Cost Guard Warranty with Porsche

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David - 29 Apr 2005 21:56 GMT

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).

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Sheldon - 30 Apr 2005 18:51 GMT

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.

> 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
[quoted text clipped - 20 lines]
> of warranty and I am stuck with a monster bill, forget it if the engine
> implodes like some report).

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David - 01 May 2005 02:59 GMT

2005 Porsche Boxster, NEW, Tiptronic

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Weekend Guru - 01 May 2005 17:03 GMT

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...

> 2005 Porsche Boxster, NEW, Tiptronic

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