[bimmerguyallday]

Hi,

I recently purchased a BMW X7 40i. Signed up for 2 extended warranties with a 3rd party company.

5 Year - Tire & Wheel + Cosmetic Warranty(can resurface as many times as I want from curb damange) for $2,898

8 Year/100k - Extended Warranty for $3,881 no deductible if I goto the dealer I purchased it from.

What do you guys think? I have 30 days to cancel and I'm thinking about cancelling the tire/wheel warranty.

[unfoundnemo]

Originally Posted by bimmerguyallday

Hi,

I recently purchased a BMW X7 40i. Signed up for 2 extended warranties with a 3rd party company.

5 Year - Tire & Wheel + Cosmetic Warranty(can resurface as many times as I want from curb damange) for $2,898

8 Year/100k - Extended Warranty for $3,881 no deductible if I goto the dealer I purchased it from.

What do you guys think? I have 30 days to cancel and I'm thinking about cancelling the tire/wheel warranty.

I'm not a fan of buying insurances that aren't required, but I also rarely keep a car for more than 2 years and have never owned a car outside of warranty that wasn't disposable. Given that, I might not be the best reference (especially for warranties), but here are some thoughts on tire/wheel coverage:

Across all my BMWs, I opted for tire and wheel protection once (it was already in the deal when I agreed to a certain number on my 4 series, so I let them run with it). I cashed in on that policy once, which had a $50 deductible for a $200 tire, yay. Since then with 5 additional cars, I had to replace 2 tires, straighten 7 wheels (4 from one event), and replace another wheel+tire. This came to about $3250 in total across 7 events over 5 years, almost half of which came from the single wheel+tire incident where I chose to replace a wheel that could have been resurfaced. My SA advised me that my 4 bent wheels from a frost heave likely wouldn't have been covered even with a cosmetic plan since they were cosmetically fine on the outside, and held air just fine otherwise. Still, even if it was covered, hell even if they agreed to replace the wheels for $5000 rather than repairing them for $500, I have come out ahead vs the ~$10-15k worth of coverage I turned down.

Some people might refer to a single car or incident where it worked out ($2200 of my $3250 came from a single car), but you have to think about the long game for these things, that's certainly what the insurance companies are doing.

[dvu]

Originally Posted by unfoundnemo

I'm not a fan of buying insurances that aren't required, but I also rarely keep a car for more than 2 years and have never owned a car outside of warranty that wasn't disposable. Given that, I might not be the best reference (especially for warranties), but here are some thoughts on tire/wheel coverage:

Across all my BMWs, I opted for tire and wheel protection once (it was already in the deal when I agreed to a certain number on my 4 series, so I let them run with it). I cashed in on that policy once, which had a $50 deductible for a $200 tire, yay. Since then with 5 additional cars, I had to replace 2 tires, straighten 7 wheels (4 from one event), and replace another wheel+tire. This came to about $3250 in total across 7 events over 5 years, almost half of which came from the single wheel+tire incident where I chose to replace a wheel that could have been resurfaced. My SA advised me that my 4 bent wheels from a frost heave likely wouldn't have been covered even with a cosmetic plan since they were cosmetically fine on the outside, and held air just fine otherwise. Still, even if it was covered, hell even if they agreed to replace the wheels for $5000 rather than repairing them for $500, I have come out ahead vs the ~$10-15k worth of coverage I turned down. Some people might refer to a single car or incident where it worked out ($2200 of my $3250 came from a single car), but you have to think about the long game for these things.

Unfortunately I'm a sucker for extended warranties. We try to keep our cars for 7 yrs or so. I'm looking at getting bmw extended warranty and extended service plan. The best prices k can find are from Christine at Steve Thomas BMW. Anybody know of any other good deals out there? I tend to stick with the manufacturer warranty cuz I just want to minimize hassle in the future.

[sotti]

There is a reason they sell insurance, they are going to make money off them.

If you can afford the potential cost of an incident (see description about the wheels above), you're better off putting your money in a savings account and paying out of pocket.

OTOH, I used to work for the good guys selling electronics and I think their computer extended warranties actaully put them out of business because they were too good.

[Patgilm]

I never buy wheel and tire packages, especially for that kind of money. Any curb damage would cost at most $150 to repair. For tires, once you replace them with new tires, when you buy from Tire Rack it comes with Roadhazard and I’ve been successful getting a new tire twice from them and having they reimburse me for a patch once. No brainer to me to get your money back for that.

As for the extended warranty on the car itself, if you are going to hold it long term, if you want a warranty, I would only get one from BMW vs a 3rd party. What is the reason you went 3rd party?

[bimmerguyallday]

Originally Posted by Patgilm

I never buy wheel and tire packages, especially for that kind of money. Any curb damage would cost at most $150 to repair. For tires, once you replace them with new tires, when you buy from Tire Rack it comes with Roadhazard and I’ve been successful getting a new tire twice from them and having they reimburse me for a patch once. No brainer to me to get your money back for that.

As for the extended warranty on the car itself, if you are going to hold it long term, if you want a warranty, I would only get one from BMW vs a 3rd party. What is the reason you went 3rd party?

I am not sure lol. Isn't this 3rd party warranty a way better deal than the BMW one? They somehow sold it to me, guaranteed me no deductible and that they would take care of everything if issues came up. Honestly, I was at the dealership for hours because there was a shortage of finance managers and I was so out of it I just pretty much agreed to it hahaha smh. They made it sound like a way better deal over the factory BMW warranty and they got me with the "its only X amount more if you roll into the payments anyway. Also, told me I can cancel it within 30 days full refund and even if I didnt want it in the future it would be pro-rated. What is the price of the BMW warranty 8 year/100K? and can I still sign up for the BMW one right now??? Thanks for the help.

[bimmerguyallday]

Also, I had to replace so many parts with my 2016 535 out of warranty around 80-90k miles, figured the extended warranty is worth it. Just the transfer case replacement and valve cover gasket + spark plugs/coils costed me $3500 + $2000. I decided to keep the car because I spent so much money fixing it.

[Patgilm]

Originally Posted by bimmerguyallday

I am not sure lol. Isn't this 3rd party warranty a way better deal than the BMW one? They somehow sold it to me, guaranteed me no deductible and that they would take care of everything if issues came up. Honestly, I was at the dealership for hours because there was a shortage of finance managers and I was so out of it I just pretty much agreed to it hahaha smh. They made it sound like a way better deal over the factory BMW warranty and they got me with the "its only X amount more if you roll into the payments anyway. Also, told me I can cancel it within 30 days full refund and even if I didnt want it in the future it would be pro-rated. What is the price of the BMW warranty 8 year/100K? and can I still sign up for the BMW one right now??? Thanks for the help.

I’m not sure what the cost difference is but the other thing you need to understand is with manufacturers extended warranties there is no reason to buy them up front. You can buy them as long as you are within the original new car warranty period which is typical across most manufacturers so I always wait until the final month of the factory warranty to buy the extended warranty. Why would you give them free money for four years because the extended warranty doesn’t kick in until the original factory warranty is up.

[Patgilm]

Good god I did a quick search and the BMW X7 extended warranty 7yr/100k miles is around $6k so the 3rd party is cheaper by more than $2k. I still don’t like putting that much money up front for something that doesn’t get used for 4 years until the factory warranty is up.

[tripower]

My personal take is never purchase warranty, service contract and alike if you can afford to take the hit should and issue arise.

1st, You may not have the vehicle long enough for it to be needed.
2nd, Back end products (anything they try to sell you in the finance office) are just profit centers for the seller/dealer. If they were worth the money they could not afford to sell them.
3rd, If you're buying new and think after 4Y/50,000 you still need one I'm pretty sure you will get a phone call .

Again if the hit for a repair will not kill you, I say pass

[schwos]

good thread of information and appreciate everyones pov; in another thread I posted the following; but I'd like to know from experience BMW owners the value you feel the maintenance contracts are they try to sell you. I haven't purchased anything as of yet outside of the vehicle.

This is the feedback on Extended Warranty feedback which I take many prefer the BMW if one was to purchase; prior to the end of their factory.

Thanks in advance for all the reply.

I have been shopping around at various Extended Warranty Plans to include the BMW Extended Warranty. Like to get some folks feedback, experience, avoid remarks, etc. on the various plans I have seen. I have been reading all the exclusionary clauses that each have to include the BMW Extended Warranty which is similar to many and in some cases surprising what they would put in exclusionary clauses:

BMW Extended Warranty - 84/100k ($0 Deduct)
Sentinel/AUL - 84/100k up to 96/150k ($100 deductible)
Endurance - 84/100k ($250 deductible)
CarChex - 84/100k ($250 deductible)

haven't had luck finding a Zurich plan

[dmanb2b]

The tire and wheel package is overpriced IMO. I was sold a similar policy from Dent Wizard for $1,499. This included unlimited cosmetic wheel repair, windshield and dents the size of a credit card or smaller (up to $500/incident). I canceled it the next day and decided to just lower my comp deductible to $50, which was less than $150/year.

[Patgilm]

Originally Posted by dmanb2b

The tire and wheel package is overpriced IMO. I was sold a similar policy from Dent Wizard for $1,499. This included unlimited cosmetic wheel repair, windshield and dents the size of a credit card or smaller (up to $500/incident). I canceled it the next day and decided to just lower my comp deductible to $50, which was less than $150/year.

Same thing with dings, in my area they are $75-$125 per ding depending on how hard it is the fix. I don’t get that many dings or curb that many wheels to cover that expense. I’m good for one or two curbed wheels and one or two dings over a three year period so I would never get my money’s worth.

[MystroX5]

Originally Posted by tripower

My personal take is never purchase warranty, service contract and alike if you can afford to take the hit should and issue arise.

1st, You may not have the vehicle long enough for it to be needed.
2nd, Back end products (anything they try to sell you in the finance office) are just profit centers for the seller/dealer. If they were worth the money they could not afford to sell them.
3rd, If you're buying new and think after 4Y/50,000 you still need one I'm pretty sure you will get a phone call .

Again if the hit for a repair will not kill you, I say pass

Absolutely. Just put a little money away each month and you will be your own warranty. This way if you don’t need it you have a $5k rainy day fund.

[davids2954]

I purchased tire & wheel with my 5 series and it saved me a lot of money. At the time I was driving 120+ miles round trip for work each day, mostly on interstates and was constantly having to replace tires so it worked out well. I purchased it for my X5 but had moved and was only driving 20+ miles round trip for work each day and never used it once, so I passed on the X7 since it didn't seem to make sense any more.