Extended Warranty - worth it?

[evn00b]

During the purchase process, the dealer asked whether I wanted to purchase extended warranty @ $10K. Has anybody purchased extended warranty on their Taycan? If it was not an EV, it would have made more sense to me but $10K just seems to be steep for a less mechanically complex EV. The dealer tried to convince me to purchase the extended warranty saying it helps with resale value but then in my family we drive our cars for 10+ years till they fall apart hence, resale value is not typically on my mind. What is the standard warranty coverage anyways?

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[Jhenson29]

There are still a lot things that can break and need replacing on the car regardless of drivetrain. I had to replace a speaker out of warranty on a Panamera and it wasn’t cheap. And there are EV specific things they could fail as well such as the on-board charger.

That said I’ll say what I always say, which is this is basically insurance and I alway skip it.

 

[kreshi]

10k? Can you give more detail? How many years are you getting without it and how many are added?

 

[evn00b]

Sorry forgot to mention - $10K for 10 years starting now. Another offer was $8.5K for 8 years.

 

[dutchcourage]

I would rather try to extend the warranty when the standard warranty expires. You then have the experience of two years of all the things that had to be replaced on your car under the guarantee and can then assess whether it is worth buying an extra eight years of guarantee. Of course, it also depends on your maximum mileage.

 

[W1NGE]

Sorry forgot to mention - $10K for 10 years starting now. Another offer was $8.5K for 8 years.

In UK all Porsche cars are sold with a 3 year warranty (used to be 2 years!!). The warranty can be extended after that via Porsche if required on a yearly basis (same warranty features).

What standard warranty do you get in US before thinking of extending it?

 

[Scandinavian]

10 k dollars for 10 years seem fairly ok. I guess only you know how long you intend to keep the car.

I have just extended my warranty, and the cost for it was 1990 Euro for 1 year or 3200 Euro for 2 years extension. The warranty period here in France is only 2 years, so I think it was worth extending it, given all the small issue with the comms module and now the heating that have occurred since purchase.

 

[tbinmd]

What standard warranty do you get in US before thinking of extending it?

In the US the standard warranty is 4 years/50,000 miles. A 10 year warranty doesn't kick in until year 5 or your mileage is above the 50k miles.

OP fails to mention the number of miles the warranty covers. If you put the miles on you maybe out of warranty before the time is up.

 

[jkoya]

Sorry forgot to mention - $10K for 10 years starting now. Another offer was $8.5K for 8 years.

Is that extended warranty a Porsche product or from a third party ?

 

[satchurator]

@evn00b Grateful for your question, this has been on my mind also. I'll share my thoughts and what I've learned about extended warranty considerations in the US market...

Prior to my CT4 I had a 2013 Diesel Cayenne. Due to it being CPO and also from the dieselgate settlement, I had unusually long warranty coverage which only expired in June 2021. I neglected to get an extended warranty beyond that. Ironically in July 2021, the same month I ordered my CT4, my Cayenne had a series of spontaneous problems for which I sank about $6K into repairs.

So I am biased from my experience: if you expect to keep the car for even one year beyond the conclusion of the standard warranty, it's probably worth doing an extended warranty IMO.

You could delay your decision until the final year of that standard warranty, but if you do plan to add extended warranty, it's better to do so *before* the standard warranty expires.

Ahead of my CT4 delivery, I had been researching extended warranties in anticipation of maybe negotiating a good deal at the time of purchase. The Porsche extended warranty is expensive, and is subject to dealer markup. You can find similar, less expensive coverage from 3rd parties. For example, back in September 2021 I got the following quote for a Fidelity extended warranty on the Taycan:

With $250 deductible:
5 yr / 60K - $1959.00
5 yr / 100K - $2883.00
6 yr / 60K - $2222.00
6 yr / 100K - $3421.00
7 yr / 70K - $2856.00
7 yr / 100K - $3611.00
8 yr / 80K - $3226.00
10 yr / 100K - $4219.00

Whether with the Porsche EW or a 3rd party EW, it's important to understand what it does and does not cover. In the case of the Fidelity EW, at the time of quoting it did not cover air suspension or the battery. To replace those out-of-pocket would be brutal.

Ahead of the November 2021 delivery of of my CT4, my plan was to evaluate the Porsche EW to see what it covers (particularly re: air suspension) and then wield the Fidelity quote to negotiate a more reasonable price on the Porsche EW if its coverage was better. I would have gone for 8 years total coverage to match the Porsche battery warranty with the assumption that I would sell the Taycan by the 8 year mark rather than risk the massive cost of a battery replacement.

When I took delivery of my CT4 in November 2021 and sat with the dealership F&I guy, the Porsche EW wasn't being offered at all. So I decided I would hold off until that becomes available again in order to make the comparison.

Another reason to wait on EW purchase until year 4 of the standard warranty is that, with the growth of EV sales in the USA, I am guessing that 3rd party EW coverage will adapt to covering this category more thoroughly (e.g. to cover the battery replacement beyond Porsche's 8 years).

 

[User name]

I never kept a car for more than 3 years, even if many times I said "this car will be my forever car", eventually the excitement runs low and a different car catches my eye, so EW is not in the cards for me. I like to see what else is there on the market car wise.

 

[tigerbalm]

The warranty period here in France is only 2 years

I didn't know that. I assumed 3 years was an EU wide thing.

 

[Sushivore]

Interesting. When I picked up my 4S, I was told that an extended warranty was not available.

 

[Cv009900]

There are still a lot things that can break and need replacing on the car regardless of drivetrain. I had to replace a speaker out of warranty on a Panamera and it wasn’t cheap. And there are EV specific things they could fail as well such as the on-board charger.

That said I’ll say what I always say, which is this is basically insurance and I alway skip it.

May I ask what the cost of a speaker replacement was?

Was it the standard ones?

Or did you have Bose?

 

[Jhenson29]

May I ask what the cost of a speaker replacement was?

I don’t remember the cost. I just remember thinking at the time “Maybe we don’t need speakers…”

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