[mjr24]

I’m assuming a lease from someone who has these warranties and the finance department of the dealer he bought from says they aren’t transferable. However, I thought these were?

[ResIpsaLoquitur]

Originally Posted by mjr24

I’m assuming a lease from someone who has these warranties and the finance department of the dealer he bought from says they aren’t transferable. However, I thought these were?

What company/companies are they through?

[mjr24]

Great question….I’m not even sure.

[jnotrom711]

It depends on the brand of the warranty.

I purchased my M5 Comp 2nd hand from original owner. Purchased direct from him. He had purchased the extended warranty to 100K miles, as well as the service/maintenance to 100K miles.

These were both BMW OEM contracts. I was able to get them both transferred to me with a little bit of work on my end as well as the other owner.

Those were a big plus to me, while I havent really had much needing warranty work, I have taken advantage of the maintenance plan. Recently just got full service/oil change, as well as all new OEM pads and rotors done free of charge. The car is well out of factory warranty, but all of it was covered.

I actually paid him more than I could have got a comparable car from a dealer... because he was willing to work with me to get them transferred to my name. Also in Arizona, buying private party the state does not charge sales tax to the new owner. So between the warranty, and tax savings, I probably saved 15-20,000.00 buying from him, even though I could have purchased similar spec, miles, for maybe a little less$$ from a dealer. dealers hate the Arizona sales tax thing because private sellers in AZ have a huge advantage when they sell to a private party, and I had full warranty, service, maintenance to 100k miles.... A dealer likely would have never even cared to transfer to me, maybe not even known, or would have cancelled it themselves, who knows, so that private party car was a huge selling point over ANY car from ANY dealer.... But I digress...

Anyway, I believe it also depends which contract he purchased. Some are transferable some are not, and some used to be transferrable and some are not (from BMW).

If its a 3rd party warranty plan, same is true, some are transferable, some are not. It should say in the contract for all of them.

Also keep in mind he can cancel them, and usually receive a prorated dollar amount back based on time, miles, or claims made. Not that he would know this, or would be slimy.... but if he is willing (and able) to transfer those contracts to you make sure they actually do get transferred, because if they don't, he could in turn cancel them and get refunded for the cost of those contracts. Most people don't know that. On the flip side, if you dont care about the warranty, or it CANT be transferred to you, you could look like a hero to him, and say "look they cant be transferred, but you could cancel them and get a big chunk of $$ back, that im willing to split with you, just take it off the price of the car". Say he gets 5K back, lower the price 2500.00 for you, and he gets 2500.00 back. Or I suppose you could just say nothing, or he could just say "ill cancel, and keep all of the $$ pound sand" .. would be kinda a dick move to do that unless he already knew that.

All of this is depending on many variables best plan would be to find out which ones he/she purchased, and contact those companies direct, or read through the contract if they still have it. Hope this helps.

[ResIpsaLoquitur]

Originally Posted by mjr24

Great question….I’m not even sure.

We can’t answer that question without knowing them. jnotrom711 has already covered why it’s relevant though. You’ve got some really good info to go off of there, OP.

[jnotrom711]

Originally Posted by mjr24

I’m assuming a lease from someone who has these warranties and the finance department of the dealer he bought from says they aren’t transferable. However, I thought these were?

Forgot to add...

Just because the dealer says it's not transferable, doesn't mean it isnt.

A dealer will do all they can to get you to buy a warranty and these things from them.

So really, you need the contract verbiage to know for sure. Dont count on a dealership to give you accurate information, or care to help you at all. I know this because thats exactly the case when I did it. I went to a local BMW dealer and asked for their help, and the finance director was a complete prick, and could care less to help unless they were getting a commission on it.

[PetroM5]

Originally Posted by jnotrom711

Forgot to add...

Just because the dealer says it's not transferable, doesn't mean it isnt.

A dealer will do all they can to get you to buy a warranty and these things from them.

So really, you need the contract verbiage to know for sure. Dont count on a dealership to give you accurate information, or care to help you at all. I know this because thats exactly the case when I did it. I went to a local BMW dealer and asked for their help, and the finance director was a complete prick, and could care less to help unless they were getting a commission on it.

This is 100% true. I purchased a pre-owned 2022 M5 Competition back in May and the dealer told me the 3-year 36,000-mile standard maintenance service was not transferrable. After calling BMW North America, it turns out it is transferrable on MY2022 and newer models. The dealer was trying to sell me a maintenance package.

[mjr24]

Originally Posted by jnotrom711

Forgot to add...

Just because the dealer says it's not transferable, doesn't mean it isnt.

A dealer will do all they can to get you to buy a warranty and these things from them.

So really, you need the contract verbiage to know for sure. Dont count on a dealership to give you accurate information, or care to help you at all. I know this because thats exactly the case when I did it. I went to a local BMW dealer and asked for their help, and the finance director was a complete prick, and could care less to help unless they were getting a commission on it.

Yep, exactly….the dealer was saying it’s not transferable but I don’t really believe them. Trying to get the actual contracts.

[jnotrom711]

You should be able to contact BMW and see if it is a BMW contract and theyre the ones providing the warranty. They'd just need the VIN.

Since its a lease, I would lean towards the fact that its a BMW contract. If thats the case you can usually find that information online. A dealer service dept could also put the VIN in their system and tell you if it has the extended contract and what one it is. Then contact BMW Corporate and see about how to get it transferred.

The warranty/service that come standard on the car when purchased new should mostly transfer, and you wont have to do anything to transfer them, they stay with the car the typically. The could be some exclusions but it would be in the printed warranty manuals etc. Easily finable online.

But best option for the extended contracts would just be to call BMW and give them the vin. Theyll tell you what contract it has (if it's a BMW product) and if it can be transferred, as well as the process to transfer it.

If it's 3rd party, you'd need that company who issued the warranty then contact them.

Pull a carfax and look back to the first purchase, or ask the current owner what dealer he bought it from, and call them direct. Ask for what warranty was purchased with the car. You dont necessarily have to tell them youre not the current owner (if you catch my drift) but just inquire as if you forgot what company it was and what the protocol is if you were to sell the car to someone else.

Surprising someone leasing would opt to add extra items over the factory OEM bumper to bumper that comes with the car as standard. But to each their own,

[mjr24]

Ok so it seems he has lease end protection (which covers damage up until $5k at lease turn in) and extended maintenance…they both are BMW contracts and not third party.

BMWFS is closed so can’t clarify transfer status but I assume both are transferable.

This lease has 1 year left and the car has 17k miles….isn’t the extended maintenance pretty much useless? It’s already covered for 3 years 36k miles….and the brakes aren’t going to be need to be done either.

Could he even cancel these both and get a pro rated amount of money back as I assume his lease payment is based on him buying these warranties….?

[ResIpsaLoquitur]

Originally Posted by mjr24

Ok so it seems he has lease end protection (which covers damage up until $5k at lease turn in) and extended maintenance…they both are BMW contracts and not third party.

BMWFS is closed so can’t clarify transfer status but I assume both are transferable.

This lease has 1 year left and the car has 17k miles….isn’t the extended maintenance pretty much useless? It’s already covered for 3 years 36k miles….and the brakes aren’t going to be need to be done either.

Could he even cancel these both and get a pro rated amount of money back as I assume his lease payment is based on him buying these warranties….?

I have always known lease end protection to be transferable to a subsequent lessee when initially acquired as part of BMW’s Ultimate Care Program if the vehicle is acquired new from a BMW dealer. BMW seems to confirm this, but please confirm on your end as well.

I do not know about the extended maintenance or whether either can be canceled a prorated refund paid to the original lessee.

These items were likely rolled into the lease payment. BMWFS will allow you to pay for them upfront however if the original lessee so desires, but usually in the form of money down to the dealership.

Hope this helps. Keep us posted.

[jnotrom711]

Originally Posted by mjr24

Ok so it seems he has lease end protection (which covers damage up until $5k at lease turn in) and extended maintenance…they both are BMW contracts and not third party.

BMWFS is closed so can’t clarify transfer status but I assume both are transferable.

This lease has 1 year left and the car has 17k miles….isn’t the extended maintenance pretty much useless? It’s already covered for 3 years 36k miles….and the brakes aren’t going to be need to be done either.

Could he even cancel these both and get a pro rated amount of money back as I assume his lease payment is based on him buying these warranties….?

As far as being able to cancel it, it depends... Some times it is sometimes it isnt. Sometimes it's fully refunded in full sometimes not. From what ive read and seen it depends on state laws. Theyre all a little different. Some prorate based on miles, some on time, some will prorate minus any claims paid out, some will prorate regardless of claims.

Im not an attorney by any means, however it appears to me its different state regulations that allow or dont allow for these companies to refund, prorate, and how those refunds are calculated.

This would all be in the fine print for that contract. But in any case, BMW will be able to tell you for certain.

As far as being a lease? That i'm not 100% sure on. I wouldn't think it would matter? But very possible it does affect the refund-abilitly to some degree being a lease... possibly. Also since this isn't a standard contract (being a lease end protection), it's very possible it could be a completely different type of contract and stipulations, since it appears its a specific product for lessees. Very possible cancel options are different as well, and they don't have the same rules as a typical extended service contracts.

I would imagine if it can be canceled, they would either credit the pay off balance and lower the payments respectively. My guess is its through BMW financial, and I would think they could lower the payments or just send a check to the original owner.

I cancelled a warranty a long time ago on a financed car, and if the car still had a pay off the refund went to the bank. If the car was paid off or canceled at the time of a trade in or sale then they asked for the sale/trade paper work and made sure it was paid off in full first, then sent to owner. In either case they would want an odometer disclosure, and paper work to issue the proper credit.

I suppose the extended maintenance contract could be completely useless and a waste of money, but would need to know the terms of it, and if you are planning to buy the car out after the lease expires? Whats your end goal with the car? Whats the term? For me I wasnt leasing, and wasnt buying from someone leasing. The coverage was to 100K so it was worth it for me to dig in and get transferred. ive had several services since OEM warranty expired, including all new rotors and pads, which was fully covered and I paid nothing.

[mjr24]

Originally Posted by jnotrom711

As far as being able to cancel it, it depends... Some times it is sometimes it isnt. Sometimes it's fully refunded in full sometimes not. From what ive read and seen it depends on state laws. Theyre all a little different. Some prorate based on miles, some on time, some will prorate minus any claims paid out, some will prorate regardless of claims.

Im not an attorney by any means, however it appears to me its different state regulations that allow or dont allow for these companies to refund, prorate, and how those refunds are calculated.

This would all be in the fine print for that contract. But in any case, BMW will be able to tell you for certain.

As far as being a lease? That i'm not 100% sure on. I wouldn't think it would matter? But very possible it does affect the refund-abilitly to some degree being a lease... possibly. Also since this isn't a standard contract (being a lease end protection), it's very possible it could be a completely different type of contract and stipulations, since it appears its a specific product for lessees. Very possible cancel options are different as well, and they don't have the same rules as a typical extended service contracts.

I would imagine if it can be canceled, they would either credit the pay off balance and lower the payments respectively. My guess is its through BMW financial, and I would think they could lower the payments or just send a check to the original owner.

I cancelled a warranty a long time ago on a financed car, and if the car still had a pay off the refund went to the bank. If the car was paid off or canceled at the time of a trade in or sale then they asked for the sale/trade paper work and made sure it was paid off in full first, then sent to owner. In either case they would want an odometer disclosure, and paper work to issue the proper credit.

I suppose the extended maintenance contract could be completely useless and a waste of money, but would need to know the terms of it, and if you are planning to buy the car out after the lease expires? Whats your end goal with the car? Whats the term? For me I wasnt leasing, and wasnt buying from someone leasing. The coverage was to 100K so it was worth it for me to dig in and get transferred. ive had several services since OEM warranty expired, including all new rotors and pads, which was fully covered and I paid nothing.

Honestly....0% chance of buying it out. It basically is just holding me over a year (as this lease matures in September 2024) until the new 5's come out and I determine whether I want the new M5 or maybe just the i5 M60.

Thus, to me, the maintenance is pointless because we all know brakes don't go out on these cars at 36k miles. Like, it's what.....literally wiper blades are about the only thing the extended maintenance covers that the normal 3 year/36k maintenance doesn't cover.

I'll have to call BMWFS and get some hard answers on the warranties and ideally I need to get copies of complete terms on each one. Even the lease wear/tear....BMW does not charge much on stuff at lease end and I've been charged one time ever at lease end for something (it was a dented bumper on my M6 and it was literally only a $400 charge). You would legit have to turn the car in without doors and a tranny for them to ever get close to $5k in damages the way they assess.

[jnotrom711]

With that then I wouldnt really worry about it either way then. If you can get the lease protection transferred easily then youre good to go, but personally based on all you've mentioned I dont even know if id waste my time with any of it