Extended/Aftermarket Warranty Poll - Mercedes Benz SLK Forum

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#1 Old 12-29-2009
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Extended/Aftermarket Warranty Poll

There is a question about warranty to buy or not to buy. Think it would be interesting what you paid and what repairs it has paid and cost of those repairs if known. How many times has the repair cost was greater than the cost of the warranty. Based on reading many threads on this forum it appears many of you have bought Extended or aftermarket warranty. Peace of mind or saved money. New car coverage does not count.
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#2 Old 12-29-2009
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I chose to purchase extended warranties on my 2005 SLK 55 and my wife's 2006 SLK 350. Both are MB three year, 75,000 miles extended warranties. Mine was around $3600 and for my wife's car, the cost was about $100 cheaper, at $3500. These are the only extended warranties I've ever purchased, on any products. I've had mine for one year, and my wife's for around six months. No problems and no claims as yet. Peace of mind so far, zero regrets.
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#3 Old 12-30-2009
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I bought a MB 60,000 miles extended warranty for MY2006 and I do not recall what I paid. (I can pull out the paperwork if you wish)

Was it worth it? The piece of mind and assurance that when anything happens, Mercedes will take care of it was well worth it. It includes roadside assistance and the dealership gives you another car while yours is in for any reason. Same as Don, I've never had a warranty claim yet.

I really don't think I'll need it...the car is rock solid (Maybe I shouldn't have just said that LOL)

Enjoy.
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#4 Old 12-31-2009
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Never bought one, never will, never had a repair that I'm aware of that would have been covered. $3500 is a lot for me to spend for peace of mind. I do nearly all of my own work on my cars and I am very, very far from what I would consider a mechanic. However, with the help of forums like this one, I learned and continue to learn how to fix things myself. That's my peace of mind. All of you can do it. Don't be intimidated - it's not that hard.

Len
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#5 Old 01-01-2010
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Extended warranty to buy or not to buy

Hi Everyone Scrooge here,
I know that I am not yet a SLK owner, just a want to be, but I want to weight in on the extended warranty question. My wife and I bought a 2004 Audi TT with roughly 24000 mikes on it. We really wanted and eventually intend to own a MB SLK AMG, but at the time decided on the TT as our commute car. Even though the car still had full warranty coverage on it for another year, we decided to purchase the extended warranty. I must tell you, it was a great purchase! I readily admit that this is not a MB, and perhaps the repairs would be expected beyond what an SLK would have, but it has saved us a ton of cash. In addition to replacing the fuel pump, water pump and other assorted items, we recently had to have a new DSG transmission put in. This is not a rebuilt transmission but a factory DSG. It cost me nothing. I know it is always a tough decision about spending the money or not on a car that should hold up well, but in our case has paid off in spades.
Later,
Scrooge
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#6 Old 01-03-2010
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Good for you Scrooge, but my guess is that you are in the vast minority. Warranties are insurance policies and in the long run the insurance companies always win. There is also a nice profit to the salesman and the dealership in selling one.

Len
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#7 Old 01-04-2010
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The results so far. When I purchased my 2001 SLK the previous owner had purchased an aftermarket warranty and it still had three months on it when I purchased the car. He said he only had one problem with the car and the warrant did not cover the problem. I have not had a problem. The previous owner paid $3,600 for the warranty.

Results of poll so far.

Four warranties and only one person has collected.
One person who would not buy a warranty. ( I also is one who would not buy a warranty) This I would say makes two who would not buy a warrant out of the 5 people who replied.
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#8 Old 01-04-2010
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Well if you are financially able to have funds built up to cover a $3000 bill at any time...I would not buy an extended warranty. Have that money in an account earning you interest.

On the other hand... I financed my extended warranty of $2400 into the loan of the car. (I know...bad idea... I ended up paying even more with the interest cost, etc.)

I have had a few items repaired over the last 3 years that totaled more than $3000. So I basically have broken even.

BUT...I did have peace of mind knowing if and when I broke down I could get my car fixed without putting my finances in the red. That was a big plus for a paycheck to paycheck kinda guy like me with 3 kids in college!

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#9 Old 01-04-2010
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We do not have an extended warranty as of yet. But plan to get one when the factory warranty runs out. I am not a mechanical guy, so I can use the peace of mind. However we have never owend one before on any other car or product we have purchased. We love our 350 and plan on keeping it for a long time, as compared with other purchases we replace as things start going bad.
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#10 Old 01-04-2010
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My extended warranty will be a big plus if I sell my SLK to a individual prior to the extended warranty expiration. I normally sell my cars out right versus trading into a dealer. That was part of my logic in purchasing the extended warranty. I'd rather have the extended warranty protection versus waiting for the unknown. Nothing here has swayed my decision.
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#11 Old 01-10-2010
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As luck would have it, my warranty expired Dec 22nd. Am I have leaky valve covers that will cost approx 800 bucks to fix.

I was advised by my dealer that Fidelity has a decent extended warranty:

2 year, 12,000 for 2,500.
3 year for 3,900

There's a 100 dollar deductible for each visit (irregardless of the number of claims per visit).

Here's the key point: at 45,000 miles, each category's price goes up a 1,000 bucks!!
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#12 Old 01-10-2010
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Quote:
Originally Posted by Cat View Post
As luck would have it, my warranty expired Dec 22nd. Am I have leaky valve covers that will cost approx 800 bucks to fix.

I was advised by my dealer that Fidelity has a decent extended warranty:

2 year, 12,000 for 2,500.
3 year for 3,900

There's a 100 dollar deductible for each visit (irregardless of the number of claims per visit).

Here's the key point: at 45,000 miles, each category's price goes up a 1,000 bucks!!
Personal opinion: I'd deal with the intermittent costs as they come up rather than be 100% out of the money in 2-3 years. My guess is I would still be ahead after 3 years esp. if one takes proper care of the vehicle. $800 is still cheaper than $2500, plus the work is warranted for one year (parts and labor).

It may also be worthwhile to research and get references of reputable independent MB shops in your area. They usually purchase OEM replacement parts from the local dealer at wholesale prices and the labor rate per hour is most likely reasonable. Moreover the total repair price may be subject to some bargaining/discount if you're a "regular" customer, i.e., bring the vehicle in for routine stuff like engine oil and filter change, brake pads, etc. then they're more inclined to give you a break on the price.

Eddy



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#13 Old 01-10-2010
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Quote:
Originally Posted by Cat View Post
As luck would have it, my warranty expired Dec 22nd. Am I have leaky valve covers that will cost approx 800 bucks to fix.

I was advised by my dealer that Fidelity has a decent extended warranty:

2 year, 12,000 for 2,500.
3 year for 3,900

There's a 100 dollar deductible for each visit (irregardless of the number of claims per visit).

Here's the key point: at 45,000 miles, each category's price goes up a 1,000 bucks!!

Lets see how this works out.

Two Years warranty 2500
less repair 800
plus deductible 100
Balance 1800

To break even yoy still need a repair that cost 1900. 1800 plus 100 deductible.
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#14 Old 01-10-2010
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Quote:
Originally Posted by etyu View Post
Personal opinion: I'd deal with the intermittent costs as they come up rather than be 100% out of the money in 2-3 years. My guess is I would still be ahead after 3 years esp. if one takes proper care of the vehicle. $800 is still cheaper than $2500, plus the work is warranted for one year (parts and labor).

It may also be worthwhile to research and get references of reputable independent MB shops in your area. They usually purchase OEM replacement parts from the local dealer at wholesale prices and the labor rate per hour is most likely reasonable. Moreover the total repair price may be subject to some bargaining/discount if you're a "regular" customer, i.e., bring the vehicle in for routine stuff like engine oil and filter change, brake pads, etc. then they're more inclined to give you a break on the price.
-----------------------------------

Ditto on etyu's point ... I've never purchased an extended warranty coverage on anything I've purchased in the past ... feel they're a big profit item for store/salesman ... been fortunate with past purchases of cars/electronics/etc. ... example, owned 98 SLK 230 for 11 years and did not buy extended warranty when MB warranty expired ... found great repair shop specializing in German cars (Alpharetta German Auto Repair) in Alpharetta, GA ... uses only MB parts, labor is about $35/hour less than MB dealer, and very good reputation (mechanics at two local MB dealers expressed favorable opinions of the shop) ... also, these guys back their work if you're not satisfied with results ... turns out I had to invest about $4500 in actual repairs (not including routine maintenance) in past 15 months so I made repairs and sold car to purchase current 05 350 at Thanksgiving 2009 ...

Purchased SLK as a certified, pre-owned so it came with a 1-year warranty from dealer ... dealer gave me list of available extended warranty options (can purchase up to the date the current warranty expires) ... see below info from handouts given by dealer:

Mercedes-Benz Program (manufacturer)
12 months/total 100K total vehicle miles $1,495 w/$0 deductible
24 months/total 100K total vehicle miles $1,925 w/$0 deductible

Covers: engine/drivetrain, audio/nav system, steering/sustpension/brakes, electrical system, climate-control system, central-locking system, convertible/retractable roof system, other (wipers links, power seat cables, seat belts assembly, window regulators plus more)

Automobile Protection Corp. (thru dealer)
Purchase in blocks of time/miles; $250 deductible
12 months/12K miles $1,659
24 months/24K miles $1,901
30 months/30K miles $1,991
36 months/36K miles $2,192

Handout does not give info on coverage but the salesman told me it covered the same as the MB system (above), with major difference that MB program only goes an additional 24 months max while this particular program goes up to 48 months/50K miles ($2,649).

Conclusion
Haven't decided yet if I'll purchase extended warranty or not ... depends on how well things go this first year of the dealer-provided warranty ...
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#15 Old 02-19-2010
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I've never been a believer in these, but just knew I'd have issues from what I'd read here, so negotiated the price down to $1400 for a 5yr or 100k warranty from ASC, which is available thru dealers. This was their best warranty, which covers everything but stereo, fluids and diagnostics-no dedbl. The car has 34k miles, but out of MB warranty due to time. I've had the infared door sensor, heater valve, rain sensor and now the driver's seat heater repaired under the warranty-they paid the dealer direct, total paid by them-$1500, I have paid $150 in diagnostics/fluids. So you can imagine, I think it was a good deal and just knew I was going to get really pissed off after spending $24k if I then had to spend hundreds more on repairs. If it was a Japanese car, I'd never even consider it, but the odds are way more in your favor that you will spend a few grand on repairs. I guess it depends upon how well you negotiate these warranties. They pretty much double the actual cost when they sell them, or so I'm told. I allegedly got this one at cost per the web page the used dealer showed me. This is not a MB dealer, just one of those high end german car dealers.
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#16 Old 02-19-2010
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I purchased a 5yr, 60k mile warranty (measured from date of warranty purchase) for $3800 from Carchex in May '09. If I recall, someone else on the forum has since tried to purchase one for a '55 and been denied saying they no longer cover performance cars. I ran into a similar policy with a couple other warranty companies. Anyhow, since purchasing the warranty I've had my valve cover seals replaced. I don't know how much the repair cost the warranty company, but it only cost me $100. The valve cover job is a common problem in the SLK. Maybe someone else can say how much the repair is.

So after 9 months of car ownership, I've not broken even. However, consider the fact that I can cancel the warranty at any time and receive a time prorated refund (minus any claims made) and the warranty is transferable. The warranty adds a certain amount of value to the car and becomes a selling point for the next owner. It might not be a dollar-for-dollar value, but it's something.

The odds are against me that I'll make my money back but I know that and I'm ok with it because like Don and others, it gives me a peace of mind. The money is already spent, so if problem arises, I get it fixed, rather than cheap-out and put off the repair which may lead to a costlier repair later on
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