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#1 Old 12-01-2011
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Extended Warranty

I have a 2008 SLK 350 with 29000 miles. Took it into the dealership yesterday and discussed costs/mileage/years for extended warranty. $3049 seems reasonable to me for a warranty that will expire in January 2015 and goes to 75,000 miles but I wanted opinions before I jump in. To increase it to 100,000 (same year) the cost would go up to $4100. I've been reading past threads on this topic this morning and I see now that I forgot to ask about the deductible and apparently I can ask for a copy of the warranty to look over before purchase, which I also did not do. She told me it covers everything but wear and tear items such as hoses and belts, and cosmetic issues. I do intend to keep this car through 2015 and beyond, and I do have another vehicle as my "daily driver" so 75,000 miles shouldn't be hard to stay within. It's my first extended warranty purchase ever and I don't want to look back and wish I had researched it more! To me, my big concerns should be the a/c and heating system (I live in South Texas, a/c is a HUGE concern actually) and electrical, as these are the only things I've ever had trouble with in other vehicles. Does anyone have any suggestions/opinions on this?
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#2 Old 12-01-2011
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I have the extended warranty from mb for about the same price. some members suggest just putting the same $ in a cd or money market and sit on it if you need to get something done. but for my peace of mind, i would rather spend the dough on an ew (extended warranty)


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#3 Old 12-01-2011
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That's what I was thinking...just wanted to make sure I went with the right warranty that would take care of the most. Seems like a lot of people go with aftermarket warranties from reading the previous posts. They seem a bit less expensive but I was wondering if there was a reason for that (like less is covered) or if it's just because they aren't MB. It's not like money markets or CDs are paying any interest right now on that small amount of money.
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#4 Old 12-01-2011
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true on the interest rates but at least the $ is not in mb or other company pocket. But i chose mb ew because at least they cannot say we do not cover it if it was 3rd party warranty


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#5 Old 12-01-2011
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I'd rather keep the $3000 in my pocket. Extended warranties are insurance policies and you know who the winner usually is when it comes to insurance companies!! I've never bought an extended warranty on a car, television or toaster and never did I ever regret it.

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#6 Old 12-01-2011
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I'm a Realtor and deal with home warranty companies quite a bit. As a result, I agree with you on extended warranties, Len, and as a rule have stayed away from them. My reason for that is that they seem to be able to find a loophole every single time NOT to cover something, and if they do cover it, it's because you spent a tremendous amount of time and effort arguing with them until they agreed. I'm not that person at all, I value my time way too much so I'd rather have the power to just get something fixed than to argue for days or weeks....but I'm told that it's different with cars. Everyone I've discussed this with has told me to get a warranty for the car, and I've read a ton of positive "it paid for itself" comments on here. So that's why I'm doing it, althought normally I am in agreement with you on extended warranties. But it's also why I posted, to get differing opinions and see all the sides before making a decision. I appreciate your opinion!
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Just make sure the convertible top mechanism is totally covered (especially the hydrolic movements). I would ask them to specifically point this out on the warranty documents. Meaning is the document saying we will cover ABC, except for XYZ OR is the document saying we will cover only the "FOLLOWING.............. (and if not mentioned on the document, then it is NOT covered)" ????

What about "all the seals"? Meaning any "leaking issues"?? Both for the roof and for the engine/transmission issues???

Also another thing you need to ask specifically covered or not is the "Command Unit"...........you know, the nice LCD screen with the navigation unit and all that electronics associated with it. When I was shopping for extended coverage...........some companies DID NOT cover it and I thought this IS mainly why I am buying the extended warranty for. So I decided to move on to another warranty company.

Also ask them if there is a "rider" on the policy to cover rim/tire damage due to road debris. I know some dealers will tell you if there was an accident..........your insurance will cover it. But who wants to involve insurance companies only to have rate go up later? Besides there is usually a deductible with the car insurance. With my third party extended warranty.........they paid for a new AMG 18 inch rim and a new tire (except for the chroming to match the other three rims which cost me around $150. So my total out of pocket was around $150 which is not bad considering the whole process was over $1K for the accident.) And there was NO DEDUCTIBLE for the rim/tire coverage. There are a few stipulations though. They only will replace what CAME with the car when the car was sold NEW (in my case, no problems.........they had to called up the original MB dealer to verify because SLK280's USUALLY DID NOT come with 18 inch AMG rims. Plus you must have at least 3/32 tread life remaining which was no problems either because the tire was relatively new.

I think for an MB or similar "European" cars..........chances are I will need the coverage. But on the other hand, if this were a Lexus or similar, then I don't think I will need the coverage. Just my opinion.

As the car gets older with age and mileage, it will be more difficult to obtain extended warranty coverage (if at all) from a reputable company. Sure any company will sell you anything

This is basically an insurance policy of sorts. Peace of mind. That's all.




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Originally Posted by Hitekllama View Post
That's what I was thinking...just wanted to make sure I went with the right warranty that would take care of the most. Seems like a lot of people go with aftermarket warranties from reading the previous posts. They seem a bit less expensive but I was wondering if there was a reason for that (like less is covered) or if it's just because they aren't MB. It's not like money markets or CDs are paying any interest right now on that small amount of money.
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#8 Old 12-01-2011
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Quote:
Originally Posted by Hitekllama View Post
I have a 2008 SLK 350 with 29000 miles. Took it into the dealership yesterday and discussed costs/mileage/years for extended warranty. $3049 seems reasonable to me for a warranty that will expire in January 2015 and goes to 75,000 miles but I wanted opinions before I jump in. To increase it to 100,000 (same year) the cost would go up to $4100. I've been reading past threads on this topic this morning and I see now that I forgot to ask about the deductible and apparently I can ask for a copy of the warranty to look over before purchase, which I also did not do. She told me it covers everything but wear and tear items such as hoses and belts, and cosmetic issues. I do intend to keep this car through 2015 and beyond, and I do have another vehicle as my "daily driver" so 75,000 miles shouldn't be hard to stay within. It's my first extended warranty purchase ever and I don't want to look back and wish I had researched it more! To me, my big concerns should be the a/c and heating system (I live in South Texas, a/c is a HUGE concern actually) and electrical, as these are the only things I've ever had trouble with in other vehicles. Does anyone have any suggestions/opinions on this?
One significant repair could cost you way more than 3K. I spent about 2500 dollars for a policy like you describe through my MB dealer since they would likely be doing the work. It is a Zurich policy and they are a very reputable large scope insurance company. You can negotiate on the price of most policies.

EWs on my Cadillacs always paid off....one at nearly 3:1. I guess insurance is always a gamble. I see cars as a little different than toasters! I can always buy a new toaster, but I would hate to take a 10K hit for a complete engine failure......just one example.


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#9 Old 12-01-2011
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Originally Posted by jbanks15 View Post
I have the extended warranty from mb for about the same price. some members suggest just putting the same $ in a cd or money market and sit on it if you need to get something done. but for my peace of mind, i would rather spend the dough on an ew (extended warranty)
Smart guy who's had three successive new SLKs and more SLK seat time than anyone I've know of. The MB Extended Limited Warranty excludes only wear & tear items which is a big plus.

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I'd rather keep the $3000 in my pocket. Extended warranties are insurance policies and you know who the winner usually is when it comes to insurance companies!! I've never bought an extended warranty on a car, television or toaster and never did I ever regret it.

Len
Other than two MB Extended Limited Warranties, I've never purchased a extended warranty on anything. With the potential expensive repair costs on expensive cars, I like the idea of limiting my liability to the cost of the extended warranty.

Quote:
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One significant repair could cost you way more than 3K. I spent about 2500 dollars for a policy like you describe through my MB dealer since they would likely be doing the work. It is a Zurich policy and they are a very reputable large scope insurance company. You can negotiate on the price of most policies.

EWs on my Cadillacs always paid off....one at nearly 3:1. I guess insurance is always a gamble. I see cars as a little different than toasters! I can always buy a new toaster, but I would hate to take a 10K hit for a complete engine failure......just one example.
Two options. Roll the dice and take your chances or pay the cost for a good extended warranty and limit your liability.
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#10 Old 12-01-2011
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also be aware when you get it from mb, and you decide to buy a new mb, they will refund or prorate how much of the warranty was used so you can roll it over into a new mb ew. I did that 3 times already.


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#11 Old 12-01-2011
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I just purchased the MB extended warranty to 75k for my 2008. The normal price was around $3,200. I've seen $200 off coupons from the dealer taking it to about the price you noted. I paid a bit less but it was due to a deal related to other purchases I was making at the time.

From what I can tell there is no deductible and the exclusions are what I would expect - nothing surprising.


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#12 Old 12-02-2011
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Wink

That's good to know! No one had mentioned that to me, but I'll be sure to bring it up when I go in to the dealership. (regarding unused portion of warranty being added to next car that I purchase...sorry, new to this site and haven't figured out how to reply with copy of what I'm replying to yet. )

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#13 Old 12-02-2011
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Quote:
Originally Posted by carver View Post
I just purchased the MB extended warranty to 75k for my 2008. The normal price was around $3,200. I've seen $200 off coupons from the dealer taking it to about the price you noted. I paid a bit less but it was due to a deal related to other purchases I was making at the time.

From what I can tell there is no deductible and the exclusions are what I would expect - nothing surprising.

Haha! Figured it out (how to quote in my reply)! Thank you so much, this is very helpful to know you just did what I'm considering!
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#14 Old 12-02-2011
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