Extended Warranty and Maintenance Plan?

[JoeFromPA]

I think alot of people are ignoring or downplaying that deductible. Warranty's are actuarial and while we often hear about warranty work being done on major systems, MOST warranty claims are small stuff. A $250 deductible covers a significant portion of the cost on most claims for non-major systems. It could be driving down the price alot.

Now I agree that price seems very, very low for an M3. I'm just stressing that high deductibles can really lower prices.

[bdoooh]

Originally Posted by JoeFromPA

I think alot of people are ignoring or downplaying that deductible. Warranty's are actuarial and while we often hear about warranty work being done on major systems, MOST warranty claims are small stuff. A $250 deductible covers a significant portion of the cost on most claims for non-major systems. It could be driving down the price alot.

Now I agree that price seems very, very low for an M3. I'm just stressing that high deductibles can really lower prices.

Agreed. That's why I got it at that price point and didn't care that the deductible was $250. My main concern was covering my ass on bigger items since I do intend to keep the car 6-7 years... until whenever the next M3 comes out haha.

[modkrazy]

Originally Posted by bdoooh

Got the platinum 7yr/100k with a $250 deductible. Paid $2100.

From BMW? For an M? That seems ridiculously low, I haven't been able to find a price below $5K.

[bdoooh]

Proof as promised. $2184 was the amount. Included was the BMW platinum warranty brochure and everything.

[gago1101]

Originally Posted by bdoooh

Proof as promised. $2184 was the amount. Included was the BMW platinum warranty brochure and everything.

I think you got a 3rd party warranty. When I did my contract, I bought what I thought a 7 year / 100,000 mile warranty through BMW for $3000. After researching and calling them, I was told it was a 3rd party warranty contract. The equivalent from BMW itself costs $7,000. Needless to say, I was furious to had been misled and cancelled the contract.

Sorry to disappoint but Carefree Car Protection is your warranty company not BMW.

[04RC51]

That is NOT a BMW warranty homie!

This was the pricing on the E92 extended warranty and service. NO WAY IN HELL they will be cheaper for the F82.

[michaelw9]

I have been paying $34.50 every 6 months for Mechanical Breakdown Insurance from Geico on my E92 M3. That's $69 a year. You have to buy it when you first get your car and it's new. $69 x 4years = $276. There's a $250 deductible for each claim. It covers everything, there's no inclusion list. Best deal compared to these warranties by far, and the same coverage. These $5000+ warranties are a ripoff.

[04RC51]

Originally Posted by michaelw9

I have been paying $34.50 every 6 months for Mechanical Breakdown Insurance from Geico on my E92 M3. That's $69 a year. You have to buy it when you first get your car and it's new. $69 x 4years = $276. There's a $250 deductible for each claim. It covers everything, there's no inclusion list. Best deal compared to these warranties by far, and the same coverage. These $5000+ warranties are a ripoff.

Well, what has yours covered so far? How has your choice been above and beyond the extended warranty offered by BMW? From the look of it, you have been paying for something while your car has been covered by your original warranty or has your 2011 gone over the milage/time recently? Can you list what items it has replaced?

Of course, if your car never breaks down or has an issue, all extended warranties are ripoffs. But when your E92 spins a rod bearing with 3 weeks left on the extended warranty like mine, it's money well spent. They are all insurance. But unlike collision insurance, we all hope to never use them unless they are about to expire and then we hope everything goes wrong so we can get new vital parts replaced to prolong our car's life expectancy.

[angelc5]

I got mine from my dealer 84 months platinum coverage 0 deductible if covered repairs are performed at the selling dealer or $100 disapperaing deductible if the work is done somewhere else.

Service Contract price $3794.

I'm planning to keep the car

[4DRS55]

Originally Posted by angelc5

I got mine from my dealer 84 months platinum coverage 0 deductible if covered repairs are performed at the selling dealer or $100 disapperaing deductible if the work is done somewhere else.

Service Contract price $3794.

I'm planning to keep the car

That seems more like it.
Also seems like a good deal.
You said 84 months, but how many miles?

[bdoooh]

Originally Posted by 04RC51

That is NOT a BMW warranty homie!

This was the pricing on the E92 extended warranty and service. NO WAY IN HELL they will be cheaper for the F82.

Yeah that's pretty fucked up. It was sold to me as a BMW warranty. Upon Googling, it looks like a lot of dealers use this exact warranty.. Like are they the same as a BMW warranty? Why would they accompany this warranty with the same plan names & brochure??

I remember being given the same pricing structure & brochure when I leased my 135 a few years ago at a different BMW dealership.

[SteveSpy]

Originally Posted by bdoooh

Got the platinum 7yr/100k with a $250 deductible. Paid $2100.

That isn't for the warranty that is for the maintenance. The warranty for 7yr/100k costs well over 7k I don't think you paid $2,100. I paid $6,400 for 7yr/70k.

[angelc5]

Originally Posted by F10N55

That seems more like it.
Also seems like a good deal.
You said 84 months, but how many miles?

OR 80000 miles, Im not going to be driving the car everyday so the 84 months will probably come first. I only have 29,000 miles on my 2,000 Z3

[4DRS55]

Originally Posted by angelc5

OR 80000 miles, Im not going to be driving the car everyday so the 84 months will probably come first. I only have 29,000 miles on my 2,000 Z3

I think I'm going to pick the same terms.
Thanks, now I know what I should expect for cost.

[michaelw9]

Originally Posted by 04RC51

Well, what has yours covered so far? How has your choice been above and beyond the extended warranty offered by BMW? From the look of it, you have been paying for something while your car has been covered by your original warranty or has your 2011 gone over the milage/time recently? Can you list what items it has replaced?

Of course, if your car never breaks down or has an issue, all extended warranties are ripoffs. But when your E92 spins a rod bearing with 3 weeks left on the extended warranty like mine, it's money well spent. They are all insurance. But unlike collision insurance, we all hope to never use them unless they are about to expire and then we hope everything goes wrong so we can get new vital parts replaced to prolong our car's life expectancy.

It's over 50k miles, but it hasn't had anything go wrong yet. Keeping my fingers crossed. That's why it's just called insurance. I'm keeping the car in my family though, and the MBI is transferable. I'll be out a few hundred bucks for the piece of mind.

It's "above and beyond" the extended warranty from BMW in that it covers every thing that the BMW warranty does, except it's thousands of dollars cheaper. The only way it matches the $5000+ BMW warranties is if you were to make about 10-20 claims at $250 deductible each. I believe the BMW one has a $50 deductible. You can go to any repair shop you want, including the BMW dealer, that's not an issue. It really is the equivalent coverage for a cheaper price; the "catch" is that you have to keep your auto insurance coverage with them. The period is for 6 months at a time. It will allow you to renew the coverage for up to 100k miles/7 years.

It's no scam, there are many happy customers that also have got new engines, transmissions, etc. The formal policy in writing only excludes brake wear and tear items, fluids, tires, alignment, etc, maintenance. There is no long inclusion list, so everything on the car is covered. Electronics too, etc.

If you look at actuarial numbers, for the time period involved (6 months), they look at the risk of a claim vs the premium amount paid.
They are still making a profit, otherwise they wouldn't offer it.

If someone is more comfortable with the warranty that from BMW, that's fine, but they aren't getting any additional benefit in any way, besides a cheaper deductible. I'll take my chances that the deductible per visit won't add up to the actual cost of the BMW warranty.

[robertg]

Has anyone got a quote for MBI from Geico for the F80/F82? When I called ( I did have Geico before switching to USAA/Liberty Mutual) it was something like $120 every 6 months.

[bdoooh]

Originally Posted by SteveSpy

That isn't for the warranty that is for the maintenance. The warranty for 7yr/100k costs well over 7k I don't think you paid $2,100. I paid $6,400 for 7yr/70k.

Please see above. It is the platinum warranty but it's by another warranty company and not bmw direct.

From a bit of Googling it looks like a lot of BMW dealerships use this same warranty company. I'm assuming the BMW dealerships honor it and they have a good relationship. If that's the case than I don't really care that it's not straight from BMW.

[evanescent03]

any updates here? I got the 7yr/70k mile platinum extended service (he told me it's not a"warranty"). $2500 ish.

I hate paying for stuff like this but seems like a good call here especially on a major redesign car.

[4DRS55]

Like someone else posted the M3/M4 is indeed in the catogory F which is the second to the most expensive catogory G. For the platinum 7 yr 70k retails for about $5700 and I got mine for 5k.

[absoluteis350]

There seems to be a pretty huge difference in the prices being posted here.. Are we really all talking about the same thing? 7yr/70k platinum and the price differences quoted are 100% ??

Secondly- you guys are historically (on the average, not outliers) seriously spending $6k on M3 repairs on the 3 last years of vehicle life?! Obviously some people will spend that, but that shouldn't be the average. Damn, I kept my RS4 8 years and I don't think I've spent that on repairs that would have been covered by that warranty. I guess its a risk game and depends on risk tolerance, but I don't think on the average the repair costs would be that high.

[lugnutm4]

I searched for this and couldn't really find anything so excuse me if this is a repeat question.

Did anyone get the the Extended Platinum Warranty and if so for what price?

[Stevens21234]

6.5k