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View Full Version : Who has bought the extended warranty?


joeyg
02-04-2009, 08:53 PM
Who has bought the extended warranty and what are they costing for the 135i? I am considering an extended warranty in the range of 6-7 years and 120,000 kms.

I am dealing with Budds Hamilton and they use a company called Coverage One.

They sent me some quotes on the Ultimate Warranty which is a full bumper to bumper version. How do these prices compare with what others in Ontario are paying?

These prices are for buying the warranty when the car is brand new. If I wait until the regular warranty expires in 4 years they said it would be much more expensive. I haven't heard yet how much more expensive.

Coverage Onne Ultimate New Car Warranty - www.coverageone.ca

$200 Deductible
72/120,000 - $1,995
84/120,000 - $2,395

$100 Deductible
72/120,000 - $2,195
84/120,000 - $2,795

$200 Deductible
72/140,000 - $2,195
84/140,000 - $2,695

$100 Deductible
72/140,000 - $2,495
84/140,000 - $3,195

$200 Deductible
72/160,000 - $2,395
84/160,000 - $3,095

$100 Deductible
72,160,000 - $2,695
84/160,000 - $3,595



Thanks

Joe

damameke
02-04-2009, 09:41 PM
You will get different take on extended warranty, for peace of mind and
if you think it will be better off for YOU in the long run.. buy it..

Personally, I have never bought extended warranty, so far nothing has broke(touch wood) .. just regular maintenance...

For $1995 for an extra 2 yrs and 40000 km, its not as bad, a grand a year..Warranty is just like insurance... nothing happen .. no claim.....

Decision is yours to make.....

slemmer
02-04-2009, 11:48 PM
I bought a 2-yr extended warranty from Coverage One for my 99 e36 vert that has 56K on it. Needed the piece of mind in case something goes wrong. Now that I think of it, i should have kept the money in my pocket for future mods instead since these babies are rock solid. If I sell my vert this year at least it'll have a transferable bumper to bumper warranty and may make selling it easier since the car is 10 yrs old.

Qube
02-05-2009, 12:29 AM
Thing is you don't know what will break on a new car. I started a thread:
http://www.1addicts.com/forums/showthread.php?t=227870

When I got the E39 used, I bought the warranty because I knew I'd have to use it... and I got more than my money's worth. Still have it for another 9 months. I expect to replace struts before it's done.

Wannabe
02-05-2009, 02:39 AM
isnt extended warranty normally covered by the factory on new cars?

damameke
02-05-2009, 07:40 AM
New car comes with standard warranty.. between 3 years 60000 km to 5 years 100000km(depending on the brand).. extended .. there is always a cost to it.

CPO bmw has those cost built into the price.

Again, like you stated earlier, you plan on keeping it for 6 to 7 years, then
buy it for peace of mind, another option is to put that $1995 in a TFSA (tax free savings account) maintenance account and throw in addtional $50 a month, if you need it.. its there else you will be a rich man by year 7... :)

.

dtthiaga
02-05-2009, 09:52 AM
TFSA is a really good advice. It's always better to create you own warranty/insurance if you feel comfortable.

CPO for my E36 saved my ass though. With the following issues I had, i'm so glad I had it: AC Compressor failure, Front End Failure, Starting Issues, Complete top end failure. I had the car towed 4 times in 10 months.

Issues with CPO Warranty

CPO is not like the “bumper to bumper” new car warranty, so be careful.
With a bumper to bumper new car warranty, full diagnostics is free, and there is no deductible.

With CPO, I paid about $900-$1000 in diagnostics work before they found the problem. All the repairs done were not really close to the actual problem. The dealer was confused about the issues, and I paid the price.

This is the issue with the CPO (Major Component and Accessories) Warranty.
You pay for all the work until they find the issue and you hope it's covered.
This is the reason I decided to get rid of my E36.

T.Dot_E30
02-05-2009, 10:40 AM
CPO for my E36 saved my ass though. With the following issues I had, i'm so glad I had it: AC Compressor failure, Front End Failure, Starting Issues, Complete top end failure. I had the car towed 4 times in 10 months.

You seem to have a bad history with bmws, no wonder you always mention it.

+1 on the TFSA idea, should cover your repairs, i hate all warranties, they screw around with you making you make all these BS fees (diagnostics, deductables, etc)

damameke
02-05-2009, 02:00 PM
The last vehicle I bought new was a fully loaded 1997 Sport Caravan with no extended warranty; after I bought it, my friends were telling me I should have bought the extended because the caravan has alot of transmission issue...know what...

I used it for a few years with normal maintenance and when I bought my first used BMW 325 xi 5 years ago, I sold the van to my friend and he is still driving it.

When I bought the 325, it has about 8 months left on the warranty and I have the car for more than 5 years now and during that time, I had a moulding and a thermostat replaced, besides that , replaced 4 tires and brakes. it has 65,000 km now

Regular oil change, type I n II inspection done at its intervals...

One takes a chance when you buy a pre-own vehicle, some are more blessed than others and always buy from a place that you feel comfortable with.

Do your due diligence, especially get it inspected even tho your test drive find that the car is purring well.

and I agree with Dtthiaga... CPO is not bumper to bumper even Acura's CPO is not bumper to bumper..

Read the fine print.

Spoose
02-05-2009, 02:48 PM
i would not get an extended warranty on a new car already. you have existing manufacturers warranty to take care of the problems, and if the car has repeat problems and keeps going into the shop, do you really want to keep that car after the warranty expires. i remember when the e60 7 series came out, tonnes of problems, no one kept them so BMW offered a free CPO warranty for the 2002/2003 model year.

I think after some seat time in the car, if there are constant problems, you won't keep anyways so why pay for the extended warranty. bank the money, collect the interest and use when needed.

dtthiaga
02-05-2009, 03:59 PM
You seem to have a bad history with bmws, no wonder you always mention it.

+1 on the TFSA idea, should cover your repairs, i hate all warranties, they screw around with you making you make all these BS fees (diagnostics, deductables, etc)

Well, not really. Several of my neighbors and family members have bought brand new BMW's as well, and in the first 4 years, went through a lot of warranty issues (more so than our Honda/Acura/Toyota/Lexus).

I love driving my car though; love the dynamics and feel of the vehicle but am not brainwashed by them.
I give credit where credit is due, and am open to what other manufactures have to offer.

A lot people can't say that......... Statements such as Jap Crap... Rice..... It's just an Acura.... American POS....... :huh?: *sad*

If you bought my E46 now, you'd say it is very reliable.
I fixed all the expensive common issues; issues I wouldn’t expect in a car designed well and driven carefully.
I took quite a bit of effort on my part, time which I don’t have. This is why I buy new cars.

Back on topic, Warranty is good, but here are some facts.

I know a founder of one of the Ontario warranty programs. For every $10 they get in, they only spend $2-$3 in warranty claims.
That says a lot.

If you can get warranty that covers an extra 2 years or 40K (Major Component) for around $1000, I would by it.
At $2000-$3000, I might start considering doing something myself.

joeyg
02-05-2009, 06:19 PM
Thanks for the replies guys. I'm thinking if I go ahead with the extended warranty, I'll wait until near the end of the 4 year warranty to see how the car is shaping up.

One of the guys on 1Addicts told me that he got a lower quote for the extended warranty closer to the end of the standard 4 year warranty period because he had lower kms. I'll probably be in the same boat with lower kms.

Joe

damameke
02-05-2009, 06:44 PM
Joeyg..

Be aware that the dealer might charge you around $300 plus to check the car before giving you an extended warranty, ask the dealer that question and put it in writing in your original bill of sale..that you pay nothing

When I wanted extended warranty for my Z3 after the standard warranty expired, the BMW dealer downtown quoted me that amount, after that the extended warranty is almost $3000.

and you think I bought it........