Warranty contract help

[iRacingMyers]

Any warranty experts on here willing to give me some help with an opinion on a contract I received on an M6 I am thinking of buying? I have zero experience on used cars and warranties.

Thanks,

Steve

[danielgmanm6]

Originally Posted by iRacingMyers

Any warranty experts on here willing to give me some help with an opinion on a contract I received on an M6 I am thinking of buying? I have zero experience on used cars and warranties.

Thanks,

Steve

I might be able to help if there was any information to go off of.

[bg6]

Fwiw, I purchased a 3 year/36k warranty for an exorbitant $8300 when I purchased my 2014 f06 with 56k miles 2 years ago. I took my car into service a couple of weeks ago for a regular oil change,window motor issue - rear window wouldn’t roll up. Dealership found an oil leak and fixed it under the veritas warranty for a grand total of ~5600 in labor and 300 in parts.

[iRacingMyers]

I passed on the warranty based on some feedback I got on it and what I’ve learned. It’s on certified warranty until sept so I have some time to shop.

Anyone have someone they love?

[DJiGGs]

Originally Posted by bg6

Fwiw, I purchased a 3 year/36k warranty for an exorbitant $8300 when I purchased my 2014 f06 with 56k miles 2 years ago. I took my car into service a couple of weeks ago for a regular oil change,window motor issue - rear window wouldn’t roll up. Dealership found an oil leak and fixed it under the veritas warranty for a grand total of ~5600 in labor and 300 in parts.

That $5900 was out of pocket or covered by warranty?

[Chilldontsice]

I purchased a similar warranty ( 3yr ~36k miles) when I purchased my ‘16 M6GC 2 years ago for about the same price.
So far I’ve used it for

-window motor malfunction (same as stated above)

- bank 2 crank case vent leaking (replaced)

- e-break unit malfunction on driver side rear wheel (nightmare)

Only thing that sucks that I hadn’t realize is that the warranty only covers up to a certain amount of the labor, you have to pay the difference. They did pay for all parts in full.

[iRacingMyers]

Unfortunately for the 2nd time in 2 months a dealer and I came to a deal and I spend a day jumping through hoops only to find they sold the car already. I’ve never had issues with dealers in over 30 years of buying cars and my last two expierences have sucked.

[bg6]

All covered by warranty except for $100 deductible

[JDMSteven]

Be cautious with warranties on these things, they're getting older so more and more companies are not offering warranties or if they do it's shitty coverage. I drank the koolaid when I first bought mine and believed it would be a nightmare to own an M6. I bought a $4500 warranty from Patriot who was recommended in here, turns out their labor rate was only 50% of the dealers cost and the coverage was shit. When I tried to get a prorated return they would send me to voicemail every single time, but when I called and pretended to buy a new warranty they'd happily sell me one. At the end of the day I took it up with Goldman Sachs and they refunded me in full.

Moral of the story; warranties are nothing but a meticulously calculated bet, and the house will win 99% of the time. Whatever a warranty costs... set that aside in maintenance/repairs. That $4500 2yr/24k mi warranty would have paid out precisely $0 since I'm coming up on 2 years in August and have had nothing go wrong with mine.