10-18-2014, 08:25 AM | #1 |
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HELP with extended service warranty plan
I am looking at a 2012 X5M, 28,000 miles, the Factory warranty will expire in June 2015, it is privately owned, BMW quoted me $6,600 for 2 years/50,000 miles. have any of you a contract with independent companies that charges less for a good service plan?
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10-18-2014, 08:51 AM | #2 | |
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No need to give BMW your money now while the factory warranty is still in effect, right? They would essentially have nearly a full year use of your money without you getting a single benefit out of it! Imagine if 100 customers gave BMW $6,600 for the next year while their cars are still under factory warranty ... that's nearly 3/4 of a million dollars of FREE money BMW receives ... for what??? And I am sure they sell a lot more than 100 Plans. I recommend, and hopefully you will conclude, that the BMW EVP plan is the only one that makes sense, despite it's higher price. Shop around, every dealer has their own price ... it's just another "product" they sell. You should be able to get at least 10% off, and 20% would be doing REAL good!
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10-20-2014, 01:36 PM | #3 | |
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FWIW, I went with EasyCare TotalCare, which tends to cover a few items that the BMW plan does not. And they are more "forgiving" of modified cars (BMW specifically states any mods you do can void the warranty). I think the TotalCare with the same $50 deductible was about $1k less than the BMW quote for the same term. Obviously, to each his own.
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10-20-2014, 01:39 PM | #4 |
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Should note that I had the same plan on my '03 335cic and it more than paid for itself. Ironically, I've had to replace fueld pumps under both plans for both cars (current X5M) within 6 months of the orignal warranty expiry. The X5M fuel pump was $2,300!!!
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10-20-2014, 05:25 PM | #5 |
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I bought my 335i from a dealer along with my X5, so both came with the 2 year CPO warranty that runs after the regular warranty. The 335 had maybe $300 of repairs under the CPO warranty, but a year after it ran out I spent $2,300 in various repairs. Another option you could take would be to hang on to the $6K if you cam do it without spending it. Then just use it whenever there is an issue. This can go two ways. One, it's money towards your next car as long as you don't go over $6K in repair cost over the next 3-4 years, or how ever long you have the car. Two, You may end up with less than $1K in repair costs over the next 2 years, and you would essentially have wasted $5K.
It's a tough call, do you want to spend that much for piece of mind over the next two years (in case something crazy like the engine blowing up), or better to save it for a longer period.
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10-20-2014, 09:01 PM | #6 |
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Not sure how you are interpreting what I'm saying, but the EVP goes into effect AFTER the 4/50 warranty expires and my point is that YOU PAY FOR IT NOW.
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10-21-2014, 09:01 AM | #7 |
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I agree with PAX5. Just wait until you're close to your factory warranty expiring, and then call around and see which BMW dealership has the best deal going on extended warranties. You could also wait until the end of this year, when the dealers might be dropping their trousers just to sell a few more things, including high margin items such as warranties.
But they are worth it. I just had $6K of warranty work done on my X5. |
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10-21-2014, 09:50 AM | #8 |
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Ahh... Missed that. Clear now.
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10-21-2014, 11:25 AM | #10 |
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If you search for BMW warranty's on the various enthusiast forums, you'll get a list of the popular dealers and sales folks where people got a deal.
I had called two local dealers and got basically MSRP for my car with about 1000 miles left on the warranty. I used some referrals from forums and found a place that got me near 30% off MSRP. Even giving them that quote locally, those dealers wouldn't match it. So yeah, research, and shop around. Some dealers even go as far as asking you to send in one of your keys to validate mileage... I didn't have to, but it was a requirement for some. |
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10-21-2014, 08:30 PM | #11 | |
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