Extended Warranty’s
Discussion
After all of the hassle I had with my Pug when I bought it and having to use the consumer act 2015 to make sure that I didn’t have to pay out my own pocket for the multiple issues that occurred with it I am considering taking out an extended warranty on my new car. Been advised that the Renault Captur that I’ve bought has a tendency for something in that auto gearbox to go. Luckily it has a Fsh 1 lady owner and only 50000 miles so I hoping that nothing too bad will happen but want to cover any major issues at a reasonable price!
Anyone got a reasonably priced warranty that is not overly heavy on the wallet?
Anyone got a reasonably priced warranty that is not overly heavy on the wallet?
IMHO, most used car warranties aren't great.
Lots of things they don't cover.
The less you pay the more likely the warranty is practically worthless.
I don't bother with used warranties, but if I did I'd want a decent one.
Even approved used warranties aren't much use when the franchise dealer has 6-12 week wait to book you in for work.
Lots of things they don't cover.
The less you pay the more likely the warranty is practically worthless.
I don't bother with used warranties, but if I did I'd want a decent one.
Even approved used warranties aren't much use when the franchise dealer has 6-12 week wait to book you in for work.
You'll find they'll often cover the failed part and not anything else...So at a worst case if a 20p O-ring fails and as a consequence the engine overheats they'll replace the O-ring and the overheated engine will be tough luck.
Even if they will pay out, for sake of example if a cam rocker fails they'll replace _ONE_ rocker rather than a set, if a cam guide blade fails they'd replace one blade etc. They won't pay to replace the timing chain etc etc which if you're already at that stage of disassembly really should be done. Some of them won't even pay for things like one-use bolts that need to be replaced.
They generally have very low rates, many garages won't want to deal with them for that reason. Plus it can take an age arguing over if its covered or not before they pay out. If the garage isn't approved then you'll have to pay and hope they'll repay you.
Our experience is that they did pay out for the Golf when the waterpump/thermostat did something odd (its not entirely clear what was wrong but it caused emissions to go sky high), we ended up ~£50 out of pocket but on a £1k+ bill. It was a royal pain though and a whole load of worry that it wouldn't be covered.
Even if they will pay out, for sake of example if a cam rocker fails they'll replace _ONE_ rocker rather than a set, if a cam guide blade fails they'd replace one blade etc. They won't pay to replace the timing chain etc etc which if you're already at that stage of disassembly really should be done. Some of them won't even pay for things like one-use bolts that need to be replaced.
They generally have very low rates, many garages won't want to deal with them for that reason. Plus it can take an age arguing over if its covered or not before they pay out. If the garage isn't approved then you'll have to pay and hope they'll repay you.
Our experience is that they did pay out for the Golf when the waterpump/thermostat did something odd (its not entirely clear what was wrong but it caused emissions to go sky high), we ended up ~£50 out of pocket but on a £1k+ bill. It was a royal pain though and a whole load of worry that it wouldn't be covered.
Johnson897210 said:
I was just about to say look for a post by Lord Flasheart / M5 Guy. Says it all. They are pointless unless they are manufactured backed. Even then I wouldn’t guarantee they would pay out.
As said, they are a tax on the stupid.
I put £100 a month in a savings account, started doing it 8 years ago when I bought my 2016 M135i. I’ve now got about £8K in a savings account due to tyres, a battery and alternator all needed doing last year.
So I see myself as quids in.
Manufacturers own extended warranties are usually the best, too many stories of aftermarket warranties proving worthless for comfort.
Toyota the most comforting of all, another 12 months warranty following annual main dealer service up to 10 years.
Hopefully you bought an approved used from the main dealer, so its covered for the first year even if outside normal makers warranty.
I'd rather spend money on good servicing than an aftermarket warranty, ie get gearbox oil changed at sensible intervals even if its supposed to be ''sealed for life'', it isn't, ignore extended engine servicing and get the brakes serviced correctly regularly which almost no one does these days.
Toyota the most comforting of all, another 12 months warranty following annual main dealer service up to 10 years.
Hopefully you bought an approved used from the main dealer, so its covered for the first year even if outside normal makers warranty.
I'd rather spend money on good servicing than an aftermarket warranty, ie get gearbox oil changed at sensible intervals even if its supposed to be ''sealed for life'', it isn't, ignore extended engine servicing and get the brakes serviced correctly regularly which almost no one does these days.
Smint said:
Manufacturers own extended warranties are usually the best, too many stories of aftermarket warranties proving worthless for comfort.
Some “manufacturers” warranties are run by aftermarket providers, who will wriggle just as much as if they’d sold it to you directly. Been there with a main dealer supplied used car and the included 12m warranty. Ultimately the business model for any warranty provider is that they need to take in more than they pay out.
Kuwahara said:
They are essentially just insurance policies, insurances make money by not paying out…
This is true, however not all are equal. Manufacturer branded 'warranties' that use Allianz are generally pretty good, I had £14k on one year on my M6 and there was no hassle at all, as the dealer just put it all through and they were paid direct.However, the ones you buy from 3rd parties are rubbish. I have one that was included in the sale and it's pretty rubbish, judging by the terms and conditions.
MB140 said:
I was just about to say look for a post by Lord Flasheart / M5 Guy.
Says it all. They are pointless unless they are manufactured backed. Even then I wouldn’t guarantee they would pay out.
As said, they are a tax on the stupid.
I put £100 a month in a savings account, started doing it 8 years ago when I bought my 2016 M135i. I’ve now got about £8K in a savings account due to tyres, a battery and alternator all needed doing last year.
So I see myself as quids in.
5 years of warranty would have cost nothing like £8k though, it will have been a fraction of that.Says it all. They are pointless unless they are manufactured backed. Even then I wouldn’t guarantee they would pay out.
As said, they are a tax on the stupid.
I put £100 a month in a savings account, started doing it 8 years ago when I bought my 2016 M135i. I’ve now got about £8K in a savings account due to tyres, a battery and alternator all needed doing last year.
So I see myself as quids in.
Edited by Fox- on Monday 2nd December 11:42
Fox- said:
MB140 said:
I was just about to say look for a post by Lord Flasheart / M5 Guy.
Says it all. They are pointless unless they are manufactured backed. Even then I wouldn’t guarantee they would pay out.
As said, they are a tax on the stupid.
I put £100 a month in a savings account, started doing it 8 years ago when I bought my 2016 M135i. I’ve now got about £8K in a savings account due to tyres, a battery and alternator all needed doing last year.
So I see myself as quids in.
5 years of warranty would have cost nothing like £8k though, it will have been a fraction of that.Says it all. They are pointless unless they are manufactured backed. Even then I wouldn’t guarantee they would pay out.
As said, they are a tax on the stupid.
I put £100 a month in a savings account, started doing it 8 years ago when I bought my 2016 M135i. I’ve now got about £8K in a savings account due to tyres, a battery and alternator all needed doing last year.
So I see myself as quids in.
Edited by Fox- on Monday 2nd December 11:42
I self insure by putting a small amount (£100) per month in to a savings account. I’ve not paid out a single penny to a warranty / insurance company that make it near impossible to claim for the smallest of costs and I can assume for anything major (engine, gearbox) impossible to get any money.
I’ve been lucky in that I’ve had no major issues in 8 years, battery, alternator, wheel bearing, screen wash water pump. All totalled about £750 in 8 years.
I could have paid £1k for a warranty and got nothing back.
Now I have a nice little pot of money towards my next car or a self insurance pot for my next car.
I’ve tried on 3 occasions to claim from car warranty companies and on every occasion they have made it impossible. They are a bunch of rip off merchants.
Clc4299 said:
After all of the hassle I had with my Pug when I bought it and having to use the consumer act 2015 to make sure that I didn’t have to pay out my own pocket for the multiple issues that occurred with it I am considering taking out an extended warranty on my new car. Been advised that the Renault Captur that I’ve bought has a tendency for something in that auto gearbox to go. Luckily it has a Fsh 1 lady owner and only 50000 miles so I hoping that nothing too bad will happen but want to cover any major issues at a reasonable price!
Anyone got a reasonably priced warranty that is not overly heavy on the wallet?
Most used car dealer warranties limit several things:Anyone got a reasonably priced warranty that is not overly heavy on the wallet?
Labour rate - capped at £45-50/hour I have found.
Total expense on a single claim - not much at all
component failure must not be wear and tear.
Generally only useful if provided free by the seller, not worth paying for one.
My last car came with a free "warranty wise platinum" 3rd party cover.
However, they won't give me a list of garages they work with, saying I can use any VAT registered mechanic. All the good local garages I normally use (and have used for 20 years) will not deal with 3rd party warranty companies, all saying similar things; that 3rd party companies are a nightmare for paying, and have refused to pay for work that was previously authorised, leaving the garage to pick up the pieces.
However, they won't give me a list of garages they work with, saying I can use any VAT registered mechanic. All the good local garages I normally use (and have used for 20 years) will not deal with 3rd party warranty companies, all saying similar things; that 3rd party companies are a nightmare for paying, and have refused to pay for work that was previously authorised, leaving the garage to pick up the pieces.
e. Wriggling out of any claim they could on any sort of technically.
Forums | General Gassing | Top of Page | What's New | My Stuff