[-Vanguard-]

Never, ever buy the extended warranty. If BMW didn't make a profit on them, they wouldn't sell them which tells you everything you need to know.

There arent too many new BMW's are are being owned for 100K miles and these cars will usually be quite trouble free until then, obviously there are exceptions.

Hell, most BMW's are leased anyway and with the way new cars are advancing these days like cell phone tech, it doesn't make sense to keep a car more than 5 years.

Another thing to think about is that if you happen to get a breakdown after your warranty, your service advisor will work with BMW to goodwill or help get a big discount on an out of warranty repair if you have been loyal to that service department.

[Frenetic]

Well, it’s a crap shoot to be honest. No matter how many experts say they aren’t worth it and it’s better to just bank the warranty cost for future repairs, there’s just something psychological about that warranty. Peace of mind has a price and that’s why insurance exists.

Say, hypothetically speaking, the odds of a warranty repair that exceeds the cost of the warranty is 10% (a net gain, ignoring net present value). How much is that worth? Is it worth it to pay $x dollars for a 10% payback chance?

[wifesbimmer]

Look. Your insurance policy will not ever cover repairs of your engine or headlights. With such technological advancements made in the automobile industries, issues with HUD, heated and cooled cupholders, DAP, DHP, massage seats and such can cost you thousands at a time. I would much rather pay a few thousand dollars in advance and be worry free.

Moreover, I look at my extended warranty as a tool to make my vehicle look more marketable in the used market when the time comes to sell it. When I listed my F15 for sale last year, one of the very first questions was whether the vehicle had any warranty left on it or not. That is indicative of what people look for in the used market which makes vehicles with warranties very sought after. Perhaps, one could easily recover at least 20% of the cost of the extended warranty when selling your top notch shape X5.

[fndrplayer13]

Originally Posted by wifesbimmer

Look. Your insurance policy will not ever cover repairs of your engine or headlights. With such technological advancements made in the automobile industries, issues with HUD, heated and cooled cupholders, DAP, DHP, massage seats and such can cost you thousands at a time. I would much rather pay a few thousand dollars in advance and be worry free.

Moreover, I look at my extended warranty as a tool to make my vehicle look more marketable in the used market when the time comes to sell it. When I listed my F15 for sale last year, one of the very first questions was whether the vehicle had any warranty left on in or not. That is indicative of what people look for in the used market which makes vehicles with warranties very sought after. Perhaps, one could easily recover at least 20% of the cost of the extended warranty when selling your top notch shape X5.

I've never bought an extended warranty but these are great points, in my opinion.

[Frenetic]

If I wasn’t leasing, I would buy the platinum warranty.

Peace of mind is worth it to me and repairs are getting more and more expensive for these cars.

I have no idea what the “insurance table” is, but even if it was 10%, I would still buy it. I’m sure some actuary out there could crunch the numbers but to me the reward outweighs the risk (to a certain $$).

[Wait What?]

Originally Posted by Frenetic

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.

I sent you a PM.

[cellarrat]

Originally Posted by -Vanguard-

Never, ever buy the extended warranty. If BMW didn't make a profit on them, they wouldn't sell them which tells you everything you need to know.

There arent too many new BMW's are are being owned for 100K miles and these cars will usually be quite trouble free until then, obviously there are exceptions.

Hell, most BMW's are leased anyway and with the way new cars are advancing these days like cell phone tech, it doesn't make sense to keep a car more than 5 years.

Another thing to think about is that if you happen to get a breakdown after your warranty, your service advisor will work with BMW to goodwill or help get a big discount on an out of warranty repair if you have been loyal to that service department.

I generally agree that extended warranties are not worth the price and don't remember ever buying one, but I think this is well overstated.

First, the fact that the company makes a profit is sort of a red herring. The companies providing my life, health, homeowners, umbrella and collision coverages all make profits and yet the coverages provide me with value. The companies spread the risk of claims over vast populations and, on balance come out ahead. That doesn't mean that you want to go without insurance betting you never have a house fire or need a transplant.

Second, you say one should "never, eve" buy the extended warranty and then rely on the fact that most of these cars are leased. Certainly f you intend to get rid of the car in a couple of years the question is moot. I rarely get rid of a car before it hits 100k miles.

I am not saying that buying the coverage makes sense. I haven't looked at the coverage yet, and don't know the cost. Also, your ability to shrug off a $5k repair if you lose your bet going bare has a lot to do with whether the coverage makes sense.

Again, not really contesting your principle point: extended warranties are often just extra profit for the dealer or retailer. To me, that doesn't mean they "never, ever" make sense.

[-Vanguard-]

Originally Posted by cellarrat

I generally agree that extended warranties are not worth the price and don't remember ever buying one, but I think this is well overstated.

First, the fact that the company makes a profit is sort of a red herring. The companies providing my life, health, homeowners, umbrella and collision coverages all make profits and yet the coverages provide me with value. The companies spread the risk of claims over vast populations and, on balance come out ahead. That doesn't mean that you want to go without insurance betting you never have a house fire or need a transplant.

Second, you say one should "never, eve" buy the extended warranty and then rely on the fact that most of these cars are leased. Certainly f you intend to get rid of the car in a couple of years the question is moot. I rarely get rid of a car before it hits 100k miles.

I am not saying that buying the coverage makes sense. I haven't looked at the coverage yet, and don't know the cost. Also, your ability to shrug off a $5k repair if you lose your bet going bare has a lot to do with whether the coverage makes sense.

Again, not really contesting your principle point: extended warranties are often just extra profit for the dealer or retailer. To me, that doesn't mean they "never, ever" make sense.

When did I "rely" on the fact that most of these cars are leased? Those were two separate statements.

[synchronicityii]

Originally Posted by Wait What?

I sent you a PM.

My 2022 X5 xDrive45e M Sport is in production right now. I'm coming a little late to this conversation, but could you PM me as well? I'd love to go into my conversation with the dealership armed a bit better. Thank you!

[goobies818]

Originally Posted by Timmer-Bimmer

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.

My wife had an IS250...as well as my coworker (same year) and both cars were total duds. I really think Toyota/Lexus has been riding on the perception their brand is reliable than actual fact.

My wife has had her engine rebuilt 2x outside the normal warranty coverage but still covered under some extended warranty that went to 120K miles (not advertised of course)...both times...the car broke down and stranded her in very bad spots where i had to rush to get her...she'd take my car and i'd wait for the tow truck on the side of the highway. My coworker...her infotainment screen went kaput after warranty so she couldn't control her A/C. She threw in the towel and got an XC60 shortly.

Ah...and the best man at my wedding...same IS again...not sure what his car's problem is...but every time he starts the car...there's this weird grinding noise...as if the timing chain or some chain has too much slack. I'm so happy we got rid of my wife's ride.

On the other side...im on my 3rd BMW...and i've found them to be pretty solid. Mainly just wear and tear items. Hasn't stranded me or my wife...the only issue is...just maintaining the car is more expensive...

[Wait What?]

Originally Posted by synchronicityii

My 2022 X5 xDrive45e M Sport is in production right now. I'm coming a little late to this conversation, but could you PM me as well? I'd love to go into my conversation with the dealership armed a bit better. Thank you!

Hi and congratulations!
I just tried to PM you but got an error message that you are not accepting PM's? Perhaps you need to change some of the settings.
Please PM me when you have fixed the issue and I will respond.

[synchronicityii]

Originally Posted by Wait What?

Hi and congratulations!
I just tried to PM you but got an error message that you are not accepting PM's? Perhaps you need to change some of the settings.
Please PM me when you have fixed the issue and I will respond.

I think it's that I have to make four comments before I can receive PMs, not just send them. I'll ping you again when I've done so. Thanks!