My BMW factory warranty is expiring soon. I have 38,000 miles on the car so should I be considering an extended warranty? Since I am a first time BMW owner what kind of reliability can I expect? Maybe I should just drive it and forget about it??? If I were to get an extended warranty can I get some recommendations as to where I should look? Thanks, Joe
Are you a gambling person? On my 2003 Mini it was not worth it. I needed a fuel pump after the factory warranty ran out. So I look at it as a $3200 fuel pump. I think a lot depends on the car. One person suggested setting the money aside what you would spend on an aftermarket warranty and draw on it for repairs.
The world of third party warranties can be problematic as some are a big rip off/ I call a scam. You need to make sure you read the contract well about what item they specifically cover. Just because you pay more for one does not mean it covers more. If you are handy most repairs can be done your self. Common issues with your vehicle are oil leaks from valve cover gasket, oil filter housing gasket, oil pan gasket. Transfer case can have internal failure. Keeping up on the maintenance does help keep repairs down.
AUL is a solid aftermarket warranty company. Kicked in when my Bimmer hit its 4 year warranty date. I still had low miles but the warranty paid for itself many times over with no deductible. Covered everything including suspension parts that needed replacing. My total warranty bills came up to over 13k. Extended AUL warranty only cost me $2600. 6 years 100k miles. As the salesman told me when I purchased my Bimmer! You never want to own a new one out of warranty.
The old question: extend warranty or not. Honestly, if you have a spare vehicle, I'd learn how to fix all these oil gasket or any other gasket replacement issues. They are somewhat painful in the beginning but once you have done one, you will gain the confidence to do it yourself for the others. YouTube and a few popular forums can help you along; especially, if they are common issues. Of course, you need time and endurance (physically and mentally) for this kind of thing but in the end, you will save $thousands over the years and your BMW will be in significantly better shape than relying ONLY on your dealer with hard cold $cash. Besides, when you dig in, you can replace parts long the way with either OEM or 3rd-party parts that have better materials. But, if you are the type who does not want to lift a finger to work on your cars, then I rest my case and point you to your dealership and your other mechanics.
