Extended Warranty

I'm trying to decide whether or not its worth it to start looking into one of these for when the factory warranty expires on my 2000 SL.
I've been told to expect $2600 for two years of coverage. On the other hand, numerous people have said that these cars "don't break" and after a 13 year run, I would imagine this car to be pretty reliable. However, should something serious go wrong, (which is always a possibility) I assume I could easily spend what it cost me in premiums.
Does anybody have thoughts, experience or perspective on this?

[den500sl]

97 500SL Sport Edition 1

My dad passed away last year leaving us this gem of a car. He had the foresight to purchase diamond edition warranty (5 years or ????? miles). Given MB model that is as technically complicated as the 500sl and labor and parts rates as expensive as MB's, we have been able to take advantage of warranty in replacement of control module for soft top ($1400). Although replacement part had a 97 date (hmmmm?).

[el presidente]

Just like in gambling, the "house" usually wins.

Warranty companies stay in business because the odds are with them. If you put that $2,600 into a money market fund and draw from that as needed, chances are that you will stay ahead of the game.

But, if it makes you feel better to have the "insurance" then go for it...

[jcyuhn]

That's a lot of money for only two years of coverage! I'd hope it wouldn't cost $1300/year to keep such a new car on the road.

I did purchase an extended warranty for my '98 E-class sedan. I based that decision on the cars' history - it had been rather troublesome during the warranty period, requiring two major repairs and several minor ones. I assumed it would continue to skulk into the dealers' service bay for $1000 worth of work each year. Thus far, it has not disappointed me.

I purchased an aftermarket warranty. It covers 7 years/100K miles for about $2K. If purchased before the factory warranty expires, the 7 year period begins on the purchase date rather than the in-service date of the car. I bought mine 30 days before the factory warranty expired. So my car - a '98 E300 with 42K miles - is covered until July of 2008 or until it reaches 100K miles.

So far it looks as if I have done the right thing. On schedule, the car broke down in December 2001. It required $800 to repair, of which the warranty covered about $750. So far, so good.

Thanks for the post.
Which company do you have the warranty with?

[jcyuhn]

Had to go look this up, I cannot remember anything these days. The company is 'Warranty Direct.' You can get an online quote at their website: htto://www.warrantydirect.com Go for the Diamond coverage - it's the equivalent of a new car warranty. Covers everything but cosmetics & consumables (i.e. paint, brake pads, etc.) Good luck.