PeachParts Mercedes-Benz Forum - View Single Post - Extended Warranty, Preventative Maintenance Musings

shertex · #1 12-26-2004, 12:31 PM

Has anyone done any research on purchasing an extended warranty for an older MB? Working under the assumption that certain insurance companies are willing to write a policy for just about anything, I thought that I might be able to find something that would, in effect, fix my maintenance costs for the life of the vehicle.

Right now, I've got 160,000 miles on a 1992 300D 2.5 Turbo which I intend to keep as long as I possibly can. I'd be happy to have a policy written that is non-transferrable. My thought was that, from the perspective of the insurance company, they might think that I wouldn't hang on to the car for all THAT long; but from my perspective, I'd be glad to take to 500k. If I could, in effect, fix my maintenance costs by virtue of having the policy, that might not be such a bad arrangement.

So how might I pursue such a policy?

And then a related observation: it seems to me that certain kinds of preventative maintenance fall into the category of exorbitant insurance premiums, i.e. money spent that may be disproportionately large compared to the potential loss. (Keep in mind here that I don't do my own work...I pay to get it done.) Take, for example, replacing the timing chain. Some people recommend that it's good idea to do eventually (say around the 250k mark); others say it ought to last the life of the vehicle. Let's say you decide to do it as a preventative measure. So you're spending, what, $500, to insure against a potential $3,000 loss (major engine repair)? I wouldn't think for most people that would be financially prudent. My conclusion: for certain kinds of preventative maintenance, it's a better use of money not to do the repair, take your chances, and hope for the best.

Thoughts?