Vehicle protection plan when buying a used ZR?
 

Hi guys,

I did a couple searches regarding this topic, but couldn't really find anything. If I missed something let me now.

I am contemplating buying a 6-speed DB 2004 ZR (Leather seats with Bose) with just under 57k miles on it. It is clean, and the inside is surprising unscratched. The price is 14.5k. I am wondering if I should buy a vehicle protection plan (GWC Warranty) for either two or three years, at $1999 or $2399 respectively. The plans are comprehensive with a $100 deductible for any repair, but do not cover tires/general service

Apparently, the vehicle just had a new clutch put in by the used car dealer, and I drove it today and all the gears feel good (even reverse!). The top works well, as do the windows.

I am planning to keep the vehicle for 2-3 years before I move for business school.

What do you think? I know that the car might need some things fixed eventually, but will it cost me more than 2.4k over the course of 3 years?

Thanks

take the $2400 and buy a newer ZR with even fewer miles.

Companies that sell these plans make money. Obviously the price of the policy is less than the company pays out for repairs. Think about this.

I was dumb and bought one of these plans, 99% of the time they are useless and wont cover issues. Take the 2k and put it into a bank account in case there is an issue. Most repairs on the car are going to cost way less than that amount (if any). In addition, the Z is a pretty trouble free car. Good luck with the purchase.

I would be worried about the top. They are very expensive and can go without warning. The motors especially. There are a few of them in the top. Personally I'd say if the car is in good condition and well manetained I'd put the money in the bank and hang on to it and if you need it you have it and if not then you can use it towards your next car. I had a warrantee on my jeep but I'm a mechanic and new it needed a motor before I even bought the jeep and managed to get a trannsmition, engine, and water pump out of the deal and I got paid to do the work myself. Any other situation though I would not have done it.

I couldn't have typed this better... STAY AWAY FROM THESE "PLANS"... They're expensive and suck BALLS!

yup, and always seem to expire 17 days befor major engine malfunction.

Best advice was to pocket the cash or buy a car w 32k on it w the extra dough.
THAT will be money very well spent.
But 18-19k on a car thats gonna be pushing 10 years old very soon? hmm.. if you were buying the same car w 114k on it for 12.5 id say get the warranty.

But youre right in the middle now man.

Thanks for all of the advice guys, I won't get the insurance. Even the motors on the top shouldn't cost 2k.

This is true on average. Most people won't have big issues, but some will have very expensive ones.

Also, the price is $14,995 but I asked for $500 off because I'm paying cash. Is this reasonable, or should I try to negotiate a little lower?

Dont buy the warranty, ESPECIALLY if the clutch was just replaced. You are the one buying. Cars are not necessities. The ball is in your court. If you are paying in cash, you have even more leverage. Dont get pants happy and settle higher than necessary. And DONT be afraid to walk away 1, 2 or 3 times. Often times, the dealer will chase you out to the parking lot. And if he doesnt, nine times out of ten, there is another deal lurking around the corner. I would say if the asking price was $14,995 and i was just starting to wheel and deal with cash, I'd start at $13,500 and not go above $14,000.

Not only that, there is fine print to help them not pay for stuff they really should pay for.

So, OP, if you are thinking of adding this amount to the price of the deal, just add it to the price of the car as SSNOS suggested. You'll get more vehicle with less potential problems, with both the vehicle and the warranty co. (but just avoid the 05 anniversary edition and the 06 revup motor...in those you'll have potentially an oil consumption issue unless it's been dealt with already).

Offer $13,500.

True. So are you willing to take the risk or buy the plan?

Avoid those 'plans'. My father works as an insurance fraud investigator/financial specialist, and he made MANY interesting finds on one of the largest 3rd party warranty companies that were around a few years back.

Put it this way, if the majority of people REALLY used those warranties and got money out of the company, would they still be in business? :icon44: As said before, put that $2,000 into an account, and put money towards an emergency repair fund. I had the option of adding an extra $2,500 to my car budget when Z shopping, but I decided that if I were buying a car past 2-3 years old, I want a good buffer. Now I've got $3,800 stashed away just in case. It's enforced savings kind of. :thumbup:

As for the price of the car, ALWAYS start low. You throw a low number, they throw high. Hopefully you end up in the middle, but tilted more in your favor. :icon38: If the bottom line isn't something you're willing to pay, don't be afraid of walking out. Someone above said that if they don't chase after you, it normally means something better is lurking around the corner. Best of luck! :icon38:

Hey guys,

Thanks for all of the advice! I decided that I will not get the extended warranty based on your replies. Tomorrow I'm going to call up the dealership and make sure that the tires are in good shape, and that there is no asymmetrical wear. If there isn't any then I will make an offer for $13,500 cash and say that I can pick it up that day.

If they take it then I will have just joined this community as a new Z owner!!! :cool:

If not, I will keep looking for deals.

warranty
 

I was offered one a year and a half ago when I got my '03 Touring with 54K.
Got the car for $13,000 and the extended warranty would have been $2,300.
Looking back I wish I had purchased it because within a month the clutch went out and the tires needed replacing due to incorrect alignment. '03's are bad about both of those.
I currently need ANOTHER clutch even though I baby the car.
So, in my RARE case the warranty would have replaced at least the two clutches and paid for itself. Not sure if it would have replaced my chrome wheels which were so pitted inside and outside(Indiana car) that they would take turns going flat without warning. I doubt the warranty would have covered the wheels.
Normally I think the warranty's are a waste of money. If you were buying an '03 I'd say HELL YES but since you are getting an '04, take the other guys advice and just pocket a bit now and then for the odd repair.
Good luck and I hope you get it. You will enjoy it.

OK I bought it! I hope I got a decent enough deal. They wouldn't go any lower than $14.5k for the car, and to be fair in my area (SF bay area), this was by far the cheapest one. I paid $14.9k for the car and 4 new toyo tires because the other ones were ~40% tread left. It's clutch has less than 100mi on it. Its a 2004.5 (I looked up the VIN) touring with 56k miles. No extended warranty, but it comes with a 90 day warranty on the engine etc... DB with grey leather seats!

I will pick it up tomorrow at 5pm (PST) because they need time to put the tires on.

I bet you would have not have gotten .01 cent from them. I bought the Nissan warranty and the clutch went after about 3 months of buying the car. Not a penny, those warranties wont warrant anything. Also, your tires would have not been covered either.

Also, if someone is afraid of there convertible top motor breaking (it's not a common issue), you can pick up one in the marketplace for only a hundred dollars or so and they should be an bolt on to fix.

Congrats on the purchase, you got a great deal.

Here is a link to a news story that came out today. The founders of US Fidelis are now sitting in jail for a variety of charges. US Fidelis was one of the largerst warranty companies and failed because the owners seemed to believe the company was their private piggy bank. The former headquarters of US Fidelis is about 3 miles from my house. Their multi-million mansions were about the same distance from me.

http://www.kmov.com/news/local/Found...123939514.html

This is where a lot of your money goes when you buy an extended warranty.

Congrats
 

Congratulations on your purchase. Don't know about your area but in KY the prices are holding or going up a bit.
AGAIN, CONGRATULATIONS. You will love it.