Used car warranties

[PranK]

So, before I start, I'm not naive. I'm aware of the negativity surrounding used car warranties and I've been bitten by them myself in the past.

But, are the tides turning? For example, AWN has some really good reviews on Product Review.

We're considering a used X5. I've done lots of research, spoken to lots of people and I'm aware of the risks. I'm definitely not going into this blindly. But, when looking at one on CarSales.com.au the other day, there was an ad for Redbook used car Warranty. It was pretty well priced with the mack daddy option costing $2100 for a 3 year warranty (max claim $8k).

I kinda feel like $2100 would not cover an X5 8 speed box but $8k might. Considering the reviews for AWM, maybe its worth getting one of these warranties in the event of massive failure. Granted I don't expect small breaks to be covered but gearbox, air suspension, engine, etc. having them covered in a good solid, no backing-out warranty could be worth the outlay.

(Note I cannot get the AWM warranty as the car would be too old, hence the references to Redbook.)

Opinions?

Any first hand experiences? 

[GTSBoy]

$2100 buy for max $8k payout does not seem like the underwriter is taking on much risk.

[PranK]

1 hour ago, GTSBoy said:

$2100 buy for max $8k payout does not seem like the underwriter is taking on much risk.

Sorry, I wasn't clear with that.

$8k limit per claim.

I got my numbers wrong anyway, its $2100 for $5k per claim.

[Vodkashotx]

AWN is heavily utilized in used car dealerships, A lot of small time mechanics are on their list of authorized mechanics.

I've done a fair bit of work on their behalf in the past, They do honor their warranty as long as you generally adhere to their service guidelines. 

Naturally though; you're at the whims of their authorized repairers.

 

Edited February 25, 2019 by Vodkashotx

[niZmO_Man]

When you go ahead with it, can you document all the repairs? You can be like an Aussie Doug DeMuro.

[PranK]

3 hours ago, niZmO_Man said:

When you go ahead with it, can you document all the repairs? You can be like an Aussie Doug DeMuro.

No, Doug DeMuro is an American PranK. 

[Vodkashotx]

Doug DeMuro is fuggin painful to watch sometimes.

Regular car reviews; Get on it.