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      04-08-2020, 02:39 PM   #1
Valentino15
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Extended Service Plan for X7?

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I'm about to FINALLY take delivery on my X7 this Saturday.

I am buying an plan to keep for 5-6 years so I have already negotiated 6 yr 100k warranty.

What service plan should I go with, I'd like to extend to at least 5 years.

Website is confusing about Ultimate Care, Ultimate care +, and Ultimate Care Scheduled...

Any advice and what you paid would be appreciated.
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      04-09-2020, 09:34 AM   #2
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It will come with Ultimate Care, that's 3 yr/ 36,000 miles. Ultimate Care + will add wipers and brakes into that plan (making it similar to how BMW was before 2016). Then you have the +1,2,etc. to extend that term out.

I have been leasing the last few cars so I haven't needed to extend anything, even with a 15k/yr lease you should be able to get everything in at 36,000 miles and not have to worry about much, if anything, before you hand it in. You're planning on keeping it longer and already negotiated the warranty, so if you really want the service coverage it will probably be worth it since you'll definitely be replacing brakes in that time.

For me, I have only been opting for Care+ since 2016. I got used to being able to get free wipers 1-2 times a year which just about pays for the $600-$700 additional at OEM prices (that's what I've paid, I believe $700 for the X7 and $600 for the rest, low enough I haven't tried to negotiate it down). You typically wouldn't need brakes within 36k miles, but I've pushed 1.5 sets through 2 different SUVs that were close enough so it's more than paid for itself.
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      04-09-2020, 12:45 PM   #3
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Another data point for the OP (and full disclosure, I also intend to keep my X7 for a while after warranty and I am not a fan of these extended maintenance plans). Using a popular internet discount BMW parts vendor (GetBMWParts.com), the parts for a full X7 brake job (all four corners, new pads & rotors) is $1066. For pads only on all four corners, $350. Note, there are three brake configurations for the X7: 1) M-Sport Brakes, 2) Standard Brakes, and 3) Standard Brakes w/Factory Trailer Hitch (configuration 3 is in the middle cost wise and the numbers above are for configuration 3).

Costs when having the dealer do a full brake job will include labor and a higher dealer cost for parts - which can vary by region. Also, while the X7 is still new so there is little to no data on how long brakes will last, it is probably unlikely that you will need new rotors within the 3yr/36k mile period and most likely won't even need new pads in that period as well (take a look at your vehicle status condition based maintenance screen and see when the computer thinks you will need a brake job for the front or rear).

So, finding a good independent shop with reasonable labor rates (and they do exist) combined with buying your own parts, even genuine BMW parts, may be a better use of your money than the extended maintenance plan. You can save even more money if you can DIY a bit, too. So my recommendation is save your money on the extended maintenance plan and just pay for the maintenance when you need it. Hell, even the wipers on these cars last longer than you may think too....
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      04-09-2020, 02:54 PM   #4
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Quote:
Originally Posted by Valentino15 View Post
I'm about to FINALLY take delivery on my X7 this Saturday.

I am buying an plan to keep for 5-6 years so I have already negotiated 6 yr 100k warranty.
I'm also planning on keeping long term. Curious what you were able to get the 6yr 100k warranty for and what does it cover?

Thanks
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      04-10-2020, 05:53 AM   #5
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Quote:
Originally Posted by thenew3 View Post
I'm also planning on keeping long term. Curious what you were able to get the 6yr 100k warranty for and what does it cover?

Thanks
Well, my situation is a bit unique. In another post, I referenced some majors issues I had with my previous 2014 550ix. Basically, just outside of extended warranty, they found a 13k repair caused by oil leaks. This happened like 3 weeks after it expired AND after I had it serviced through them....The dealer offered to buy me the warranty on this one after the hit I took on my last car through them. I was told 8k as the cost but have been unable to verify. I pick up my car this weekend, will share details of what is covered.
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      04-10-2020, 08:19 AM   #6
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I'm kinda with. jmciver on this one. From an economic stand point it's always better to self insure. And usually warranties aren't a great deal.
They usually factor the worst everything can go wrong, add premium labor costs, and then add an opportunity cost like a high interest rate to get their price. That's before any bonuses or kickbacks for those who sell the policies. Add in that you usually have to pay a minimum fee and/or something might not be covered; and it's normally a bad a deal.

As a regular guy with a couple degrees on the wall, I take a couple $ per month and put it into a Savings account, and every year put most of the unused part into a Laddered CD plan. That monies will always be "earmarked" for my insurance and warranty needs. And it's mine and earns 2% interest right now for me.
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      04-10-2020, 11:44 AM   #7
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Quote:
Originally Posted by Resjudicata View Post
I'm kinda with. jmciver on this one. From an economic stand point it's always better to self insure. And usually warranties aren't a great deal.
They usually factor the worst everything can go wrong, add premium labor costs, and then add an opportunity cost like a high interest rate to get their price. That's before any bonuses or kickbacks for those who sell the policies. Add in that you usually have to pay a minimum fee and/or something might not be covered; and it's normally a bad a deal.

As a regular guy with a couple degrees on the wall, I take a couple $ per month and put it into a Savings account, and every year put most of the unused part into a Laddered CD plan. That monies will always be "earmarked" for my insurance and warranty needs. And it's mine and earns 2% interest right now for me.
Good point (and idea) regarding the "self insure" planning - something I have never done in the past, but considering it going into the future. So for the consideration of the OP, take a look at how much your monthly payment increases when you add the extended maintenance plan. Then instead of getting the extended maintenance plan, dump that "extra" amount into an interest bearing account like Resjudicata mentioned, and go from there....
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      04-10-2020, 01:41 PM   #8
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Quote:
Originally Posted by jmciver View Post
Quote:
Originally Posted by Resjudicata View Post
I'm kinda with. jmciver on this one. From an economic stand point it's always better to self insure. And usually warranties aren't a great deal.
They usually factor the worst everything can go wrong, add premium labor costs, and then add an opportunity cost like a high interest rate to get their price. That's before any bonuses or kickbacks for those who sell the policies. Add in that you usually have to pay a minimum fee and/or something might not be covered; and it's normally a bad a deal.

As a regular guy with a couple degrees on the wall, I take a couple $ per month and put it into a Savings account, and every year put most of the unused part into a Laddered CD plan. That monies will always be "earmarked" for my insurance and warranty needs. And it's mine and earns 2% interest right now for me.
Good point (and idea) regarding the "self insure" planning - something I have never done in the past, but considering it going into the future. So for the consideration of the OP, take a look at how much your monthly payment increases when you add the extended maintenance plan. Then instead of getting the extended maintenance plan, dump that "extra" amount into an interest bearing account like Resjudicata mentioned, and go from there....
exactly!

The key is to have the discipline to only use that money for repairs or "emergencies". It's tempting to use it for a vacation or something else, but if you're disciplined- it works.
if you're worried about spending it early, you can also stick the $ in a different bank or credit union so it's diversified from your main holdings and you don't see it every day when you log into your online banking or see the statements.
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      04-11-2020, 10:18 AM   #9
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Extended maintenance is a little different than extended warranty from a "self-insure" perspective since if you do make it past the included maintenance plan, you are guaranteed to be pulling from that money. This is not the case from a warranty or insurance standpoint. You may pull from the funds in these cases too, and you might even go over the amount you put aside on a specific vehicle, but you shouldn't look at saving this way as a short term decision, you have to play the long game over multiple vehicles.

When it comes to extending warranty vs maintenance, keep in mind the maintenance plan is also not transferrable, so there is no added value if you do not keep the car for the full term and you're just throwing the money away. This is why they can sell the extended plans for less than the sum of the scheduled maintenance over the term.

I'm not really trying to argue either way, just pointing out some additional considerations. Yes, you could do the same maintenance yourself or at an independent shop for less than the cost of the maintenance plan as well, but at those costs, you won't have the same conveniences of loaner cars and should certainly consider the value of your time. When the maintenance is needed and you dont have the time to look at it as a fun hobby where you happen to save some money, I'm guessing any of us with an X7 would be billing our hours at a much higher rate than the BMW shop rate.

Last edited by unfoundnemo; 04-11-2020 at 10:38 AM..
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