extended warranty

[xfactor]

My beauty is now coming out of warranty soon and BMW asked if I want to put on extended warranty on her. I have about 30K on it. They're giving me 50K more for 3 more years for $4k (After negotiation)?

1. I don't think I need the 50K, since I'm planning on keeping the car for another year or so and maybe put another 10k/year.

2. 4K seems too much for these solid cars even with turbo.

Thinking I might ask them for a price for 30K more as I'm sure it'll be good to have during resale.

thoughts?
thx!

[uncle ben]

I think that having additional warranty will be at least worth a couple grand to the next owner. It tipped the scales for me when I was deciding between two cars. One with 1yr left, the other with the extended 4yrs.

[knickerbocker]

I'm in a similar situation with my warranty ending end of the year. I think a big thing to consider is when you plan on selling the car.

1. If you're selling within the extended warranty period, like the previous poster said that might give your car a couple k premium over other cars or at the very least be the tiebreaker for a buyer to choose your car.

2. If you're planning to keep the car beyond the extended warranty period then obviously this doesn't matter anymore as all cars your age will be out of warranty. Given the reliability info of this platform so far I'm leaning towards forgoing the warranty if I plan to keep it longer than the 3 years. I'm actually considering spending that 4k-ish to take care of the remaining weak points of these cars (crank hub, intercooler, charge pipes). The logic being that beyond the extended warranty period, these parts will continue to provide peace of mind and be more valuable to potential buyers (similar to e92s that have had the rod bearings done).

The hard part is predicting when you're going to sell the car.

[kss]

Originally Posted by xfactor

My beauty is now coming out of warranty soon and BMW asked if I want to put on extended warranty on her. I have about 30K on it. They're giving me 50K more for 3 more years for $4k (After negotiation)?

1. I don't think I need the 50K, since I'm planning on keeping the car for another year or so and maybe put another 10k/year.

2. 4K seems too much for these solid cars even with turbo.

Thinking I might ask them for a price for 30K more as I'm sure it'll be good to have during resale.

thoughts?
thx!

Is it the regular BMW extended warranty? What year is yours and how mow many KM’s do you have? So they include servicing during the extended warranty period (ie oil changes, spark plugs, etc)?
I’m in a similar boat. My warranty ends on Jan 1, 2022. I haven’t decided if I’m going to keep it. I’ve got 33500km. And was debating adding 2 or 3 years and having the warranty to either 100k km or 120k km. my mileage is really low because of being sick after first year and Covid. I imagine mileage will be higher IF and when things get back to normal conditions.

[FatHulk]

I added two years for just under $3795 so that sounds like a great deal, damnit! If you're planning on selling privately then the extra warranty would 100% help. If you're planning on trading it in don't think there's value with that as the warranty would not apply to the next owner from the dealer. At least that's what they told me.

[325iExecutive]

I am in the same boat. The warranty expires end of next month. I am debating whether to purchase extended warranty or not. The need for extended warranty is strictly from the perspective on whether I will be selling in the near term or not.

[xfactor]

Thanks everyone for chiming in. I'm most likely going to sell the car next year, and then the next question is private or trade in.

I'm looking at Porsche as I'm done with BMW for a while. So, I think it will be a trade in at this moment.

The deal was very good as I'm doing this with one of my friend. It's via my dealer at Parkview and the accounts girl there is a sweetheart.

So, from the sounds of it, I'll probably get a
a. 3 years 30K warranty and see if I can get that closer to 3k or less.
b. Trade in next year where the warranty would be moot.

Have some 'insurance' in case I guess.
thx!

[FatHulk]

Originally Posted by xfactor

Thanks everyone for chiming in. I'm most likely going to sell the car next year, and then the next question is private or trade in.

I'm looking at Porsche as I'm done with BMW for a while. So, I think it will be a trade in at this moment.

The deal was very good as I'm doing this with one of my friend. It's via my dealer at Parkview and the accounts girl there is a sweetheart.

So, from the sounds of it, I'll probably get a
a. 3 years 30K warranty and see if I can get that closer to 3k or less.
b. Trade in next year where the warranty would be moot.

Have some 'insurance' in case I guess.
thx!

Nice what P car you planning on getting? I'll probably do the same at some point.

[xfactor]

Originally Posted by FatHulk

Nice what P car you planning on getting? I'll probably do the same at some point.

911 turbo S is the plan...let's see. What you thinking?

[FatHulk]

Originally Posted by xfactor

911 turbo S is the plan...let's see. What you thinking?

That's the perfect daily probably get a c2s, would like the 50th anniversary but probably out of my range

[Parabolica]

I'm planning to grab an extended warranty as well as my current warranty is up in October.

Does it make sense to convince one of these dealers for a group buy since we have a few interested here?

I've already moved on to a Porsche product but plan to keep this M3 for maybe another year.

[Taylorsherk]

Hey parabolic!!
I’d be interested in a possible warranty extension. Can you let me know the details.

[325iExecutive]

My warranty is expiring June 7th and I am speaking with the dealership for 3 year extension. I have to make the purchase soon. If you have already started discussions for your respective extension, please DM me and perhaps we can execute a group buy.

There is always strength in numbers!!

[Parabolica]

I was offered $500 off msrp for a 2 or 3 year extended warranty. I haven't asked about a group buy but I imagine we should be able to do better than that.

Let me know who's interested.

[325iExecutive]

I got the same.

I am in. I have to make the purchase before the end of next week.

[MeowPower]

As an individual that was a finance manager in a dealership, and have purchased an aftermarket warranty for all of my performance streetcars. I would love to give you my response as I'm personally looking for a pre-owned F8X but given the crank hub and my rough driving, I'm ensuring to price a warranty into my purchase.

To provide you with the absolute best response can you email your contact and confirm the following questions?

1. Is this warranty an actual BMW product or is this provided via 3rd party?

- a factory extended warranty is far more valuable than a 3rd party option. Additionally, the markup on a BMW warranty will be FAR (I mean like REAL FAR) less than that of a 3rd party. Factory plans have significantly less markup.

***The same goes for Lease Wear & Tear. There's literally $150-250 in those coverages. If you or anyone you know leases their cars. ALWAYS GET THIS COVERAGE***

- If the warranty is through a 3rd party, subtract $2,500 and that's usually the cost. Anything above that can be negotiated.

- This doesn't mean the 3rd party warranty is crap. When it comes to warranties, the dealer you have performing the work is what matters. If you have a good relationship they will absolutely take care of you and ensure the warranty pays out.

2. If I choose to sell or trade my vehicle in before the expiration date of my car what are the options available? I would ask the following questions related to this:

- I've heard that in the event of myself not using the warranty and I move into another car that companies will provide a partial refund. (from my experience it's usually $1,000 as a cash refund or $2,000 as a credit towards an extended warranty on your next car)

- If I sell the car privately and the next buyer is interested in taking over the warranty is this a free service or are there mandatory transfer fees


3. Are there limitations on the coverage? I've seen extended warranties that are limited to a certain Maximum Dollar total in one visit.

- This means that sometimes these warranties have a max cap of $3,5,10k. This means if you bring the unit in for warranty work, that visit and associated damage will have a max coverage of the policy limit. So if you have a limit of $5k and you end up having the crank hub fail to result in a total engine failure, anything above your $5k coverage would come out of your own pocket.

4. Is there a deductible? If so what are the options available and how does it affect the cost?

5. Are loaner or rental cars included?

6. Will OEM parts be used?

More questions can be asked, but these are what I find to be the most valuable variables that will greatly affect your experience should you require to rely on the policy.

All the best!

[xfactor]

Thanks guys, I got an appointment on Wednesday. I'll see what's the best price I can get and let you guys know. I'll let her know that there might be another one or two that's interested and see what we can get.

stay tuned...

[kss]

I’m assuming that you can only by the extended warranty from a local dealer?

[MeowPower]

Originally Posted by kss

I’m assuming that you can only buy the extended warranty from a local dealer?

Not at all!

While this used to be the only way to do it as warranty companies didn't want to piss off dealerships given the business office is the last part a dealership can make big bank.

Now it's possible to find online providers though!

[325iExecutive]

Originally Posted by MeowPower

As an individual that was a finance manager in a dealership, and have purchased an aftermarket warranty for all of my performance streetcars. I would love to give you my response as I'm personally looking for a pre-owned F8X but given the crank hub and my rough driving, I'm ensuring to price a warranty into my purchase.

To provide you with the absolute best response can you email your contact and confirm the following questions?

1. Is this warranty an actual BMW product or is this provided via 3rd party?

- a factory extended warranty is far more valuable than a 3rd party option. Additionally, the markup on a BMW warranty will be FAR (I mean like REAL FAR) less than that of a 3rd party. Factory plans have significantly less markup.

***The same goes for Lease Wear & Tear. There's literally $150-250 in those coverages. If you or anyone you know leases their cars. ALWAYS GET THIS COVERAGE***

- If the warranty is through a 3rd party, subtract $2,500 and that's usually the cost. Anything above that can be negotiated.

- This doesn't mean the 3rd party warranty is crap. When it comes to warranties, the dealer you have performing the work is what matters. If you have a good relationship they will absolutely take care of you and ensure the warranty pays out.

2. If I choose to sell or trade my vehicle in before the expiration date of my car what are the options available? I would ask the following questions related to this:

- I've heard that in the event of myself not using the warranty and I move into another car that companies will provide a partial refund. (from my experience it's usually $1,000 as a cash refund or $2,000 as a credit towards an extended warranty on your next car)

- If I sell the car privately and the next buyer is interested in taking over the warranty is this a free service or are there mandatory transfer fees


3. Are there limitations on the coverage? I've seen extended warranties that are limited to a certain Maximum Dollar total in one visit.

- This means that sometimes these warranties have a max cap of $3,5,10k. This means if you bring the unit in for warranty work, that visit and associated damage will have a max coverage of the policy limit. So if you have a limit of $5k and you end up having the crank hub fail to result in a total engine failure, anything above your $5k coverage would come out of your own pocket.

4. Is there a deductible? If so what are the options available and how does it affect the cost?

5. Are loaner or rental cars included?

6. Will OEM parts be used?

More questions can be asked, but these are what I find to be the most valuable variables that will greatly affect your experience should you require to rely on the policy.

All the best!

BMW warranty from manufacturer. It is exactly the same as the 4 year warranty on purchase. No deductible. Loaners and rental are dealership service and not warranty related. These at present not being offered.

The warranty is transferable but buyer has to pay $70 to enable the transfer.

[xfactor]

Just to close off the topic, I got a great deal. If anyone is interested, PM me for deets.