Another extended warranty question - Mercedes Benz SLK Forum

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#1 Old 09-03-2008
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Another extended warranty question

Hi all,

Like other posts I've seen, I'm wondering about the "worth it" factor for an extended warranty. I purchased a 2008 SLK 350 a couple months ago. I just got a copy of the extended warranty pricing at my request:

---------------------------------
7yrs/100000 miles: $3504
7yrs/70000 miles: $2307
6yrs/100000 miles: $3196
6yrs/72000 miles: $2301
5yrs/100000 miles: $2677

This is for a "Platinum" package with a $100 deductible from JM&A Group.
---------------------------------

I had assumed the extended warranty was from MB, but it looks like something else. Is this the norm, or does MB offer a warranty that is the same as what comes with the car but extended miles and years?

They sent me a PDF showing what the coverage includes, but I'm clueless enough with car parts that it doesn't mean much to me and I don't know what is excluded. The PDF has 4 levels of coverage and the platinum package is the one that covers the most.

Any opinions on whether or not this warranty is worthwhile?

Normally I'm not one to buy an extended warranty on anything, but with the replacement part cost of some MB items I thought I should look into it.

Historically I've kept my cars until the repair costs start to get too high. I don't know if that will be the case with the SLK or if I'll be tempted by a new model before this one is that old.

Thanks.
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#2 Old 09-03-2008
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I think the extended warranties are always worth it. You can finance the money for the warranty, and then you have peace of mind for the entire finance period. Trust me, you drive a used SLK home and then find out it has problems with the hardtop, the tranny, or pretty much anything else, and you are going to be out just as much, if not more, money than you would have been had you bought the warranty.

Will the cost of a warranty always be justified by potential problems? Of course not. Those warranty companies are a business, and they have to make some money to exist. But, if something DOES happen, you will be extremely happy you have that warranty, as well as the additional value it adds to the car when you sell it.

I paid $2500 for my warranty, which was for 4 years or 100k miles. It is a bumper-to-bumper warranty with a $50 deductible. The important thing is that the $50 deductible is only paid once per incident - rather than once per item. Many cheaper warranties charge the deductible for every item in the repair bill, and hide that in the fine print.
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#3 Old 09-03-2008
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Personally, I wouldn't be worried now about an extended warranty on a 2008 vehicle. Get the information, but wait until your factory warranty nears an end. Many won't keep a car for four years. My 2005 SLK 55 factory warranty expires this December. I plan to pursue an extended warranty. I've never purchased an enteded warranty, but with the low mileage on my SLK and my desire to keep it for several years, the entended warranty makes $ense.
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#4 Old 09-03-2008
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Thanks for the feedback. I did send an e-mail back to my contact at MB asking about the details around the deductible - if it is per part, per service visit, etc.

One of the reasons I was looking into this now is I read somewhere that the price for the extended warranty goes up after the car is one year old or after a certain number of miles, and then I think it goes up more later. I'm not sure the price difference is justification though, compared to purchasing it later when it looks like my warranty is about to run out (assuming that day comes).
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#5 Old 09-03-2008
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I think the price difference is less than 10% if you just wait until near the end of the factory warranty. Though they can increase the price at any time.
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#6 Old 09-04-2008
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I purchased the same 7yr/100K $100 deductible warranty on my SLK55. I plan on selling before it kicks in and will therefore ask for a full refund... unless the new buyer pays for it. It cost me exactly $3492. If I kept my 55, I definitely would keep the warranty.

Carver, Can you please email me the PDF on the warranty. I only have the purchase agreement. That PDF might come in handy with the new owner of my car.
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#7 Old 12-13-2008
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this is a helpful conversation as i am about to buy a 2006 SLK where the factory warranty will shortly expire May 2009 or a beautiful 2005 that is already out of warranty . I went to Mercedes and the price they quoted me for 2 years was pretty heavy compared to BMW and especially compared to 3rd party warranties for Mercedes. Any explanation on how the warranty works with Mercedes and the best warranty to buy if one has a car that the factory warranty is about expire which would be very welcome.
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#8 Old 12-16-2008
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Quote:
Originally Posted by carver View Post
---------------------------------
7yrs/100000 miles: $3504
7yrs/70000 miles: $2307
6yrs/100000 miles: $3196
6yrs/72000 miles: $2301
5yrs/100000 miles: $2677
Just for the records, Never ever pay the amount they list.
You can usually go down on each rate at least 300-500 bucks lower a year.

The first quotes are the highest quotes and it includes the premium,the "seller" gives you,which is the profit they make by selling you this...you can lower that big time,especially if its a warranty outside from a dealer!
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