[GTATX]

Hey guys so I'm at 46K miles right now and purchased Endurance diamond protection for $3800 4 year 100k. Local BMW dealer I spoke with recently offered BMW 2 year 100k for for $4100 plus $300 financing fee. Please give me ur thoughts if anyone of u have experience with both companies. Thx

[ezmaass]

My gut reaction is - "whoa, that's expensive!"

For approximately $4k, I'd just take my chances. Odds are in your favor. Companies ultimately need to make money on these warranties, which means unless they've got the market wrong, the majority of owners won't see repair bills that exceed the premium - the company would be bankrupt otherwise. When buying these policies, you're essentially gambling - and unfortunately, you're playing against the house.

Sure, if your transmission blows up, the warranty has paid for itself. Then again, how often does that happen? You'll need to have more than $4k of repairs before the policy starts to pay for itself... and while it's clearly possible, it's also quite possible you only end up with $2k of issues in that timeframe.

Personally, I'm a big fan of insurance - which covers you for liability in situations that have potential for financial devastation. But low dollar figure risks (be it anything from extended warranties for electronics through cars), I think the buyer usually loses.

Bottom line? I'd take my chances without it.

[The Beast]

Yeah I always self insure, way I see it if I had insured every car that I've owned out of warranty then I would have to have some huge expense on the current one to cover multiple the years of premiums I would have paid for as I've never had an issue to date yet...

[GTATX]

I get what y'all saying but if I have to pay $140 a month out of pocket for 2 years n my car is covered bumper to bumper for peace of mind I think it's worth specially on a bimmer. I have Tundra and no warranty on that coz I know more than likely repairs ain't gonna be much in that if any.

[VB5ER]

Originally Posted by GTATX

I get what y'all saying but if I have to pay $140 a month out of pocket for 2 years n my car is covered bumper to bumper for peace of mind I think it's worth specially on a bimmer. I have Tundra and no warranty on that coz I know more than likely repairs ain't gonna be much in that if any.

Had an 08 tundra before this f10, driver side mirror motor went out so they replaced the whole mirror. $960/bucks. I was a little surprised by the cost. I had an extended warranty so I just paid the deductible. That Warranty was $1050 for 7yr 100k on a new tundra. I kept it 5 1/2 yrs and 30k miles and got back $200 when I traded on the BMW. The mirror was the only warranty item so I basically broke even on the deal. The BMW was out of factory coverage (2011 535i) so I got a 6yr/60k platinum (bump to bump) warranty w/$250 deductible for about $3200. That covers my 2011 until 2020 and 94k miles. It is a "gamble" spending the money upfront just in case something happens but I feel good about owning the car and knowing most repair work will only cost me $250. If a mirror is $960 on a tundra I can imagine the price of repairs on a BMW can escalate quickly.