extended warranty

[adevster8]

what are your thoughts on extended warranties? Mine is ridiculously expensive at 3,500 bucks but i figured my x5 2010 4.8i has 82,000 miles so i thought i might as well keep it the first 90 days or so just in case as its prorated and can always cancel it. I've heard a lot of bashing on service plans but I'm wondering how expensive your 4.8i repairs have been? I'm leaning towards cancelling it but am kind of on the fence in case some large component goes down....

[AlpineX]

Originally Posted by adevster8

what are your thoughts on extended warranties? Mine is ridiculously expensive at 3,500 bucks but i figured my x5 2010 4.8i has 82,000 miles so i thought i might as well keep it the first 90 days or so just in case as its prorated and can always cancel it. I've heard a lot of bashing on service plans but I'm wondering how expensive your 4.8i repairs have been? I'm leaning towards cancelling it but am kind of on the fence in case some large component goes down....

How long is the term and does it include seals and gaskets? Otherwise sounds like a good strategy to ditch and get your $ back if you have no other concerns or are actually covered for what you are concerned about. For sure it's little or no electrical stuff at that mileage and age.

[adevster8]

2 years only which is pretty damn short but it includes pretty much everything from gaskets to electronics. A friend looked at the engine and said he thought he saw a little bit of oil residue. If it gets worse, something like that would be covered.

[AlpineX]

Did you have a PPI or PSI? (pre-purchase/post-sale)

[adevster8]

Prepurchase, i guess meaning i got it on top of the finance with interest. But it was still far cheaper then others ive looked into monthly.

[AlpineX]

There is no comparing apples to apples with aftermarket warranty coverages... you really have to read the fine print. For PPI and PSI I meant asking if you had a pre-purchase inspection or a post-sale inspection?

[adevster8]

Oh gotcha....post inspection but not an official diagnosis until wednesday. It was definitely an impulse buy but so far it runs great, new tires, m sport package....super happy with decision thus far and at the trade in price of my last car

[AlpineX]

Originally Posted by adevster8

Oh gotcha....post inspection but not an official diagnosis until wednesday. It was definitely an impulse buy but so far it runs great, new tires, m sport package....super happy with decision thus far and at the trade in price of my last car

Well yeah, that is a car that WILL put a smile on your face until it needs to go to the shop. Figure out your starting point, spend the next 3 days reading anything you can about N62 engine, pre LCI E70 issues, and your current warranty coverage. How your car is optioned will play an additional role in your repair liability. If it's all good the smile will get bigger.

[ard]

You bought a warranty on an 8 year old car that is 32k out of BMW warranty??? It is almost guaranteed to be a bad deal and very limited warranty

You speak of this like it is one 'thing'... 'A warranty'... And you got it for 3800... Others were more...

I would have sold you Ard's Super Diamond plan for only 3200. Covers everything.

I can count on two fingers the plans that don't suck for cars beyond the BMW warranty.

Your very best case scenario is you don't need it and all you passed away is 3200. Unlikely, I expect you will,Lenard about fine print and underwriting/coverage....

[adevster8]

its 3500, not 3800....it covers everything as well, read the find print and doesnt look like there will be any surprises but its still a lot of money. I just wanted to gauge how others 4.8i's have faired with 82,000 miles to see if its worth it. I realize it is highly subjective as well but repairs costs might be in the same ballpark so i figured i'd ask...