Aftermarket Warranty for 125K car?

Hi everybody! Newbie here with a first post. About to pull the trigger on a 2003 996 C2 Cab with 125k miles. I'm a little nervous after all the reading of all the things that can go wrong, but my dealer is offering a Warrantech MileEdge warranty. 2 year, 25k miles for $2500. Has anybody had experience with this warranty? I did a search, and only one person has said to forget about the 100k+ mile warranties, any reason why?? Here's a list of what is covered for the engine... Do you think that will cover IMS and RMS issues? Thanks for your help, guys... Engine: Crankshaft and bearings; connecting rods and bearings; thrust bearings and shims; pistons and piston rings; wrist pins; timing gears; timing belt or chain; timing belt tensioner; crankshaft pulley; harmonic balancer; oil pump; oil pump pressure relief valve and spring; oil dipstick; camshaft and bearings; lifters; pushrods; rocker arms; rocker arm shafts; cam followers; lash adjusters; intake and exhaust valves; valve springs; replaceable valve guides; balance shaft and bearings; water pump. Engine block and cylinders heads are only covered if damage resulted from the failure of an above listed covered part

Well, I don't see IMS being specified under the list of things that are covered. It is the main 996 worry for anyone here. The warranty you are being offered seems like a waste of money. For $2,500.00 you can replace the IMS and RMS and forget about it if you are very concerned. I got my car last July at 117k miles, never bothered with warranty or IMS hysteria. I drove my car everywhere and shared some of the journeys on this board. 996 is the car that needs to be driven and enjoys the 100MPH cruising like no other car I have driven. Get the PPI done, if it checks out buy the car. If you are really worried about IMS, spend that $2,500.00 to replace the IMS/RMS as preventative items.

I have that warranty and it is worth ANY price you pay for it. Try to extend to 36 months. Do the level 3 plus the seals and gaskets provision. I have used 19K of my warranty so far, and have 4500 left in repairs. They will only cover repairs totaling up to the amount you spent on the car minus tax/license. They will also only payout up to NADA trade in value per repair. You ask, why is that relevant? They just paid 17.7K on my engine repair from an IMS failure. They also paid out $800 on my brake booster when it ingested water. Super easy to deal with, high recommended.

I would almost guarantee there is a clause in the warranty that states they will only cover up to the value of the car. Also how they value it won't be how you value it. Save the money, fix the ims and clutch which it will likely need and drive it.

Any warranty that does not specifically cover 'seals and gaskets' is worthless. At 125k miles most likely you will not spend that amount on covered repairs. And the warranty, without that seals and gaskets coverage, will probably not cover an IMS failure. A higher mileage Porsche is a risk. Always will be.

One other caveat on this warranty company. On any claim over 5K, they must engage their insurance carrier for approval. This will take between 3-7 days depending on the complexity. From the shop side, they paid pretty much immediately, they literally faxed them the invoice for services rendered and within 15 minutes the shop received a fax back with a credit card authorization in the amount that was approved. Pretty painless. Good luck

Also what for fine print that they can use after market sub par non Oem parts.

Thanks everybody for your input and advice! Your comments were extremely helpful, more helpful than I could have hoped, in fact. I am intending to use my new 996 as a daily driver. It is currently listed at $20k from a used luxury car dealer with annual service records from a reputable shop, but I intend on negotiating down the price a little bit, given that the KBB Value of $17,500. Also, I'm intending to get a PPI. Does anybody have any advice on how to negotiate price (prior to PPI or after the PPI?) Based on RJHerrmann's experiences (thanks so much for chiming in!), I will likely purchase this warranty and rest easier at night knowing that I have purchased it... The price I was quoted for the warranty does include level III and the optional seals and gaskets coverage as below: Seals and Gaskets Coverage: If the Seals and Gaskets option has been purchased, the following are covered: Seals and Gaskets of covered components designed to prevent the loss of necessary coolants, lubricants and fluids. This option is only available for Vehicles with less than 150,000 Odometer Miles (at Contract Purchase Date)

So that they know you are serious (they get TONS of people that just want to test drive a Porsche), negotiate a price before you buy. During the negotiations, tell them that you will commit to buying if it passes the PPI. That will put you in the strongest negotiating position, IMHO.

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Personally I wouldn't even take on his offer. I would look for a car with less mileage. They are out there. If you are set on this particular car, then take the warranty with it. Where did you read the items covered???? OIL DIPSTICK??? are you kidding me? Walk away. You can bet your **** that the convertible top is not covered and THAT is where the first problem will arise. Also electrical is not covered, and THAT is another hot spot for failure. Micro switches go and there are a bunch of them around the car. 7 in each door. They are not covered. Ask me how I know. I have a 99 cab with 70000 on it. I had a 30000/3years extended warranty which I used on a gearbox. I put 25000 miles on the car before the warranty expired and only used the warranty one time. Does it have the hard top coming with the car???? Don't loose any sleep about the Engine, loose it over the rest of the car.

What company sells a warranty for our cars? I have called several, and non will do Porsche's...

That's a lot of mileage on a 03, there are many out there with less. I have 152K on my 99 and it's age/mileage is really starting to show. The paint looks great, but the interior shows wear. I've replaced just this year: water pump (last was @ 102K), front control arms, motor mounts, coolant bottle, gas tank pressure sensor.