ne1 have experience with aftermarket warranty?

[Sportzcoop]

If I end up buying a new Z I want to get an after market warranty to cover the cost of repair. Does anyone know of any good ones? I have been looking at http://www.platinumwarrantycorp.com and am probably going to go with theirs. Anyone ever used them or know someone who did?

[Ice-9]

That concept seems odd to me - they just "instant quote"d me $1099 for 3 years of coverage on my Porsche (w/ $100 deductible). I guarantee that my car will cost me more than $1099 in repairs and standard maintenance during that period - are they saying that they'll just eat the difference? There's got to be mad loopholes in a plan like that...

[Sportzcoop]

$899 for three yrs and no deductible on a 1993 Z. I had them send me the complete contract and it seems legit, also they are a member of the BBB. If that means anything anymore. hmmm what to do what to do. Anyone have any dirt on this company?

[TheLoneGunman]

Warranties actually WORKED for me.

A few years ago, I bought a '95 Chrysler LeBaron from a dealer. Everything looked good and I was getting a real deal on the price ($7900 - below wholesale bluebook) I ended up paying about $1000 more for the 24 month total coverage warranty from them (a few hundred over what I could have paid if I shopped hard on the net)

Anyway, one week into owning the car, the convertible top motor goes out. The dealer started to make excuses, but once I said to put it on the warranty, they just hooked me right up (I think the bill was like $700) and they paid everything, including the $50 deductible. They even gave me a free rental, part of the warranty.

Never made another claim, but later when I totaled the car, they gave me a prorated refund of about $400 so I ended up coming out ahead on the deal.

Of course, your mileage may vary.

[TheLoneGunman]

Originally posted by DarkFury
Hey TLG... I thought we were talkin' about AFTERMARKET warranties here...


Mine was an aftermarket warranty.

The car was a USED car (turned out to be a former rental, not owned by the older couple the dealer claimed when I ran Carfax)

The warranty was issued by some yay-hoos in the midwest who had a hole list of exclusions on their "bumper to bumper" plan. However, convertible top motor was one of the things promoted in bold type as being covered.

[TheLoneGunman]

Here is my theory:

Questionable car at cheap price + reasonable price warranty = good deal

Good car + reasonable price warranty = questionable

Questionable car + Questionable expensive warranty = questionable

basically, a reasonable warranty can make up for the shakiness you feel about the seller. However, it is expensive and not worth it if you don't expect expensive repairs or you are worried about the warranty company paying off.