[JimmyB1]

I 'm sure there are lot of opinions out there and would be interested in your comments around extended warranties.

I have a 2016 BMW 528i xDrive with 49,000km. My 4-year coverage is up in April 2020 and am considering extending the warranty (Platinum warranty) for 3 additional years at a cost of $4100. This will give me coverage up to 100,000 km.

The coverage of the plan seems reasonable (excludes normal wear and tear) but the question is whether I'll spend $4100 over 3 years in additional charges. Any thoughts or comments as to whether this is money well spent?

I plan to put on approx 15,000 km per year. Thanks

[mediocrechris]

I'm not a warranty expert, but $4100 seems really high. Don't know how warranties work in Canada though.

Have you have any luck with the forum searches? There are tons of threads about warranties, but they usually involve USA warranties.

[Boulder Bill]

I posted a recent thread about my favorable experiences with a Route 66 Warranty that cost significantly less than $4,100 (US or Canadian!).

[Rob09msport]

If modding def go third party. If your a diy guy and drive nice I'd put the money in high interest savings.

[OnlyGerman]

Price seems high given it is only 3 years additional. If it were 5+ it would be acceptable.

[JimmyB1]

Thanks for the feedback guys. Based upon this, I think I will pass. I also looked at past threads and while there were many views, I think the majority was of the opinion that it wasn't worth the cost.

[perrymaxima]

Route 66 is 5 years 100k warranty, zero deductible, free towing/roadside assistance and is backed by assurance insurance. Price is $2995 usd. It’s cheaper and better than the CPO. On and it’s transferable.

[F10Dan]

We purchased a 2016 528xi for my wife last year. It now has 56k miles on it. For the life of the car it has only had wear and tear items replaced. Last month we needed to do a significant amount of work: brakes and rotors, new tires, 50K service, oil change, alignment wiper blades... There are no leaks or anything else that needs to be done and all of what was done was again wear and tear. An additional warranty would provide peace of mind but the cash would be better placed in an interest yielding account.

[OnlyGerman]

Originally Posted by F10Dan

We purchased a 2016 528xi for my wife last year. It now has 56k miles on it. For the life of the car it has only had wear and tear items replaced. Last month we needed to do a significant amount of work: brakes and rotors, new tires, 50K service, oil change, alignment wiper blades... There are no leaks or anything else that needs to be done and all of what was done was again wear and tear. An additional warranty would provide peace of mind but the cash would be better placed in an interest yielding account.

Timing chain issues in the 528i, better off with the warranty...

[F10Dan]

Originally Posted by OnlyGerman

Timing chain issues in the 528i, better off with the warranty...

On a ‘16? I though earlier models were of concern. At any rate I periodically try to lift the chain through the fill cap. Always very tight. Always quiet too.

[someone16]

Looks like they jacked up the prices on warranty here in Canada compared to a few years ago. They were probably losing too much selling them at the old prices.

I'd look at aftermarket warranties and see how the pricing is. I would check out CoverageOne or Obvi.

I would strongly recommend a warranty though, as BMW parts + labor aren't cheap. I have a 2012 550i, and not sure how much improved a 2016 would be, but if I had to pay for all the repairs instead of warranty I would probably go broke.

[F10Dan]

I am beginning to think that there is an illegal arrangement between the third party warranty companies and dealers... The only way these outrageously expensive warranty plans make sense is if you use dealer prices for repairs. The BMW/Mini dealer wanted $750 to fix my son’s Mini Cooper crank seal leak. We did it together with common tools, total amateurs, $12 in parts in 2 hours total. And we had fun together!

But, people factor stuff like this into their decision: If its going to cost $400 for an oil filler gasket, $700 for a valve cover seal... The thing is these are stupidly simple repairs with parts that are expensive compared to Ford or Chevy but, in reality, not that bad.

We are paying for everyone’s healthcare, the dealerships expensive showroom, AC bills, on and on... DIY or go to a good Indy and forget about the warranty.

Sorry for the rant.

[ezaircon4jc]

Originally Posted by F10Dan

I am beginning to think that there is an illegal arrangement between the third party warranty companies and dealers... The only way these outrageously expensive warranty plans make sense is if you use dealer prices for repairs. The BMW/Mini dealer wanted $750 to fix my son’s Mini Cooper crank seal leak. We did it together with common tools, total amateurs, $12 in parts in 2 hours total. And we had fun together!

But, people factor stuff like this into their decision: If its going to cost $400 for an oil filler gasket, $700 for a valve cover seal... The thing is these are stupidly simple repairs with parts that are expensive compared to Ford or Chevy but, in reality, not that bad.

We are paying for everyone’s healthcare, the dealerships expensive showroom, AC bills, on and on... DIY or go to a good Indy and forget about the warranty.

Sorry for the rant.

Not all of us have the tools, ability, a lift or time to do these repairs. From my experience, the price of parts is on par with Ford or GM; and the dealer hourly wage isn't that much more than what I was paying at my Ford/Lincoln/Mercury dealer. I can't get my daughter over here long enough to change the serpentine belt on her G37. The YouTube says it should take 20 minutes. I'll bet it'll take me 2 hours.

There is no collusion. If warranty companies didn't make money they wouldn't be in business. They may pay out big dollars for one make and pay out next to nothing for another. I've purchased a grand total of 1 extended warranty and I lost big time. The only failure was a hose that wasn't covered. Also, wear items are rarely covered; and the list of wear items is usually long and includes things that we would not. I even foolishly bought the maintenance agreement for my 2014; I'll lose money on that too. Warranty companies make money on people's fear.