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      09-30-2011, 03:52 PM   #1
Midwest X6
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So Out Of Warranty Owners:

What did you do?

Extended Warranty? Going without?

I don't put a ton of miles on my car, as it will be stored instead of seeing snow, ice and salt (spare me the garage queen lectures please!)

Was hoping I'd own this one a while, but after seeing extended warranty prices I'm starting to re-think that one...
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      09-30-2011, 04:01 PM   #2
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I have an e60 M5 and took the leap of faith and bought an extended BMW warranty. They have three levels, powertrain, gold, and platinum. I bought the platinum since it covers the most items, and is an exclusionary warranty in that what is listed on the contract is not covered. That way there isn't any room for debate.

I wouldn't have my M without it, haha. Luckily I have a good relationship with the SA and techs at the dealership I go to.

You may want to consider shopping around. I called various BMW dealers in my area, and went with the lowest one, and even got a sizable discount.

If you don't drive your car that much, then you may want to look at your service history, and if there is a pattern of warranty repairs, you may want to buy one. Also, you may want to go to a tech, have him look at the car, and see what he says may need replacing in due time.
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      09-30-2011, 04:07 PM   #3
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just mod it enough so you dont have a choice.
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      09-30-2011, 05:51 PM   #4
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      09-30-2011, 05:54 PM   #5
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Quote:
Originally Posted by chriszeh View Post
just mod it enough so you dont have a choice.
Hahahaha. Yes!!!
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      09-30-2011, 06:12 PM   #6
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i have 6 months left on warranty but trying to make sure no system on my car is untouched so im screwed if it blows.
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      10-01-2011, 08:27 AM   #7
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Bump.....

Any out of warranty (or soon to be out of warranty) owners want to chime in with useful perspective?

I see these posts of "keeping this one for life"...Isn't anyone concerned about owning one of these bad-boys out of warranty and how much that warranty costs??
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      10-01-2011, 10:47 AM   #8
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i am concerned about both things. i made the decision that the extended warranty wouldnt be worth it for me and that is why i have been modding at an increased rate now. I didnt think that extending for only 2 more years was much use if im keeping it for well longer than that. i will save the money on the warranty and use that if i need to perform repairs. im just crossing my fingers and hoping i dont pop an engine and the repair is fairly cheap. i did a poll about this a while back i believe.
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      10-01-2011, 11:49 AM   #9
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OP check this one out:

http://www.m3post.com/forums/showthr...light=warranty
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      10-01-2011, 12:03 PM   #10
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Quote:
Originally Posted by mdosu View Post
Perfect -- thx

What did you decide? You know, I'd have to consider the 7 yr/100000 pretty hard if my time was up right now
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      10-01-2011, 12:08 PM   #11
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i haven't bought one yet, I'm leaning towards not buying one at all. If I were, I'll buy the cheapest, Powertrain 7 year 70k.
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      10-01-2011, 02:12 PM   #12
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Red face You might want to get the extended warranty guy

Get the extended warranty because alot can go wrong within the next 50,000 miles. idle control valve, limp mode for any reason is bad because some of the Stealerships are dumb and don't know much when it comes to fixing a problem on this car and it can Cost $$$$, transmission problems, just to name a few I am glad I have a extended warranty it saved me plenty of times I have 55,000+ on my M3
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      10-01-2011, 02:23 PM   #13
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What people seem to forget is that a warranty costs more than the average cost of repairs over the life of the warranty. If it didn't every insurance company in the world would be out of business. We all know how little money insurance companies make; right? For every one person that gets his money back from the extended warranty there are two others that don't.

REPEAT AFTER ME:
An extended warranty is a sucker's bet.

Of course there are exceptions out there. The underwriters that wrote the Audi RS/6 warranties all took it in the shorts. CPO added a couple of grand and change to the cost of a used RS/6. No service on that engine (twin turbo V8) ever got out of the shop for less than $3k. Flat rate for an oxygen sensor change out was over $3k.
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      10-01-2011, 02:44 PM   #14
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I am without warranty for the last two years, no issues so far, but only 22,000 miles on my car.
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      10-01-2011, 02:53 PM   #15
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Quote:
Originally Posted by Radiation Joe View Post
What people seem to forget is that a warranty costs more than the average cost of repairs over the life of the warranty. If it didn't every insurance company in the world would be out of business. We all know how little money insurance companies make; right? For every one person that gets his money back from the extended warranty there are two others that don't.

REPEAT AFTER ME:
An extended warranty is a sucker's bet.

Of course there are exceptions out there. The underwriters that wrote the Audi RS/6 warranties all took it in the shorts. CPO added a couple of grand and change to the cost of a used RS/6. No service on that engine (twin turbo V8) ever got out of the shop for less than $3k. Flat rate for an oxygen sensor change out was over $3k.
Your logic is dead-on...The math may tilt more in someones favor depending on how long they keep the car, milage, how hard the car was driven etc..

I suppose it also just gets down to how much discretionary income one has to toss at a warranty and how much more sleep one will get having it.

I personally have some time, but some of the modding I do in the interim is somewhat predicated on how long I intend on keeping the car, so it's in the back of my mind today.
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      10-01-2011, 02:54 PM   #16
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Has your car had numerous previous warranty problems? If so, you should probably by an extended warranty or sell the car. If not, set the warranty money aside, and find a good independent mechanic in your area. Rates are significantly cheaper than stealership. You should come out ahead, I have on my past two M3s. Just my .02
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      10-01-2011, 02:59 PM   #17
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Quote:
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An extended warranty is a sucker's bet.
Indeed. I've never bought any extended warranty on anything, and so far, I"ve never needed one, so I'm WAY ahead of the numbers game. I'd have spent tens of thousands of dollars already.

Bottom line is the overwhelming odds are you'd NEVER get your money back out of an extended service contract (it's NOT a warranty). Unless you're in a dire financial situation, would use up ALL the miles, and your car has been problematic, I wouldn't even consider one. Plus you folks need to read the fine print better; most include a proration clause, which only makes sense: if a part is supposed to last 100K miles, and craps out at 70%, you'd only get 30% of the cost. And that 70% is usually more than using an independent shop (or DIY), meaning you threw thousands of dollars away for nothing. Do your homework . They're cash cows for dealers and sellers for a reason. Good luck.
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      10-01-2011, 03:17 PM   #18
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I'll be staring this in the face in about a year. I was planning on extending coverage but after seeing the pricing I've decided to just put the funds aside for repairs/maintenance.
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      10-02-2011, 02:56 PM   #19
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Dont forget, BMW CCA will list local reputable independent BMW repair centers that charge significantly less than the Dealers. They have all the diagnostic equipment, most have been master mechanics for BMW and will do aftermarket work like pulleys, exhausts, etc. Extended warranty isn't the only option.
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      10-02-2011, 03:13 PM   #20
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warranty is bullshit , they aint cover anything anyhow ..
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      10-03-2011, 12:36 AM   #21
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Quote:
Originally Posted by Radiation Joe View Post
What people seem to forget is that a warranty costs more than the average cost of repairs over the life of the warranty. If it didn't every insurance company in the world would be out of business. We all know how little money insurance companies make; right? For every one person that gets his money back from the extended warranty there are two others that don't.

REPEAT AFTER ME:
An extended warranty is a sucker's bet.

Of course there are exceptions out there. The underwriters that wrote the Audi RS/6 warranties all took it in the shorts. CPO added a couple of grand and change to the cost of a used RS/6. No service on that engine (twin turbo V8) ever got out of the shop for less than $3k. Flat rate for an oxygen sensor change out was over $3k.
It is not a sucker's bet, it is pooling risk and they are skimming of the top for profit.

What you get for your money is literally "insurance" against the risk of very very costly repairs. It's the same thing the collision coverage or even *gasp* health insurance.

What I (and I surmise the OP) want to know is what is the size of the risk? Am I look at a $25,000 bill if x happens? What are the odds?
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      10-03-2011, 02:00 AM   #22
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Quote:
Originally Posted by Radiation Joe View Post
What people seem to forget is that a warranty costs more than the average cost of repairs over the life of the warranty. If it didn't every insurance company in the world would be out of business. We all know how little money insurance companies make; right? For every one person that gets his money back from the extended warranty there are two others that don't.

REPEAT AFTER ME:
An extended warranty is a sucker's bet.

Of course there are exceptions out there. The underwriters that wrote the Audi RS/6 warranties all took it in the shorts. CPO added a couple of grand and change to the cost of a used RS/6. No service on that engine (twin turbo V8) ever got out of the shop for less than $3k. Flat rate for an oxygen sensor change out was over $3k.
+1
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