API PremierCare Extended Service Contract - is it worth it?
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API PremierCare Extended Service Contract - is it worth it?
Picking up my 2001 A6 2.7 (sport, premier, winter, etc. -- everything but nav) tomorrow. Has 28k miles.
Dealer is offering me an API PremierCare ext service contract for $1800. 4 years. Covers EVERYTHING but the following: throttle body & exhaust (inc. cat convert), tires, battery, bumpers, airbags, paint, rust.
I've searched the forum and the only references to API are really old (but positive). Any more recent experience with this this company out there? Opinions on the value of this?
I know the arguments about ext. service contacts vs. self-insurance and get that the companies are not offering me this to be charitable (i.e., they're out to make money off me), but this one has an interesting clause... If I never use the contract, they refund my money -- all of it. Now, if I have just ONE expensive claim (say a turbo blowing -- possible given my 6/00 manufacture date??), this puppy has paid for itself. If I never make a claim that I think will help this contract pay for itself, I get my money back.
Opinions?
Dealer is offering me an API PremierCare ext service contract for $1800. 4 years. Covers EVERYTHING but the following: throttle body & exhaust (inc. cat convert), tires, battery, bumpers, airbags, paint, rust.
I've searched the forum and the only references to API are really old (but positive). Any more recent experience with this this company out there? Opinions on the value of this?
I know the arguments about ext. service contacts vs. self-insurance and get that the companies are not offering me this to be charitable (i.e., they're out to make money off me), but this one has an interesting clause... If I never use the contract, they refund my money -- all of it. Now, if I have just ONE expensive claim (say a turbo blowing -- possible given my 6/00 manufacture date??), this puppy has paid for itself. If I never make a claim that I think will help this contract pay for itself, I get my money back.
Opinions?
#2
Re: API PremierCare Extended Service Contract - is it worth it?
Nice find with low miles. I bought an '01 2.8 a couple of months ago with an extended warranty for 3 yr./36000 mi., and have already used it once to replace the passenger side window motor. I have a $100 deductible on it, but the total bill was $350, so the warranty co. paid the other $250. These cars are definitely not cheap if something breaks down.
However, I was under the same impression that pretty much everything is covered from the shiny sales brochure they hand you about the warranty. Then the actual fine print shows up. Turned out my information LED in the gauge cluster was not covered and it's about a $700 part with a couple hours of labor. Have you read through the "fine print"?
However, I was under the same impression that pretty much everything is covered from the shiny sales brochure they hand you about the warranty. Then the actual fine print shows up. Turned out my information LED in the gauge cluster was not covered and it's about a $700 part with a couple hours of labor. Have you read through the "fine print"?
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Have not read the fine print yet -- why I was hoping people had experience with API...
I'll definitely take a look a the contract when I pick up the car tomorrow to really get a handle on the exclusions. I know that this is one of those cases where "the devil is in the details."
I've done extended warranties in the past and never used them so I'd normally be very skeptical. That's why the "never use it and you get your money back" clause got my attention. This puts me in a position of deciding if and when to flip the switch. If I take it in and am told the repair bill will be $2k, I can go for it and know the warranty has paid for itself. If the repair bill is only $200, I can make the tougher decision on whether to file a claim or pay for it myself.
I've done extended warranties in the past and never used them so I'd normally be very skeptical. That's why the "never use it and you get your money back" clause got my attention. This puts me in a position of deciding if and when to flip the switch. If I take it in and am told the repair bill will be $2k, I can go for it and know the warranty has paid for itself. If the repair bill is only $200, I can make the tougher decision on whether to file a claim or pay for it myself.
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See my comments in response to your post above^^^^. Also, what is the deductible? Have you checked
out any other companies? Also, is the contract and exclusionary type? As an option, check out Extended Auto Warranty (link attached). Maybe the comparison can help you make up your mind.<ul><li><a href="http://www.click4warranty.com">Extended Auto Warranty link - click here</a></li></ul>
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What's an "exclusionary" warranty? EAW looks more expensive....
...by about $350 (20%). My car also did not qualify for a bumper to bumper (had to be 5yrs or newer) which I think is more equivalent to the API. Pretty sure the deductable is $100 (need to check that)
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#8
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Exclusionary = list of things NOT covered...
which is a good way to have coverage. It basically means that if it is not listed on the items excluded, it is covered.
I went originally with AAAutoWarranty (a forum sponsor), good price, upgraded to wear and tear coverage, $50 deductible, 4yrs from purchase date or 100k on the odometer, was about $2400 or so. However, a deal that the local Audi dealer quoted for the Audi extended warranty seemed to be very competetive, so I am going with that.
I figure that I would head to the dealer for most repairs, but if it is something not covered under warranty (Audi's or 3rd party's coverage) I would go to an indy to fix anyway.
I went originally with AAAutoWarranty (a forum sponsor), good price, upgraded to wear and tear coverage, $50 deductible, 4yrs from purchase date or 100k on the odometer, was about $2400 or so. However, a deal that the local Audi dealer quoted for the Audi extended warranty seemed to be very competetive, so I am going with that.
I figure that I would head to the dealer for most repairs, but if it is something not covered under warranty (Audi's or 3rd party's coverage) I would go to an indy to fix anyway.
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Thought so.
I'm pretty sure this is an exclusionary policy so I'll definitely check out the fine print and go with my gut.
Thanks!
P.S. I'll also follow the proper rules of turbo ownership. I'd hate to get banned from the forum -- which I think I would if I couldn't sign an affidavit that I've been a good boy.
Thanks!
P.S. I'll also follow the proper rules of turbo ownership. I'd hate to get banned from the forum -- which I think I would if I couldn't sign an affidavit that I've been a good boy.
#10
Ask Sia on the B6 S4 board
He has set up a group buy through an Audi dealer. It's a bit more expensive but it's probably worth it as it's a product Audi dealers sell and you will likely have less hassle getting things done using this company.
FWIW, I negotiated the same contract down to $2200 at my local Audi dealership. Partly because I am a good customer of theirs. You might take a printout of the webpage down to your local dealer and see if they will better the group buy price. Even at the GB prices I think the dealer is making good money so your dealer may want the sale.<ul><li><a href="http://www.tripleplate.com/forum/showthread.php?t=1324">http://www.tripleplate.com/forum/showthread.php?t=1324</a</li></ul>
FWIW, I negotiated the same contract down to $2200 at my local Audi dealership. Partly because I am a good customer of theirs. You might take a printout of the webpage down to your local dealer and see if they will better the group buy price. Even at the GB prices I think the dealer is making good money so your dealer may want the sale.<ul><li><a href="http://www.tripleplate.com/forum/showthread.php?t=1324">http://www.tripleplate.com/forum/showthread.php?t=1324</a</li></ul>
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