BMW Coverage One Extended Warranty ULTIMATE Coverage - NEW vs USED Policy's

[razor_ro]

Hi guys,
I have a 2009 BMW 335i xDrive Coupe with approx. 70,000kms. My warranty expires in 10,000kms (or October 2012). I am looking into purchasing the BMW Extended Warranty ULTIMATE Coverage (which is really third party by Coverage One) but I have been getting multiple prices from different dealers.

Apparently there is a NEW and USED car policy. The dealer said the two policies are identical in terms of coverage and the difference in price between the 2 is about $200. The USED policy is less of course, but if I purchase it now, the km’s get added on to my current mileage (~70,000kms), where if I purchase the NEW policy, the km’s get added on to the end of my current warranty (80,000km’s).

I was advised by the business manager from one of the dealers to wait until my current mileage almost reaches 80,000km’s and purchase the USED policy.

I just think it all sounds fishy.

Hopefully someone can shed some light on this extended warranty, my mileage is approximated to reach 80,000kms in about 1.5 - 2 months (I drive on the highway a lot), and I plan on keeping the car for at least 2-3 years, maybe trade it in later on or possibly keep it indefinitely.

Also, if you have some info/experience on Coverage One, please do tell.

NEW policy details:
$4900 taxes included
$50 deductible (waived if purchased and taken to the dealer the warranty was purchased)
3 additional years and extra 80,000kms added on to 80,000kms (which would be October 2015 and 160,000kms)

USED policy details:
$4770 taxes included
$50 deductible (waived if purchased and taken to the dealer the warranty was purchased)
4 additional years and extra 80,000kms to current mileage (if purchased now which would be February 2015 and 150,000kms)

Thanks,

Rolando

[slemmer]

I had that coverage when I bought my '99 e36. Good for two years but never put in a single claim. If you want piece of mind like I did since I don't know what could happen to a ten year old car then go for it. If your car has been reliable all along and you checked around to see what common things may go wrong and it's cost to fix then it may be in your best interest to keep your hard earned $ in your pocket.

[blupilot001]

It is NOT fishy.. The business manager is indeed correct. Somehow, Coverage One made these 2 coverages very illogical in comparsion (the used one is by far the better of the two since you get 1 more year of coverage). Given these choices, I would wait until the last moment (ie. when your car reaches just about 80,000 km) before signing the papers. And yes, I bought the Used Policy for mine.

[razor_ro]

so far i got quoted for $4300 taxes included for the ultimate 4yr/80,000km ... i'm at almost $78,000km on my 2009 335i xDrive Coupe....

i am debating if i should sell the car (and buy a new one???) or buy the extended warranty... the problem is i put on about 800-1000km per week! yup thats right

any suggestions? plus the price of the warranty... is it good?

[damameke]

tough call..

I would ask myself.. what is the most expensive repair for the car..(wastegate/turbo unit) besides the regular maintenance... the HPFP warranty is extended to 10 years, isnt it? so that cost is covered.

so would I sleep better if i put that $4500 in a repair account?

[circus_boi]

Hi there. Sorry to hi-jack (sort of) the thread but I am in a similar bind. My 2007 335i has come off the original 4-year warranty/free-maintenance. As I only have 30K on the car (after 4 years) and not necessarily intending to keep for many more years, I asked for the shortest term possible, which is a 2-year term. I was given the following quotes for an Extended Warranty called "CoverageOne Ultimate" in the $2K range (with $100/$200 deductible).

I have a few questions, if I may. Firstly, are these quotes the same across dealerships? For those who have bought this coverage before, do you find that dealers try to find exclusions on the coverage so you end up paying for the repairs anyway/

On a related note, does anyone know if BMW Canada offers an extension to the no-free maintenance coverage? In effect, can I prepay a set fee and get 'free' maintenance for the term of the coverage? The dealer told me 'no', though I see that this is offered in the US, possibly?

Am faced with the prospect of having to pay for BOTH regular maintenance AND repairs for the 1st time in four years, so am a bit nervous and would appreciate any help/feedback! Many thanks in advance!

[razor_ro]

just an update, i ended up buying the extended warranty for ~$4170 for the ultimate 4yr/80,000km additional and $50 deductible.

my warranty now expires on May 9, 2015 or 159,987km, whichever comes first.

hopefully i dont need to use it, but atleast i can now sleep good