Hi,

I just purchased a 1997 SL 500 with 68,500 miles. I'm trying to decide whether it is worth my while to purchase an extended warranty. The cost is significant, $5,500 to take me to 100,000. Since I'm not familiar with repair costs for these types of vehicles is this something I should consider or take my chances. Help!

 

Eeek! That's a lot of money. Insurance. Damned of you buy it, damned if you don't. But I've never heard a consumer advocate recommend an extended warranty.

I'd put the $5,500 somewhere accessible just in case you need it and where it will earn you something instead of spending it on something you may never use. That industry survives off of people who don't make claims and by being deft at denying claims that are made.

Wouldn't it be terrible to be facing a $5,000 repair bill and find out the warranty you bought doesn't cover the repair? If I'm not mistaken, these companies aren't true insurance companies and therefore aren't regulated by your state's insurance commission. In other words, they don't have to follow the "rules" because they make their own. Check this out before you buy.

Although MB repairs are above average, $5,500 will pay for a major repair or a whole lotta lesser ones.

 

the $5,500 can be spent for minor and major repairs for the next 3 years, so why give it to them? imagine all the paper works and troubles on convincing them that the problem is suppose to be covered by that warranty... when all you got to do is to pay cash for quick repair.

i don't agree with extended warranty. you're a lady driver, and the car wont wear out much.

 

Whole hartedly agree on the warranty issue... 5K plus is a boat load of bucks, invest it. But one comment for Sleepwalker... I know you're from Asia, and things are different over there for sure. But I'm not too sure you want to refer to American women as lady drivers as if that somehow means something. I take by your comment that you mean the car will not be driven hard. I have to disagree, I for one know my lady can tear up the pavement with the best of them!

 

yes, i agree western lady drivers are quite different.

i saw a canadian grandma who can ride motocross better than the local chinese hunk.

but this coming september i am going to see for the first time the Formula One race in shanghai. we are given complimentary tickets already costs $400 each. i got a set of marquardt uniform too.

 

I'm sure the race will be the highlight of the summer, enjoy!

 

CA Benz Girl,

I just purchased a 2000 SL500 for $46K. It had 23K miles. After trade in the price was $36K. The dealer wanted to charge $3,000 for an extended warranty. I decided to go online and look up extended warranties. I found a couple of recommended companies. The online companies provided much more coverage at a cheaper price. Do your due diligence online. I paid $2,000 for a zero deductible bumper to bumper coverage for 60,000 miles. I don't do much driving in my car but the cost of repair bills on the MB is outrageous. My main motivation was the fact that although the car has only 24K now, the factory warranty was 4 years/50K miles. You see which came first. I doubt I'll hear a peep out of the car but I tell ya...the damn peace of mind is worth it. Now the true test will be when/if I ever have a claim...

 

Orsadude2,

Do you mind saying which company's maint policy you bought? We are starting to look at policies for a 2001 S500 as we are approaching the 4 year limit on the original waranty.

Anyone have any experience with claims from the companies other than MB?

 

JK348ts,

I purchased a warranty through Warranty Direct. I paid $2190.00 in total. I have a 4 year 60,000 mile policy. I'm sure the time will expire before the milage! I hope this helps

orsadude2

 

yes, it helps. I will be sure to check into theirs.

Thanks