Extended warranties

leeruddecology

Good morning all,

After checking some of the old posts I thought I would ask this question again in case opinions have changed.

I have a golf mark 6 with 35k miles and the manufacturer warranty will expire in sept. 2015(62 plate) I do about 15-18k miles a year.

I was looking at getting a new car with of course 3 years manufacturer warranty. But thought I would look at getting an extended warranty. To upgrade my car would cost 8k and I would have a new car and warranty etc. few extra toys.

Or I can keep my existing car and get an extended warranty. Warranty wise quoted me £345 a year or 1050£ for 3 years. This is their full package with wear and tear, although they only covet 12k miles a year. There were of of course exception.

Anyone had warranty wise before. I am happy to pay for peace of mind. So far my golf has not had a problem. 2.5years old and I am happy with it as well. It gives me everything I want in a car.

But my options are:

1. Extend warranty and keep existing car. Cost £1050 for three years. No free servicing.

2. Just keep the car with no warranty

3. But a new car (mark 7 golf) which isn't that different but has some cool toys and another 3 years warranty and 3 free services.

Any views?
I know last time I got a new car it was that or a mortgage deposit! Thanks

Spicy_McHaggis

Do VW offer an extended warranty?

The other one isn't worth the paper it's written on, especially as you'll exceed the mileage restriction.

leeruddecology

Thanks for reply. I mentioned that I was looking at getting an extended warranty at my VW dealership and they said nothing. Perhaps I direct question to VW themselves. Do you do extended warranties!

Mileage. Yes I will go over it and I think they make you pay a certain undisclosed % for exceeding mileage in the event of a claim.

worried_jim

leeruddecology wrote: »

1. Extend warranty and keep existing car. Cost £1050 for three years. No free servicing.
Any views?

£1050 should cover the cost of maintaining your car for 3 years with a bit left over in case any extras are needed, + its unlikely any warranty would pay out any way citing wear and tear exclusions etc.

leeruddecology

I have seen that VW do offer extended warranty. A call back has been requested. I'll keep you posted.

I do like the idea of placing theoney in the bank to get interest. But, insurance and a gamble at the best of times. Sometimes you must have them and others like this you don't.

forgotmyname

Google Warranty Wise or any of the aftermarket warranties and im sure peace of mind wont be in the results.

Pain in the A.. more like.

jimjames

Option 2.

But save some money if you don't have an emergency fund you could use for any repairs.

leeruddecology

Thanks for your help guys.

I think option 3 is not suitable. A house is more important on my wish list.

Still undecided on option 1 & 2. I'm waiting on VW to see what their warranty would cost.

I could save some money, instantly by not buying a warranty. That would be 1000£ in the bank. What kinda pot do people/you have for your car? I.e repairs and servicing pot. Or are you an oh Sh*t i've got a huge bill, now to find some money.

CTcelt1988

Companies like Warranty Wise wriggle out of paying out. It's really hard to get them to pay for anything, they say it's fair wear and tear in a claim. They get bad reviews.

jimjames

leeruddecology wrote: »

Thanks for your help guys.

I think option 3 is not suitable. A house is more important on my wish list.

Still undecided on option 1 & 2. I'm waiting on VW to see what their warranty would cost.

I could save some money, instantly by not buying a warranty. That would be 1000£ in the bank. What kinda pot do people/you have for your car? I.e repairs and servicing pot. Or are you an oh Sh*t i've got a huge bill, now to find some money.

Do you have any savings?

I don't have anything specific for my car but it's generally suggested to have 3-6 months worth of salary or expenses saved as an emergency fund.

straighttalker

I would think 3-6 months of salary saved is a bit over the top for a slush fund to cover emergency car repairs. This would buy a whole new car!