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Old 10-25-2009, 10:54 AM
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Extended Warranty Canada- Crazy price?

Has any fellow Canadians purchased an Extended Warranty? What was the cost and who is the provider? The BMW dealership is telling me that BMW does not offer extended warranty. They have quoted me a policy through Coverage One.

Ultimate $5,872.00- $100 deductable-another 80,000 KMS/48 months
Ultimate $6,979.00 -$50 deductable -another 80,000 KMS/48
Ultimate $8,559.00 -$100 deductable-160,000/84 month total months

These seem very expensive. Has anyone had any experience with this company and is there any negotiation room in the policy. The Dealer is telling me ( as usual) there is very little mark up.

THX.

BTW. I have 68,000 Kms on the vehicle.
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Old 10-25-2009, 11:32 AM
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THose prices seem like we (Canadians) are getting hosed. Haven't looked around and don't plan to yet - I've only got 18K..
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Old 10-26-2009, 12:13 PM
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That's pretty damn expensive - do people normally buy it?
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Old 10-26-2009, 03:33 PM
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Quote:
Originally Posted by Denalio View Post
Has any fellow Canadians purchased an Extended Warranty? What was the cost and who is the provider? The BMW dealership is telling me that BMW does not offer extended warranty. They have quoted me a policy through Coverage One.

Ultimate $5,872.00- $100 deductable-another 80,000 KMS/48 months
Ultimate $6,979.00 -$50 deductable -another 80,000 KMS/48
Ultimate $8,559.00 -$100 deductable-160,000/84 month total months

These seem very expensive. Has anyone had any experience with this company and is there any negotiation room in the policy. The Dealer is telling me ( as usual) there is very little mark up.

THX.

BTW. I have 68,000 Kms on the vehicle.
You're essentially placing a bet that you would otherwise spend $5,900 or more over the subsequent 80K km or 4 years.

If you follow Mike Miller (the tech guy at Roundel), you will recall that he says time is not the issue in BMW repairs but mileage is, so don't even consider it if you won't be doing that kind of mileage. My intuition is that people hear the bad new stories on forums and in magazines and assume this is the norm rather than the exception, and hence buy the package. Personally, I would not purchase these extended warranty programs, but I might consider putting the equivalent premium aside should such repairs come to fruition. It just depends how risk averse you are.
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