This is a bit off the subject but clearly related.

Which maintenence agreement did everyone go to when the company's warrantee ran out?

I just bought a 2007 XK and can't find info on one maintenence agreement being better and recommended over another. I suspect the first big problem will cost me the first year's insurance premium.

 

YES - way off topic where you posted but definitely worthy of its own thread.

Graham

 

https://www.jaguarforums.com/forum/x...rranty-244182/
Search is your friend...

 

Open that link and scroll down to my Post #6.

The reason you can't find info on one maintenence agreement being better and recommended over another is because that consensus of opinion does not exist. And even if it did, those contracts change, so what might have been good in the past may be bad today.

Again, read my Post #6. You can't rely on what anyone says was a great experience for them. You have to do your own due diligence and decide for yourself. As I said in my Post #6:I know I'm , but click the above link and read my Post #6.

 

Stuart, I think you are right. I'm going to forego the policy and just start another retirement account (as someone suggested) and put $3500 into it and let it hopefully grow until I will inevitably need it. Probably add a thousand a year just to insure I have enough. I'll just pay for the maintenence charges out of pocket. I'd rather do it this way than be ticked off finding that a repair isn't covered that I think should be.

 

The 2007 XK is generally so reliable that you'd be better off spending the potential premium amount on doing a few minor maintenance operations: replacing the plastic thermostat and housing, hoses, changing all the fluids (for the ZF transmission this includes changing the pan/filter)....
The most-used word by insurance companies is NO.

 

No maintenance or warranty for me I try to DIY other than that stick 10 bucks a week into a small bank account for any future problems

 

+1. In effect I self-insure.

By saving on warranties over the years I'm probably a spare car in hand.

 

They are a waste and hard to deal with. No thank you. I am fortunate enough to be able to pay for any problems without any distress. I do like the Put The Price In The Bank In Case You Need It Later idea. You could also throw a small amount every month extra into a separate account if you financed your car. Even $20 per month could help in a pinch.

 

In my 38 years of driving having owned 30+ cars, I only bought an extended warranty once. It was a 2009 Audi A8 with 65k on the odo, and the warranty was for 3 years and $2800. The warranty paid for a fuel pump and suspension parts over the 3 years, and it was pretty much a wash.

Recently I bought a 2013 F150 with 99k miles, and it came with a 3 month/4000 mile warranty that I used when the timing chain decided to stretch itself too far after 1000 miles of light duty. The "warranty" only covered $1500 of the $3000 bill. I then forked over an extra $1000 for additional items (water, oil pumps etc) that were basically done for the cost of the parts since they were already in deep.

I will never buy an extended warranty again. If you (the proverbial everybody, not you personally) can't afford to fix it, spend your money on something you can afford to upkeep.

 

I did not get one. Or, if you like, I have one with unlimited mileage and an unlimited deductible.

 

... and, most importantly, zero upfront cost!

 

This is great, like you said, you are fortunate enough afford any problems. If someone has to use the "put the price of policy in the bank" and "20 a month" in order to fix their car I think they are in over their head getting older Euro cars of any type. Most of the time they roll these coverage policies into the car loan, they may not have that money to put in the bank in the first place!

I always see this advice and I think the misconception is that the person asking is somehow of weak financial standing and in need of direction on how to save money. I have bought policies in the past, not because I can't self-insure, but because it was a strategic decision hoping that I will come out ahead in a game against the insurance company. Just like I can afford anything that happens to my car I can afford the possible chance that I am upside down in the insurance coverage.

My BMW coverage was 3 years and $2400, they paid me out around $2000 and I sold the car prior to coverage ending which entitled me to a prorated refund. So I came out just about even, I would stipulate being even is actually not a reason to avoid them in the future. For the BMW policy with Autopom others had gotten significant payout with engine failure, etc. Being even means the policy cost me nothing, yet I was still covered against a major repair, I will take free insurance any day!!! I do agree that the Jaguar is much more reliable an this is not a sound idea.

Every time I renew my house insurance I ask the question why, I don't need it and I can afford to rebuild my house if needed. Yet I do it...

 

Do you have life insurance policies and still keep paying the premiums every year? If so, why?

You can't take it with you after you're gone. And why give someone an incentive to plan your untimely demise? Forget the life insurance and make it a truly sad day when you die.

 

Now you have me looking behind my back!

Seriously, that is a real pet peeve, family folks without assets to support a spouse or family in the event of the unexpected death. I have seen it to often when a bread winner dies and the family is in a real lurch. If you have money and worth, no worries, you don't need it, but if you don't and have those dependent on you better damn well have Life Insurance in the strategic plan.

I would say all coverage plans have their time and place.