RangeRovers.net Forum banner

1 - 14 of 14 Posts

·
Registered
Joined
·
199 Posts
Discussion Starter #1
Guys my warranty is about to expire and I'd like your opinions on a few things.

I bought my 2006 RRS SC with 23,500 miles for $48500 in 2008 . I am approaching 50K miles. I love the RRS and want to keep driving one , should I go for the extended warranty or trade in for a newer one? It looks like I could trade it in for an 08 or 09 SC and keep my payments around the same if I throw $5,000 into the deal. Or should I keep my 2006 and buy an extended warranty for about $3,500 to $4,500. Just looking for some logic here.

I'm thinking that if I trade in for an 08/09 and throw in the 5,000 that I would have spent on the warranty I can get a newer vehicle that will still be under warranty and it will have more value later on .

If I just buy the extended warranty I won't be taking on any more months on my loan.

I'm not really sure what is the best way to go , I know a lot of you are pretty good with this kind of thing so any advice will be appreciated.

Thanks - EO
 

·
Premium Member
2006-2009 Range Rover Sport
Joined
·
5,175 Posts
Has the car been relatively trouble free?
Do you still owe money on it--how much?
 

·
Registered
Joined
·
199 Posts
Discussion Starter #3
gooseyloosey said:
Has the car been relatively trouble free?
Do you still owe money on it--how much?
Relatively , yeah. Just a few problems with the power steering.

I owe about 20K on it.
 

·
Premium Member
2006-2009 Range Rover Sport
Joined
·
5,175 Posts
Just my opinion, more financially motivated than emotional.

The devil you know vs the devil you don't.

Take the extended warranty money you would have spent and put that away, effectively warrantying the car yourself. Or unless you have a low, low interest loan--use the extra money to pay the loan down.

... its cathartic once you break the never ending cycle of car payments
 

·
Registered
Joined
·
199 Posts
Discussion Starter #5
gooseyloosey said:
Just my opinion, more financially motivated than emotional.

The devil you know vs the devil you don't.

Take the extended warranty money you would have spent and put that away, effectively warrantying the car yourself. Or unless you have a low, low interest loan--use the extra money to pay the loan down.

... its cathartic once you break the never ending cycle of car payments
I've been thinking about doing that. I did that with a mercedes before and didn't have any trouble. Although my RRS hasn't had too many problems I am worried that it will just explode after 50K ! :doh:
 

·
Registered
Joined
·
120 Posts
financially speaking think of it this way

$5000 investment, assuming your pmts stay the same

what is your better return in 2 years?

will your 06 deal be worth more than your 09 deal if you had to sell them both in 2 years? i'm assuming you will be taking on much more debt getting into a 09 than your current 20k debt on 06 right?

if you had to liquidate both at the end of 2 years which one nets you the most (or loses you the least :p)
 

·
Premium Member
2006-2009 Range Rover Sport
Joined
·
1,169 Posts
i say pass on the extended warranty. ask around to those of us past 50k. i'm at 81k. umberto's around 130k. PJPR01 at 97k, plus more. i don't think any of us had anything coming close to $5000. granted we're mostly HSEs, but still. i bought my extended warranty when i purchased the RRS and have only used it once. as i mentioned in a different thread, i have a few seals that are starting to seep that i'll definitely have fixed before my extended expires this march, but otherwise, that $5000 is really just fix-it insurance that you might not get much value out of beyond peace of mind.
 

·
Premium Member
2006-2009 Range Rover Sport
Joined
·
5,175 Posts
All of the above...and if my memory is correct the routine maintenance coverage on the '09 is not as generous as the '08, so you may be better off getting a comparable mileage '08 if you really gotta have a newer one.

Unless you really have to have clear taillights :D

To take what the colonel said and add the time value of money. Assuming your payments are the same, if you pay 5K upfront you need to recapture about 5.4K in increased value on the newer one on the back end after 3 years. I used 3% to get that. Since the depreciation curve is steeper in the early years (but also assuming used car market is more stable, ie we just went through a period where used car demand was abnormally strong and drove prices up) this hard to do.

Per what phil said. I also intend to keep mine for 120K+, and I'm going to self warranty. Most of the parts the 3rd party warranties cover don't break down much in my opinion and the warranty companies know this. Its the stuff like ball joints, brakes, tires, etc. that need to be replaced and they don't cover that stuff.

Just be prudent and keep up with the recommended maintenance schedule--lubes, brake fluid, coolant changes, etc. and its cheaper if you find a good independent LR repair shop to do them.
 

·
SUPER MODERATOR
2006-2009 Range Rover Sport
Joined
·
4,469 Posts
Slight correction there Goose just in case you're thinking about getting one or can get one at a decent price.

Surprisingly enough, the extended warranty does cover all ball joints, all bushings, a-arms, tie rods etc, not sure why either, since I would have expected them to be wear and tear items just like brakes...but apparently the expectation is that these should not wear out.

The one big item that I had to replace for which I was glad to have the extended warranty was the Nav DVD player...that mutha is expensive...and this one item along consumed 75% of the cost of my extended warranty...which, granted, thru contacts at LR, I was able to get at cost + 100.00

Where I think the extended warranty helped me out was saving on the labor costs, not so much the parts, but had the cost of the ext. warranty been true market pricing, then, absolutely it's better to self-insure.

Cheerio!
 

·
Registered
Joined
·
199 Posts
Discussion Starter #10
PJPR01 said:
Slight correction there Goose just in case you're thinking about getting one or can get one at a decent price.

Surprisingly enough, the extended warranty does cover all ball joints, all bushings, a-arms, tie rods etc, not sure why either, since I would have expected them to be wear and tear items just like brakes...but apparently the expectation is that these should not wear out.

The one big item that I had to replace for which I was glad to have the extended warranty was the Nav DVD player...that mutha is expensive...and this one item along consumed 75% of the cost of my extended warranty...which, granted, thru contacts at LR, I was able to get at cost + 100.00

Where I think the extended warranty helped me out was saving on the labor costs, not so much the parts, but had the cost of the ext. warranty been true market pricing, then, absolutely it's better to self-insure.

Cheerio!
And I'm back on the fence.....

I'm going to take it in tomorrow because the power steering has been acting up. I'll check and see how much they want for the warranty and who they use and then call the company myself after and see how expensive it's going to be. I'm still thinking I want to just self-warranty the car like goosey and others reccomended but I went from 95% sure to about 70% sure after your story!
 

·
SUPER MODERATOR
2006-2009 Range Rover Sport
Joined
·
4,469 Posts
Well...remember that I put a lot of miles on my RRS compared to yours, so chances are you're not going to see these issues pop up during the "lifetime" of your ownership. Unless you can get an extended warranty for less than $3000 that takes you an additional 3 years or 100K miles, I wouldn't get it and just self-insure, but if you plan on loading up the miles, doing plenty of offroading, then at that price, it makes sense.

In your case...I think you'd be fine without it.
 

·
Premium Member
2006-2009 Range Rover Sport
Joined
·
5,175 Posts
You bring up a good labor point Paul. My dealer labor rate is double the independent shop rate that I take my car to for non-warranty work. That could add up if you are located in an area where the dealer is the only service option in an out of warranty situation.

Also, some parts can be sourced from low mileage wrecks in a junkyard--that DVD player for instance (although I'm sure it has to be activated by some top secret code only the dealer has, right?) I used junkyards a few times in my BMW days, and found some pretty good deals. They've also gotten a good deal more sophisticated these days with finding stuff. When I cross the Rubicon on my '08's warranty, I will try and find out who has access RRS "preowned parts" and I'll post my findings.
 

·
SUPER MODERATOR
2006-2009 Range Rover Sport
Joined
·
4,469 Posts
gooseyloosey said:
You bring up a good labor point Paul. My dealer labor rate is double the independent shop rate that I take my car to for non-warranty work. That could add up if you are located in an area where the dealer is the only service option in an out of warranty situation.

Also, some parts can be sourced from low mileage wrecks in a junkyard--that DVD player for instance (although I'm sure it has to be activated by some top secret code only the dealer has, right?) I used junkyards a few times in my BMW days, and found some pretty good deals. They've also gotten a good deal more sophisticated these days with finding stuff. When I cross the Rubicon on my '08's warranty, I will try and find out who has access RRS "preowned parts" and I'll post my findings.
Excellent points all around...hopefully in 3k more miles when I'm officially past the extended warranty I'll be able to find some of these items for decent 2nd hand prices at the local wrecking yards...kind of fun to go thru there and find these types of goodies.

On the DVD players, thankfully this is a simple plug and play, it's has 3 connectors which plug into the back of the unit, 4 small screws holding it in place on the floor plate under the driver's seat. Once you remove the original player and pop the new one in, it fires right back up...luckily no resetting of any codes required. `)
 
1 - 14 of 14 Posts
Top