[fast5]

Hi All,

I just purchased a 2017 M240i Automatic from a non-BMW dealership. The car has <20k miles on it and is ~4 years old with 2 previous owners. I took the car for a pre-purchase inspection and the mechanic said everything looked great.

Seeing as the car is outside of its warranty period (2nd owner bought it as CPO), is there any reason for me to buy a $4k service plan? It would essentially cover all repairs with a $0 deductible for up to 60k miles. From what I’ve gathered, the B58 sounds like a relatively reliable engine.

I’ve read through multiple threads on reliability, but would deeply appreciate if anyone had any insights on potential issues that might justify the cost of such an expensive plan.

Thanks in advance!

[leftoverture]

Kind of a loaded question. There are a lot of considerations and everyone is different. If you do your own wrenching, and you're able to fix just about anything, then the answer is probably no. For me, I used to do all my own wrenching, but I'm older now and live in a condo so I gave up the wrenching. So when we bought our 228, I bought a warranty plan that will cover us up to about 97k miles. And it is a bumper to bumper plan so it covers much more than just the powertrain. It has a $100 deductible but only cost me around $3400.

[bthomas518]

Do they make boatloads of money off of extended warranties?

It's a bit of a gamble, but make no mistake, they have the house odds.

[pikcachu]

Originally Posted by fast5

Hi All,

I just purchased a 2017 M240i Automatic from a non-BMW dealership. The car has <20k miles on it and is ~4 years old with 2 previous owners. I took the car for a pre-purchase inspection and the mechanic said everything looked great.

Seeing as the car is outside of its warranty period (2nd owner bought it as CPO), is there any reason for me to buy a $4k service plan? It would essentially cover all repairs with a $0 deductible for up to 60k miles. From what I’ve gathered, the B58 sounds like a relatively reliable engine.

I’ve read through multiple threads on reliability, but would deeply appreciate if anyone had any insights on potential issues that might justify the cost of such an expensive plan.

Thanks in advance!

well oil filter housing gasket starts leaking at 50k miles... that's like $1000 job a the dealer...

Valve cover gasket and oil pan gasket leak about 80k...

water pump fail about 50-60k at times but this is something that you probably want to do in advance instead of wait for it to fail... so they won't cover that...

I had a knocking on the steering rack and they had to replace it under warranty but that would have been like $3k alone

[morphomeman]

According to Consumer Reports, the 2-series is the most reliable of BMWs and is fairly reliable even in comparison to other makes. And, as has been noted for years, these after-warranty insurance companies would not be in business if they did not make money.
Simplest solution, but the hardest to adhere to: put the money in the bank and don't take it out until you need it for a repair. It's called self-insurance and big organizations do it all the time.

[FCBuff]

Extended Warranty? maybe...I still say no

Maintenance? Never. My experience has been poor and definitely not worth it. Would never, and have never done it again. (paid for it it on a 2006 e53 X5). Not worth it.

They (dealers and BMW) are all to happy to take your money$$$, but when it comes down to paying out...well that is a different story.

Save your hard earned dollars. Do the maintenance yourself or pay as you go. You would have to spend $4,000 dollars in "maintenance" just to break even.

[leftoverture]

Originally Posted by morphomeman

According to Consumer Reports, the 2-series is the most reliable of BMWs and is fairly reliable even in comparison to other makes. And, as has been noted for years, these after-warranty insurance companies would not be in business if they did not make money.
Simplest solution, but the hardest to adhere to: put the money in the bank and don't take it out until you need it for a repair. It's called self-insurance and big organizations do it all the time.

This theory doesn't really work if the repair is big dollar...as in if the engine needs rebuilding or replacement. Most people just don't have that much money in savings or, it would wipe out their savings of they do. Extended warranties are like insurance. We always hope we don't need it, we all know the insurance companies make money off it, but we have to have it. (Though many would choose not to, so they had to make having it the law.) Some are not comfortable with the risk of large repairs, can't afford to self-insure, so they choose the assurance of an extended warranty. Which is likely financed in most cases.

[dradernh]

Originally Posted by leftoverture

This theory doesn't really work if the repair is big dollar...as in if the engine needs rebuilding or replacement. Most people just don't have that much money in savings or, it would wipe out their savings of they do. Extended warranties are like insurance. We always hope we don't need it, we all know the insurance companies make money off it, but we have to have it. (Though many would choose not to, so they had to make having it the law.) Some are not comfortable with the risk of large repairs, can't afford to self-insure, so they choose the assurance of an extended warranty. Which is likely financed in most cases.

^ This.

[Phillymb75]

I did it when I was a high mileage driver (3-4k/month), always got my money's worth.

If you're more of a normal mileage driver (1k/month) the odds are probably against you.

[Sportstick]

n=1 experience. I extended the warranty to 7/70 during the new purchase for a price in the mid $2k range. The 2015MY car was delivered in August of 2014. Summer of 2021 will be seven years and end of coverage. Haven't needed it.

[4Hockey4]

I've bought them when car is new, but I get it down to $850 (dealer makes like $100) and I get a 5yr/100K warranty. Anything over $2K I wouldn't do on used.

Also call around to a few dealers, there is well over 100% markup in those...big money maker when they hammer folks for $1,900 lol

Buying when car is used costs way more and why I paid a $2K premium for low mileage and CPO.

Good luck