extended warranty for a used X3

Hi All,

I have recently purchased 2012 X3 from a non BMW dealer with 26000 miles, he offered me extended warranty for which I said no as I still have BMW factory warranty for another 25k miles or till 11/1/2015.

My question is why do I need extended warranty when I still have BMW factory warranty and if I take also it will start from the day when my current BMW factory warranty expires, I’m right? and i can take the extended warranty anytime i want isn't ?

if i want to take do i have to take before the current one expires..

Originally Posted by jayasanala

Hi All,

I have recently purchased 2012 X3 from a non BMW dealer with 26000 miles, he offered me extended warranty for which I said no as I still have BMW factory warranty for another 25k miles or till 11/1/2015.

My question is why do I need extended warranty when I still have BMW factory warranty and if I take also it will start from the day when my current BMW factory warranty expires, I'm right? and i can take the extended warranty anytime i want isn't ?

if i want to take do i have to take before the current one expires..

The dealer probably offered some 3rd party extended warranty, since they could not sell the same product as BMW dealers do. You would have to check the terms of that extended warranty to determine how much it covers, for how long (mileage/years), when you would need to purchase it by and if it's worth it to you or not. You might inquire with a BMW dealer to compare their product and if it's availabe for a used vehicle. Why would you need it? Well, you wouldn't need it yet, since you are under factory warranty but perhaps after that expires, depending on the vehicle's reliability, how long you intend to own it, your tolerance for risk, etc., you might want such coverage.

ya, you are right i don't need now as i have factory warranty.

thanks

The BMW extended warranty can only be purchase before your original warranty expires. After market warranty can be purchase anytime. Either way, if you dont plan to roll the cost of the warranty into your loan, then I would wait.

Extended warranties can be misleading ie. 6 years is really 2 extra years beyond the factory 4 years. Also non-BMW dealers might be selling a vehicle that was involved in a serious accident, do they might be offering an aftermarket warranty.

So read your warranty agreement.

Best strategy IMO is to price out warranties about 1 month or 1500 miles from the end of your new car warranty... Between now and then, you may decide to sell the car, wreck it, etc. and the $$ you paid for it would be down the drain. However, some people want to finance the cost into their payment...then , i guess, it may make sense...

I am with Geico for my car insurance. They offer "mechanical breakdown" coverage for my X3 for about $100 per year, up to 7 years or 100,000 miles. I heard the premium will go up each year, but the overall cost is still way lower than BMW extended warranty. Deductible is $250. Internet reviews say it's a sweet deal and covers extensively. Though you have to be the original owner, and sign up before 15000miles/one year.

If you sign up before 15k/1 yr then basically you are throwing money away till you past 50k/4 yrs? (about $400+ depends on how much this premium goes up each year)
You cannot pay preventive water pump replacement if it isn't broken...

Originally Posted by fb88

If you sign up before 15k/1 yr then basically you are throwing money away till you past 50k/4 yrs? (about $400+ depends on how much this premium goes up each year)
You cannot pay preventive water pump replacement if it isn't broken...

You are throwing money away if you sign up on day one. My X3 currently has 12000 miles, I will sign up the mechanical breakdown coverage after couple months. You don't waste money during the time your car is covered by BMW, you just play by their rule. Geico could ask you to pay nothing in the first 4 years but pay triple after. BMW's 7 years/100k miles extended warranty is over $3000, the saving is obvious. According to what I read about Geico's mechanical breakdown coverage, you just drop off your car at the BMW shop and tell them your Geico membership number, and pay the $250 deductible when it's done.