but they would not be $6,600 and you are right. My Independent mechanics are all at $100ish an hour and Audi is $140 in my area for labor. So $40 an hour in labor extra and then parts. Audi uses OEM parts obviously so I'd conservatively say they charge 40% more. So as a whole, let's assume 40% more at Audi vs Independent mechanic. I still came out way ahead AND had a loaner with zero inconvenience on those 6 occasions.
On 6 occasions you could not use your car due to unexpected repairs in maybe 5 years - that is incredible from our experiences.
I never would have bet that a car would need 6 visits and $6,600 in repairs based upon any averages we have seen.
You're telling me! I'm still miffed about it and I won't be driving a luxury car over 80,000 miles any time soon but really glad I had the warranty
Perhaps a lease would be a good solution for your application?
Hondas and Toyotas all day long for me now, I wouldn't lease unless the terms made sense under my own math and about 9 out of 10 don't come close (for me)

Ependytis
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Re: When to buy Car extended warranty ?

Post by Ependytis » Thu Nov 07, 2019 12:57 pm

Product warranties are just insurance in case the product fails. Like all insurance it only makes sense to protect you from a catastrophic loss. After all the insurance company wouldn’t offer it unless they could make a profit. A car repair is not considered a catastrophic loss and if I did consider it a catastrophic loss I probably couldn’t afford the car to begin with.

perplexed
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Re: When to buy Car extended warranty ?

Post by perplexed » Thu Nov 07, 2019 3:31 pm

RootSki wrote:
Thu Nov 07, 2019 8:35 am
perplexed wrote:
Thu Nov 07, 2019 8:20 am
RootSki wrote:
Thu Nov 07, 2019 7:52 am
I used to be one of those "never buy an extended warranty" person. That was until I bought a 2019 CPO Volvo XC60 plug-in electric hybrid that is loaded with all kinds of electronics. I extended my warranty through Volvo but a different dealer from where I bought the car. 10 years/unlimited milage warranty gives me peace of mind that I can keep this car as long as I want to, or sell it if I feel the technology is too outdated in a few years. The warranty I bought is OEM so if I do sell the car, I can transfer the warranty to the new owner, or receive a pro-rated return on the unused period.
May I ask how much did the 10 year warranty cost on the Volvo? Also, is it bumber to bumper? Since you mentioned electronics, I would assume so.
It was less than $3K. $2700ish maybe? I should add I have a $100 co-pay on warranty repairs in 2024. Here's a link to a pfd of what's covered. It's a lot, but not all inclusive. https://pictures.dealer.com/steingoldvo ... 178aef.pdf
Thats really good, IMHO. I got a 5 year extension for my ACURA and it was 2.4K. So for a 10 year on Volvo this is a good price. Also, probably implictly shows that they are confident that repairs over 10 year extension wont exceed 3K, on average.

Helo80
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Re: When to buy Car extended warranty ?

Post by Helo80 » Thu Nov 07, 2019 4:43 pm

hawksfan82 wrote:
Wed Nov 06, 2019 10:07 pm
I am buying 2018 Mercedes C43 - which is still under factory warranty for another ~2 years ( October 2021 )
Dealer quoted $4000 for 6 years bumper to bumper extended warranty - but this warranty starts right now. Not after original factory warranty expires.
Same deal with CarMax too - they sell warranty but it starts immediately.

Question:
Does it make sense to wait until October 2021 - then shop for warranty ?
I am just worried that this warranty cost goes up as the car ages. Am I better off buying right now and have double coverage.


Is this the AMG version? If so, I'd be more inclined to purchase it.

The people that are saying "never" or "it's a waste of money" probably do not buy German luxury vehicles. In terms of engineering and design, I think Germany leads the way. I mean, there's Ferrari and Lambo that have better designs, but neither make practical daily drivers.

That being said, Germany (and Italy) truly produce some epic POS when it comes to maintenance --- and their high speed performance models sometimes have bugs and can be costly to repair. Land Rover as well --- beautiful and comfortable cars, but you may end up getting to know your service department very well on those after the standard warranty expires.

I would be more inclined to strongly consider an EW on your vehicle. Definitely shop around and definitely read what other issues people have had on enthusiast forums. The C43 may be a solid car.

Helo80
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Re: When to buy Car extended warranty ?

Post by Helo80 » Thu Nov 07, 2019 4:46 pm

Kagord wrote:
Thu Nov 07, 2019 8:28 am
What's your end game, to still have a Mercedes at the end of the extended warranty? I'd just follow what the majority do.

Lease: BMW, Mercedes, Audi (with a full bumper to bumper warranty for lease period)
Buy: Lexus, Acura
Avoid: Infinity


I think that is is a fair statement.

As much as I like the idea of picking up an M3/M5 if a good deal came out on one after lease, I probably would not pull the trigger merely b/c I don't want to deal with the potential maintenance issues.

stoptothink
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Re: When to buy Car extended warranty ?

Post by stoptothink » Thu Nov 07, 2019 4:54 pm

Helo80 wrote:
Thu Nov 07, 2019 4:43 pm
hawksfan82 wrote:
Wed Nov 06, 2019 10:07 pm
I am buying 2018 Mercedes C43 - which is still under factory warranty for another ~2 years ( October 2021 )
Dealer quoted $4000 for 6 years bumper to bumper extended warranty - but this warranty starts right now. Not after original factory warranty expires.
Same deal with CarMax too - they sell warranty but it starts immediately.

Question:
Does it make sense to wait until October 2021 - then shop for warranty ?
I am just worried that this warranty cost goes up as the car ages. Am I better off buying right now and have double coverage.


Is this the AMG version? If so, I'd be more inclined to purchase it.

The people that are saying "never" or "it's a waste of money" probably do not buy German luxury vehicles. In terms of engineering and design, I think Germany leads the way. I mean, there's Ferrari and Lambo that have better designs, but neither make practical daily drivers.

That being said, Germany (and Italy) truly produce some epic POS when it comes to maintenance --- and their high speed performance models sometimes have bugs and can be costly to repair.
Took my brother 3 AMGs to finally learn this lesson. His just out of warranty E63s had upcoming "maintenance" that was going to run ~$9k and he had basically stopped driving it altogether the last 2yrs because of said maintenance...so he just traded it in a month or so ago on a new carrera 4 (who knows if that will be better).

Helo80
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Re: When to buy Car extended warranty ?

Post by Helo80 » Thu Nov 07, 2019 5:03 pm

stoptothink wrote:
Thu Nov 07, 2019 4:54 pm
Took my brother 3 AMGs to finally learn this lesson. His just out of warranty E63s had upcoming "maintenance" that was going to run ~$9k and he had basically stopped driving it altogether the last 2yrs because of said maintenance...so he just traded it in a month or so ago on a new carrera 4 (who knows if that will be better).

Oh yeah, I believe it. I was looking at prices of what I believe was an SL63 a few years ago... and just one single MB OEM shock ran about $2,000 list (I believe, this is from memory for a car I did not own). That is before one hour of shop labor and only one wheel.

Costs and maintenance aside, Mercedes makes some beautiful and fun cars to drive.... They are definitely my favorite brand of all in terms of their model diversity from performance/racetrack cars to 4x4 all-terrain vehicles that will get you across the Sahara.... but man, their maintenance can get expensive on these for the random stuff that generally pops up.

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Stinky
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Re: When to buy Car extended warranty ?

Post by Stinky » Thu Nov 07, 2019 5:13 pm

Helo80 wrote:
Thu Nov 07, 2019 4:43 pm

That being said, Germany (and Italy) truly produce some epic POS when it comes to maintenance --- and their high speed performance models sometimes have bugs and can be costly to repair. Land Rover as well --- beautiful and comfortable cars, but you may end up getting to know your service department very well on those after the standard warranty expires.
Agreed.

My advice - buy Toyota. Or Lexus. Or Honda. Or Hyundai.

These are all built by companies that know how to make reliable cars.
It's a GREAT day to be alive - Travis Tritt

GoldStarDude
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Re: When to buy Car extended warranty ?

Post by GoldStarDude » Thu Nov 07, 2019 10:18 pm

I typically do not purchase extended warranty's on vehicles. However, when I bought my Mercedes, I did.

The dealer quote on the Mercedes-Benz Extended Limited Warranty was unreasonable, so I decided to purchase the vehicle and to purchase the M-B ELW through another dealer. I purchased a Mercedes-Benz 3 year/100,000 mile warranty (7 year warranty period) from a Mercedes dealer in another state, completely over the telephone. The price was MUCH less than my dealer quote. It took the worries out of purchasing an exceptional vehicle that can otherwise be expensive to work on.

You can purchase the M-B Extended Limited Warranty on any Mercedes-Benz vehicle, as long as it is still under the 4 year/50,000 mile warranty.

Just search the internet and the name of the dealer will be obvious, or PM me.

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RootSki
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Re: When to buy Car extended warranty ?

Post by RootSki » Fri Nov 08, 2019 10:12 am

perplexed wrote:
Thu Nov 07, 2019 3:31 pm
RootSki wrote:
Thu Nov 07, 2019 8:35 am
perplexed wrote:
Thu Nov 07, 2019 8:20 am
RootSki wrote:
Thu Nov 07, 2019 7:52 am
I used to be one of those "never buy an extended warranty" person. That was until I bought a 2019 CPO Volvo XC60 plug-in electric hybrid that is loaded with all kinds of electronics. I extended my warranty through Volvo but a different dealer from where I bought the car. 10 years/unlimited milage warranty gives me peace of mind that I can keep this car as long as I want to, or sell it if I feel the technology is too outdated in a few years. The warranty I bought is OEM so if I do sell the car, I can transfer the warranty to the new owner, or receive a pro-rated return on the unused period.
May I ask how much did the 10 year warranty cost on the Volvo? Also, is it bumber to bumper? Since you mentioned electronics, I would assume so.
It was less than $3K. $2700ish maybe? I should add I have a $100 co-pay on warranty repairs in 2024. Here's a link to a pfd of what's covered. It's a lot, but not all inclusive. https://pictures.dealer.com/steingoldvo ... 178aef.pdf
Thats really good, IMHO. I got a 5 year extension for my ACURA and it was 2.4K. So for a 10 year on Volvo this is a good price. Also, probably implictly shows that they are confident that repairs over 10 year extension wont exceed 3K, on average.
Thanks! Considering how much I spent on out of warranty repairs on my last XC60 I should at least break even and help me sell the car privately when I decide it’s time to upgrade again.

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sk2101
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Re: When to buy Car extended warranty ?

Post by sk2101 » Fri Nov 08, 2019 1:07 pm

Do you think that the actuaries making warranty calculations distinguish between a C Class and a C63? I doubt. So i wager the warranty price is the same between those two cars even though one has a very high chance to self destruct or render itself worth $3k one day by happening into some crazy expensive repair bill. Take advantage of that.

This reminds me of the Doug Demuro story, when he bought a Range Rover at Carmax for about $20k with an extended warranty for another $3k. At the time carmax charged the flat price for the warranty no matter what car it was. It was crazy. They ended up paying over $20k in repairs on Demuros Land Rover over the warranty period, which he documented on youtube, its hilarious. Since then Carmax learned their lesson and now charge more for different cars.

smitcat
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Re: When to buy Car extended warranty ?

Post by smitcat » Fri Nov 08, 2019 1:26 pm

sk2101 wrote:
Fri Nov 08, 2019 1:07 pm
Do you think that the actuaries making warranty calculations distinguish between a C Class and a C63? I doubt. So i wager the warranty price is the same between those two cars even though one has a very high chance to self destruct or render itself worth $3k one day by happening into some crazy expensive repair bill. Take advantage of that.

This reminds me of the Doug Demuro story, when he bought a Range Rover at Carmax for about $20k with an extended warranty for another $3k. At the time carmax charged the flat price for the warranty no matter what car it was. It was crazy. They ended up paying over $20k in repairs on Demuros Land Rover over the warranty period, which he documented on youtube, its hilarious. Since then Carmax learned their lesson and now charge more for different cars.
"Do you think that the actuaries making warranty calculations distinguish between a C Class and a C63?"
My guess for MB would be yes - simple and easy all thru the VIN #.

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