Porsche approved warranty extension?
Discussion
Hi, hope someone can help with the following.
Am considering a 2005/55 porsche with 112,000 miles on the clock. FPSH. 5 months porsche approved warranty remaining.
My plan is to extend the warranty for another 2 years before it runs out, and also before it reaches the 125,000 mile limit.
However, according to the Porsche terms and conditions, you can extend the warranty if the car is under 10 years old and is under 125,000 miles.
1) Does this mean as long as you extend the warranty before 125k you're ok?
OR
2) Does this mean you can extend but once it passes 125k you are no longer under warranty?
I have had two different responses from local OPC's, do any members have additional knowledge or insight on this?
Thanks
Nick
Am considering a 2005/55 porsche with 112,000 miles on the clock. FPSH. 5 months porsche approved warranty remaining.
My plan is to extend the warranty for another 2 years before it runs out, and also before it reaches the 125,000 mile limit.
However, according to the Porsche terms and conditions, you can extend the warranty if the car is under 10 years old and is under 125,000 miles.
1) Does this mean as long as you extend the warranty before 125k you're ok?
OR
2) Does this mean you can extend but once it passes 125k you are no longer under warranty?
I have had two different responses from local OPC's, do any members have additional knowledge or insight on this?
Thanks
Nick
Extended warranties are profit centres for Porsche. That means that on average, you will pay more for the warranty than you would for repairs as they come due. Buying an extended warranty makes no economic sense. All it does is give you certainty over the amount you'll be coughing up for maintenance. But that certainty on average comes at a premium over the actual costs. Why pay more?
RankAmateur said:
Extended warranties are profit centres for Porsche. That means that on average, you will pay more for the warranty than you would for repairs as they come due. Buying an extended warranty makes no economic sense. All it does is give you certainty over the amount you'll be coughing up for maintenance. But that certainty on average comes at a premium over the actual costs. Why pay more?
The extended warranty costs about £2.3k over 2 years. If nothing major goes wrong there will still be some work done over that 2 years for bits and bots lets say about £1k worth.For for £650 per year you you will have peace of mind that you need a £15k engine rebuild your covered.
Edited by TheBMWDriver on Sunday 31st March 10:39
TheBMWDriver said:
For for £650 per year you you will have peace of mind that you need a £15k engine rebuild your covered.
An extended warranty is like any insurance: it's a profit centre for the reseller. The 100+ checks Porsche do before writing an extended warranty are designed to near-as-dammit eliminate those engine failure candidates and other costly breakdowns from the pool of cars they underwrite. If your car is a risk, they don't offer the warranty, or charge the earth for it. There is no magic: Porsche wouldn't be offering extended warranties if on average they weren't profitable for them. So, on average, you pay more than you get in terms of money's worth. Edited by TheBMWDriver on Sunday 31st March 10:39
I've had 2 cars with the extended warranty, and call me unlucky but the warranty has definitely been to my benefit. My first porsche was a 2006 C4S bought in 2011. In one year the bills for repair work would have been about £4k. I recently purchased a 2010 Turbo 911 and within the first couple of months they had to fix the cruise control, replace thensunroof cassette, driver side window glass, not to mention a few other things. Both cars were bought from Porsche, so as I say, call me unlucky but I'm pleased its covered. It's the peace of mind that if I hear a "new noise", porsche will pick up my car from me before I go to work, fix it and return it to me valeted - no problems for me having to book in a time on a weekend where it is available etc.
Furthermore, because of these issues, they footed a £830 bill to replace my central rad when a stone destroyed it. Not under warranty, but under goodwill.
As others say, of course it is a profit generator for them, which is why they ensure you are treated well, otherwise no one would buy it. They also restrict you in terms of what you can do to and with the car to minimise their risk.
It's all down to luck at the end of the day - "are you feeling lucky, punk?!"
Furthermore, because of these issues, they footed a £830 bill to replace my central rad when a stone destroyed it. Not under warranty, but under goodwill.
As others say, of course it is a profit generator for them, which is why they ensure you are treated well, otherwise no one would buy it. They also restrict you in terms of what you can do to and with the car to minimise their risk.
It's all down to luck at the end of the day - "are you feeling lucky, punk?!"
RankAmateur said:
An extended warranty is like any insurance: it's a profit centre for the reseller. The 100+ checks Porsche do before writing an extended warranty are designed to near-as-dammit eliminate those engine failure candidates and other costly breakdowns from the pool of cars they underwrite. If your car is a risk, they don't offer the warranty, or charge the earth for it. There is no magic: Porsche wouldn't be offering extended warranties if on average they weren't profitable for them. So, on average, you pay more than you get in terms of money's worth.
On that basis I assume you don't have buildings insurance, contents insurance, life insurance, only have third party car insurance etc.....
sidicks said:
On that basis I assume you don't have buildings insurance, contents insurance, life insurance, only have third party car insurance etc.....
Ah but I do have those insurance covers - because if ever my house burned down, I wouldn't have the cash to pay for the loss myself. That's the difference: if you can afford to cover the loss case, even if painful, you self-insure, if you can't, you buy insurance. So no extended warranties, no tyre insurance, no GAP insurance, no trackday insurance, etc, for me 
RankAmateur said:
Ah but I do have those insurance covers - because if ever my house burned down, I wouldn't have the cash to pay for the loss myself. That's the difference: if you can afford to cover the loss case, even if painful, you self-insure, if you can't, you buy insurance. So no extended warranties, no tyre insurance, no GAP insurance, no trackday insurance, etc, for me
This is how I see warranties. If I had a warranty on everything I owned, I would be a poor man.Gassing Station | Porsche General | Top of Page | What's New | My Stuff