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      09-05-2012, 08:25 PM   #1
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Extended Warranties: Worth it?

Hey guys,
My 09 E90 has 19k miles and a year or so left on the warranty, I'm a touring musician so I probably won't be putting more than 4-5k a year if I had to guess.

Do you guys think it's worth getting a BMW or 3rd party extended warranty? I plan on keeping the car for another 2-3 years, and I figure any remaining time on that might sweeten the deal for resale as well as cover my ass if anything goes wrong.

Which ones are a waste of money and which ones, if any, are worth the dough?
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      09-05-2012, 08:33 PM   #2
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this has been discussed time and again. If it were me I wouln't trust any of the A/M warranty companies and go w/ the BMW extended although it is very pricey considering the reliability of this car.

That being said, my warranty is up in a month and I do not plan on puchasing any extended warranty. A warranty is a gamble, you really have to make the decision yourself
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      09-05-2012, 08:38 PM   #3
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Having been a finance manager in the recent past, I would have to say "no" from a strictly financial statement. Chances are a $2000 warranty pays out less than $2000, hell, chances are on average it pays less than $1000. However, like other "insurance," it is the chance it could pay much more that may make it worth more to you, from a piece of mint standpoint. Can you afford to replace a $25,000 engine on the off chance yours fails? If not, even though the warranty costs less than it likely pays, the piece of mind of it potentially saving you from a catastrophic economic situation might make it worth it to you.

I personally am not in a position where paying for a $25,000 engine would be comfortable to me, and the warranty I have gives me piece of mind.

As an aside- only buy a BMW warranty. Don't take a chance in a fly by night company. And don't buy it to increase the value of your car. Chances are it won't.
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      09-05-2012, 09:19 PM   #4
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Yeah I've been thinking the same thing.. My car has 23k and my warranty expires this coming may.. A little ways away but not in comparison with the miles I drive it about 800-1k a month.. So I'm considering... Still confused it truly is a gamble.
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      09-05-2012, 09:59 PM   #5
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If you decide to get one, go with http://www.chryslerfactoryplans.com/ I had this for my E55 AMG and it certainly paid out with no problem. Best of all when I sold the car, I got a pro-rated refund that was 75% what I paid for the warranty. I was surprised to say the least, because they had paid for over $3000.00 in repair work which was more than I had paid for the warranty in the first place.
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      09-05-2012, 10:02 PM   #6
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its definitely a gamble, I think that is where dealerships make most of their money. But at the same time so is full coverage insurance. but if your car gets wrecked you are fkd. I say look into the price and then see if its worth it
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      09-05-2012, 10:08 PM   #7
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i choose not to but a blown motor would really screw up my program.
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      09-05-2012, 10:50 PM   #8
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Thanks for the replies/input guys!!

Quote:
Originally Posted by X2Board View Post
If you decide to get one, go with http://www.chryslerfactoryplans.com/ I had this for my E55 AMG and it certainly paid out with no problem. Best of all when I sold the car, I got a pro-rated refund that was 75% what I paid for the warranty. I was surprised to say the least, because they had paid for over $3000.00 in repair work which was more than I had paid for the warranty in the first place.
People in and out of this thread have told me to stay away from any non BMW warranty, can you give your opinion on this? I just did a quick quote, and given that i dont think i will put 30,000 miles in 3 years I can get their best coverage for that amount of time with no deductible for 2600 bucks, that seems like a really good deal. Is there anything it doesn't cover? Is prorating the difference a standard feature of their warranties?

I have the DCT in my car and I worry about that failing on me. I understand the E9x's are a fair bit more reliable than the e46s with the smg, but if i could completely cover the car for 2600 bucks, that doesn't seem too bad, its less than the cost of repairing any substantial part, and way less than the BMW warranty.

What aspect of this might I be overlooking?
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      09-06-2012, 01:52 AM   #9
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I would do it if it gives you peace of mind.

I'm pretty sure it covers 100% of what the original warranty covered.
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      09-06-2012, 06:56 AM   #10
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Quote:
Originally Posted by Bulb View Post
Thanks for the replies/input guys!!



People in and out of this thread have told me to stay away from any non BMW warranty, can you give your opinion on this? I just did a quick quote, and given that i dont think i will put 30,000 miles in 3 years I can get their best coverage for that amount of time with no deductible for 2600 bucks, that seems like a really good deal. Is there anything it doesn't cover? Is prorating the difference a standard feature of their warranties?

I have the DCT in my car and I worry about that failing on me. I understand the E9x's are a fair bit more reliable than the e46s with the smg, but if i could completely cover the car for 2600 bucks, that doesn't seem too bad, its less than the cost of repairing any substantial part, and way less than the BMW warranty.

What aspect of this might I be overlooking?
This warranty is 100% a Chrysler product and they don't dick around when you have a claim. If my car was not a CPO vehicle I would have gone with the Maxcare again. The pro-rated refunds are standard, if you do not keep it for the term of the coverage. Maxcare covers more than the BMW warranties do.
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      09-06-2012, 07:26 AM   #11
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There is no right answer, its really up to you. I personally bought the BMW "Powertrain Plus" warranty for an additional 3 years since my M3 was basically out of warranty when I bought it. I recently had a fuel pump sensor and computer module go bad which was replaced under the warranty. My SA told me it would have cost me over $1k with no warranty. Obviously I am still down on my gamble but I still have 2.5 years to go...
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      09-06-2012, 08:03 AM   #12
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Knock on wood my car has been prob free and I just hit 60k on the OD.... I love driving my car and do so as much as I can.... I purchased the ext warr just for the safety factor after hitting 50k. Since I do drive so much, Ill feel assured knowing that if something broken down, I'm not cutting a check for anything (like a blown eng or tran). Just my opinion. I would rather lose $3-4k and nothing happen then for something to happen just one time and it costs me the same or more....
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      09-06-2012, 08:06 AM   #13
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I went with the BMW one when I purchased the car.
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      09-06-2012, 11:20 AM   #14
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Peace of mind/sleeping easy at night do sound really good.

X2board, what exactly would be the disadvantage to that chrysler warranty? Would they be able to fix things as well as BMW could? Would it cover the tranny/dct/clutch/parts that actually break? Sorry if these questions are n00bish, but for 2600 bucks, that's not TOO much for peace of mind so long as I wouldn't find out after the fact that something crucial was not covered...
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      09-06-2012, 11:30 AM   #15
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Quote:
Originally Posted by Bulb View Post
Peace of mind/sleeping easy at night do sound really good.

X2board, what exactly would be the disadvantage to that chrysler warranty? Would they be able to fix things as well as BMW could? Would it cover the tranny/dct/clutch/parts that actually break? Sorry if these questions are n00bish, but for 2600 bucks, that's not TOO much for peace of mind so long as I wouldn't find out after the fact that something crucial was not covered...
I believe BMW dealers sell a semi-official Safeguard Platinum warranty which can add 5 years and 75,000 miles and covers everything. Approx 3k iirc, peace of mind would make it worth it in my opinion.
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      09-06-2012, 11:31 AM   #16
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It's a question of odds and probability. In the end, they make money selling warranties; so the odds are not on your side. If the peace of mind is worth it to you, then do it. Otherwise don't. I did not.
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      09-06-2012, 11:59 AM   #17
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another factor to consider is modification. an extended warranty isnt going to cover my modified brakes, suspension, engine, for various reasons any more now than they did before i was off warranty. figured most of my claims would still be disallowed anyways.
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      09-06-2012, 12:32 PM   #18
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Quote:
Originally Posted by Bulb
Peace of mind/sleeping easy at night do sound really good.

X2board, what exactly would be the disadvantage to that chrysler warranty? Would they be able to fix things as well as BMW could? Would it cover the tranny/dct/clutch/parts that actually break? Sorry if these questions are n00bish, but for 2600 bucks, that's not TOO much for peace of mind so long as I wouldn't find out after the fact that something crucial was not covered...
No downside. You take your car to the BMW dealership for repairs and CSC pays them directly. The longest I had to wait for a payout was one day, and that was due to my car not being ready until 6pm and my SA was already gone for the day.
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      09-06-2012, 12:36 PM   #19
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I'm in favor of the warranty personally. The key is shopping around. I know some have had bad experiences but I highly recommend looking at 3rd party. There are legitimate ones at good prices you just have to do our homework and also verify that they have good reviews.

I bought a great aftermarket "platinum" warranty for 48 months and 48,000 ADDITIONAL miles for $2300 through my credit union. It has a 250 deductible and covers everything (not cosmetic obviously). I only put 5-6k of miles per year on the car and probably won't have it more than 4 years so for the price it seemed perfect!

Don't forget BMW offers a extended maintenance. This is probably only worth it if you will need brakes sometime in the next 2 years. I had mine done for free under warranty right before it expired so 3-4 more years of only driving 5-6k would not have been worth it for me as I'll probably sell it before the next brake job is needed.
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      09-07-2012, 12:08 AM   #20
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Quote:
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I'm in favor of the warranty personally. The key is shopping around. I know some have had bad experiences but I highly recommend looking at 3rd party. There are legitimate ones at good prices you just have to do our homework and also verify that they have good reviews.

I bought a great aftermarket "platinum" warranty for 48 months and 48,000 ADDITIONAL miles for $2300 through my credit union. It has a 250 deductible and covers everything (not cosmetic obviously). I only put 5-6k of miles per year on the car and probably won't have it more than 4 years so for the price it seemed perfect!

Don't forget BMW offers a extended maintenance. This is probably only worth it if you will need brakes sometime in the next 2 years. I had mine done for free under warranty right before it expired so 3-4 more years of only driving 5-6k would not have been worth it for me as I'll probably sell it before the next brake job is needed.
Yeah I think I'm gonna go for it, I have another year on the warranty, so I'm not in any rush at the moment, but I think im gonna go for one at some point before the warranty expires.

It actually already has the extended maintenance for the next 3 years, so thats good for sure!
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      09-07-2012, 06:44 PM   #21
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Thats chrysler warranty seems like a good deal. Anyone else have experience with them??
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      09-13-2012, 09:16 PM   #22
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Quote:
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Don't forget BMW offers a extended maintenance. This is probably only worth it if you will need brakes sometime in the next 2 years. I had mine done for free under warranty right before it expired so 3-4 more years of only driving 5-6k would not have been worth it for me as I'll probably sell it before the next brake job is needed.
I did the exact same thing. I've had new steering wheel, air bag, shifter and boot, driver arm door rest, rear brakes and sensors, front brakes, rotors, and sensors, and new center console leather trim. Basically I had most of the wear items replaced on the interior! Most dealers wouldnt do this. I got quite lucky.
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