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      01-08-2020, 08:42 PM   #1
RVAGuy
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In a month we will be taking possession of a X5/M50i ordered late last month. It will be a cash sale with nominal financing (to earn discount). We typically hold vehicles 5 years and only drive 5K miles annually. We have all maintenance performed by the dealer when due.

I would appreciate suggestions/comments on various packages I should and should not consider purchasing when we pick up the vehicle: wheels; prepaid maintenance; extended warranty, etc. Thank you.
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      01-08-2020, 08:56 PM   #2
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Without looking into your pockets too deeply, if you're pretty much buying a 82k+ car cash, you obviously have the means to cover the cost of any unexpected repairs. For you the risk/reward of buying any of the plans/coverage/warranties is probably not there.
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      01-08-2020, 09:48 PM   #3
karateboi87
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Quote:
Originally Posted by VTENGR View Post
Without looking into your pockets too deeply, if you're pretty much buying a 82k+ car cash, you obviously have the means to cover the cost of any unexpected repairs. For you the risk/reward of buying any of the plans/coverage/warranties is probably not there.
Agreed. Also OP is only driving 5K a year, which means you're not even gonna get your money's worth (let alone save money) with maintenance items.

The only warranty I think that might be worth it is tire/wheel warranty if you or other drivers of the car tend to damage the wheel/tire easily. I had a friend that went through 3 different tires due to nail in 2 years and easily got his money back from the warranty. But even that requires you to negotiate to make it a worthwhile deal.
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      01-08-2020, 10:01 PM   #4
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Originally Posted by VTENGR View Post
Without looking into your pockets too deeply, if you're pretty much buying a 82k+ car cash, you obviously have the means to cover the cost of any unexpected repairs. For you the risk/reward of buying any of the plans/coverage/warranties is probably not there.
I imagine anyone that can finance a $82K vehicle can cover unexpected repairs.
Would you consider any of the coverages to be a good “investment”: coverage cost vs likelihood of needing the service or do you consider “self-insuring” a better alternative?
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      01-08-2020, 10:14 PM   #5
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Originally Posted by karateboi87 View Post
Agreed. Also OP is only driving 5K a year, which means you're not even gonna get your money's worth (let alone save money) with maintenance items.

The only warranty I think that might be worth it is tire/wheel warranty if you or other drivers of the car tend to damage the wheel/tire easily. I had a friend that went through 3 different tires due to nail in 2 years and easily got his money back from the warranty. But even that requires you to negotiate to make it a worthwhile deal.
In the last five years we did have to replace one tire (on two cars) due to a nail puncture. Bigger issue is scrapes on wheels which is cosmetic and I tend to ignore as with hood damage from rocks or door dings from parking lots. What is a reasonable expected cost for the wheel/tire coverage?
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      01-08-2020, 10:58 PM   #6
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Originally Posted by Fdmcg View Post
In the last five years we did have to replace one tire (on two cars) due to a nail puncture. Bigger issue is scrapes on wheels which is cosmetic and I tend to ignore as with hood damage from rocks or door dings from parking lots. What is a reasonable expected cost for the wheel/tire coverage?
I think totally depends on the wheel/tire option. I personally haven't bought it so I don't want to steer you the wrong way. See if others have experience or maybe just call up different dealers and ask. All warranties are negotiable from what I have gathered, some very significantly.
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      01-09-2020, 09:24 AM   #7
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Originally Posted by Fdmcg View Post
I imagine anyone that can finance a $82K vehicle can cover unexpected repairs.
Would you consider any of the coverages to be a good “investment”: coverage cost vs likelihood of needing the service or do you consider “self-insuring” a better alternative?
The way I've always looked at these are that the dealership is not out to do you any favors. They sell you these plans in hopes you never have to use them. These are pure profit centers for them. They have done the research to know what the price point should be, etc. They know the likelihood of you needing the plan is low. Just making up numbers here to show the point, but for every 1 person who actually gains value and utilizes the plan to their advantage there's probably 5 or so who do not.

For the wheel and tire coverage - you can buy tire coverage at your local tire shop for pretty cheap - probably adds $100-200 to the cost of the tire swap. For the rim coverage - if it's scraps and curb rash, local rim shops and mobile shops will charge less than $200 to fix these types of damage. If you destroy the rim, you're out a lot of money. I've been driving for over 20 years and have never destroyed a rim. So I'll roll the dice on that one. The rest of the damages I'll just absorb and pay out of pocket.

I think I saw that people were getting the rim and tire package for the 22" rims at around $2,000 for 4 years. Based on my numbers above if you buy a tire coverage plan for $200 that should cover your in case you have a blow out. That then leaves the remainder for rim repair. I only bother to fix the rims quarterly because I know they'll get scraped up again. With all that - It would be unlikely that I would get a return on my rim/tire package from BMW. My local rim guy, who's a mobile rim refinishes, charges $75 per rim for Alloy rims - Does a great job - definitely passes the 3 foot test.

For your case, specifically, since you don't drive much - your risk is even lower.
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