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Financial Analysis of 5 year Experience with a Fidelity Platinum Warranty
I have been shopping for a Aftermarket Exclusionary Warranty for my 2013 E350 4matic Coupe that I recently purchased from a private party. Unfortunately, both the original and CPO warranty had both expired. So if I wanted an Exclusionary Warranty, it would need to be be an aftermarket warranty.
Based on comments on MBWorld, Fidelity appears to have A good reputation for taking care of major mechanical problems with Mercedes. After much research and many quotes, the best prices that I could get for a 5-year/50,000 miles/$250 deductible Fidelity Platinum Warranty was $5856, cash price, single payment I do plan to keep my E350 Coupe for at least 5 years (60 months). Amortized over this timeframe, this warranty works out to approximately $97 per month for "peace of mind" against a major mechanical failure plus $250 for any covered repair At first glance, this cost does not seem unreasonable. I recently prepared a Service History overview for the new owner my prior car (2004 Audi A6 Avant Quattro; the equivalent Mercedes is a W211 E-class wagon). This overview allowed me to see my cost of maintenance ownership over years 5 thru 9 of my car. From 2008 thru 2012, I had a Fidelity Platinum Exclusionary Warranty purchased from a local Audi dealer for $4280 for 5 years/50,000 miles with $0 deductible when service was done at the dealership ($100 deductible). During the 5 years of warranty coverage, I had 4 mechanic component failure claims covered under the warranty for a total $740.39. During this same 2008-2012 time frame, I had $5855 in parts and service costs for "Wear and Tear" items that are not covered under an Exclusionary Warranty. This worked out to $1171 per year on average. Detail are shown in the attachment below. Based on this experience and financial analysis, the Fidelity Platinum Warranty for me was a poor use of funds. Yes, German cars can be expensive to maintain. But the so-called "bumper-to-bumper" coverage of an Exclusionary Warranty NOT cover the "wear and tear" maintenance that you KNOW you will have with an older German car. Going forward I will "bank" the funds that I had planned to use for an extended warranty in a Car Maintenance account. I will also set up monthly deposits into this account. When I need to service my car, I will pay from my dedicated Car Maintenance account. https://cimg2.ibsrv.net/gimg/www.mbw...e2b0102ca6.jpg |
Originally Posted by SMG_CT
(Post 7647930)
I have been shopping for a Aftermarket Exclusionary Warranty for my 2013 E350 4matic Coupe that I recently purchased from a private party. Unfortunately, both the original and CPO warranty had both expired. So if I wanted an Exclusionary Warranty, it would need to be be an aftermarket warranty.
Based on comments on MBWorld, Fidelity appears to have A good reputation for taking care of major mechanical problems with Mercedes. After much research and many quotes, the best prices that I could get for a 5-year/50,000 miles/$250 deductible Fidelity Platinum Warranty was $5856, cash price, single payment I do plan to keep my E350 Coupe for at least 5 years (60 months). Amortized over this timeframe, this warranty works out to approximately $97 per month for "peace of mind" against a major mechanical failure plus $250 for any covered repair At first glance, this cost does not seem unreasonable. I recently prepared a Service History overview for the new owner my prior car (2004 Audi A6 Avant Quattro; the equivalent Mercedes is a W211 E-class wagon). This overview allowed me to see my cost of maintenance ownership over years 5 thru 9 of my car. From 2008 thru 2012, I had a Fidelity Platinum Exclusionary Warranty purchased from a local Audi dealer for $4280 for 5 years/50,000 miles with $0 deductible when service was done at the dealership ($100 deductible). During the 5 years of warranty coverage, I had 4 mechanic component failure claims covered under the warranty for a total $740.39. During this same 2008-2012 time frame, I had $5855 in parts and service costs for "Wear and Tear" items that are not covered under an Exclusionary Warranty. This worked out to $1171 per year on average. Detail are shown in the attachment below. Based on this experience and financial analysis, the Fidelity Platinum Warranty for me was a poor use of funds. Yes, German cars can be expensive to maintain. But the so-called "bumper-to-bumper" coverage of an Exclusionary Warranty NOT cover the "wear and tear" maintenance that you KNOW you will have with an older German car. Going forward I will "bank" the funds that I had planned to use for an extended warranty in a Car Maintenance account. I will also set up monthly deposits into this account. When I need to service my car, I will pay from my dedicated Car Maintenance account. https://cimg2.ibsrv.net/gimg/www.mbw...e2b0102ca6.jpg Im at a very similar decision point on an SL550, ‘14 low miles. The huge concern is, what if a major component fails, such as Transmission or electronics. A friend just experienced a “$20,000 repair just within warranty involving the display screen and associated components”. Supposedly, a massive interconnected major repair/replacement. If true, a service contract is CHEAP insurance, as on a MBZ $5000 doesn’t go far if a Turbo, or other major item goes out. Your thoughts? |
Originally Posted by Sky1
(Post 7651992)
Great detailed analysis. Thank you. Im at a very similar decision point on an SL550, ‘14 low miles. The huge concern is, what if a major component fails, such as Transmission or electronics. A friend just experienced a “$20,000 repair just within warranty involving the display screen and associated components”. Supposedly, a massive interconnected major repair/replacement. If true, a service contract is CHEAP insurance, as on a MBZ $5000 doesn’t go far if a Turbo, or other major item goes out. Your thoughts? I have also been researching the reliability for the C207 series (2009-2016 E-class Coupe) on MBWorld. This car has generally been quite reliable. My car is not turbocharged and doe NOT have a lot of the newer, electronic driving aids. It does have the COMAND system and GPS. I look forward to your reply. |
Originally Posted by SMG_CT
(Post 7652027)
Is your 2014 SL550 still under any type of MB warranty? You may be able to get a better deal from MB on en extended warranty than an aftermarket warranty.
I have also been researching the reliability for the C207 series (2009-2016 E-class Coupe) on MBWorld. This car has generally been quite reliable. My car is not turbocharged and doe NOT have a lot of the newer, electronic driving aids. It does have the COMAND system and GPS. I look forward to your reply. I agree that the E class has less of the gizmos, any yes, it’s reliable. Iit’s all about one's personal risk tolerance. Personally, I’m concerned about a major problem which could result in many thousands. I’ve see a few threads generally saying they are way ahead moneywise with coverage. Have you, or others reading this thread had any experience with Royal MBI ELITE PLUS service contract? I mentioned this as their quote is really cheap. |
Ask your Service Writer for their opinion
Originally Posted by Sky1
(Post 7652158)
SMG_CT, yes it’s still under a CPO which ends soon. MBZ, only offers 2yrs max, not bad and $3500-$4000. I prefer longer as obviously the older a car gets the more the risk increases. I would hate to pay for a repair on the SL convertible top, as an example. I agree that the E class has less of the gizmos, any yes, it’s reliable. Iit’s all about one's personal risk tolerance. Personally, I’m concerned about a major problem which could result in many thousands. I’ve see a few threads generally saying they are way ahead moneywise with coverage. Have you, or others reading this thread had any experience with Royal MBI ELITE PLUS service contract? I mentioned this as their quote is really cheap. Ask your Service Writer for their experience, good or bad, with Warranty Companies. Based on your comment, I would think that you will want an Exclusionary warranty that covers expensive mechanical and electronic failures. |
Check with FD-Warranty for a quote on a Fidelity Exclusionary Warranty
Originally Posted by Sky1
(Post 7652158)
SMG_CT, yes it’s still under a CPO which ends soon. MBZ, only offers 2yrs max, not bad and $3500-$4000. I prefer longer as obviously the older a car gets the more the risk increases. I would hate to pay for a repair on the SL convertible top, as an example. I agree that the E class has less of the gizmos, any yes, it’s reliable. Iit’s all about one's personal risk tolerance. Personally, I’m concerned about a major problem which could result in many thousands. I’ve see a few threads generally saying they are way ahead moneywise with coverage. Have you, or others reading this thread had any experience with Royal MBI ELITE PLUS service contract? I mentioned this as their quote is really cheap. |
Thanks, I agree on Fidelity being well regarded from reading comments on this forum. Also, had a service manager confirm they are reputable. Have spoken with Troy Dietrich and he is very helpful. |
Good analysis. No warranty including new car covers the items listed in your details of wear and tear items. If maintenance is included then simple oil changes maybe for a limited period but generally speaking very limited.
Some vehicles are more prone to breakdowns especially the high end performance versions. |
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