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      05-31-2021, 03:44 PM   #1
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Extended Warranty Question for X5 Long-Term Owners

While waiting for my X5 45e to be delivered, I am considering buying an extended warranty right away as I understand that doing that later would be more expensive. I am buying the X5 and plan on holding on to it for 7+ years.

I have read several helpful threads on the forum regarding the extended warranty and thanks to forum recommendations I have been in touch with excellent Christine at Steve Thomas BMW who has been wonderful helping me out and providing tons of helpful information about it, so big shoutout for Christine!

Now for my question: BMW offers two main plans, a platinum plan and a gold plan - the gold plan covers all that the platinum plan does except (i) comfort access/power door lock actuators, (ii) power mirror motors, (iii) head lamps, (iv) cup holders (!) and (v) infotainment system. The cost of the gold plan is approximately 12.5% less than the platinum plan.

I am debating which plan to go with and was wondering which option long-term owners here have chosen: any advice/opinion would be very welcome, considering that they are not inexpensive propositions!

Thank you
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      05-31-2021, 03:57 PM   #2
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the infotainment system is essentially iDrive. I would hate to incur the cost of that replacement!
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      05-31-2021, 04:12 PM   #3
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Great idea! I may look into this myself - nothing was mentioned when I got my car (UK).
I have 1 year left on my warranty at the moment - I may enquire next month while at my first oil service, as Im looking to hold onto the car for 7+ years aslo.......
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      06-01-2021, 09:32 AM   #4
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If you have Geico insurance you might want to check out their Mechanical Breakdown Insurance. You have to purchase it within 15 months of purchase. My premium is $105 every 6 months. Coverage is good and you can continue it for 7 years or 100,000 miles. There is a $250 deductible.
https://www.geico.com/auto-insurance...own-insurance/
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      06-01-2021, 10:25 AM   #5
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Doesn't cost more to add it later. The most expensive place you can buy it is at the dealer during delivery, full retail. Buy it from another dealer online discounted. You have until the day before the original warranty expires.

Personally, I think they are a huge ripoff, even discounted, as they prey upon fear. I've passed on them on every car I've owned, 26 cars so far I could have bought them for, maybe $40K I've saved. Another $20K by avoiding the even worse wheel and tire insurance. I've spent less than $5K on repairs (but I do most myself, so just parts and a few wheel repairs). If my iDrive fried today and it cost $5K to replace, so what?

Peace of mind is very, very costly.
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      06-01-2021, 10:39 AM   #6
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Quote:
Originally Posted by todd92 View Post
Another $20K by avoiding the even worse wheel and tire insurance. I've spent less than $5K on repairs (but I do most myself, so just parts and a few wheel repairs). If my iDrive fried today and it cost $5K to replace, so what?

Peace of mind is very, very costly.
lol so true!

though the last 5 years I had the wheel and tire warranty on my Audi which more than paid for itself with the amount of tire replacements and alignments i got! so in hindsight for me, it was worth it hehe
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      06-01-2021, 12:30 PM   #7
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The 45e is the first BMW I have considered to own long term and seriously thought of the extended warranty. I decided against it since it would only cover up to 7 years and cost about $3500 if I remember correctly. I just hope from the moment the warrant ends to year 7 the repair costs are around $3,500 ��
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      06-01-2021, 04:07 PM   #8
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Quote:
Originally Posted by evodz View Post
The 45e is the first BMW I have considered to own long term and seriously thought of the extended warranty. I decided against it since it would only cover up to 7 years and cost about $3500 if I remember correctly. I just hope from the moment the warrant ends to year 7 the repair costs are around $3,500 ��
I am exactly at the same juncture as you were - and in the meantime the cost of the EW has gone up compared to what you remember, which gives even more reason for wondering whether in the end it is going to be worth it...
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      06-01-2021, 04:28 PM   #9
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You can't evaluate the purchase of these insurance policies on a one off basis. Any one car might require an expensive repair. Over the long haul, many cars will not. The cumulative result is a huge waste of money.
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      06-01-2021, 05:59 PM   #10
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Quote:
Originally Posted by todd92 View Post
Doesn't cost more to add it later. The most expensive place you can buy it is at the dealer during delivery, full retail. Buy it from another dealer online discounted. You have until the day before the original warranty expires.

Personally, I think they are a huge ripoff, even discounted, as they prey upon fear. I've passed on them on every car I've owned, 26 cars so far I could have bought them for, maybe $40K I've saved. Another $20K by avoiding the even worse wheel and tire insurance. I've spent less than $5K on repairs (but I do most myself, so just parts and a few wheel repairs). If my iDrive fried today and it cost $5K to replace, so what?

Peace of mind is very, very costly.
That is very true and I appreciate your viewpoint: I have owned a Toyota for 10 years and never had any issue, it just kept going and going flawlessly, but then again that's a Japanese car and they are well known for their reliability :-)

Anyway, your point is well taken and much appreciated.
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      06-02-2021, 09:00 AM   #11
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Quote:
Originally Posted by Baltifrank View Post
If you have Geico insurance you might want to check out their Mechanical Breakdown Insurance. You have to purchase it within 15 months of purchase. My premium is $105 every 6 months. Coverage is good and you can continue it for 7 years or 100,000 miles. There is a $250 deductible.
https://www.geico.com/auto-insurance...own-insurance/
I'd be interested in hearing more about this coverage. The website is uninformative and, indeed, seems purposefully opaque (shocking I know).

The name of the coverage suggests some rather significant limitations in coverage: "mechanical" (as opposed to electrical) and "breakdown" (suggesting coverage is triggered by a stranded-on-the-side-of-the-road experience). The little video on the website however lists "electrical" as a system covered.

If the iDrive brain dies, or any of the other electronic systems crap out, what is the coverage.

I just went through the painful experience of extracting actual policy language from 3 insurance companies for umbrella and homeowners policies; the companies acted like I was nuts actually wanting to see the policy documents before buying.
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      06-02-2021, 09:38 AM   #12
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Insurance, of any kind, is a bet. It's a bet by the insurance company that you won't collect. Usually they win. Sometimes they don’t. If you think you might be in the latter category because of factors you have evaluated, covering that bet may be worth it - for you, knowing that the house odds are against you. Except of course, with life insurance, where the player always wins against the house. Sort of.

Last edited by Paladin1; 06-02-2021 at 09:44 AM..
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      06-02-2021, 12:29 PM   #13
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There is a thread here in the forum about BMW warranty sale.
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      06-02-2021, 12:31 PM   #14
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https://g05.bimmerpost.com/forums/sh...ended+warranty
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      06-02-2021, 12:45 PM   #15
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Quote:
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There is a thread here in the forum about BMW warranty sale.
Yes, that is what started the discussion, seeking opinions from forum members about whether it would make sense to go with the platinum or the gold package.

The discussion then evolved to address the more fundamental question: regardless of platinum or gold, is it worth buying an EW to begin with (even at the discounted prices that incredibly helpful Christine is in a position to offer)?
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      06-02-2021, 02:23 PM   #16
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Quote:
Originally Posted by Paladin1 View Post
Insurance, of any kind, is a bet. It's a bet by the insurance company that you won't collect. Usually they win. Sometimes they don’t. If you think you might be in the latter category because of factors you have evaluated, covering that bet may be worth it - for you, knowing that the house odds are against you. Except of course, with life insurance, where the player always wins against the house. Sort of.
A bet indeed. If BMW didn’t win more than they lose, they wouldn’t offer these plans at these prices. For my part, I prefer to self-insure. But that is an individual choice.
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      06-02-2021, 06:23 PM   #17
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[QUOTE=I just went through the painful experience of extracting actual policy language from 3 insurance companies for umbrella and homeowners policies; the companies acted like I was nuts actually wanting to see the policy documents before buying.[/QUOTE]

I was a Parts and Service manager in a very large dealership (not BMW) for 30 years and I lived and breathed warranties and service contracts. What caught my attention is the way it is worded. Lots of these have a big list of covered parts but the lists are not all inclusive.

Geico says on their website: " GEICO's MBI coverage: "Includes all parts and systems not just the specific list of items covered by most dealer warranties." So you know what it won't cover and everything else is covered.

I don't work for Geico and I don't have any experience with this policy but the way it is worded, it is pretty clear. I am also not a big fan of service contracts. It is just like one of the tables in a casino. You might win or loose but the house always wins in the long haul.
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      06-04-2021, 06:42 AM   #18
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I bought the platinum. My previous car was the Lexus LS460 F Sport. This is one of the most reliable cars on the planet - you would think. But I spent over $4000 on door lock actuators during the first 100,000 miles, not to mention other items. So I figured if the most reliable car on the planet costs me well over the cost of the BMW extended warranty, it was a no brainer.
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      06-04-2021, 07:00 AM   #19
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Quote:
Originally Posted by Timmer-Bimmer View Post
I bought the platinum. My previous car was the Lexus LS460 F Sport. This is one of the most reliable cars on the planet - you would think. But I spent over $4000 on door lock actuators during the first 100,000 miles, not to mention other items. So I figured if the most reliable car on the planet costs me well over the cost of the BMW extended warranty, it was a no brainer.
Thank you for your perspective and for sharing your previous experience with Lexus.

Just to follow up real quick, did you buy the platinum EW all the way to year 7?
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      06-04-2021, 07:48 AM   #20
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Quote:
Originally Posted by Wait What? View Post
Thank you for your perspective and for sharing your previous experience with Lexus.

Just to follow up real quick, did you buy the platinum EW all the way to year 7?
I bought 100,000 miles / 5 years.

My normal driving pattern is to do 20,000 miles a year, which is also why I never consider leases. The max miles you can get is 100,000, so I did not consider 6 or 7 years.

Of course, my normal driving pattern was interrupted during covid, so I may need those extra years, although I will probably want something new by then.
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      06-05-2021, 11:03 AM   #21
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Can anyone share how much they paid for the Platinum warranty through BMW (or its surrogates)? I see these threads all over but rarely see how much people actually paid.
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      06-05-2021, 11:48 AM   #22
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I bought the 2 year extended warranty to extend the initial 4 years for approximately $2000 CAD. BMW Canada had a 50% sale on it luckily. More importantly, I purchased the extended warranty because my previous F15 had a leak in the rear left air suspension exactly a week after the 4 year warranty had expired. I was fortunate enough that I did not incur any cost for the repair because BMW Canada decided to extend my warranty by a full month due to Covid. When you have such an experience, you definitely start looking into purchasing an extended warranty.
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