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BMW 3-Series (E90 E92) Forum
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It's official--zero claims for entire duration of extended warranty
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11-21-2013, 06:10 AM | #1 |
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It's official--zero claims for entire duration of extended warranty
My 7/100 is about to expire, and I have never used it once in 3 years. It's food for thought as I reflect back on all the endless threads about how scary it is to own a N54 powered vehicle.
I suspect that for every, "I just got new turbos and water pump and all this other junk that added up to $10k! Thanks extended warranty, whew!" There are probably 9 people like me who don't say anything, because they made a poor financial decision in extending the BMW warranty. That, and leasing, is an absolute gold mine for the mfg. I can explain and rationalize the emotional part of it. It was like when I adopted my dog from the SPCA, he was 1 1/2 and housebroken according to the shelter. However, I kept him crated for 1 more year, in case he would pee or tear anything up in the house. Well, now he's 13, and he never had an accident nor damaged anything. So he was unnecessarily crated for 1 yr., "just in case." Humans want to avoid risk. That's why these unneeded extended warranties sell so easily. Factor in the N54 bogus "scariness," and you've got a slam dunk (just make sure you as the mfg. exclude lots of things when you sell these warranties, and you cannot lose). Paying almost 3k for something never used, and $390 for the tire warranty, never used as well, I think I've learned my lesson--follow one's head! Again, in life, we can easily make 30k mistakes, or 300k mistakes (talk to folks who played the real estate game, they used to brag 7 yrs. ago, and now they're gone), so we're all gonna make them. But don't be a don't'er, and do, be a doer. LOL |
11-21-2013, 06:17 AM | #2 |
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This forum does a great job creating awareness of repair problems, which is good. You are probably right, we shouldn't. assume it's. the typical ownership experience.
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11-21-2013, 06:20 AM | #3 |
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It's definitely a hit or miss thing - the car is a complicated machine - some people have nothing but problems, others like yourself have no problems. I have never bought the extended warranty (I don't keep a car outside of the manufacturer's warranty) but have bought the wheel/tire insurance and have used it always - the roads here in Houston suck....
Just to add....I have had no warranty issues with my car after 1 yr.... |
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11-21-2013, 06:31 AM | #4 | |
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I'm honestly banking on the fact that my water pump will die in the next 12 months and that I can deal with the wastegate rattle closer to the end of next summer. Get it all in tip/top shape and then sell it on to the next guy so he can enjoy it for another 100k miles with minimal issues (I don't like to pass along a lemon of a car, i don't wanna be that guy). |
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11-21-2013, 06:32 AM | #5 |
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I wish I was you posting this..... I was on the other boat. Didn't get a warranty but hassled down the dealer enough for my waterpump and all .
Glad your machines doing well though! How many K/M on your car if you dont mind me asking? |
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11-21-2013, 06:38 AM | #6 | |
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But we have to think that BMW would not offer a warranty if over the pool of cars they cover, they would lose money. Also, there's a reason why the 335i listed at $34xx, and the M3 or 750 at $6800. They know these numbers well and spread the risk. And just like a roulette wheel has two green spots where the house wins, BMW excludes a lot of things, which become their 0 and 00. I really feel strongly that something has to be said about the 328 v. 335 assumption that a 335 is scary and unreliable... |
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11-21-2013, 10:24 AM | #8 |
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I am out of warranty now, but while I was in warranty the only things that got replaced under warranty was things I broke from abuse.
Tire protection was a plus, I went through 2 sets of RFT's and had my Michelin PSS front tires replaced for like $150 How I got my RFTs replaced without paying a dime when my tires were about to hit the tire wear limiter a nail would find it's way in both tires |
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11-21-2013, 10:24 AM | #9 |
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I got the car with 40k, and I just got to 75k not long ago. My extended warranty is up and I only had to use it once. My a/c compressor went out and I got my rear door actuator fixed at the same time. It ended up costing around $1200 which is about half the price of the warranty. The warranty wasn't worth it, but at least I ended up getting a new a/c compressor out of it.
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11-21-2013, 11:02 AM | #11 |
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One should never buy insurance for something they can afford to fix or replace. That is the actuarial/statistical point of view anyway. Where do insurance companies get all that money to build all those sweet building and TV commerials anyway?
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11-21-2013, 11:24 AM | #12 |
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Cars warranty is up in July, so far I've had it for 11,000 miles.
Covered -6 Injectors (only 1 was actually leaking) -1 Angel Eye Not Covered because F*$& that dealership to death. - 1 charge pipe. (exploded) Overall, I could have got an aftermarket charge light and angel eyes for $3-400. The injectors being replaced was a huge one. So now that they have been done I feel a little better about the car. Probably not going to purchase extended warranty. Since I do a lot of wrenching on my own.
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11-21-2013, 11:53 AM | #13 |
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hey just imagine how pissed you'd be if you didn't have the warranty and 5k+ in repairs. personally, I'd feel as if the peace of mind is worth the warranty cost. Congrats on being one with a reliable 335i! hoping I have the same luck as you
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11-21-2013, 11:59 AM | #14 | |
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Or, have you ever heard a guy say he got a ring for his fiance, and paid 15k, but it appraised for 22k (it happens every time for a reason)? Now he goes to insure the ring for 22k, which the insurance co. gladly does. If they ever had to pay out a claim, they will replace for like. They get it through their channels for 5-7k, yet the insured was paying a premium on 22k. I wasted every penny of that money, I just want others to realize, the N54 is not as scary as it may seem. I'm out of extended warranty. I've been out of factory warranty for 3 yrs. |
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11-21-2013, 02:20 PM | #15 | |
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BMWs are not as reliable as a Toyota, that is a fact - but they are not (generally) as terrible as some people in this forum claim they to be. I had a 2006 330i which I traded in with 120k miles and all I needed to replace was a starter and about $300 in regulators/actuators. IMHO, there is no such thing as "warranty peace of mind". You pay a huge sum upfront, which you will most likely not get back. If you were likely to get it back through repairs, BMW wouldn't sell these warranties, trust me. It is all about MONEY. And I am talking about your money, just to be clear |
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11-21-2013, 02:32 PM | #16 |
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I guess you were one of the lucky ones. But it also comes down to the "what ifs". Its like home insurance, better to have it and not need it than not have it and need it. Its always a gamble.
The thing is, if you have the money and can afford and willing to spend the extra $ for the extended warranty then go for it. But if you don't and don't want to spend then there is no need to break the bank. Not all BMW owners are "rich".
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11-21-2013, 03:24 PM | #17 | |
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The amount that BMW charges, is a total slam dunk in their favor relative to the risk, when spread across everyone that buys them. My friend paid $6,700 for his M3, and so far, nothing...hmmmm...... |
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11-21-2013, 04:03 PM | #18 |
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Bravo...I've always enjoyed your posts.
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11-21-2013, 04:48 PM | #19 | |
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good info. i've always thought warranties could be a waste of money. what if's are not always going to happen. even if you do need new turbo's, chances are they'll be covered under the longer extended factory bmw recall. also, water pump and thermostat can be done for $500 DIY |
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11-22-2013, 12:01 AM | #20 |
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This, a thousand times this. Insurance only makes sense when you can spend a few hundreds to avert a risk of many thousands. Health insurance. Homeowner's insurance. Even car insurance. An extended warranty is at best pre-paying for repairs. Vegas has better odds of winning big than an extended warranty. If you can't afford to fix a car, you can't afford to own that car period.
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11-22-2013, 01:54 AM | #21 |
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In canada youd want the extended warranty. The turbos are not covered past 4yrs 80k km.
It was an uphill battle to get my extended. Because my warranty had already expired. But bmw gave me the exception to purchase the extended. As soon as I heard that they approved it I immediately swipt 2750$ on the credit card. I had to wait a couple more days for them to approve it (mileage verification). After it s-gate came back as showing I had the warranty applied. I dropped off the car that day and the sa called me back the next and told me turbos and a bunch of other large ticket items were being replaced. So for me it made no sense not to buy the extended. I needed the extended even before I purchased it. Still do purchase it, especially Canadian owners, you do not have the same turbo recall as the USA. |
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11-22-2013, 04:14 AM | #22 | |
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As I reflect back, I was "scared" to own a BMW out of warranty, so hence, my foolish action of extending the warranty another 3 yrs. to 7/100. I just want others to know that there are people out here, who plunked down that money, and got nothing out of it. We have to be the majority, or the programs would not exist. Seriously, if you can afford 3k to get the warranty, you can probably also afford 5k to repair something. I think some see the solution as get rid of the car before it breaks--that never made any sense to me either.... |
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