What Kind of AfterMkt Warranty Deals Are You Getting From Dealer????

[mact3333]

For some context, I will realistically keep my 2016 M for 3-3.5 years. Normally I keep my cars for 1-2 years, since this car is brand new and so expensive, will try to keep longer than usual. I drive 20-25K miles per year so I drive a lot so I could be out of warranty in 2 years.

My dealer is offering me 5 year/100K miles extended warranty for 2300.00. I am not worried about the 5 years part given the amount of miles I drive per year.

Do you think 2300 is a good value since it essentially doubles my warranty?. Dealer claims its fully transferable and will even cover electronics/NAV which CPO cars don't tend to cover. Deductible is 200.00. Wont cover wear and tear times obviously.

[afadeev]

Originally Posted by mact3333

For some context, I will realistically keep my 2016 M for 3-3.5 years. Normally I keep my cars for 1-2 years, since this car is brand new and so expensive, will try to keep longer than usual. I drive 20-25K miles per year so I drive a lot so I could be out of warranty in 2 years.

After 3.5 years, you are projecting to have driven 70-87.5K miles, so you only may need need the warranty for 20-37.5K miles after BMW's is used.

Buying a warranty that covers any more than that is a waste, as few 3rd party buyers will put any value on it (even if transferable), and dealer will CPO the card for resale, so zero value will be assigned during trade-in.

Originally Posted by mact3333

My dealer is offering me 5 year/100K miles extended warranty for 2300.00. I am not worried about the 5 years part given the amount of miles I drive per year.

Do you think 2300 is a good value since it essentially doubles my warranty?

The devil is in the details.
Read the fine print, and what is excluded.
What are the deductible policies? Per incident? Per year? Per visit?
See who is underwriting the policy (definitely not BMW!), and what is their credit rating and customer feedback / reputation.

Originally Posted by mact3333

Deductible is 200.00. Wont cover wear and tear times obviously.

There is nothing "obvious" about what is, and what is not, deemed to be "wear and tear". This is a loop hole the size of an 18-wheeler. Read the fine print!

Historically, most after-market policies are not apples-to-apples comparable (reed the fine print!), with the ones presenting the best value for the money frequently going out of business a few years after your check has been cashed.

Good luck,
a