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A good Extended Warranty

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Old 04-04-2016, 02:42 PM
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Default A good Extended Warranty

Now that my select edition warranty is about to expire, I'm looking for a good extended warranty to replace it. I haven't done any research yet, but wanted to chime in and see who you guys recommend. My XKR already has 80k on it, which doesn't bother me, but may deter some companies or up the cost somewhat. I'm fairly certain I'm not going to get bumper to bumper, but I definitely want reasonable coverage....your thoughts?
 
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Old 04-04-2016, 03:55 PM
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Every extended warranty plan seems to be fraught with complaints of valid warranty work being denied. I am very interested in hearing what the others have to say about their experiences with extended warranty plans.
 
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Old 04-05-2016, 11:36 AM
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Chris, I will be very interested to see how your search goes. If at least drive train coverage could be had for a reasonable price.
 
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Old 04-05-2016, 12:11 PM
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For 4k you can get the best extended policy ever. No deductible either.


Put 4K on a prepaid Amex and you'll have a balance after 3 years...
 
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Old 04-05-2016, 12:19 PM
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Realize that "extended warranties" are not there as a benevolent kind company they are there as profit-making businesses... as they should be. The way they work is they have actuaries that forecast the likelihood of issues, then the cost to repair them, then add a SIGNIFICANT cost (the likelihood of said repair, all costs of business, marketing costs, +major profits) to arrive at their end cost to purchaser. This does NOT include the fact that sadly a large percentage of those out there either have such refined parameters that they will cover that it may not apply to your issue or even worse there are many that simply are bogus and will refuse to pay (do your research before buying!!!!).

Here's the reality of warranties - with these cars the chance that you will have an issue is VERY low. You are paying for "piece of mind". As always you'd do yourself a favor in simply putting a hundred or so away each month into a separate account in the event you have any issues rather than paying another company a far more that that and have nothing after a couple years.

Of course there are rare anecdotal examples where they pay off but those are FAR outweighed (or warranty co's wouldn't be in business) by those who got outright screwed by companies refusing to pay anything let alone those who paid and never used them. Dealerships LOVE selling warranties, the mark-up is huge on them
 
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Old 04-05-2016, 01:32 PM
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Default Know The Difference

A "warranty" is a promise (a contract) by the manufacturer of a product to repair or replace it at their expense within a specified period of time for specific failures caused by defects in materials or workmanship. Upon the expiration of the factory warranty, some manufacturers will offer to sell you through their dealers an "extended warranty" that continues all or part of the terms of the original factory warranty for various longer terms at various prices. The manufacturer continues to stand behind its product.

Consumers often confuse an "extended warranty" with an "extended service contract" that is offered by a third party unrelated to the manufacturer. Buyer beware! Aftermarket extended service contracts often contain exclusions and limitations that, in effect, make them not worth the cost.

If you think a particular extended service contract is attractive, be sure to Google it for complaints before you buy it.

Stuart
 
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Old 04-05-2016, 01:53 PM
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Bookies and casinos are more regulated than these slicksters. In fact casino pays out far more than these guys. Thats why you dont see casinos giving 70% commission to a middleman like a car dealership.

After they give 50% and more to the dealer, and various costs and profit taking, you have to ask how much of your $4k can they even return.
 
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Old 04-05-2016, 02:30 PM
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Well, I can speak from experience on the subject. Like has been said, throw the word "warranty" out, my previous contract for my BMW was titled a "Mechanical Breakdown Protection" plan. It is a policy underwritten by an Insurance company whose purpose is to make money. A good company will not screw you, but they will hold you to the letter of the contract which does have a list of exclusions. In my previous plan they were clearly laid out, yet there would always be some idiot that came into the BMW forum and complained they were getting screwed, not because they were but because they were mad they did not review the contract or took some salesmans word that they were 100% fully covered. Don't be a rube, dive into the details if you want to get one.

With my 2006 BMW 650 there were many known issues that occur at common mileage. Much more so than the Jag. So knowing full well that there were upwards of $10,000 in potential repairs I bought a $2800, 2 year coverage plan on my 60k mileage vehicle from Autopom, a reseller of Mercury Insurance company. My Mercury Provided coverage had exclusions like exhaust components, clutches, other wear items. The list was well laid out.

Keep in mind that this was a strategic purchase, I can afford immediately out of pocket any repair my BMW or my newer Jag can throw at me. In the first year of coverage I had the following repairs:

Tranny pan leaking - new pan installed plus fluid $250
New control arms for steering - $600
Alternator and battery (deemed alternator toasted battery) - $1500

Oil leak denied as preexisting condition - $2000, I fought this but they were correct.

I traded the car in with 1 year left in coverage and was returned a prorated amount from my contract minus 10% (per the contract which I already knew). So I was refunded around $1250. In the end I was covered from the worst of the catastrophic potential issues like a failed coolant pipe in the engine that causes an $8000 repair and did a little better than breaking even on the cost.

Whatever, to each their own. I probably will not get a coverage plan on the Jag since it is not rife with known issues like my BMW was.
 

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Old 04-05-2016, 02:58 PM
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Originally Posted by mosesbotbol View Post
For 4k you can get the best extended policy ever. No deductible either.


Put 4K on a prepaid Amex and you'll have a balance after 3 years...

LOL, that just might be the way to go!
 
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Old 10-12-2018, 09:59 AM
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Old 10-12-2018, 10:08 AM
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At the 43 second mark

 
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Old 10-12-2018, 10:34 AM
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I debated whether or not to take an extended warranty out when purchasing my car (delivered 4th Oct 18) here in the UK

I scoured all of the review sites and almost companies had lots of complaints, one stood head and shoulders above the rest and that was 'motoreasy'.

Not only did they cover wear and tear (natch not brakes and tyres) but the warranty was up to the full value of the vehicle....so no upper limit

I also searched the web for discount codes and managed to get mine for £2400 for a 3yr policy, if no claim is made for the duration of the policy I get 30% back at the end! Also it is the only extended warranty endorsed by 'honest john'

I even have a vehicle inspection tomorrow (at my local Halfords autocentre) so that they can look for wear and tear to exclude....more of a health check.

Surprisingly they let me spread the payments (interest free) over a period of 4 months. So if you can find a similar company stateside then go for it....natch am hoping not to make a claim and get the £720 windfall in 3yrs
 
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Old 10-12-2018, 11:09 AM
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Yeah, I took one of those once. At the end of 3 years when I tried to get my money back I found that the company had gone out of business. Good thing the car never had issues.

No warranties for me ever again. I do a lot of work on cars myself, and I roll the dice with transmissions and such. So I don't think there is any way I could ever make the warranty pay out for me.
 
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Old 10-12-2018, 03:55 PM
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I extended my warranty with the dealer for £1150. A month later my heated windscreen wasnít working and they said I needed a replacement. Total cost £1152! So technically Iím £2 up and still got peace of mind that if anything else goes it wonít cost me anything!
 
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Old 10-12-2018, 04:17 PM
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Originally Posted by Tatty View Post
I extended my warranty with the dealer for £1150. A month later my heated windscreen wasnít working and they said I needed a replacement. Total cost £1152! So technically Iím £2 up and still got peace of mind that if anything else goes it wonít cost me anything!
Couldn't it just have accidentally got hit by a stone/hammer and replaced for the £75 without the need for a warranty claim??
 
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Old 10-12-2018, 05:05 PM
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Jaguar dealers sell third-party extended service contracts because they're highly profitable. Even if the Jaguar dealer uses his Jaguar letterhead to sell it to you, those contracts are NOT warranties because the promise to pay claims is made by a third-party insurance company that is unrelated to the manufacturer, Jaguar. The Jaguar Select Certified Pre-owned program IS a warranty because it is backed by the manufacturer, Jaguar. It extends the original manufacturer's warranty subject to certain limitations and exclusions.

Insurance companies that underwrite extended service contracts are in business to make money. They have mountains of data, know the likelihood and cost of repairs by vehicle and component, and how to price their products. They also know how to write the fine print to deny claims. Any third party extended service contract company that loses money won't stay in business.

Buying an extended service contract is a crapshoot. Just know that the odds are against you.
 
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Old 10-12-2018, 05:48 PM
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Stuart you statements are not entirely correct. Cpo is an extension of the factory warranty. But there are alot of exclusions that in my opinion are some of the failures we see many times. It also pays factory warranty times and warranty parts prices. So that meens that we as tech continue to be short paid on repairs where as companies like easy care pays motors or chilton times for repairs and list price on parts. If youre looking at a car do you think you would be diligent to find additional repairs when you will be short paid on your time?
The nice thing on cpo is as long as a single line repair is under $2000 no approval is needed so you can work as soon as you have parts. Easy care will send a inspector out in 24 hours if total repairs are over $1000. As a tech if i bought a newer jaguar i personally would buy a easy care total care contract and not a cpo even though it is more money. It would pay for itself
 
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Old 10-12-2018, 11:32 PM
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Brutal,
I said: "The Jaguar Select Certified Pre-owned program IS a warranty because it is backed by the manufacturer, Jaguar. It extends the original manufacturer's warranty subject to certain limitations and exclusions." How is that not accurate? I understand your point about how techs are compensated for CPO repairs, and agree that you should be fairly compensated. But that's not a concern of the buyer of a CPO Jaguar. You're right about some breakdowns that CPO buyers thought should have been covered, but it's the buyer's own fault for not reading the CPO contract; it's not a blanket extension of the new car warranty and, as I mentioned, "is subject to certain limitations and exclusions."

Thanks for the Easy Care Total Care recommendation. It means a lot coming from you. Even though I'm not a believer in aftermarket protection plans, depending on the cost, ECTC might be worthwhile to help me get a better night's sleep.
Stuart
 
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