Does anyone have a recommendation regarding purchasing extended warranty (factory or aftermarket)? I have a 2009 535I with 42,000 miles w/o an extended warranty at original purchase and now I'm getting some cold feet as my new car warranty is nearing expiration. Mike Miller keeps saying his recommendation is not to own a late model BMW without a warranty due to the high cost of repairs and possible failure points (not his exact words). Are there third party warranty companies that are reliable or is BMW (probably more expensive) the better way to go......?
Perform your due dilligence and be certain that your peace of mind will be satisfied. I would stay with BMW for this extended warranty rather than look elsewhere even if it costs more. Remember, you get what you pay for. I took a look at the www.bmwusa.com website and liked what I saw although there was no information on cost. It looks like you qualify for all of the options with an original purchased 2009 535i. You need to determine if you will retain this vehicle after the limited warranty expires. You also need to note that the extended warranty choices do not cover the entire vehicle but do cover the most expensive stuff to fix. I agree with Mike Miller when he recommends "old school" maintenance. This approach should give you peace of mind but if you need more and can afford to spend more to extend the warranty and intend to retain the vehicle for the length of the extended warranty then by all means do so. BMW ownership is expensive. Note I did not state "can be expensive." If anything breaks, including minor stuff, it will relieve your wallet of some hard earned money. Personally, I like to keep my vehicles in very good running order (think nothing broken) but I've decided for the first time in my life to live with a crippled sunroof in my 2004 M3 rather than pay the $700 to fix it. Living on a fixed income sucks. I hope this helps. Happy motoring and try not to forget BMW makes some of the best driving vehicles ever manufactured.
Timing is everything I would not purchase a BMW now without an extended "maintenance" warranty AND tire insurance. The straight extended warranty that you are referring to covers large items like engine and transmissions, as I recall. That one is a toss up if you don't think you'll keep the car. As an aside, I currently have a 17 year old BMW in pristine condition and am saving up for the new M5 or M1 myself. Mainly because they don't have run flats and the resale value is higher. Currently the maintenance options are better for new BMW's. BMW has been turning into a lease and toss in the crapper car. Nobody can afford the maintenance. And the depreciation on the car is so drastic that you can't resell it and recoupe anything close to what you bought it for. So it looks like they now have 6 years/100,000 mile "maintenance" warranties and tire insurance to augment the anemic 100,000 extended warranty(which only covers engine/transmission components). This is excellent news for new car buyers. Mainly because they won't feel like they're getting screwed for buying the car and keeping it, instead of leasing and trashing it. As far as the extended warranty goes, the engine's are a rock if you change the oil at 7500 miles. The transmission is the same if you change the fluid every 50k miles. They don't break if you use your head and realize that oil needs to be replaced. Everything else that's rubber in these cars goes **** up, which is where the maintenance warranty comes in. And where the extended warranty previously failed miserably. So in summary. Get rid of the car. Get a new one with extended maintenance or lease. The standard extended warranty won't save you unless it's an extended maintenance warranty.
Please HELP ME. NEED WArranty NOW I really need help, I need to purchase a extended warranty for a 2005 745 Li... don't laugh I have shopped around, my mileage is 53,456. I was going with AAAuto for 3780 4 year/ up to 100,000, with a down payment of 10% but I read alot of bad complaints about them like them not honoring their claims. I also narrowed it down to this other company automative for 2099 reallly good price but the exculsion was they didnt honor the electric seats, I guess thats why the price was so good, they were A rated by the BBB, rental car, 24 hour towing, trip interuption, I just didnt like the fact the seats were not part of the deal... O yeah...5 year/100,000 miles total of 153,456 exp 8/2/2016. Can somebody help me please??????? THANKS
Personally speaking... Extended warranties are simply a gamble. We had an extended warranty on our 2003 Mini Cooper S. Only thing it needed replaced during that period was a fuel pump. Ended up being a $+3000 fuel pump they way I looked at it. If you've owned the car from new, you know it's history. If I had to do it again I would probably would put the money that I'd spend towards the warranty and stick it in the bank. Then draw out of the bank as repairs are necessary. Sure, you could have a catastrophic failure totaling more than what you would have paid for your extended warranty. More likely, not. Talk to other owners of your vehicle.
Maybe I can give some insight. Last week, I bought my first 5 series car, it's a 2008 CPO 535i with 53k, they offered me the extended warranty and protection plan and I bought it. Now my "new to me" 5 series is covered until 2014 or 100,000 miles. The plan costs me 2400 bucks, but break it down like this, my local dealer gave me some numbers on services: Avg cost on oil change: 200 - 250 Avg cost on brake job: 1500 (my iDrive is reporting that I will need brakes in 18,000 miles) So by the time the warranty runs out, I will have gotten my money back on normal routine items alone...
$1500 at the stealer is about right for a brake job. $200 -$250 for an oil change is highway robbery. An oil change on your car at the stealer should be no more than $150.
Are you sure your extended warranty and protection plan includes maintenance? Party A bought an extended warranty for her 335i, but still pays for oil changes and other disposables, and I just paid for an oil swap in my CPO roadster (the CPO warranty runs out in 2012). I ran the numbers on an extended warranty, but it would only pay off if I could get to Service II before the two years run out. So I'll pass, save the money for the Service II work and have it done by an independent. Hell, I may even watch and decide whether I want to adjust my own S54 valve shims.
Hello All, I am very new to this form. At last i have made it. Now i am proud owner of 2009 CPO 528i with NAVI. This car has 35k on it and dealer offered me maintenance of 6yr/100k for $2750, and $1250 for Tire protection. I was able to give them few facts and together they agreed for $3000. Now my qustion(s) 1. With one more yr of warranty/maintenance remaining do I need to get 6yr/100k for $2000? 2. Does these tires really wear out and would they cost $1000 for 4yr span? Experts like you pls guide. I don't think i will reach near 100k in 3 yrs from now. I am yet to get my car out in a week from the dealer and got to decide on to go with Maintenance/Tire protection or not. Thanks in advance
Again, all insurance is a gamble. If you get to Service II and it's covered by your maintenance plan, it probably makes sense. And yes, it's easy to run past $1000 for tires; I paid $1400 for Michelins for the roadster---and that's with a discount. Just the tires, not mounting and balancing.
Yes, There are mechanical failure warranties that pay for all parts and labor but none of the "maintenance items" the purchase/lease covered for the first 4 years. I am at the end of my 4 year/60K warranty on my 2008 528i. I bought the car after my lease expired a year ago. I am purchasing the best aftermarket warranty I've researched after speaking to one of my mechanics who services all of them. It's the AAA Diamond Coverage contract good for the next 4 years or up to 60,000 on the speedo. The coverage is for 18 different mechanical engine and auxiliary parts with labor and zero deductible. It really was a no brainer. I can have the car serviced anywhere, BMW or local. This particular insurance contract was $2800. I declined the BMW CPO warranty at $2500 when I bought the car off lease because it only started from the day the car was put into service. The net warranty was only for the next 2 years + mileage and NOT the 6 years/100,000 BMW claimed. you've already used the factory warranty up. Sort of like medical co-insurance. As far as the "maintenance warranty" BMW wanted to sell you and I, it's a sucker's bet with $2200 paid upfront for only 2 years coverage. Since I only drive 5,000 miles a year, if I need oil changes, tires, and brakes I'll pay for it later. Normal maintenance items were always born by the owner. That being said, find yourself a good local mechanic that uses BMW parts and you won't have to pay $ 1800 for a full brake job or $ 128 for a synthetic oil change. Remember, all these documents are are insurance contracts. if you gamble and don't use them, the company has made money on you. If you need the peace of mind, they're excellent and pay off. So as Clint Eastwood asked in Dirty Harry, "Are you feeling lucky?"
