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E60 (2004 - 2010)
BMW 5-Series (E60 chassis) was first seen in the Unites States in the fall of 2003 with a 2004 Model Year designation. The E60 is now available as a 528i, 528xi, 535i, 535xi, 550i and a 535xi sports wagon! -- View the E60 Wiki

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  #1  
Old 02-18-2012, 11:23 AM
Westlakeoh1 Westlakeoh1 is offline
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After market Extended Car Warranty worth it?

I purchased a very nice 05 545 with 90K. The previous owners extended warranty cannot be transferred to me. I'm considering getting an extended warranty either 5yr/100K power train or 3 yrs/42K major components package. they both run around $3K to $3500 or so. I'm looking at two primary aftermarket warranty companies, Tech Choice/Premium underwritten by Enterprise Financial Group or Carchex.

My Indy who worked on my other 2000 BMW is not a fan of aftermarket warranties because he says they are always trying to find a way out of paying a covered item.

Any thoughts or advice from experience?

Thanks.
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  #2  
Old 02-18-2012, 11:26 AM
MrTantrum MrTantrum is offline
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I just had to make the same decision after purchasing an '08 535i w/ 32K. My quote was over $3500, but was a little difficult to swallow for me. I know that these cars can have expensive returns, but I have a great indy shop that is the most reasonable auto garage that I've ever done business with. I chose to self-warranty and keep the $3500 in the bank/invested.

There is no right or wrong answer here, just really depends upon what you are going to be most comforatable with.
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  #3  
Old 02-18-2012, 01:19 PM
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well, I went and got it for 3/36,000 miles for 3500 dollars. I think it will worth every penny, I think. Just front suspension components parts will be around 1,000 bucks and labor (100 an hour) another 700 bucks. Oil leaks is around 1000 bucks each on V8 engine.
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  #4  
Old 02-18-2012, 01:45 PM
MrTantrum MrTantrum is offline
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I completely understand and do not question your logic. My typical policy is to self-insure / self-warranty. When I ask the question, "why do companies sell warranties" my answer always is "to make money". This being said, they set the fees for warranties to a level with an expected profit margin overall. What this typical margin is, I have no idea, but am confident that their intent is to make a profit. Kind of like a casino, where some win and some lose, but the house always clears a profit. I've always gambled on being one of the "winners" and to this point in my life I am far ahead of the game by not purchasing warranties. This is not to say that at some point an event may occur that completely turns me upside down. Until then, however, I personally find it difficult to dole out my hard earned cash for something that may or may not pay for itself.

Again, not criticising you in any manner, just giving my philosophy.
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  #5  
Old 02-18-2012, 02:45 PM
SCsailor SCsailor is offline
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I once had a land rover. I opted not to get an extended warranty thinking I could just keep some cash on hand for eventual repairs. Bad idea in my case. The head gaskets went out twice in a little over two years to the tune of $3200 a pop. Those were not my only problems. An extended warranty would have saved me plenty and I probably would have kept the rover. I learned an expensive lesson.
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  #6  
Old 02-19-2012, 02:54 PM
ub40gb ub40gb is offline
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Yes but look what you had LR

Quote:
Originally Posted by SCsailor View Post
I once had a land rover. I opted not to get an extended warranty thinking I could just keep some cash on hand for eventual repairs. Bad idea in my case. The head gaskets went out twice in a little over two years to the tune of $3200 a pop. Those were not my only problems. An extended warranty would have saved me plenty and I probably would have kept the rover. I learned an expensive lesson.
Only kidding
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  #7  
Old 02-19-2012, 09:31 PM
jermaineE60 jermaineE60 is offline
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i was wondering if you guys have any phone number or website for aftermarket warranty because im looking for one myself
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  #8  
Old 02-20-2012, 04:57 AM
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I think best way it's find credit union around your area open saving account and buy warranty from them.
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Last edited by phlfly; 02-20-2012 at 10:24 AM.
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  #9  
Old 02-20-2012, 06:45 AM
Phoenix1 Phoenix1 is offline
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Quote:
Originally Posted by phlfly View Post
I think best way it's find credit union around your area open an saving account and buy warranty from them.
-----------------------------------------------------------------------------------
+1

That's what I did (opened a savings account with $50) in order to get a Route 66 "Easy Street" warranty. Bought it last month when my car was at 47 months 43K miles, gave me an additional 60 months or 100K total miles (whichever comes first) for $2400 including tax. I shopped around and no one could come close to the price/coverage.

Good luck!
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  #10  
Old 02-20-2012, 06:59 AM
pcy pcy is offline
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Quote:
Originally Posted by phlfly View Post
well, I went and got it for 3/36,000 miles for 3500 dollars. I think it will worth every penny, I think. Just front suspension components parts will be around 1,000 bucks and labor (100 an hour) another 700 bucks. Oil leaks is around 1000 bucks each on V8 engine.
Suspension components are not covered by extended warranties.

It is always good idea to read the fine print before buying any warranty - especially the exclusions section.
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  #11  
Old 02-20-2012, 10:23 AM
Phoenix1 Phoenix1 is offline
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Quote:
Originally Posted by pcy View Post
Suspension components are not covered by extended warranties.

It is always good idea to read the fine print before buying any warranty - especially the exclusions section.
----------------------------------------------------------------------------
Depends on the warranty...
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  #12  
Old 02-20-2012, 10:25 AM
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phlfly phlfly is offline
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Mine is covered all front suspension.
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  #13  
Old 02-21-2012, 05:15 AM
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mjsbmw mjsbmw is offline
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Quote:
Originally Posted by pcy View Post
Suspension components are not covered by extended warranties.

It is always good idea to read the fine print before buying any warranty - especially the exclusions section.
+1.

Too many extended warranties do not cover suspension and electronics (radio, nav, etc.). Just read the plan carefully. Buy an "exclusionary policy" which clearly states what is not covered so there is no misunderstandings. Worst case is to spend thousands and find out that some expensive items are excluded.

Also, many companies view suspension components as wear items and exclude them.
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  #14  
Old 02-21-2012, 10:58 AM
terrystu terrystu is online now
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Quote:
Originally Posted by Phoenix1 View Post
-----------------------------------------------------------------------------------
+1

That's what I did (opened a savings account with $50) in order to get a Route 66 "Easy Street" warranty. Bought it last month when my car was at 47 months 43K miles, gave me an additional 60 months or 100K total miles (whichever comes first) for $2400 including tax. I shopped around and no one could come close to the price/coverage.

Good luck!
If you don't mind my asking, was this with PenFed? I have been toying with the same idea. The price they are quoting for the "Easy Street" is $1895.00 for a premium vehicle. Did you add some option to bring it up to $2400.00? If you have had any claims so far, what is your level of satisfaction?

Thanks in advance.
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  #15  
Old 02-21-2012, 12:47 PM
Westlakeoh1 Westlakeoh1 is offline
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I've been asking around, both dealers, Indy and this board. One service tech at one of the two BMW dealers I spoke to didn't come off strongly on ANY aftermarket program, in fact, he sided with my Indy who didn't like any of the warranty companies. My Indy sats the warranty companies are more interested in ways to DENY covered claims than they are paying them. The second BMW dealer had a support sales gal call me offering a company called UAL that they preferred. UAL's best coverage was only 3yrs/36,000 for and for nearly $4K! The second dealer also warned of doing business with Penn because of their coverage.

What concerns me most about all of these warranties, is approving and paying for repairs. All the warranty coverages all have terms in the agreement requiring the presenting of reciepts showing you have had performed all manufactures scheduled service work as well as oil changes at 5k intervals...not sure if doing the scheduled maintenance yourself counts. I assume this where denials originate.

Of all the Extended Warranty companies I've spoke to so far, Carchex and The Auto Warranty Agency (Tech Choice) would be the ones I would choose from as they both are direct insured and cover wear & tear and mechanical bread down. (I haven't inquired with my credit union as an earlier poster suggested, though I will)

Finally, I still have not made a decision. Maybe it would be best to ask these companies to provide LOCAL claim examples or references. I still am interested if anyone on this board actually filed a claim and what their experience was. Maybe it is better to just bank the money as a rainy day fund.
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  #16  
Old 02-21-2012, 01:15 PM
Phoenix1 Phoenix1 is offline
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Quote:
Originally Posted by terrystu View Post
If you don't mind my asking, was this with PenFed? I have been toying with the same idea. The price they are quoting for the "Easy Street" is $1895.00 for a premium vehicle. Did you add some option to bring it up to $2400.00? If you have had any claims so far, what is your level of satisfaction?

Thanks in advance.
--------------------------------------------------------------------------------
NP - Base "Easy Street" warranty was ~$1500, premium for BMW 5 series turbo ~$600, tax on top.

Was through local CU named Affiniti which I could join by donating $5 to their land preservation charity...

No claims so far - my car is under factory warranty/maintenance for 2 MORE DAYS!!!

Some comments - the agreement does not cover repairs resulting in "...failure to perform maintenance recommended by the manufacturer." Not sure where people are getting 5/6 month oil changes - but that is not what is recommended by BMW. Shocks and Struts (which wear out) are not covered which is is normal, but other suspension components are...

BTW - what is the model, year and mileage of the car they quoted $1900 for?
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  #17  
Old 02-21-2012, 01:26 PM
terrystu terrystu is online now
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The vehicle quoted is a 2008 535xit with 79,000 miles, which I am in the process of buying. The fine print does say that you are required to keep up manufacturer's recommended maintenance, but since I do all my own work, I am wondering how I would prove that, other than my own hand-written records.

Guess I'll be wrestling with this a little while longer.
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  #18  
Old 02-21-2012, 01:40 PM
Phoenix1 Phoenix1 is offline
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Quote:
Originally Posted by terrystu View Post
The vehicle quoted is a 2008 535xit with 79,000 miles, which I am in the process of buying. The fine print does say that you are required to keep up manufacturer's recommended maintenance, but since I do all my own work, I am wondering how I would prove that, other than my own hand-written records.

Guess I'll be wrestling with this a little while longer.
-------------------------------------------------------------------------
KK - I only had 43K miles, so they will be covering me for an extra 36K miles...worth the extra $ for me.

In my agreement it states the agreement does not cover repairs resulting in "...failure to perform maintenance recommended by the manufacturer."

Not sure where people are getting 5/6 month oil changes - but that is not what is recommended by BMW. In the service manual the oil needs to be changed when told by the car/iDrive (service based) or every 12 months - whichever is sooner. I personally change every 7500 miles - unless iDrive tells me sooner.

I've sent an email to Mark Pelfrey @ Route 66 to clarify... you might want to get them to clarify DIY maintenance documentation...
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2014 Audi A7 Prestige E61 SOLD 10/4/13! [/B]- 2008 E61/Monaco Blue/Natural Brown/Premium/Sport/Logic 7/Sirius. Escort 9500ci, Dinan S2 Tune (378HP, 417 ft/lb Torque), RD Sport Sway Bars. Conti DW and Michelin Xi3 snows. LED Angel Eyes, Matt Black Grill. Ext warranty until 2017!!!, 67K miles. Original owner. Fanatically Maintained, BMWCCA Member. Jersey
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  #19  
Old 02-22-2012, 10:08 AM
FrancisV FrancisV is offline
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I analyze warranties, warranty companies and repair costs for a living. There are four levels of extended coverage you can purchase:

1) Exclusionary (a.k.a. bumper to bumper, luxury, new car, full coverage)
Covers about 95% to 98% of your out-of-pocket repair expenses and is the highest level of coverage possible. To qualify for this level of coverage your car needs to be up to 6 years old and under 60,000 miles. Exclusionary policies will never list any parts covered in the contract and only list the parts not covered or excluded (hence the term exclusionary). If you qualify, this is the policy to purchase.

2) Stated Component (a.k.a . comprehensive, major component)
Covers about 60% to 65% of your out-of-pocket repair expenses. Qualification averages less than 8 or 9 years old and under 100,000 miles. A stated component policy will have some level of coverage for every major mechanical and electrical system from engine, transmission, drive axle, steering , suspension, brakes, fuel system, air conditioning/heating to most major electrical components. Typically a good value for slightly older mid-mileage vehicles. This would also be a good choice if you recently purchased a used car and don't know the history.

3) Powertrain Plus (a.k.a. basic component, enhanced powertrain)
Covers about 20% to 25% of your out-of-pocket expenses. Qualification averages up to 10 years old and under 150,000 miles. Coverage typically includes engine, transmission, drive axle, fuel and water pumps, air conditioner and a handful of electronics like starter, alternator and window motors. This level of coverage is where your return on investment starts to become questionable. If you still owe money on your car or donít know the maintenance and repair history it would offer some value.

4) Powertrain (a.k.a. drivetrain)
Typically available for vehicles up to 12 years old and under 150,000 miles. This is only going to cover the engine, transmission and drive axle and is a last resort level of coverage. You should only purchase this if you absolutely must keep your car operational for financial reasons (you still owe a lot on the car and you need coverage for a catastrophic expensive failure that would leave the car unusable and leave you still making payments). You will more than likely never get a return on your investment with this policy. This is simply catastrophic insurance.

One note is even though a policy says it covers the engine and transmission, this is only the internally lubricated parts in the engine block and head or in the transmission case. Typically the main reasons an engine or transmission stops running is because of sensors, computers or electronics and these are not covered by a powertrain plus or powertrain policy.

Also no policy is going to cover normal maintenance and consumable items such as brake pads, hoses, filters, belts, shocks/struts, exhaust systems and clutch disks for manual transmissions.

There are a handful of other important items to look at in any coverage policy. The first and most important is direct insured. Direct insured means there is a third party independent insurance company who is not affiliated with the warranty company backing the policy. The third party insurance company must be AM Best A rated. Be leery of a company backed by a risk retention group (RRG).

The second most important is wear and tear. There are two types of policies you can purchase, mechanical breakdown or wear and tear. With a mechanical breakdown policy a part must physically break in order to be covered. Plus if it fails from wear it is not covered. A wear and tear policy is a much higher level of coverage and says if a part simply doesn't operate the way BMW intended, it is considered broken and covered. A wear and tear policy will also cover parts that fail from wear. Wear and tear is the highest level of coverage possible. To be true wear and tear coverage, it must state a failure includes wear and tear in the policy. This is a must for an exclusionary policy, a good value on a stated component plan but not always available, and almost never available on a powertrain plus or powertrain plan.

The third item is the limit of liability. Every policy is going to have a limit if liability that states how much the policy will pay out over the term of coverage. The better policies have a limit of the value of your vehicle when you purchase the policy. With some policies it will be the value of your car at the time of repair. The worst limit is an inclusive value at time of repair. This means they add up all of the repair costs since the policy started plus the repair you are currently in for and if this amount is greater than the value of your vehicle on that day, the repair is not paid for and the policy expires. Powertrain plus and powertrain policies usually have a stated dollar amount as the limit, i.e. $10,000.

There are also a few other things to look at: does it pay dealership labor rates, is overheating covered, are diagnostics paid for and is the repair shop paid directly.

There is a lot more to a policy than simply what it covers. What really separates a good policy from a bad is how repairs are covered. Most issues with warranties are the majority of people don't realize exactly what they purchased.

There are about eight companies in the country that have been in business for over 25 years, have impeccable insurance backing and excellent reputations for handling claims. There are about 60 companies with fairly reasonable coverage and insurance. And there are over 600 other companies you can purchase from with questionable coverage and limited or no insurance backing. The reason most shops don't care for extended warranties is because most of the time they have to deal with the rather questionable companies.

Also, just because you buy it from a dealer doesn't mean it's a good company or a good policy. It just means the dealer likes it because it's the most profitable for them. The same applies to coverage offered by credit unions, car insurance companies and roadside assistance companies.

The first rule in finding a good company is if you're being pressured to purchase immediately, walk away. This is not a company you want to deal with. Another sign is does the price keep coming down? No respectable company is going to pull this. The biggest giveaway is are they offering a discount? Not one major warranty company offers discounts. No mother's day discounts, no first time buyer discounts, no free gas cards, no money back at the end of the warranty. Run away from these companies. The bottom of the barrel are companies who advertise on radio or TV, or send something in the mail, or call you. No major warranty company advertises on TV and not one sends anything in the mail and they absolutely will not call.

Is it worth it? Obviously if a policy pays more in repairs than what you paid for it then it's worth it. Since you don't know what your repairs are going to be, you really need to look at this as any other type of insurance. I've never filed a claim on my homeowner's policy and after 30 years was it worth it. Absolutely, because it protected my investment in my house. If you bought a 5 year policy for $3,000 and in the end it only paid for $2,500 in repairs did you win? Absolutely. You would have had to pay the $2,500 without the policy. This means you protected your investment in your car for 5 years for only $500. That's a good value and a good investment. Buying from the wrong company or not buying the highest level of coverage you qualify for would be a poor investment.

Is putting $3,000 in the bank and self-insuring a good investment? That's not an investment, it's a gamble. If your head warps in two weeks there goes your $3,000 and you still have years of repairs to worry about. There is no such thing as self-insuring, either you get coverage or you don't. The basic concept of insurance is someone else has to gamble and not you.

Some people like insurance, some don't. But don't buy a warranty for peace of mind. Peace of mind has no real value. The only reason to buy a warranty is to protect your investment.

If you do purchase a policy, the most important point is you must maintain your car according to the manufacturer's guidelines and document that you have. This is not just for extended warranties. Most people don't realize it is also a requirement to maintain the original factory warranty. If you don't do the maintenance and document it, your factory warranty would also be voided. Also, with just about any warranty you can do the maintenance yourself if you'd like. Just keep your receipts and document the mileage.

One note for BMWs, a lot of policies require an oil service every 4 to 6 months or 3,000 to 5,000 miles. Ask for a rider to allow you to go by BMW's oil service recommendation.

If you want to learn more about extended warranties a very good resource is consumerautomotiveresearch.com.
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  #20  
Old 02-22-2012, 10:34 AM
Westlakeoh1 Westlakeoh1 is offline
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Location: Westlake OH
 
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Mein Auto: 2000 528i; 2005 545i
Quote:
Originally Posted by FrancisV View Post
I analyze warranties, warranty companies and repair costs for a living. There are four levels of extended coverage you can purchase:

1) Exclusionary (a.k.a. bumper to bumper, luxury, new car, full coverage)
Covers about 95% to 98% of your out-of-pocket repair expenses and is the highest level of coverage possible. To qualify for this level of coverage your car needs to be up to 6 years old and under 60,000 miles. Exclusionary policies will never list any parts covered in the contract and only list the parts not covered or excluded (hence the term exclusionary). If you qualify, this is the policy to purchase.

2) Stated Component (a.k.a . comprehensive, major component)
Covers about 60% to 65% of your out-of-pocket repair expenses. Qualification averages less than 8 or 9 years old and under 100,000 miles. A stated component policy will have some level of coverage for every major mechanical and electrical system from engine, transmission, drive axle, steering , suspension, brakes, fuel system, air conditioning/heating to most major electrical components. Typically a good value for slightly older mid-mileage vehicles. This would also be a good choice if you recently purchased a used car and don't know the history.

3) Powertrain Plus (a.k.a. basic component, enhanced powertrain)
Covers about 20% to 25% of your out-of-pocket expenses. Qualification averages up to 10 years old and under 150,000 miles. Coverage typically includes engine, transmission, drive axle, fuel and water pumps, air conditioner and a handful of electronics like starter, alternator and window motors. This level of coverage is where your return on investment starts to become questionable. If you still owe money on your car or donít know the maintenance and repair history it would offer some value.

4) Powertrain (a.k.a. drivetrain)
Typically available for vehicles up to 12 years old and under 150,000 miles. This is only going to cover the engine, transmission and drive axle and is a last resort level of coverage. You should only purchase this if you absolutely must keep your car operational for financial reasons (you still owe a lot on the car and you need coverage for a catastrophic expensive failure that would leave the car unusable and leave you still making payments). You will more than likely never get a return on your investment with this policy. This is simply catastrophic insurance.

One note is even though a policy says it covers the engine and transmission, this is only the internally lubricated parts in the engine block and head or in the transmission case. Typically the main reasons an engine or transmission stops running is because of sensors, computers or electronics and these are not covered by a powertrain plus or powertrain policy.

Also no policy is going to cover normal maintenance and consumable items such as brake pads, hoses, filters, belts, shocks/struts, exhaust systems and clutch disks for manual transmissions.

There are a handful of other important items to look at in any coverage policy. The first and most important is direct insured. Direct insured means there is a third party independent insurance company who is not affiliated with the warranty company backing the policy. The third party insurance company must be AM Best A rated. Be leery of a company backed by a risk retention group (RRG).

The second most important is wear and tear. There are two types of policies you can purchase, mechanical breakdown or wear and tear. With a mechanical breakdown policy a part must physically break in order to be covered. Plus if it fails from wear it is not covered. A wear and tear policy is a much higher level of coverage and says if a part simply doesn't operate the way BMW intended, it is considered broken and covered. A wear and tear policy will also cover parts that fail from wear. Wear and tear is the highest level of coverage possible. To be true wear and tear coverage, it must state a failure includes wear and tear in the policy. This is a must for an exclusionary policy, a good value on a stated component plan but not always available, and almost never available on a powertrain plus or powertrain plan.

The third item is the limit of liability. Every policy is going to have a limit if liability that states how much the policy will pay out over the term of coverage. The better policies have a limit of the value of your vehicle when you purchase the policy. With some policies it will be the value of your car at the time of repair. The worst limit is an inclusive value at time of repair. This means they add up all of the repair costs since the policy started plus the repair you are currently in for and if this amount is greater than the value of your vehicle on that day, the repair is not paid for and the policy expires. Powertrain plus and powertrain policies usually have a stated dollar amount as the limit, i.e. $10,000.

There are also a few other things to look at: does it pay dealership labor rates, is overheating covered, are diagnostics paid for and is the repair shop paid directly.

There is a lot more to a policy than simply what it covers. What really separates a good policy from a bad is how repairs are covered. Most issues with warranties are the majority of people don't realize exactly what they purchased.

There are about eight companies in the country that have been in business for over 25 years, have impeccable insurance backing and excellent reputations for handling claims. There are about 60 companies with fairly reasonable coverage and insurance. And there are over 600 other companies you can purchase from with questionable coverage and limited or no insurance backing. The reason most shops don't care for extended warranties is because most of the time they have to deal with the rather questionable companies.

Also, just because you buy it from a dealer doesn't mean it's a good company or a good policy. It just means the dealer likes it because it's the most profitable for them. The same applies to coverage offered by credit unions, car insurance companies and roadside assistance companies.

The first rule in finding a good company is if you're being pressured to purchase immediately, walk away. This is not a company you want to deal with. Another sign is does the price keep coming down? No respectable company is going to pull this. The biggest giveaway is are they offering a discount? Not one major warranty company offers discounts. No mother's day discounts, no first time buyer discounts, no free gas cards, no money back at the end of the warranty. Run away from these companies. The bottom of the barrel are companies who advertise on radio or TV, or send something in the mail, or call you. No major warranty company advertises on TV and not one sends anything in the mail and they absolutely will not call.

Is it worth it? Obviously if a policy pays more in repairs than what you paid for it then it's worth it. Since you don't know what your repairs are going to be, you really need to look at this as any other type of insurance. I've never filed a claim on my homeowner's policy and after 30 years was it worth it. Absolutely, because it protected my investment in my house. If you bought a 5 year policy for $3,000 and in the end it only paid for $2,500 in repairs did you win? Absolutely. You would have had to pay the $2,500 without the policy. This means you protected your investment in your car for 5 years for only $500. That's a good value and a good investment. Buying from the wrong company or not buying the highest level of coverage you qualify for would be a poor investment.

Is putting $3,000 in the bank and self-insuring a good investment? That's not an investment, it's a gamble. If your head warps in two weeks there goes your $3,000 and you still have years of repairs to worry about. There is no such thing as self-insuring, either you get coverage or you don't. The basic concept of insurance is someone else has to gamble and not you.

Some people like insurance, some don't. But don't buy a warranty for peace of mind. Peace of mind has no real value. The only reason to buy a warranty is to protect your investment.

If you do purchase a policy, the most important point is you must maintain your car according to the manufacturer's guidelines and document that you have. This is not just for extended warranties. Most people don't realize it is also a requirement to maintain the original factory warranty. If you don't do the maintenance and document it, your factory warranty would also be voided. Also, with just about any warranty you can do the maintenance yourself if you'd like. Just keep your receipts and document the mileage.

One note for BMWs, a lot of policies require an oil service every 4 to 6 months or 3,000 to 5,000 miles. Ask for a rider to allow you to go by BMW's oil service recommendation.

If you want to learn more about extended warranties a very good resource is consumerautomotiveresearch.com.
Great Info...thank you.
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  #21  
Old 02-22-2012, 11:10 AM
racingluxury racingluxury is offline
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Location: Houston
 
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Posts: 110
Mein Auto: 2008 550i
Damn worth it!! I had my tranny, active sway bar, and washer fluid pump just to name a few changed ever since I bought my extended warranty. The transmission alone was worth the warranty! Get it because BMW=Buy More Warranty! lol
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2008 550i, stock M-Tech bodykit, convenience package, comfort access, sports package, 2010 nav, bluetooth, Logic 7, ACS trunk spoiler, ACS roof spoiler, aluminum ///M sports pedals, X5 LED angel eyes, Luminics H3 Artic White turning lights, Luminics H7 Artic White fog lights, aFe Pro Dry S air filter, Full hyper white LEDs, 20" Lexani LSS-10 on Conticontact DW staggered, Full front clear mask.
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  #22  
Old 02-22-2012, 12:48 PM
terrystu terrystu is online now
Its how I roll
Location: New Hampshire
 
Join Date: Aug 2009
Posts: 250
Mein Auto: 1985 M635csi, 2008 535xit
Quote:
Originally Posted by racingluxury View Post
Damn worth it!! I had my tranny, active sway bar, and washer fluid pump just to name a few changed ever since I bought my extended warranty. The transmission alone was worth the warranty! Get it because BMW=Buy More Warranty! lol
What warranty company did you purchase from?
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  #23  
Old 02-22-2012, 03:05 PM
sampler sampler is offline
"Burning Rubber"
Location: Hawaii
 
Join Date: Dec 2011
Posts: 2
Mein Auto: 05' 545i
Worth it's weight

I just bought an 05' 545i back in December 11' and 3 weeks ago noticed oil accumulating in my parking stall. Set up a stop in at my Indy and the prognosis was VERY BAD. Valve timing covers, Alternator and the likes. I'm sure most of us have heard the long list that usually accompanies ANY leakage from these engines. Anyways, at time of purchase i took the hit and added on an Aftermarket GMAC Repair Advantage Select plan. It's been very beneficial. The repairs added up to the tune of $4,600.00 and with the warranty coverage I had to shell out about $856.00. The warranty company will try and negotiate rates, costs of parts and so on. Keep in mind that the cheaper you go on the warranty, the more they will try to lowball adjustments. Parts for these cars are NOT cheap. That's just fact. But, I was skeptical about its usefulness initially; and now I stand by the necessity of a GOOD one.
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  #24  
Old 02-22-2012, 04:09 PM
rolm rolm is offline
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Location: Toronto
 
Join Date: Mar 2010
Posts: 34
Mein Auto: 2010 X3
I have never bought any extended warranty on anything and I have never regret it. All extended warranties are a waste of money. Period.


There was an episode of the Simpsons to prove that homer was a moron they asked him 1 question "is and extended warranty worth the money he answered Yes That proved he was a moron.
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  #25  
Old 02-27-2012, 09:06 AM
racingluxury racingluxury is offline
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Location: Houston
 
Join Date: Nov 2010
Posts: 110
Mein Auto: 2008 550i
worth it

Quote:
Originally Posted by terrystu View Post
What warranty company did you purchase from?
I just got my car back again. Changed bushings. DTM pump, vaccum pump... over $2000...worth it at 67k? of course it is!!! Btw, I have Continuous Care Extended Warranty. Cost about $3500. I'm about to take it in again for the water pump change this week.
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2008 550i, stock M-Tech bodykit, convenience package, comfort access, sports package, 2010 nav, bluetooth, Logic 7, ACS trunk spoiler, ACS roof spoiler, aluminum ///M sports pedals, X5 LED angel eyes, Luminics H3 Artic White turning lights, Luminics H7 Artic White fog lights, aFe Pro Dry S air filter, Full hyper white LEDs, 20" Lexani LSS-10 on Conticontact DW staggered, Full front clear mask.
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