When the vehicle one wants is so niche (either in form or form factor) that it is made only by manufacturers with bad track record on reliability. And even then, it should be exclusionary and reasonably priced.
Often time, the warranty is for all the ancillary components that are super expensive to replace. Think some integrated (but hard to reach) touch screens that go out in 7th or 8th year of ownership.If you’re familiar with BMW, I’m sure you’ve seen the near universal advice on-line to “never own a BMW that is out of warranty”. So looking at an extended warranty seems prudent……From truly a financial perspective, I agree with buying a car that doesn't need an extended warranty.
However, in my case, we like to buy Porsche/BMW because we like the way it drives. This is one of the few vices that I have and I am in a position to do so without any significant financial impact. So, given the fact that we choose to own these cars, the next questions are:
1) Should I buy an extended warranty?
(My answer has been yes because they have more than paid for themselves in the past. My Porsche had $4k in repairs 2 months ago of which 100% was covered)
2) When should I buy an extended warranty?
That is the million-dollar question for which I am soliciting your input.
Regarding the observation of the previous poster, I agree that $100 deductible makes the most sense.
The good news is, apparently the B58 engine is a real gem, and highly reliable. I think your car has that, which is great news. Of course there are lots of other things that could go wrong where a warranty would help…..
For you, I’d just consider the extended warranty to be “part of the price” of owning that car. And just enjoy the heck out of it.
Statistics: Posted by InvisibleAerobar — Tue Jul 23, 2024 12:01 pm — Replies 9 — Views 354