[Questofthetune]

I need some help!

So my beautiful warranty is coming to a close relatively soon, miles and time wise. I will be keeping this car so I'm wondering:

A) what's the best way to go for warranties like this from people's experience?

B) what do the BMW warranties ACTUALLY cover? (I've heard they exclude some major things)

I have friends with lifts and tools and have worked on all my cars / have a genius mech in the family so minor things do not scare me.

HOWEVER me and my SO are in our final stages of schooling (masters = huge expenses) for the next year and half and a big repair bill would be a disaster financially since most of my assets are not liquidatable quickly and also would tax me to kingdom come.

I am a peace of mind person but of the warranties don't cover much then that doesn't really help now does it?

[bimmerfile]

Here's a Consumer Reports article on the subject which you will undoubtedly find very interesting and relevant to your query:

https://www.consumerreports.org/exte...ensive-gamble/

[Questofthetune]

Originally Posted by bimmerfile

Here's a Consumer Reports article on the subject which you will undoubtedly find very interesting and relevant to your query:

https://www.consumerreports.org/exte...ensive-gamble/

This is perfect! Thank you.

[p912guy]

The Consumer Reports link was interesting. It pretty much confirmed what I have read, heard and experienced regarding "extended warranties". Over the years we have had them on some vehicles and skipped them on others. When we had them, they were always purchased with the initial purchase of the vehicle. Sometimes they proved to be a worthwhile purchase and other times not so much. Overall, I'd say we came out in the red.

Our most recent experience involved a used Nissan Titan which we owned nearly 7 years but only put a 50K miles on. The truck had 72K miles when we bought it and we purchased a warranty through the credit union (hard sell), which added 4 years of protection or 110K total miles, whichever came first. We had a few issues under warranty, but they were specifically excluded by the coverage, and then several expensive issues AFTER the extended warranty expired, to the point my wife had enough and gave me the green light to sell the truck while we could and get a new truck. I took that hint and ran with it and now we have our 2017 GMC Canyon Denali which I absolutely love.

Base on our most recent experience we opted not to purchase extended warranties on her new Q5, my new m235i or our new Canyon, figuring we could buy them later if any of the vehicles seemed to have repair issues. While all three are still nearly new, I am pleased to say they have all been issue free. Further, according to most research I've done on long term reliability, while Audi, BMW and GMC have all had reliability issues with some of their models, the Q5, 2 Series and Canyon all seem to fair better than average, so I think we'll take our chances and skip extended warranties this time.

[Questofthetune]

Originally Posted by p912guy

The Consumer Reports link was interesting. It pretty much confirmed what I have read, heard and experienced regarding "extended warranties". Over the years we have had them on some vehicles and skipped them on others. When we had them, they were always purchased with the initial purchase of the vehicle. Sometimes they proved to be a worthwhile purchase and other times not so much. Overall, I'd say we came out in the red.

Our most recent experience involved a used Nissan Titan which we owned nearly 7 years but only put a 50K miles on. The truck had 72K miles when we bought it and we purchased a warranty through the credit union (hard sell), which added 4 years of protection or 110K total miles, whichever came first. We had a few issues under warranty, but they were specifically excluded by the coverage, and then several expensive issues AFTER the extended warranty expired, to the point my wife had enough and gave me the green light to sell the truck while we could and get a new truck. I took that hint and ran with it and now we have our 2017 GMC Canyon Denali which I absolutely love.

Base on our most recent experience we opted not to purchase extended warranties on her new Q5, my new m235i or our new Canyon, figuring we could buy them later if any of the vehicles seemed to have repair issues. While all three are still nearly new, I am pleased to say they have all been issue free. Further, according to most research I've done on long term reliability, while Audi, BMW and GMC have all had reliability issues with some of their models, the Q5, 2 Series and Canyon all seem to fair better than average, so I think we'll take our chances and skip extended warranties this time.

It's a weird spot since Bmw as a whole isn't the greatest but the 2 series is rated fantastic in reliability and not just by the internet- my service advisor and my friends (techs that work at the dealership) all rave about the n55 and the 2 series platform. It's the reason I got mine over a 135is.

[p912guy]

Originally Posted by Questofthetune

It's a weird spot since Bmw as a whole isn't the greatest but the 2 series is rated fantastic in reliability and not just by the internet- my service advisor and my friends (techs that work at the dealership) all rave about the n55 and the 2 series platform. It's the reason I got mine over a 135is.

Agree, that's where I am. If if didn't have an m235i and had some other BMW, I'd probably be leaning more toward getting a warranty. The 3.0 TFSI in our Q5 is also one of the better rated / more reliable motors in the Audi famil so that's why I'm not too worried there either. The GMC is more of a question mark, but it's GM and not BMW or Audi, so repair and service costs, even if there are issues, are generally less $$.

While somewhat controversial, I also change oil every 5K miles and I never skimp on maintenance which I think improves my odds of keeping my engines running and reliable for 100K miles or more.

[DasPanda]

Thanks for the posts, I was just thinking about if getting extended warranty was going to be worth it or not. For the most part, think I will pass it up.

[msej449]

Sounds like you're fairly young, so one way to become comfortable with rejecting extended cover is to apply it to everything you have or ever will own. The only exceptions are driver's insurance (always gone full comprehensive) and building/contents cover on my home (always got it as the assets covered are such big numbers).

Otherwise, for at least 40 years, I've never taken out the warranty extension when it's been offered. This on refrigerators, TVs, computers, cars, MTBs, power tools, mobiles etc. etc. If I added-up all the money I've saved then it far outweighs even a gearbox replacement. But you have to look at it over the long term and of course, I have had the odd failure where it would have been convenient not to have had to pay out.

After about 5 years of non-extensions I felt that I'd got to the break-even point, after which I felt I was on much safer ground rejecting extensions as a default. Of course, like many things in life, there's no absolute certainty and I could have come off worse if something(s) big had gone in the early years.

[Questofthetune]

Originally Posted by msej449

Sounds like you're fairly young, so one way to become comfortable with rejecting extended cover is to apply it to everything you have or ever will own. The only exceptions are driver's insurance (always gone full comprehensive) and building/contents cover on my home (always got it as the assets covered are such big numbers).

Otherwise, for at least 40 years, I've never taken out the warranty extension when it's been offered. This on refrigerators, TVs, computers, cars, MTBs, power tools, mobiles etc. etc. If I added-up all the money I've saved then it far outweighs even a gearbox replacement. But you have to look at it over the long term and of course, I have had the odd failure where it would have been convenient not to have had to pay out.

After about 5 years of non-extensions I felt that I'd got to the break-even point, after which I felt I was on much safer ground rejecting extensions as a default. Of course, like many things in life, there's no absolute certainty and I could have come off worse if something(s) big had gone in the early years.

Very good points here, it seems just scary with a uninsured Bmw haha.

[Elvisfan]

Originally Posted by DasPanda

Thanks for the posts, I was just thinking about if getting extended warranty was going to be worth it or not. For the most part, think I will pass it up.

It's insurance. You hope you don't have to use it. But glad you have it when you have to. It's for piece of mind. Cars are one big computer. There is a lot of technology there. It's for piece of mind.

[delvec03]

...but what about the extended maintenance plan?

[9t2hoo]

I got the extended warranty on a 2008 335i. The warranty cost $3400 and I had $1700 in repairs that the warranty covered. In the 2 years after the warranty expired, I had about $7000 in repairs. The secret is to get out of these cars after about 7 years. Or, if you want to keep them for longer, just accept the fact that you will pay about half as much as you would buying a new car.

[Dylan86]

N55 is a solid engine, parts are everywhere and the enthusiast knowledge base is pretty strong. For that reason, along with the improved F chassis parts bin it's a pretty safe gamble to not opt for extended warranty. That, and because these cars are still a "bit" analog, I'd say it's a safe long term vehicle to own. Especially if it's RWD and more long term confidence with a MT.

[P2]

Just doing some rough math, I figure I would have shelled out 17k on extended warranties over the years in 2017 dollars. I spent zero on them however. Literally my only claim would have been on a Toyota engine rebuild which cost me $1500 (Toyota picked up $1000) in 1989. That's $3000 now. That was painful as a 2Lt as I well remember. I had my 2006 325 for 10 years. Every issue I had was under the original agreement or after any extended would have expired. So for me, over the long run, I've done well. The wise macro financial advice is to insure for the unaffordable loss. The losses that will wipe you out or just cost a hell of a lot of coin. Insurance for smaller items is far over priced.
My experience would have been the same with the maintenance plan on the 06. Premiums would have far exceeded expenses.

[Luftwaffe1O1]

I am in this situation myself, but I plan on getting the platinum extended warranty, its 7 years/100k miles and covers the cars electronics as well.

If you don't have Nav etc, I wouldn't bother, but while it is a few grand, it just comes down to hedging your bets. Its like having liability only on a 50k car. Would it save you a few grand over lets say 5 years? Probably, is the risk worth it?

These cars are fairly reliable, but for me, its the added convenience if something does break, or fail, just take it to the dealer, get a loaner, and be on my merry way. I have a Z3 that's LOOONG been out of warranty. I got it with 60k miles roughly, it has 205k now. Sure, the repairs are a lot cheaper when you go to an independent, but also less convenient. I usually need to find a ride home, and then to pick it up.

Then on top of that, if things start compounding you can feel your heart skip a beat. The extended BMW warranty is really just break down insurance. Basically break it down to the length of warranty, and what it would end up costing you monthly during that time vs price you paid. There is your breakdown insurance haha.

For some people its not worth it, for others it is. For me, personally, I think it is, especially if you are lets say, 300 miles from home, and something kicks the bucket, get it towed to nearest dealer, take a loaner and continue on your merry way.

What I would, however, stay away from, are a lot of aftermarket warranties, they are more or less a huge miss or the occasional hit. So take those with a grain of salt.

[CAMOETO]

Originally Posted by Luftwaffe1O1

I am in this situation myself, but I plan on getting the platinum extended warranty, its 7 years/100k miles and covers the cars electronics as well.

If you don't have Nav etc, I wouldn't bother, but while it is a few grand, it just comes down to hedging your bets. Its like having liability only on a 50k car. Would it save you a few grand over lets say 5 years? Probably, is the risk worth it?

These cars are fairly reliable, but for me, its the added convenience if something does break, or fail, just take it to the dealer, get a loaner, and be on my merry way. I have a Z3 that's LOOONG been out of warranty. I got it with 60k miles roughly, it has 205k now. Sure, the repairs are a lot cheaper when you go to an independent, but also less convenient. I usually need to find a ride home, and then to pick it up.

Then on top of that, if things start compounding you can feel your heart skip a beat. The extended BMW warranty is really just break down insurance. Basically break it down to the length of warranty, and what it would end up costing you monthly during that time vs price you paid. There is your breakdown insurance haha.

For some people its not worth it, for others it is. For me, personally, I think it is, especially if you are lets say, 300 miles from home, and something kicks the bucket, get it towed to nearest dealer, take a loaner and continue on your merry way.

What I would, however, stay away from, are a lot of aftermarket warranties, they are more or less a huge miss or the occasional hit. So take those with a grain of salt.

Agreed here. If any extended warranty is worth it, it's the BMW one. It mainly comes down to what you end up paying for it. Most modern BMWs are pretty reliable within their initial warranty period, or until they have about 50k miles on them. Then, a few small issues may start to crop up. A hub bearing here, a window regulator there, sensors going bad, etc. Those things typically run at least $500 to fix at the dealer.

Somebody posted in a different thread that one BMW dealer was offering the BMW Gold 6/100 plan on a 2014 M235i for $1300. This is the same plan as the 6/100 warranty that BMW puts on their CPO cars. I would take that offer if my car had > 40k miles on it when original warranty is expiring. This is based on a reasonable expectation (based on prior bwm ownership of myself and my friends) that a couple of $500 repairs per year are pretty much the norm from that point on. That way the warranty is likely to at least pay for itself as what you're buying is comprehensive coverage of everything that typically goes bad other than normal wear items and electronics. As an added bonus you get BMW loaners, don't need to fight with the insurance company on denying claims, etc.

On the other hand if the said extended warranty cost > $2k and I had a low mileage example (<35k miles when original warranty is expiring), I would probably not buy it.

[Questofthetune]

Originally Posted by CAMOETO

Agreed here. If any extended warranty is worth it, it's the BMW one. It mainly comes down to what you end up paying for it. Most modern BMWs are pretty reliable within their initial warranty period, or until they have about 50k miles on them. Then, a few small issues may start to crop up. A hub bearing here, a window regulator there, sensors going bad, etc. Those things typically run at least $500 to fix at the dealer.

Somebody posted in a different thread that one BMW dealer was offering the BMW Gold 6/100 plan on a 2014 M235i for $1300. This is the same plan as the 6/100 warranty that BMW puts on their CPO cars. I would take that offer if my car had > 40k miles on it when original warranty is expiring. This is based on a reasonable expectation (based on prior bwm ownership of myself and my friends) that a couple of $500 repairs per year are pretty much the norm from that point on. That way the warranty is likely to at least pay for itself as what you're buying is comprehensive coverage of everything that typically goes bad other than normal wear items and electronics. As an added bonus you get BMW loaners, don't need to fight with the insurance company on denying claims, etc.

On the other hand if the said extended warranty cost > $2k and I had a low mileage example (<35k miles when original warranty is expiring), I would probably not buy it.

Any idea what dealer was offering the 6/100 for 1300$? It's not a bad deal considering

[Luftwaffe1O1]

Originally Posted by CAMOETO

Agreed here. If any extended warranty is worth it, it's the BMW one. It mainly comes down to what you end up paying for it. Most modern BMWs are pretty reliable within their initial warranty period, or until they have about 50k miles on them. Then, a few small issues may start to crop up. A hub bearing here, a window regulator there, sensors going bad, etc. Those things typically run at least $500 to fix at the dealer.

Somebody posted in a different thread that one BMW dealer was offering the BMW Gold 6/100 plan on a 2014 M235i for $1300. This is the same plan as the 6/100 warranty that BMW puts on their CPO cars. I would take that offer if my car had > 40k miles on it when original warranty is expiring. This is based on a reasonable expectation (based on prior bwm ownership of myself and my friends) that a couple of $500 repairs per year are pretty much the norm from that point on. That way the warranty is likely to at least pay for itself as what you're buying is comprehensive coverage of everything that typically goes bad other than normal wear items and electronics. As an added bonus you get BMW loaners, don't need to fight with the insurance company on denying claims, etc.

On the other hand if the said extended warranty cost > $2k and I had a low mileage example (<35k miles when original warranty is expiring), I would probably not buy it.

This is a big one also guys, and a good time to point out, shop around for the warranty coverage, the dealer I initially bought my car from, tried to take me to the cleaners, I ended up telling them to piss off.

Let me give you a breakdown on what they offered me:

Platinum: 5600
Gold (same as CPO): 4300

Now here is the best part, so I asked them, how much to certify my car then? Get it CPOed, which would give me the gold warranty essentially, you would think that should cost more than the Gold warranty alone right?

They gave me a quote of... get this... $3600 WITH BRAND NEW TIRES....

So lets recap, minus the cost of new tires, about 1100, we are talking 2500 for the warranty alone.... now look above:

2500 for CPO, 4300 for the exact same warranty as gold.

Be very careful when shopping around they do mark these up quite a bit.

[knepsterd]

Warranty from bmw doesn't cover nav and other things read the fine print a waste of money for a 2 series. A m3, M6 , M5 yes.

[Questofthetune]

Originally Posted by knepsterd

Warranty from bmw doesn't cover nav and other things read the fine print a waste of money for a 2 series. A m3, M6 , M5 yes.

I think my large worries are the dynamic suspension and the drive train really- I wonder how those are covered under these levels of after warranty

[knepsterd]

If dynamic suspension goes you can probably lessen the out of pocket pain with straight spring or coilover retrofit. Lots of people do this on big rigs like range rovers and A8s, can't see why it can't be done on a Bimmer

[Maynard]

Originally Posted by P2

...... The wise macro financial advice is to insure for the unaffordable loss. The losses that will wipe you out or just cost a hell of a lot of coin. ....

There is too much on this car that counts as 'a hell of a lot of coin' for me to feel comfy w/o warranty. That hindsight math tends to minimize the increasing complexity of modern vs. older cars, or the apparent shift in engineering to design these as '7-year-appliances' (probably 4 if you ask marketing). And things tend to chain together - seldom is it just one part that needs replacement. Perhaps in the long run it is cheaper to skip these (unless you are the guy who's turbo spits a vane through the top of a piston), but the peace of mind is worth something too.