ch7656

Hello fellow members-
Looking for some help here - my 07 550 is quickly approaching 50,000 miles and at the time of purchase (CPO vehicle) I was offered an extended factory service contract...I decided to pass knowing that I had until 50,000 to buy the contract - well I'm getting close to that mile mark so its time to start shopping.

Any of you have a suggestion as to who can offer the best price on service contracts - who is a friend of the forum out there that sells oem contracts

Thanks everyone

Chris

v_therussian

Chris,

Not because I have a connection for a guy that sells them, but just because it might save you some dough. The CPO contract is basically a 3rd party deal - it is not an extension of the BMW Factory Warranty, that some people think it is. If you read the fine print, you'll see that it excludes some things. I'm telling you this because you might be able to save a crap-load of money or get a much better coverage elsewhere.

If you wanna talk to my buddy about what he can offer, feel free to shoot him an email to bim.auto@yahoo.com his name is Eli Cohen and you can tell him V sent ya

Speed_Force_E60

I'm in the same situation. I'm at 49,300...

I googled Warrantydirect.com and they seem decent. Anyone have thoughts on this company?

Here is a quote list I got from them:

v_therussian

3yrs/60k mi seems to be the best deal, but I'd bargain with them. HARD! These things have an incredible amount of mark-up in them - more than imported furniture. Offer them half the price that they're asking and go from there. If you don't get at least 30% off, I'd say, keep looking.

Speed_Force_E60

3 years 60K Elite or standard is the better deal?

v_therussian

Dude, this is impossible to tell without reading the ENTIRE small print on both. Buying an extended service contract is like buying health insurance from a drug dealer, who also happens to be a licensed attorney.

another thing worth mentioning: VERY IMPORTANT that you research the re-insurers (backers) of the warranty company. Usually the administrators of the warranty are only the names that are on the contract - they go out of business on a pretty regular basis if they sell contracts for lower prices. An administrator going out of business would mean that the claims will be handled by the re-insurer of your policy, which means that you have to buy a policy that is re-insured by a reputable company, or your claims may be denied completely.

You get what you pay for in this case too, so if a reputable contract is 2000 and an unknown company is offering same terms for 1500, it makes total sense to spend the extra 500 and have the peace of mind that your contract won't terminate with the administrator's demise (which, I'm sorry to say, is a very likely occurrence - particularly, in the day and age we're living in).

ch7656

thank you for the information - i do have the CPO warranty already up to 100k - Im investigating the extended maintenance contract for the car - sorry if I wasnt clear enough in my post - thanks again and please keep the info coming

redEYEjedi

Though I may not have my e60 yet, a lot of the choices I have on the market are along the same mileage of your cars, and I am on the same boat, though I have yet to be on that boat so to speak. I did some research through google and other BMW forums and here is what I came across.

http://www.m5board.com/vbulletin/e60-m5-e6...tml#post1569010

In that thread I came across a guy named Bruce M who sells 3rd party warranties. I actually found that same member lurking on Audiworld when I was researching the Audi A6 before I decided I wanted a BMW 545i, which I am still looking for. He sells Fidelity warranties that are exclusionary which seems to be the best choice since the list of things NOT covered would be much smaller compared to a normal warranty.

The general consensus is that regardless of what company, look for an exclusionary contract. HOpe that helps.