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hedging one's bets Posted by billherbst [Email]  (#2137) [Profile/Gallery]
(more from billherbst) on Tue, 19 Jul 2005 01:08:03
In Reply to: 1999 Wagon 9.5 Purchase-after market warranty worth it?, Steve, Mon, 18 Jul 2005 20:46:28 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Those of us who are used Saab buyers, especially in the 4-7 years-old range (the Saabs, not the buyers...) are faced with this question every time we purchase our next out-of-warranty used Saab.
Certified, Pre-Owned (CPO) used Saabs--which extend the original four-year warranty by two extra years) are great--but those 2-3 year-old Saabs are always too expensive for this particular group of buyers (which includes me).
Some people swear by aftermarket or extended warranties; others pass them by for various reasons. Finally, it's a crap shoot--luck, fate, or karma. Buy an extended warranty but have no major repairs, and you're out a sizable chunk of change. Don't buy one, and even a small string of expensive repairs can put you way over the cost of the aftermarket warranty.
Conservatively hedging of one's bets or going for broke are both valid approaches.
Personally, I've never bought an extended or aftermarket warranty, and my track record is now one for two: The '87 Saab 9000T I purchased in 1991 with 100K miles was terrific. What a great car! I owned it for seven years, had some predictable repairs, but still came out far ahead. On the other hand, the '91 9000T I bought in 1998, also at 100K miles, nearly bankrupted me the first two years. Seemingly everything failed in rapid succession--transmission, radiator, starter, DIC cassette, heater core, AC compressor, CV boots and axles, plus two sets of tires and full brake jobs in only 35,000 miles of ownership. You name it, I fixed it, and all out of pocket. Needless to say, none of these failures were obvious to either myself or the Saab mechanic who checked out the car for me before I bought it. They just happened, one by one.
I recently bought a used 1999 9-5 SE 6-cylinder Silver SportWagon, purchased in May of this year with 71,000 miles. All service records, meticulous care, oil changed religiously every 5,000 miles. One previous owner who summered in Minnesota and wintered in Florida, the car has mostly highway miles and has never seen harsh weather. Totally checked out by a great Saab indie dealer (one of the sponsors of TSN, Princeton Motors in Minnesota). New brakes, solid exhaust, great tires, absolutely cherry. Looks brand new, and everything works! Got a fair price and a decent trade-in for my old 9000.
Given all that, I decided once again to roll the dice. $2,400 for two years' warranty seemed a gamble NOT worth taking (especially because I didn't HAVE an extra two grand lying around). Subsequently, I've driven my new/used wagon 2,000 miles cross-country, and so far, it's PERFECT! (I am doing an Auto-Rx treatment to gently clean the engine, just to be on the safe side, but that's $20 well spent, as far as I'm concerned.)
I'll check back with you in about five years to let you know if my decision not to pony up for an aftermarket warranty made me look like a genius or a fool.
Good luck with whatever you decide!
--Bill
posted by 71.37.2...
, Tue, 19 Jul 2005 01:08:03 <-- Viewing This Message
, Tue, 19 Jul 2005 09:16:01
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