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Cost Guard Warranty with Porsche

Anyone here hear of CostGuard. Anyone buy it or have an experience to share? My dealer is offering me a $2900 policy that extends the warranty to 7 years/100000 Miles. It is a comprehensive policy and covers even castostrophic failure. I pick up the vehicle in 7-10 days and this warranty is sold at time of initial sale. There are other products that are sold at other times.

Check out the link below for info.

I would love to hear comments.

I know that most extended warranties on purchases like electronics and the like are worthless but for a vehicle like this I figure its worth it. Comments? Disaggreemenrs.

Details: CostGuard offered by Lyndon Property Insurance Company (Protective Subsiduary) Lyndon is Rated A+ by AM Best (4th highest out of 15). My perspective is that on a vehicle I intend to keep it is money well spent. The dealer flat out told me that Porsches have high in shop costs (which is obvious) with an average of $1800. All I need is one engine issue out of warranty and I am stuck with a monster bill, forget it if the engine implodes like some report).

Reply to
David
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One decent repair would easily surpass your initial investment in an extended warranty. Problem is, most of the stories I've heard is that the warranty rarely covers most problems, and they will try to get out of paying for any problems. I'd really research this company well.

Mostly, have the car checked out by an independent shop that knows Porsches well before you buy. That's probably your best insurance.

Also, you don't give much detail as to what model you are buying. Some have pretty good records for reliability, and some not. And just normal maintenance can be expensive on most models.

Reply to
Sheldon
2005 Porsche Boxster, NEW, Tiptronic
Reply to
David

I have purchased extended warranties on several occasions.

Years ago, the warranty company covering my 944T went belly up, but the Porsche dealer who sold it...backed it up any way. ($3000 worth of repairs)

We recently had one on my wife's Lexus ES-300...and it paid off on the one occasion we needed it...without incident...covering the replacement of both valve cover gaskets and cam/timing belt/water pump gaskets/seals. (@ $1250)

We've renewed this one...but haven't yet had a chance to use it (thankfully).

I'd ask the Porsche dealer how long they've sold this specific warranty and will the dealer back it up if the company does not pay. Get anything they tell you in writing.

Also...the dealers generally make a large profit on these...so the price can be negotiated in many cases.

Hope this helps...

Reply to
Weekend Guru

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