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

AdrianC

Bachelorplace said:

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. 

Exactly that.

You have £1,685. Put it in an envelope marked "CAR WARRANTY", somewhere safe.
If you need to pay a big bill, pay it from that envelope, with £100 from your wallet.

At the end of the year, I bet that envelope isn't empty.

Next year, put another £1,685 in the envelope, together with what's left from this year.
Repeat.

fred246

Better still put it in a savings account. It's still possible to get over 1% easy access. Put it in income bonds and you have a monthly payment from it. £1.61 every month.

Bachelorplace

Deleted_User said:

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. 

Interesting there are cheaper cars that offer some good materials and experiences yes. But ZERO after sales, As you will see I need it. Agree RR owners are mental. They don't even work properly. MinuteNoodles said:

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.

I hope not I have had screen of doom on one computer, I have had all my cars de rattled every single one - this car has had the main seat out twice for a creaky spring, and the lights are not as bright as a £3000 option might have you believe. I have had turbos go out of warranty and replaced, steering wheel, controller switches, binnacle, paint defects, faulty sunroof. All really minor things until this. And never had to have a replacement car whilst repair is being carried out - unless accident of-course.  
Not sure service tech said £700 guess that is a lot... live and learn - wonder if that is labour... I should do a course on car fixing. its the air suspension... gearbox or well anything.. they can make up whats wrong with it. 
I do have an ex head of tech working independently I could chat with him but I recall him saying DO NOT RUN ONE OUT OF WARRANTY He said so advanced machines, a lot can go wrong. facade said:

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.

HOW ON EARTH did you work that out in your head? explain this for my thick brain?

Bachelorplace

AdrianC said:

Bachelorplace said:

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. 

Exactly that.

You have £1,685. Put it in an envelope marked "CAR WARRANTY", somewhere safe.
If you need to pay a big bill, pay it from that envelope, with £100 from your wallet.

At the end of the year, I bet that envelope isn't empty.

Next year, put another £1,685 in the envelope, together with what's left from this year.
Repeat.




Ohhh I love that. it makes sense. 

Maybe I need to sleep on it. 

If I am honest I suffer from bad paranoia and anxiety and I am on meds.( 20 years )
90% of the time no issues But to give you an example when I am triggered I am on something all day like a dog with a bone.
Its normally estate agents, rude people or car salesmen. Or teenagers. 

I literally been on this 930 am till 1900 - along with cleaning glue off my car - Another post!!!! I have been almost immobilised by this today- in some respects I'd rather spend money and get something else even if it is a bit more expensive just to feel calmer. But then I know I might regret it buying at the WORST time. 

I literally am the best at consumer stuff - I recently won a 30k case for a new construction to be build 4 years after it was, I got a 50k refund for a car 6 months after I purchased it and I like the legal stuff. Just lately though, I have to pick my fights as I am tired a bit fearful and I need to be motivated. i.e. I normally pick the ones it does not matter that I loose or I know so well I will win legally. 

In my older cars I always let them expire as the dealers looked after me - this one is most expensive car I have had tons of digital stuff. 

Since my support bloke head of service - left and went to a lower brand - a new whipper snapper has arrived who wants to help - but can also be a company line cantankerous little toss pot petrified of loosing his job. The thought of asking someone who is 12 to do a "kindness" request with the manufacturer fills me with dread. Literally - like I am begging like a sad dog. At his mercy whilst the big cheeses make noises and a 'decision". 

What I also hate is how my illness can sometimes lead me in to making decisions, another thing that I hate is misleading sales or being ripped off. So this feels like one of those times where I would be spending money to assuage anxiety when in reality I have spend 400k with this company and I should be Mr Jump Up and Down. But I am loosing confidence and the whipper snappers are becoming more prevalent in these dealers. Just listening to them talk to you "oh yes well we MIIIGHT BE ABLE to get this through.... we have to send an eeemaaaaill and hopefully we miiiiight be abbbble to get it done" ( I am tired of all that now , worn right out ) fred246 said:

Better still put it in a savings account. It's still possible to get over 1% easy access. Put it in income bonds and you have a monthly payment from it. £1.61 every month.

Or the SNP 500 and get £4000 a month back - ( it won't last but I bought some more yesterday ) 

facade

Bachelorplace said:

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.

HOW ON EARTH did you work that out in your head?

Warranty Option 1: 
£1316 for one year with £250 excess per claim. Compared to #2 you save £369, but a claim costs you £150 more in excess. So 1 claim costs you £1566, 2 claims actually cost you £1316 + (2x £250) = £1816
Warranty Option 2:

£1685 for one year with £100 excess per claim.  ! claim costs you £1785, 2 claims cost you £1685 + (2x £100) = £1885

You need to make 3 successful claims for option #2 to work out cheaper. If you don't make any, you save £369 overall.  If you are expecting to make more than 2 claims, I'd punt it on and let someone else have the problems

Penelopa.Pitstop

I had similar dilemma, car from 2017, warranty ending soon, value of the car the same as yours. However manufacturer's tier 1 warranty is a bit cheaper: £1000 with no excess or £750 with £250 excess. No digital dash but similar set of gadget that may go wrong. I talked to some other owners and they did not suffer any breakdown and nothing broke between 3rd and 6th year of ownership. One said, he has a fault in air suspension at 6th year and 60K miles and suspects it might be related to the fact, that car was not used recently.

In my case, car belongs to finance company at the moment but I'm considering buying it and was trying to calculate all costs: depreciation, warranty, service, tyres, road tax, etc. Whichever way I looked at it, it was cheaper to either lease another new car or buy something a bit cheaper and newer. Depreciation was the worst factor.

Bachelorplace

facade said:

Bachelorplace said:

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.

HOW ON EARTH did you work that out in your head?

Warranty Option 1: 
£1316 for one year with £250 excess per claim. Compared to #2 you save £369, but a claim costs you £150 more in excess. So 1 claim costs you £1566, 2 claims actually cost you £1316 + (2x £250) = £1816
Warranty Option 2:

£1685 for one year with £100 excess per claim.  ! claim costs you £1785, 2 claims cost you £1685 + (2x £100) = £1885

You need to make 3 successful claims for option #2 to work out cheaper. If you don't make any, you save £369 overall.  If you are expecting to make more than 2 claims, I'd punt it on and let someone else have the problems

Why am I so thick. You are a smart dude to have around. 

Bachelorplace

Penelopa.Pitstop said:

I had similar dilemma, car from 2017, warranty ending soon, value of the car the same as yours. However manufacturer's tier 1 warranty is a bit cheaper: £1000 with no excess or £750 with £250 excess. No digital dash but similar set of gadget that may go wrong. I talked to some other owners and they did not suffer any breakdown and nothing broke between 3rd and 6th year of ownership. One said, he has a fault in air suspension at 6th year and 60K miles and suspects it might be related to the fact, that car was not used recently.

In my case, car belongs to finance company at the moment but I'm considering buying it and was trying to calculate all costs: depreciation, warranty, service, tyres, road tax, etc. Whichever way I looked at it, it was cheaper to either lease another new car or buy something a bit cheaper and newer. Depreciation was the worst factor.

Wow that is a cheap warranty!!!!!!!!! No brainer sorry. HOWEVER Read on. I don't want to hijack my own thread. 

If you can handle the anxiety - don't bother and rely on the statute of limitations free from defects argument 5 years you need be good at legal stuff and experienced in complaining. And suffer no anxiety. 

Again depending on brand, dealer etc is all massively relevant. If you are on mates terms with head of service or not. It really is that important. 

Moreover do you want to £750? or BEG for help if it goes wrong. As much as I love my new friends on here. My mate who works for Audi, Car Shop ( bear with me! ) and used to work selling warranties and now works for a German brand that sells small adventures said to me I would be a complete idiot for not. Like the boys here, he too has my back, but understands my anxiety too and wishes not to go cap in hand unless its absolutely necessary. 

One particular German Brand will tell you do do one EVERY DAY OF THE WEEK. Sorry, but I think you are with them! but let's move on. If you do that is a really good cheap warranty. If it breaks out of warranty unless you have bought 50 cars or are mates with the dealer with long love and history, its a fight these days to get things done and they are famous for worst after sales in UK. I would paste in some horror stories but that would be unfair. 

Lets assume you are tied with a brilliant team at a brilliant franchise though or like the car - get the warranty! NOW.

BUT If you continue to buy the car you will need to figure out the interest you have ALREADY paid on it and add it all up - if you like it re-finance on lowest rate  "Tesco loan" for instance, and you will be purchasing your own car back trade value not retail.  This mitigates SOME not all of the interest you have paid, which might actually not be too bad if you bought on an offer. Besides if you paid interest on a PCP you had the peace of mind, which as we are about to learn is pretty important when we don't know if our town is about to be shut down next week or not. 

Swapping out - it may look cheaper, but probably best to wait until market calms down - see what deals there are . In the USA VW are doing 0% WITH contributions...BMW already doing 1% on some products but the sales are too high at moment to consider anything or get the choice of spec or model you want. Plus don't go into a new deal on a car with an engine right now if you can help it. EV's might take over the world soon and we will all be forced into a Tesla, who's warranty is a joke btw. 

I think for me £1300 / £1600  its a-lot to shell out - but as a paranoid person who gets triggered then my mate in the industry plus an ex engineer of my brand who used to work on my actual car said "don't run one without" I may have to push the button and put it down to running costs. I am at least still getting free services so thats something. I am the man who hears a noise and immediately books it in  

Finally across all my cars both your brand and across all the marques I have had a lot of claims. I owned a BMW 530d once which had 24 visits to the retailer, a 535d that had around 9 the 530d actually had engine block issues. BMWs are not very reliable. Mercedes do tend to go wrong a lot less from experience, same for Jaguar. Maybe its time for you to get into a nice new Lexus UX or NX?