CPO vs. Extended Warranty
02-06-2010, 09:27 AM
#1
Junior Member
Thread Starter
Join Date: Feb 2009
Posts: 23
Likes: 0
Received 0 Likes
on
0 Posts
2009 ML320 Bluetec
CPO vs. Extended Warranty
Can you CPO you own vehicle and if so any estimates what that would cost on a 2009 ML320 Bluetec with 24000 miles? Also - how does that compare to an extended warranty and which is better?
02-06-2010, 12:57 PM
#2
MBWorld Fanatic!
CPO means "certified pre-owned" and assumes the dealer has made some profit selling a used car.
Any warranty is simply an insurance policy, you gamble something will go wrong, the insurer that it won't. Insurance companies don't lose money. They might specifically on you, but the odds are they won't.
Rather than prepaying for possible repairs, control the money yourself, earn some interest, and then use the funds when/if repairs are required. If the repairs are never required, you still have your money.
Any warranty is simply an insurance policy, you gamble something will go wrong, the insurer that it won't. Insurance companies don't lose money. They might specifically on you, but the odds are they won't.
Rather than prepaying for possible repairs, control the money yourself, earn some interest, and then use the funds when/if repairs are required. If the repairs are never required, you still have your money.
02-09-2010, 10:34 AM
#4
Junior Member
Join Date: Feb 2009
Posts: 65
Likes: 0
Received 0 Likes
on
0 Posts
2009 ML350
other thoughts? uh... yes. if you do a little research, you'll find that luxury car owners with low reliability ratings -- i.e. MB -- are the ones that take the greatest advantage of extended warranties. somewhere to the tune of 40% of them save money by purchasing an extended warranty. note also that if you take advantage of a warranty and it doesn't pay for itself, like if your bill was $3400, but you paid $3500 for the warranty, you wouldn't be included in that aforementioned 40%. if i were in that latter group, i wouldn't be griping about it.
the idea that saving and 'controlling' your money now for later problems presupposes that your repair costs will be the same or less than the warranty cost. not a safe bet where MB repair costs are concerned. insurance companies make money, yes.. averaged across millions of customers. would you forgo health insurance and 'control' your money now so you can pay for a $25k MRI or broken leg or whatever later?
the idea that saving and 'controlling' your money now for later problems presupposes that your repair costs will be the same or less than the warranty cost. not a safe bet where MB repair costs are concerned. insurance companies make money, yes.. averaged across millions of customers. would you forgo health insurance and 'control' your money now so you can pay for a $25k MRI or broken leg or whatever later?
02-10-2010, 09:17 AM
#6
Junior Member
Join Date: Feb 2009
Posts: 65
Likes: 0
Received 0 Likes
on
0 Posts
2009 ML350
i did purchase one, and i got it through MB for a few reasons -- obviously, being through the manufacturer itself, i can feel confident about the coverage, unlike some aftermarket warranties. i'm sure some people have had positive experiences with them, but there are plenty of bad ones for sure.
also, the warranty is transferable, which helps for resale, and if i were to trade this vehicle in, i would get refunded the pro-rated amount of warranty not used (minus a fee of a $100 or 2). if this were to happen prior to factory warranty expiring, i would get nearly all of the money back.
if you are going to go with them, it's best to do it sooner than later. mileage and time from purchase date make a difference in pricing. in the future, i will purchase it outright along with my vehicle and save the most that way. as is, i purchased it a few months ago, which was slightly over a year after i bought the vehicle, and 8k miles later. i paid about $200 above what the original warranty offer was, which i didn't feel too bad about.
also, the warranty is transferable, which helps for resale, and if i were to trade this vehicle in, i would get refunded the pro-rated amount of warranty not used (minus a fee of a $100 or 2). if this were to happen prior to factory warranty expiring, i would get nearly all of the money back.
if you are going to go with them, it's best to do it sooner than later. mileage and time from purchase date make a difference in pricing. in the future, i will purchase it outright along with my vehicle and save the most that way. as is, i purchased it a few months ago, which was slightly over a year after i bought the vehicle, and 8k miles later. i paid about $200 above what the original warranty offer was, which i didn't feel too bad about.
02-17-2010, 07:50 AM
#7
Newbie
Join Date: Nov 2009
Posts: 5
Likes: 0
Received 0 Likes
on
0 Posts
06 ML350
Can you tell , how much you paid (2k, 3k)and for for how long is the warranty for (3years, 4years).
Thanks,
Thanks,
i did purchase one, and i got it through MB for a few reasons -- obviously, being through the manufacturer itself, i can feel confident about the coverage, unlike some aftermarket warranties. i'm sure some people have had positive experiences with them, but there are plenty of bad ones for sure.
also, the warranty is transferable, which helps for resale, and if i were to trade this vehicle in, i would get refunded the pro-rated amount of warranty not used (minus a fee of a $100 or 2). if this were to happen prior to factory warranty expiring, i would get nearly all of the money back.
if you are going to go with them, it's best to do it sooner than later. mileage and time from purchase date make a difference in pricing. in the future, i will purchase it outright along with my vehicle and save the most that way. as is, i purchased it a few months ago, which was slightly over a year after i bought the vehicle, and 8k miles later. i paid about $200 above what the original warranty offer was, which i didn't feel too bad about.
also, the warranty is transferable, which helps for resale, and if i were to trade this vehicle in, i would get refunded the pro-rated amount of warranty not used (minus a fee of a $100 or 2). if this were to happen prior to factory warranty expiring, i would get nearly all of the money back.
if you are going to go with them, it's best to do it sooner than later. mileage and time from purchase date make a difference in pricing. in the future, i will purchase it outright along with my vehicle and save the most that way. as is, i purchased it a few months ago, which was slightly over a year after i bought the vehicle, and 8k miles later. i paid about $200 above what the original warranty offer was, which i didn't feel too bad about.
