Quote:
Originally Posted by bayarea328xit
My credit union sells a very competitively priced MBI (mechanical breakdown insurance) policy - they will only include it if you finance the purchase through them. However, they will only finance a car with a purchase order/contract from a (CA/state) licensed dealer.
In order to get the MBI from my credit union, I paid a BS inspection fee to a local dealer so that they can issue the purchase order/contract. The purchase price was the end of lease residual value + $600 (dealer profit). In the past, BMWFS gave a residual discount to encourage lease buyouts - of course, that is no longer happening.
This still ended up being a lot cheaper than any other option for MBI/extended warranty coverage.
Note: the MBI coverage is pretty expansive/complete; however, using it to cover a breakdown will not be as seamless as a BMW extended warranty policy. I'm okay with that given the price.
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I'm not familiar with terms of the policy through your credit union but the BMW Platinum package is essentially a bumper-to-bumber warranty (I don't remember if it covers upholstery). Of course one can purchase lower levels of coverage for shorter periods of time and less miles. It just depends on the scope and duration of coverage.