Quote:
Originally Posted by P1et
I know people get tired of hearing this, but I say to always make sure you buy a car with a warranty and you won't have to worry about them being reliable or not. Of course, if you're buying an older one which has high miles and no warranty left, then you might want to get a pre-owned inspection. And make sure the car you're buying has full service history. Then just put money aside each and every month for possible repairs down the road.
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Sorry... For the most part, Extended Warranties are for suckers:
http://www.clarkhoward.com/news/clar...er-vehi/nCKZt/
I have a vehicle that is one of if not THE most NOTORIOUS for foking up out of warranty! Guess what? I'm out of factory warranty... And it has! BUT... My out of pocket cost for repairs was FAR less than ANY available extended warranty out there! Here's a breakdown: The absolute cheapest for my car was @ $5k. I have spent maybe a grand on repairs. Now I will say that initially, I paid out of pocket $2k for injectors. But BMW reimbursed me under a specific Customer Campaign. Lucky? Maybe. But even then I would be MUCH better off than the initial $5k!
And before my F01 I owned two e65 7 Series. Both had factory warranty initially but that ran out and I ended up spending @ $1,400 on one and $2,500 on the other for timing chain. Guess what? The extended warranties were $4k had I bought them. But instead I pay from my own savings should the need ever arise. Also, I don't believe in buying high-end cars brand new. Meaning any car that has a MSRP over say $75k, I'm buying pre-owned all day every day! No way am I taking that 20-30% depreciation hit that continues each year. Fok that! I wait @ 2-3yrs and save @ $25k-$50k (as I have several times) and have a ultra clean, low mileage well pampered car that I own (keyword) and can turn around and sell at a profit (depreciation adjusted) and grab another $100k car until I'm ready for the next.
Not saying everyone should follow my example, but it damn sure works for me. I too am considering a gently used, low mileage 997 and will save tens of thousands in the process.
Oh and good luck OP. I think you'll be just fine.
