Bimmerfest BMW banner

1 - 20 of 25 Posts

·
Registered
Joined
·
2 Posts
Discussion Starter #1
My factory warranty on my 2016 X5 Xdrive 50i runs to November 2020, but has expired due to 52,xxx miles. I am considering purchasing the BMW Platinum Extended Warranty ($7175 plus 7% tax) for coverage up to 100,000 miles or 3 additional years, whichever occurs first. My questions are:

1) Is BMW Extended Warranty cost fixed and so non-negotiable
2) Is there a payment plan/financing available
3) Is it transferable on sale
4) Is the cost prorated if the vehicle is sold before expiration
5) Any thoughts on cost effectiveness of buying this package
 

·
Nuclear engineer
02/2012 X5 35d M57Y CPO 98K miles NOKIAN WR G3 12K miles
Joined
·
16,925 Posts
[ ... ]
5) Any thoughts on cost effectiveness of buying this package
My thoughts on all warranties; all warranties are bets against the house, and the house never loses.

When the cost of the included warranty is inescapable, a sunk cost, then take maximum advantage of it.

When the cost of a warranty can be avoided then avoid the cost, bank the cost, earn the interest, earmark the principal for emergent repairs.
 

·
Registered
Joined
·
736 Posts
Just playing devil's advocate: there's more than one "house" in this equation. There's the local dealer's service department (who would love to charge $9000 to replace a dome light, if they could get away with it), and then there's BMWNA (who won't let them). Then you encounter retail phenomena like "shop hours" or "book time" vs. actual mechanic time. There are also "shop fees" of various sorts, and curious levels of pricing on parts, not all of which may be truly required. So having a warranty cuts through a couple layers of pricing nonsense, the way a sickle cuts through a field of grain.

I'm not saying BMWNA's warranty is a good deal (it's not, and I've been pretty emphatic that it remains their Achilles' heel). But, in fairness, a warranty takes the haggling out of each subsequent transaction.
 

·
Registered
Joined
·
401 Posts
As I am not privy to BMW' s warranty labor reimbusement rate nor to their warranty parts mark up on warranty it is hard to have an informed opinion. Dealers have; through lobbiests; legislated repair rates and parts charges..not all mfgrs abide by these nor probably should they. This is the opposite of free market pricing and if continued grocery chains will lobby for fixed prices that determine the prices of food that you consume. Just sayin'
 

·
Registered
Joined
·
7,357 Posts
My factory warranty on my 2016 X5 Xdrive 50i runs to November 2020, but has expired due to 52,xxx miles. I am considering purchasing the BMW Platinum Extended Warranty ($7175 plus 7% tax) for coverage up to 100,000 miles or 3 additional years, whichever occurs first. My questions are:

1) Is BMW Extended Warranty cost fixed and so non-negotiable
2) Is there a payment plan/financing available
3) Is it transferable on sale
4) Is the cost prorated if the vehicle is sold before expiration
5) Any thoughts on cost effectiveness of buying this package
1) Everything is negotiable, and you have nothing to lose in trying, but my dealer said "no"
2) Doubtful, but up to each individual dealership
3) Yes, but I think there may be a small fee to do so ($50?)
4) No
5) Its a warranty, it gives you peace of mind. Two options: bank the money in a "rainy day" fund, or consider a lower cost, third party option, such as CoverageOne, which (in my quick research) has a decent reputation. I opted for third party from CoverageOne. I negotiated the cost, and it is transferable. My cost was only $2800 (with tax) for two years taking me to a total of 6 years/100k on a 2018 M550ix. My BMW dealer offered me both options, but felt the CoverageOne was the better value. I'm sure my dealer makes more money on the CoverageOne warranty, so what? I just want a reputable product and service at a reasonable price.

My opinion is $7200 for three years is tough to justify. While BMWs have expensive repairs, that would take a significant one to spend that much. My bet is $2800 for two years...if I get even one repair, I will at least break even... and with the N63 engine, I wanted to hedge my bets. Just wanted to share my thought process...
 

·
Glfbggy
Joined
·
588 Posts
I'm in the same camp as Doug, Bank the money and self insure/warranty.
 

·
I'd keep playing!
Joined
·
356 Posts
We have a 2014 X5 xDrive 3.5 and it now has 148,000 miles on it.

We had one major repair after it was out of warranty (A/C had a leak under the dashboard) and it cost about $3500 to repair because of the amount of labor to remove and replace the dashboard. I think this happened at about 80,000 miles.
 

·
Officially a BMW Addict
Joined
·
849 Posts
7k for only 3 additional years is a total rip off....Look for a third party.
 

·
Registered
Joined
·
64 Posts
My factory warranty on my 2016 X5 Xdrive 50i runs to November 2020, but has expired due to 52,xxx miles. I am considering purchasing the BMW Platinum Extended Warranty ($7175 plus 7% tax) for coverage up to 100,000 miles or 3 additional years, whichever occurs first. My questions are:

1) Is BMW Extended Warranty cost fixed and so non-negotiable
2) Is there a payment plan/financing available
3) Is it transferable on sale
4) Is the cost prorated if the vehicle is sold before expiration
5) Any thoughts on cost effectiveness of buying this package
As mentioned elsewhere, $7175 plus 7% tax for coverage up to 100,000 miles or 3 additional years is a ripoff.
 

·
Registered
Joined
·
30 Posts
I signed a 48 month, 48000 mile service contract with Endurance. Our 2017 x5 50i already has 74k on the odometer, so I am betting on a big bill within the next two years to justify $6k plan, paid month to month.
 

·
Officially a BMW Addict
Joined
·
849 Posts
I signed a 48 month, 48000 mile service contract with Endurance. Our 2017 x5 50i already has 74k on the odometer, so I am betting on a big bill within the next two years to justify $6k plan, paid month to month.
You might want to cancel that. Endurance is the worst third party warranty....
 

·
Officially a BMW Addict
Joined
·
849 Posts
Interesting. Thanks. Also, $6k for 48 month, 48000 mile sounds like a expensive proposition.
Also endurance has a total cap on repairs as well. I would NOT recommend them on a BMW
 

·
Registered
Joined
·
30 Posts
I don't know if they're the worst or not, but finding a 3rd party service contract that will extend past 100k mileage was proving to be difficult. That said, now that I have modifications I can probably assume there's no coverage under the hood, unless it was A/C or brake related.
 

·
Officially a BMW Addict
Joined
·
849 Posts
I don't know if they're the worst or not, but finding a 3rd party service contract that will extend past 100k mileage was proving to be difficult. That said, now that I have modifications I can probably assume there's no coverage under the hood, unless it was A/C or brake related.
Yes very hard to find one that will ADD 100k, unless it is bought when car has very low miles. Coverage bought after car has 100k is possible but obviously expensive and less coverage BUT still available.
 

·
Registered
Joined
·
6 Posts
I have Car Check. I have 83000 miles on a 35d. I pay $198/mo for 24 months and coverage for three years or 100,000 miles whichever comes first. This is my second policy with them.


Sent from my iPhone using Bimmerfest
 

·
Officially a BMW Addict
Joined
·
849 Posts
I have Car Check. I have 83000 miles on a 35d. I pay $198/mo for 24 months and coverage for three years or 100,000 miles whichever comes first. This is my second policy with them.


Sent from my iPhone using Bimmerfest
You pay too much for only +3 years
 

·
Registered
Joined
·
64 Posts
I have Car Check. I have 83000 miles on a 35d. I pay $198/mo for 24 months and coverage for three years or 100,000 miles whichever comes first. This is my second policy with them.


Sent from my iPhone using Bimmerfest
You are betting against the house. Auto send $200 to a savings account. Two years, you'll have ~$5000
 

·
Registered
Joined
·
1 Posts
Extended Warranties / NOT WISEchoice

Had my warranties for the 1st, 5mos. and had to cancel it since I would probably not use it...Paid $1K, got refunded $487, (1yr/12K)...Save your money, invest it...would be the best bit...
 
1 - 20 of 25 Posts
Top