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      04-24-2013, 10:10 AM   #1
tennis_pr0
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Debating on extended warranty

So I got a price on an extended warranty of 2600. I have a 2007 335i with 33k miles on it. I would just finance the warranty over the course of 12 months, so I would be looking at 200 a month. It is a three year warranty. This seems like a good idea, but my car has such low mileage, I don't want to but it if I don't need it.

Do you guys think it would be a good idea to buy an extended warranty on the car or just roll the dice and not buy the extended warranty? This would basically add 200 a month to my current payment, which is a significant amount more so this is a tough decision to make.
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      04-24-2013, 10:18 AM   #2
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Here are the warranty option I can chose from
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File Type: pdf EasyCare Coverage Levels.pdf (144.5 KB, 113 views)
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      04-24-2013, 11:16 AM   #3
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This is not through BMW, correct? And which one are you getting for $2600
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      04-24-2013, 11:23 AM   #4
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It is not through bmw, I was thinking about getting the first one, option 1 through 5. I am actually leaning towards not getting it though. The two major problems the car has, hpfp and wastegate issues are covered by bmw for an extended length of time, the wastegate 8 years and the hpfp 10. So I don't thnik it's a good idea to spend the extra bucks on the warranty.
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      04-24-2013, 11:32 AM   #5
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I wouldnt get one, especially if you have mods. But if you must I would go to here.

https://www.penfed.org/Route-66-Extended-Warranty/

2k, very reputable, coverage is about the same.
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      04-24-2013, 11:38 AM   #6
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In a 335 I'd want one.
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      04-24-2013, 11:43 AM   #7
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I don't have any mods.
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      04-24-2013, 12:58 PM   #8
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I got my 08 335 two years ago with the exact miles you have on yours. Since then I've replaced the HPFP twice, water pump, 3 coils, 6 injectors, and intake carbon blasting. As far as I know only Rj HPFP would have been covered if I didn't have a warranty. Use that information as you will, but with a 335 I would get a warranty. Just got finished reading a thread about a guy being quoted 7k to replace the turbos
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      04-24-2013, 01:04 PM   #9
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Quote:
Originally Posted by nickvacc View Post
I got my 08 335 two years ago with the exact miles you have on yours. Since then I've replaced the HPFP twice, water pump, 3 coils, 6 injectors, and intake carbon blasting. As far as I know only Rj HPFP would have been covered if I didn't have a warranty. Use that information as you will, but with a 335 I would get a warranty. Just got finished reading a thread about a guy being quoted 7k to replace the turbos
Exactly...seems that there are a lot more issues that occur other than wastegate rattle and HPFP. People have turbo problems not linked to wastegate rattle and your out $7,000. I spent $4,000 on mine which covers the electrical equipment as well (since I have idrive and HK sound). Mine is through BMW as well.
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      04-24-2013, 06:37 PM   #10
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2006 BMW 330xi  [0.00]
I purchased my extended warranty with my 06 330xi back in January. It had 78k n I got a 5 yr or 125k. It costs me $78/month with a $50 deductable. It is AWESOME!!!! My CCC mod went out and all I paid I'd 50 bucks. Gotta love it.
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      04-24-2013, 07:46 PM   #11
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Why pay monthly on an extended warranty? Well, the way I look at it is the dealer tries to do that to you when the car is new. Pay at the very last minute possible, now, it's when your factory warranty is still in effect. Insurance is a prepaid expense already, I mean we all pay 6 mos. of auto insurance in advance and let them take it out of checking to realize the biggest discount. These things should not be spread out over time imho...
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      04-24-2013, 08:00 PM   #12
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Quote:
Originally Posted by marcus321
I wouldnt get one, especially if you have mods. But if you must I would go to here.

https://www.penfed.org/Route-66-Extended-Warranty/

2k, very reputable, coverage is about the same.
I second this option. I have a 328i and the 1800 that I spent has already paid for itself and I have another 30k miles to go. they did tell me to wait until the BMW factory warranty expired before jumping into it though. I don't remember the exact reason but it has worked out for me so far.
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      04-24-2013, 08:34 PM   #13
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get it!!
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      04-24-2013, 09:35 PM   #14
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Depends how your diy knowledge, tools, and if you have dealer software. But 335's seem to be a lot more expensive to repair. Id not get one for my 330 thats for sure.
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      04-24-2013, 09:53 PM   #15
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I would be extremely wary of any NON-Factory "extended warranty". From experience, the fine print will exclude just about every part that can go wrong. Mostly the extended warranties make money for the dealership.

Example would be most nationwide warranties will not cover things like the ECU, etc...

I would probably just suck it up, make sure you've got some cash handy for any needed repairs and move on.
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      04-24-2013, 10:08 PM   #16
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Quote:
Originally Posted by Revlis View Post
I would be extremely wary of any NON-Factory "extended warranty". From experience, the fine print will exclude just about every part that can go wrong. Mostly the extended warranties make money for the dealership.

Example would be most nationwide warranties will not cover things like the ECU, etc...

I would probably just suck it up, make sure you've got some cash handy for any needed repairs and move on.
On paper an extended warranty is not a good idea. The fact is the warrantor must pay less in claims then they take in... a lot less. They must cover their overhead and profit. Typically they do this in several ways. 1. Make it very difficult for you file a claim. 2. Make it very easy for them to deny a claim. 3. Go out of business before you have a claim. 4. Expect you to have an accident or sell the car. 5. Hope you forget you have the warranty. This is the business model. If you are okay with that and you know that you can afford exactly $200 per month and no more and you know that you will have a failure that is covered, then go for it.

Here is another alternative and one that I think is much better, but it requires some self disciple. 1. Save $200 per month. 2. Keep your credit score up.

If you can do those two things then you are in excellent shape and here is why.

1. If you have no failures, you will have all that money for other purposes.

2. If you have a failure, but it is less than what you have already saved, you get to pocket the difference and you do not have to go through any hair pulling claims process. You are the claims department.

3. If you have a big failure, you can go to the bank and get a personal loan for the repair and pay the bank back at a low interest rate. You will be able to negociate terms based on your current circumstances.
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      04-24-2013, 10:40 PM   #17
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Shop around, read the WHOLE contract, make sure it includes seals / gaskets and is pro rated refundable even after claims are made.

Note - the BMW warranty doesn't include seals/gaskets if they leak and are not refundable after claims are made or if your car is totaled.
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      04-24-2013, 10:40 PM   #18
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Shop around, read the WHOLE contract, make sure it includes seals / gaskets and is pro rated refundable even after claims are made.

Note - the BMW warranty doesn't include seals/gaskets if they leak and are not refundable after claims are made or if your car is totaled.
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      04-24-2013, 10:42 PM   #19
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The reality is that any way you slice it, the underlying question is a crap shoot.

You can put $200 away per month and two years later your turbos can go. That's $4800 that was banked vs a $7000 or so repair. I don't know about you, but having to go to a bank for a $2200 loan after saving a high-end motorcycle payment per month for two years would leave a bad taste in my mouth.

Alternatively, you can find a well respected warranty company and do your homework on what they do and don't cover. That pen union company looked pretty interesting.

I own a Nissan Murano for which I purchased a Totalcare warranty from a company named Easycare. I paid $2100 for the warranty and it has paid out close to $5000 in repairs including an ac clutch and condenser, cv boot, wheel bearings, a tranny leak, gas tank replacement (who would have thought I'd need that?) and even a punctured tire.

As I mentioned above, I am also lucky to have the cpo warranty on my bimmer. Otherwise I would have paid about the same amount in repairs to my 335. Both of these cars started out with 32k on the odo and now have about 65k after two years.

Everyone is going to have a different opinion on this; no one is going to be right (except in hindsight).
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      04-25-2013, 01:38 AM   #20
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Quote:
Originally Posted by nickvacc View Post
I got my 08 335 two years ago with the exact miles you have on yours. Since then I've replaced the HPFP twice, water pump, 3 coils, 6 injectors, and intake carbon blasting. As far as I know only Rj HPFP would have been covered if I didn't have a warranty. Use that information as you will, but with a 335 I would get a warranty. Just got finished reading a thread about a guy being quoted 7k to replace the turbos
Hey incase you guys didnt hear the turbos are now covered under bmwna warranty for 8 years / 82000 miles, which ever comes first. im getting mine fixed right. only down side is its been almost a week with out my baby and i miss her
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      04-25-2013, 05:30 AM   #21
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Put that money down on a new car with less turbos.
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      04-25-2013, 06:57 AM   #22
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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.
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