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      10-19-2014, 03:13 PM   #1
calbear13
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CPO vs third party warranty

I have a 2012 M3 with 22k miles. The in service date was 11/2011. The lease is ending next month and I plan to buy it out. Based on advice of M3Post members, I've already decided that the extended maintenance plan does not make sense.

Now I need to decide if I want to get the car CPO'd ($4k) or buy a third party extended warranty. The CPO will get me 6yrs/100k miles (so 2 more beyond the standard 4 yrs) but the 3rd party will get me another 3 yrs (7yrs/100k miles).

Anyone have advice? Is it too risky to go with 3rd party? Will I still be able to go to the BMW dealer to get any warranty work done?

One benefit of the CPO is I can finance the $4k along with the rest of the car at a low rate, but I can afford to pay up front too so I don't need to lose money just to be able to finance it.
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      10-19-2014, 05:24 PM   #2
Yay-Z
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At 22K miles after 3 years, do you really think you'll rack up 4k worth of repairs in 2 years? I doubt it, but if you need peace of mind go cpo
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      10-19-2014, 06:58 PM   #3
calbear13
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I did a lease take over and the last guy barely drove it. I do around 15k/year.
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      10-20-2014, 03:31 PM   #4
calbear13
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^ bump
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      12-27-2014, 05:15 PM   #5
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hey, I got a third party warranty for 5K. I got it from SecureDrive and am from Canada. I also have a 2012 so I decided to pull my trigger on warranty as I am planning on keeping this car for a while. However, I still don't know if I paid too much or if I paid just about right.

3 extra yrs, upto 120k km, 250 deductible, and pretty much everything.
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      12-27-2014, 05:30 PM   #6
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You guys are paying WAY too much for extended warranty. Add another 5yr/100kmi (so if you have 40kmi it would end at 140kmi). For less than $4k. That is also ZERO deductible. :-)

Give Colin a call at Wanted. 1 (877) 834-3888 x521 Or email at Colin@wantedautoprotect.com

I Have 3 cars with these guys and am very happy with the service. You can pick where you want the car serviced however they WANT YOU to goto the dealer.
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      12-27-2014, 06:55 PM   #7
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Never heard of Wanted Auto except from Disturbed, who plugs them at every opportunity. I would be skeptical of these boiler room operations. If it sounds too good to be true, it is. I seriously doubt they would pony up for a whole new engine.
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      12-27-2014, 07:52 PM   #8
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I'm in a similar position right now.

2011 E92 M3, in service date 06/2011, got 47k miles on it now.

Thinking about three options now:

1. Keep the car, and do not get any extended warranty.

2. Keep the car, and get some kind of extended warranty (not sure which kind tho, still researching, most extended warranties got too many exclusions).

3. Sell the car and get something else before the warranty ends.


Decisions decisions....
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      12-27-2014, 09:19 PM   #9
modkrazy
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Quote:
Originally Posted by W12x View Post
I'm in a similar position right now.

2011 E92 M3, in service date 06/2011, got 47k miles on it now.

Thinking about three options now:

1. Keep the car, and do not get any extended warranty.

2. Keep the car, and get some kind of extended warranty (not sure which kind tho, still researching, most extended warranties got too many exclusions).

3. Sell the car and get something else before the warranty ends.

Decisions decisions....
I'm at the same crossroad now. I got PenFed extended warranty, but they exclude the M3 and sent me my money back. Then folks here recommended Carchex but they exclude it too. OEM is overpriced.

I thought about 3, but there is nothing out there I could replace it with.
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      12-27-2014, 09:52 PM   #10
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Im going to buy the 3rd party warranty endorsed by BMW was $5200 for 7yr/100k probably.
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      12-28-2014, 12:19 AM   #11
W12x
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Quote:
Originally Posted by modkrazy
Quote:
Originally Posted by W12x View Post
I'm in a similar position right now.

2011 E92 M3, in service date 06/2011, got 47k miles on it now.

Thinking about three options now:

1. Keep the car, and do not get any extended warranty.

2. Keep the car, and get some kind of extended warranty (not sure which kind tho, still researching, most extended warranties got too many exclusions).

3. Sell the car and get something else before the warranty ends.

Decisions decisions....
I'm at the same crossroad now. I got PenFed extended warranty, but they exclude the M3 and sent me my money back. Then folks here recommended Carchex but they exclude it too. OEM is overpriced.

I thought about 3, but there is nothing out there I could replace it with.
I would sell the M3 if they make a lightweight 2.5L version of the FR-S/86. I know it sounds crazy going from the M3 to an FR-S but that car is crazy fun but needs about 50-60 more HP.

Or maybe I will just wait for the M2 or an used Alfa 4C if the price ever gets reasonable.
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