Debating cashing in my extendend warranty
10-08-2018, 03:09 AM
#1
Super Member
Thread Starter
Debating cashing in my extendend warranty
Almost 2 years ago I bought a 2014 C63 that was a CPO at dealer here in FL. I purchased the MB 2 year extended warranty for around $4200. My extra year of CPO ends in February before the extended kicks in. I've put 16k miles in 2 years. Going forward I don't see myself putting more than 5k a year. I change the oil every 3k miles and enjoy some good spirited driving. I am very well versed on the camshaft and other common issues with the car. I don't see myself spending 4k in repairs in the next 2 years. I'd love to hear any insight you guys have on this.
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FactoryFast (10-08-2018)
10-08-2018, 05:36 AM
#2
Member
Did you find out how much you would get back if you cashed it in? Our situations are similar except that I daily drive my car about 15K a year. Worth it for me to keep it, this car makes noises that scream, "premature failure imminent". Why 3000 mile synthetic oil changes? Friendly FYI, Ive been sending my oil out to blackstone labs between 4500-5400 miles and they keep telling me to go ALOT longer...but I cant do it lol.
10-08-2018, 08:16 AM
#3
MBWorld Fanatic!
I would agree with FactoryFast 3k mile oil changes are a total waste of money and old school intervals from 20+ years ago. Send out the oil for analysis, but 7500 should be fine on a change or once per year.
As for the warranty, I have always been told that cars wear out based on mileage not time (not 100% true but pretty accurate). If you don't drive it a lot, it is unlikely anything will go much wrong in 10k miles and 2 years, but if you did 15k a year, then your odds of using it in 30k miles and 2 years are much higher. Obviously sitting too much can cause issues and things can just break at anytime, but it is unlikely a large item like the motor or trans will go if all has been good for the first 20k miles in the next 10k miles. I also have a 14, 30k miles CPO and do about 5k miles a year, CPO is good for 3 more months and I am not going to purchase any extended warranty when it is up.
As for the warranty, I have always been told that cars wear out based on mileage not time (not 100% true but pretty accurate). If you don't drive it a lot, it is unlikely anything will go much wrong in 10k miles and 2 years, but if you did 15k a year, then your odds of using it in 30k miles and 2 years are much higher. Obviously sitting too much can cause issues and things can just break at anytime, but it is unlikely a large item like the motor or trans will go if all has been good for the first 20k miles in the next 10k miles. I also have a 14, 30k miles CPO and do about 5k miles a year, CPO is good for 3 more months and I am not going to purchase any extended warranty when it is up.
10-08-2018, 09:14 AM
#4
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Join Date: Jan 2016
Location: Aurora IL
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2014 C63 Edition 507
I too have a '14 CPO with 11, 500 miles that expired in August - no regrets about not purchasing an extended warranty. I drive about 3000 MPY and my car makes no noises that scream "premature failure imminent", never has. Peace of mind has value though, so if that is paramount to you - keep it, if not use that money for some fun mods.
10-08-2018, 09:32 AM
#5
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Location: Whitehouse Station, NJ
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2012 C63 P31 Sedan
Keep in mind that if you decide to sell it in the future, a transferable CPO warranty makes it much more attractive to a potential buyer so they don't have to worry about buying a lemon.
10-08-2018, 01:14 PM
#6
Super Member
Thread Starter
I would agree with FactoryFast 3k mile oil changes are a total waste of money and old school intervals from 20+ years ago. Send out the oil for analysis, but 7500 should be fine on a change or once per year.
As for the warranty, I have always been told that cars wear out based on mileage not time (not 100% true but pretty accurate). If you don't drive it a lot, it is unlikely anything will go much wrong in 10k miles and 2 years, but if you did 15k a year, then your odds of using it in 30k miles and 2 years are much higher. Obviously sitting too much can cause issues and things can just break at anytime, but it is unlikely a large item like the motor or trans will go if all has been good for the first 20k miles in the next 10k miles. I also have a 14, 30k miles CPO and do about 5k miles a year, CPO is good for 3 more months and I am not going to purchase any extended warranty when it is up.
As for the warranty, I have always been told that cars wear out based on mileage not time (not 100% true but pretty accurate). If you don't drive it a lot, it is unlikely anything will go much wrong in 10k miles and 2 years, but if you did 15k a year, then your odds of using it in 30k miles and 2 years are much higher. Obviously sitting too much can cause issues and things can just break at anytime, but it is unlikely a large item like the motor or trans will go if all has been good for the first 20k miles in the next 10k miles. I also have a 14, 30k miles CPO and do about 5k miles a year, CPO is good for 3 more months and I am not going to purchase any extended warranty when it is up.
I dump the oil early based on my style of driving and because it regularly reaches 230-240F here in FL. Often the oil cooler fans are blowing when I pull into the garage. I changed the oil at the standard service A and service B on my last AMGs and noticed some smoke coming from the pipes once they reached high mileage.
I'll have to call MB and see what the deal is on cashing it in. I was assuming I'd get the full amount back since it's been 2 years and I'm sure they are earning interest somewhere on the money I paid. Who knows though.
10-08-2018, 01:44 PM
#7
If you cancel the extension you bought before the extension period begins, you are entitled to a 100% refund of the purchase price of the program.
If you cancel it anytime during the active extension period, the refund will be pro-rated back to you.
If you cancel it anytime during the active extension period, the refund will be pro-rated back to you.
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10-09-2018, 12:12 AM
#9
Super Member
Thread Starter
10-09-2018, 09:37 PM
#10
Senior Member
WTF? Do people actually pay that much in advance for something that might never happen? Peace of mind, sheeeeeeeeit, I'll have more peace of mind having and extra 45 hundred in the bank for anything else that may come up.
