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      03-21-2017, 11:52 PM   #1
BayMoWe335
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Do You Buy Extended Warranties?

Specifically, I am wondering if you buy an extended warranty on a car?

Do you buy an extended warranty on anything else?
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      03-22-2017, 05:48 AM   #2
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Yes, for my 4 I'd bought one year extended warranty and had used it twice.
Would do so for my next new car, couldnt bought cheaper as at buy it at ordering. And this also raises the amount at reselling.
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      03-22-2017, 07:09 AM   #3
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we sell a ton of ext warranties to forum members every month. If you plan on keeping the car it def makes sense.
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      03-22-2017, 07:15 AM   #4
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I did buy an extended warranty for my M3 which has paid for itself but for other things, no I don't buy warranties. Most consumer items, particularly electronics fail quickly if they are going to fail, usually under the manufacturer's warranty.
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      03-22-2017, 07:41 AM   #5
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Quote:
Originally Posted by GOLFFRR View Post
we sell a ton of ext warranties to forum members every month. If you plan on keeping the car it def makes sense.
How do I go about getting a quote for an ext. warranty? Im ballparking now for when I expire next year.
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      03-22-2017, 07:53 AM   #6
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Originally Posted by Questofthetune View Post
How do I go about getting a quote for an ext. warranty? Im ballparking now for when I expire next year.
Have to say that I may be considering this myself given all the minor issues with these cars and the potential for a more serious issue hitting me out of warranty - thought I recalled that you had the option to buy extended coverage late in your warranty period without an additional penalty but probably got this wrong - have not enquired further as yet but interested in the latest info on this too.
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      03-22-2017, 08:16 AM   #7
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Quote:
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How do I go about getting a quote for an ext. warranty? Im ballparking now for when I expire next year.
You would contact a dealer, give them your vin number and they will let you know what you qualify for and what the cost would be. cost will vary dealer to dealer as there are margins in those. If you would like a quote from us you would just call the store and ask for Jim Martinez in Finance and let him know you're a forum member.
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      03-22-2017, 08:20 AM   #8
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Depends on the car. The 128 didn't get an extended warranty because it's been fairly simple to work on being an N/A car. If I had gotten a 135 or something nicer than a 128 probably would have opted for an extended warranty.

170k+ miles and all I've had to do was valve cover gaskets, plugs, coils, brakes, and a battery.
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      03-22-2017, 10:28 AM   #9
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We bought 2 years/100K. Got a "free" brake job out of it. Next one I am sticking with the "free" that comes with the new car.

Look very closely at what is covered, and what isn't covered. I really could have used a new radio after my display went out, and that second changing of the passenger seat/airbag sensor would have been nice.

As we were nearing the end of our 4/50, the SA mentioned the extended to us and we were able to get it then. ZERO against Steve Thomas, just wasn't the best decision for us at the time.

I'm blessed with a local indy literally at the end of my block, who is extremely fair and takes great care of us.
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      03-22-2017, 11:02 AM   #10
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As others have said, it depends on the car. I did not get one on my Jeep Grand Cherokee. I would have absolutely purchased one on my 135i.
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      03-22-2017, 11:08 AM   #11
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I'm in a weird state of not knowing if an extended warranty is even worth it for me anymore.

I've been out of warranty for 15k miles, and I've had to replace the water pump, thermostat, valve cover, starter, oil sensor harness, and my idler pulley out of pocket.

I really don't know if it's worth getting one at this point
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      03-22-2017, 11:43 AM   #12
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Quote:
Originally Posted by HyeWarrior View Post
I'm in a weird state of not knowing if an extended warranty is even worth it for me anymore.

I've been out of warranty for 15k miles, and I've had to replace the water pump, thermostat, valve cover, starter, oil sensor harness, and my idler pulley out of pocket.

I really don't know if it's worth getting one at this point
The best time to buy a warranty is when you still have the factory one. The second you loose the factory warranty, they jack up the prices.

I purchased one for my '13 535xi and I had an oil leak about two weeks ago. The work done by BMW pretty much paid for the warranty right there. And I still have 3 years and ~48k miles left on it. Its an investment; we all hope that nothing happens to our cars but its the safety net knowing that if something does, we're covered.

But my Tahoe, I skipped out on is because its an American car which is super easy to do it myself.
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      03-22-2017, 11:55 AM   #13
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It isn't a question of if you're car is going to give you problems. It's when. Most of the mechanical parts won't give you issues. It's all the electronics , sensors, etc that go out.
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      03-22-2017, 11:59 AM   #14
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I have never bought an extended warranty. Companies sell this product to make a profit. The odds are in their favour.
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      03-22-2017, 01:22 PM   #15
BayMoWe335
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I have my own opinions on it, was curious what others did.

Personally, I never buy any extended warranty because they wouldn't sell them if they don't make money. I think they are 99% a ripoff.

I bought my 335i new. I think they wanted to sell me an additional 2 years for $3500 or so.

I've probably put <$1000 in my car out of pocket total (besides normal maintenance) since I purchased in 2009.
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      03-22-2017, 01:33 PM   #16
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Quote:
Originally Posted by BayMoWe335 View Post
Personally, I never buy any extended warranty because they wouldn't sell them if they don't make money. I think they are 99% a ripoff.
Bingo.

I always shake my head when my friends leave the dealership having dropped $1,250 on a tire and wheel warranty without realizing they'll have to blow 4 tires or break three wheels before even breaking even on that deal. I ask them each time: If car insurance was 4x the price of your car, would you buy it? I didn't think so.
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      03-22-2017, 01:40 PM   #17
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I have the 6 year 100k mile warranty on my car. I was thinking about mechanical breakdown insurance for my other car which is out of warranty as I had to overhaul the transmission and it would have saved me a load of money. The quote is something like $1400 for 3 years for the out of warranty car.
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      03-22-2017, 01:41 PM   #18
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Quote:
Originally Posted by MightyMouseTech View Post
I have never bought an extended warranty. Companies sell this product to make a profit. The odds are in their favour.
Exactly, they have actuaries on staff to figure this stuff out. Unless it is going to cause you financial ruin, insurance dollars are better spent elsewhere.
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      03-22-2017, 01:48 PM   #19
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Exactly, they have actuaries on staff to figure this stuff out. Unless it is going to cause you financial ruin, insurance dollars are better spent elsewhere.
I spent something like $4K on a new tranny for my car vs. $1400 for 3 years coverage I think is a pretty good deal. They estimate these things and may come out ahead but it's worth it I think for peace of mind. In my case I can afford the repairs myself so not a big deal but could well be worth it especially for European cars which can cost a fortune to fix.
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      03-22-2017, 01:56 PM   #20
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I'm considering paying the local indy a "retainer" equal to what the dealer wants. . .
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      03-22-2017, 02:00 PM   #21
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If you can turn a wrench warranties are a big waste of $$
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      03-22-2017, 02:00 PM   #22
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Quote:
Originally Posted by MightyMouseTech View Post
I have never bought an extended warranty. Companies sell this product to make a profit. The odds are in their favour.
Quote:
Originally Posted by BayMoWe335 View Post
I have my own opinions on it, was curious what others did.

Personally, I never buy any extended warranty because they wouldn't sell them if they don't make money. I think they are 99% a ripoff.

I bought my 335i new. I think they wanted to sell me an additional 2 years for $3500 or so.

I've probably put <$1000 in my car out of pocket total (besides normal maintenance) since I purchased in 2009.
Quote:
Originally Posted by KingOfJericho View Post
Bingo.

I always shake my head when my friends leave the dealership having dropped $1,250 on a tire and wheel warranty without realizing they'll have to blow 4 tires or break three wheels before even breaking even on that deal. I ask them each time: If car insurance was 4x the price of your car, would you buy it? I didn't think so.
Don't the companies make the cars to make a profit? What bearing does that have on whether or not it's worth it?

I'd always prefer to self insure. But for certain vehicles depending on what you plan on doing with them, an extended warranty can make sense.

I've had one M3 where an extended warranty which would have saved me a few grand. I had one M3 which i intended on selling before the warranty period was up and another M3 without extended warranty which was driven to 80k miles.

Current Range Rover Sport had an additional 3 year 40k miles warranty identical to the factory warranty along with wheel and tire replacement program for sale at purchase for $2800. Considering that i intended to drive it off road and keep it outside of the factory warranty period, it seemed like a reasonable gamble. Since it's transferable, it will help with a private sale. Yet if i don't want to transfer it, they will prorate the unused cost back to me upon selling the vehicle.

So far i've had two wheels either repaired or replaced at no cost to me. At $900 a pop for new OEM wheels, i'm fairly happy. Especially being able to use it as a selling tool when the time comes. All that said, this is the first time i've purchased one. The extended warranty on the M3 was given out by BMW over the early model E46 M3 rod bearing issue. But the vanos mechanicals get all bent up on that car and would have been $3500 to replace. (that was on top of the water pump pulley that broke off, punctured the radiator and warped all the other engine pulleys. Nice $2200 repair just a few miles out of warranty.)

Funny story about the VANOS.... the service advisor at BMW came out and told me that it wouldn't be covered by the extended engine and drive train warranty because it's not an engine internal. I walked him out to another E46 M3, opened the hood and asked him to point to the part that needed replacing. He said he couldn't show me because it was inside the engine. I just looked at him with my eyebrows raised.... and you could see when the light bulb came on. He said, hang on and went back to talk to the service manager. Came back and said, yes, it'll be covered. lol
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