To warranty or not to warranty - tough question
Discussion
Hi all,
I just wanted to get a view on how many here self warranty their cars?
I've just picked up my 570 spider (reg'd Jan 18) and am in 2 minds about warranty versus self insurance. In the last year it's had full front and rear suspension (including arms, wishbones etc)
If I go warranty it would be via Rennworks as its had 2 indie services so Mclaren one wouldn't be viable.
I'm in 2 minds as to whether to put 3k a year aside or stump up for warranty i may not require over a year.
I'll be doing approx 4 to 5k a year
Gratuitous picture just because...
I just wanted to get a view on how many here self warranty their cars?
I've just picked up my 570 spider (reg'd Jan 18) and am in 2 minds about warranty versus self insurance. In the last year it's had full front and rear suspension (including arms, wishbones etc)
If I go warranty it would be via Rennworks as its had 2 indie services so Mclaren one wouldn't be viable.
I'm in 2 minds as to whether to put 3k a year aside or stump up for warranty i may not require over a year.
I'll be doing approx 4 to 5k a year
Gratuitous picture just because...
This has been done to death there is no right answer. This thread will shortly be filled with the usual mix of people who say anyone who doesn't get a warranty is insane alongside people who insist warranties are worthless.
My opinion is this; what you are buying with a warranty is peace of mind. In the long run the average warranty will pay out less than the average premium, if that wasn't true warranty companies would lose money. If you are the kind of person who winces at the thought of a £3000 bill, and will use their car less because it might break, or who will enjoy each drive less because they are worried about every little noise, then a warranty is worth the money because it will allow you to enjoy your car more. That ability to enjoy the car a bit more is what you are buying.
If, on the other hand, you are like me and are happy to stick some money in a s
t-happens fund, and can enjoy the car to the fullest without worrying about potential costs, then a warranty probably isn't worth it. I know that in the very long run warranties are rarely worth it on a purely financial basis, and I'm quite happy to absorb the occasional big bill knowing it will even out over the years, so a warranty isn't worth the cost for me.
Only you know which of those two types of people you are.
My opinion is this; what you are buying with a warranty is peace of mind. In the long run the average warranty will pay out less than the average premium, if that wasn't true warranty companies would lose money. If you are the kind of person who winces at the thought of a £3000 bill, and will use their car less because it might break, or who will enjoy each drive less because they are worried about every little noise, then a warranty is worth the money because it will allow you to enjoy your car more. That ability to enjoy the car a bit more is what you are buying.
If, on the other hand, you are like me and are happy to stick some money in a s
t-happens fund, and can enjoy the car to the fullest without worrying about potential costs, then a warranty probably isn't worth it. I know that in the very long run warranties are rarely worth it on a purely financial basis, and I'm quite happy to absorb the occasional big bill knowing it will even out over the years, so a warranty isn't worth the cost for me.Only you know which of those two types of people you are.
ajm_ph said:
This has been done to death there is no right answer. This thread will shortly be filled with the usual mix of people who say anyone who doesn't get a warranty is insane alongside people who insist warranties are worthless.
My opinion is this; what you are buying with a warranty is peace of mind. In the long run the average warranty will pay out less than the average premium, if that wasn't true warranty companies would lose money. If you are the kind of person who winces at the thought of a £3000 bill, and will use their car less because it might break, or who will enjoy each drive less because they are worried about every little noise, then a warranty is worth the money because it will allow you to enjoy your car more. That ability to enjoy the car a bit more is what you are buying.
If, on the other hand, you are like me and are happy to stick some money in a st-happens fund, and can enjoy the car to the fullest without worrying about potential costs, then a warranty probably isn't worth it. I know that in the very long run warranties are rarely worth it on a purely financial basis, and I'm quite happy to absorb the occasional big bill knowing it will even out over the years, so a warranty isn't worth the cost for me.
Only you know which of those two types of people you are.
Spot onMy opinion is this; what you are buying with a warranty is peace of mind. In the long run the average warranty will pay out less than the average premium, if that wasn't true warranty companies would lose money. If you are the kind of person who winces at the thought of a £3000 bill, and will use their car less because it might break, or who will enjoy each drive less because they are worried about every little noise, then a warranty is worth the money because it will allow you to enjoy your car more. That ability to enjoy the car a bit more is what you are buying.
If, on the other hand, you are like me and are happy to stick some money in a s
t-happens fund, and can enjoy the car to the fullest without worrying about potential costs, then a warranty probably isn't worth it. I know that in the very long run warranties are rarely worth it on a purely financial basis, and I'm quite happy to absorb the occasional big bill knowing it will even out over the years, so a warranty isn't worth the cost for me.Only you know which of those two types of people you are.
As above - would a £15k bill ruin it for you? I realise it is not likely, but it is possible.
For me I'd warranty for year 1 and then not bother. Not necessarily because I'd have an issue financially, but I'd never hear the last of it from my wife if it cost a lot within a short time.
For me I'd warranty for year 1 and then not bother. Not necessarily because I'd have an issue financially, but I'd never hear the last of it from my wife if it cost a lot within a short time.
ex-devonpaul said:
As above - would a £15k bill ruin it for you? I realise it is not likely, but it is possible.
For me I'd warranty for year 1 and then not bother. Not necessarily because I'd have an issue financially, but I'd never hear the last of it from my wife if it cost a lot within a short time.
In my house, when it comes to car purchase and maintenance costs we have a don't-ask-don't-tell policy that has served us well for many years.For me I'd warranty for year 1 and then not bother. Not necessarily because I'd have an issue financially, but I'd never hear the last of it from my wife if it cost a lot within a short time.
No warranty here.
If you're paying McLaren dealer prices for repairs, you may well want a McLaren warranty to cover them.
Conversely a good indie may reckon to fix almost anything for less than the annual McWarranty premium, leaving you better off without a warranty.
It's important to remember a warranty isn't a maintenance plan, parts will still legitimately wear out in use such as brake discs and pads, rubber bushes etc and need replacing. So it only covers a portion of the costs.
I also have a general concern with any used-car warranty as to whether you're actually buying peace of mind, or merely an opportunity to have an argument about whether the issue is covered, whether you've adequately evidenced and documented the problem, whether the problem is now 'consequential damage' of the real failure, if you crossed your is and dotted your ts with servicing, if you stopped driving immediately the issue surfaced, the labour rate they will cover, extra work needed while it's being repaired, etc.
SchillingTwo said:
I had an (in my opinion) completely unreasonable rejection for warranty work on mine. So paid £5,000 for the warranty and £6,000 for the work that the warranty should have covered.
In the six years since I ve neither had a warranty nor had any work needed doing.
What was the work that the warranty should have covered ?In the six years since I ve neither had a warranty nor had any work needed doing.
TBCTBC said:
If I can, I plan on buying with a Mcwarranty, taking it to an indie for a detailed inspection before than expires, get anything identified fixed under the warranty (if I can) then self insure
Does anyone know if V have a supplier who can sort paint corrosion and/or do tyres?
Yes - Expect they'll use Chroma Concept (Top tier McLaren Approved Paint Shop) and local supplier for tyres. Have used Chroma who I understand do a lot of MSO work and are excellent.Does anyone know if V have a supplier who can sort paint corrosion and/or do tyres?
SchillingTwo said:
Accumulators.
Six grand for accumulators WTF? As I understand it they are a few hours work to change, simple enough that some people do it themselves. I know the Thorney accumulators are £250 each, and V do their own as well for a similar price. What are the Mclaren ones made of, diamond and unicorn hair?!?!TBCTBC said:
JPCGT said:
Yes - Expect they'll use Chroma Concept (Top tier McLaren Approved Paint Shop) and local supplier for tyres. Have used Chroma who I understand do a lot of MSO work and are excellent.
Thank you, that's very helpful.ajm_ph said:
Six grand for accumulators WTF? As I understand it they are a few hours work to change, simple enough that some people do it themselves. I know the Thorney accumulators are £250 each, and V do their own as well for a similar price. What are the Mclaren ones made of, diamond and unicorn hair?!?!
The Thorney ones were not available back then, and the McLaren ones cost an awful lot more.There are any number of cheaper options nowadays than used to be the case. It was generally the case that you had to pay McLaren thousands of pounds for a battery until someone came up with a way to have the car accept a lead-acid replacement.
ajm_ph said:
This has been done to death there is no right answer. This thread will shortly be filled with the usual mix of people who say anyone who doesn't get a warranty is insane alongside people who insist warranties are worthless.
.
Long term Mac owner here, for me it's all about peace of mind, £3k or whatever the warranty cost is won't go very far if something, not even that serious drops off. Great cars though, things will need attention from time to time, right now I'm enjoying happy days with the Artura, 5 years warranty, 3 years servicing... big peace of mind! .
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