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      04-18-2019, 09:46 AM   #1
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Extended warranty?

How many of you paid extra for a maintenance/extended warranty? I currently have the 4 year warranty extension added which I can cancel up to 60 days I believe... It was $4,500 to extend the warranty to 7 years. I will probably only put 3,500mi a year on the car. Seems pretty steep for something that didn't even include oil changes...

Thoughts?
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      04-18-2019, 10:13 AM   #2
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Those prices are negotiable, $4500 is not a hard and fast rule. They are just charging you MSRP for it.
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      04-18-2019, 11:52 AM   #3
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I just went through this same decision and then cancelled within the full-refund window. My main reasons were:

1) Like you I won't drive the car that much, so for me it is really an extension in time. I have a 2008 M3 with only 45k on it, and I am likely to drive this car even less because I now have kids. For me this is likely an 8-year ~30k mile warranty.

2) I spoke to an independent mechanic I have used for decades, and he has not heard of any systemic problems with this engine. Anything can happen, but this does not appear to be a case of a car with a known issue as mileage increases.

3) I don't drive the car hard when it is cold, and I won't have it on the track. I change the oil every 6k miles with factory oil.

4) I have a 6 speed, not a DCT

5) The extended warranty has significant restrictions. Within 25 miles they can force you to use the dealer service (vs. my independent). It does not cover exhaust, clutch, shocks, bushings, brakes, etc.... It is largely a warranty for engine/transmission/diff/engine management electronics. Of those only the engine would greatly exceed the cost of the warranty (the others might exceed it, but not by so much, and none are likely with the mileage I expect).

There's no definitive answer to this for everyone, and I think if there was an indication that at high mileage this was an incredibly expensive car it would be a different story (e.g. e60 M5). For my use and from what I can find out about the warranty and car it didn't seem to be worth it.
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      04-18-2019, 12:19 PM   #4
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Quote:
Originally Posted by caphill View Post
I just went through this same decision and then cancelled within the full-refund window. My main reasons were:

1) Like you I won't drive the car that much, so for me it is really an extension in time. I have a 2008 M3 with only 45k on it, and I am likely to drive this car even less because I now have kids. For me this is likely an 8-year ~30k mile warranty.

2) I spoke to an independent mechanic I have used for decades, and he has not heard of any systemic problems with this engine. Anything can happen, but this does not appear to be a case of a car with a known issue as mileage increases.

3) I don't drive the car hard when it is cold, and I won't have it on the track. I change the oil every 6k miles with factory oil.

4) I have a 6 speed, not a DCT

5) The extended warranty has significant restrictions. Within 25 miles they can force you to use the dealer service (vs. my independent). It does not cover exhaust, clutch, shocks, bushings, brakes, etc.... It is largely a warranty for engine/transmission/diff/engine management electronics. Of those only the engine would greatly exceed the cost of the warranty (the others might exceed it, but not by so much, and none are likely with the mileage I expect).

There's no definitive answer to this for everyone, and I think if there was an indication that at high mileage this was an incredibly expensive car it would be a different story (e.g. e60 M5). For my use and from what I can find out about the warranty and car it didn't seem to be worth it.
Thanks for the response. I'm leaning towards cancelling it as well. Maybe I'll tell them I want to cancel and see if they would go a ways down on the price...
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      04-18-2019, 12:52 PM   #5
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This is rolling the dice on a pretty big upfront payment that you will need a big repair between years 4 and 7 that didn't show up in the first 4.

I would trade it in in year 3-4 if you don't think your specific car will be reliable for another 3.

Also you will be scrutinized for any mod, all service records, etc. before they cover anything.
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      04-18-2019, 01:49 PM   #6
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The answer for an extended warranty really should always be no. Look guys this is where the dealers make a lot of profit, they make profit because the odds are very slim that warranty will ever pay off. Of course every time somebody "wins" the extended warranty lottery and gets and expensive repair fixed they tell everyone and the easter bunny but the vast majority will never see the benefit. Take that $4,500 and put it in the bank or put it to work and chances are very likely that it will still be there in 6 years.

I was nervous in buying my E90 3 series and considered the warranty and passed, I drove that car 170,000 miles before it had any problems, well beyond what any warranty would ever cover. I drove the car 225,000 before I sold it and got my M2 which I have driven 37,000 miles and 22 track days without a single glitch.

Keep your money, sure there is a risk but its small. Also as the original owner if you have a failure after warranty chances are very high that BMW will do a goodwill deal to make you happy. Just have to make a phone call.
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      04-18-2019, 02:30 PM   #7
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Send me the $4,500.
I'll take the bet.
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