Purchasing Porsche Extended Warranty 2 Years Into Ownership?

[PNWTaycan4S]

All,

Anyone experienced in purchasing an extended Porsche Warranty a couple of years post sale? I'm approaching 30,000 miles on my 4S+ after two years and given the range of bugs folks have experienced, I'd like to extend it beyond the 4-year US base Warranty that was included in the purchase. Clearly all about the actuarial tables and risk, but peace of mind does come at a cost.

Thanks for your thoughts.

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[02bluesuperroo]

Did you end up doing it?

 

[AyTifosi]

An extended warranty is simply insurance against a possible risk. How long are you thinking of keeping the car? The price of the warranty divided by the months you'll keep it = the cost of insurance per month. Does that give you a lot of piece of mind? If two of any of things that could happen, happen. What is your financial exposure? These decisions are often personal. Myself, I generally like the piece of mind. $6k / 36 months = $166/month. Cheap insurance? Or, crazy?

 

[Tucson_Jim]

Porsche is now offering their own extended warranty on Taycans. I'm extending my 4 yr/50K to 8 years/60k on a 2021 with under 5K miles because I don't plan on driving another 55,000 miles over the next 6 years. From personal experience, having an active extended warranty on a car when it's sold is a definite selling point.

 

[Sidicks]

Let’s be honest, the expected cost of claims is << than the premium you are paying, so economically it’s not a good deal.

However, what you are really paying for is the protection against tail risk claims which can be 10 x the premium paid, particularly on something like a Taycan.

For me, the peace of mind of knowing that any problem, no matter how big or small, is covered by the warranty is well worth the fixed cost.

 

[PNWTaycan4S]

Did you end up doing it?

I have not yet done, as the targeted extended warranty for the Taycan was not yet offered.

 

[PNWTaycan4S]

Porsche is now offering their own extended warranty on Taycans. I'm extending my 4 yr/50K to 8 years/60k on a 2021 with under 5K miles because I don't plan on driving another 55,000 miles over the next 6 years. From personal experience, having an active extended warranty on a car when it's sold is a definite selling point.

What price was quoted? My dealer is mediocre in most every category and has yet to give me the quote I've requested.

 

[BigBob]

Why are you worrying about extended warranty when you have 2 years left? Generally (in UK anyway) you are invited/able to extend warranty after the service immediately preceding the original warranty expiry.

Also you'll be paying upfront for something you may not even use eg you car gets written-off in 6 months time.

 

[Tucson_Jim]

What price was quoted? My dealer is mediocre in most every category and has yet to give me the quote I've requested.

I shopped five dealerships and got pricing from close to $6,000 all the way down to $3650 with one dealer coming in after I signed suggesting he could have beaten that price.

 

[Tucson_Jim]

Why are you worrying about extended warranty when you have 2 years left? Generally (in UK anyway) you are invited/able to extend warranty after the service immediately preceding the original warranty expiry.

Also you'll be paying upfront for something you may not even use eg you car gets written-off in 6 months time.

Three factors at least. (1) inflation. Two years from now Porsche could be charging more for it given parts and labor costs on the rise. (2) loss experience. I’ve never seen the price on insurance go down over time, but if the Taycan begins to show above predicted repairs under the base warranty, you can bet they will increase their extended warranty pricing down the road. (3). Marketing. Porsche is playing catch up against third party vendors of these warranties. If you want to gain after-warranty market share and improve current cash flow, what better way than to come out with competitive pricing and raise the bar after you’ve established a sales base?

I don’t know about the UK, but in the US, some states require that these warranties have a pro-rated cancellation provision that refunds the unused portion of your payment minus a small cancellation fee ($50 or less in AZ). Worst case, you have a transferable feature if you sell earlier.

 

[PNWTaycan4S]

I shopped five dealerships and got pricing from close to $6,000 all the way down to $3650 with one dealer coming in after I signed suggesting he could have beaten that price.

Thanks!

 

[Chas1]

An extended warranty is simply insurance against a possible risk. How long are you thinking of keeping the car? The price of the warranty divided by the months you'll keep it = the cost of insurance per month. Does that give you a lot of piece of mind? If two of any of things that could happen, happen. What is your financial exposure? These decisions are often personal. Myself, I generally like the piece of mind. $6k / 36 months = $166/month. Cheap insurance? Or, crazy?

Do you know the extended warranty options in the UK and whether you can buy this at purchase or after initial warranty period which I think is 3 years in the UK?

 

[Fish Fingers]

Do you know the extended warranty options in the UK and whether you can buy this at purchase or after initial warranty period which I think is 3 years in the UK?

Excuse my text editing (below) of the table. I did it to store in my Taycan Technical shitz album

Full details are here.
https://www.porsche.com/uk/accessoriesandservice/porscheservice/vehicleinformation/approvedwarranty/

 

[BigBob]

Excuse my text editing (below) of the table. I did it to store in my Taycan Technical shitz album

Full details are here.
https://www.porsche.com/uk/accessoriesandservice/porscheservice/vehicleinformation/approvedwarranty/

Well done. Don' forget to get the '111' point test done before your old warranty expires. warranty expiry (3yr) for UK likely to fall in middle of service cycle for a lot of us.

 

[Sidicks]

Do you know the extended warranty options in the UK and whether you can buy this at purchase or after initial warranty period which I think is 3 years in the UK?

In the UK, it is normal to consider extending the warranty when approaching the 3 year point, not before, and certainly not at initial purchase.

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