PDA

View Full Version : Which is the best extend warranty


Jbest15
06-19-2012, 10:01 PM
I have a 2008 535i BMW and looking to find the best extended warranty. May someone please help me? I would appreciate it.

Robert A
06-20-2012, 08:06 AM
None that I found justified the exorbitant cost and limited coverage. Consider self-insuring by putting the premium in a savings account.

uwhusky
06-20-2012, 08:17 AM
I disagree with the poster who doesn't think it's worth it. Think the extended warranty is worthwhile both from a financial perspective as well as for peace of mind.

I chose AUL for a few reasons. Those being if I service the car at my local dealership they wave the deductible, it's an exclusionary policy (easier to understand what isn't covered rather than identifying everything that is covered), it's transferable or if I sell the car I get a refund on some of the premium I paid. In addition to that, I have already had a few things fixed under the AUL warranty and those things have added up to about $1,000 and I'm only 6 months in to the extended warranty, which lasts 7 years or up to 100,000 miles. I bought the AUL warranty in December and I currently have 41k miles. So I have about 60k more miles on the warranty. I paid about $2500 for the warranty, which equates to about $400/10k miles or $357/year. That's pretty reasonable insurance, IMO.

I can almost guarantee that over the life of the warranty I will be money ahead given I've already saved $1,000 and spent $2,500 in 6 months. $1500 more in expenses and I'm break even. I had door actuators go out and a fuel line leak that needed fixing. That alone was $400.

I also think compared to posters and people on this board, my 2008 535xi is as reliable or even more reliable than many others. I haven't had many things go wrong with it in comparison.

luxcar
06-20-2012, 08:27 AM
I agree with uwhusky. If you can find a good warranty its worth the money.

Robert A
06-20-2012, 10:06 AM
Provided the policy language and the insurance company is solid, $2.5k for 3 additional years on a turbo motor isn't bad.

On my 530i, it was the same price for two additional years and it didn't make sense to me. FWIW, I am almost through those two additional years and haven't spent anything on repairs.

I disagree with the poster who doesn't think it's worth it. Think the extended warranty is worthwhile both from a financial perspective as well as for peace of mind.

I paid about $2500 for the warranty

uwhusky
06-20-2012, 10:31 AM
Provided the policy language and the insurance company is solid, $2.5k for 3 additional years on a turbo motor isn't bad.

Well then $2500 for 6 additional years is a real bargain. The term on my paperwork is for 72 months. Sorry I mis-spoke, it's not 7 years...it's 6 but definately not only 3 years.