extended warranty, serious money

[jens0125@umn.edu]

hi new here so sorry if posted some where else
I have a 650 xi drive coup with 48 K miles
would like to do a bmw extended warranty plan

at gold level for 7 year 100K miles they are at 6k $

seems higher

wonder if anybody else has gotten extended warranty and what they paid if you don't mind me asking

many thanks

[YasF80_SLO]

Originally Posted by jens0125@umn.edu

hi new here so sorry if posted some where else
I have a 650 xi drive coup with 48 K miles
would like to do a bmw extended warranty plan

at gold level for 7 year 100K miles they are at 6k $

seems higher

wonder if anybody else has gotten extended warranty and what they paid if you don't mind me asking

many thanks

on my 335i coupe, paid 3600 for gold 6/100. maintenance was 2500$ for 6/100.

Might be different for 650, but hope this helps.

[EL Jeffe 5]

just purchase for 2013 550i $4100.00
5 years and 75k miles

[Warrior75]

Seems fairly reasonable to me. Was wondering the same thing myself. Just picked my car up today, and I definitely want a warranty.

[Khalil]

Purchased BMW warranty on my '14 just before 80k KM (50k miles) and I paid approximately $4,000 CAD ($3,000 USD) for coverage until 2020 or 200,000 km (125,000 miles).

[sewright]

I posted this elsewhere a couple months ago:


I bought my car at a third party dealer 6 months ago, with about 7 months balance on its factory warranty. I have taken the car into the local BMW dealer for various work. This past week I went into the dealer to discuss warranty options. I ended up buying a non-BMW warranty from the BMW dealership. They said that they had used that company for 12 years and that the warranty would be honored at any dealership. They also offered me a few different BMW warranty options but they didn't make sense.

Incidentally, the previous owner had bought the car as certified from a BMW dealership. One BMW option would have restored the certification on my car.

The third party company is called "Warranty Solutions". From their brochure, they appear to be owned by Wells Fargo FWIW. The list of exclusions is limited and just the things that you'd expect such as wear-and-tear items (tires, brakes, etc)

The reason the BMW options didn't make sense for me: The 6 year, 60,000 or 7 year, 70,000 mile warranties use the original sales date for the coverage. So I would have been buying 2 or 3 years (my car only has 20,000 miles on it and I average 6,000). Instead, I got 4 years for less than the three year BMW option.

[sewright]

And this:

This is part of the quote I got for warranty from BMW:
BMW Platinum Coverage - Full coverage. Coverage starts from the original date of purchase of the vehicle. You will need to bring the vehicle before we can issue the coverage to do a key reading for mileage.

6 years or 70,000 miles: $4,451 plus tax (7%)

7 years or 70,000 miles: $5,130 plus tax

Deductible: $50.
That's Platinum coverage. They have a Gold coverage that is a little cheaper but not much. The 6/7 years starts from original purchase date. I didn't think that was a good deal.

I also got quotes for 3rd party warranty that the local dealer uses. It's cheaper and for longer periods of time.

[sewright]

I ultimately bought the 3rd party warranty and I'm covered for 4 years for $4200. With tax it was about $4500. I forget the mileage that I got on the third party warranty. I think 48 but not sure as I cannot imagine coming close to hitting the mileage.

[doughboy650gc]

prob. a dumb question but do these warranties have to be paid in full or pay monthly like an insurance policy?

[RAZING]

Originally Posted by sewright

I ultimately bought the 3rd party warranty and I'm covered for 4 years for $4200. With tax it was about $4500. I forget the mileage that I got on the third party warranty. I think 48 but not sure as I cannot imagine coming close to hitting the mileage.

Does the 3rd party warranty have a $50 deductible like the BMW extended warranty does? Also, does the 3rd party warranty have an allowance for each repair? For example, if you take your car to a BMW dealership and they charge you $800 for a repair, but the warranty only covers $600 for that same repair, then you would have to pay $200 out of pocket.

[sewright]

@[doughboy650gc] - I don't know, I just paid mine in full when I signed up for it. I didn't ask but I'd assume that was their only option. Never hurts to ask though...

@RAZING - The standard deductible is $100 but they have options to buy it with a $50 deductible and a "disappearing $100 deductible". I didn't ask for pricing for either of these options. No allotment, they pay in full. The dealer I went to is also a Porsche dealer, they said that the company just had paid out $35k for a new Porsche engine under warranty.

[JP1906]

Originally Posted by doughboy650gc

prob. a dumb question but do these warranties have to be paid in full or pay monthly like an insurance policy?

Doughboy650gc, I have a 7yr/70K warranty for ~$4,000. I'm paying monthly payments interest free for 18 months. You can check your dealership(s) to see if they offer these options. My payments are deducted automatically each month to BMW of NA finance.

However, I was not able to pay monthly for the extended maintenance plan; this is an upfront cost.

[doughboy650gc]

Originally Posted by JP1906

Doughboy650gc, I have a 7yr/70K warranty for ~$4,000. I'm paying monthly payments interest free for 18 months. You can check your dealership(s) to see if they offer these options. My payments are deducted automatically each month to BMW of NA finance.

However, I was not able to pay monthly for the extended maintenance plan; this is an upfront cost.

Thank you i will be contacting them tom.

[FloridaRay]

Hello, My 2014-640i has 45K miles. BMW quote for 12 month BMW warranty is about $6000. Has anyone experienced maintenance costs that are higher within a 12 month period for a 4 year old car?
Is the gamble of pay for repairs -if needed, an unreasonable risk to take for the BMW brand? Because, like life insurance, BMW is making money on selling this risk/reward policy

[6coupe]

What do you expect to go wrong that warrants such expensive warranties? Do you think these cars fall apart after 3yrs or something? Seems like a very expensive insurance premium, would be better off / wiser in majority of cases putting those 3-6k in a savings account and if you don't have any need for expensive repairs, use it for something worthwhile.

[JP1906]

Originally Posted by FloridaRay

Hello, My 2014-640i has 45K miles. BMW quote for 12 month BMW warranty is about $6000. Has anyone experienced maintenance costs that are higher within a 12 month period for a 4 year old car?
Is the gamble of pay for repairs -if needed, an unreasonable risk to take for the BMW brand? Because, like life insurance, BMW is making money on selling this risk/reward policy

I had to replace my oil gasket housing, drive belt tensioner, drive belt and upper radiator hose on my 640. Two BMW dealerships quoted me between $2,300 - $2,500. Although I know the price for the radiator hose was too high, I got it covered through my extended warranty. The repairs for these cars are not going to be cheap at the dealership, however, if you have an independent repair shop you trust, it's worth the gamble.

For instance, I don't have an extended warranty on my F30 and the rack went out. BMW wanted $3,200 just for the rack. I got everything replaced at an independent for $1,600. (It was a used rack from a salvage)

[Khalil]

Get the warranty. The transfer case on my '14 650iX GX just self imploded to the tune of an $8,000 fix.

[bravo261]

get the warranty. i bought my '15 650 new and put 31k miles in 30 months and its been in for drivetrain malfunctions at least 5 times with additionals leaks here and replaced parts there. my co-workers laugh every time after warning me about bmw...i thought it was just old thinking, but now i worry about a $100k car dying again on the side of the road every day