BMW Extended Warranty

[immaculate]

Hello everyone,
I apologize if this is a repeated topic, but a search on the forum for this topic didn't show any results.

I bought my first BMW (and my first car) about 3 weeks back. It is a 2000 BMW 323i with 30K miles on it. I still have about 3 weeks of factory warranty left on it.

Would anyone suggest buying an extended warranty for it?

I did get a qoute from a local BMW dealer for a 4yr/48k (i.e. will go to 78K miles on the odometer or 4 yrs whichever is first) for $2200. Is this a reasonable price. That warranty is underwritten by Jim Moran & Associates, Fidelity Warranty Services. This is their "Platinum Exclusionary Warranty"

I also looked for extended warranties online which were about 500-1000 dollars cheaper but I am not sure how to find a reliable one?

Any suggestions or opinions would be greatly appreciated!

TIA

[jahwobble]

Three months ago I purchased a certified pre-owned 2002 325ci with 19,800 miles on it.
I also opted for the BMW factory Full Maintenance Warranty Extension for $1200. This is exactly what it sounds like: all fluids, brakes, and standard maintenance is included plus the warranty items. So when the brakes are up, that expensive maintenance is covered 100%. Also, this warranty is recognized at any BMW dealership.
What you've described sounds like an aftermarket warranty which may have many conditions, limitations and may very well not cover full maintenance. I don't have enough knowlege of BMW failure rates to see if its cost effective. It seems expensive.
I would head over to the dealership and go for the BMW of North America warranty described above. It cost more than mine, but sounds like a better deal.

[pmolfese]

if it covers breaks alone, 2200 sounds worth it.

[immaculate]

The policy states that Brake linings, brake drums and rotrs and disc brake pads are excluded. Everything else related to brakes (I don't think anything significant is left after those exclusions) is covered.

This probably because it is a warranty plan and not a maintenance plan (I think that is the difference between extended warranty and full maintenance programs, at least that's my understanding.