12-18-2018, 07:22 PM | #1 |
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Aftermarket warranty
I'll soon be joining the 1M club! My credit union offers a mechanical protection plan that I'm currently evaluating. It is offered through Mercury Insurance.
I wanted to see what other companies other 1M owners have used for 3rd party warranties and whether you'd recommend them or run for the hills. The plans from Mercury range from $2-6k with varying duration and coverage levels so I'm not totally convinced it is worth it. Any chronic issues I should know about and save up for? Thanks gents. |
12-18-2018, 09:19 PM | #2 | |
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i would skip on any aftermarket warranties. if you feel unsafe buying a 7 year old used car, i would take that $2-6k and toss it into the bank. you should be fine.....the 1M is a fairly reliable car besides some 'usual' issues but spending money on preventative issues and maintenance is a better bet than spending money on profit-making warranty services.
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12-18-2018, 10:19 PM | #3 |
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In my experience, you can't go wrong with purchasing an aftermarket warranty that meets your needs and criteria.
I wrote an article that dispels many common misunderstandings here. https://bimmerlife.com/2018/01/29/af...nty-may-worth/ Last edited by tock172; 12-19-2018 at 12:51 PM.. |
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12-19-2018, 05:26 AM | #5 | |
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12-19-2018, 12:46 PM | #6 | ||
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I actually addressed this in my article: Quote:
Last edited by tock172; 12-19-2018 at 01:02 PM.. |
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12-19-2018, 03:49 PM | #7 | |||
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I have driven mine a lot and had no major issues that weren't covered by extended warranty (BMW service bulletins and company extended warranties) A 1M aftermarket warranty is significantly more expensive than a NON-M car. All M cars are pricier to warranty...some even deemed non-warrantable by companies. Most 1M owners don't put a lot of miles on their 1Ms
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12-19-2018, 06:12 PM | #8 | |
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None of what you wrote has any bearing on OP's decision to buy a warranty. The original author of this thread has already listed quoted prices for an aftermarket warranty, all of which are completely in line with my understanding of the market for a BMW as old as a 1M. Your concern about M cars not being covered by an aftermarket warranty is also out of left field--walk into any finance department of any BMW dealer and inquire about it. The companies that write these warranties will offer coverage for almost anything, but you must be willing to pay for it. As I mentioned above, while referencing my article, which you do not seem to have read, all of this is clearly explained. There is very little risk in buying an aftermarket warranty with an exclusionary contract, as I discussed. If you don't use it, you get reimbursed for it. If you don't want it, you can transfer it to the next owner, or you can cancel and receive a pro rata refund of what's left, which is typically most of the original purchase price. I don't put many miles on my 1 Series either, but the warranty for my 2011 paid for itself within 12 months by covering simple things like the starter, control arm bushings, the water pump and more--components, parts and items that are also used on the 1M in identical or similar forms. Things will always break, and the 2011 model year is continuing to shrink in the rearview mirror. Last edited by tock172; 12-19-2018 at 06:19 PM.. |
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