To 'extended warranty' or not to 'extended warranty' - that is the question!

[Watchesandburgers]

What are the group's thoughts on extended warranties? My 2022 Taycan's factory warranty is up in Q3 of this year. In my 2+ years of ownership I've had what I can only describe as a relatively normal reliability experience. Door handle issues (replaced one), a charge door that wouldn't open (replaced charge door motor), green discoloration on the door seals (cleaned as best they could), all of the recalls, etc. As seen in my previous posts, I had six battery cells replaced under warranty this year, a repair that took three months.

I don't have pricing for an extended warranty yet - I'm working on it - and I know that the battery is covered for eight years / 100k miles. I plan to keep the car long term, at least until 2030 when the battery warranty expires.

Thoughts, comments, facepalm emojis (because duh, this car is horribly unreliable!), questions? What do you think?

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[SergeyIndy]

I think we have a consensus on this situation, and it is to always have Taycan warranty (AHTW), let's make it a 4 letter. The recommendation is to align your extended warranty to 8 years and 100k miles. The quotes that I have recently seen are in a $7k-8k range. This is what I plan to do when my warranty expires next year. The rationale here is that even the smallest repair will eat up this cost quick on the labor alone as dealers set their own hourly rates which range in a $300-$500 an hour and corporate sets the hours, multiplying them results in very high dollar figures.

Example: I have swapped my steering wheel from Leather to Race-tex and the labor, for this straightforward job was $945 and could not have taken 2 hours to do.

 

[Tooney]

6-page thread

 

[JackSparrow]

There are other threads as well regarding CPO, CPO warranty extensions, Porsche branded service contract, other service contracts of various durations, and of course “self-insuring”.
In one of those threads someone had posted this link:
https://warranty.porsche.com/de/de-DE
This seemingly allows you to extend your Porsche warranty as long as it is still in effect. It does state it’s available worldwide. This appears to be the actual warranty and not a service contract. I went as far as getting a quote, it is in Euros so exchange rate affects the cost. My experience with CPO and the original warranty has been good with Porsche so far.
I have self-interest in posting this, as I’d like to see if this works for a US-based vehicle.

 

[tbinmd]

keeping the car? Do you feel lucky? It is a German car with the Porsche tax.

we bought an extended warranty and plan to keep the MY22CT4 8 years.

 

[mkg3]

Since the vehicle is 2022, couple of clarification question:

- Bought the vehicle or the extended warranty?​

- 23k miles in 4 years seems low but your avatar image shows the vehicle at the COTA so do you tack the vehicle often?​

​

Just trying to understand the context of the issue as I am considering 4s or GTS purchase.

Thanks in advance.

 

[gnr3312]

That commute must be killer if you drive it daily and only put very few miles in 4 years

 

[BjörnfromHamburg]

One warranty-thought every day keeps a lot of trouble away.
No Taycan without warranty, even if you have your own shop.
It's mandatory.

 

[PorscheTaycan]

I have extended warranty for another 3 years from now until 2029. Peace of mind. I don't own an EV without one.

 

[Sar]

Companies will always offer insurance at a price where on average they profit. It's all whether you feel like taking the risk or not, but on average youd spend more money on the insurance than not insured. On average.

 

[69Mach390]

Companies will always offer insurance at a price where on average they profit. It's all whether you feel like taking the risk or not, but on average youd spend more money on the insurance than not insured. On average.

It’s not just a little more either, the margins are huge for the people selling the warranty and the warranty companies.

When you buy a warranty they have plenty of money to pay profits to the salesperson, profits to the dealer, money for marketing, money for all the employees of the warranty company and profits for the warranty company.

Only about 12 cents of every dollar goes to pay for actual claims.

Despite what has been said there is no consensus. Many people buy them, many don’t.

If you do buy one, definitely shop around for a cheaper deal. If you don’t, make sure you can afford a major repair if it happens.

And yes, this car can be expensive to fix, but that’s why the extended warranty is so expensive.

For comparison an 8 yr 100k warranty on my last car (Mustang Mach E) was only $1400.

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