[Whit27]

Have a friend that has a 2011 X5 38i with roughly 80k miles on it. It has an extended warranty through BMW til Feb 2017.
Does anyone know if it's possibly to buy an extended warranty through a 3rd party?
And does the BMW extended warranty transfer on sale for the remainder?




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[ard]

Yes, but they can be somewhat limited in coverage and capricious in how they evaluate claims. Buying a warranty on a car with 85-90k miles and expecting bumper to bumper coverage is not happening....

Why do they need a warranty? What are they trying to protect against? major faiulres or the normal aging of a car at 100k+ miles?

 

[Whit27]

It's a resale question, does the extended warranty transfer?
And was curious on the extended warranty question for the person buying if they could have piece of mind for alittle longer at a price obviously.


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[ard]

It all depends on the actual 3rd party warranty they get...

IMO if they will be selling before the end of the existing warranty, then just tell buyers 'eligible for XYZ extended warranty'. I dont see buying a 3500-4500 warranty and expecting to recoup that at 1:1 on a used sale.


Its like doing a retail remodel on a kitchen to sell the house- you;ll ever make it back

 

[Whit27]

Ok let's say it this way,
The above vehicle is for sale and you or I wanted to buy it.
Does the extended factory warranty transfer over to the buyer?
And is it worth for the buyer to go buy a 3rd party warranty? Can this even happen?


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[ard]

Ok let's say it this way,
The above vehicle is for sale and you or I wanted to buy it.
Does the extended factory warranty transfer over to the buyer?
And is it worth for the buyer to go buy a 3rd party warranty? Can this even happen?

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Im getting confused.

There is no such thing as an extended FACTORY warranty. There is the orhinal factory BMW 4/50k warranty...and maybe a BMW extended warranty (which is BMW, not from the factory). Maybe pedantic, but to be clear....

I think...THINK..the BMW extended warranties ARE transferable. There may be a fee, not sure- there have been changes. Is this your question? Does the current extended warranty that is good until feb 2017transfer if sold? This would have been added like 2 years ago? I think it does transfer.

Lastly, is a 3rd part warranty- to kick in after a BMW extended warranty has ended- is this a value and do they exist??

yes they exist. Very odd warranties- as these cars are super high risk and policies tend to be either highly restrictive and managed OR total scams.

Are they worth it? Personally I dont think so- it is undeniable these cars will need SOME work at 90-130k. But you drop 3k on one and you are changing the crapshoot from "will may car break down' to 'will the warranty company cover anything'

 

[Whit27]

Ok so the reason I was asking is because my friend has offered to sell me his 2011 X5.
I went to the local dealer where I have a friend who is a sales rep there to get some info on this vehicle.

So it has BMW warranty to March 2017 or 100,000 miles.
It also has maintenance coverage till March 2017 or 100,000 miles.

He also said that I could purchase additional warranty from BMW in February 2017 if I do buy the car.

Which would give me piece of mind that I wouldn't have to deal with major issues for acouple years.

I drove the X5 all weekend and have worked out a deal to buy it, and basically getting it below what the trade in value is through BMW as my friend told me what the trade in value is for that specific X5 and it was $16,780, I told that to my friend and said because I want to get the longer warranty in 2017 would he take 15,900 for it..... He said you know what, sure why not, it's doesn't get driven, it's sits in the garage and he doesn't want to deal with doing a private sale listing, and his wife already took delivery of their new SUV.

So needless to say this will be mine and in my driveway next weekend.
So Happy!



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[ard]

So it has BMW warranty to March 2017 or 100,000 miles.

He also said that I could purchase additional warranty from BMW in February 2017 if I do buy the car.

The salesman is lying to you.

BMW sells NO warranty that will extend after the "first" extended warranty ends. Once the BMW extended warranty- either CPO or paid warranty- which extended the 4/50 to a 6/100 is done, thats it.

Either the SA was 'mistaken' or 'confused' or 'lying'.. pick one. (Dont feel bad, hes a salesman...)

Do keep in mind that this $17,000 car has the maintenance and repair costs of a $70,000 car. Im not saying its a bad deal... but you seem VERY concerned about costs, and there will be no 'BMW warranty' after 100k. Could be no-name 3rd party plans, but as discussed these are expensive and/or lots of exclusions.

 

[SoCaLE39]

Actually that's not entirely true ard and this was a surprise to myself as well. When I was selling my E60 M5 with 97k on it and well outside warranty, I had it inspected for a buyer who was looking to purchase a warranty sold by Crevier BMW. To my surprise they actually offer a warranty program for cars outside of warranty. If I recall there were three different levels and the costs weren't too bad. I'm not sure if it's something specifically offered by Penske dealerships but at the time it sounded very appealing. I never went any further as I had sold the car and picked up the X5 under an extended warranty but I can see if I can get more info from my contact over there.

 

[Whit27]

Actually that's not entirely true ard and this was a surprise to myself as well. When I was selling my E60 M5 with 97k on it and well outside warranty, I had it inspected for a buyer who was looking to purchase a warranty sold by Crevier BMW. To my surprise they actually offer a warranty program for cars outside of warranty. If I recall there were three different levels and the costs weren't too bad. I'm not sure if it's something specifically offered by Penske dealerships but at the time it sounded very appealing. I never went any further as I had sold the car and picked up the X5 under an extended warranty but I can see if I can get more info from my contact over there.

I would be interested in what info you get.
Later this week I will sit down with my friend at Monterey BMW and get info from him also.

Stay tuned

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[ard]

Actually that's not entirely true ard and this was a surprise to myself as well. When I was selling my E60 M5 with 97k on it and well outside warranty, I had it inspected for a buyer who was looking to purchase a warranty sold by Crevier BMW. To my surprise they actually offer a warranty program for cars outside of warranty. If I recall there were three different levels and the costs weren't too bad. I'm not sure if it's something specifically offered by Penske dealerships but at the time it sounded very appealing. I never went any further as I had sold the car and picked up the X5 under an extended warranty but I can see if I can get more info from my contact over there.

Right. These are penske warranties. Not BMW which was what the BMW salesman told him.

There are a few large dealers that offer warranties- and these can actually be good. Why? THEY HAVE SKIN IN THE GAME. Just like BMW. BMW doesnt want to have their warranties go belly up so they price them and adminsiter them to ensure it does sully their brand

Likewise penske or autonation or CarMax or other big guys want to make sure their warranty isnt on 60 minutes.

One common theme (I think) is that these are used cars that are very well inspected by the dealership that is ALSO underariting the insurance. By doing this they can protect the insurance plan agaisnt fraud and early/big claims.

But again, I was responding to the OP saying he could get a BMW warrant after 100k.

GL

 

[SoCaLE39]

I'll be heading into the dealership on Thursday so if I remember, I'll see what information I can get to share here.