Geno, I know you are a car guy and appreciate the comments
I bought a 2006 Mercedes C280 last year with 40k miles and was a lease return, clean CarFax and a great price at $16,900...I bought 5 yr/100k extended warranty for $1500 from hearing costs of repairs on Mercedes...too late now but was this a bad purchase with repair costs on these cars?
I am a parts counterman in GM store, I hear how much the salesman makes and the deal(er) makes on these contracts, and the MBIC corp is making a profit also,( or at least that is the motive) so many levels of profit added into the repair expense, yes like any insurance contract it is underwritten to cover the claims and return a dividend. Main appeal is to share the total expenses among many, I would rather avoid all those beaks in the feeder and underwrite my own repairs. That viewpoint combined with my focused insight of GM products, and their repair record of each carline model as I see it 9 hours a day every working day affords me the knowledge to avoid the worst of the products.
Back to focus on your question, depending on the langauge of the contract that sounds like a decent value and YES GERMAN cars are expensive to repair! Is the 100K added to the current mileage? Or does the coverage end at 100K on ODOMETER?
Our water leak sublet specialist told me months ago about a Jetta his wife had to have. His wallet is still recovering from the impact of that car. BENZ or any luxury car carries a luxury price on the parts and labor charged by a fanchised deal. I see it in CADDY, HUMMER & VET parts every day.
Plus every option and feature you add is another motor, module, actuator or sensor/switch to break/fail.
Power windows, electric antennas and air bags are NEVER GONNA cost a penny on that 1964 Nova your grand - aunt used to drive :0074
At the other end of the model line up we have the AVEO, might be the korean word for junk, not sure has the same number of letters. Hit a Cbus, OH pothole in late feb or march and you are gonna need a new wheel maybe even a tire. Weak link on that model!
Another gripe I have about MBIC bought on new car is duplication of manufacturer's base bumper to bumper warranty, emmision 8/80 warranty and powertrain warranty for 5/100. These all come with the car when purchased new and the sales guy wants me to purchase additional coverage that I WILL NOT collect on untile these components/systems until the base warranty expires and he wants me to finance and pay interest on that expense while I am waiting, then he even gets a reserve(kickback) from the bank on the amount financed.
Makes you wonder " Hey if this new care is so good why do I need the extra coverage:shrug:
