extended warranty on used Audi TT?

hjihjiJune 28, 2007

We are buying a used, 03 Audi TT (180 hp) with 67k miles on it, from a Honda dealer. The car is in good shape and the Carfax shows the previous owner was meticulous in his care of the car.

Because the car has so many miles on it, we are offered only one option of extended warranty. It's a 24000 mile warranty, that costs $2400.

We normally buy these, and they have always paid off. In this case, I'm hesitant because it costs so much, and it covers for such a short period of time.

The car comes with a 2000mi, 60 day warranty from the dealer.

The extended warranty is through Honda directly.

If anyone has an opinion on this, I'd appreciate hearing it. My concern is that if anything happened to a major component, like the transmission, it would more than pay for itself. If nothing happened within 24000 miles, we'd be out a couple thousand dollars.

Thanks in advance

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steve_o

My concern is that if anything happened to a major component, like the transmission, it would more than pay for itself. If nothing happened within 24000 miles, we'd be out a couple thousand dollars.

Have you read an actual copy of the warranty? Are you comfortable with what it covers? More importantly, can you think of major (expensive) components it does not cover or situations in which you may use the car (live on a gravel road, etc.) which may invalidate the warranty? How many miles do you put on the car? Will you run out of miles or time first? Is that 24000 miles in addition to the 2000-mile dealer warranty?

MHO is that $2400 is too much to pay for just two years of coverage, especially if there are significant exclusions. Look at it this way: if you get the coverage, you definitely are out $2400. If you don't get the coverage, you have kinda banked $2400 against any major repairs you may need. That's a good chunk of almost any repair I can think of that you'd care to make on that car. And if you don't need any repairs (as opposed to maintenance like shocks/struts/battery/clutch), you're ahead $2400.

BTW, the cost to you of those extended warranties is negotiable. If you really want it, act like you don't and see if they'll move on the price any. They have room to do so.

    Bookmark   June 30, 2007 at 10:26AM
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