Canada BMW Extended Warranty

[stefan]

Anyone thinking about the extended warranty for their 2011+?
Coverage One (what most Canadian BMW dealerships offer) is about $2500. The new BMW plan is arguably better in its coverage but costs $5400 for the M3. Thoughts?

[greg k.]

I want extended warranty for my 08 aswell.I'm confused though why such a huge price difference?What is covered in coverage one.My 08 only has 26000km

Greg

[stefan]

Originally Posted by greg k.

I want extended warranty for my 08 aswell.I'm confused though why such a huge price difference?What is covered in coverage one.My 08 only has 26000km

Greg

For starters, your car has to be 2011+. It has to be covered under the existing warranty as well, at the time of purchase. You're right though, the price discrepancy is massive. I suspect it has to do with the parts used to replace things (I'm betting coverage one does not use OEM, etc.) There's also a surcharge if you're >30 days into owning the car.

I attached details!

[m3tor]

Got a quote on extended warranty last month and fell off my chair. For an 08 I got quoted about $4500 for the plan my dealer is offering - Coverage One, 3 yrs or 60,000 addtl kms. That's the Coverage One Ultimate plan which seems to cover most stuff, including electrical, except wear & tear obviously. BMW dealer does the work with their techs and OEM parts, and Coverage One reimburses. But I figure you'd have to have something go pretty wrong to spend $4500 in 3 years... it obviously doesn't cover scheduled maintenance (I wonder if the new 11+ OEM plan covers that?) so you're paying for that plus brake pads etc on top of the $4500... I may not buy it - have until March to decide

[stefan]

Bumping this.. anyone manage to get a reasonable discount on a kit?

[stefan]

So it looks like this is now available on BMWshop.ca
Tried to add it to my cart to take advantage of the 25% off M survey code... Obviously, they thought of that and you can't do it.

But, we have an official price now. And it's not pretty

Year : 2011
Model : M3
Plan : 6 years / 200,000 kms -- $5774.00
Price : $5774.00
Tax : $288.7
Total : $6062.70

[schnell325]

What the heck, I didn't see any mention of a 25% coupon code when I received the survey.....

(Care to share it with me Stefan?)

[py0413]

discount never exists in canada. didn't we know that already? lol

[M3-Mike]

Originally Posted by m3tor

Got a quote on extended warranty last month and fell off my chair. For an 08 I got quoted about $4500 for the plan my dealer is offering - Coverage One, 3 yrs or 60,000 addtl kms. That's the Coverage One Ultimate plan which seems to cover most stuff, including electrical, except wear & tear obviously. BMW dealer does the work with their techs and OEM parts, and Coverage One reimburses. But I figure you'd have to have something go pretty wrong to spend $4500 in 3 years... it obviously doesn't cover scheduled maintenance (I wonder if the new 11+ OEM plan covers that?) so you're paying for that plus brake pads etc on top of the $4500... I may not buy it - have until March to decide

I too would like to get extended warranty for my 08.. seems like Coverage One is our only option as the BMW warranty is only available on newer cars?

Has anyone shopped around for Coverage One warranty? With my previous BMW I was able to save a bundle on extended warranty by haggling with various dealers, eventually paid $300 over their cost.

[fepat55]

M3- Milke
I had Coverage one on my 530 touring. I hated dealing with them . Every time i tried to make a claim they had another reason why they would only pay for the gaskets and not the parts. A real pita.
As far as extended warrenties go I got a quote on my '08 and was shocked by the price that i got from the local BMW dealer. This was for a Secure Drive ( by Soverign General Insurance ) warranty . I then started to phone other dealerships ( Lexus, Toyota, Mercedes etc). They all offered me warranties.
The differences between them is about a couple of things; coverage and how they deal with you if you make a claim.
I selected a couple that I though would be good to deal with;
They are S.A. L. (by Industrial Alliance ) that i could get from the local Lexus dealer.
As well there was Lions Gate ( which also is the same as secure drive ) but cheaper that is carried by Go Auto here in Edmonton.
All of these insurance companies are listed on the web and you can get their local agent from there.
The other stipulation that i had was that i had to purchase my warrenty at least one month before my 4 yr warranty expired otherwise the price rose dramatically.

The price of the warranty varied depended on the coverage, milage that I wanted to cover and the time that the coverage was in effect.
I selected 5 more years and 100,000 km extra. The cost was $3,474 with a $300.00 deductable. ( from SAL). Granted I only have 21,000 km on my car now.

[Puckmaster]

I've had no problems with Coverage One. I think a lot depends on where you bring your car. I bring mine to EEC Motors, and I have never had a issue with them.

[stefan]

Originally Posted by Puckmaster

I've had no problems with Coverage One. I think a lot depends on where you bring your car. I bring mine to EEC Motors, and I have never had a issue with them.

So do you recommend buying it elsewhere, or? I imagine the price is somewhat variable?

[Giccy]

Not very helpful at this stage but I bought Coverage One at the time of purchase as I was able to negotiate a hefty discount on the price you would otherwise have to pay.

In the least, it will help with resale if I want to offload the M.

Still curious to hear people's experience with Coverage One.

[Puckmaster]

I know that BMW will not negotiate. Even on Coverage One. But other places will. Just call around. I know the guys at EEC will. I got mine at a great price. And they also do all BMW work too. So, I'm happy.

[M3-Mike]

So the factory warranty on my 2008 M3 expired this month and I figured it would be good to get an extended warranty since I will likely keep the car for at least a few more years (been a great reliable fun car). Figured my research may help others...

BMW has their own extended warranty for M3's but it is only available on 2011 and newer cars, hence not an option for my 2008. Most of the BMW dealers seem to recommend Coverage One Ultimate so I decided to go with that. I had Coverage One before on an older BMW and found that most stuff that broke was covered, and usually the BMW dealers are helpful getting things approved as they of course want the work.

Next I found out that Coverage sells a "new" car warranty which extends your manufacturer's warranty by 3-4 years and also extends the mileage to say 120,000km in total. Optionally you can buy a "used" car warranty which doesn't extend but rather gives you 3 or 4 years and a certain number of kilometers. Apparently the coverage is otherwise identical as it is the same "Ultimate" plan. Interesting part is that the "used" warranty is actually a lot cheaper by $500 or more.. so I ended up going that route simply because of the price advantage.

Once I knew what I wanted to buy, I checked with several dealers. First dealer I went to was Budd's BMW in Oakville because that is where I bought my car. They quoted me $4,180 for a 48 month "used" warranty with 48,000km and a $200 deductible. After a bit of negotiating they offered me the warranty for $3,900. I then called two other dealers, Endras BMW and BMW Autohaus. Both of them quoted me $3,280 for the same warranty! I checked with Budd's if they could match but they were not willing. So I purchased the warranty at Endras, mainly because that is where I have done most of my service lately and they (as did Budd's) were therefore able to waive any requirements for a physical inspection of the car (which would cost me several hundred). BMW Autohaus needed to see the car, hence they were out.

So the lesson here is, shop around because there is huge markup on these warranties and some dealers are much more eager to get your business than others.

[WRXXX]

^^^So the extended warranty is 48months or additional 48,000km which ever comes 1st? 48,000km doesn't sound like a lot since most ppl will cover that in two years.

[Chriskm3]

Sounds like a good deal. My hid ballast went on my front rad light. After chafing the ballast with oem part I was informed that additionally my headlight module needs replacing. For a simple headlight buld fix the cost exceeds 1500. All of a sudden 4000 for extended warranty does not seem expensive

[swifty]

Is there any warranty you can get for an M3 that has already passed the MNFR's 4 years?