Ownership Car warranty company reveals the largest bills paid in 2017
Check Out The Absolutely Insane Interest On This Exotic Car Lease
You would assume that dealers selling high-end cars would be less inclined to try to take advantage of folks on that level because they understand it’s bad for business. This bonkers lease, though, goes to show that even wealthy buyers have to run the math. I got a tip from someone who tried to acquire an exotic car and thought the payments were a bit high given that he was leasing it and not buying it. So I requested a copy of the quote myself and what I saw absolutely stunned me.The vehicle in question is a 2012 Audi R8 4.2 with a manual transmission with a purchase price of just under $100,000.
Buy a new car and it’s likely to come with a three-year warranty, but many manufacturers will offer extended warranties for an additional premium. Alternatively, some new cars will be covered for five or even seven years, providing peace of mind until as late as 2025. But what do you do when the warranty expires?
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You’re faced with three choices: sell the car, chance your arm, or opt for an aftermarket warranty. Typically, you’ll pay anything from $140 to £700 a year, but in return you’ll be covered in the event of the failure of mechanical or electrical parts. Warrantywise has just released details of the top 10 car repair bills it paid in 2017, and the costs will send shockwaves through your wallet. All photos used are for illustrative purposes only.
10: Audi TT engine ($7048.46)
It’s worth pointing out that not all aftermarket car warranties are created equal. There are a number of different options out there, offering various levels of protection. Many will cover the major mechanical and electrical parts, but others might include protection against MOT failure and multimedia malfunction. In 2017, Warrantywise paid just over $7000 when an engine failed on an Audi TT.
This 750-HP LS7 Crate Engine From Mercury Racing Will Solve All Of Life's Problems
Look around you, look at all the unhappy people with their tiny engines. Cadillac CT6s and Subaru BRZs with their pathetic little 2.0-liter four bangers. McLarens running around with puny 3.8 liters, an insult to the V8 configuration. No, my friend, what you need is DISPLACEMENT. Only then will you achieve TRANQUILITY and INNER PEACE. What you need is this naturally aspirated 7.0-liter, modified LS7 crate engine from Mercury Marine. And, yes, I do mean the boat engine company. What Mercury did was take an LS7 V8 crate motor from GM and give it new set of Mercury Racing designed, Edelbrock cast, aluminum DOHC four-valve cylinder heads, according to the company’s website.
9: Mercedes-Benz C-Class sensors ($7117.78)
A similar figure was paid out for failure of the sensors on a Mercedes-Benz C-Class. We took a look on the Warrantywise website, where we were quoted $2,775 for a three-year warranty on a 2014 Mercedes-Benz C220. This includes a garage labour rate of up to $49 an hour and a single repair limit of $7,000. Increase these rates, and add the likes of multimedia, MOT and emissions cover to the package, and the cost will increase.
8: Porsche Cayenne oil leak ($7625.20)
Even something that appears to be a relatively minor issue can cost an arm and a leg to repair, like the $7625.20 it cost to repair the oil leak on a Porsche Cayenne. If this doesn’t encourage you to investigate the cause of that puddle on your driveway, nothing will.
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7. Ferrari 599 gearbox ($7965.00)
You wouldn’t buy a Ferrari 599 expecting to see running costs on a par with a Ford Fiesta, but finding $7965.00 at the drop of a hat would be a stretch for most people. The Warrantywise website features a handy tool which provides an insight into the items most likely to go wrong on each car. The Ferrari dropdown menu includes everything from a 575M F1 gearbox ($8541.90) to a 430 sensor ($3010.00).
6. Lamborghini Aventador clutch ($8254.65)
But it’s important to stress that big bills aren’t the preserve of exotic supercars. Warrantywise paid an eye-watering $628.44 for a brake caliper for a Daewoo Kalos and $597.46 on a heater matrix for a Daewoo Tacuma. A latch (!) on a Proton GEN-2 cost $443.69, while a new engine on a Kia Sorento weighed in at $4089.88. Not quite Aventador clutch money, but in relative terms it’s quite a chunk.
5. Maybach 62S brakes ($8472.21)
The Maybach 62S is a lumbering beast of car, so you need to ensure the brakes are up to scratch. Spending $8472.21 on the braking system should ensure the anchors are fit for purpose. Speaking of luxury motors, we took at look at Rolls-Royce, and discovered that Warrantywise has paid out for repair bills of up to $5018.41 on the Phantom.
What Is Gap Insurance (And Why You May Need It)?
It helps protect motorists who are "upside down" on a lease or car loan.If you’re buying or leasing a new car or truck these days, you’ll likely be offered – perhaps required to purchase – so-called gap insurance. This type of policy covers the difference between what a given vehicle is worth and what the owner or lessee still owes on it, should it be stolen or become totaled in an accident. For the record, “gap” stands not for the above imparity, but for Guaranteed Auto Protection.
4. Dodge Journey gearbox ($8681.64)
Yes, somebody in the UK actually bought a Dodge Journey, and when the gearbox went, they probably wish they hadn’t. Fortunately for them, Warrantywise covered the cost, which came in at a staggering $8681.64. There are many faults listed under the heading of ‘Dodge’, so a warranty is likely to be a good move.
3. Nissan GT-R gearbox ($8694.11)
On this evidence, the Nissan GT-R is a supercar-tamer with supercar-rivalling costs, should things go wrong. In addition to the $8694.11 paid out in 2017, Warrantywise has previously forked out $13170.80 and $8577.66 for two separate gearboxes, and $6779.50 for various engine faults.
2. Land Rover Discovery 4 engine ($11,822.94)
The Warrantywise website makes for grim reading for anyone who has recently purchased a used Land Rover. The Range Rover Sport looks particularly troublesome, with the table filled with bills upwards of $3050. But each one is dwarfed by the $11822.94 claim for a new Discovery 4 engine in 2017. Ouch.
1. McLaren MP4-12C gearbox ($13,864.00)
Imagine being faced with the prospect of a new gearbox on a McLaren MP4-12C. We suspect that the round figure is based on the upper limit of the warranty cover, which would suggest that the final bill was even higher. MP4-12C owners might want to wrap their seven-speed dual clutch gearbox in cotton wool.
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Now more than ever, buyers are interested in the total price of the vehicle rather than the monthly payment.Human behavior is an interesting subject. In fact, it's so interesting that private companies are willing to pay big bucks to try to understand and manipulate it to a certain extent. While this applies to many things, data on car-buying behaviors is highly desirable to companies with ties to the automotive industry, whether it's a car auction, a car dealership, or a bank's financing arm.
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