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Worth getting extended warranty?

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Old Feb 20, 2023 | 03:41 PM
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Default Worth getting extended warranty?

I just picked up an 2017 F Type R convertible. Only 24k miles and the car is showroom/pristine condition - looks brand new.

I will likely own for about 3 years and maybe put on about 5k miles per year as it is not my daily driver.

Extended warranty for 3 years is $3600 from the dealer. For you all more experienced Jaguar owners would you recommend the warranty? Any other feedback or even any other after-market warranty company that you would recommend instead?

Thanks!
 
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Old Feb 20, 2023 | 05:04 PM
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I can't imagine paying anything like that amount for coverage you likely won't need but if you do you'll find they do everything vaguely possible not to pay up. Keep the money as rainy-day money.
 
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Old Feb 20, 2023 | 06:03 PM
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If the car was sold by a Jaguar main agent, they offer the Jaguar warranty. This is extremely expensive, but is no different to other used car warranties, in that it is an insurance-type of warranty, so not backed by Jaguar, but a 3rd party insurance company. Also the conditions are the same as the others. When my warranty ran out on my XE, I took out a three-year warranty here in the UK with the RAC. This is insurance based but a lot cheaper than the Jaguar warranty. So far I have not had to invoke the warranty. I take these things out mainly for major problems. I had a warranty on my MB SLK, and had to invoke it once, for a wheel speed detector; not an expensive repair and it was paid without quibble. The main term of the warranty is that claims cannot exceed the value of the car, and as depreciation does it's work, this liability reduces over the 3 years.

The alternative, as others have said, is to put the money in the bank ready for use !
 
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Old Feb 21, 2023 | 10:58 AM
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Read the fine print. Some of these warrantees are worded such that they can get out of a claim for almost any reason at all.

Now if you're using the dealer to service the vehicle, and you're pretty good about not letting anything lapse, you'd be in decent shape.

It's all about your tolerance for risk....and the dealership's willingness to honor this agreement without always finding a way out.
 
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Old Feb 21, 2023 | 01:14 PM
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Not quite correct. Dealers sell you a warranty provided by a third party. The dealer has no role in the honouring of the warranty agreement. You normally must keep to the manufacturer service schedules and be able to prove that you have.
 
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