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#1
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BMW CPO vs Aftermarket warranty??
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#2
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aftermarket warranty should cover about 75%, if you get a decent one.
CPO will cover about 10% |
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#3
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Just to clarify, so that means I would be better off buying a cheaper X5 that doesn't have a warranty and then buying an aftermarket warranty? Wow, I'm surprised to hear that. Anyone else agree or disagree??
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#4
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absolutely. I think CPO is the biggest waste of money on earth. I'm always preaching that people should save on the CPO and put the difference toward a good aftermarket warranty. It's incredible what they don't cover.
but, purely my opinion
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#5
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I wouldn't get an aftermarket warranty. I would get a CPO warranty.
__________________
2007 X3 3.0si, 6 MT, Premium, White Retired: 2008 535i, 6 MT, M Sport, Premium, Space Grey 2003 X5 3.0 Steptronic, Premium, Titanium Silver 2002 325xi 5 MT, Steel Grey 2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue |
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#6
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I wouldn't agree with this statement and I think it's a complete exaggeration.
I wouldn't buy a BMW without CPO personally. As far as aftermarket warranties go, there are quite a few companies providing them and they all have different levels of coverage. My suggestion is to call up the dealer or shop you'll be taking your car in for repair and ask they what they recommend. Quote:
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#7
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Appreciate all the feedback. At this point I'm not sure what to do. I found a 4.8is I like in the upper 20s with no warranty. I also found a 4.6is in the low 20s with CPO warranty. Thoughts?? I previously owned a 2002 M5 which did not have a warranty. I never had any big problems with the car. I've heard X5s are not as reliable though.
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#8
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I did a lot of shopping for an aftermarket warranty when I was looking at a 335i, and from all the major warranty companies, there were ALWAYS stipulations on how the parts were covered. They are in business to MAKE money, not stand behind their product such as a CPO (Why did BMW release CPO to 06+ M5's? To show they stand behind the product). Aftermarket warranties are also at least 3000-4000 for a decent one.
I'm sure if you blew your engine/trans under CPO vs. an aftermarket company, you WILL have more difficulty. Plus you get a BMW loaner as a CPO, options for financing (I got 0.9%) for buying from dealer. Compare that to the 5% you will get through traditional bank financing, and you are saving an additional 2K+ on the car. If you are buying it out with cash, low financing can still be an option, as you can keep your $ in a bank, and put into CD's with higher %. Downside are the smaller items are not covered under CPO, but we have a great informational board here. If your vehicle is not eligable for a CPO, call your local dealership, and find out which warranty service they use. Many around my area use Easy Care. Then you know they don't have any communication issues, payments are direct, etc.... |
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#9
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As a person that carried 3 CPO warranties and had BMW actually cover over $7G's in CPO repair, I'm not getting the "CPO covers 10% and is not worth it" lines. Just an FYI.
__________________
An unwavering defender of those I see worth protecting. "promote the general welfare, not provide the general welfare" We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. |
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#10
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Quote:
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