ANyone had experience of used car warrantys? ever taken out a warranty on a used car or know of anyone who has?
Considering it in light of a possible purchase.
specifically Warranty Direct who seem to cover absolutely everything including wear and tear
Worth it?
Problems?
ANy reports?
Cheers
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My only experience is a good friend who bought an Audi-approved 04 plate A6 3.0 diesel, he took the extended warranty package on top of the normal Audi-approved scheme.
After about 7 months the high-pressure diesel pump failed and lunched the injection system, also introducing metal fragments into the engine.
Complete new engine under the warranty without any questions or "investigations". Good job too as I daresay a 3 litre V6 plus injection ain't cheap!
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I remember being offered a 10 year old Metro that came with a warranty guaranteeing to replace any faults that failed because of faulty manufacture.
When I asked the dealer if there would be any on a 10 year old car that hadn't failed already he was dumb-struck
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As the owner of a French common rail diesel I regard an 4th year and onward warranty as essential. However, there is a perception that some companies in this trade are much keener to collect premiums than to pay claims!
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The AA offer up to £500 to fix any problem for which you have to be recovered for a mere £67 per annum - with a small excess (for cars up to 100,000 miles and 10 years old). Even I thought that looked cheap.
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£500 wouldn't 'fix' anything worthwhile on a modern car. The premium is about 15% of the sum insured which is extortionate - try applying the same percentage to full comp on a £20K car! It may be cheap but it isn't very good value!
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Just signed up for a 'Luxury' policy from Warranty Direct. Looks to be as comprehensive an aftermarket warranty as you can buy. I'm paying £25 / month on my (just turned 3) Mondeo TDCi. I understand that this level of cover will be offered at this premium for a further two years (3 in total).
I figure £300/ year buys a significant degree of peace of mind. Had I bought a newish car, in order to get a manufacturers warranty, then my depreciation would have been a lot more than £300 / year.
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