Options for Extended Warranty after 7 Years
08-26-2019, 03:50 PM
#1
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2015 GL 550
Options for Extended Warranty after 7 Years
We're in our 5th year of ownership of our 2015 GL550 and our extended warranty has already proven its worth. With less than 29 thousand miles we expect to reach 7 years long before the mileage limit.
What are our options for an 'extended' extended warranty for a low-mileage vehicle? We don't want to sell our GL550, but we can't keep it without a warranty ... not for an old vehicle of this complexity!
What are our options for an 'extended' extended warranty for a low-mileage vehicle? We don't want to sell our GL550, but we can't keep it without a warranty ... not for an old vehicle of this complexity!
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SaniDel (08-26-2019)
08-28-2019, 03:40 AM
#3
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I'm wondering if there are third-party options for a 2015 GL63 too. I'm going to call my credit union in the morning to find out what they have to offer. The selling dealer of another franchise said that they did not have any options available. The car only has 38k miles.
@SaniDel , You might find some coverage through your local credit union.
@SaniDel , You might find some coverage through your local credit union.
Last edited by SndsoftheSbrbs; 08-28-2019 at 03:59 PM.
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SaniDel (08-28-2019)
08-28-2019, 03:57 PM
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Well, my credit union quoted me $7,580 for a 48mo/48k mi exclusionary (aka bumper-to-bumper) service contract on a 2015 GL63. By my calculations...this makes the car rather worthless. The book value for CPO adds only about $3,500 in value.
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SaniDel (08-28-2019)
08-28-2019, 04:06 PM
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2015 GL 550
Sadly so it seems. The M-B extended warranty is a great deal as it costs between $2,300 to $2,700 to increase coverage for three years and varying amounts of mileage, but past seven years it seems no one wants to take the risk of insuring our vehicles against breakdowns, which is what an extended warranty is. Not that we should be surprised ... these are complex vehicles, lots of moving parts and with a middling reliability record. Let's enjoy them while we can ... until we regret them!
08-28-2019, 05:19 PM
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2015 S550
When I had my S600, I purchased the car with 24k miles and purchased exclusionary coverage through my credit union for $3300 which got me 7 yrs and 75k miles of coverage. In 37 months of ownership and 23k miles of use, it paid out over $24k in claims. The beauty of these warranties is that they are transferable to a private party sale or you can receive a refund for the unused portion. I actually got a $1600 refund after I traded in my S600.
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SaniDel (08-28-2019)
08-28-2019, 08:08 PM
#7
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It doesn't make it worthless. Service plans are always a gamble....but are less so on a German car which are renowned for their high repair costs. I purchased 4 yr/45k of coverage for a little over $5k when I purchased my GL in Dec, 2017 through the dealership. The dealership actually lost over $1600 on the cost of the warranty in order to put the sale together (I saw their buy cost). I've put 14k miles on it so far and it has been completely reliable with not 1 warranty related repair (knocking hard on wood) and I'm currently at 54k miles. So far my warranty hasn't been paying off, but the other shoe could drop at any time.
When I had my S600, I purchased the car with 24k miles and purchased exclusionary coverage through my credit union for $3300 which got me 7 yrs and 75k miles of coverage. In 37 months of ownership and 23k miles of use, it paid out over $24k in claims. The beauty of these warranties is that they are transferable to a private party sale or you can receive a refund for the unused portion. I actually got a $1600 refund after I traded in my S600.
When I had my S600, I purchased the car with 24k miles and purchased exclusionary coverage through my credit union for $3300 which got me 7 yrs and 75k miles of coverage. In 37 months of ownership and 23k miles of use, it paid out over $24k in claims. The beauty of these warranties is that they are transferable to a private party sale or you can receive a refund for the unused portion. I actually got a $1600 refund after I traded in my S600.
