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2010 2011 BMW 5 Series Forum F10 Extended warranty for low mileage cars?? |
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08-16-2019, 10:33 AM | #1 |
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Extended warranty for low mileage cars??
I am posting this to help my mother out she recently purchased a pristine certified preowned 2016 535i MSport.
When she bought the car at the dealership it only had 14,000 miles on it. She averages no more than 10,000 miles a year or less. The dealership quoted several different warranty programs however they're all based on timing and mileage from the date of original sale. for example they have a program that goes out 72 months or 100,000 miles. The only problem with these programs is that they all terminate after a certain number of months and in my mothers situation when her car is 72 months from the original in-service date she'll probably have under 50,000 miles on the car. She likes the idea of having some warranty in the event of some unforeseen catastrophic problem but it doesn't really make sense to purchase the warranty when she's going to have such a low mileage car at the expiration of the warranty. Her situation must not be that uncommon I'm curious if there are any warranty programs that might have longer time periods ...84 months ? But would have lower mileage restrictions resulting in a lower premium? Or would you just bank that money cross your fingers and not by any kind of third-party warranty??
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Sean
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08-16-2019, 10:38 AM | #2 |
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As it is the 535i, I would just bank the money. As long as she does the regular maintenance, fluid changes, etc. as required she should be fine.
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08-16-2019, 11:14 AM | #3 |
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I suggest Route 66 warranty, available through credit unions. You can somewhat customize mileage for a given warranty time period. Worth it to me as the leaking oil filter housing gasket was fixed under the Route 66 warranty, saving me $800.
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Larry
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08-16-2019, 03:11 PM | #4 |
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Bank the money. The 535 should be fairly solid
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08-16-2019, 04:00 PM | #5 | |
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Quote:
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08-16-2019, 09:38 PM | #6 |
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My CPO '14 with 44k mi has required about $3100 of warranty repairs (so far). The CPO expires in December.
A Route66 4-yr/120k extended warranty breaks down to $48/mo., which I think is worth the peace of mind.
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08-17-2019, 10:36 AM | #9 |
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I have N63 is known for troublesome engine and I have extended warranty thru 2021. I paid $2800 and for the last 2 years, the repair cost would have been $7500, and $2500 were associated with the engine and the rest were door actuators, control arms, and backing cameras. I think it's a good idea to have one and I am glad that I did.
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08-17-2019, 01:17 PM | #10 |
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It's a personal decision, I do not purchase extended warranties on anything but that doesn't make them a bad decision for everyone. I would say if owning this car gave her repair anxiety, why not not just own a different car that she would be comfortable with for the long haul? As a low milage driver, I would bet her car will just need scheduled maintenance for the next ~5 years
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08-17-2019, 06:09 PM | #11 | |
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If my current CPO hadn't been a CPO, my wallet would be hurting already. One advantage of an extended warranty is that it is transferrable if you sell the car -- which, especially with a BMW, will almost certainly make it more valuable or at least make it more attractive. Alternatively, you can get a pro-rated premium refund if you choose not to transfer it. Check with your local indy shop for recommendations. Route66 has a good rep, as does Zurich and others. You'll find anecdotes of horror on the web, but I'd think the majority of happy warranty customers don't post about it.
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