Extended Warranty: Worth It?

[alphagamma]

I'm a bit conflicted. Now I am considering whether to actually pull the trigger on the extended warranty group buy that Papethova has graciously put together. I'm having second thoughts and want to know if people on this forum think the extended warranty is worth it based on their experiences or their intuition. I know that Consumer Reports take a stance that extended warranty is more of a gamble rather than an insurance, and after doing polling and some statistical crunching, found the cost/benefit not there.

[pinmagic]

I think you shouldn't be purchasing it to cover a bunch of relatively minor repairs, cause you'll never break even, or you'll only come out slightly ahead. What you should be purchasing it for is the peace of mind that, if there's a catastrophic failure of the car (say, the engine falls out), or if it turns out to be a real lemon, the car won't bankrupt you.

My concerns are:

- Because it only covers listed systems/parts, and I'm not tech-savvy enough to know what's excluded, I don't really know whether this is good coverage or not. For all I know, there are major parts/systems not covered. I'd be pissed to buy this, and then find that whatever breaks down isn't listed.

- I do know that it doesn't cover my convertible top. I find that to be a MAJOR gap in the coverage.

- Unless I pay something like $400 more, it doesn't cover iDrive. That's a ludicrous amount of money to pay to cover one system.

I'm also bummed, cause I just discovered that GEICO offers complete coverage - everything in the car but normal wear parts - for less (tho with a bigger deductible), but it has to be purchased in the first 15 months of ownership, so I'm too late.

[1speedbike]

Here's my response to "is the extended warranty worth it?":
http://www.1addicts.com/forums/showp...9&postcount=14

Here's the whole thread that was posted in (lots of good info from many people):

"2008.... 1 series: SURVEY" (getting extended warranty vs. not)
http://www.1addicts.com/forums/showthread.php?t=659740

And here are a bunch of other very helpful recent threads on the subject:

"How many miles on your 1?" (and list transmission + any problems encountered)
http://www.1addicts.com/forums/showthread.php?t=668650

"Who still loves their 2008 135i?"
http://www.1addicts.com/forums/showthread.php?t=658631

"What are common problems to look for?" (in high mileage cars)
http://www.1addicts.com/forums/showthread.php?t=667026

"70,000 miles: A reasonable goal?"
http://www.1addicts.com/forums/showthread.php?t=668489

"Should I cancel the extended warranty?"
http://www.1addicts.com/forums/showthread.php?t=668501


I hope this helps! It's a bit of reading, but there is a lot of good information out there to help you. I personally got the warranty, without the electronics being covered (the Nav + radio), and got the "gold" warranty. I think the basic warranty is the best deal, but I knew my steering wheel was peeling and I tend to have cosmetic problems, so I opted to warranty the cosmetics as well. I think that's what pinmagic was saying as well. With the basic warranty, you car can pretty much blow up, but you can rest assured that it's covered.

More info here:

http://www.bmwusa.com/Standard/Conte...rotection.aspx

And here's the brochure with the specifics:

http://cache.bmwusa.com/pdf_3927f5d4...2-dce774027bde

[Lexington]

I didn't see cosmetic items as being covered or headlights for that matter. Althought the dipstick assembly is covered.

[1speedbike]

Originally Posted by Lexington

I didn't see cosmetic items as being covered or headlights for that matter. Althought the dipstick assembly is covered.

You're right, it doesn't say it. But my dealership stated that the Gold is "everything that factory warranty would cover except the nav and the radio." I also am getting my peeling steering wheel (a cosmetic defect) covered by this warranty as I am over 50K. I would call and ask your particular dealership.