nicewithit

Indeed another warranty question but this is one is a little different.

So i bought an 07 550i with 29,000 miles on it about a month ago. Recently I've been asking around for quotes on extended warranties. The first dealer said he can only sell me bmw extended maintenence as I was not the original owner. He then said if i wait till my 50k is almost up he can sell me a extended warranty for another 4yr/50k on top of my existing warranty for 2800. I called later to ask if it was a third party and he said yes.

I then called another dealer and the finance manager said she could sell me an extended warranty of another 2 years on top of mine and a total of 85k miles including what i have already for 3800. I then asked if this was from Bmw and she said its also a third party.

I'm sure i read about many people buying BMW extended warranties from dealers on this forum without being the original owner so I'm confused now. Does it depend on the car ? Are those warranties actually third party warranties and they didn't bother to ask? I guess I'm just curious how some people are buying bmw extended warranties but the dealers here are telling me bmw doesn't allow that.

Robert A

Last I checked, official BMW warranties are only available to original owners. IMO, I think they cost too much for the benefits provided and I think you're better off self-insuring by putting the warranty premium in a savings account.

Dealers also offer 3rd party warranties, but you can often get better deals on those same warranties by looking on the Internet. Warranties vary significantly -- look at the stability and reputation of the company, inquire if they have a major insurance company backing them, and by all means get an "exclusionary" warranty. An exclusionary warranty covers everything except named components -- this is the highest level avaiilable.

jcool10181

I have a used 2004 X5 and i just recently bought a 2yr 100K mile warranty for $2100. Good luck!

gotabyte

Be careful with 3rd party warranties. They often will not cover the entire amount of the part being replaced. They place limits on how much they think a part should cost and you pay the difference. I've had this problem where they wanted to only pay $150 of a $400 alternator.

nicewithit

Yeah I supposed I just wanted piece of mind. If I had an extended warranty I wouldn't be as conscious about putting on more miles. But if a warranty is costing me almost 4k, I'll probably just drive the thing and if something goes wrong then I'll fork up the money as they come.

Thanks to everyone for their replies!

gregg2gs

U absolutely need a warranty on the 550i...If anything breaks you are talking $1,000s to fix if not covered. if you have no cash flow issues, then roll the dice and dont get one. I know I cant affors to fix just anythin on mine and thats why I purchased a CPO and extended maintainence to 100k...

nicewithit

I'm not swimming in cash or anything like that. But if something goes wrong after warranty then surely I'll be able to pay to get it fixed. I guess it comes down to whether I want to pay 3-4k now(depending on which warranty I buy) knowing I may never use it, or cough up the cash later if something does go wrong with my warranty is up. I'm thinking the latter might be a better choice? If you have any experience with this please tell me otherwise.

bimmerluuvr

I'm considering the purchase of a 3rd party warranty, and I see you guys urging caution when doing so. Can anybody name some of the better and not-so-great ones? My dealer is offering coverage from Fidelity Warranty Services. I saw that they earned a grade of C- from the BBB, which appears to be "middle of the road" anybody have any comments on this company?