Purchase warranty on used car or saving account?

gandalftheking

Hi all,

I am shortly purchasing my first private (used) car for some years.

A history of poor car choices in my youth left me with a nervousness about buying, so have been leasing for 10+ years.

The reason for going back to buying is that I'm entering into the EV world (please, am not looking for views/pros and cons of EV's - that ship has sailed), but as it is a private sale I am looking for recommendations around aftermarket warranties (including main dealer options). Are they worth it, as when it comes to any issues I don't want to be ahem, shafted. The alternative is to create a separate savings pot for potential car work. As it's an EV I would expect less to go wrong anyway, but you never know.

All views welcomed on the savviness of purchasing a warranty or otherwise. Thanks

Stubod

..probably not as they generally have a very long list of exclusions and will consider everything a "wear" item...ie not covered?

Ectophile

I wouldn't even bother with anything other than an official manufacturers warranty. The aftermarket ones tend to exclude pre existing faults (which sort of defeats the point of a warranty on a car you've just bought), and also all wear and tear parts ( so that's everything that breaks after you've bought it).

Either buy from a reputable dealer, or pay less for a private deal or a small dealer, and keep some money aside.

gandalftheking

Stubod said:

..probably not as they generally have a very long list of exclusions and will consider everything a "wear" item...ie not covered?

Some offer options to cover 'wear and tear'

HHarry

I agree with Ecto, if you can get an extened Manufacturers warranty that is likely to be worth something, third party warranties not so much.

 Some manufacturers (Porsche / Jaguar) will allow you to purchase an official warranty once it’s had their XXX point check and any remedial issues sorted, even if bought privately.

I’ve got the Jaguar warranty and had 2 no quibble warranty repairs for a door handle and starter motor.

jimjames

gandalftheking said:

Stubod said:

..probably not as they generally have a very long list of exclusions and will consider everything a "wear" item...ie not covered?

Some offer options to cover 'wear and tear'

But probably cost enough to make them money for that cover. Insurance companies aren't selling warranties as a charity, they make money because they expect to pay out less than you paid.

Bigwheels1111

Back in 2016 I purchased a 5008, as a pre reg and last of the old model I paid almost half price.
Factoring in 7 years main dealer extended warranty and 10 year main dealer servicing it comes to £18000.
I’ve made one claim and it was hard work, the main dealer lied / did not investigate the issue.
So claim was denied.
I proved they were wrong and warranty made them fix it.
If it’s that hard with a main dealer warranty, how hard will it be with a third party one.