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These types of extended warranties can buy a lot of peace of mind. That shouldn’t be ignored.
However it’s also important to realize that providers don’t sell the extended warranties at a loss. These warranties are profit centers for the providers. So getting one of the warranties isn’t likely to save you money over your ownership of your X5. Again, you’re buying peace of mind, not an overall cheaper way to get your car repaired.
Another common approach is to take the cost of that extended warranty and sock it away in a high-interest bearing account somewhere. If you have the discipline to leave it there except for using it for repairs to the car, you’ll likely end up ahead financially, but maybe with less peace of mind along the way.
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