[haggag]

Hello all,
my 2015 m235i is at 48000 miles and I'm looking to have some sort of extended warranty. I called two BMW dealerships and they both quote me $6200 for the extra 3 years and up to 100,000 on the clock. is this normal? It just seems like an insane amount of money however they both quote me the same exact number and they said BMW warranty will not change in price from dealer to dealer, this is for the platinum coverage. Does anybody know if this amount seems normal or if there's a better way to get that warranty?

[Elvisfan]

Florida has state laws regulating extended warranties. The dealers must have great lobbyists. The only way to go cheaper is 3rd party online,I think.

[3rdcoast228i]

That really sucks, a lot would have to happen to break even on that deal. But sometimes peace of mind is worth it.

You didn't happen to get a quote on the gold coverage did you? I'm looking for something my self.

[haggag]

Originally Posted by 3rdcoast228i

That really sucks, a lot would have to happen to break even on that deal. But sometimes peace of mind is worth it.

You didn't happen to get a quote on the gold coverage did you? I'm looking for something my self.

Originally Posted by 3rdcoast228i

That really sucks, a lot would have to happen to break even on that deal. But sometimes peace of mind is worth it.

You didn't happen to get a quote on the gold coverage did you? I'm looking for something my self.

yeah I did but it was like $5800, so it's a small difference.

there is also an option to put 10 percent down and finance the rest over 18 months with no interest and no credit pull, but that's still like $350 a month

apparently there's a law on Florida where you can cancel extended warranty and get a pro rate refund on unused months, however I'm not sure exactly how it works and if existing claims make a difference but I may just go with this option

the bmw dealership also gave me a quote for a third party company and they said they never had a problem with them and it was $4600 for 3/+36000 with $250 deductible or $3800 with $500 deductible

If someone can please weigh in on this I'd really appreciate it guys!

[nathy228i]

Originally Posted by haggag

Hello all,
my 2015 m235i is at 48000 miles and I'm looking to have some sort of extended warranty. I called two BMW dealerships and they both quote me $6200 for the extra 3 years and up to 100,000 on the clock. is this normal? It just seems like an insane amount of money however they both quote me the same exact number and they said BMW warranty will not change in price from dealer to dealer, this is for the platinum coverage. Does anybody know if this amount seems normal or if there's a better way to get that warranty?

This is what I was quoted at a FL dealer for my 228i this week. It has currently 45k miles.

Platinum, extending coverage to (11/12/2019 or up to 75K) which ever comes first with a $50 deductible = $3,845
Platinum, extending coverage to (11/12/2020 or up to 100K) which ever comes first with a $50 deductible = $4,425**
Platinum, extending coverage to (11/12/2021 or up to 100K) which ever comes first with a $50 deductible = $4,935**

I also thought it was high and from reading past threads in this forum, I plan to call a few more places before I make a decision.

[p912guy]

Not quite apples to apples, since one is for a 235 and the other a 228, but I find it had to believe that could account for the difference in cost between $4935 and $6300. I have had "extended warrantys'" on some vehicles we have owned (caught at a weak moment by the finance person) and have gone without coverage most of the time. Based on my previous experience and current ownership with my m235i, even with BMW's reputation to be expensive outside of warranty, I think I'll take my chances with my m235. "Peace of mind" isn't worth $5K to my. That said, we have cash reserves to cover most common repairs and if the car were to start eating cash due to repairs, I think I'd fix it one last time and sell it.

[haggag]

Originally Posted by p912guy

Not quite apples to apples, since one is for a 235 and the other a 228, but I find it had to believe that could account for the difference in cost between $4935 and $6300. I have had "extended warrantys'" on some vehicles we have owned (caught at a weak moment by the finance person) and have gone without coverage most of the time. Based on my previous experience and current ownership with my m235i, even with BMW's reputation to be expensive outside of warranty, I think I'll take my chances with my m235. "Peace of mind" isn't worth $5K to my. That said, we have cash reserves to cover most common repairs and if the car were to start eating cash due to repairs, I think I'd fix it one last time and sell it.

Originally Posted by p912guy

Not quite apples to apples, since one is for a 235 and the other a 228, but I find it had to believe that could account for the difference in cost between $4935 and $6300. I have had "extended warrantys'" on some vehicles we have owned (caught at a weak moment by the finance person) and have gone without coverage most of the time. Based on my previous experience and current ownership with my m235i, even with BMW's reputation to be expensive outside of warranty, I think I'll take my chances with my m235. "Peace of mind" isn't worth $5K to my. That said, we have cash reserves to cover most common repairs and if the car were to start eating cash due to rep noairs, I think I'd fix it one last time and sell it.

yeah it's definitely a lot of coin. I guess it depends on the person. what worries me is stuff like transmission or air conditioner. any catastrophic failure that I may be unlucky to have. the problem is not little small things, it's huge catastrophic failure things plus peace of mind

[rmastbro]

Originally Posted by haggag

Hello all,
my 2015 m235i is at 48000 miles and I'm looking to have some sort of extended warranty. I called two BMW dealerships and they both quote me $6200 for the extra 3 years and up to 100,000 on the clock. is this normal? It just seems like an insane amount of money however they both quote me the same exact number and they said BMW warranty will not change in price from dealer to dealer, this is for the platinum coverage. Does anybody know if this amount seems normal or if there's a better way to get that warranty?

You need to call Steve Thomas BMW. There is a thread on here that provided me the information.

Spoke with the Finance Manager Kenisha Amar and got a awesome deal on a BMW extended warranty for my 2016 M235i last November.

$3979 - Plantium 7 year/100,000 ($50 deductible)

Steve Thomas BMW
411 Daily Dr
Camarillo CA 93010
805-482-8878

[jdgamble]

Have you looked into Fidelity? They're supposed to be good and I'm thinking they would be significantly cheaper. I have a contact who sells them for like a $200ish mark up from cost. Let me know if interested.

[haggag]

Originally Posted by jdgamble

Have you looked into Fidelity? They're supposed to be good and I'm thinking they would be significantly cheaper. I have a contact who sells them for like a $200ish mark up from cost. Let me know if interested.

Originally Posted by jdgamble

Have you looked into Fidelity? They're supposed to be good and I'm thinking they would be significantly cheaper. I have a contact who sells them for like a $200ish mark up from cost. Let me know if interested.

I haven't looked into fidelity, I was looking for either BMW or a third party if directly from the dealership I go to for ease of transaction

[Maynard]

Take the time. Do the site search. Wasn't that long ago. Lots of good info, on both BMW and aftermarket warranties. Personally wouldn't trust aftermarkets (and I think a warranty is pretty important peace of mind), but if you do, stick with one that lists the 'exclusions' specifically, not the 'covered items' in general terms. There are some brand rec's in that other thread, IIRC.

[haggag]

Originally Posted by Maynard

Take the time. Do the site search. Wasn't that long ago. Lots of good info, on both BMW and aftermarket warranties. Personally wouldn't trust aftermarkets (and I think a warranty is pretty important peace of mind), but if you do, stick with one that lists the 'exclusions' specifically, not the 'covered items' in general terms. There are some brand rec's in that other thread, IIRC.

thanks for the advice. I'll update if I find a good solution

[mr_clueless]

that sounds awfully high.

with my my2015 328i, a 7 yr/100k platinum was quoted at $3540 when i was at 48k miles.

i drive a lot of miles so i got the 5 yr/100k platinum and paid ~$2400. i also got the extended maintenance.

i'm at 79k+ miles now and so far haven't needed it, but i don't regret getting it.

i got a an even better quote from the finance guy at bmw of wilmington (based on recommendation in another forum) but he said they are not allowed to sell to people in ca.

[haggag]

Originally Posted by mr_clueless

that sounds awfully high.

with my MY2015 328i, a 7 yr/100k platinum was quoted at $3540 when i was at 48k miles.

i drive a lot of miles so i got the 5 yr/100k platinum and paid ~$2400.

i'm at 79k+ miles now and so far haven't needed it.

do you mean you got 6/100000? that's a lot cheaper than the 7 year.

I'm glad you didn't need yet, I think all these numbers are a lot but the peace of mind may be worth it, especially wig absurd repair prices.
I'm keep shopping around and see what I can find

[mr_clueless]

Originally Posted by haggag

do you mean you got 6/100000? that's a lot cheaper than the 7 year.

I'm glad you didn't need yet, I think all these numbers are a lot but the peace of mind may be worth it, especially wig absurd repair prices.
I'm keep shopping around and see what I can find

no, i got 5 yr/100k. i was at 48k after < 2.5 years. bmw offers 5,6,7 years each combined with 70k, 100k miles with each combination being offered as powertrain+, gold, platinum. so 3 x 2 x 3 = 18 different plans.

i got 6 yr/100k extended maintenance (adds 2 yrs/50k to original which at the time was 4 yr/50k; since my2016 it's only 3 yr/36k). maintenance is offered as +1/25k, +2/50k, or +3/75k. i decided maintenance without warranty wouldn't be useful for me so i got only the +2/50k. i plan to replace the car when i get to around 95k miles. i'll start shopping when i hit 90k.

you need to find someone who can send you a quote sheet of the msrp for all the plans for your vin. my local dealers never did that. i managed to get it from bimmerfest sponsor dealers. most dealers try to charge over msrp for these.

[haggag]

Originally Posted by mr_clueless

no, i got 5 yr/100k. i was at 48k after < 2.5 years. bmw offers 5,6,7 years each combined with 70k, 100k miles with each combination being offered as powertrain+, gold, platinum. so 3 x 2 x 3 = 18 different plans.

i got 6 yr/100k extended maintenance (adds 2 yrs/50k to original which at the time was 4 yr/50k; since my2016 it's only 3 yr/36k). maintenance is offered as +1/25k, +2/50k, or +3/75k. i decided maintenance without warranty wouldn't be useful for me so i got only the +2/50k. i plan to replace the car when i get to around 95k miles. i'll start shopping when i hit 90k.

you need to find someone who can send you a quote sheet of the msrp for all the plans for your vin. my local dealers never did that. i managed to get it from bimmerfest sponsor dealers. most dealers try to charge over msrp for these.

Oh ok I see. thank you I'll look into that

[Heitzer]

CNA National is a good option. I got 7years/150k for $4574 (2015 M235i)

It's sold through BMW dealers and I got the impression they handle it just like the BMW one. They allow disappearing deductible if you do the service with them.

I wanted a longer duration and mileage. What's the point otherwise? It's like getting health insurance only until age 40 .

[haggag]

Originally Posted by Heitzer

CNA National is a good option. I got 7years/150k for $4574 (2015 M235i)

It's sold through BMW dealers and I got the impression they handle it just like the BMW one. They allow disappearing deductible if you do the service with them.

I wanted a longer duration and mileage. What's the point otherwise? It's like getting health insurance only until age 40 .

Yeah 3rd party is sometimes good. however I understood that each dealer has their own 3rd party company that they sell warranty for

[Heitzer]

Seems to be sold only through dealer networks. A lot of BMW dealers have it, not sure if all and in all States. Here is some recent discussion on CNA
http://f10.m5post.com/forums/showthread.php?t=1421785

[Luftwaffe1O1]

I will give a +1 to Steve Thomas, bought my warranty from them the other day, they were pretty helpful, and definitely gave me the lowest quote.

[Lucky13]

It’s your money so you can do what you want but I just read a Consumer Reports study that said 55% of people that buy the extended warranty “never” use it and most others don’t end up spending what the warranty cost. 16 BMW’s and I never bought extended warranties. Dealers make a lot of profit or they wouldn't be pushing them.

[haggag]

Originally Posted by Lucky13

It's your money so you can do what you want but I just read a Consumer Reports study that said 55% of people that buy the extended warranty "never" use it and most others don't end up spending what the warranty cost. 16 BMW's and I never bought extended warranties. Dealers make a lot of profit or they wouldn't be pushing them.

Yeah I know I read that article too. It's the same thing as getting comprehensive insurance, most probably you won't use but if something happens you'd wish you had it

I normally don't care about warranty with cars or appliances but this is my first BMW and I'm not confident in the car, I am especially concerned about major repairs such as transmission or major engine repair, I don't want to be babying the car around, I just want to have peace of mind thing