Hello F-Type forum,

I'm new here, and I just order a 2014 F-Type V8 with <30k miles from Carmax and I'm torn whether I should take them up on their "MaxCare" warranty. Is this warranty plan worth it and which deductible would you pick?

• up to 5 years or up to 50k additional miles (I'm expecting to drive 10k miles/year)
• costs $800/$700/$600 per year with $50/$150/$300 deductible per repair.
• Everything's covered with exception of regular maintenance (oil, tires, brakes, etc.)
• Repair shop of choice, incl. Jaguar dealers; cancel anytime, emergency roadside assistance, rental reimbursement, etc.

I'm reading on caredge.com that the average annual repair costs for the F-Type after 8 years are $1900 to $2700 per year. Based on these numbers the Warranty should be a no-brainer. However, the numbers could be a bit misleading for my case since they don't account for the low mileage, they don't differentiate between regular maintenance and actual repairs, and it doesn't say "how many" repairs. E.g. if I end up having 10 repairs in 5 years and the average repair is only $400, then I'll end up paying $3000 out of pocket given the $300 deductible.

Would be great to get some insights into how many repairs you guys have with the V8 model and how much these repairs were on average.

Many thanks in advance!

 

Hard to say whether something is worth it because value has different meanings to different people (and most of us cannot tell the future) - that said, I have heard numerous people discuss the CarMax warranty and from what I can tell, it's pretty awesome especially for luxury or sports cars with costly parts and labor. You can find quite a few videos on youtube about it as well. as always make sure you are crisp on the details, coverage and costs. Cheers.

 

I don't know specifics of Carmax warranty but I seriously doubt 'everything' is covered. Typically a ton of exclusions in these policies. Eg might exclude gaskets and bushings (so no suspension work, no oil leaks etc). Might excel some electronics. Would ensure you know what it covers

Also warranty companies are out to make money. So their best estimate of the cost to them of repairs must be less on average that what they charge customers. Or they would not make any money. So these warranties can be good to avoid costs of a catastrophic failure (Eg engine fail) but prob not economic for typical basic repairs. So as insurance against an extreme event it could be good. But on average the customer should loose.

 

What's covered: https://www.carmax.com/car-buying-pr...-service-plans

 

On paper it looks better than many as it's exclusionary (lists what's excluded). So in theory if not on the list it's covered. But the list is vague - doesn't cover breakdown incl overheating if misuse, abuse or lack or maintenance (at their discretion). Doesn't cover hoses or belts, suspension and a list of many typical wear items

Reviews are poor but I guess people don't go and rave about a warranty...
https://www.consumeraffairs.com/auto...-warranty.html

On balance I'd say that economically you're better putting the money in a savings account and just paying for repairs as needed. You have a deductible (per issue?), doesn't cover wear and typical maintenance items, so the scope is only a portion of annual repair costs

But if you're worried about downside protection for a major issue like an engine failure then it will give you peace of mind at what looks like a pretty reasonable cost.

FYI I've bought two Jags with the CPO extended warranty (5 yrs on an XF and 2 extra years to 7 on the F Type). Only the XF covered any issues in its lifetime (prob $1500) and I paid twice that for the warranty. The F Type never needed for anything. So economically I'm a long way out of pocket. But it gave me peace of mind around a big purchase
I don't think I'd buy one again as I've found both Jags far more reliable than I thought I would (had the XF 10 years and still daily driven)

 

Yes, yes, and yes. Carmax warranty covers more than most OEM original warranties do. Two of my vehicles purchased through them have had repairs ending up being more than the cost of their warranties. You can take your car to any shops as well, not just to Carmax. And when I sold my car (the 16' f-type R) they refunded the unused amount with no questions asked. Unless you are feeling brave about owning an 8yrs old Jag, this will be money well spent.

 

I bought one for my '17 XE with 40K miles on it.
British European Motors, a Jaguar specialist near me processed a Carmax warranty. The customer got a new engine out of it, albeit used.

My FType is a Carvana car and they will not write warranties for Jaguars - only 3 months after purchase. The Carmax FTypes did not have the trim level, colors, and option packages that I wanted otherwise I would have bought from them given the warranty. Cross fingers nothing catastrophic goes wrong.

 

I always get the CarMax warranty. Short story time:

I had a 2007 BMW E90 335XI bought from them at 45k miles. Bought the CarMax warranty due to my research on common large issues. I correctly estimated that it would cover the turbo waste gate rattle (full turbo & waste gate replacement under warranty!), HPFP fail, and AWD transfer case failure within the 100k miles of the warranty. Ended up spending ~$2300 on the warranty which got put into the loan, but it paid out over $15,000 in repairs and I got to take it to the BMW dealership near me for expertise and free rental car.

Id suggest the same for this type of car. I bought an aftermarket warranty which will only cover me to 60k miles on my '15 F-Type R Coupe (currently 32k, drive ~3-4k annually). Peace of mind, and a good selling point if you ever want to sell since its transferable!

 

On the one hand:
- I always reason that warranty companies are in the business to make money. And, they're VERY good at it.
Generally, the expected repair costs is a bit less than 50% of the premium.
- My personal OOP repairs for non-maintenance work has, so far, totaled $211 for a battery.
On the other hand:
- You're buying a car from CarMax, so there's a fair amount of uncertainty that comes with it.
- There are a number of possible issues that could come up that would easily overshadow the premium cost.

Overall, I personally have never bought an extended warranty, but I'd give it some serious consideration in your case.
Hopefully you'll look back and conclude is was a waste (meaning the car turned out to be reliable and the warranty didn't "pay" for itself.)
As much as anything, extended warranties are about peace-of-mind.

 

Can you buy a 'CarMax' warranty on a non CarMax Car?

 

I will vote yes on Carmax warranties. I have one on my 2015 and it has pretty much paid for itself.. I have had a dash rattle and all 6 injectors replaced along with the radiator overflow system. They even gave me a loaner car. My dealer ended up sending the car to the local Jaguar service center for all the work so its basically all done there. All this for the cost of the deductible. Have to add it always comes back with a full tank of gas and washed too

 

have never had it but I've always heard good things about carmax warranties, including personal friends.

 

I would say yes becaue it coming from carmax. If you knew how carmax and carvana work and buy vehicles..it would scare you into buying it.

 

HOW????

 

Well like crap..horrible business model. Fyi: Carvana went from $230 to $13 a share this past year. I sold 2 cars to them aboit a year ago...and they paid well over retail for both. Both out of warranty 2017 Lexus with 25k miles, and a 2016 BMW with 50k miles.They Didn't drive either before buying, picked up at house, both had issues , both needed tires. Lexus had transmission issues, BMW had horrible electronic issues and clutch slipping, just for starts. Both were not fixed before they put them up for resale, and on their lot for sale within a week. Dumbest buyers I have wver encountered. They Bought them both for more than I did 2 years prior....it was ridiculous. I know they weren't fixed Lexus parts were on backorder. Handed me a check and said a tow would pick them up in 24 hrs...transaction lasted 10 min buy some 18 yr old kid that knew nothing. Put keys in lockbox on window. Cars were gone in morning. Carmax works identical.

 

I agree with your comments about Carvana, but just because Carmax has a slightly comparable business model doesn't mean they are the same. For instance, Carmax does indeed thoroughly inspect any cars before buying them (I once witnessed a 45min inspection, they read the engine, etc.), they usually offer much less than Carvana, and they let you test drive and return the car for 30 days. Carvana doesn't let you test drive at all and return is only 7 days. Not a Carmax fan here but Carmax is the big boy focused on quality and great service whereas Carvana is the tech bro wannabe who's only focused on fast growth at the expense of quality. Sell your car to Carvana, buy your car from Carmax

 

carmax isn't much better , have also dealt with them.
Same business model carfax down 60% in a yr. Im in the business,and have been for 25 yrs..carmax is and has been the joke of industry buyers, i have dealt with both, and with all due repsect carmax is the furthest from quality you can get, i see it everyday. Carmax is more expensive hence why they Give a little better options for protection. They offer better buyers protection..but they also will cut corners and hide issues BAD!. If you only knew the announcements and previous paintwork ( even with a clean carfax) both of these companies buy you wouldn't be purchasing there at all. Both have quit giving top dollar for cars...

 

I sold a '15.5 Volvo s60 to Carvana about a year and half ago and it was the most amazing experience I've ever had buying/selling vehicles. I went online and filled out a form with basic vehicle info and got a price [which at the time was about 30% HIGHER than I thought it would be]. I agreed to the price and two days later a guy shows up with a check [never even looked at the car], and they took it away.

Fortunately for them, I take meticulous care of my vehicles so they got a super clean car, but after they left [and the check cleared!], I was wondering how long before they would be going bankrupt. Bizarre.

 

I've been very happy with CarMax both buying and selling. I have sold three cars there, and all three offers were higher than I was expecting. I have bought two trucks and both were great deals. I would get the warranty on a higher end (rarer and more expensive to repair) vehicle like the F-Type, where I did not on the F-150's I got that "anyone" can fix.

 

down 98% in a year ,( down another 15% today) bankruptcy is right around the corner. Stock from $300 to $7. Never seen anything like it with a company that a year ago was about to go into dow 100.