Extended Warranty?

[GTMAN]

Hello All,

I'm new to the BMW ownership world. Just got a used '01 540i 6 spd. I'm thinking of getting an extended warranty before the fact. warranty runs out. I'm trying to do the eonomics of either keeping $2.5-3.5k for future repairs over the 7-8 yrs I'd like to own it, or spend $2.5-3.5k now on a warranty that does not cover wear and tear. I plan to put about 8k miles a year. Any thoughts?

Thanks in Advance.

GTMAN

 

[Big Daddy]

Welcome. At 8k per year I would not. I have always figured that if I maintain my vehicle and treat it right I should be alright, and I too kept the extended warranty money in the bank should I need it. I have a 98 M roadster that I have put about 8k per year on and I still have the money in the bank.

 

[AZRobert]

I've been a service consultant for many years, and my father has been a consultant, and service dept manager for pretty much my whole life, and I would definitly recommend one - but read it carefully.
I've seen too many customers who have gone out of factory warranty by only a year or two, and thier ABS pump goes out, or one of thier ignition or fuel injecton components failed. Any one of these repairs could easily cost more than what you would spend on a good extended service contract.
But, if you do get one, make sure that it does cover ABS, ignition, Air Conditioning, and fuel injection components.
Most of them will cover the basic power train components, but too many will skip these other items in the fine print.
It may be a good idea to take the extended service contracts you have narrowed it down to, and take it to you favorite technician/service writer just to make sure that the desired components are covered, and it allows you the freedom to take your vehicle to whomever you chose.

 

[kpytoi9]

If it was up to me, i would get an extended warranty. I have a 00 540i and i got the warranty from certified car care. It is the best because it covers wear and tear. just my two cents

www.certifiedcarcare.com

 

[GTMAN]

Thanks for the inputs. There are many warranty companies out there, does anyone know the good ones? I checked out the certifiedcarcare site....sounds good and pricing is one of the best. Seems to be a sole owner operation....not sure?

kpytoi9,
How is the warranty claims handled? Do you pay for the service, then you send the receipt to the ccc company? Have you had any issues with claims...any hassels?

Thanks

 

[kpytoi9]

the claims are handled by the shop that does the work. you can go to the dealer or some other shop that you want and they directly bill the warranty. So you dont have any hassles to deal with. I like it, i have it on all the cars and i never had a problem with them. I just got my starter changed in my e36 328 and no questions.