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#1
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Extended warranty question
Since I may keep this car for a long time, I am interested in buyng an extended warranty. The salesman quoted $3500 for the BMW version, but offered as an alternative an extended Toyota warranty for $2500 (the same dealer operates a Toyota dealership next door). He said that the BMW mechanics would still be the ones who do the work, ven under the Toyota extended warranty. I'm also considereing other third party extended warranty options. In running a search on this site, I see several references to extended warranties from Warranty Direct. I'd very much like to hear thoughts and comments (both good and bad) on these and any other alternatives. Thanks! |
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#2
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The dealer cost for the X3 on the BMW 2 year/50,000 Extended Warranty is $2000 and the suggested retail is $2750 according to this document - http://www.bmwmotorsports.org/pdf/B0...ranty+Plan.pdf Although this document is about a year and a half old, I doubt that the price has gone up that much - so it sounds like the salesman is setting himself up for a nice big commission check. Are you dealing with Dave Walters BMW in Akron?
Another thing to ask is if the warranty is transferable. If so, it could make the vehicle more marketable if it has an extended BMW warranty, versus a Toyota warranty. While your dealer may do both BMW's and Toyota's, if you are ever anywhere else in the U.S. and have a problem, it may be easier to get the problem address if you have a BMW warranty on a BMW. Finally, unless you have the ability to still negotiate this into the deal, it may not be a good idea to pay for something that you won't even be able to take advantage of for many years down the road. You can always explore getting an extended warranty as you get closer to the expiration of your OEM factory warranty.
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#3
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Parrothead:
Congrats on your new X3 and welcome to the Board...I would not buy any ext warr. at this point of ownership: you have 4 years to see if you really are gonna love the car/keep it, and you have full tilt boogie warr. coverage for that period. If you are really bored, hit search and read the latest litany of v.good info threads on Ext Warr. to be found on this board. Enjoy the car and come back and ask the ext warr question in late 2008: the "Ext Warr Field" may be very diff then. There is absolutley zero reason for you to buy any Ext Warr at this time, imo. GL,md
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#5
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parrothead...
What's the years/months & miles of the ext. warr. that you want??? And what's the deductible? When I bought my 02' I put on a 3/36,000 w/ a 100 dedct. and it cost me 1950.00 that was my cost!!!! I wish the previous owner would've put on a 7/100,00 or more on when they orginally bought it and then I would've paid to have it transfered to me...all the good warranty companies will do that. I deal w/ this stuff on a day-to-day basis....so if you have any questions..just let me know. I can tell you what's good and what's bad. (anything internet based) It's always cheaper to buy the VSC (Vehicle Service Contract) sooner rather than later. The prices on VSC's go up about a 125 per year and then they surcharge on the mileage of the car when you go to purchase it. Plus they are not retro-effective: meaning the warranty companies will only warranty up until a certain years and/or miles whichever you come to first. So when you wait 4 years to buy the VSC you've just cost yourself atleast 400 (price increase for 4 years) for less amount of warranty time. It's all insurance.....ask yourself this: Which policy is cheaper...the one for the 25 year old male or the 60 year old male. Obviously the 25 year old...we just do think were ever going to need it when were 25.
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#6
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Hi Bmergrl
What you say makes intuitive sense. It seems like the principle of adverse selection would naturally drive the price up as any vehicle ages. I'd like to get another 50k miles beyond BMW's automatic 4 year/50k warranty. I can be flexible on the deductible, but the lower the better. I am also vitally interested in seeing where it will be honored. Any advice you care to give (either in the thread or by private email) would be very welcome. |
#7
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As an owner of a CPOed X5 I would definately suggest going that route - assuming you get a much better price. The ease of taking the X into any BMW service center and knowing that everything can and will be fixed, no questions asked, is great. The deductible is only $50 as well. Good luck!
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#8
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Other options for extended warranty
GEICO (and probably many other insurers) has an extended warranty, and you can wait until the car is 15 months old to get it. It has a $250 per problem deductible but costs about 700 dollars in 25 dollar monthly installments, I think (though I or my memory could be wrong). Point is, it costs less and you can think about getting it later. I don't work for GEICO, by the way.
We did get the extended routine maintanance plan from the dealer. All oil changes, brakes, inspections for 7 yrs/ 100,000 miles. This was about $1200 (VERY nogotiable) and is less than the cost of the the recommended inspections and expected brake work over that extra time/mileage. If we do the Geico thing, the total cost for repair warranty and routine maintenance warranty will be less than dealer cost for the repair warrantly alone, as long as not too many mechanical problems crop up. I plan to drive the X3 for at least 10 years. My other cars are 22, 13 and 8 yrs old. I can't get rid of them---yet. (I have all 4 cars I have ever bought.) I buy cars I like, and the X3 has not disappointed in the first 2 months. Jon |
#9
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Yet another extended warranty question
If your car is CPO'd does that reduce the cost of an extended warranty? - assuming they both cover to the same # of years/miles.
One would assume that seeing as many big ticket items arecovered by CPO there is less liability and less cost for a full maintenance warranty????? Just curious |
#10
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Boston...
Tech. Yes. When a vehicle is certified it goes through a series of 'points' that gets checked out, if one of those points fails or is less than 50% the dealership has to replace that part. So when an underwriter gives a cost for the VSC the Cost is less understandably b/c the liability has just been reduced for the underwriter. In insurance cost = risk. However, whomever is selling the VSC can still charge whatever they would like to sell the VSC at....if the customer perceives more value then the customer might buy the VSC at too High of a Price. Cheers...
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2002 3.0 X5 Steel Grey w/ Black Int. & Light Maple Wood Trim Winter/Activity/Sport Clear Tail Lights & Sidemarkers 20" Breyton Magic Sports Wheels Brembo Rotors: Drilled w/ Axxis Deluxe Pads Chrome Exhaust Tips K&N Air Filter Front Windows Factory Match Tint XM Radio Ti kidney grilles/ Ti Hood Vents Bosch Icon Wipers UP NEXT: Cluster Rings / Angel Eyes w/ LED turn bulbs |
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