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07-08-2019, 04:35 PM | #1 |
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Insurance and Extended Warranty
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Who has experience (and cost information) on the value of extended warranties and how claims went (if any filed)? I just obtained a 750i xDrive almost $8K below average market proce in my area with only 38K miles. So far, per CARFAX and the dealer search by VIN, there have been ZERO warranty repairs - except for replacement of the A/C Compressor back in 2016. |
07-09-2019, 04:54 AM | #2 |
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FWIW, I bought a 2016 with 50,000 miles on it a few months back. It was CPO'd, so still under that warranty until 5/31/21. I bought an extended warranty through my local BMW dealer to extend the CPO warranty another 3 years, with a max of 100,000 miles. I only drive about 9K per year, so I'll probably not hit that mileage number anyhow. The warranty is through Assurant who administers the BMW factory warranty. Total price for the extended warranty was $4507 and that gets me $0 deductible if I have the work done at my local dealer, and also was payable monthly over the course of a year with 0 interest. So officially I am prepaying an average of $125 per month for full warranty to cover me 3 years past my CPO. In the case of any major failure, it more than pays for itself. If the car never has any issues whatsoever, it paid for peace of mind that allowed me to sleep well during the next several years. haha
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07-18-2019, 11:02 AM | #3 |
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Drives: '16 G11 730d, '18 F33 420d Cab
Join Date: Dec 2017
Location: Bristol, UK
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I’ve just gone past my 50k miles and 3 year warranty cover on my 2016 730d here in the U.K. and other than the A/C compressor needing changing nothing needed to date but when I checked the extended warranty price for me it was a very unattractive £2,400 / year (which was the same as when I checked my previous 7 F01 back in the day so obviously said no!) I can save some on the side myself and accept the risk given this alternative! Looks like at least a better deal in the US...BTW, didn’t have any issues with my last F01 and it was 6 years old and had 113k on it when I traded it for the current G11. I do about 18k miles / year but mostly highway miles.
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07-18-2019, 11:51 AM | #4 | |
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07-19-2019, 04:13 AM | #5 | ||
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08-05-2019, 03:21 PM | #6 |
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Correct me if I'm wrong. Non-CPO extended warranties, whether purchased through a BMW dealer or third parties, are actually just an INSURANCE policy to cover the cost of repairs, much like accident insurances. As such, they usually carry a maximum total payout for the duration of the policy ($15k being a common number).
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08-05-2019, 05:54 PM | #7 | |
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08-05-2019, 06:00 PM | #8 | |
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01-02-2020, 08:02 PM | #10 |
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Be leery of all warranty companies outside of BMW itself. I learned this the hard way when I bought a 3rd party warranty through a Nissan dealership with one of my company vans. Was supposed to cover roadside assistance, wheel/tires, and any dents or dings that didn't require paintwork. I used the roadside a few times over about two years, but year by three I had some dents and a tire I needed replaced and get this: the place went out of business! No phone number, no new mailing address, nothing. All attempts to contact them were a dead end.
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01-09-2020, 12:29 PM | #11 |
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01-11-2020, 01:48 PM | #13 |
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I just purchased the 3 more years of the Gold warranty from BMW for $6,000. Covers everything except for the Infotainment system. Warranty does not cover maintenance though. That is an additional $3,000.
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experiences, insurance, warranty extended |
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