Can you help clear my warranty thinking please? Economists and Psychologists :) What would you do?

Bachelorplace

Question:
Do I renew manufacturer warranty or not for a quite Expensive Luxury Saloon 2016 model which is basically worth about £25k today. 
Warranty Option 1: 
£1316 for one year with £250 excess per claim. 
Warranty Option 2:
£1685 for one year with £100 excess per claim.  
Warranty Option 2a:
A lower grade warranty covering everything except the computer and digital dash - but buying this may help with any case. This cost is either £800 for main drive parts £1000 for a few more and so on. 
Warranty Option 3: 
DO NOTHING AND PRAY or use statute of limitations with selling dealer. This car company are known to "help" some of their customers when things go wrong on lower mileage cars. They have a "kindness" policy in place which I have experienced 4 times. There is always a risk they would say no and its a hassle fighting them in that case. 
Warranty Option 4: 
Sell the car privately and roll into another car - at the wrong time of year due to pent up demand and low stock.
Warranty Option 5: 
Pay as you go with anytime cancel per month on either deal, either £225 per month pay as you go no excess, or £175 per month pay as you go with £250 excess.
Conundrums:
1. Car is fitted with tons of extras, head up display, air suspension, special laser matrix style lights, a big screen computer and digital dash, 4 wheel drive system. Any fault whatsoever for this car is not going to be cheap.  Car is too new to be able to get my own parts and have an independent do it. 
2. It may be the worse time to try and change into a new car now or replacement - no deals available due to market demand. 
Advantages:
1. Peace of mind. These cars can go wrong. I have had around 4 warranty claims in two years minor things, so lets say 2 - including recently an engine EGR valve needing replacement - cost would have been £700.00 ( not the end of the world )
2. Can sell the car to a person in the winter or next year including the warranty.
Disadvantages: 
1. its expensive and not sure which one to get. 
2. Anxiety of fighting with dealer in event of issue
3. Not run a car out of warranty for 10 years +

The_Rainmaker

Jaguar   ?

AdrianC

Option 5. Don't take the warranty, and regard yourself as ahead if it "only" costs you a grand and a half a year on average.

Over the two years you've had the car, you're over two grand up by using this logic... So anything short of three and a half grand's-worth of bills over the next year will see you ahead cumulatively.

Remember - warranty companies take money in from premiums, and they pay money out in claims. And their profit is not just the difference in those two, but after they've also paid out tax, salaries, marketing costs, office costs, etc etc etc. And if they weren't profitable, they wouldn't do 'em. An aftermarket warranty is a gamble that your car is going to be far less reliable than average. Who really wants to win that gamble?

Bachelorplace

Like that Adrian C... can you simplify that a bit for me?  I have mild dyscalculia - I am ok with words tho  
So you are saying that if I do nothing I have the option to pay up to £1600 for a single repair in this coming year.
Which could essentially equate to a £3200 repair if the manufacturer pays half out of kindness, another thing I have heard them offer. 

marlot

In part I think it depends on whether paying a claim yourself would have a significant impact on your finances.
I drove some lovely company cars, but I wasn't paying the bills.
Now that I've retired, the cars on my drive are Honda, Mazda and Kia.  I cannot remember the last time I had a breakdown.

k3lvc

Key part of the decision for me (and I've been in similar conundrums) is how friendly are you with your dealer ? An out of warranty claim is much easier with them on board (esp. if they're doing all servicing and they think you may buy another one in the future). Also don't underestimate some of the advantages that may come with the manufacturer extension - breakdown/MOT/key cover etc)
Finally are there any benefits in taking it for more than a year and can you cancel if no claims part way through ?
If it is Jaguar then I did the full whack on my used XF and it paid off for me with a big claim that even if Jaguar had contributed would still have left me worse off tan the cost of the warranty

Ditzy_Mitzy

Sell car.  You do not need: four wheel drive, bouncy castle air-suspension, big screen telly with Sky Sports in the dashboard or 'laser matrix style lights' - whatever they are.  I assume they're a sort of moody green colour and powerful enough to pierce a hole within our simulated reality and illuminate the tedious machine war going on in the real world.   
What you do need is a car that causes you less of a headache and isn't a constant worry.  A nice, reasonably priced one with two wheel drive, spring suspension, a radio and headlight style headlights with bulbs in does the job just as well. 
Have one less concern.  Be happy!

Bachelorplace

HAHAHAHHAHAHAH LOL  @Ditzy - are you my XBOX mate in disguise? He always calls my car HMS Big asks me what time I intend to dock and how many passengers on board.  ---- Bouncy Castle hahahahahaha - Sky sports hahahahah. 

But - Sumptuous calming Nappa leather in cream, beautiful mood lights wash the cabin with an array of colours, ochestral sound staging and deep bass sooth on long journeys, and full colour head up display delights on every journey. Even if it does not go round corners. 

Actually the aser lights were the worst part of the car and are less bright and less fun than normal LED adaptable ones. What a waste of money they are. I bought it used. Partly with a £5k voucher, so my motoring has been subsidised until now in a way. 
Headache? Well that wont be a Tesla then will it - Most cars have headaches if you suffer from Anxiety!

@marlot - not an issue with funds - but I am not going to like a big bill, or arguing for kindness. But again I can if need be. 
@k3lvc - yep I would say well above average with them, many many years of things gone through.

[Deleted User]

Well said ditzymitzy. Life is too short. 

Your concerns would suggest that you can’t afford to run this car. 

I would cut my losses and get rid. Normal cars are so nice now that you don’t need to spend silly money to get luxury. 

You need to be a millionaire to run a Range Rover or Jaguar now. 

MinuteNoodles

The big screen computer and digital dash will absolutely not go wrong. Where I work we have a fleet of over 150 lorries and they're all fitted with these. By the time we change the lorries they're 5 years old and over 1,000,000km or 600,000 miles and not one of them has ever had a display fail, likewise the LED rear sidelights. And in a speed limited lorry doing 50MPH or less average speed over a day it takes a lot of hours to rack up that mileage, many more than you'll ever drive your car for in your ownership.

Why was the EGR £700? My wife needed the one on her van replacing, it's £200 for the part (yes I know you can get one for £60 but it's French and french vehicles are funny with electrics and non-genuine parts) and you have to take off the whole front of the vehicle to get to it so it's the best part of a day's work and it didn't cost £700. 

I'd save the money I'd have paid on extended warranty as an emergency fund to pay any repairs. I'd also find a cheaper place to get them done than you've been using. If you've been using the main dealer look at an independent specialist instead as they'll be both cheaper and often more knowledgeable.

facade

If you are choosing between warranty #1 and #2, stick with #1, you would need 3 or more claims in a year to make #2 cheaper.