Need advice on extended warranty

[Just4emira]

Hi,
My car is coming next week.
Should I buy the extended warranty for $7,000 for 8 years including the 3 years that come with the car. So actually 5 extra years for $7,000

The dealer said I cannot buy it after. I need to make the decision now.

 

[morphious]

Hi,
My car is coming next week.
Should I buy the extended warranty for $7,000 for 8 years including the 3 years that come with the car. So actually 5 extra years for $7,000

The dealer said I cannot buy it after. I need to make the decision now.

Galpin? I bought the extended extra 5 years total of 8 years up to 80,000 miles for $6,180. Thought it was worth it.

 

[Blackthought_]

Honestly the Emira has first year teething problems that have been showing up within the first 12 months of ownership that is covered by warranty. If youre one of the lucky ones with minimal problems it might make sense to get a warranty from somewhere else at that time, not well ahead of it.

If you experience issues, you can sell the car but 7k is a boatload of extra money that you will pay up front

 

[Just4emira]

Galpin? I bought the extended extra 5 years total of 8 years up to 80,000 miles for $6,180. Thought it was worth it.

Boardwalk

 

[Just4emira]

Honestly the Emira has first year teething problems that have been showing up within the first 12 months of ownership that is covered by warranty. If youre one of the lucky ones with minimal problems it might make sense to get a warranty from somewhere else at that time, not well ahead of it.

If you experience issues, you can sell the car but 7k is a boatload of extra money that you will pay up front

But the finance person, when I asked her that if I could buy it later. She said no. Is it true?
Or she just tried to get me into buying the extended warranty?

 

[tankski]

Could you get a friend of yours to call up the dealer with a story about getting a used Emira and and ask how much an extended warranty is when the manufacturer one is up?

 

[Just4emira]

Could you get a friend of yours to call up the dealer with a story about getting a used Emira and and ask how much an extended warranty is when the manufacturer one is up?

Great idea. I will do that on Friday.

 

[ADC]

I don't recall being offered an option to extend the warranty at purchase time... is this a US-only thing? Does anyone know if it works differently in the UK (like they offer as you're coming up to end of the initial 3 years)?

 

[Beachbum]

Not heard of the option in the UK, but my next trip to the dealers is next week and will definitely ask

 

[tankski]

Some dealers do offer it. I've specifically asked Bell & Colvill about it and they sent through some docs. The tables aren't laid out the best but I've attached what I got sent. Ts&Cs are the details for this but pricing doesn't seem too bad.

 

[Six Speed Stephen]

But the finance person, when I asked her that if I could buy it later. She said no. Is it true?
Or she just tried to get me into buying the extended warranty?

This is not true. You can always buy an extended warranty later. This dealer may not sell it post purchase but that could just be a dealer policy. In fact you can shop around and probably find better pricing on one if you want the extended warranty. But it might get more expensive the older the car is.

It is NOT a manufacturer extended warranty to be clear.

Also my dealer was offering the extended warranty for $4.5k and the car was used with 1,900 miles

 

[morphious]

Something to note, some dealers sell a 5 year warranty but in reality it is only 2 extra years as the first 3 years run concurrently with the manufacturer warranty, so if you buy one make sure it is 5 years after the manufacturer's 3.

 

[centerpunch]

I suspect the only real long-term reliability question with these cars is the electronics.

No worries with the Toyota drivetrain, and the non-complex suspension, steering, and brake technology.

But if the dash display or one of the dozens (or hundreds) of unique electronic components or modules stop working in five years, the question may not be do you have a warranty or not, it may be are the parts even available.

 

[Beardedbradley]

It was offered on the protection and enhancement email before purchase

 

[ADC]

View attachment 55455
It was offered on the protection and enhancement email before purchase

You say that like I actually got said emails...

but yeah, I found this after asking the question. great to see they worm their way out of pretty much everything in the T&C's (it's even more dire than it looks on that screen capture, if you pull the actual product documents... par for the course with extended warranty I suppose).

 

[Beardedbradley]

You say that like I actually got said emails...

but yeah, I found this after asking the question. great to see they worm their way out of pretty much everything in the T&C's (it's even more dire than it looks on that screen capture, if you pull the actual product documents... par for the course with extended warranty I suppose).

Yeah I got all the emails……but they never built the car!

 

[sonor8s]

Interesting. I have not been offered this yet. I would have to read the fine print to see what is excluded. My first reaction is it is a bit expensive. You are paying 7k today for 5 years of additional warranty in three years for a car with an MSRP ~100k. For comparison, I paid 7k last year for a Fidelity platinum 7-year extended warranty (my OEM warranty had expired) for my Audi R8 with an MSRP of ~200k. A new engine for the R8 is 50-60k and a new transmission is 30k. I doubt the Emira is this expensive.
If this is your forever car, I certainly would not fault you for opting for the piece of mind. I will likely wait until I have 10 months left of OEM warranty and if plan on keeping the Emira, I will then shop offerings from Fidelity, Autrella, etc.

 

[Just4emira]

Interesting. I have not been offered this yet. I would have to read the fine print to see what is excluded. My first reaction is it is a bit expensive. You are paying 7k today for 5 years of additional warranty in three years for a car with an MSRP ~100k. For comparison, I paid 7k last year for a Fidelity platinum 7-year extended warranty (my OEM warranty had expired) for my Audi R8 with an MSRP of ~200k. A new engine for the R8 is 50-60k and a new transmission is 30k. I doubt the Emira is this expensive.
If this is your forever car, I certainly would not fault you for opting for the piece of mind. I will likely wait until I have 10 months left of OEM warranty and if plan on keeping the Emira, I will then shop offerings from Fidelity, Autrella, etc.

Thanks for your advice. I will probably wait on buying the extended warranty.

 

[netsinah]

FYI for Canadians, here's what my dealer said about why there's no Emira extended warranty offered:

Nothing on the Lotus Extended Warranty in Canada as of yet, aside from: not currently offered. Long and short of it, Lotus isn't setup from a regulatory standpoint in Canada as an Insurance Provider, which extended warranties fall under the category of. That may change in the future, however nothing is currently available from an extended warranty perspective.

 

[Man.v.Cars]

Some dealers do offer it. I've specifically asked Bell & Colvill about it and they sent through some docs. The tables aren't laid out the best but I've attached what I got sent. Ts&Cs are the details for this but pricing doesn't seem too bad.

Surely that is an aftermarket warranty? £50 ph labour!! It will be closer to £200 ph at a Lotus dealership. Lotus warranty is only available on purchase of the car brand new, just like the extended servicing package and both are car specific not owner. Both are approximately £3300.