Car Warranties!

djamb

I just brought a 2007 207cc GT.I want to put a Warranty on it as I have only had it 3months and already its going into Peugeot for £900 work due to the timing chain:(-It looks like the finance company are gonna pay for it(thank god) but I would like to know if anyone knows anything about buying warranties-Any help appreciated!!!!!-No My car didnt come with a warranty on it!!!

Thanks for any help in advance!

cyclonebri1

Take a look very carefully at the t&c small print. You will find almost everything has a way of being excluded from being covered.:eek::mad:

My own view is that it's like any other insurance, and please accept that's what it is, it is weighed in favour of the supplier not you.

Having said that only you can make your decision.

casper_g

If you're offered a 12-month warranty for, say, £200 then effectively the warranty company is betting that the repairs they'll pay out for will cost less than that over the term of the warranty.* In my opinion, warranties are worthwhile only if you can't afford to take the risk yourself, effectively self-insuring.

Ask yourself how much of a disaster it would be if you had to replace your car out of your own pocket. If it would make money a bit tight for a month or two, you might decide to risk it. If it would wipe you out utterly, and you'd lose your job into the bargain as you couldn't get to work, you might decide a warranty was a sensible investment. You'd still have to allow for any problems the warranty didn't cover, though.


*OK, so it's a little more complicated than that. To the warranty company's credit they may have negotiated prices with garages that are better than the rates you could access (and they may pay for main dealer work whereas you'd go to a cheaper back-street garage if you were paying yourself). On the other hand all their own overheads have to come out of your £200 before they even start looking after your car, plus there will be lots of exclusions e.g. won't pay for replacing wear-and-tear items, won't pay for anything if it's not been serviced properly etc.

vax2002

It is insurance.
Insurance is the oldest scam in History.
It was invented by Slave traders.

forgotmyname

Goto the pet shop and buy some hamster bedding, Cheaper and more useful than a used car warranty.

scotsbob

cyclonebri1 wrote: »

Take a look very carefully at the t&c small print. You will find almost everything has a way of being excluded from being covered.

Some years ago I bought a car that came with a warranty. Had a problem with the brakes and found that pads, discs, drums, calipers, hoses, master cylinder and handbrake cable were all excluded. By my reckoning the only thing left was the actual brake pedal covered by the warranty.

Print_Screen

Get £200 worth in £5 notes. Put these through a shredder. Then set this alight.
It will be more useful than a warranty and at least keep you warm.

poppasmurf_bewdley

djamb wrote: »

I just brought a 2007 207cc GT.I want to put a Warranty on it as I have only had it 3months and already its going into Peugeot for £900 work due to the timing chain:(-It looks like the finance company are gonna pay for it(thank god) but I would like to know if anyone knows anything about buying warranties-Any help appreciated!!!!!-No My car didnt come with a warranty on it!!!

Thanks for any help in advance!

Why is the finance company paying? Has the dealer you bought from gone bust? Any problems arising under six months of ownership should be claimed against the selling dealer as they have a responsibility under the Sale of Goods Act.

Buying a warranty is paying twice for the same protection you already have - at least for the first six months.

cyclonebri1

scotsbob wrote: »

Some years ago I bought a car that came with a warranty. Had a problem with the brakes and found that pads, discs, drums, calipers, hoses, master cylinder and handbrake cable were all excluded. By my reckoning the only thing left was the actual brake pedal covered by the warranty.

Yep, so are most other systems on the car, to anyone buying this insurance go through those terms and conditions with a fine tooth comb,, you will be amazed at how little is actually covered, and to what lengths you have to go to to maintain that cover.:eek: