Anybody bought a warranty
Discussion
Got a 05/05 DB9 Volante which I am absolutely delighted with, purchased about 4 months ago from an independent. It's done 18k miles.It came with a mickey mouse warranty which I haven't needed to call on.
Has anyone bought an after market warranty and had any experiences good or bad? I have seen varying quotes from £600 up to £3000 but it seems very difficult to do a true comparison and to tell whether they honour proper claims.
Any help would be appreciated.
Has anyone bought an after market warranty and had any experiences good or bad? I have seen varying quotes from £600 up to £3000 but it seems very difficult to do a true comparison and to tell whether they honour proper claims.
Any help would be appreciated.
Good question, something I will have to face next March.
Some Members - Quinny, Bogie etc - run without the warranty and put the money in a pot to pay for any issues instead.
Others swear by the warranty and renew religiously each year - Michael Gould for example - arguing that it not only affords them peace of mind for the specific items it covers but may also have an impact on resale value.
Would be nice to know if there are a panel of companies to get quotes from, what to look out for in the spec etc
Some Members - Quinny, Bogie etc - run without the warranty and put the money in a pot to pay for any issues instead.
Others swear by the warranty and renew religiously each year - Michael Gould for example - arguing that it not only affords them peace of mind for the specific items it covers but may also have an impact on resale value.
Would be nice to know if there are a panel of companies to get quotes from, what to look out for in the spec etc
I would suspect other warranty providers will just have the same if not worse exclusions than the AM one.
They are afterall insurance based and rated according to risk. A lot of owners have been given a royal runaround trying to get stuff replaced under warranty.
I made my choice to not extend the warranty after Rick at DMS gave the car a good once over.
It all comes down to your appetite for risk.
They are afterall insurance based and rated according to risk. A lot of owners have been given a royal runaround trying to get stuff replaced under warranty.
I made my choice to not extend the warranty after Rick at DMS gave the car a good once over.
It all comes down to your appetite for risk.
Jockman said:
...
Some Members - Quinny, Bogie etc - run without the warranty and put the money in a pot to pay for any issues instead....
Others run without and fritter the money on beer and kebabs Some Members - Quinny, Bogie etc - run without the warranty and put the money in a pot to pay for any issues instead....
OP - do a search. Done a lot before. All depends on your appetite for risk. But did you ever see an unprofitable warranty firm? If not, ask yourself why. They are nothing more than an insurance policy.
Jockman said:
I read somewhere that the AM Extended Warranty comes in 2 sizes depending on the age of your car ??
Is it possible to run without a warranty for, say, a couple of years then bang it in for the 140 point check and resurrect it at a later date ??
Why would you want to?Is it possible to run without a warranty for, say, a couple of years then bang it in for the 140 point check and resurrect it at a later date ??
If you've run for a couple of years without, without issue, why would you then go for an expensive sub-std warranty?
Jockman said:
I read somewhere that the AM Extended Warranty comes in 2 sizes depending on the age of your car ??
Is it possible to run without a warranty for, say, a couple of years then bang it in for the 140 point check and resurrect it at a later date ??
Yeah but no...Is it possible to run without a warranty for, say, a couple of years then bang it in for the 140 point check and resurrect it at a later date ??
They will insist on remedial work to bring the car up to specification and that will prove costly....
sMurph said:
Why would you want to?
If we are approaching the topic on the basis of risk, would it be appropriate to surmise that as the car and its parts get older - serviceable items excluded - the risk will increase exponentially in a sort of J-Curve manner ??Or is my thinking flawed
Vicky Pollard said:
Yeah but no...
Did you really say that John Any remedial work would, for sure, be exposed by the 140 point check - one would assume.
But the point I make John neither precludes nor excludes continuing work on the car whilst out of warranty.
For example, if the thermo packs in out of warranty I would pay the £200 or so to get it fixed and so this would not show up as remedial work required in the Check.
What I would essentially be doing would be to strip out the profit element to the warranty company by paying only for remedial work during the non-warranty years, but accepting that at some stage the risk would be too great for the more major items - clutch, gearbox for example.
You and sMurph have far more experience than I in this area, so I'm more than prepared to be shot down in flames
Jockman said:
Did you really say that John
Any remedial work would, for sure, be exposed by the 140 point check - one would assume.
But the point I make John neither precludes nor excludes continuing work on the car whilst out of warranty.
For example, if the thermo packs in out of warranty I would pay the £200 or so to get it fixed and so this would not show up as remedial work required in the Check.
What I would essentially be doing would be to strip out the profit element to the warranty company by paying only for remedial work during the non-warranty years, but accepting that at some stage the risk would be too great for the more major items - clutch, gearbox for example.
You and sMurph have far more experience than I in this area, so I'm more than prepared to be shot down in flames
It does not work like that.Any remedial work would, for sure, be exposed by the 140 point check - one would assume.
But the point I make John neither precludes nor excludes continuing work on the car whilst out of warranty.
For example, if the thermo packs in out of warranty I would pay the £200 or so to get it fixed and so this would not show up as remedial work required in the Check.
What I would essentially be doing would be to strip out the profit element to the warranty company by paying only for remedial work during the non-warranty years, but accepting that at some stage the risk would be too great for the more major items - clutch, gearbox for example.
You and sMurph have far more experience than I in this area, so I'm more than prepared to be shot down in flames
Clutch is not covered - it's wear and tear item.
To re-apply an unwarrantied car will be the dealer doing a 140 point check and requiring everything be at a very high standard. So - if a component needs to be replaced every 40,000 miles and you've done 35,000 they'll want that done.
It's a bit like home insurance - if you have £100,000 worth of contents and have cover for £50,000 and then make a claim for £50,000 worth of losses the insurer will at most pay out £25,000 since you have underinsured.
You cannot dance in and out of warranties and expect to be ok. They are not like that.
Like, whatever...
JohnG1 said:
To re-apply an unwarrantied car will be the dealer doing a 140 point check and requiring everything be at a very high standard. So - if a component needs to be replaced every 40,000 miles and you've done 35,000 they'll want that done.
I understand the % game used by the insurance companies.My intention, similar to TJ above, would be to NOT take an Extended Warranty when the original expires at the end of March next year. My car service is due mid-March at DMS and I suppose I could not take the wife in future but instead spend the 5 hours with Rick, learning about the car. As well as servicing, I'm sure Rick would give it a good 'health check' etc and replace any items such as those in your example.
Things must be done properly in my mind, but I am wary of being fleeced based on an ignorance of the car and its components.
The first MOT will be undertaken by my company fleet garage - very trustworthy and efficient - as I don't think Rick does these ??
You and sMurph would seem to be advising that if you leave the warranty arena, think carefully before re-entering or just stay out
"If we are approaching the topic on the basis of risk, would it be appropriate to surmise that as the car and its parts get older - serviceable items excluded - the risk will increase exponentially in a sort of J-Curve manner ??
Or is my thinking flawed"
I'm a bit new to this forum thing - usually read with interest but for some reason don't post too often - but at last a subject I feel I am possibly able to add to....It's all a bit theoretical so may not be of general interest, but just in case..
On your question Jockman, I don't think your thinking is flawed - I believe we're into the territory of Failure Distribution, etc. if I understand your question / comment - I'm sure some of us remember the "bathtub" curve of failure distribution - with early infant mortality, flat failure rate during useful life and raising age related failure (I presume this is the J-Curve bit you are talking about?).
NASA did a review many years ago of complex systems (mech / electrical systems with multiple components, etc.) and showed that the Bathtub actually only applied to about 20% of systems (from memory so that number might be wrong). The remaining 80% had all sorts of other failure distributions against increasing age, ranging from flat, to linear increase, exp increase etc. - all depending upon the nature of the system being considered. Since that study, many in the industry feel the 20% is too low and more like 45-50% for industrial systems that follow the bath-tub curve
So, well, so what? Well I guess the warranty policy is the insurance against future failure and therefore to truly understand if it represents good value for money we would need to fully understand the components being covered, their inherent future failure distribution profile, prevailing failure rates, replacement cost, etc etc - an analysis known as Quantitative Risk Profiling - which would be quite involved but interesting to do (I'm a bit sad and need to get out more). That said, the chances of us getting hold of the actual failure data is not likely in a month of sundays so all rather academic really....also, this analysis could reveal some interesting facts, but on the whole, the warranty providers will have completed a similar risk analysis, albeit probably from a non-technical, but financial perspective - with probably the same answer at the end of the day..
But as an earlier poster said - are there any warranty companies not making a profit? So I think we know the answer if they are value for money overall....but if it's your car that goes bang, well then I guess it's value for money
As for me with a V12V entering its 3 year shortly, I'll probably take the AM warranty after the factory warranty runs out - just for piece of mind + rightly or wrongly, help with re-sale (if I ever sell it!)
Or is my thinking flawed"
I'm a bit new to this forum thing - usually read with interest but for some reason don't post too often - but at last a subject I feel I am possibly able to add to....It's all a bit theoretical so may not be of general interest, but just in case..
On your question Jockman, I don't think your thinking is flawed - I believe we're into the territory of Failure Distribution, etc. if I understand your question / comment - I'm sure some of us remember the "bathtub" curve of failure distribution - with early infant mortality, flat failure rate during useful life and raising age related failure (I presume this is the J-Curve bit you are talking about?).
NASA did a review many years ago of complex systems (mech / electrical systems with multiple components, etc.) and showed that the Bathtub actually only applied to about 20% of systems (from memory so that number might be wrong). The remaining 80% had all sorts of other failure distributions against increasing age, ranging from flat, to linear increase, exp increase etc. - all depending upon the nature of the system being considered. Since that study, many in the industry feel the 20% is too low and more like 45-50% for industrial systems that follow the bath-tub curve
So, well, so what? Well I guess the warranty policy is the insurance against future failure and therefore to truly understand if it represents good value for money we would need to fully understand the components being covered, their inherent future failure distribution profile, prevailing failure rates, replacement cost, etc etc - an analysis known as Quantitative Risk Profiling - which would be quite involved but interesting to do (I'm a bit sad and need to get out more). That said, the chances of us getting hold of the actual failure data is not likely in a month of sundays so all rather academic really....also, this analysis could reveal some interesting facts, but on the whole, the warranty providers will have completed a similar risk analysis, albeit probably from a non-technical, but financial perspective - with probably the same answer at the end of the day..
But as an earlier poster said - are there any warranty companies not making a profit? So I think we know the answer if they are value for money overall....but if it's your car that goes bang, well then I guess it's value for money
As for me with a V12V entering its 3 year shortly, I'll probably take the AM warranty after the factory warranty runs out - just for piece of mind + rightly or wrongly, help with re-sale (if I ever sell it!)
DavidV12V said:
On your question Jockman, I don't think your thinking is flawed - I believe we're into the territory of Failure Distribution, etc. if I understand your question / comment - I'm sure some of us remember the "bathtub" curve of failure distribution - with early infant mortality, flat failure rate during useful life and raising age related failure (I presume this is the J-Curve bit you are talking about?).
... I guess the warranty policy is the insurance against future failure and therefore to truly understand if it represents good value for money we would need to fully understand the components being covered, their inherent future failure distribution profile, prevailing failure rates, replacement cost, etc etc - an analysis known as Quantitative Risk Profiling - which would be quite involved but interesting to do (I'm a bit sad and need to get out more). That said, the chances of us getting hold of the actual failure data is not likely in a month of sundays so all rather academic really....also, this analysis could reveal some interesting facts, but on the whole, the warranty providers will have completed a similar risk analysis, albeit probably from a non-technical, but financial perspective - with probably the same answer at the end of the day..
As for me with a V12V entering its 3 year shortly, I'll probably take the AM warranty after the factory warranty runs out - just for piece of mind + rightly or wrongly, help with re-sale (if I ever sell it!)
Precisely (with a couple of minor mods). The J-Curve wil presuppose a rising final coordinate (increasing risk v age) whilst the U-Curve (bathtub) will assume the starting / finishing coordinates are at a similar level.... I guess the warranty policy is the insurance against future failure and therefore to truly understand if it represents good value for money we would need to fully understand the components being covered, their inherent future failure distribution profile, prevailing failure rates, replacement cost, etc etc - an analysis known as Quantitative Risk Profiling - which would be quite involved but interesting to do (I'm a bit sad and need to get out more). That said, the chances of us getting hold of the actual failure data is not likely in a month of sundays so all rather academic really....also, this analysis could reveal some interesting facts, but on the whole, the warranty providers will have completed a similar risk analysis, albeit probably from a non-technical, but financial perspective - with probably the same answer at the end of the day..
As for me with a V12V entering its 3 year shortly, I'll probably take the AM warranty after the factory warranty runs out - just for piece of mind + rightly or wrongly, help with re-sale (if I ever sell it!)
David - why are you not out enjoying your fabulous car
I've been in the DB9 most of the morning. Good to hear from you and thanks for the input.Insurance Cos will have many different profile models for the data to be input. Not much chance of us mortals keeping pace with them really
Jockman said:
If we are approaching the topic on the basis of risk, would it be appropriate to surmise that as the car and its parts get older - serviceable items excluded - the risk will increase exponentially in a sort of J-Curve manner ??
Or is my thinking flawed
Flawed only in so much as if you want to get into a policy as the risk increases, what do you think the warranty company will do? Yep, charge you more for it (by way of pre-inspections and work prior to cover, and/or by increased premiums).Or is my thinking flawed
Someone above did highlight that it's a numbers game. If you happen to be the unlucky one whose engine or gearbox goes pop without cover, the cover would likely have seemed cheap (depending on what it actually covers you for!). But you don't have to squirrel warranty funds away for too long before you're pretty much self covered anyway
As for resale...I doubt it makes that much difference when you account for just how much extra you've spent keeping the warranty in tact.
sMurph7355 said:
As for resale...I doubt it makes that much difference when you account for just how much extra you've spent keeping the warranty in tact.
Not a bad point sMurph.Oh, by the way, enjoy your beer and kebabs. That 17.5 (s)tonnes physique needs some serious sustenance
.Edited by Jockman on Saturday 23 July 22:16
Jockman said:
....
Oh, by the way, enjoy your beer and kebabs. That 17.5 (s)tonnes physique needs some serious sustenance....
It's hard work at times, but I'm man enough for the task.Oh, by the way, enjoy your beer and kebabs. That 17.5 (s)tonnes physique needs some serious sustenance
....Moving house soon though, and I think the kebab options are limited. Which is a little distressing. I could duck under 17st if I'm not careful!
Gassing Station | Aston Martin | Top of Page | What's New | My Stuff