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08-26-2013, 10:05 PM | #23 |
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I don't buy warranties on anything. Electronics, appliances, cars... EXCEPT, I bought one on my 1. I read too many stories online about multiple expensive repairs. To me the warranty is worth it since I was able to finance it into the car payment. For about $50 a month I can be sure that while I am making payments on the car I will have zero unexpected costs if something goes wrong.
To me this makes more sense than saving the money to cover repairs. If 2 years from now the car needs a $3000 repair I will have only saved $1200 using the same $50 a month plan. I would still have to come up with another $1800 out of pocket. I see the argument about what happens if you never use it, then you are just out all of the money, but in this case I just treat it like insurance. I've spent untold thousands of dollars on insurance and haven't gotten a penny of that money back either. To me the risk on BMW justifies the warranty. If this was a Honda I wouldn't even ask how much the warranty was before declining it... but BMW reliability is not on par with Honda. |
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08-26-2013, 10:28 PM | #24 |
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I wonder why anyone would buy these cars, if they are so unreliable. Isn't it something about German engineering? If they actually were so unreliable, I sure wouldn't buy one. I'm on my third.
Last edited by Walt White Coupe; 08-27-2013 at 06:20 AM.. |
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08-27-2013, 10:50 AM | #25 | |
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08-27-2013, 11:10 AM | #26 |
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The recent BMW reliability, especially on turbo cars (N54 and N55 engines) is not what is used to be. Engine bay and other areas are cramped, and harder to work on, more so on the 1-series. People still buy them because they drive great.
Another good reason to get the warranty - N54 + N55 based cars are harder to sell when they are out of warranty. They stay on the market for a longer time, and the depreciation is greater. At least, this is the case in my neck of the woods (Quebec, Canada).
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Last edited by dcaron9999; 08-27-2013 at 12:03 PM.. |
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08-27-2013, 03:59 PM | #27 | |
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They all make money for the providers, they all assume you will pay more than you will consume and, statistically, you'd be financially better off self-insuring. Personally, I prefer to transfer the risk to a 3rd party and am willing (and able) to pay the premium.
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08-27-2013, 04:39 PM | #28 |
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I guess you didn't read this part:
As a general rule, you should only insure for those losses that you can’t afford to cover yourself or for which there is an abnormally high and unpredictable risk factor. That’s why automobile insurance, health insurance, homeowners insurance make sense. Most people can’t afford to cover the potential catastrophic losses that these risks present. And the risk is always there. The risk doesn’t change over time. At any moment you may have a heart attack, a drunk driver runs into you, your home catches fire, etc. But automobile failures are not the same as discussed above. Transfer the risk? No, you said I'll pay for repairs upfront even if they never occur. Most likely they will not happen but you paid for them anyway. 90% of what people worry about never happens. Remember Alfred E. Newman, "What me worry?" Last edited by Walt White Coupe; 08-27-2013 at 04:51 PM.. |
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08-27-2013, 05:50 PM | #29 | |
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Anyway, I think it's best to get insurance for things that have a low chance of occurring but if it occurred, the expense would be so high that I can't afford to cover it. To me that includes health insurance, driving insurance, and house insurance. Laptop insurance, probably not. Car insurance is somewhere in the middle. |
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08-27-2013, 08:25 PM | #30 |
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Right. I didn't prepay for the repairs in advance. I paid a much lower price which I am okay with losing completely vs. having to pay a lot more out of pocket should something go wrong. If I paid $3000 for a warranty and it ends up repairing $6000 worth of stuff I'm going to be way ahead of the "put the same money away in case you need it plan". I'm not familiar with what the BMW extended warranty covers but the one I bought from CarMax covers me up to 125,000 total miles on the car or until the middle of 2019 on a 2011 model year car.
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08-27-2013, 09:06 PM | #31 |
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I guess I just like playing the odds in my favor. Over the long run I always win. And I'm in it for the long run. Car repairs are not something that are going to affect my way of life no matter how much they are. So self insurance makes sense to me.
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08-27-2013, 11:09 PM | #32 | |
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08-28-2013, 07:03 AM | #33 |
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Good points on both sides. I do agree that if one has a large amount of money allocated where they could take a large hit (say the engine goes), it becomes less of a risk.
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08-28-2013, 07:11 AM | #34 |
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Facts:
Im an owner of a 135i with 30,000 Miles. For this specific car, nobody is going to convince me that saving money in a repair fund is a better idea than a base or extended warranty, for long term peace of mind, and to add value to the car when I eventually sell it.
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Last edited by dcaron9999; 08-28-2013 at 07:19 AM.. |
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08-28-2013, 09:57 AM | #35 | |
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The extent to which a good or service gives satisfaction is always personal. Extended warranties are an option to a vehicle purchase, much like, say, the Nav system is. Personally, I get more satisfaction of having an additional 3 years warranty ($1800), than a do a Nav system ($2000). Similarly, because I enjoy performance and handling I'm willing to pay $45K for a 1er vs $25K for a Chevy Cruze. Life is all about choices. The financial ones you make should be based on what you value, not on anyone else's opinions.
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08-28-2013, 10:23 AM | #36 |
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Their are opinions and there are facts. They are two different things. The facts are that the odds of an extended warranty paying for itself in repairs are low. And the corollary is that the odds that the insurance company will make a profit are high. The best conclusions and opinions are based on facts. I don't understand why, given the choice, a person wouldn't want the odds that a gambling house has over that of the odds of the gambler. And that's what it comes down to. But "worry and fear" sells over logic to the people that just don't get it.
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08-28-2013, 11:48 AM | #37 |
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Out of curiosity,how much mileage on your 135i? Are you planning to keep it beyond 50,000 Miles?
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08-28-2013, 11:53 AM | #38 |
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I need to re-read this as I don't fully understand how the turbocharger and wastegates interact. Also want to confirm with BMW, but it sounds like in some (many?) cases it would be covered:
The emissions warranty for the turbocharger wastegates has been extended to 8 years or 82,000 miles, whichever one occurs first, for a failure of a turbocharger caused by a defect in a turbocharger wastegate that does not otherwise fall within exclusion to coverage under the warranty. Any applicable TeileClearing or Diagcode requirements still apply. The turbocharger wastegates’ 8 year/82,000 miles warranty supersedes any applicable coverage provided under the BMW Certified Pre-Owned program or any BMW Group Vehicle Service Contract in effect. This component’s warranty extension applies to the above-listed models only. It is applicable to eligible vehicles which are registered and operated in all 50 states. The existing warranty coverage for all other parts has not changed. BMW is informing all eligible Settlement Class Members of their extended turbocharger wastegates warranty. http://www.e90post.com/forums/showthread.php?t=729833
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08-28-2013, 12:42 PM | #39 | |
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08-28-2013, 01:01 PM | #40 |
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But I'm talking about an '09 which is an N54 (correct me if I'm wrong here). In that case, the turbo is covered? Or just under certain circumstances? Based on what I can tell, N54 turbos and HPFP are the two bigger issues with the 135. If covered by BMW orig warranty, the extended seems to not be as attractive (let's assume it was a bit, okay Walt ).
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08-28-2013, 01:05 PM | #41 |
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It's got around 12,000 miles and not sure how long I'll keep it. It will surely be beyond the standard warranty. I have no plans to sell it anytime soon and I'm sure what you are getting at is that it will probably be a relatively low mileage car since I have two, I'm the only driver and I'm retired so don't have to drive it to work. But once a car gets over 20,000 miles or so any part that is suspect would have most likely failed and been replaced under warranty so I don't see over 50,000 miles as really relevant. With new cars even at 100,000 miles it should be reliable.
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08-28-2013, 01:35 PM | #42 | |
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Im running on base warranty too at this point. So far (2 month of ownership), about $5000 worth of work has been done on my 2011 135i by my dealership. If the odds are against me, and this trend continues on this "new" car, I will have to choose between getting rid of the car, or getting an extended when Im close to the 50,000 Miles/4 year mark. No need to "waste" money now on an extended warranty. That is my 2 cents logic ...
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2011 X3 35i with M pack + 2011 135i w/6SPMT | 255 square tire setup | Quaife 3.46 LSD | Diff lock down bracket | Bilstein B8+Swift SpecR springs+H&R FSB | CDV delete | BMS Oil Tstat bypass | ER FMIC & CP | N54Tuning DP | GC Street Camber Plates | M3 FCA +guide rods+RSFB's+Tranny mounts | Manzo toe arms | Cobb Stg2 agressive tune | Hawk DTC70 brake pads | RB SS brake pistons | Goodridge SS brake lines | Custom brake cooling ducts
Last edited by dcaron9999; 08-28-2013 at 01:41 PM.. |
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08-28-2013, 01:47 PM | #43 | |
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08-28-2013, 02:45 PM | #44 | |
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