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      09-13-2019, 12:19 AM   #1
ParrotBro
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2014 550i - Which extended warranty is worth it?

I plan to buy a 2014 BMW 550i locally and the extended warranty service they provide has bad reviews.

Is there a trusted extended warranty that can accept a used car after I buy it locally?
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      09-13-2019, 08:35 AM   #2
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Company named Route 66 offers extended warranties at different levels. I believe its Easy Street, Main Street and then the highest level (can't remember name). Each level covers more components. I've seen quite a few 550 owners use their warranties.
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      09-13-2019, 09:54 AM   #3
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yes you can try the one that I have. is call GWC. check out their website and get all the info from there.
I had to do over $5k worth of repair to the car and all I had to pay was $900
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      09-13-2019, 10:46 AM   #4
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I have CUNA auto warranty and had 6 repairs. No issues dealing with them. All my repairs were done thru dealer
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      09-13-2019, 10:32 PM   #5
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Quote:
Originally Posted by Bonawitz07 View Post
Company named Route 66 offers extended warranties at different levels. I believe its Easy Street, Main Street and then the highest level (can't remember name). Each level covers more components. I've seen quite a few 550 owners use their warranties.
I heard this one is good but you have to be on a loan with a partner bank or something like that.
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      09-14-2019, 01:10 PM   #6
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I heard this one is good but you have to be on a loan with a partner bank or something like that.
You just have to be a member. Most credit unions just want you to maintain $5 in a savings account.
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      09-14-2019, 01:35 PM   #7
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Originally Posted by NYC535iowner View Post
yes you can try the one that I have. is call GWC. check out their website and get all the info from there.
I had to do over $5k worth of repair to the car and all I had to pay was $900
Avoid GWC. They don't pay dealer labor rates and will cheap out on EVERY claim.
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      09-14-2019, 01:39 PM   #8
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Quote:
Originally Posted by ParrotBro View Post
Quote:
Originally Posted by Bonawitz07 View Post
Company named Route 66 offers extended warranties at different levels. I believe its Easy Street, Main Street and then the highest level (can't remember name). Each level covers more components. I've seen quite a few 550 owners use their warranties.
I heard this one is good but you have to be on a loan with a partner bank or something like that.
I have Route 66 my SA at the dealer calls and claims it for me... Got few stuff fix and no hassle... but I have 535. plus $0 deductible which is awesome!
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      09-14-2019, 03:59 PM   #9
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Quote:
Originally Posted by kohsin View Post
I have CUNA auto warranty and had 6 repairs. No issues dealing with them. All my repairs were done thru dealer
So is cuna the best one if I buy a car locally?

Route 66 sounds good but looks like you need a loan from a partner bank to even get route66.

Anyone have experience with https://www.tocowarranty.com?
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      09-15-2019, 10:45 AM   #10
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So is cuna the best one if I buy a car locally?

Route 66 sounds good but looks like you need a loan from a partner bank to even get route66.

Anyone have experience with https://www.tocowarranty.com?
Both CUNA and route 66 are national and they need to be a member of their associated banks or unions. I don't believe you need a loan to get rt 66. Usually, you pay $5 to open an account with their banks or credit union become a member, that's what I did with CUNA. I didn't pick rt 66 because my SA told me they are pia to deal with for some reason. At any rate, I have no issues dealing with CUNA since I signed up.
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      09-15-2019, 03:41 PM   #11
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Quote:
Originally Posted by ParrotBro View Post
So is cuna the best one if I buy a car locally?

Route 66 sounds good but looks like you need a loan from a partner bank to even get route66.

Anyone have experience with https://www.tocowarranty.com?
I'm pretty sure you don't need a loan. Membership at a participating credit union would be required. My credit union wants a minimum of $5 (yes, just 5 singles) to become a member. We haven't had a car loan through them in years.
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      09-16-2019, 05:26 AM   #12
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I am lucky to be able to afford my own extended warranty. Had I purchased EW every time, I would be around $22,000 in the hole, since I would rarely have an issue that would have been covered over 35 years of new car ownership.

There's no way around EW's profit to sellers. My daughter got one on her Fiesta for $240 from a smart Ford dealer who knows their profit is in warranty repairs, not sales.
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      09-16-2019, 03:35 PM   #13
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...
There's no way around EW's profit to sellers. My daughter got one on her Fiesta for $240 from a smart Ford dealer who knows their profit is in warranty repairs, not sales.
Not the factory warranty. When I had my Lincoln I had a relationship with the Service Manager who was also the owner's son. I learned from him they hated factory warranty service as it only paid 1/2 book time. They loved customer-pay repairs (that paid full book time).

If extended warranty companies paid out on a regular basis they wouldn't be around very long! Just like Vegas wasn't built on winners!
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      09-16-2019, 09:26 PM   #14
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Quote:
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So is cuna the best one if I buy a car locally?

Route 66 sounds good but looks like you need a loan from a partner bank to even get route66.

Anyone have experience with https://www.tocowarranty.com?
You do not need a loan, or pay anything extra. I got a Route 66 Warranty. OK yes I had to open an account with ONE DOLLAR in it in order to buy the warranty.

Go to the site https://web.route66warranty.com/page/faq email them at the contact email, with your city, and they'll email you back with Credit Union(s) in your area that sell Route 66. Then you get call/email the credit union for pricing (they'll give you various mileage/time options). It can all be done by email, you don't need to go into a branch.
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      09-17-2019, 09:20 AM   #15
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Quote:
Originally Posted by XLife14 View Post
Avoid GWC. They don't pay dealer labor rates and will cheap out on EVERY claim.
yes that is the only thing that sucks that they want to pay a rate of $75 max hourly for labor when here is NYC shop charge at least $125 hourly.
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      09-17-2019, 08:55 PM   #16
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Quote:
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yes that is the only thing that sucks that they want to pay a rate of $75 max hourly for labor when here is NYC shop charge at least $125 hourly.
WOW. They need to get with the times. Every German shop will charge at least $100+
They are honestly no good, used car dealers sell them a lot because of major profit$$$
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      09-25-2019, 12:51 AM   #17
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Quote:
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Anyone have experience with https://www.tocowarranty.com?
I want to know this as well. I got a quote from them about six months ago and it sounded decent.
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