HPLouis

I need some advice. I've been reading all weekend about extended warranties and I've seen that there are 2 camps when it comes to them.

Camp # 1 - Get it, you'll need it

Camp # 2 - Don't get it. It's better to take the money and put it in an interest bearing account for future repairs


Here's my situation. I finally parted with my 2004 545i after hitting the last straw. I had several leaks at one time (valley pan, oil pan, timing chain cover, oil pressure switch, etc.). the total was around $6K and I ended up trading it in for a 2008 550i. I tallied up all the bills from 7 years of ownership with the 545i and it came up to over $9,300.

The 550i comes with SAT, NAV, night vision, sport package, cold weather package, iPod integration, etc. It has 43K miles and is in excellent condition. It has the CPO until 11/14. All service done at BMW and no recalls.

I was looking at CarChex and they wanted $4684 for their titanium warranty with 5 years and 50k miles (I'd go out to 2018 at 93k miles).

I was thinking of getting it because of the auto tranny and the nav, but after going through this forum, I don't really see any big reliability problems with this car.

What do you guys think?

E60I

Here is my 2 cents experience:

1. When your car is fixed by you (if you can do it right), it tends to stay fixed.

2. When your car is fixed by a certain shop, it tends to want to come back to that shop to get something else fixed.

If you have extended warranty, you can care less about what's going to cost you nor worried about what can break next.

I bought my car with 4 miles on it and wished I had the extended warranty. I didn't think a new $58,000 car can be unpredictably unreliable.

Good luck with your decision!

rm4two

I guess it depends on your skill level and desire to fix your car. I personal like working on my cars and bikes so I tend to go for option #2. However, if you don't have the skill level or don't care to work on vehicles then go option #1.

HPLouis

Thanks for the advice. I think I'm gonna go for it. I'm not that adept at wrenching with cars. I can do oil changes and brakes but that's about it.

FaintReality

I got an extended warranty for piece of mind as things can be expensive when repairs need done. After lots of research, I went with the Route 66 easy street (exclusion policy so everything is covered except what they physically have listed as not covered). Cost me $2310 through Golden 1 credit union and is good for 5 years and/or 100k miles, whichever comes first.

Good luck

tonyb635

Thats tough to decide. Most likely if you get it you won't need it, but if you don't you will.