Hey all,

Unfortunately, I am looking to trade my E60 in for a new car.

I purchased the extended warranty on my car, which I think was around $2,000-2,500

soooo...when I trade my E60 in to another dealer (non BMW dealer) do they have to pay me for the extended warranty that i bought? or can I contact BMW and have them pay me back the remaining amount of warranty I did not use? thanks!

 

I thought the extended warranty is tied to the car (mine is CPO so its tied to the car), Is it a third party warranty?

 

I bought it from BMW in Tucson Arizona.

 

soooooooooooooo...Do you have the agreement, and can you read? As far as I know, they owe you back exactly nothing, but I'm sure they'll be glad to write you a new policy for your new car! Old policy non-transferrable, of course. Next time put that money in a savings account (slush fund) and draw off of it as you need it.

 

Just try to use the "Extended Warranty" as leverage to get as close or close to top dollar for your car! You can not sell it back it is tied to your Vin

 

Okay, that is what I was looking for! So, when the new owner buys my old E60, they will automatically have the extended warranty on the vehicle?

 

Read your contract! It will clearly state whether or not the warranty is transferable, what paperwork and fees may be involved, or whether you can cancel due to sale and get back a pro-rated share of what you paid.

 

The answer is "no" to prevent folks from selling cars with active policies to friends, whether it's through a dealer or not. Believe me, if your repair costs exceed what you've agreed to pay for the policy, they will start exercising loopholes to keep them from getting too badly reamed. They will pay for repairs that equal your payments to date, and rarely a cent more.

These companies also have an affinity for changing their names, telling the customer that they were sold and any further business with the prior company is now null and void. Sorry! But they'll be glad to sell you a new policy! Sure, there are laws that protect the consumer, but any successful service policy company (extended warranties are only issued by the manufacturer, and in this case, unless BMW sold you the policy, it is simply a Service Contract, NOT an extended warranty) will have full knowledge of the laws, and it becomes a simple matter of 'buyer beware.'

Service contracts, or 'extended warranties' as they are misunderstood, are a huge crock of dookie. Keep your money under your mattress or in a bank, and spend it when only absolutely necessary.

 

Thanks for clarifying! You helped me out a lot..compared to these other people being rude.

and yes, the extended warranty was purchased directly from BMW when I bought the car---I added it while in the finance office at BMW Tucson.

 

Good luck! Still read over the contract and see where you stand. Be careful!