Non-BMW Extended Warranty

[Lambeau]

Has anyone had a positive experience with an extended warranty company not associated with BMW? I have 99,674 miles on my 2011 X5 35d and will be considering an extended warranty.
Thanks for any info!

[lanbrown]

Is it currently under a warranty? If not, that takes many options right off the table.

[ard]

An extended warranty on a 100k mile vehicle???

How can any company possibly write those policies, PAY CLAIMS, and stay in business?

[lanbrown]

With high premiums, high deductibles and lots of exclusions. I know there are a few companies that offer warranty extensions, but the vehicle has to be under an existing warranty before the new will takeover.

[ard]

^ us poor folks in CA have the CA department of insurance that prevents us from "benefiting" from these plans.



I should start Ards House of Warranty- covers any mfg defect, but excludes any failures related to long term wear. Oh, and I get to be the sole arbiter of cause and coverage.

[Lubehead]

Here's one way to look at it: Assuming that a new car comes with at least a $1000 monthly payment and also assuming your car is paid off, every month that goes by without a repair of some sort, puts that money in your pocket. Now figure that the warranty you'd like to exist would have to cost, oh, I don't know, $4k or so, by not spending that money puts another $4k in your pocket. Set aside $6k a year ( $500 a month) to cover whatever may come up and barring a transmission or catastrophic engine issue, your money ahead.

Of course, there's always the possibility something major will occur. Let's face it, it's a gamble. Your choice is liquidate now and go get another one and my sense is that will cost more that the gamble.

If of course a newer model is desired, than all bets are off as we all know there is no real justification as it is after all a want as opposed to a need.