BMW Extended Warranty - take a look.

[four.8is]

Today i called my local BMW Bellevue dealership to get a quote on a extended warranty on my 06 4.8is
They gave me options but the full coverage which covers motor, transmission and electrical parts would cost me 4200$ for 3 years.

I either pay in full or pay 10% up front and then make payments of 105$ per month with no interest til the warranty expires.

Do you guys think its worth it?Im inclined to think it is.
The car was serviced at BMW Seattle its entire life before I bought it (1 owner car) and didnt have too many parts changed since new(have all the records)...Maybe to get covered for the next 3 years makes sense right?you never know..I've got 94k miles.

Also they said since I just bought the car and I already have records from the other dealership, they wont do any inspection before approval which is good enough news.

What is NOT covered : Maintenance parts: oil changes, brakes, tires.

Let me know what you guys think..Thanks!

[puddinboo]

just read the fine print, ask if you have to pay a deductable if so how much.how much miles you can put on, could be unlimited.

[JCL]

It depends entirely on you whether it is worth it or not.

BMW makes a profit selling these warranties, as they should. So they have considered the expected repair costs, less the deductibles, plus a profit. That is for the average vehicle at your mileage. If you expect to come out ahead, and think you will beat the odds, it is a losing game. Better to go to Vegas with that money. On average, your vehicle and others like it will cost less to repair than the cost of the policy.

The reason to buy insurance is for planning purposes, and peace of mind. This way the big surprises are taken out, and you know what the insurance policy will cost. If you can afford a single large repair (transmission, or something like that) out of cash on hand, then it makes sense to pass on it, and pay as you go. If a single large repair would not be affordable, then this policy can smooth out the bumps, but it comes at a cost.

You are the only one who can make that decision.

Yes, some people will say they came out ahead purchasing a similar policy. Good for them. On average, purchasers won't. That is how insurance works. Otherwise the insurance companies would be broke.

[bcredliner]

Originally Posted by JCL

It depends entirely on you whether it is worth it or not.

BMW makes a profit selling these warranties, as they should. So they have considered the expected repair costs, less the deductibles, plus a profit. That is for the average vehicle at your mileage. If you expect to come out ahead, and think you will beat the odds, it is a losing game. Better to go to Vegas with that money. On average, your vehicle and others like it will cost less to repair than the cost of the policy.

The reason to buy insurance is for planning purposes, and peace of mind. This way the big surprises are taken out, and you know what the insurance policy will cost. If you can afford a single large repair (transmission, or something like that) out of cash on hand, then it makes sense to pass on it, and pay as you go. If a single large repair would not be affordable, then this policy can smooth out the bumps, but it comes at a cost.

You are the only one who can make that decision.

Yes, some people will say they came out ahead purchasing a similar policy. Good for them. On average, purchasers won't. That is how insurance works. Otherwise the insurance companies would be broke.

And also agree with up all night--take 0 interest payments.

[four.8is]

Hmm I'm curious how much a tranny replacement would cost..I know my friend 4 years ago when he had his 2003 4.6is, with a similar warranty, had his tranny changed twice.He said he had on papers the repair estimated at 10k.(he was towing heavy trailers all day long and his drive style was also very hard on the tranny).
The thing is, speaking from past experience regarding my bmw's going over the 100k miles, something almost always needed to be changed and they weren't cheap repairs.And a $5k bill isn't something I'm looking forward to without being covered in the event of the tranny failure..really have to sleep on it and decide as soon as possible.
Thanks for your insight !

[upallnight]

Find out if the warranty is transferable. That will be a big selling point if you decide to sell. Since they aren't going to charge you interests go with the payment plan.

[///Bruce]

Not worth it. Paid $4k though Endurance. Four years or 100,000. ON TOP OF CURRENT MILEAGE. HAD 75k so it's 4/175000. 100 deductible.

Originally Posted by four.8is

Today i called my local BMW Bellevue dealership to get a quote on a extended warranty on my 06 4.8is
They gave me options but the full coverage which covers motor, transmission and electrical parts would cost me 4200$ for 3 years.

I either pay in full or pay 10% up front and then make payments of 105$ per month with no interest til the warranty expires.

Do you guys think its worth it?Im inclined to think it is.
The car was serviced at BMW Seattle its entire life before I bought it (1 owner car) and didnt have too many parts changed since new(have all the records)...Maybe to get covered for the next 3 years makes sense right?you never know..I've got 94k miles.

Also they said since I just bought the car and I already have records from the other dealership, they wont do any inspection before approval which is good enough news.

What is NOT covered : Maintenance parts: oil changes, brakes, tires.

Let me know what you guys think..Thanks!

[four.8is]

Originally Posted by ///Bruce

Not worth it. Paid $4k though Endurance. Four years or 100,000. ON TOP OF CURRENT MILEAGE. HAD 75k so it's 4/175000. 100 deductible.

Why not worth it?did you have no problems at all in 4 years or 100k miles?
No repairs at all?

[JCL]

Originally Posted by ///Bruce

Not worth it. Paid $4k though Endurance. Four years or 100,000. ON TOP OF CURRENT MILEAGE. HAD 75k so it's 4/175000. 100 deductible.

Which of the three Endurance programs did you purchase, the Secure, Superior, or Supreme? How has the claims process been, have they been good so far? Have they allowed the use of OE parts for your vehicle or are they requiring aftermarket repair parts?

[StephenVA]