2006 550i -- Extended Warranty?
06-19-2009, 09:57 AM
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Hello all:
Just joined the forum and first post is about, well, of course an extended warranty. I literally just purchased my long awaited 2006 550i that has 48k miles on it. I need to make a decision about an extended warranty....in the next 2k miles it appears. So, this was a one owner car that recieved all the BMW maintenance and appears to have a healthy record, but still, you never know.
I drive 8-10k miles per year...so should I just opt of a 3 yr 75k extended warranty for about $1500? Is that stupid? Should I pop for the 100k warranty?
I really have no idea and would love to hear your thoughts....I have a feeling extended warranty discussions result in a 50/50 split vote but here goes....
Oh and I will update with photos as soon as I pick the car up. Thanks!
Just joined the forum and first post is about, well, of course an extended warranty. I literally just purchased my long awaited 2006 550i that has 48k miles on it. I need to make a decision about an extended warranty....in the next 2k miles it appears. So, this was a one owner car that recieved all the BMW maintenance and appears to have a healthy record, but still, you never know.
I drive 8-10k miles per year...so should I just opt of a 3 yr 75k extended warranty for about $1500? Is that stupid? Should I pop for the 100k warranty?
I really have no idea and would love to hear your thoughts....I have a feeling extended warranty discussions result in a 50/50 split vote but here goes....
Oh and I will update with photos as soon as I pick the car up. Thanks!
06-19-2009, 10:14 AM
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My Ride: E90 M3
Model Year: 2011
Welcome aboard Walt!
Some info on your location will help with future questions. As for the extended warranty, their is no clear majority. It is essentially a crap shoot. Car could be fine and you've wasted the money. The three year, 25k mile extension to the factory warranty is cutting it close on the mileage based on the 8-10k of annual driving you highlight so you might not get the full three years out of it. I'm generally not a fan of extended warranties for anything I buy, but if helps you sleep at night, go for it.
Some info on your location will help with future questions. As for the extended warranty, their is no clear majority. It is essentially a crap shoot. Car could be fine and you've wasted the money. The three year, 25k mile extension to the factory warranty is cutting it close on the mileage based on the 8-10k of annual driving you highlight so you might not get the full three years out of it. I'm generally not a fan of extended warranties for anything I buy, but if helps you sleep at night, go for it.
06-19-2009, 10:27 AM
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Welcome and congratulations on your new wheels. I bought the BMW extended warranty for my 2004 545i. I didn't want to worry about some expensive fix. I haven't needed the warranty yet, but I sleep good at night.
06-19-2009, 04:31 PM
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Walt,
What a coincidence. I have an 06 550i with 45,000 miles. Knowing how expensive repairs would be I bought the $100k 7yr warranty with no deductible. It was a 3rd party plan, not as good as a factory warranty. I got the car with such a good deal at 26k miles I didn't mind kicking in the extra $4k for the warranty. Hopefully, if I ever need it, there won't be too much of a hassle.
Pitchar
What a coincidence. I have an 06 550i with 45,000 miles. Knowing how expensive repairs would be I bought the $100k 7yr warranty with no deductible. It was a 3rd party plan, not as good as a factory warranty. I got the car with such a good deal at 26k miles I didn't mind kicking in the extra $4k for the warranty. Hopefully, if I ever need it, there won't be too much of a hassle.
Pitchar
06-19-2009, 08:26 PM
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My Ride: 545iSMGSilver GrayAuburn Dakota LeatherLogic 7 Premium SoundSports Package
3 yr 75k extended warranty for about $1500 is good... given that its reputable...
a 2 year 100K warranty from BMW is like $3000! I would never hit a 100K miles so for me its basically the years...
a 2 year 100K warranty from BMW is like $3000! I would never hit a 100K miles so for me its basically the years...
06-22-2009, 05:30 AM
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Originally Posted by pitchar' post='917534' date='Jun 19 2009, 08:31 PM
Walt,
What a coincidence. I have an 06 550i with 45,000 miles. Knowing how expensive repairs would be I bought the $100k 7yr warranty with no deductible. It was a 3rd party plan, not as good as a factory warranty. I got the car with such a good deal at 26k miles I didn't mind kicking in the extra $4k for the warranty. Hopefully, if I ever need it, there won't be too much of a hassle.
Pitchar
What a coincidence. I have an 06 550i with 45,000 miles. Knowing how expensive repairs would be I bought the $100k 7yr warranty with no deductible. It was a 3rd party plan, not as good as a factory warranty. I got the car with such a good deal at 26k miles I didn't mind kicking in the extra $4k for the warranty. Hopefully, if I ever need it, there won't be too much of a hassle.
Pitchar
What company is your 3rd party plan through? I've been searching for a good 3rd party warranty for my '07 550i and the cheapest I've found so far is $5.6K!
06-29-2009, 08:05 AM
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Originally Posted by PanPanks' post='919762' date='Jun 22 2009, 07:30 AM
What company is your 3rd party plan through? I've been searching for a good 3rd party warranty for my '07 550i and the cheapest I've found so far is $5.6K!
Hope this helps,
Mark
06-29-2009, 10:17 AM
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I ended up purchased a no deductible 3-year or 75k mile warranty for $1475 through Old Republic Title...I am in Kansas City....Thanks to everyone that replied. I will try to post photos soon.
