[skydiver22]

My 535i is going to go out of warranty in two weeks. I am looking at picking up the extended 3 yr/110k platinum warranty plan along with the 2yr maintenance plan. Do not really have the time these days to call every finance guy at each dealership to get quotes. So....
If you have recently bought this warranty/maintenance plan, how much and who did you go thru (Name/number). Locally I am getting quotes of just over 6k for both.
Thanks for any leads you can provide...

[ezmaass]

Ouch - that seems expensive. There have been a number of threads on here just recently where a bunch of people posted their quoted extended warranties along with where they purchased or were quoted. I'm sure you can find it with a quick search.

For that kind of money, you may be better off "self insuring" and taking your chances. Set a pain threshold and sell if you start to approach it.

[493263]

Originally Posted by skydiver22

My 535i is going to go out of warranty in two weeks. I am looking at picking up the extended 3 yr/110k platinum warranty plan along with the 2yr maintenance plan. Do not really have the time these days to call every finance guy at each dealership to get quotes. So....
If you have recently bought this warranty/maintenance plan, how much and who did you go thru (Name/number). Locally I am getting quotes of just over 6k for both.
Thanks for any leads you can provide...

If your warranty is expiring in 2 weeks, does that mean your build date is in 2010? If so, I would just sell/trade it. ~$6k for platinum is way too high. I highly doubt any dealer will quote you anything fair. I hear that many dealers will quote you higher the closer you are towards warranty expiration. $6k is pretty much a down payment so you might as well use it as such. Maintenance plan is another $2500 to extend to $100k. That's about $8k that you could put down on a new BMW and get better factory warranty/maintenance coverage with Roadside assistance.

You can also shop around for EasyCare(best choice). I checked USAA and it's absurdly high as well.

If you had maintained your vehicle properly by the recommended schedules, the dealer could sell your car as CPO and most likely pay you a little more than the usual trade in.

[skydiver22]

Originally Posted by 493263

If your warranty is expiring in 2 weeks, does that mean your build date is in 2010? If so, I would just sell/trade it. ~$6k for platinum is way too high. I highly doubt any dealer will quote you anything fair. I hear that many dealers will quote you higher the closer you are towards warranty expiration. $6k is pretty much a down payment so you might as well use it as such. Maintenance plan is another $2500 to extend to $100k. That's about $8k that you could put down on a new BMW and get better factory warranty/maintenance coverage with Roadside assistance.

You can also shop around for EasyCare(best choice). I checked USAA and it's absurdly high as well.

If you had maintained your vehicle properly by the recommended schedules, the dealer could sell your car as CPO and most likely pay you a little more than the usual trade in.

It was a 2010 build date and the 6k is for both plans. The car has 33000 on it and I have not had one issue since I bought it at 21000 last year. It's due for an oil change and I am sure they will replace the vanos bolts at that time, it is under the vanos recall. Just looking for what others have found price wise by shopping NA instead of locally.

[493263]

$6k for both is a good deal if you plan on driving 60-70k miles in 3 years. To give you an example of costs just for maintenance.

Brakes $900 each
60k service $1200
90k service $1200
Oil change $140
Spark plug $675
Micro filters $184

It will be worth it if you will put plenty of miles on it. It's almost certain that some electronics thing will break like your headlight motor. Mine broke twice already. Heat and Vibrations from driving the car is what eventually break complicated parts. If you know that you will just let it sit around then it's better to just keep your $6k.

For my 550xi I was quoted over $8.5k for both.

[ezmaass]

I think quotes of $6k - $8.5k say something very clearly: SELL.

These cars depreciate hard after the warranty period expires, and this is the reason why. Bean counters do non-stop math to ensure the premiums they're collecting outpace the payouts. If you take that as a premise, and you assume the price you're being quoted is the average business case, at $6k they believe they'd make a profit on you (the "average" business case).

Unlike many other types of insurance, where the downside risk is uncapped (liability and health to name two), this type of risk has a cap - the value of the car - and it would be extremely rare to have a single repair that came close to that cost. Therefore, I think it's probably wise to do one of the following:

1. Sell it, or

2. Self insure.

They're gambling that you don't need $6k in repairs/maintenance - you're gambling that you do, and then some, in order for there to be ROI. As I said, at that kind of price, and with only 33k miles on the car, I'd probably just take my chances and go without - this is assuming you can cover any kind of repair, even big and nasty, if needed. Alternatively, sell the car. But if it's 4 years old, 33k miles, and trouble-free, I'd probably gamble that you can go another 2 years or so without spending $6k - at which point, you sell.

[493263]

he just bought it last year. I doubt that would be a good idea. $6k for both maintenance and platinum is actually pretty good.

[The X Men]

Originally Posted by skydiver22

If you have recently bought this warranty/maintenance plan, how much and who did you go thru (Name/number). Locally I am getting quotes of just over 6k for both.
Thanks for any leads you can provide...

BMW change their extended warranty policy. The dealers are support to inspect the car and download the key fob info. A lot of the dealer will no longer sell to long distance buyer. Some will sell you a policy if you mail them the key fob and there are a few that will still sell you a policy over the phone.