Hey all,
Really quick question. Could someone please help me with this. Is Porsche platinum warranty worth it on a Certified preowned. The new car warranty expires in July 2024 and the dealer is saying I could get the additional platinum warranty for $7000.
Please help :) thank you
What car? All warranties are “insurance products”. The “house” wins most of the time.
Cayenne
Depends on your “fear of something going wrong” vs. the likelihood of that, actually happening. I bought a 2014 Cayenne CPO (from an individual). The warranty was good through 2020, and was never used.
I’d personally NOT pony up extra $s beyond the CPO warranty. YMMV.
Solid analysis Any insurance is a risk balancing or mitigating tool. Its a gamble on paying X now to avoid a possible paying Y later.
7k now is about 10K Canadian. That buys a lot of standard repairs that would be covered under a policy. If it includes tires, I assume it does not cover normal wear but only damage?
I did the extended warranty on my CPO 911 I bought 10 years ago as the regular warranty was running out. It bought peace of mind though it was a number of years ago so the price was much less. In the end I didn’t come out anywhere near even let alone ahead.
Not sure what the average cost of ownership is on OPs Cayenne but that is an important factor if this becomes a calculation vs a gut decision
Thank you for this answer :) It doesn’t have the tires coverage but basically it gives you all the benefits of the new car warranty with this coverage. If I needed a tire insurance, they do have it as a separate option if I wanted one. I didn’t take that :)
It’s also my first car and my first Porsche, so I’m super duper stoked to own a cayenne and as you said I did get the VSP to have the peace of mind :)