Extended Warranty Worthwhile?

[doug47]

Just bought a new-to-us 2006 Z4 M Roadster. We have the option to purchase an extended warranty through the credit union as part of the financing. Is this a good idea? The car is just out of warranty. Some of the stories about engines blowing up, etc. are a little scary, so wondering if we should spring for the coverage.

Thanks.

[Endless619]

Originally Posted by doug47

Just bought a new-to-us 2006 Z4 M Roadster. We have the option to purchase an extended warranty through the credit union as part of the financing. Is this a good idea? The car is just out of warranty. Some of the stories about engines blowing up, etc. are a little scary, so wondering if we should spring for the coverage.

Thanks.

It is a piece of mind but I would also include the extended maintenance package as well. Covers all your inspections and oil changes. However, if you are a mechanic then most of this you can inspect or replace yourself.

My car is still under warranty and I opted for the EMP. It cost me $2300 extra.

[lstratos]

Originally Posted by doug47

Just bought a new-to-us 2006 Z4 M Roadster. We have the option to purchase an extended warranty through the credit union as part of the financing. Is this a good idea? The car is just out of warranty. Some of the stories about engines blowing up, etc. are a little scary, so wondering if we should spring for the coverage.

Thanks.

usually third party warranty are not as good.. they make you jump through hoops before any repair... do you know who underwrites the warranty ?

I know people that bought used cars and had hard time getting transmission and misc parts replaced, ie you have to prove that its broken, they need to have it taken out for the warranty inspector and wait for the guy to show up... its like a huge waste of time just to get things covered. But not all warranty program are the same so google around for the name and see what experience people had with it

[3002 tii]

Originally Posted by lstratos

usually third party warranty are not as good.. they make you jump through hoops before any repair... do you know who underwrites the warranty ?

I know people that bought used cars and had hard time getting transmission and misc parts replaced, ie you have to prove that its broken, they need to have it taken out for the warranty inspector and wait for the guy to show up... its like a huge waste of time just to get things covered. But not all warranty program are the same so google around for the name and see what experience people had with it

^^ what he said, do NOT go with a 3rd party warranty.

1. it's never entirely clear as to what is covered
2. certain jobs may be covered but are capped at a $ limit, and any significant work done on these cars will always be on the high end of estimates
3. most likely you will have to pay out of pocket, and then most submit a claim


if i were to go with an extended warranty, i'd go with the bmw one. not sure if a deductible is involved, but regardless you don't have to file any stupid claim because the dealer will obviously accept the warranty.

[bhoch]

Originally Posted by EndlessZ4M

It is a piece of mind but I would also include the extended maintenance package as well. Covers all your inspections and oil changes. However, if you are a mechanic then most of this you can inspect or replace yourself.

My car is still under warranty and I opted for the EMP. It cost me $2300 extra.

When I bought my '07, I got the extended maintenance plan. A little pricey, but it's nice to just drive in/ drive out when it's maintenance/inspection time for a few years.

[tekmoe]

I'm having the same dilemma regarding whether or not I want to purchase an extended warranty thru BMW. Either the 7yr/70k Power+ or Gold.

[Pheonix]

I only put about 10k-12k a year so it was not worth it for me to get either the extended warranty and service plan. I put some of the money aside just case (and the rest on mods). I guess it depends on how many miles on the car and how many miles you drive per year. Also, how long you are planning on keep the car.

[Hawkeye]

I thought no initially but I am at 50,500 miles and my Check Engine light just came on Now I have an appointment on Tuesday and I am just dreading the worst. If I had the extended plan I wouldn't be worrying at all.

Here is to hoping it is just a tripped sensor! Thankfully I was about to winterize and store my Z for the year anyway.

[Rick Hunter]

Get a code reader, Hawkeye!

[PatJags156]

So I am thinking the Extended Maintenance may be worth the $2100 for up to 100k miles. I am at 42k miles.This would include:
-3 Oil Changes $300
-3 Air Filters - $120
-Spark Plugs - $360
-Brakes/Rotors/Pads - $500-$700
-Wipers- $20
-Inspection II- $725
-Trans Service- $310
TOTAL= $2435

Does not include- Alignments

This extension is for piece of mind too, that you can not put a price on..or can you..

[Pheonix]

Originally Posted by PatJags156

So I am thinking the Extended Maintenance may be worth the $2100 for up to 100k miles. I am at 42k miles.This would include:
-3 Oil Changes $300
-3 Air Filters - $120
-Spark Plugs - $360
-Brakes/Rotors/Pads - $500-$700
-Wipers- $20
-Inspection II- $725
-Trans Service- $310
TOTAL= $2435

Does not include- Alignments

This extension is for piece of mind too, that you can not put a price on..or can you..

Make sure you read the terms (especially the small prints). Here is the quote from BMW Brochure: "**For example if the new vehicle sales date was 6/12/2008 and you purchase a 6-year/100,000 miles term, your coverage under this program will expire on 6/11/2014 or when the reading on your vehicle’s odometer reaches 100,000 regardless of the contract purchase date or mileage at the contract purchase date".
In short, most of us won't put that many miles to use the services (and get a good returns for our investment).

[tekmoe]

Originally Posted by PatJags156

So I am thinking the Extended Maintenance may be worth the $2100 for up to 100k miles. I am at 42k miles.This would include:
-3 Oil Changes $300
-3 Air Filters - $120
-Spark Plugs - $360
-Brakes/Rotors/Pads - $500-$700
-Wipers- $20
-Inspection II- $725
-Trans Service- $310
TOTAL= $2435

Does not include- Alignments

This extension is for piece of mind too, that you can not put a price on..or can you..

I'm no mechanic but most of that stuff is pretty basic maintenance. IMO, it's not worth it unless you are a purse-carrying Nancy who doesn't like to get her hands dirty. Definitely not worth the price they are asking.

[lstratos]

I'm with Tekmoe...
Filters are like 18-20 a piece.. I can change it 6 times for 120!

Granted brakes and rotors takes a bit longer.. if I get lazy Ill let them do it.. since 99, I been doing my own brakes.

Assuming trans service is just drain and fill.. it is sooo easy... even my acura is harder

[Swashplate]

Originally Posted by tekmoe

I'm no mechanic but most of that stuff is pretty basic maintenance. IMO, it's not worth it unless you are a purse-carrying Nancy who doesn't like to get her hands dirty. Definitely not worth the price they are asking.

LOL Oh I plan to incorporate that into my vocab tomorrow. It's almost as good as "Shut your Man Pleaser"...sorry off topic.

I did buy the Hendrick extended warranty opposed to the maint plan as I wont put enough miles on it to justify it. I think these aftermarket warranties are scams but this one seemed pretty good.