Warranty Advice

[scud]

My 328 has 59K and I need an extended warranty. What are your suggestions- I don't know if it pays to get a 2500 dollar warranty or a 1350 warranty- they make the paperwork so difficult it's tough to find out which are good and which give you a hrad time about coverage when stuff breaks. Any advice- whos good and bad? Kemper any good?
thanks
scud

[GreenDragon]

I wouldn't buy it, but that's my own personal decision.

If you'll be using the same shop as when the car was under warranty, and all was fine, then get it and forget it.


otherwise, see above.

[peterkulesza]

the general opinion in the press (consumer reports, autoweek etc) is that these things are not worth it.

bmw has a program like this, i'd check it out. i am with greendragon 100%.

peter

[Snowjob]

So are you saying that there's no point in getting extended warranties?

I'm going to get a 99-00 323i pretty soon with about 90k miles and I've been thinking that a warranty was the way to go if I can afford it. They seem to be relatively inexpensive (around 2k, right?) so I thought it'd make a lot of sense.

Was I wrong?

[playdrv4me]

Originally posted by Snowjob@Dec 25 2003, 04:09 PM
So are you saying that there's no point in getting extended warranties?

I'm going to get a 99-00 323i pretty soon with about 90k miles and I've been thinking that a warranty was the way to go if I can afford it. They seem to be relatively inexpensive (around 2k, right?) so I thought it'd make a lot of sense.

Was I wrong?

Yea I dont know what that was all about, Extended warranties on Luxury and Sports car brands are certainly worth it and probably the FEW cases where an extended warranty IS worth it. Moreso on a vehicle like this because of the extreme cost of parts. I will certainly be going with a provider like WarrantyGold once my car gets closer to the 50k or 4 year mark.

The most important thing with warranties!! They MUST be insurance company backed! There was recently a huge disaster that occured with many of them because of improper handling of the funds used to pay out the claims or something like that. SmartChoice was one, WarrantyGold was another as was National Warranty Insurance Corp (many claiming to be based out of the Cayman Islands). WarrantyGold has since switched to insurance company backing and they are much more stable now.

[Snowjob]

Thanks, I'll definetely look into it.