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      07-13-2011, 02:54 PM   #1
Jason
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Post BMW Considers Offering Excess-Wear-And-Tear Lease Policy and Extended CPO Warranty

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BMW Considers Offering Excess-Wear-And-Tear Lease Policy and Extended CPO Warranty
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There are two potential new BMW financial services products under consideration which, if approved, would be great news for the legion of BMW customers who lease BMWs or purchase certified pre-owned (CPO) BMWs.

BMWFS is currently considering a BMW backed 1) excess wear and tear policy for lease customers, and 2) extended CPO warranty.

The BMW excess-wear-and-tear policy would be appropriate for lease customers who tend to drive and use their BMWs hard or simply want the peace of mind from knowing that they won't be nickel and dimed for wear and tear upon lease return inspection.

The CPO wraparound warranty would allow CPO customers to buy extended coverage beyond the current standard 6-year/100,000-mile CPO warranty.

"We're in our due diligence" on those products, says Shaun Bugbee, vice president of sales and marketing at BMW Financial Services in Woodcliff Lake, N.J.

If approved, he said, the products probably would launch around the end of the year.

Source: Autonews


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      07-13-2011, 05:04 PM   #2
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That would be a great option to have.
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      07-13-2011, 05:11 PM   #3
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yeah - then even if you buy them, it's up to the dealer which will probably deny the claim anyways saying it "isn't covered".

And when you complain to BMW NA, they say they can't do anything about it b/c they are a franchise and it is up to the dealer to make the decision.
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      07-13-2011, 05:23 PM   #4
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whats the difference between the current wear and tear lease protection and this new offering?

In Canada, we already have this option.
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      07-13-2011, 05:28 PM   #5
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Quote:
Originally Posted by gaifaun View Post
whats the difference between the current wear and tear lease protection and this new offering?

In Canada, we already have this option.
We don't in the US... only aftermarket providers right now.
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      07-13-2011, 05:33 PM   #6
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they should have a warranty for folks who want to mod
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      07-13-2011, 07:14 PM   #7
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Is it great?

Depends.

On cost.
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      07-13-2011, 07:53 PM   #8
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Quote:
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Is it great?

Depends.

On cost.
It's not that much, I got mine for free as part of the negotiation.

It's great, covers everything up to $1000 per item, and $7500 total.

Basically you'll be able to walk away from the dealership at the end of the lease, without a worry!
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      07-13-2011, 07:56 PM   #9
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in canada we have it and it'S great
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      07-13-2011, 08:45 PM   #10
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nice option!
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      07-13-2011, 10:02 PM   #11
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Great, as long as this option doesn't come with the implication that dealers now take a fine-tooth comb to your car at lease-end to nail the people who opt not to purchase it.
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      07-13-2011, 10:30 PM   #12
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great news
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      07-13-2011, 10:31 PM   #13
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An excess wear and tear warranty will be expensive. Only those drivers that are likely to have problems are going to want it. Such self selection leads to high rates.
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      07-13-2011, 10:51 PM   #14
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Quote:
Originally Posted by Diver View Post
An excess wear and tear warranty will be expensive. Only those drivers that are likely to have problems are going to want it. Such self selection leads to high rates.
It's not as expensive as you think, like I said, I negotiated the wear and tear lease option for free. Mind you I was still able to get price deduction off MSRP.

I think in Canada it's probably around, or less than $2k, and it's probably going to be cheaper for the Americans, since people down south always seem to get better/cheaper deal with cars, and everything relating to it (even though our dollar is at parity).

If you live in a place with relatively harsh winter, the inevitable broken windshield (quoted $800 at dealership, parts and labor), minor scratches and bumper rubs, etc. will make up for the cost in no time.

It's for the peace of mind, since any kind of repair with German imports always cost more compare to domestic and Japanese
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      07-13-2011, 11:14 PM   #15
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i like
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      07-14-2011, 12:58 AM   #16
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All new BMW vehicles should just have 6y/100k free maintenance up to 50k.
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      07-14-2011, 01:53 AM   #17
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great for people who buys a CPO from a person you know
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      07-14-2011, 01:57 AM   #18
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Quote:
Originally Posted by IancoleTX View Post
Great, as long as this option doesn't come with the implication that dealers now take a fine-tooth comb to your car at lease-end to nail the people who opt not to purchase it.
+1
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      07-14-2011, 04:10 AM   #19
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i think it would actually be a good option to have, since some people do get scratch their rims, or door ding, minor bumper rash, etc, during the course of their 3 year lease term, and having the peace of mind of being able to just walk out of the dealership worry free after you hand back the keys is something nice to have.
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      07-14-2011, 06:19 AM   #20
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      07-14-2011, 07:44 AM   #21
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I dont like this one bit (excess wear and tear that is)... first thing they do is start denying certain items they have typically covered and then offer you the excess wear and tear policy. Makes the "all maintenance included" a much less meaning full selling point for me.
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      07-14-2011, 08:58 AM   #22
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Quote:
Originally Posted by MB135i View Post
they should have a warranty for folks who want to mod
LMAO SO true, 1000000000+
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