Official Porsche Extended Warranty - An Unorthodox View
Discussion
I know that I am probably going to get slated for my views on this but I am a big believer in the benefit of the official Porsche extended warranty.
In 2010 I bought a new Boxster S for around £45k.
Normally after 2 years I would be looking to replace the car with a new one using the man logic that "it's out of warranty and needs replacing" - something I have done previously with other vehicles - the fear of out of warranty costs coupled with the desire for a new toy is a powerful motivator.
In 2012 as things were financially a bit tight I hit on the idea of taking up a two year extension on the Porsche warranty. As far as I could see the cover was almost identical to that which came on the new car and included the same European wide recovery service and the dealer kindly offered to waive the 110 point check fee as I was having the vehicle serviced at the same time.
Now in 2014, whilst things are financially less constrained, my jaundiced view of the latest Boxster and the usual poor residuals for second hand cars has made me consider what previously was unthinkable : to keep the 987 Boxster for even longer.
At £1,600 for a 2 year warranty extension this appears to be good value when compared with the cost of changing to a new car, and I can keep on extending the warranty up to 10 years old as my annual mileages are low at 3.5k pa.
Even if I kept the car till 10 years old the £12,800 warranty extension cost pales into insignificance compared with the depreciation on several new replacement cars - and yet I am still covered by the same standard of warranty & recovery - and hand on heart, a mint condition Boxster with 35,000 miles on the clock will still be an acceptable drive even if it is only worth £10k and with the possiblity to sell it privately at year 9 with 1 years official Porsche warranty left!
In my case Porsche have really shot themselves in the foot with the extended warranty offer, in that it has enabled me to break the cycle of constant replacement of the car with the latest model.
Once you break free of the cycle you realise what a mug's game it is - but then maybe, just maybe, I'm getting older and wiser......
In 2010 I bought a new Boxster S for around £45k.
Normally after 2 years I would be looking to replace the car with a new one using the man logic that "it's out of warranty and needs replacing" - something I have done previously with other vehicles - the fear of out of warranty costs coupled with the desire for a new toy is a powerful motivator.
In 2012 as things were financially a bit tight I hit on the idea of taking up a two year extension on the Porsche warranty. As far as I could see the cover was almost identical to that which came on the new car and included the same European wide recovery service and the dealer kindly offered to waive the 110 point check fee as I was having the vehicle serviced at the same time.
Now in 2014, whilst things are financially less constrained, my jaundiced view of the latest Boxster and the usual poor residuals for second hand cars has made me consider what previously was unthinkable : to keep the 987 Boxster for even longer.
At £1,600 for a 2 year warranty extension this appears to be good value when compared with the cost of changing to a new car, and I can keep on extending the warranty up to 10 years old as my annual mileages are low at 3.5k pa.
Even if I kept the car till 10 years old the £12,800 warranty extension cost pales into insignificance compared with the depreciation on several new replacement cars - and yet I am still covered by the same standard of warranty & recovery - and hand on heart, a mint condition Boxster with 35,000 miles on the clock will still be an acceptable drive even if it is only worth £10k and with the possiblity to sell it privately at year 9 with 1 years official Porsche warranty left!
In my case Porsche have really shot themselves in the foot with the extended warranty offer, in that it has enabled me to break the cycle of constant replacement of the car with the latest model.
Once you break free of the cycle you realise what a mug's game it is - but then maybe, just maybe, I'm getting older and wiser......
Edited by Peter Cee on Thursday 24th July 13:57
Edited by Peter Cee on Thursday 24th July 14:03
Fair comment on the tyres, parts and modifications front - although some might say no modifications means no temptations to blow thousands on 'upgrades'.
I know Mrs Cee thinks that £750 per year to force me into not considering changing the car because I've extended the warranty, to be a bargain.
I know Mrs Cee thinks that £750 per year to force me into not considering changing the car because I've extended the warranty, to be a bargain.
SFO said:
OP, have you had any or many warranty claims?
No - never had a thing go wrong in 4 years. Not a squeak, rattle, misfire nothing - the car feels totally reliable - honestly wouldn't be surprised if it went the full 10 years without a claim.
That's why I wouldn't factor any such costs into the equation.
Originally I did wonder if PDK would be reliable as it's a pretty complex thing' but so far it operates with complete consistency - but in the future I guess you never know....
Adam B said:
I doubt I will buy a new car again TBH
Those contemplating keeping their Boxsters till 2019, may well have to make a difficult choice when considering the purchase of a brand new replacement.Edited by Adam B on Friday 25th July 01:06
I really do suspect that by then the Porsche product will be all hybrid vehicles with associated whistles and bells. Whilst they will obviously be very rapid vehicles and very capable handlers, I think that the enthusiast who appreciates the pure and simple petrol engined sports car for free time enjoyment purposes, may well feel that there is no suitable new replacement.
If these circumstances do come to pass then I think the 987 will definitely be considered to be best of breed - last of the pure petrol engined Porsche sports cars.
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