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Should I get an extended warranty?

Old 11-19-2013, 06:50 AM
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Default Should I get an extended warranty?

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.

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?
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Old 11-19-2013, 06:58 AM
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I am in a similar situation. I just bought a 2008 535xi wagon with 52K on it. The car is in good shape now but I'm worried about a turbo car long term having costly issues down the road.

Is the CarChex warranty the extended BMW warranty?
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Old 11-19-2013, 07:42 AM
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Oh man, I'm sorry, I just realized that I put this in the wrong section.

Carchex isn't the BMW warranty. CarChex is a broker who sells warranties. the BMW warranty is BMW.

Henry
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Old 12-02-2013, 02:36 PM
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Just got an 09 550i Tricked by BMW. Went to Dealership today. My Valve Gasket was leaking or maybe Head Gasket? Caused a foul order and was smoking. Saw first hand it was leaking on to Exhaust when I put on jack. Thats why i drove the 1.5 hrs to dealership exactly one week later, I explained to Service man Lewis at Princeton BMW. Since CPO is good to 2-15; Lewis said dont worry about it! We will do a complete upper rebuild. Re do Heads, all gaskets, any water line or gaskets and anything else we see will be redone. The N62 Motor has 53 k. He said its a 6k deal. You pay 50.00. I too am looking a an after market. Got the In-Tyre for 166 wheels and the LoJack Theft protection when purchased. I know the 545 and maybe some of the 550s have valve Cover gasket problems so I believe Service man Lewis probably felt it was best to redo do entire top side maybe to keep even Oil pressure which I think could help with the Valve Cover Gaskets and other Gasket Parts. Dan
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Old 12-02-2013, 02:39 PM
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Yeah I put this in the Big Boy F10 Forum too!
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Old 12-31-2013, 02:10 PM
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I all depends on your plans, perspective and schedule as how long you are planning to hold on to your beloved machine and is it something you love or is it just a transportation ?....There is no other way than to get an extended warrenty if you are keeping your beloved machine. There is possibly no other way to think in my opinion.
In fact I was in the similar thinking recently and I just got an extended warrent on my 08: M5 yesterday from a local BMW dealership in Baltimore . My M came originally CPO with 6 year warrently and as I don't drive her extensively so now my M has 62,000 miles on it and it just ran out of its CPO a week ago. I plan to keep M for a while so I got an absolutely terrific price on a 5 year 60,000 miles warrent with no deductable. This way if I even choose to sell my M in a year or so, it makes the sale extremely attractive- as these M machines or in fact any BMW machines are extremely $$$ hungry to maintain when getting older.
I know that now I will sleep better
so it is finally your call as what your plans are and then go from there.......
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Old 05-01-2014, 03:53 PM
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I have been told by many to never own a BMW outside of a warranty. A BMW technician from Macon, GA was the one to offer that advise (now working at Bavarian Autosport). I have owned 4 BMWs - the last two being leased. Not sure if I'll outright own one again... used as company cars I kept strict records of their repairs. My 330 had $3,000 in work in it the final year I had it... that's 9 months of a lease (or more or less).
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