A little "Oh Wow!" about cost of ownership.. - 986 Forum - The Community for Porsche Boxster & Cayman Owners

My warranty meter rolled over to NONE at midnight March 15th. ...but I got an extended warranty from IWS. ( www.iwsgroup.com/index.asp ) I stop the spiels short when they pitch service contracts for toasters, wash machines, etc. and I've never had one on a car before. I would not have one now - except - this one has a $110. add on that gives you all your money back if you don't use it, less the $110. On this 2001 Box-S with 16,000mi, my total was $1910. Five years, $100 deductabe, 80,000mi max...with all the car rental, tow trucks, etc. It's also transferable, if I sell the car. Works out to about $1 a day and seems to cover everything important, but the most important thing to me was: $$ back "if I don't use it".. (cost varies w/mileage, yr, etc..) One hook; this is sold only thru Credit Unions. I had to have my company join the MD State Employees CU (SECU) at no cost to the company (took 20min via e-mail) and deposit at least $10. in a personal account. Here's the 'Oh Wow'... So Sheeet, I'm only getting 3/4% in a savings account - why not throw another $2k to cover the 01 Mercedes ML320!? ...NOOOO. They will only extend it for 4yrs/80,000 and the cost is closer to $4k. Wazzup Yo?! Thinking they must be grading on a curve, I then asked if I had an 01 Acura MDX with a similar 35,000mi - how much? How'z 5yrs/80,000 for $1583 strike you?! Fricking-A. I've had a couple Mercs. My daughter now has our '88 Wagon with 220,000mi running it 80mph in a one hour commute in Miami ..and this ML hasn't been REAL bad, but damn...it makes you afraid of owning it too long! I'll tell you - I won't buy another anything unless I check with the people who wear green eyeshades. ...and I feel, aside from the RMS shadow, that we-all probably have a very good piece of machinery. Cheers. Jim

Jim, you've lost me. Who ARE the guys with the green eye shades?

Sorry, an arcane term. 'Actuary' is the specific. ..guys who decide, based on a ton of variables, what the probable risks are in insuring my future ownership and their exposure of this 2001 Boxster. They clearly think the long term risk on the Acura is 1/3 that of the Mercedes. ....the zero deductible, 100k, 4yr plan for the ML320 was $4,800. Jim

I can tell you that the accountants are dead on. I actually no longer buy used Mercedes as they are arguably the world's worst made car. The repair costs are absolutely painful. Even when you are on warranty, they simply have your car all the time. This has made the press lately, with Mercedes quality the worst in all of Europe. Personally, I think the Chairman of Mercedes should have been fired years back. Now, speaking of Audi...........................

And when they bought Dodge, they thought that they were going to have to save the company. Looks like it is the other way around now.

I tried the IWS website. When it came to cars, it did not list Porsche. What am I doing wrong? As to the Mercedes, I have a '00 ML430 with a Starmark extended warranty. The car has 83K miles and had its share of repairs. Without Starmark, it would have been bankrupcy! Yet Starmark covers only the big ticket items. Get this, at 83K, one of the catalytic converters goes. Federal law requires an 80K warranty. Soooo, Mercedes wouldn't cover it. The part is $1200 and about $300 in labor. I argued with the Dealership, the best I could do is have them supply the part with me paying the labor. I took the car to a local muffler shop. It was the 2nd ML they had seen in a week with the same problem. It seems one the seams on the cat goes open. He welded it back for me for $60. I live in Las Vegas. Does anyone knows a good garage that is a cheaper alternative to the local MB dealership?

Ara: You're right Porsche isn't on the list - I put Boxster under Acura anyway. They'll quote it. ...my nose tells me the price rises quickly with higher mileage but I didn't ask directly. In reading the fine print - if bought after existing warranty is expired; they require oil changes ev. 3k. Whereas, regular factory maint. is required if bought 24hrs. before factory warranty expired. They're clearly not tuned into 10qt oil pans and SynOil. I got it only for catastrophic failure. I don't expect to need it, and I'm looking forward to getting my $1900 back Jim

You got that right! Sad when Chrysler quality exceeds Mercedes huh?