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Discussion Starter · #1 · (Edited)
Has anybody here had positive or negative experiences with a third party warranty? If so, please share and let me know which one you have. I have done a little research into them and frankly have not read too many positive things. However, due diligence is called for here.

My situation is that after 6 months of searching, I am flying to pick up a 2012 E93 335is next Saturday from an auto broker. The car has 33k on the clock. The local BMW dealer has just gone through it and I spoke to the service manager who gave me assurances that the car looked well cared for and appears to be mechanically solid with no scary repair issues in its past.

It was previously a CPO vehicle with over a year remaining on the CPO warranty, but this warranty is not transferrable since I'm not buying from a private party or a BMW dealer. Having done a fair bit of research into these vehicles, I am aware of the most common issues. They don't scare me away from ownership outside of a warranty and I have the cash flow to support it if required. It also helps that I kept $5-$6k in my pocket by going with this 2012 vs. a similar 2013 that's still got 6 months of factory warranty on the books. But if there are good options for a third party warranty I might consider it.
 

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Has anybody here had positive or negative experiences with a third party warranty? If so, please share and let me know which one you have. I have done a little research into them and frankly have not read too many positive things. However, due diligence is called for here.

My situation is that after 6 months of searching, I am flying to pick up a 2012 E93 335is next Saturday from an auto broker. The car has 33k on the clock. The local BMW dealer has just gone through it and I spoke to the service manager who gave me assurances that the car looked well cared for and appears to be mechanically solid with no scary repair issues in its past.

It was previously a CPO vehicle with over a year remaining on the CPO warranty, but this warranty is not transferrable since I'm not buying from a private party or a BMW dealer. Having done a fair bit of research into these vehicles, I am aware of the most common issues. They don't scare me away from ownership outside of a warranty and I have the cash flow to support it if required. It also helps that I kept $5-$6k in my pocket by going with this 2012 vs. a similar 2013 that's still got 6 months of factory warranty on the books. But if there are good options for a third party warranty I might consider it.
I bought my car used and as the second owner bought a warranty because of all the other little parts that will go out on me due to the cars age. When I got my turbos replaced the dealer found other things wrong with the car and the warranty paid all of it. I have Route 66 and there is no deductible plus I can take the car wherever I want for servicing as long as it's ASE certified. And it includes thinks like towing and other features so I'm sure it will pay for itself. Last December my battery died and I bought one and installed in myself and had it coded, filed the claim, and was mailed a check no questions asked refunding me the full amount of parts and labor. My suspension is almost due for service but I'm getting 3rd party components installed and having the warranty cover all other joints, control arms, and bushings. It's definitely worth getting on a car like the 335. The extra money you have keep it for after your warranty expires and you should be good!

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Consider an extended warranty to simply be an insurance policy...
A) most drivers have to pay MORE premiums than their lifetime claims, vs.
B) small number of drivers have to get more value in lifetime claims vs, the premiums paid
C) insurance company gets to use your money in investments and get a sufficient return from those investments to offset the costs of repairs

If A+C > B, the insurance company stays in business
If A+C < B, the insurance company goes out of business
So the insurance company has to get A premiums larger while also getting a reasonable return (in spite of 1-5% returns today).

Yes, you hear about B drivers, but there are enough drivers in A to keep the insurance company in business.
 

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.

You pays yer money

You takes yer chances



BUT IF, on the other hand, you do DIY maintenance, you win admiration and save a nice bit o'cash.....either way do NOT patronize a dealer w/o mucho efectivo in hand....reputable Indy's the way to go. Be choosey! Not all Indy's are created equal:

 

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Discussion Starter · #5 · (Edited)
Yeah I usually DIY most common things. I've done brakes, shocks, wheel bearings, alternators, power distribution boxes, coil packs, plugs, wires, serp belts, various sensors, fuel filters, body work on fenders, bumpers, basic stuff like that. But you know, dropping an engine or tranny is not in my current repertoire so this would mainly be insurance against a catastrophic failure. Probably I'm not willing to pay the premium only for that low probability outcome but again, just trying to cover the bases and make the most informed decision possible.
 

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It has worked out for me. I went with a company called Zurich and that is who the used car dealer used where I bought my 09 328i. I negotiated somewhat but bought a 3 year 36,000 mile warranty for $2200. It has paid for itself. Recently replaced the oil pan and valve cover gaskets and the eccentric shaft seal. Cost was $1749 at the dealer. I have used another repair shop for a few other issues like the tensioner, belt, pulley and alternator. Overall I am estimating I came out at least $1500 ahead. I mainly bought the warranty for the water pump as they typically fail around 60-80K but mine hasn't so far at 83,700 miles. Go figure lol.
 
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