Guys,
I bought extended warranty for my 2003 Audi A4 with 44k mileage today.
For 3 years/36k, I paid $2450 - Platinum plan

I think this is too high for the coverage I am getting.

I got this warranty through my Audi dealer and the provider is Fidelity Warranty services.
I am planning to cancel it on Monday.

Please let me know what you guys think.

Thanks in advance.

 

It's hard to make a meaningful reply without knowledge of what's covered under that plan; if you can provide some details, people might be able to be more helpful. That price is lower than what I was offered for a service plan on my '02 when I bought it about a month ago, at least, but they wanted something like 25-30% of the price of the car for 18 months, so I wasn't paying that regardless of what it covered.

Dealer quotes for doing the timing belt are usually $1200+ these days, so *if* you think you can convince them to cover that at 80K miles, which might be earlier than it really needs it, it might be worthwhile, as that's half of the price right there. That said, I could easily see this being refused as unnecessary at that mileage, especially since it'd be right before the warranty expires, so that point might or might not be relevant.

 

This is the highest level of coverage available with Audi thro Fidelity. However this does not cover any of the routine maintenance.

I don't think timing belt would be covered under the warranty because TB replacement comes under routine maintenance.

Thanks for your reply.

http://www.fidelitywarrantyservices....tion_plan.aspx

In addition to offering the same features of Powertrain, Silver, Gold, and Gold Plus, Platinum expands to cover almost all assemblies of your vehicle, giving you the "Ultimate Peace of Mind" protection.

Platinum Exclusions


UNDER PLATINUM COVERAGE, ANY OF THE FOLLOWING PARTS:

Brake linings, brake drums and rotors, disc brake pads, standard transmission clutch components, air bags, solar powered devices, hinges, glass, lenses, sealed beams, body parts and/or panels, trim, moldings, door handles, lock cylinders, tires, wheels, batteries, light bulbs, upholstery, paint, bright metal, freeze plugs, heater and radiator hoses, exhaust system, shock absorbers, audio, security or other systems not factory installed, work such as front-end alignment or wheel balancing, constant velocity joint boots, safety restraint systems, cellular phones, electronic transmitting devices (except for those specifically listed under silver, gold, or gold plus coverage), radar detectors, appliances, near object avoidance systems and all laser radar cruise control components, vinyl and convertible tops.

 

Reading through that link, timing belt is actually mentioned under the lowest level of coverage; I still wonder if it'd be problematic to get them to do it based on the mileage though, given that 80K is the earliest time it's supposed to need be checked, let alone replaced. It does seem that just about everything is covered under that plan, so I guess your experience with the rate of failures on your car should dictate your choice. If you think you can expect $2500 or more in repairs over the next 36K miles, then it's an OK value. Otherwise, it's not so good.

 

I'm not a big proponent of extended service plans. I also believe you will find the TB is covered for FAILURE, not for replacement under maintenance. These contracts typically cover break/fix situations only.

 

Covering the TB for failure rather than maintenance would be kind of silly, given that a failed TB basically means total engine rebuild, and is therefore MUCH more costly - you'd think that they'd rather pay for maintenance replacement rather than new valves, pistons, etc, plus many more labor hours. That said, you're probably right, as corporations often seem to operate on the maxim of "if it makes sense, we don't do it."

 

CANCEL now, BBB.org dose not recommend them. Check their website b4 u purschase.

 

I don't know about those extended warranties. European Car once ran a consumer advise column and they couldn't get consistent information from sales personnel about coverage and what if type of situations. I personally used to ask for it everytime I was looking into a car, then I realize that normal wear and tear items are the only thing that worries me.