07-29-2018, 06:48 AM | #1 |
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Extended Warranty Question for Canucks
I'm into my 3rd year with my M235xi ragtop and plan to replace it with the next gen 4 series ragtop when it comes out in 2020 (as my growing grandkids need a bit more legroom).
I will need the additional extended warranty period to get me to that point. As well, my M235 is going to my son and I would like to give him the benefit of some worry free warranty, so I'll probably want to opt for the platinum 3 yr 160K or 180K Km BMW extended warranty. The MSRP is in the $5300 - $5600 CAD range respectively for those configs. But I don't know if these rates are negotiable. Has anyone here had any positive experience in negotiating extended warranty rates down from MSRP? Given that there are over 10 BMW dealers in the GTA withing 60Km driving range, I'd be willing to do a bit of shopping around for the best deal if it is negotiable. TIA.
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07-30-2018, 11:15 AM | #2 |
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I looked into these platinum warranties when i picked up my m235i a month ago. Offered $4200 for 7 year 140km at BMW Toronto. However, after reading all the fine print in the contract I declined. It's a 3rd party warranty! They are not bumper to bumper warranties through BMW canada. You are better off putting $5000 into a bank account and pulling money as needed for repairs. These warranties are a SCAM. Good luck actually getting them to approve a repair.
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07-30-2018, 11:18 AM | #3 |
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The exclusions list is 3 pages long! With strange conditions such as having to install BMW approved tires or the warranty is void.
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07-30-2018, 03:02 PM | #4 | |
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Ltd., 1790 Matheson Boulevard, Suite C-3, Mississauga, ON"
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07-30-2018, 03:10 PM | #5 | |
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The BMW VSC brochure, which is only a summary overview of the plan, states: "5. Please consult your Contract for specific service contract details, including limitations and exclusions. 6. UNDER PLATINUM COVERAGE, ANY OF THE FOLLOWING PARTS ARE EXCLUDED: friction clutch disc, pressure plate and clutch release bearing, hinges, glass, glass framework and fastening adhesives, lenses, body parts and/or panels, alignment of body parts, flexible body parts, structural framework, convertible top framework, structural welds, removable hardtop assemblies, bumpers, trim, moldings, weather strips, door panels, door handles, door lock cylinders (other than ignition lock cylinders), tires, wheels, wheel rims, wheel covers, wheel balancing, wheel alignment, batteries (except for hybrid/electric batteries), spark plugs, distributor caps, wiper blades, brake pads, linings, rotors and drums, lights, headlamps, sealed beams, fuses, bulbs, LEDS, filters, lubricants, or fluids not replaced in conjunction with a covered repair, upholstery, carpet, vinyl and convertible tops, outside ornamentation, paint, chrome and other bright metal, sheet metal, freeze plugs, heater and radiator hoses, exhaust system, catalytic converter, software updates related to multimedia system (unless a “malfunction indicator” light is on, or your vehicle does not operate properly), and non-factory audio equipment. So looks like major components of my ragtop are excluded.
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07-30-2018, 03:46 PM | #6 |
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Yup. Looks like these warranties are generally 3rd party. My dealer offered first Canadian, which is one of the better ones. The warranty is essentially a continuation of the factory warranty as long as the factory warranty hasn't expired. Definitely read the exclusions. I had global insurance for warranty and they weren't particularly good...Most of the money you pay ends up going to the finance manager selling the insurance...That should tell you how "good" the actual warranty is.
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07-30-2018, 04:41 PM | #7 |
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Only insight I can give you is my small experience, when I baught my used 2015 M235i they offered me 8 years total (4yrs after original waranty) unlimited km's for around 4-4.5k. I could also opt for powertrain only wich was around 2.3k.
I eventually baught an additionnel 2yrs on powertrain only for around 1.1k since I plan to buy an M2 or something else in 2-3 summers (I still my original waranty until next March)
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07-30-2018, 04:45 PM | #8 |
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Yup. Looks like these warranties are generally 3rd party. My dealer offered first Canadian, which is one of the better ones. The warranty is essentially a continuation of the factory warranty as long as the factory warranty hasn't expired. Definitely read the exclusions. I had global insurance for warranty and they weren't particularly good...Most of the money you pay ends up going to the finance manager selling the insurance...That should tell you how "good" the actual warranty is.
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07-31-2018, 10:43 AM | #9 |
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Generally speaking, extended warranties for any product are not worth the money ... cars included. They are profit centres for the manufacturer, retailer, and insurer and the profits are substantial. They are pushed by dealers because the commissions are high and by the dealer finance reps because they spiffs are significant. In other words ... with everyone making money on them, what's the value proposition to you, the owner?
You are simply buying an insurance policy for peace of mind, nothing more. What's that worth? |
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07-31-2018, 02:05 PM | #10 | |
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!. If it covered everything, bumper to bumper like the OEM warranty, it'd be worth a lot - and I'd probably pay the full freight. 2. However, with it being a 3rd party insurer with a sheitload of exemptions and exclusions, it's worth about about one third the asking price.
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