Extended maintenance plan cost?

[cruisingdownthestreet]

I'm considering extending my maintenance warranty. i was quoted ~$900 for 1 year and ~$1750 for 2 more years, pushing back 2 more years of CPO.

any one extend their maintenance warranty? if so, how much did you pay?

[Maynard]

Is that the official version through BMW? And if it is the one that comes in different levels, which level were you quoted for? I vaguely recall some of this from original signing, figured I'd wait and consider it later.

[wdb]

If I spent $900/year for maintenance I'd be trading the thing in. Unless it's built in Maranello maybe.

[Nerdking]

Originally Posted by wdb

If I spent $900/year for maintenance I'd be trading the thing in. Unless it's built in Maranello maybe.

They say to put away 100 bucks a month for BMW maintenance. So about 1200 a year to keep it running after warranty. Very expensive cars.

[kprocivic]

Originally Posted by wdb

If I spent $900/year for maintenance I'd be trading the thing in. Unless it's built in Maranello maybe.

Get ready to trade.

[jpnh]

Originally Posted by Maynard

Is that the official version through BMW? And if it is the one that comes in different levels, which level were you quoted for? I vaguely recall some of this from original signing, figured I'd wait and consider it later.

There's warranty and then there's maint and they are separate

The warranty is broken into different levels like Platinum, Gold and 2 lesser levels and can be tailored to be time and mileage based on top of the different levels

So.....like a Platinum 6 year/80k or 7 year/100 k etc etc etc

They aint cheap......

iirc I was quoted ~4k for a 7yr 100k warranty at the platinum level

You dont have to decide until the end of 4yr/50k warranty and I would encourage folks to shop around.......

[Fast4d]

is this warranty or is it maintenance

[BeEmVe]

The other the question, how many miles are you putting on per year? The more the miles the more it may be worth while.

[cruisingdownthestreet]

whoa, no one answers for 10 days and now there's a bunch of replies.

the maintenance offer is directly from BMW dealership but not from the one i bought it from. he didn't mention any gold or silver or platinum packages just numbers and dollars. i said i'll do some research and left it at that.

[wdb]

Originally Posted by kprocivic

Get ready to trade.

Or drive it just a few miles per year, which is what I do. I long ago figured out that I do not have the mindset or patience to daily drive a BMW. Or any of several other makes as far as that goes. I want my daily car to "just work" and I'm comfortable with the compromises that entails.

[Gamb1t]

Make sure you read the coverage details. Extended warranty is just warranty. No maintenance. Therefore you better keep on top of the maintenance.... at your own expense and preferably at your authorized BMW shop.

[3GFX]

Speaking as a former financial service manager with a luxury brand...

--Extended Warranty--

Generally $1000 - 7000 depending on length of time purchased along with the cost of the vehicle associated. Generally worth the price of entry as its a hassle free way of making sure the majority of your car is covered. Only the best packages make sure your covered so read the details of coverage and compare vs cost. Regular wear and tear items like brakes and suspension are usually not covered. Sometimes you can get navigation upgrades thrown in ($500 value usually). Some policies offer the ability to transfer ownership upon private sale. This can also be worth it if your passing it to family in the future or selling it privately (add's value). I believe in it, seen the piece of mind and satisfaction from those that have made claims. It's a one stop shop solution to bring your car in to get broken items fixed outside of standard warranty.

--Maintenance Package--

Covers maintenance over a period of time selected. Usually, oil and air filters. There isn't much mark-up generally in this product ($100 - 200) as the dealer/company get the guarantee that your servicing your car for sure at there dealer or brand so they're just happy you're spending money there. Worth it, unless you are the person that seeks out 3rd party shops (which are overall cheaper).



Key thing to keep in mind...

Both packages have room for negotiation especially if you buy both. The warranty package can have anywhere from $500 - $1800 worth of room to negotiate. Drive a hard line, and let them know you'll take it but only for a screaming deal. In most cases it is more important for them to hit sale numbers overall rather than the lump sum commission on just one product. Multiple products with a lot of discretion can still equal the same amount. Look at whats on offer, and build your value. The price you think it should cost, is probably what it does cost the dealership.

[3GFX]

Originally Posted by JasmineJas

What dealers don't tell u, is that most times, they make more profit off the warranty than they make of the sale off the car. Pretty much all the products offered in the dealership finance office, is more advantageous to the dealer than the customer. If one is a disciplined driver, most times u are better off financially, if you say no to the extended warranty, keep your payments low, and save your money. Don't even get me started on those paint and leather protection tricks

+1

The problem is most people don't develop a savings plan for major maintenance. So in this regard a package could be worth it for them as long as it's a reasonable price. Especially if it's integrated into their payment. Mental budgeting is the key factor to these decisions. If you can't save, then make it part of what your payment is.

You are correct that in most cases it is to benefit the dealer to make a sale. We would be kidding ourselves if we thought that a product they sell is not with the intended benefit of profit.

But as with many things, there is room for negotiation.

Tint only costs a dealer 150 - 300$ but they may sell for $600. Their wax sealant may only cost $150 after product and labour, but they charge over $500. Loop in maintenance and warranty and the dealer is now added over $5000 to your bottom line, and there's a healthy profit of about $2000 - $3000 in there.

Going in knowing that, you negotiate down their bottom line and profit. They will still be happy with an extra $500 on the deal over $2000; it's all better than $0 for the dealer!

Another thing to keep in mind is that the perceived value is different for every brand. 3M clear bra at Ford $500 - 600 versus over $1,000 for the same product at Ferrari. But no surprise there.

You see this Ferrari badged wizard sleeve....

[David70]

Long term, on average, you won't come out ahead with extended warranties. Companies pay the dealership, the salesperson, literature, other overhead, then the claims and still make a good profit. Then oftentimes when you have a claim they do their best to get out of paying it.

You can find people that came out ahead with them but if most people did the companies wouldn't be in business.

[Bluewater328iT]

The worst thing about warranties is you cannot do proactive maintenance or upgrading parts of the car as they wear out, which is the key to enjoying the car. So, if the water pump goes, that is probably covered. But if you want to proactively replace other parts of the cooling system like thermostat, hoses, or expansion tank because they are aging as well, that's not covered by the warranty. You have to wait until something breaks, possibly at an inconvenient time.

[firedown31]

Originally Posted by cruisingdownthestreet

I'm considering extending my maintenance warranty. i was quoted ~$900 for 1 year and ~$1750 for 2 more years, pushing back 2 more years of CPO.

any one extend their maintenance warranty? if so, how much did you pay?

There is no way you will spend $900 a year in maintenance unless a brake job is involved. You're looking at an oil change, maybe new wipers, maybe a brake fluid flush. Definitely not worth it.

[Overlord73]

So really to get back to the original question which is on Maintenance not warranty I would recommend that you pass and find an independent bmw specialist to take your car to. In general if you find a good one they will be cheaper than the dealer and many times don't care if you bring in the parts etc. The good shops are usually run by or employ ex-bmw certified techs.

As for Warranty I would actually suggest people look into insuring with Geico has a program called Mechanical Breakdown coverage. It will basically provide coverage up to 7 years and 100k on all major components. You have to start paying it when you first get the car but i did some calcs and in the long run its a lot cheaper than buying a $7k gold plan from bmw. That being said if ur not sure that ur going to keep the car for that duration it may not be the best option for u as it isnt transferable etc. just my 2 cents.

[cruisingdownthestreet]

does anyone know what CPO covers where i don't have to shell out any money? sorry for coming off looking like an idiot. it's my first CPO car. the dealer gave me this sheet of what BMW CPO doesn't cover and it's 3 columns on 1 side of a sheet of paper full of "things that are not covered"