Used Car Aftermarket Extended Warranty Recommendation
Discussion
Beetnik said:
Every time you're asked to pay for a warranty, decline.
Put the equivalent amount of money to one side.
When something goes wrong draw on the reserve.
Enjoy spending what's left on something nice.
That's probably the best option in most cases, and a touch of luck that nothing too major happens in the early daysPut the equivalent amount of money to one side.
When something goes wrong draw on the reserve.
Enjoy spending what's left on something nice.
Certainly any of the non-manufacturer warranties are near enough worthless.
shtu said:
That's probably the best option in most cases, and a touch of luck that nothing too major happens in the early days
Certainly any of the non-manufacturer warranties are near enough worthless.
Agreed. I have a business converting Funeral Vehicles and got into bed with a major aftermarket warranty company to sell and administer their warranties. We got flashy POS, packs etc. Customers loved it for their peace of mind. Certainly any of the non-manufacturer warranties are near enough worthless.
Until they came to claim and said Warranty Company would then demonstrate more tricks than Paul Daniels why they wouldn’t be paying out..!!
The aggravation and reputational damage it caused was troublesome to say the least. We now have a ‘warranty pot’ which for every sale, we add the cost of buying said bandits warranties and we’re massively in surplus.
Never had a problem when buying used from a main dealer with their warranties however.
It's very much down to how you as an individual perceive risk. Do you worry a lot about unexpected bills? Are you financially in a position to pay a large bill.
A typical 3 year warranty might cost you £799, so putting that amount aside as savings could be a good idea for a vanilla car/shopping trolley.
Once you get to more specialist cars the idea of a warranty may be more appealing due to the risk of borkage. But how much would a 3 year warranty on a FFRR cost. It's unlikely to be £799 unless it's a very basic policy with low claims limits, and more likely to be double that.
There are one or two manufacturers that have decent aftermarket warranties. I bought a 2 year service package from VW for £25 a month which came with a near new car warranty as a bonus. I had to take the car in to be inspected before they took the car on cover.
If you want to read a horror story and understand why PH hates most of these scumbag warranty companies:
https://www.m5board.com/threads/warranty-direct-cl...
A typical 3 year warranty might cost you £799, so putting that amount aside as savings could be a good idea for a vanilla car/shopping trolley.
Once you get to more specialist cars the idea of a warranty may be more appealing due to the risk of borkage. But how much would a 3 year warranty on a FFRR cost. It's unlikely to be £799 unless it's a very basic policy with low claims limits, and more likely to be double that.
There are one or two manufacturers that have decent aftermarket warranties. I bought a 2 year service package from VW for £25 a month which came with a near new car warranty as a bonus. I had to take the car in to be inspected before they took the car on cover.
If you want to read a horror story and understand why PH hates most of these scumbag warranty companies:
https://www.m5board.com/threads/warranty-direct-cl...
vikingaero said:
...A typical 3 year warranty might cost you £799, so putting that amount aside as savings could be a good idea for a vanilla car/shopping trolley.
Indeed. And when you look at the decent 'official' warranty from the likes of BMW, that actually pay out, they charge £700-1000 a year. So you can see why the cheap aftermarket warranties don't pay out.
Increasingly garages don't want to deal with warranty companies. They try and pay unrealistic rates, argue over everything, approval for everything is needed and they have to wait to be paid.
Imagine. You get approval for some work, you start to repair it, something else it needed and they might refuse to cover that. Meanwhile the car is still broken and stripped on your lift. I wouldn't want to deal with them.
Imagine. You get approval for some work, you start to repair it, something else it needed and they might refuse to cover that. Meanwhile the car is still broken and stripped on your lift. I wouldn't want to deal with them.
Some dealers underwrite their own warranty. You still need to study the T&Cs but in my experience these can be a better bet. All depends on the integrity of the dealer.
A place local to me does this and I bought a 100k+ mile M235i from them earlier this year. It had a charging fault come on all the time (although it always started and ran) and an EML. Both were resolved without any quibble by the workshop onsite - joint owned by the car sales proprietor. I was even offered a courtesy car.
Very acceptable.
A place local to me does this and I bought a 100k+ mile M235i from them earlier this year. It had a charging fault come on all the time (although it always started and ran) and an EML. Both were resolved without any quibble by the workshop onsite - joint owned by the car sales proprietor. I was even offered a courtesy car.
Very acceptable.
Maccmike8 said:
Thank you for the replies.
Im 99% on a Yaris but then got tempted by an RS3 and thought I might be wise to have a monthly plan should/when something go wrong.
I wouldn't do that with the Yaris though.
An Audi RS3 or a Toyota Yaris? Are you serious?Im 99% on a Yaris but then got tempted by an RS3 and thought I might be wise to have a monthly plan should/when something go wrong.
I wouldn't do that with the Yaris though.
Assuming you are, the Yaris comes with a 10 year warranty - with certain conditions.
The Audi - well I would put some money in a tin under the bed, unless you can get a good manufacturers warranty.
Maccmike8 said:
Alickadoo said:
An Audi RS3 or a Toyota Yaris? Are you serious?
Assuming you are, the Yaris comes with a 10 year warranty - with certain conditions.
The Audi - well I would put some money in a tin under the bed, unless you can get a good manufacturers warranty.
I am.Assuming you are, the Yaris comes with a 10 year warranty - with certain conditions.
The Audi - well I would put some money in a tin under the bed, unless you can get a good manufacturers warranty.
You'll be looking for tunnels.
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