Looking for Extended Warranty Advice
07-21-2009, 10:56 AM
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I recently picked up an '06 550 with 40k miles. Factory warranty expires at the end of October and I am looking to get an extended warranty. I called my dealer and the quotes seemed predictably high. They said that there are two separate warranties. A maintenance warranty and a mechanical warranty. They are two separate items and the coverages do not overlap. The maintenance was 2 yr/100k miles for $2600. Mechanical is 3 yr/36k for $2600 or 4 yr/48k for $2800. The guy said the maintenance warranty will pay for itself 2 or 3 times. He said everyone who gets the mechanical gets the maintenance and about 60% of those who get the maintenance get the mechanical.
What do you guys think about this info? Do most aftermarket warranties break down like this in terms of the separate maintenance and mechanical warranties? Or are most mechanical only?
I know there are a lot of shady 3rd party aftermarket warranties out there so do any of you have any good suggestions as far as coverage and price? I'm sure several of you must have dealt with the same thing at some point.
Thanks.
What do you guys think about this info? Do most aftermarket warranties break down like this in terms of the separate maintenance and mechanical warranties? Or are most mechanical only?
I know there are a lot of shady 3rd party aftermarket warranties out there so do any of you have any good suggestions as far as coverage and price? I'm sure several of you must have dealt with the same thing at some point.
Thanks.
07-21-2009, 11:47 AM
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Originally Posted by jherm' post='949135' date='Jul 21 2009, 02:56 PM
I recently picked up an '06 550 with 40k miles. Factory warranty expires at the end of October and I am looking to get an extended warranty. I called my dealer and the quotes seemed predictably high. They said that there are two separate warranties. A maintenance warranty and a mechanical warranty. They are two separate items and the coverages do not overlap. The maintenance was 2 yr/100k miles for $2600. Mechanical is 3 yr/36k for $2600 or 4 yr/48k for $2800. The guy said the maintenance warranty will pay for itself 2 or 3 times. He said everyone who gets the mechanical gets the maintenance and about 60% of those who get the maintenance get the mechanical.
What do you guys think about this info? Do most aftermarket warranties break down like this in terms of the separate maintenance and mechanical warranties? Or are most mechanical only?
I know there are a lot of shady 3rd party aftermarket warranties out there so do any of you have any good suggestions as far as coverage and price? I'm sure several of you must have dealt with the same thing at some point.
Thanks.
What do you guys think about this info? Do most aftermarket warranties break down like this in terms of the separate maintenance and mechanical warranties? Or are most mechanical only?
I know there are a lot of shady 3rd party aftermarket warranties out there so do any of you have any good suggestions as far as coverage and price? I'm sure several of you must have dealt with the same thing at some point.
Thanks.
The BMW extended warranty does not include electronics. Most aftermarket "exclusionary" warranties do and in other ways appear to be better than the BMW extended warranty.
07-21-2009, 12:17 PM
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Originally Posted by jherm' post='949135' date='Jul 21 2009, 02:56 PM
I recently picked up an '06 550 with 40k miles. Factory warranty expires at the end of October and I am looking to get an extended warranty. I called my dealer and the quotes seemed predictably high. They said that there are two separate warranties. A maintenance warranty and a mechanical warranty. They are two separate items and the coverages do not overlap. The maintenance was 2 yr/100k miles for $2600. Mechanical is 3 yr/36k for $2600 or 4 yr/48k for $2800. The guy said the maintenance warranty will pay for itself 2 or 3 times. He said everyone who gets the mechanical gets the maintenance and about 60% of those who get the maintenance get the mechanical.
What do you guys think about this info? Do most aftermarket warranties break down like this in terms of the separate maintenance and mechanical warranties? Or are most mechanical only?
I know there are a lot of shady 3rd party aftermarket warranties out there so do any of you have any good suggestions as far as coverage and price? I'm sure several of you must have dealt with the same thing at some point.
Thanks.
What do you guys think about this info? Do most aftermarket warranties break down like this in terms of the separate maintenance and mechanical warranties? Or are most mechanical only?
I know there are a lot of shady 3rd party aftermarket warranties out there so do any of you have any good suggestions as far as coverage and price? I'm sure several of you must have dealt with the same thing at some point.
Thanks.
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