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OPC extending warranty terms - means rethink??

Sarllm

Well-known member
Joined
16 Oct 2011
Messages
126
Just found out (probably old news here!) that Porsche will now put a warranty on a car upto 15 years old (previously 9).

I own a 997.1 TIP Turbo (2007) that I have always slapped an OPC warranty on for peace of mind. I'm happy with the car but I was planning on selling this year a few months before my warranty expired (in the summer).
Given Turbo prices seem to be around what I paid for the car (2.5 years ago) my plan was to pay another 5k ish and move back\forward into a lower mileage 2010 gen2 997 PDK 4S. My brain is telling me that is a good move, and of course I would've been avoiding a potentially costly bill should something go wrong with the car without a warranty (I've had about 5k of work covered under warranty).

Now I can extend the warranty. Woopy! How does this effect the market? Are 997.1 Turbo's likely to remain at this price point? I'm currently over the moon in the fact that I haven't really lost any money on the car. Should I hang on in the hope prices may go up? My car has done 60k which I know is highish........

I guess bottom line is this.......Getting your crystal ball out, in 2 years time would a 2007 Turbo be worth much less than a 2010 997.2 4S??


Many thanks!
 
Personally I wouldn't feel a need to run either a 997.1 Turbo Tip nor a PDK gen 2 4S under warranty - in the long term neither are likely to leave you out of pocket if you put the money in the bank instead. Remember that your "£5k" of work is all at OPC prices and can always be done for less (even using the exact same factory parts). Also, if that has all it has needed then the cost of running in warranty for the 6 years since it fell out of factory warranty is still more...

I don't know about 2 years time for specific value, but I would certainly expect you to lose more money in that period from the younger 4S than the Turbo. Possibly quite a bit more.
 
Disco said:
Personally I wouldn't feel a need to run either a 997.1 Turbo Tip nor a PDK gen 2 4S under warranty - in the long term neither are likely to leave you out of pocket if you put the money in the bank instead. Remember that your "£5k" of work is all at OPC prices and can always be done for less (even using the exact same factory parts). Also, if that has all it has needed then the cost of running in warranty for the 6 years since it fell out of factory warranty is still more....

I agree with you.... but T8 will be along shortly to disagree :)
 
apollokre1d said:
I agree with you.... but T8 will be along shortly to disagree :)

I certainly will. :D

=> It all depends how lucky you are

4 hours diagnosis today and a new MAF sensor being fitted tomorrow would have added another few hundred £'s to my 2015-2016 running costs.
 
What were your symptoms Terry? Did you buy a raspberry?! ;-)
 
Jcx said:
What were your symptoms Terry? Did you buy a raspberry?! ;-)

No symptoms other than the amber 'Drive to workshop' light came on.

Apparently no specific fault code was showing so it took all yesterday afternoon and a while this morning for them to find something that stopped the light from coming back on.
 
T8 said:
Jcx said:
What were your symptoms Terry? Did you buy a raspberry?! ;-)

No symptoms other than the amber 'Drive to workshop' light came on.

Apparently no specific fault code was showing so it took all yesterday afternoon and a while this morning for them to find something that stopped the light from coming back on.

Got to love a warranty... :)
 
Sarllm said:
.......... My plan was to pay another 5k ish and move back\forward into a lower mileage 2010 gen2 997 PDK 4S ........

Now I can extend the warranty. Woopy! How does this effect the market? Are 997.1 Turbo's likely to remain at this price point? I'm currently over the moon in the fact that I haven't really lost any money on the car. Should I hang on in the hope prices may go up? My car has done 60k which I know is highish........

I guess bottom line is this.......Getting your crystal ball out, in 2 years time would a 2007 Turbo be worth much less than a 2010 997.2 4S??

I'm in a similar position to you Sarllm in that my original plan was to swap my 2007 997T and get a newer 997GTS some time next year. The extended warranty period now available means that I'm now planning to keep it a bit longer and get a 991 C4S.

In your case the current trade/private/retail values of your car and a 2010 997 C4S are virtually identical so I guess the £5k you'd be expecting to add is the difference between trade for yours and retail for the one you'd be buying.

My opinion (and hope) is that values of the 997T will stay pretty much where they are now for a couple of years and that the value of 997 and 991 Carreras will drop. If you're happy with the 997T I reckon you'll be far better off keeping it. My dream is to get into a 2012 991C4S without having to add too much - even it means waiting until 2018.
 
[/quote]

I'm in a similar position to you Sarllm in that my original plan was to swap my 2007 997T and get a newer 997GTS some time next year. The extended warranty period now available means that I'm now planning to keep it a bit longer and get a 991 C4S.

In your case the current trade/private/retail values of your car and a 2010 997 C4S are virtually identical so I guess the £5k you'd be expecting to add is the difference between trade for yours and retail for the one you'd be buying.

My opinion (and hope) is that values of the 997T will stay pretty much where they are now for a couple of years and that the value of 997 and 991 Carreras will drop. If you're happy with the 997T I reckon you'll be far better off keeping it. My dream is to get into a 2012 991C4S without having to add too much - even it means waiting until 2018.[/quote]

Thanks for the thoughts everyone.....

T8 - it is a nice position to be in isn't it? I still pinch myself. If i'd done what a lot of my mates had done and brought new BMW's etc, I'd have lost 50% of the purchase price, by now. As it is, in the past 6 years I've had a 997.1 4S and a Turbo and can basically get my cash back!

The problem I have (well I guess its not a bad problem) is that my car is my every day runner. Probably 9k a year - so in 2 years time it'll have close to 80k on the clock. Presumably that would lose me a bit......

For what it's worth (you may be interested) I was offered £40k from the dealer I got it from. Given 10-12% mark up does this seem fair?
 
Sarllm said:
For what it's worth (you may be interested) I was offered £40k from the dealer I got it from. Given 10-12% mark up does this seem fair?

Given the mileage £40k for yours seems pretty fair. I reckon he'd mark it up by 15% for retail.

With an OPC warranty you might get a bit more by selling privately but private buyers are rare and those that are around normally haggle for a bargain.

Fingers crossed in 2 years time it shouldn't be worth much less even with c80k miles up.
 
T8 said:
Sarllm said:
For what it's worth (you may be interested) I was offered £40k from the dealer I got it from. Given 10-12% mark up does this seem fair?

Given the mileage £40k for yours seems pretty fair. I reckon he'd mark it up by 15% for retail.

With an OPC warranty you might get a bit more by selling privately but private buyers are rare and those that are around normally haggle for a bargain.

Fingers crossed in 2 years time it shouldn't be worth much less even with c80k miles up.

Thanks, I think like you I'm going to hold off for at least a year. A 2012 991 4S would also be my dream. I think we'd need quite a fall in prices though for a 991 to fall into my price bracket. I'm pretty frugal and a current quick check looks like 2012 991 4S's are going for around 70k....however you never know!
 
T8 said:
apollokre1d said:
I agree with you.... but T8 will be along shortly to disagree :)

I certainly will. :D

=> It all depends how lucky you are

4 hours diagnosis today and a new MAF sensor being fitted tomorrow would have added another few hundred £'s to my 2015-2016 running costs.

I would contend that if you took it to one of the better independents instead of Porsche then they would very likely have resolved it quicker and much, much cheaper (as corroborated by Ken's post to your thread). Perhaps the value in your warranty is felt mostly because you choose to have it repaired by main dealers? In such a case then yes, you are right and they often do make a lot more sense.

Conversely, I had a recent gearbox issue calling for it to be pulled apart. If I had taken it to Porsche the spend would have been immense just to diagnose, but Fearnsport sorted it for an amount which very much validates the economics of not extending the warranty (the actual fault was more minor that I even dreamed, but getting to it was significant surgery). I still use OPCs for the biannual stamps in the service book (so if I were ever to sell, the dealer history is there if it were important to a prospective buyer), but all of the extra services in between those as well as any other maintenance goes to specialists. They fix things that Porsche needlessly replace because with OPCs either the parts are too obscure and rarely used to be cost effective to inventory, the dealers lack the specific expertise or their labour rates are too high to make a repair economically sensible.

It is not that I have any axe to grind on main dealers, but the more serious the job it seems the more expensive they are relative to the alternatives. And the top independent specialists will do at least as good a job - and that isn't a rare opinion.

To me, the main reason for anyone to go the warranty route is to essentially turn variable ownership costs into fixed ones. Which is fine, but you have to accept that Insurance companies don't run at a loss so the longer term you plan to own, the more sense it makes to bank the money instead of extend the warranty.
 
Disco you have made some very valid points there . I would like to share a recent warranty experience all be it with a kia dealer.sorry to go off topic.

wifes car 65 reg sportage. Plastic top coat of gear gaitor surround ( centre console ) is starting to peel and flake.

Kia indys state absolute 1hr tops to swap out centre console. Kia dealer who is actually doing th job wants the car all day stating minimum 4 hrs. :?:

are we bothered ? Not really as long as the repair is gratis. The point i am trying to make is that warranty hours imo are maybe exagerated by the dealer because they are working at a discounted labour rate for the warranty underwriter.

And a similar discount is also applied to parts cost within a warrany claim. I agree Insurance companies always profit ultimately but the dealers are not far behind them !

In relation to your excellent variable vs fixed overhead statement, i shall be performing further man maths when trying to decide whether to bank the funds or purchase an extendied opc warranty for 11 yr old 911.
 
agree with above and another point is at OPC you often see younger less experienced mechanics as the older experienced ones have left and work/own indys ?
 
Great perspective Disco and one which I have had for the duration of my Porsche ownership.
 

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