BMW Extended Coverage vs. LDS

[Derek8819]

So I am debating getting in on the group buy on here for extended warranty, but I decided to give my local dealer a chance to match the prices. They pretty much shot down the GB pricing, showed me the BMW invoice price and said the GB prices are impossible. The thing that got me bothered most was that they did not reccomend going with the BMW plans, they reccomended a local company called LDS. It is apparently a business started by all the local dealers in partnership so I am sure they are getting a kick back, but the price/inclusion parts are hard to beat.

Here are the GB prices:

BMW 135i If still under 4yr/50k mi

Powertrain Plus
5yr/100k your price is $1,600
6yr/100k your price is $1,870
7yr/70k your price is $1,930
7yr/100k your price is $2,140

Gold
5yr/100k your price is $2,330
6yr/100k your price is $2,790
7yr/70k your price is $2,890
7yr/100k your price is $3,240

Platinum
5yr/100k your price is $2,600
6yr/100k your price is $3,130
7yr/70k your price is $3,250
7yr/100k your price is $3,650

Maintenance is $1,170

The LDS price is $2100, but includes EVERYTHING for 7yrs/100,000mi, that is almost $1500 cheaper than the BMW plan with equal coverage and is refundable if not used and partially refunded at a prorated price when you sell the car.

What do you guys think?

[MaC-N54-E82]

Can you provide a link to the group buy? TIA

[Derek8819]

http://www.1addicts.com/forums/showthread.php?t=560879

[ken1137]

Those are pretty good deals if you ask me...I paid about the same for the Gold package but for 50% of the yrs.

[Derek8819]

I do think the prices are good, I just get more with the LDS plan for less money. Also, the group buy guy at the dealership makes me sort of nervous, the email I got back from him when I told him I wanted in was...

Derek,
I was seeing if there is a way we can do a Cashier’s Check or possibly through our Google Checkout?
If you had any other questions


Wish he was local so I could really verify this was all legit because my two local dealers so that there is no way it is, but I usually doubt my local dealers are legit anyway.

[ken1137]

I would think it is legit according to what I saw on the thread. Maybe they just want to ensure there will be no rubber checks (?)

[sc135i]

ok, i'm confused! I don't see where we have prices on the extended warranty group buy yet. Am I blind?!

[bluesunit]

Was your quote for LDS from Peake or Brian Harris?

I'm in NOLA as well (silver 135i) and I'm looking to extend coverage on my car.

For what it's worth, my dad ended up getting LDS coverage on his 535i. We have a family friend who owns a dealership and he had very good things to say about LDS.

[Canefan]

The prices you quoted are NOT the group buy prices. Those were provided as comparison for when the group buy prices are set so that we can see what a good deal we are getting. Again, the GB pricing has NOT been announced as of yet.

[Derek8819]

Those were PM'd to me by a member that works at a dealer, says he offered that to everyone in the group buy.

I am located in Mandeville, I use Brian Harris even though they are farther from me because the horror stories about Peake scare me.

[ejm3]

I'm always nervous using a third-party warranty company.
Who knows if they'll even be in business 5 years down the road?

[GerryL]

Originally Posted by ejm3

I'm always nervous using a third-party warranty company.
Who knows if they'll even be in business 5 years down the road?

ding! ding ! ding! 3rd party warranty companies fail regularly as clockwork and are considered one of the shadiest financial businesses out there. They charge less up front, can't afford the legitimate payouts as they rise a few years later, and go chapter 11 before the funds entirely run out. Its a legal shell game. Only if they can sustain meteoric growth, can they afford to pay out the claims on the policies they wrote a couple years ago. If their growth levels off, they are broke. Most reputable consumer organizations recommend only buying from either a manufacturer back plan, or one backed by a large insurance organization that you have actually heard of.

[bluesunit]

Originally Posted by Derek8819

I am located in Mandeville, I use Brian Harris even though they are farther from me because the horror stories about Peake scare me.

I use Peake because I'm lazy. They've been OK since I gave the service manager shit for a bunch of stuff they screwed up during my fuel pump replacement.

Funny, my dad lives in Madisonville uses Brian Harris, but it's only because his salesman lives a few streets over. They just trade cars whenever he needs service.

[RoundelM3]

LDS? The Mormon Church is now doing extended warranties?