Debating on extended warranty

ef11 · 04-25-2013, 09:18 AM

Quote:

Originally Posted by nickvacc

From what I've heard, they only cover the turbos under that warranty if its caused by wastegate failure. There are other ways for them to go where they may not cover it.

Yup, that's what I have heard as well.

tennis_pr0 · 04-25-2013, 11:01 AM

I think purchasing an extended warranty in two years is my best option.

I have a 2007 with 33k miles on it. The HPFP is covered up to 10 years/120k miles, so that will be covered for a long time, and the wastegate has a 8 year/82k mile warranty, so for me that is still covered for another two years.

These two things seem like the two major things that could possibly go wrong, but if they do I am covered.

What I was thinking was in two years, once the wastegate warranty is no longer in effect for me, I will buy a three year warranty. My car only has 33k miles on it now, but in two years it will have over 50k miles on it, I think that would be a great time for me to purchase the three year extended warranty.

I know it will be more expensive to purchase it in two years from now, but getting it right now doesn't really make sense to me. Does anyone agree/disagree with this logic? Any advice and or feedback would greatly be appreciated!

gpb · 04-25-2013, 11:35 AM

Quote:

Originally Posted by tennis_pr0

I know it will be more expensive to purchase it in two years from now, but getting it right now doesn't really make sense to me.

Consider this: say you buy it now, then in 20 months for some reason you sell your car (or it gets stolen or totalled or something) and you go to cancel the policy. How much will you get back?

I'd just start putting money away into savings each month "towards" the warranty. When the time comes to buy it then think about just continuing to put money in savings as a repair fund or buying the warranty then based on how the car's been (reliable vs problematic)

tennis_pr0 · 04-25-2013, 11:35 AM

buuuummmmp!

tennis_pr0 · 04-26-2013, 10:10 AM

Quote:

Originally Posted by gpb

Consider this: say you buy it now, then in 20 months for some reason you sell your car (or it gets stolen or totalled or something) and you go to cancel the policy. How much will you get back?

I'd just start putting money away into savings each month "towards" the warranty. When the time comes to buy it then think about just continuing to put money in savings as a repair fund or buying the warranty then based on how the car's been (reliable vs problematic)

Yeah I think this makes more sense.

My logic is for the next two years I am covered with wastegate issues, and the next 5 years I am covered for the HPFP. Sp those being the two main issues that the car has, I am covered without the warranty for quite some time.

If in lets say two of three years I still have the car and plan on keeping it for much longer, I think at that time it would be smart to buy a warranty. Does my logic make sense?

Popsrcr · 04-26-2013, 11:34 AM

I wouldn't, but it all depends. There have been many stories in my short time here of aftermarket warrenties not covering stuff. I'd just rather put the money away myself.

tennis_pr0 · 04-26-2013, 08:08 PM

Quote:

Originally Posted by Popsrcr

I wouldn't, but it all depends. There have been many stories in my short time here of aftermarket warrenties not covering stuff. I'd just rather put the money away myself.

Yeah I'm sure any aftermarket warranty company would give you a hard time when it comes to covering anything expensive.

I'm definitely going to hold off for about two years as I am covered for the two common things this car has, so it would be pointless to buy one now. I definitely want to keep this car for a good 4 or 5 years, so in two years I will definitely purchase one. I have low miles on my car and its covered for a few more years now so I will definitely wait.

zamboni · 04-27-2013, 12:02 AM

Pay now or pay later that is your option and I would not go with third party coverage, can you still BMW warranty?

tennis_pr0 · 04-27-2013, 12:53 AM

Quote:

Originally Posted by zamboni

Pay now or pay later that is your option and I would not go with third party coverage, can you still BMW warranty?

Can't go with bmw

fazman · 04-28-2013, 01:36 AM

Wasn't 2007 MY a problem year? Would it make more sense to trade in the 2007 for a low mileage CPO 2010 instead @ 0.9% financing????

04-25-2013, 11:01 AM	#24
tennis_pr0 Captain 67 Rep 888 Posts Drives: 2--7 BMW 335i coupe Join Date: Apr 2013 Location: Philadelphia iTrader: (1)	I think purchasing an extended warranty in two years is my best option. I have a 2007 with 33k miles on it. The HPFP is covered up to 10 years/120k miles, so that will be covered for a long time, and the wastegate has a 8 year/82k mile warranty, so for me that is still covered for another two years. These two things seem like the two major things that could possibly go wrong, but if they do I am covered. What I was thinking was in two years, once the wastegate warranty is no longer in effect for me, I will buy a three year warranty. My car only has 33k miles on it now, but in two years it will have over 50k miles on it, I think that would be a great time for me to purchase the three year extended warranty. I know it will be more expensive to purchase it in two years from now, but getting it right now doesn't really make sense to me. Does anyone agree/disagree with this logic? Any advice and or feedback would greatly be appreciated!
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04-25-2013, 11:35 AM	#26
tennis_pr0 Captain 67 Rep 888 Posts Drives: 2--7 BMW 335i coupe Join Date: Apr 2013 Location: Philadelphia iTrader: (1)	buuuummmmp!
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04-26-2013, 11:34 AM	#28
Popsrcr Private 0 Rep 55 Posts Drives: 335i Join Date: Dec 2012 Location: RVA iTrader: (0)	I wouldn't, but it all depends. There have been many stories in my short time here of aftermarket warrenties not covering stuff. I'd just rather put the money away myself.
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04-27-2013, 12:02 AM	#30
zamboni I want to drive a Zamboni 1131 Rep 5,557 Posts Drives: 13 E93 M3 18 F80 M3 16 K71 Join Date: Mar 2006 Location: Monte Sereno, CA iTrader: (7) Garage List 16 K71 F800GT [10.00] 2018 F80 M3 [10.00] 2013 BMW E93 M3 [10.00]	Pay now or pay later that is your option and I would not go with third party coverage, can you still BMW warranty? __________________ 18 F80 Imola Red 6MT 16 K71 F800GT Montego Blue 13 E93 M3 Melbourne Red 2000 E46,2006 E90,09 E82,13 E93 328i,14 F30 335i,18 F80 M3 My next vehicle would be a Zamboni
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04-28-2013, 01:36 AM	#32
fazman Brigadier General 681 Rep 3,696 Posts Drives: 335 e90 Join Date: Feb 2011 Location: Los Angeles iTrader: (0)	Wasn't 2007 MY a problem year? Would it make more sense to trade in the 2007 for a low mileage CPO 2010 instead @ 0.9% financing????
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