[Big Foot]

In response to a previous thread, I asked my dealer about purchasing a Extended Warranty just before the new car warranty expires.
He replied it would cost approx. $1,500.00 CDN more in today's prices then to purchase the same coverage at time of delivery.
I am going to get the Ultimate from Coverage One Corporation with $200.00 Deductable.
This is all inclusive with specified exclusions and is for 7 years/140,000 Km
The exclusions are mainly maintaince items such as brakes, trim etc.
The only electronic item excluded that I can see is the Nav System.
I think with BMW, especially a new model, the service rates are too high, $90.00/Hr, and the chances of having electrical/computer breakdowns are high.
This coverage is $2,627.00 CDN from the BMW dealer.
They told me BMW does not offer an extended warranty with their new cars, only the Certified Series with certain used cars.
I am planning on keeping the car for approx 6-7 years.

[collinp]

My dealer will sell me an extend warranty from BMW. They claim it is similar to BMW's certified pre-owned warranty. It adds 2 years and 50K. It has a $50 deductible and does not cover radio or nav. This brings the total coverage to 6 yrs 100,000 miles. They're quoting $2,249.00 US.

The other option they offer is Universal Underwriters coverage. The deductible is $100 but it does cover stereo and nav. The price for 2 years 50K is $2,389. The price for 3 years 50K is $2,528.

In addition to this they offer the BMW extended maintenance plan for another 2 years / 50K. They are quoting $1,295.

I'm probably going to go for the extended maintenance and extended warranty from BMW. This will get me about as covered as I can be for the first 100K miles.

- Collin

[bookman2]

I think you're doing the right thing, especially if you plan to keep the car for 6-7 years. I'll be keeping mine for at least 5 years and i'm getting it.

[collinp]

Note that BMW's extended maintenance plan is supposed to cover wear items like brakes. The mantra I've heard from several dealers is that it covers "everything but tires". We'll see.

- Collin

[Big Foot]

I will ask my dealer about Maintenance Coverage.
Thanks for the input.

[HRC]

Originally Posted by collinp

My dealer will sell me an extend warranty from BMW. They claim it is similar to BMW's certified pre-owned warranty. It adds 2 years and 50K. It has a $50 deductible and does not cover radio or nav. This brings the total coverage to 6 yrs 100,000 miles. They're quoting $2,249.00 US.

The other option they offer is Universal Underwriters coverage. The deductible is $100 but it does cover stereo and nav. The price for 2 years 50K is $2,389. The price for 3 years 50K is $2,528.

In addition to this they offer the BMW extended maintenance plan for another 2 years / 50K. They are quoting $1,295.

I'm probably going to go for the extended maintenance and extended warranty from BMW. This will get me about as covered as I can be for the first 100K miles.

- Collin

Collin,

Do you think you can bargain with the dealership on the prices? My fiance recently purchased a TSX and when we said no to the extended warranty, the F&I guy dropped the price right away.

Danny

[Big Foot]

Here is a copy of a reply I got from another board.
I quote "It means $2627 with $200 deductible is for a coverage of extra 3 yrs/60k km.
And here is for your info...
Let assume you've 5 problems during the last 3yrs and each one cost over $200. It means you're paying $3627 ($2627 + 5*$200) in total. A average of $725.4 ($3627/5) per problem fixing.
For 10 problems, you'll pay $5627 in total and a average of $562.7 per problem fixing."
So, I guess it really is a guessing game.
I know I used the EW on my 2000 Dodge Dakota Truck 4 X 4 and wish that the coverage period was longer then than the 100,000 KM as I put another $1,600.00 into power steering repairs at 146,000 KM.
So I think I will get the EW.
If it was an Acura or Lexus, I probably wouldn't.

[collinp]

Originally Posted by HRC

Collin,

Do you think you can bargain with the dealership on the prices? My fiance recently purchased a TSX and when we said no to the extended warranty, the F&I guy dropped the price right away.

Danny

We'll see. I've talked preliminary numbers on the car with my salesman, but he says that the coverage plans are handled by the finance department not him. So I'll have to talk to those guys. My salesman said he thought that all BMW Centers had to sell extended coverage for the same price. I don't know if I believe that.

- Collin

[collinp]

Originally Posted by Big Foot

So I think I will get the EW.
If it was an Acura or Lexus, I probably wouldn't.

I am coming from an ultra-reliable Acura and my biggest concern with the BMW is reliability. Almost everyone I know who owns a BMW has had to do some pretty major repair work to keep the car running in top condition. Surprisingly these same people still absolutely love their BMWs. Add to this the fact that I'm getting a first model year car and I am quite concerned that this thing is going to be in the shop a lot. If it is I sure as heck don't want to be paying for it out of pocket. I am also a 20,000+ miles a year driver, so I'll use up the standard warranty real quick. I am definitely getting an extended warranty and extended maintenance coverage.

- Collin