Extended Warranty and Maintenance Plan?

[gatorfast]

Originally Posted by InterlagosBM3

My E92 that I sold with under 32k miles didn't need any major work. Only standard oil changes & Maintenance. THough the AC was going out... other than that, no i major issues. Thanks for your feedback!

32k Miles is nothing. If your cars are that low mileage I would hold off on the extended warranty. But if you plan to drive it until well north of 50k miles then the extended warranty is likely a good thing to have, although I would recommend the powertrain + over the platinum.

[pmooiweer]

Check with your insurance company before buying. GEICO offers a “mechanical breakdown service” for about $60 per year, which is comparable to a manufacturer extended warranty. You can only enroll cars that are less than 12 months old and have less than 15,000 miles.

According to GEICO the premium stays at the same level for as long as you stay enrolled. If your insurance company doesn’t offer something like this it may be worth switching to GEICO; the $5,000 you save should more than cover any potential cost difference...

[marvinp]

Originally Posted by pmooiweer

Check with your insurance company before buying. GEICO offers a “mechanical breakdown service” for about $60 per year, which is comparable to a manufacturer extended warranty. You can only enroll cars that are less than 12 months old and have less than 15,000 miles.

According to GEICO the premium stays at the same level for as long as you stay enrolled. If your insurance company doesn’t offer something like this it may be worth switching to GEICO; the $5,000 you save should more than cover any potential cost difference...

Got the same on my M3, but it's ~$60 every 6 months and covers mechanical breakdowns for up 7 years or 100,000 miles.

GEICO's mechanical breakdown insurance covers:

• Engine
• Steering
• Air Conditioning
• Transmission
• Cooling
• Brakes
• Drive Axle
• Suspension
• Electrical

My wife's car has the same coverage and it saved us money on a cracked windshield which was replaced with an OEM windshield (they told me normally they replace with non-OEM windshields).

[SanchoDivine]

I bought the BMW platinum warranty for my e46 M3 which I kept 100% stock and dealer maintained but that warrantly 9 out of 10 times refused to pay for anything. If I can remember correctly, it covered an alternator replacement and that was about it.

Like an idiot I had that warranty added to my finance but this time on an F80 that I have decked out since then so I'm sure the warranty will be a 10/10 won't pay for shit.

I should have looked whether a legit car warranty company exist and it seems Geico might be pretty good but I'm not sure if you have to have insurance with them which would not be my preference because USAA does a much better job in that space.

[///My5UV]

Originally Posted by SanchoDivine

I bought the BMW platinum warranty for my e46 M3 which I kept 100% stock and dealer maintained but that warrantly 9 out of 10 times refused to pay for anything. If I can remember correctly, it covered an alternator replacement and that was about it.

If you recall, what were some things they didn’t cover?

[aerostar]

Originally Posted by marvinp

Got the same on my M3, but it's ~$60 every 6 months and covers mechanical breakdowns for up 7 years or 100,000 miles.

GEICO's mechanical breakdown insurance covers:

• Engine
• Steering
• Air Conditioning
• Transmission
• Cooling
• Brakes
• Drive Axle
• Suspension
• Electrical

My wife's car has the same coverage and it saved us money on a cracked windshield which was replaced with an OEM windshield (they told me normally they replace with non-OEM windshields).

Be careful with the Geico MBI.

The rate goes up every time you renew. It's not going to be $60 in a year or two. It will rise significantly. A lot of people end up canceling it and that's where Geico makes their money back since during factory warranty it does nothing.

[SanchoDivine]

Originally Posted by aerostar

Be careful with the Geico MBI.

The rate goes up every time you renew. It's not going to be $60 in a year or two. It will rise significantly. A lot of people end up canceling it and that's where Geico makes their money back since during factory warranty it does nothing.

Wow that is some really good info to take into consideration. Interesting how they didnt mention that in their advertisement on one of their websites that I read for it. I knew there would be a gotcha somewhere. Thanks!

[SanchoDivine]

Originally Posted by ///My5UV

If you recall, what were some things they didn’t cover?

It's hard to remember because it was a while back and was mostly stuff that cost me under a thousand bucks to fix. Some examples that I can think of was a bushing or sleeve or something that broke on my manual gearshift that made the stick all floppy and not really work. And then there was a bushing or bearing on a wheel(s) which caused the steering wheel to kind of have a life of it's own where the car would drive straight then all of a sudden I had to have the wheel turned slightly to keep the car moving straight. Scary when that would happen in the middle of a curve on a fast moving highway! Then there was a thermostat, water pump and a hose, and then a fan clutch, etc. It seemed they claimed everything was wear and tear items so I, for the most part, would just pay to have the dealership fix them or I would sometimes buy the parts and replace them myself like the ignitors (not the bulbs but a part that worked in conjunction with the ballist) in my HID lights that caused them to suddenly go out and only turn back on after turning the lights on and off a few times.

I did actually get them to replace the bushing that caused the scary steering but that only took place after calling them out about the many other things that I had to pay for out of pocket because at those points in time I didn't feel like arguing with them but at this point I was really fed up about feeling like they ripped me off with that warranty.

Right after my warranty expired my starter needed to be replaced and then shortly after the syncros in my manual transmission started acting up (my fault because I was popping the car in gear to start it) so I sold the car because it is impossible to get those kind of parts for that car

I only regret trading that car in for my F80 because I miss not having car payments but man does it feel good to no longer have those kind of aging car issues!

[SanchoDivine]

///My5UV I am not really saying dont buy it as I did because of the supposed peace of mind but I do encourage some investigation/research on other alternatives and making sure your expectations of them being happy to honor any warranty claims are not very high. It's better to expect the worst and hope for the best as well as it is better to have something and not need it than to need something and not have it (assuming they honor their part of the deal when you need them to).

I'm just not very optimistic of them because of my past experience and because I have done some aftermarket changes on this car.

[Aaaaaaaaa]

Excuse the ignorance but can you only buy the BMW extended warranty when the car is new or can you wait until the factory warranty is almost about to expire.

[gatorfast]

Originally Posted by pheerlx

Excuse the ignorance but can you only buy the BMW extended warranty when the car is new or can you wait until the factory warranty is almost about to expire.

You can buy it at any time as long as it is still under the original warranty period. I would also suggest reaching out to some forum sponsors for a price as they will likely offer a bigger discount than your local dealer would.

[SD ///M4]

Originally Posted by kepler

Extended car warranty = sucker's bet.

Originally Posted by pheerlx

Excuse the ignorance but can you only buy the BMW extended warranty when the car is new or can you wait until the factory warranty is almost about to expire.

We bought the extended warranty for my wife's 2011 335is in January 2015, about 4-5 months before the factory warranty expired.

Last year her car was flatbedded to the dealer twice in four months, the first time for a failed water pump, the second time, at 72,000 miles, for "Drive train malfunction" which turned out to be a spun main bearing. They ended up replacing the engine with a long block. We paid the $50 deductible for the water pump replacement, but, as a courtesy, the dealer waived the $50 deductible for the engine replacement.

Guess I won the "sucker's (sic) bet".

[mjposner]

"Extended car warranty = sucker's bet." This is partially true. On average the you will get less in return for your warranty purchase. Otherwise the insurance company (and this is insurance) would go out of business. Car insurance is the same so if your the type of person that likes to take risks (and can afford a catastrophe like a new engine, which when my E93 got flood damaged was $34k installed, covered by Geico as a write-off instead of fixing)

Also, be careful what the dealer is selling, when I did this the dealer offered two plans, so you may not be getting a true BMW sponsored plan.

I had a 2004 Auidi with CarMax/Assurant Warranty. Cost $1800, spent $15,500 for repairs over 1.5 years including new tranny.

That said, some BMW dealerrs do discount, and some states have no sales tax. I saved $580 by buying from a dealewr in Maryland versus my home state of Florida.

Also, I just had my valve cover gaskets replaced under warranty, no charge, no deductible. However, this is my dd with 54k miles and I just worry less with the coverage (and assuming this is the only repair and it would have cost me $2k I am out $3k but still satisfied.

[InterlagosBM3]

like others have mentioned, I'll wait till 3.5 years or so before my warranty expires and decided before the 4 years is up. No reason to pay upfront.

[TXSoxFan]

Originally Posted by gatorfast

You can buy it at any time as long as it is still under the original warranty period. I would also suggest reaching out to some forum sponsors for a price as they will likely offer a bigger discount than your local dealer would.

I know that a while back BMW had stopped allowing dealers to write warranties unless you were physically present at the dealership (BMWNA warranties, not 3rd party). Not sure if this has changed since then, but something to look in to.

[SpaceCowboy]

Originally Posted by teefive

Check out Geico MBI. That's what I have, incredibly cheap and good coverage.

Just an FYI, you must be the first owner of your car to be eligible for Geico MBI coverage.

[peppylepeu]

Considering buying my F80 off lease. What are you guys seeing in terms of extended warranty/maintenance plans?

Rep told me 75K miles/7 years for $6,959
100,000 maintenance plan for $3,995

Maint plan seems like a good deal, warranty worth it? Car does about 12K miles/year tops.

[DrunkTyrion]

Originally Posted by peppylepeu

Considering buying my F80 off lease. What are you guys seeing in terms of extended warranty/maintenance plans?

Rep told me 75K miles/7 years for $6,959
100,000 maintenance plan for $3,995

Maint plan seems like a good deal, warranty worth it? Car does about 12K miles/year tops.

I can't say in terms of anything else you've asked but for 100k I only paid 2000 for it

[peppylepeu]

Originally Posted by DrunkTyrion

I can't say in terms of anything else you've asked but for 100k I only paid 2000 for it

The maintenance plan?

[DrunkTyrion]

Originally Posted by peppylepeu

The maintenance plan?

Mait and warranty was extended for 2k till 100k mileage. I got it CPO with 7k mileage on it. Good till 2023-24 I forgot which bought it recently ish....

[peppylepeu]

Originally Posted by DrunkTyrion

Mait and warranty was extended for 2k till 100k mileage. I got it CPO with 7k mileage on it. Good till 2023-24 I forgot which bought it recently ish....

Oh so you bought a CPO car? Yeah, thats a bit different.

That's why I am torn, may be better to buy a CPO car at these numbers he is giving me!

[RickFLM4]

A dealer can CPO your own car off lease, I believe. I wouldn't pay either of those numbers for warranty / maintenance.