Is buying an extended warranty worth it?

[kipperbailey]

Hi all, I've currently got a VW Golf that's coming up to two years old which is on a finance agreement. I really like the car and would like to keep it (if I can refinance it). My only concern is, in 12 months it will run out of warranty. I have looked at the VW Extended warranty which can be purchased for 12 months. I just wondered if anyone had any experience of these extended warranties with the VAGroup? Or if anyone has any general advice on Golf's and whether they are a (relatively) good car for running for a few years out of warranty. I know nothing runs perfectly - but I'd just like some peace of mind!

 

I'd appreciate any help/guidance anyone can give. Thanks, KB 

[penguin17]

IME, it was *very* handy to have an extended warranty.  I was given the option to extend ours on purchasing a VW Passat CC through the Das Welt Auto scheme.   

 

Mechanically the car was sound but in the second year (the bit we had the extended warranty for) I noticed the gloss black trim between the glass part of the pano roof and the windscreen frame had developed a few hairline cracks.  I thought it was just the top coat but took it to the dealers for investigation.  It transpired that the trim had likely been secured too tightly during build and had subsequently failed prematurely.  I was told it was covered under warranty which I was pleased about but I was pleased even more to find out that the trim can't be replaced as a standalone item, the whole new pano roof assembly needed to be ordered and fit.  IIRC the whole bill was just under £4K.  I was hesitant to have the whole roof replaced as I was paranoid the seals etc would never be as good as from the factory but I didn't have any issues at all.  

 

We've just bought a used Fabia (collecting this week) and I've opted to extend the warranty on that, with all-component cover.  Should help mitigate any expensive, unexpected bills for the next couple of years. 

[kipperbailey]

Thanks! I've been a bit worried about large bills such as the one you mention, but your experience sounds to have been top notch. I don't blame you for worrying about the pano roof, but glad you didn't have any issues!

 

I hope it all goes well with the used Fabia, I've missed mine since I got rid of it - and regretted selling it too!

[SurreyJohn]

What you have to remember is that the warranty provider will have costs to run it, and want to make a profit

Therefore the premiums will exceed the payouts.

 

Your decision is really how much your personal cashflow can take a large unexpected repair bill (if one happens), or if you prefer to pay out a defined amount even if no faults occur.  

The higher the spec of the car, the more bits there are to potentially go wrong, so if the premium is same for £40k L&K spec car as £20k S spec car then one must be subsidising other

 

Its peace of mind vs potential risk.  

 

One of our Skoda is now 7 years old, but since factory warranty ended most expensive unplanned repair was £85 so if we had bought extended warranty would have wasted cash  (but it had new dual clutch unit at 2.5 years under warranty, which would have been about £2k) which demonstrates there is element of luck in faults.  

[kipperbailey]

Thanks SurreyJohn, it's that peace of mind I'm after if I'm honest. at 6 months old the in car entertainment system went down which was around £800, of course it was under warranty. It's hits like that I'm keen to avoid! Thanks for the input, it is much appreciated.

[penguin17]

9 minutes ago, SurreyJohn said:

Its peace of mind vs potential risk.  

 

Exactly and for me personally, I'm more 'comfortable' spending £200 which I've accounted/budgeted for VS an unexpected bill in the thousands.  

 

 

9 minutes ago, SurreyJohn said:

which demonstrates there is element of luck in faults.  

'luck' - depends which way you look at it 

[Guest]

I took out a 3 year extended warranty with Warranty Wise as I had a fair few niggles with the car in its first 3 years,  and couldn't afford to replace it. 

 

Towards the end of the extended warranty period I had a major repair which was approximately £400 more than the warranty. 

 

At 6 year mark (which is when I really thought I'd use it) I took out another 3 year warranty and never used it. 

 

You win some, you lose some!

 

If you feel the need for one and you can afford it, do it.  (I'd also say the same if you couldn't afford it, as you'll probably need it's reassurance more). 

 

[mrcrow]

when i got my 1.6 golf new in 2001 vw offered a 3 year plan at the end of the makers warranty which i took

when it ran out they offered a 2 year plan...which i took

i got a radiator and electric window switch for my money during the extended period

 

its insurance in some ways...no use wanting the car to break down...but i could

[penguin17]

On 12/08/2019 at 12:38, penguin17 said:

 

We've just bought a used Fabia (collecting this week) and I've opted to extend the warranty on that, with all-component cover.  Should help mitigate any expensive, unexpected bills for the next couple of years. 

 

 

Within 10 days of collecting the Fabia the window wiper stalk had an issue (wiper stuck on) apparently common on this vintage of Fabia, Polo and Ibiza.  Dealer quickly got authority to replace the stalk under warranty.  I didn't see an invoice but was told it would have been £250-300 to complete the work.   Fair enough this was covered by the initial 12 month used car warranty but still...saved me a few hundred quid!