Five more years manufacture warranty on used M4 for $4000 worth it?

[psun786]

I just bought an used 2015 BMW M4 from a Lexus dealer (haven't pick it up yet). The car was a trade in with 14k miles on it. It test drives fine but again, I never drove a M3/M4 before so wouldn't know if it is different.

The dealer offered me Lexus Extra Care Platinum warranty for $4000, which adds 5 more years or 60k miles to the existing warranty (till 2023 or 74k miles). They stated it is a manufacture warranty. The warranty is transferable (one time) and refundable if not used in full(prorated). According to term, it covers everything except tire, pads and such. Also, there is no deductible.

My plan is to keep the car for around 2~3 years. If next owner want the warranty, I can transfer it to him or her. If not, I will cancel it before sale and get a partial refund.

But what is the likely hold something major broke on these cars? Also, will have the option to pay $2k extra for an optional warranty appealing to buyer 2~3 years down the road?

[Fast4d]

for 5yrs/60 miles on top of the bmw 4yr/50k?

that sounds like a good deal but you can use it at a BMW dealer?

[psun786]

Originally Posted by Fast4d

for 5yrs/60 miles on top of the bmw 4yr/50k?

that sounds like a good deal but you can use it at a BMW dealer?

The 5yrs/60k starts when I pickup the car. There is little less than 1 year left on BMW's warranty so I am basically getting 4 more years and 60k.

According to the Lexus dealer, which they also own a BMW dealer, it is a manufacture warranty which if anything goes wrong, they are going to source the job to their BMW dealer. But I don't know why they don't just CPO/sell this car through their BMW dealer. My guess is I literally bought this car within 24 hours of their acquisition. The dealer didn't even had time to take a photo for listing yet.

It is a tough choice because this warranty adds nearly 10% to the cost of the car. If I go without the extended warranty, I have a year to detect any major issue. I usually sent engine oil left over for analysis on other turbo cars I owned. But this is my first time owning DCT and I am not sure what to expect regarding durability.

How would having this warranty effects the resale value 2 years down the road? Would people willing to pay $2000 extra for 3 yrs / 40k miles warranty on 5 years old M4?

[xfactor]

I think you should from the fact that you're planning to keep the car for 3 years and the warranty will take it till 2023. This would be a major factor as a resale value to the potential buyer and you can place the cost of insurance into the sale price without out-pricing against competition.

If you're really unlucky the engine could blow. But for the most part these cars are solid. I'm on my third M car now and I haven't had any major issues other than the actuator problem in my e92. If you can afford it, do it....cause these cars are not cheap to maintain without warranty (for major items).

[BL1zZaRd]

Originally Posted by psun786

I just bought an used 2015 BMW M4 from a Lexus dealer (haven't pick it up yet). The car was a trade in with 14k miles on it. It test drives fine but again, I never drove a M3/M4 before so wouldn't know if it is different.

The dealer offered me Lexus Extra Care Platinum warranty for $4000, which adds 5 more years or 60k miles to the existing warranty (till 2023 or 74k miles). They stated it is a manufacture warranty. The warranty is transferable (one time) and refundable if not used in full(prorated). According to term, it covers everything except tire, pads and such. Also, there is no deductible.

My plan is to keep the car for around 2~3 years. If next owner want the warranty, I can transfer it to him or her. If not, I will cancel it before sale and get a partial refund.

But what is the likely hold something major broke on these cars? Also, will have the option to pay $2k extra for an optional warranty appealing to buyer 2~3 years down the road?

I'm buying used 2015 M3 with 16k mikes this week. Still under factory warranty but for only 3 more months. Can I buy that kind of warranty with Lexus even I bought my car somewhere else? (Private party)

[GOLFFRR]

obv if you decide to keep the car its a no brainer, if you are not sure then I would recommend you hold off till the end of your factory warranty is out. That way you dont tie up cash where you can use it somewhere else. just my 2 cents

if you do decide to buy a extended warranty I would highly recommend you contact Jimmy Martinez at our store. We blow those out for you forum member where most dealers put a lot of mark up on those. 805-482-8878

[psun786]

Originally Posted by BL1zZaRd

I'm buying used 2015 M3 with 16k mikes this week. Still under factory warranty but for only 3 more months. Can I buy that kind of warranty with Lexus even I bought my car somewhere else? (Private party)

Congrats on your purchase!

According to Lexus Platinum Extra Care Platinum warranty, "Used Vehicle Plans available through your Lexus dealer only at the time of used vehicle purchase or lease." So I don't think it is available to car sold outside their dealer.

But there are some third party warranty programs via credit union, insurance company which you might want to consider.

*You should check out the option mentioned in above post

[psun786]

Originally Posted by GOLFFRR

obv if you decide to keep the car its a no brainer, if you are not sure then I would recommend you hold off till the end of your factory warranty is out. That way you dont tie up cash where you can use it somewhere else. just my 2 cents

if you do decide to buy a extended warranty I would highly recommend you contact Jimmy Martinez at our store. We blow those out for you forum member where most dealers put a lot of mark up on those. 805-482-8878

Unfortunately, Lexus Extra Care Platinum can also be purchased at time of sale.

But I will definitely give Jimmy a call to see if they have anything comparable.

[GOLFFRR]

Originally Posted by psun786

Unfortunately, Lexus Extra Care Platinum can also be purchased at time of sale.

But I will definitely give Jimmy a call to see if they have anything comparable.

If the car is still under factory warranty then you can still purchase the BMW extended however I am not sure what the status of the car you bought is. I know there are third party warranties available (we dont sell those) but never heard of another car brand offering a warranty on another car brand? I can't comment on that sorry

but def those who are looking for BMW warranty def call Jim Martinez (Finance director) not Jimmy Bach (sales rep) first he will hook it up for forum members only. he is there m-f 10-4pm

[NickyC]

Wow, that's a fantastic deal considering what I've seen personally and what others on this board have posted in regards to the extended warranties for this car. I'd buy that before they change their minds!

Also, *marked* for next year when I'm looking into an extended warranty. Will give Mr. Jimmy a call.

[BluM4]

No offense to Jimmy but I don't think BMW extended warranty is good value. Too expensive to insure for two or three more years.

Read the fine print of the Lexus warranty. If it has an exception list that is very small, $4K for 4 additional years after the original expire is a good deal.

[psun786]

Originally Posted by BluM4

Read the fine print of the Lexus warranty. If it has an exception list that is very small, $4K for 4 additional years after the original expire is a good deal.

Pretty much everything except the following is included.

THESE ARE THE ITEMS NOT COVERED:
Accessory Drive Belts; Batteries; Body Panels; Brake
Linings, Pads and Shoes, Rotors and Drums; Bumpers;
Carpet; Chrome; Clutch Friction Disc and Pressure
Plate; Dash Cover and Pad; Door Fabric; Door Trim;
Filters; Fluids; Fuel Cell Air Compressor; Fuel Cell
Boost Converter; Fuel Cell Electronic Control Unit;
Fuel Cell Hydrogen Tanks; Fuel Cell Power Control
Unit; Fuel Cell Stack; Fuel Cell Vehicle Battery Pack;
Glass (including Windshields); Headliner; Heating
Hoses, Lines and Tubes; Hoses; Hybrid Vehicle Battery
Pack; Hybrid Vehicle Battery Plug Assembly; Hybrid
Vehicle Relay Assembly; Hybrid Vehicle Supply Battery
Assembly; Hydrogen Fueling Electronic Control Unit;
Hydrogen Fueling Electronic Control Unit; Interior and
Exterior Trim and Moldings (including but not limited
to: Ashtrays, Covers, Cup Holders and Vents); Lamps,
Light Assemblies/Housings and Light Bulbs; Nuts, Bolts,
Clips, Retainers and Fasteners; Paint; Rust and Corrosion
Damage; Seat Covers; Sheet Metals; Shiny Metals;
Spark Plugs; Structural Framework and Welds; Tires;
Vacuum Hoses, Lines and Tubes; Weather Stripping;
Wheels and Rims; Windshield Wiper Blades (Rubber
component); All interior and exterior cloth, leather and
stitching including convertible tops and/or vinyl tops
including but not limited to: any vibration, deterioration,
discoloration, disfigurement, warping, fading, staining,
stretching, ripping, punctures, tearing and/or scratches

[zamboni]

When I traded in my F30 and the BMW refund my extended warranty & maintenance since BMW won't allow the transfer to new owner.

[GOLFFRR]

Originally Posted by BluM4

No offense to Jimmy but I don't think BMW extended warranty is good value. Too expensive to insure for two or three more years.

no offense taken at all, everyone see's value differently. From what I have personally seen through the countless service appointments over the many years however, would HIGHLY recommend ext warranty to anyone over a car without a warranty for a variety of reason. But at the end of the day its up to the owner to calculate what is the best option for them.

[RickFLM4]

Unless something changed, Lexus dealers sell Fidelity warranties. Seems highly unlikely a Lexus Dealer could sell a BMW warranty unless you are actually buying the warranty from the BMW dealer. Since this Lexus dealership is part of a group that also owns a BMW dealership, I’d ask why they didn’t transfer the car to their BMW dealership, who could CPO it.

[psun786]

Originally Posted by RickFLM4

Unless something changed, Lexus dealers sell Fidelity warranties. Seems highly unlikely a Lexus Dealer could sell a BMW warranty unless you are actually buying the warranty from the BMW dealer. Since this Lexus dealership is part of a group that also owns a BMW dealership, I’d ask why they didn’t transfer the car to their BMW dealership, who could CPO it.

I will definitely ask them about why don't they CPO it when I pick up the car. The warranty they are selling is Lexus Extra Care Platinum offered by Lexus financial services. I don't think its from Fidelity Warranties. According to them, the car will be send to their BMW dealer for repair and paid by Lexus.

However, I will make sure it says the same on the warranty contract when I sign it.

[NickyC]

Biggest problem I'm going to have on deciding to get an extended warranty is not being able to tune the car. I really, really want those burbles! If I get the extended warranty, tuning is out of the question still. Ugh!

[RickFLM4]

Originally Posted by psun786

I will definitely ask them about why don't they CPO it when I pick up the car. The warranty they are selling is Lexus Extra Care Platinum offered by Lexus financial services. I don't think its from Fidelity Warranties. According to them, the car will be send to their BMW dealer for repair and paid by Lexus.

However, I will make sure it says the same on the warranty contract when I sign it.

Fidelity used to underwrite the Lexus Branded warranties but you don’t see that until you get the contract. Maybe they changed it now and Lexus / Toyota underwrites them all themselves.

Seems very unusual for Lexus to underwrite a warranty on a BMW. Sounds fishy to me.

[BluM4]

Originally Posted by RickFLM4

Fidelity used to underwrite the Lexus Branded warranties but you don’t see that until you get the contract. Maybe they changed it now and Lexus / Toyota underwrites them all themselves.

Seems very unusual for Lexus to underwrite a warranty on a BMW. Sounds fishy to me.

I had personal experience that extended warranty from GM and Chrysler (no longer) both cover Mercedes. I used to take my cars to the MB dealers without any issue.

If the Lexus extended warranty is being underwritten by Fidelity, $4K for 5 years is a very good price. Btw, both my Porsche and MB SA recommend Fidelity.

[psun786]

UPDATE: I picked up the car today without getting Lexus Extra Care Platinum Warranty. Instead, I opted for the one offered by my credit union. Their price is $1500 for 3 yrs/ 36k miles + $100 for electronics. Thank you for all your help!

[Everling]

Originally Posted by psun786

UPDATE: I picked up the car today without getting Lexus Extra Care Platinum Warranty. Instead, I opted for the one offered by my credit union. Their price is $1500 for 3 yrs/ 36k miles + $100 for electronics. Thank you for all your help!

who did you go through?

[TT3 iN NyC]

Originally Posted by psun786

UPDATE: I picked up the car today without getting Lexus Extra Care Platinum Warranty. Instead, I opted for the one offered by my credit union. Their price is $1500 for 3 yrs/ 36k miles + $100 for electronics. Thank you for all your help!

Which credit union did you go with?