Not too familiar with aftermarket warranty companies but search the net. Be sure that you can bring the car to any shop and that they pay the shop UP FRONT after repairs are made. Get the fine print on what is covered and what isn't. Ask questions such as, "If the water pump blows (assuming its covered) and I crack the cylinder head, will that be covered as well with all gaskets included"?
For aftermarket extended warranty companies I recommend GE, Mercury, and/or Prizm. Try to get the top of the line package or 2nd to the highest. Of course this will depend on how many miles you'll be doing. Almost all extended warranty companies will not cover any hoses made out of rubber and these include power steering hoses and possibly radiator hoses. Some companies don't even cover oil leaks. Also, are you asking about aftermarket or BMW CPO extended warranty?
There is nothing wrong with extended warranties themselves but there are good and bad carriers like any insurance program. My shop does not accept any of them unless the customer pays us first and they deal with reimbursement. I did that because just for the fact that some are easy to work with and some are not. However all that said extended warranties are nothing more than insurance and thus they are obviously not worth the money you spend or the carriers themselves wouldn't be making profits. If it were me and I knew I had a good professionally inspected E46 M3 to start with, I'd take the $1500-3000 this is going to cost you and put it in a emergency repairs bank account. At the end of the period I think you find it will still be there for your next car.
Thanks, for the information. Just had a guy from Great American Insurance Co. offer a really good sounding extended warranty, but he was real high pressure, and wanted the deposit tonight, on my credit card before I saw any of the paper work. That does not agree with my business ethics, so I passed. Has anyone heard of this Company? Thanks, m31947
Haven't heard from them. The way the "phone representative" acted, I would say classic shark. You would need to see the fine print on whats covered. He will tell you the sun and the moon but won't mention about gaskets being covered, them paying the shop up front, etc... If he/she/they can't fax/mail you the contract first, then I would pass. Well since you did pass on the offer, you weren't going to be taken for a sucker. I agree with EuroWerkz.
extended warranty (post-CPO) My CPO warranty expires in around 5 weeks on my '04 M3 with 39,000 miles on it. I've had little experience with aftermarket warranties, although years ago I had one insurer go belly up (which the dealer would not cover, even though they sold me the "rock solid" policy). I had one of my HPDE students blow up his '05 330i engine earlier this year in spectacular fashion. He had come down to Portland, OR from Vancouver, BC and had his car under warranty by First Canadian. As his car was an SMG, he could not have done anything to zing the motor (though I did comment that in Green run group, he probably didn't need to shift every time at redline). Anyway, First Canadian approved a BMW replacement engine installed by Rasmussen BMW ... no hassle to dealer or owner! Actually, I should double check to make sure Rasmussen got paid. I don't know if First Canadian sells policies in the US, but when a dealer's service dept raves about an extended warranty company, it got my attention. I wrote First Canadian an e-mail (to an info@___ address) and heard ... nothing. So, either they don't sell policies in the US and don't bother to send a 2 word reply e-mail ... or no one is responding to info@ inquiries. Anyone here dealt with First Canadian insurance? Thanks, Jim
