Quote:
Originally Posted by wahoorad
Turtleboy, you've been super helpful. One last question. I appreciate that you like to buy new, and honestly I am the same way and have always purchased new and gotten very competitive financing (no more than 1.9%) but the near new (<1500 miles) of this particular vehicle is compelling. That being said I will try and shop around for a less equipped new.
My question for you has to deal with extended warranties. I have typically bought historically more reliable Japanese cars. My brother has had Mercedes and paid out the nose in repair costs. The CPO I could buy costs 1550 and would give me one more year of warranty and unlimited miles (up to 5 years), so maybe more peace of mind than value. Since you buy new do you ever buy an extended warranty given BMW's historically high maintenance costs?
thanks!
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No, I have never bought one and likely never will. Odds are any single vehicle would not need enough repairs to have paid for the extended warranty, hence why they sell it at the price that they do. (Obviously there is mark-up to consider so this is just a simplification) I choose to play the odds and save the money that I would have paid for the extended warranty and if I have to pay for repairs I will.
I do have to say that currently I'm leasing so extended warranty wasn't a question. However I'm in the process of buying an M340i and will be buying an M50i when my lease runs out at the beginning of next year, I won't be buying an extended warranty with either.
Another way to play it is to wait until your factory warranty is just about out and then consider an extended warranty. If your vehicle has been trouble free then it will likely continue to be that way. On the other hand, if it was constantly being taken in for warranty work it may be worth purchasing an extended warranty.
Edit: I should also say this is my first BMW, in the past I also had very reliable Japanese vehicles.