lima

Hello everyone,

My extended warranty for my certified 2004 530 (build date 12/03) is about to expire. I would like to keep the car for a while but I'm afraid of the costly repairs for these cars. It's my first bimmer so I hope to hang on to it. Now I'm trying to look for a extended warranty for it, for another 5 years or so. I got a random letter from one company but I don't know jack about their reliability or reputation. Any suggestions?

Deano

I'm in the same situation. Can anyone recommend, based on experience, an extended warrantee for when the cpo warrantee runs out?

thanks,

rodneyremington

Funny how people worry about expensive repairs on a used car so they buy a new one costing many times per month what the old one would have cost them in repairs.

My advice, once the CPO is up, don't give your money to any of these shady aftermarket companies, just pay for the repairs as they come up and consider how much cheaper it is than monthly strokes on a new one.

lima

I actually asked around and I got quoted for $2450 for 5 years comprehensive and zero deductible. I think in 5 years, something major will show up in these cars, considering how complicated they are. But again you're right I don't know reliable they are.

theXman

If your car is running fine, then save that $2 grand and put it somewhere to earn interest or to invest (safely). When the time comes, cash it in and pay for the expenses. Those 3rd party extended warranty can be tricky, if you don't know what you're buying and you might end spending more money for the repairs. Just my 2 cents.

Alpine White Girl

i just talked to one of those companies today because ive got atleast 3 notices from them in the mail. I still have my extra 2 year cpo left so i told them to leave me alone for now. It depends on what you want to do because you can get 5 year 100k plans that cover EVERYTHING. Your going to pay over 3k but 1 major thing that goes wrong in a bmw its going to be thousands. They cover engine, transmission, drivetrain, brakes, electronics, and if you want everything in your car. You just have to make sure your getting the right plan (which will cost more) to keep you completely covered!

Its one of those things where if something major does happen that 3k+ is the best money you ever spent, and if nothing happens you feel stupid.

skylolow

+1

OP just do your home work on them. Search around on the different auto forums and talk to your local dealership. Also talk to a few indy repair shops that have been around in your area for decades they can point you in the right direction.

If you can find something that covers most the car for 5 years from a good warranty company for 2K I think its a no brainer. 2K in a BMW repair shop doesn't get much done. I'd be shocked in 5 years if you didn't get to at least use that warranty once or twice.

You know people always say invest 2K and take it out when you have an issue. Well 2K invested chances are in a few years will only be 2.4K or whatever. One issues will wipe that out. Then what?? Heaven forbid if you have two issues in one year or one big issues like a tranny go out(6K or so). 2K or so in todays automotive world just doesn't go far on a BMW.

za3879

I was in this boat a few months ago. I was crossing the 100k marker and I STILL got a bunch of notices in the mail to cover me to 150k or some nonsense. Its my understanding that an aftermarket warranty is something that must be handled VERY VERY carefully. You gotta read ALL the fine print. Ive had friends who got one recommended by the dealers and stuff, but when the time came - they didnt pay out because of some BS such as "oh the tranny is covered but it looks like there was excessive wear and tear more than normal on the vehicle from abuse" so they wont cover it.

I personally stay away from aftermarket warranties. After crossing the 100k marker, there hasnt been anything insane thats happend. Well, alternator costing 1200 bones. I just try to maintain the vehicle and chalk up whatever costs for repair under the 'I own a BMW, thus I must pay' category.

uheenada

well, first of all, there aren't that many aftermarket warranty companies that cover beyond 6yrs/100k.
And since OP is asking after cpo warranty meaning, he/she has at least 6 year old and/or about to hit 100k.
Then you know how your car been serving you. Most BMWs have problems because of lack of maintenance.
If you did proper maintenance per Mike Miller/old school maintenance I don't see why you need to get an
aftermarket warranty.
Also BMWs are all about preventative maintenance. Meaning "replace before it breaks" such as replace the radiator
around 70k would be around $600 at indy while trying to replace the radiator when it's broken will cause 1000+.

za3879

I hear you. I was surprised to get quite a number of aftermarket offers after crossing 100k.