The Inside Scoop on Lifetime Warranties
If you've ever been offered a "Lifetime" or 'Limited Lifetime" warranty by your dealership when buying a brand new car, that was a Powertrain warranty. Keep in mind on "Lifetime"or "Limited Lifetime" warranties there are quite a few limitations on how many repairs they will actually pay for, and they're often not transferable to a new owner.
A Powertrain Warranty is an effective choice if you're driving an aging or high-mileage vehicle, given it protects the parts which can be costliest to mend and costs less than full coverage.
If You're Driving An Older or High-Mileage Luxury Vehicle
Be aware when you're driving a luxury vehicle such as a Jaguar, Mercedes Benz, Range Rover, etc., the cap on a Powertrain warranty might mean that you'll still be paying a big amount for repairs out of pocket, for the simple reason that they are much more expensive to fix than your average vehicle.
Our recommendation for anyone driving high-mileage luxury vehicles is to either:
Trade it in when it's no longer under warranty
or
Get top-quality warranty that covers most or all of the vehicle
It is going to be costly if it's available, but can save you $1000s when you end up making use of it. We've seen major repairs on high-end cars run in excess of $7000-8000. If you're buying an older model luxury vehicle, or one which has over 50,000 miles, think very carefully. If you can't afford to either pay money for major repairs by yourself or put a good warranty on it, that particular car is probably not the ideal buying decision for you at the moment. Consider a more economical model, or decide if you can't find one that's still under warranty.
