Debating Extending warranty.

[z32 fairlady]

Hi all. First time BMW owner as well as extended warranty buyer on a used vehicle. I've read that in FL extended warranties are treated like insurance and there is no negotiation on the prices. Aside from reading, I've heard this from a local dealer and 2 warranty companies as well - Endurance and Carchex.

Oddly enough, Delta Auto Protect was able to offer a warranty with 5yr / 150K miles for $2K. This includes a $0 deductible and is a discounted price. It seems too good to be true.

Looking to see if anyone here has had similar experiences and live in FL. Also what did you end up with?

[doublevanosrc]

So it looks like my extended warranty is about to pay off big time. Just got the engine too hot message which is the water pump I assume and my shop told me that I have the OFHG leak too, along with a leaking oil cooler.

[Big Mexican Women]

the car has barely 40k miles on it, even if it did have a service history that would mean absolutely nothing with such a mileage.

whether the extended warranty will be worth the money or not depends on how long the warranty will last, and how much you drive.

if you will be able to still have the warranty after 100k+ miles, it will be helpful. if you don't plan to keep the car for this long or you know it will expire before things start to go wrong (at 100K+ miles) save your $3500.

[Happy Jose]

As a postscript, I did buy a BMW Gold Warranty for $3,000. God I hated to part with the money. but repairs on this car are expensive. BTW, the price on the warranty was around $3,800, and I had to beat the dealer down in price. I also negotiated with several dealer to get the best price. All of them were really pissed that I had the audacity to ask for a lower price. Ignore them, just remember what they were asking for for the car new! LOL

[doublevanosrc]

Originally Posted by Happy Jose

As a postscript, I did buy a BMW Gold Warranty for $3,000. God I hated to part with the money. but repairs on this car are expensive. BTW, the price on the warranty was around $3,800, and I had to beat the dealer down in price. I also negotiated with several dealer to get the best price. All of them were really pissed that I had the audacity to ask for a lower price. Ignore them, just remember what they were asking for for the car new! LOL

I paid $2800, but as we speak my car is at that indy for a few repairs. OFHG leak, leaking oil cooler and the water pump is probably on the way out too.

[doublevanosrc]

Today I hit $2540 in total repairs so it's fair to say my extended warranty will pay off big time. I paid $2800 for it and still have 3 years or 45k miles to go.

Water pump $1,000

OFHG leak $995

A/C blower replacement $475

Power windows reprogram $70

current mileage 80,701

[Happy Jose]

Originally Posted by doublevanosrc

Today I hit $2540 in total repairs so it's fair to say my extended warranty will pay off big time. I paid $2800 for it and still have 3 years or 45k miles to go.

Water pump $1,000

OFHG leak $995

A/C blower replacement $475

Power windows reprogram $70

current mileage 80,701

Whose leg are you trying to pull?

You didn't buy a BMW warranty, since it can only be used at a BMW shop not an independent. Also, no BMW dealer is going to sell one for $2,800.

Why is it you characters feel the necessity of lying?

[duder13]

I spent about $2K on my extended warranty from CarMax on a 135i with 38k miles, and it’s already paid out around $5K in the first year. lol Headlights and control modules, charge pipe, OFHG.

[doublevanosrc]

Originally Posted by Happy Jose

Whose leg are you trying to pull?

You didn't buy a BMW warranty, since it can only be used at a BMW shop not an independent. Also, no BMW dealer is going to sell one for $2,800.

Why is it you characters feel the necessity of lying?

Lying? About what? I bought an extended warranty that can be used anywhere including my local BMW center which performed everything except the water pump replacement. I never said it was a BMW warranty, might want to go back and read all the thread.

[doublevanosrc]

Originally Posted by duder13

I spent about $2K on my extended warranty from CarMax on a 135i with 38k miles, and it’s already paid out around $5K in the first year. lol Headlights and control modules, charge pipe, OFHG.

I used to work at Carmax and $2k is a good price depending on the deductible amount, for some reason extended warranties at Carmax for BMWs are really pricey.

[zx10guy]

Originally Posted by doublevanosrc

I used to work at Carmax and $2k is a good price depending on the deductible amount, for some reason extended warranties at Carmax for BMWs are really pricey.

They're expensive because of what people have had covered. Look at what has been paid out for your car already.

[duder13]

Originally Posted by doublevanosrc

I used to work at Carmax and $2k is a good price depending on the deductible amount, for some reason extended warranties at Carmax for BMWs are really pricey.

Yeah, I think it was a little lower than most BMWs, because the E82 is relatively reliable and simple compared to other BMWs.

[swunder]

Nothing to debate here, its a no brainer.

I bought the 5yr/100k mile route 66 for 3 grand. Has paid out ~1800 in 6 months of ownership. Even if the car cost 0 dollars over the next 4.5 years, the piece of mind is worth it.

I think these warranties make a ton of money on Hondas and Toyotas, and take a hit on the BMW's and Audi's.

[Gangplank]

Originally Posted by swunder

Nothing to debate here, its a no brainer.

I bought the 5yr/100k mile route 66 for 3 grand. Has paid out ~1800 in 6 months of ownership. Even if the car cost 0 dollars over the next 4.5 years, the piece of mind is worth it.

I think these warranties make a ton of money on Hondas and Toyotas, and take a hit on the BMW's and Audi's.

Exact same here. Route 66 "easy street" FTW.

[doublevanosrc]

Originally Posted by zx10guy

They're expensive because of what people have had covered. Look at what has been paid out for your car already.

True, I remember running the numbers on a 2012 750i and the warranty was $8500 with zero deductible, Crazy.

[NorthernDancer]

This thread is for 135's, I understand that completely.

But just for info, I have a 08 128 that I have had for 8 years now. Its sits in winter storage for 4-5 months every winter so usage wise it's more like a 2011. It has 60662 miles. It has NEVER had a "repair". Nothing has broken. I've only done tires, brakes & oil changes. I've had it on a track for 3 or 4 days. Obviously, EW not required.

[Dthltm]

My 2013 135i has ~67k miles on it. Warranty period is up in April. I am putting it in the shop Tuesday and will see if they find anything. I wish I could get more duration and less mile allowance on a warranty as I only drive about 10k miles a year with this as my DD.

[Happy Jose]

Regarding extended warranties requires some analysis. You have three choices:

1. Go naked and hope nothing major happens to the vehicle.

2. Buy an extended warranty looking at it as insurance against expensive repair bills.

3. Trade the car for a new vehicle in order to have a new car warranty.

If you select option one, you are kidding yourself. It's a BMW and its problems are well know. In short, something is likely to happen.

Regarding option two, you have a choice of a BMW warranty or something like Route 66. With the BMW warranty, it'll cost you more but it offer more. In any case, you'll have to pony up the bucks for peace of mind.

Option three might be a good choice if your car has a lot of mileage on it. You might ask yourself did you take care of the car or just flogged it. But if the car has been fairly reliable and doesn't have too many miles on it, this option is not only expensive but the cowards way out!

I'm always amazed at the people who own BMWs. They seem totally unaware that this brand can be expensive to own. To be a happy owner, you'll have to accept the cost of ownership. You might consider the caution Consumer Reports wrote, an extended warranty might be a good idea with these vehicles considering their reliability.

Well at least BMW are more reliable than Mercedes according to CRs.

[jkoral]

I've never owned an extended warranty. Have about 320K miles across 4 BMWs over last 23 years (E36, E46, E82). Never had a major problem that wasn't an expected/well known issue.

[duder13]

Originally Posted by jkoral

I've never owned an extended warranty. Have about 320K miles across 4 BMWs over last 23 years (E36, E46, E82). Never had a major problem that wasn't an expected/well known issue.

I think the problem is that BMWs tend to have quite a few expected/well known issues.

[doublevanosrc]

Originally Posted by jkoral

I've never owned an extended warranty. Have about 320K miles across 4 BMWs over last 23 years (E36, E46, E82). Never had a major problem that wasn't an expected/well known issue.

I would question what do you consider a "major problem"? Water pump going out? OFHG leaking?

[JimVonBaden]

Originally Posted by doublevanosrc

I would question what do you consider a "major problem"? Water pump going out? OFHG leaking?

You think those are major issues? Best buy a Honda new every three years.