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#1 (permalink) Old 03-31-2010, 11:51 PM
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Extended Warranty

Hello All,

It's about 9 months away until my warranty is up. Want to get a head start and do some research.

Does anyone know of a company that provides extended warranty that they would recommend?

Thanks in advance for your input.
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#2 (permalink) Old 03-31-2010, 11:53 PM
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Sorry guys for posting this in the New Members section.

I am obviously new to this site.

I just bought a 2007 550i
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#3 (permalink) Old 03-31-2010, 11:58 PM
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witeshark is just really nice witeshark is just really nice witeshark is just really nice witeshark is just really nice witeshark is just really nice
Almost all extended warrenties are over priced. You end up spending far more than you can benefit in pretty much all cases.

BMW

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#4 (permalink) Old 04-02-2010, 10:09 PM
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It's true, extended warranties are overpriced. But it is insurance-you know the insurance company makes money, but it can keep you from being wiped out by a huge bill. Especially with BMW!

Forget about 3rd parties. Get the BMW extended warranty. Just be aware it doesn't cover a number of items-Mercedes' extended is MUCH better.

I would look online + call to a number of dealers, seeing who will give you the best price on the extended warranty.
BMW North America

By the way on another note, all-in with depreciation and repair costs, it may not really be so long-run cost effective to drive your car forever and ever. Maybe with a Honda or Toyota, but not a BMW, too much stuff tends to go wrong.

What year and model do you have? What options?
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#5 (permalink) Old 04-02-2010, 10:16 PM
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Quote:
Originally Posted by Head_Unit View Post

By the way on another note, all-in with depreciation and repair costs, it may not really be so long-run cost effective to drive your car forever and ever. Maybe with a Honda or Toyota, but not a BMW, too much stuff tends to go wrong.

What year and model do you have? What options?
Not intending to jack this thread, but at what mileage do you think is best to trade on? Just curious what your SWAG might be? My 530i is about to hit the 60K mark (just got it).

'05 530i
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#6 (permalink) Old 04-03-2010, 12:39 PM
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If you check lease pricing on certified preowned BMW/Mercedes, you'll find they are MORE expensive than new.

You can conclude that these cars are much more desirable with low miles, and that they depreciate more from say 30-60k miles than from 0-30k. And that's exactly what a number of finance people told me. The implication is that actually you should buy these cars BRAND NEW and just keep them for a long time. If you can't swing the purchase, then lease and buy out the lease. OR keep leasing serially.
--> There is no cheap way to own these cars. They're just expensive. End of story.

Probably the car's depreciates takes a kind of extra hit
1) As it approaches the going-out-of-warranty point
2) Approaching 60k miles, which sounds like a lot and scary to most people
3) Again approaching 100k miles.
These can be maybe mitigated somewhat by purchasing a factory extended warranty.

So I think you are past the "optimum" point already if there is such a thing.

The BMWs are probably good to 100k, then more and more stuff will start to break. If the car is paid off, it's nice to have no payment, but at some point repair costs will start to become more than leasing a Civic, and a hassle to boot.
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#7 (permalink) Old 03-29-2013, 03:13 PM
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I know a few companies that are reliable, but most of them will be overpriced. When you get on the phone with a customer rep, don't be afraid to negotiate. My friend got $1K off the price that they offered. Plus, some companies offer deals ($200 off your first call - Endurance www.endurancewarranty.com), i think they still have that deal.
Also, you would rely on companies that have good BBB rating and other certifications. And you can shop around online, most websites offer online quotes, you will have to submit some basic info and get the quote. It will help you understand which company you should contact. Here are a few companies/websites that i found: (they have free quote form) warrantyheadquarters.com
autoservicewarranty.com

Or you can go online and search for auto warranty quotes.

Overall, I think protecting your BMW is a good idea. I agree with Head_Unit on that.

I know it's a little late to respond, you probably bought warranty already, but I hope other readers find it helpful!

Good luck!! Yeah, a hell of a lot

Josh

Last edited by witeshark; 03-30-2013 at 01:05 AM.
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#8 (permalink) Old 03-30-2013, 09:48 AM
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This thread was three years old. Just an FYI.

Whoops, didnt see the Whiteshark Edit! Haha


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#9 (permalink) Old 04-05-2013, 11:25 PM
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Extended 3rd party warranties are a ripoff.
There's a lot of angry folk finding that they've paid for a product that didn't actually exist, and nothing is really covered.
But if you really have to get one, stick with BMW.
And do your homework with Mr Google.
A couple hours on there, and check for each and every company you're looking at, will save you money and heartache later on.

Ford made a short but big deal about their cars only being any good for the first five years.
The majority of the original owners/ lessees won't keep it after that, so Ford has no interest in making cars with any longevity.
If their factory warranty only goes to 50 or 60k miles, and/or three to five years, get rid of it before then.
Ask me about my Taurus POS for a rant.
BMWs need a little more upkeep than a Ford. Then again, that upkeep will make it last almost forever.
I've got over 250k miles on mine.
Get a binder, and every receipt goes into there.

I had a few (just a few!) friends who got bit with the leasing bug. Lease it for five years, but trade it in in three.
Yaay! New car all the time! Good warranty! No problems!
Until car #4 or 5 happens, and you now owe almost a car's worth before you sign anything.

I like keeping what fits, and my 86 does that. Wifee likes it.
My insurance is maybe 15% that of a new car.
If I pay @ 20% of a payment towards upkeep every month, I'm making money.
You just have to remember to factor that maintenance and upkeep into your life.
It becomes a minor but essential hobby.
For less than the cost of your extended warranty I'm doing pretty good.

So: don't sell your car if you like it, unless you really need a change.
Instead of an extended warranty do extra maintenance.
BMW has a Level1 and Level2 maintenance chart- adhering to that is the best warranty.

Last edited by gidgaf; 04-05-2013 at 11:28 PM.
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#10 (permalink) Old 04-16-2013, 01:31 AM
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Quote:
Originally Posted by Sihnku View Post
Hello All,

It's about 9 months away until my warranty is up. Want to get a head start and do some research.

Does anyone know of a company that provides extended warranty that they would recommend?

Thanks in advance for your input.
1. Select an exclusionary warranty.
2. Ask your local service mgr at BMW dealers what warrs to avoid.
3. I believe these warrs are now called ins policies.
4. Find out how much your local dealer charges per hr. Ask warr company how much they reimburse per hour.
5. Keep in mind that reimbursement to dealer or to you does not occur unless part is physically broken. Warrs do not pay for noisy or worn parts. Actually, manufacts do not pay for worn parts either. Again, parts must physically break. If part is worn, warr company has an escape clause; they claim that you neglected to replace the part when it started giving you a problem.
6. Some warr cos do not cover an item if there is a TSB regarding the item.

Good luck
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