Extended or any kind of warranty

[Stevenorcal]

Can you buy a warranty for your used porsche. Mine is 2001, i have looked on line and contacted a few companies but they all only cover Boxster or other models. I havent found a company that will help me, my car isnt CPO, i dont know if I can get it CPO'd after the fact or not. Anyone direct me to a source that would provide mechanical warranty at this stage in my cars life? it has 23k miles on it.

:thankyou:

[JFP in PA]

I would proceed very cautiously on this. Some individuals have had good luck with aftermarket warranties’, many have not. A lot of people have been burned by extended warranties that ultimately turned out to be worthless when they need it. The industry is rife with fly-by-night companies that go out of business regularly and then reopen under a different name the next day. A lot of shops, mine included, will not do business with any of the aftermarket warranty companies as they are very slow payers and try to dictate how much can be charged for a given repair.

[mikefocke]

No you can't get it CPOed at this stage. Too old, not being sold by dealer.

All extended warranty reviews by independent sources say they are bad bets as their payout to cost ratios favor the insurance company by enormous amounts...Consumer Reports estimated a 20-30% payout. The suggestion I see made is to create a fund that you pay into every month and self insure. And maintain the things that can influence reliability...especially those things that age like water pumps, AOSs and fluids. And safety like watch the age on your tires.

A few years ago I could get insurance for a '01 Boxster but was staggered by how much it would cost...basically the cost of a used engine per year. I've done nothing but change the fluids over the past few years anyway so I'm way ahead for not have bought. There will be a few who will tell you how they made out well buying...just like a casino. The few make out, a few break even, most lose and the casino/insurance-co always makes money...huge gobs of it.

[Danyol]

I was in the same boat as you 3 years ago. I did find one co to insure me, then rejected due to 19" wheels! Oh yeah, they don't cover wear items, how much expenditure is due to that (they decide).

Three years now i've had a window actuator fail and a clutch accumulator. Neither of these are high $.

[Stevenorcal]

Thank you all

I am glad I asked.

[Centauro97]

Read any contract very carefully.

One company specified in the contract that "Any known or unknown pre-existing conditions with your vehicle will result in a claim denial". That would be pretty much everything.

I'm sure they'll pay for inexpensive items up to a point, as noted, about 30% of what you paid for the policy. Then expect "pre-existing" conditions. Any modifications? Denied!

Pay into a maintenance/repair account. That's the best bet and save the heartburn.

[rogerjohnsen]

Seriously - it's as if you need an attorney to ever collect on a third party warranty. They stay in business for profit and a claim translates to a loss. I had Western for another vehicle and was turned down for a small claim. That said,I would be super cautious trying to get piece of mind for something that will give you serious grief in the long run...

I wrote analytic software and had several warranty companies as clients. Between what to ensure, claim rates and other factors, automobiles and electronics were the most lucrative segments they targeted.

[rogerjohnsen]

Seriously - it's as if you need an attorney to ever collect on a third party warranty. They stay in business for profit and a claim translates to a loss. I had Western for another vehicle and was turned down for a small claim. That said,I would be super cautious trying to get piece of mind for something that will give you serious grief in the long run...

I wrote analytic software and had several warranty companies as clients. Between what to insure, claim rates and other factors, automobiles and electronics were the most lucrative segments they targeted.

Edited March 2, 2011 by rogerjohnsen

[OscarAH1W]

All- The only 3rd Party warranty I would recommend is the Fidelity extended service contract that is offered through the Porsche dealership... I purchased a non-CPO 2004 Turbo Cab (X50) from an independent dealer with 20,600 miles on it. I was able to purchase the platinum coverage AFTER paying for what amounted to a CPO inspection at the Porsche dealership. I purchased the longest coverage term available for $4,600, Many readers will balk at this amount, but it has paid for itself already. One year and 6,500 miles into ownership, on my 3rd drive after reading the Feb 11 Excellence article on GT-1 engine coolant line problems, I blew a coolant line. Long story short, my 100 dollar deductible paid for about $12.5K in dealer repairs. I don't track the car and don't bounce the needle off the rev-limiter. I agree with all the advice... read everything carefully and shop for the best deal. There is wiggle room on these extended service contracts so do your research and make the best deal... I would NOT recommend any "provider" not sanctioned by your Porsche Dealership. Hope this helps someone. You wouldn't put crap gas in the car, or put retread tires on it, why skimp on warranty coverage?

[phillipj]

I bought a CPO additional 2 years / 100k on my 07 Turbo for $3,200. Already I have replaced the clutch accumulator, PCM CD problems, Interior hood switch, Cup holder strip problem and CF interior pieces replaced . I believe I have already re couped what I paid for the warranty. If you can get the CPO that is the way to go. If not.. Be very careful. I plan on taking the car in for every tiny little problem I can find. Porsche hates me but my service manager loves me ;^).... He said and I quote "I'll re build the whole dam car if you want me to"..:clapping:

Edited March 3, 2011 by phillipj