Service Plan

[paulmel]

Hi all,

On Friday I am getting the Rav's windows tinted at a place in Carnforth, quoted me £180, I THINK this is a reasonable price, anyone think any different?

Anyway, on the way back I plan to call in at Batemans in Grange to take out the Service Plan. I told the salesman we plan to keep the Rav for possibly 10 years. The longest deal available was for 9 years and cost £1630.68. The price is fixed and comes with 0%APR so costs £17.10 per month (after a small deposit to cover the first 8 months of ownership)

The way I see it is that I cant really lose. Price is fixed at todays prices (a service in 9 years time would surely be much dearer than todays price?)

0% APR means no large capital outlay, just small (in my opinion) monthly payments

Policy can be cancelled at anytime (if future cicumstances change i.e. winning the lottery !!!)

Wondered if I'm missing something obvious that doesn't make this a win-win situation for me and my long term plans ?

Also wondered if the price is set in stone or could it be had cheaper elsewhere ?

Value any feedback given.

[Hoovie]

Downside .... taking to an independant could be cheaper and save you money overall

Upside ... fixing your costs for 9 years is very handy

Overall .... Seems like a reasonable thing to do to me (I took out a 3 service plan on same principle)

don't fully get the need to pay for first 8 months? will this mean you will always have paid 8 months worth of service up front until the end of the 9 years? or is this because the next service is due in 4 months?

[paulmel]

Downside .... taking to an independant could be cheaper and save you money overall

Upside ... fixing your costs for 9 years is very handy

Overall .... Seems like a reasonable thing to do to me (I took out a 3 service plan on same principle)

don't fully get the need to pay for first 8 months? will this mean you will always have paid 8 months worth of service up front until the end of the 9 years? or is this because the next service is due in 4 months?

Yes, sorry I wasn't too clear on my description. The price is based on taking the policy out when the car is new, so the 8 months is to make up for the period from new to present time.

[Nightstalker]

Lo there...

I've been thinking about this one me self like...

How does it exactly work... do you specify over what amount of years you want to take this plan?

What if when you've started the plan you decide you need to get rid of your car ( HIM UPSTAIRS FORBID!!!) what happens to the money you've paid into the plan... is this then wasted or do you get it back?

Or what if you move away what happens then?

All in all I like the idea, just need to find out the particulars....

regards

Rob

B)

[Hoovie]

one other downside just occured to me .....

I think these plans are with a specific Dealer or Dealer chain, so if you move out the area in a few years time (for example, I moved 300 miles 3 years ago totally out the blue) then accessing the service could be awkward.

Oh, and in uncertain times, need to make sure if the dealer folds, your money is safe!