Car Buying Tips Guide 1

(Barry) #1

Being a sucker for a nice driving car, (and maybe glutton for punishment!) acouple years later I bought another Q45, this one a 1992 model. As JD
Power still ranked the car highly, I figured that first one had been a lemon.Of course, this time I made sure to purchase the best service contract I


could find. Inside a year though, this Infiniti began to have even moreproblems than the first. When repairs hit $14,500 dollars, I learned why you (^)
had to write the purchase price of the vehicle on the contract—becausethat is the limit of what the insurance company will pay! After that, they
cancelled the policy. And I sold the car.
purchase price of the car.TIP: The most the service contract will pay out in claims is the^
I’ve also owned multiple BMWs, as I love the way they drive. But I’velearned they always need something, so I make sure I put a service
contract on them before the factory warranty expires. On my next-to-lastone, a 2004 X5, I had about $1,300 in repairs in the 18 months I owned it. (^)
When I went to sell it on the retail market, I was able to offer the servicecontract with it (it was good for 100,000 miles and another 3 ½ years),
which made it very attractive to buyers—especially as other X5s from thatyear were now out of factory warranty.
I got over $1700 more for the vehicle, which was based on the “unused”percentage of the service contract still in effect. This helped offset the
losses I suffered since CARFAX had inaccurately reported the severity ofan accident the X5 had been in, lowering its resale value.

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