550 gold warrenty you advice is needed :)

Purchased a gold warranty 4year 48000 miles for my 2006 bmw 550 msport with 53000 miles. However, i was happy to hear in the contract that i had 30 days to cancel for a full refund. Warranty costed me 3800. Talking to other people they sad it was pretty pricy. Dont like the fact that i paid so much money and it does not cover wear and tear. Do you guys know if warranty company would let me down grade to a silver plan? Further, you guys thnk warranty is work keeping? Thanks in advance for your opinion.

What is the diff between gold and silver? Hopefully not the coverage of electronic parts.... And YES warranty is definitely worth keeping, if you need more convincing just browse the forum and see all of the issues being reported you will be thankful that you have coverage.

Speaking of which, we bought extended warranty for my wife's Cadillac cts last year when we bought and 1 week ago we had to have it towed due to the infamous "engine power reduce" issue and turned out to be the fuel pump needing to be replaced which was covered by warranty.

Keep the warranty but check on the difference between them. Btw I also bought extended warranty when I got my 550i this past May.

i cant really tell the difference from reading the service contract icecream man. Maybe someone else on here might know.

what is the name of the warranty company? they may have a website to detail more information.

the link is below, cant really see the difference between gold and silver

http://www.orias.com/service%20contract%20brochure.pdf

Aftermarket warranties are like the lottery. A few people come out on top.

Most don't. That's how warranty companies stay in business.

Keep the gold, it covers everything while the other plans specifically lists the items/parts covered.

Hmm ice man, i still dont see the difference between the the gold and silver, guess i will check with the dealer next week. Only think it added to broshure in the gold area was assemblies.. Guess i will check with dear next week on it.

Originally Posted by Master Pierre

Hmm ice man, i still dont see the difference between the the gold and silver, guess i will check with the dealer next week. Only think it added to broshure in the gold area was assemblies.. Guess i will check with dear next week on it.

Did you scroll down to page 3? Do you notice how they list the individual car parts for the bronze and silver packages but for the gold they say "all" oem parts are covered. That's your difference right there.... Even between the silver and silver plus they list more parts being covered like the Electronic shift control module which is listed on the plus but not the regular silver plan.

Thanks ice man, all equipment beside wear and tear... i guess it worth keeping if thats the case another four years and will not have to worry to much.

Originally Posted by Master Pierre

Thanks ice man, all equipment beside wear and tear... i guess it worth keeping if thats the case another four years and will not have to worry to much.

Definitely worth keeping if the company is decent

Originally Posted by TRS550

Aftermarket warranties are like the lottery. A few people come out on top.

Most don't. That's how warranty companies stay in business.

I wouldn't quite say that. Most folks dont use a warranty enough to quantify it's purchase. THAT'S how warranty companies stay in business.

my 08 550 had 53k miles when i bought it it March this year. Got the top coverage extended warranty and also paid around $4k for it.

Tranny was replaced 2 weeks ago by the BMW dealership along with several oil leaks around the front engine cover and valve covers. All in all $11,700 in repairs. I say, well worth it!!

Yeah I decided to stay with it, better safe then sorry later on huh? but man how does a transmission on a 550 with 53k go bad? i had 198k on my 97 528i and it was still going strong when i sold it. I gambled and didnt get an extended warranty with my 97 bmw and came up ahead no major problems. but with all the technology in the 550 not taking that risk..

I have no idea.. started noticing that it was holding shifts too long and some surging at low RPM.