Extended warranty -- Need to buy for 2014 X5

[bmwx5er]

Originally Posted by P1et

The BMW warranty is the most expensive, but has the lowest risk of being denied coverage.

The warranty contract determines the coverage. My Route 66 plan covered stuff that would’ve been denied by bmw cpo (or bmw platinum plan). Buy an exclusionary plan from a company with good reviews and you should be fine. Unfortunately Route 66 no longer covers X5s, otherwise they would’ve been an excellent choice (I paid $2900 for 8 extra years & up to 100k miles on the odometer for bmw platinum-like plan, & it has already paid for itself. I’ve only had mine serviced at the dealer). A fellow forum member has had good experience with another company called CNA.

If you’re very keen on buying bmw-only warranty, contact Jeff Steele from passport bmw - he had the best prices when I was shopping around a couple of years ago.

[rhite95]

My local BMW dealer is telling me that the warranties are sold at a certain MSRP now.

Not sure what to think about that...

[P1]

Originally Posted by rhite95

My local BMW dealer is telling me that the warranties are sold at a certain MSRP now.

Not sure what to think about that...

Just call every dealership in the United States (not literally) and see who gives you the best price. It's almost end of month/end of year, so probably a good time to buy one.

[kanvas]

What's a good price I should be looking for? Are there different options based on by how much I want to extend the warranty? Got a 2014 X5 and really looking to buying extended warranty.

[Silververtu]

Originally Posted by kanvas

What's a good price I should be looking for? Are there different options based on by how much I want to extend the warranty? Got a 2014 X5 and really looking to buying extended warranty.

Some dealerships may sell it at "invoice", which is ~$300-400 lower than MSRP.

[P1]

Originally Posted by kanvas

What's a good price I should be looking for? Are there different options based on by how much I want to extend the warranty? Got a 2014 X5 and really looking to buying extended warranty.

Maybe a few hundred under MSRP. Keep calling around and get about 10 or so dealership to give you a quote. It's almost end of year, so a great time to buy.

I believe these can also be financed, but don't quote me on that.

[originalgoods13]

Originally Posted by barcelona

BMW Canada, as per July no longer offers the 3 yr warranty. MRSP 1 yr $3600, 2yr $10,000. I have simply traded in for new MY based on my math with various rebates and other factors.

Simply ludicrous but I am out of warranty in a week and I need an extended warranty.

I am a bit weary about 3rd Party extended warranty as they could potentially reject your claim, or you are only allowed to claim a max amount. The price is significantly less (additional 5 years for $4500) but the risk is high.

I am thinking of picking up another year (3600) to decide if I need to dump the X5 or roll in to something new with 4 yr warranty (non-X5).

New X5 has gone up in price substantially. MSRP back in 2013 was $62,900 and it is now $68,900 so that's a no-go for me.

I will miss the technology though. I am leaning over a Volkswagen Atlas and keep that for a decade, then possibly go back to BMW again one day.

[barcelona]

Originally Posted by originalgoods13

Simply ludicrous but I am out of warranty in a week and I need an extended warranty.

I am a bit weary about 3rd Party extended warranty as they could potentially reject your claim, or you are only allowed to claim a max amount. The price is significantly less (additional 5 years for $4500) but the risk is high.

I am thinking of picking up another year (3600) to decide if I need to dump the X5 or roll in to something new with 4 yr warranty (non-X5).

New X5 has gone up in price substantially. MSRP back in 2013 was $62,900 and it is now $68,900 so that's a no-go for me.

I will miss the technology though. I am leaning over a Volkswagen Atlas and keep that for a decade, then possibly go back to BMW again one day.

Tough call, but always go with what you feel comfortable with. The Canadian BMW warranty use to be an inclusive plan with listed exclusions. I think most 3rd parties simply list what is covered (non-oem parts) and hence if you have a claim ideally the item is listed. BMW has raised the warranty prices and removed the 3rd year option, ether to make more profits or the margins has dropped due to excessive claims. Personally I want coverage whereas my friend believes that all warranties are designed to make monies so why bother especially if one has a good indy.

BMW always raises the prices, normally prior years options become standard features. They say it is better value, which is generally true. But if the new standard feature adds no value to owner then it is wasted coin. I assume other manufacturers have similarly increased their prices.

BMW technology seems good, I always get them as that is most important. Non safety features are less important to me.

With respect to driver/passenger safety following an accident, other forum members have AFAIK posted amazing safety outcomes.

If wanting to retain a vehicle for 10 years, one likely has better luck with Japanese models for reduced repair frequency and cost per incident.

Good luck.

[originalgoods13]

So rather than grabbing a new vehicle, I signed up for an extended warranty. It is provided by this company called LGM from B.C. and they call it SecureDrive.

There is $1,000 loyalty bonus discount if you signed up on where you bought the vehicle from.

Breakdown of the prices are attached (minus $1,000 loyalty bonus)

Claim Free reward:

a. SecureDrive plan can be applied to your next vehicle w/o factory warranty
b. $2,000 credit to the dealer purchased
c. $1,000 cash refund

I have also attached the contract details (Canada SecureDrive Elite)

[X54TH]

Originally Posted by originalgoods13

So rather than grabbing a new vehicle, I signed up for an extended warranty. It is provided by this company called LGM from B.C. and they call it SecureDrive.

There is $1,000 loyalty bonus discount if you signed up on where you bought the vehicle from.

Breakdown of the prices are:

60 mo (Dec 2018) $3.7K or 100K kms
72 mo (Dec 2019) $5.2K or 100K kms
84 mo (Dec 2020) $6.2K or 100K kms
96 mo (Dec 2021) $6.9K or 100K kms
108mo (Dec 2022) $7.6K or 100K kms

Claim Free reward:

a. SecureDrive plan can be applied to your next vehicle w/o factory warranty
b. $2,000 credit to the dealer purchased
c. $1,000 cash refund

I have attached the contract details (Canada Only)

Good info. Thanks! Not there yet. I have until October 2018 but wondering what it would cost in Canada. We bought a 3rd party warrant from Lubrico for our previous E70 X5 and I think I was about ~$2,000. For the most part It worked out ok except for one issue that they didn't cover. Definitely need to read through the contract.

Out of curiosity is the extended warranty the same for a 2 series?

[originalgoods13]

The prices vary with each model BTW, X5 being more than its counterparts.

[kanvas]

Would it be better to find a trustworthy and reputable independent shop that specializes in BMW than to purchase extended warranty?

[X54TH]

Originally Posted by kanvas

Would it be better to find a trustworthy and reputable independent shop that specializes in BMW than to purchase extended warranty?

That's what I had in the past...an independent BMW shop but unfortunately my guy moved on and now I'm stuck with the dealership.

[originalgoods13]

Originally Posted by kanvas

Would it be better to find a trustworthy and reputable independent shop that specializes in BMW than to purchase extended warranty?

That is what I thought as well, but 1 break/fix or 1 trip to the shop can possibly pay for the extended warranty itself.

With complex and sophisticated technology, it is something my family do not want to gamble.

Plus, claim free can give you credit to a new extended warranty, a $2,000 credit to buy whatever at the dealership, or $1,000 cash back.

Also, shall I switch or trade-in to a new vehicle before the extended warranty expires, they can give cash back pro-rata on the remaining term.

It is not a straight win-win situation, you win some, and a worry-free ownership past the factory warranty.

I mean, I don't want to "baby" the vehicle because it is out of warranty...

[originalgoods13]

I forgot to mention that it also includes
-24/7 Roadside Assistance
-Trip Interruption allowance ($100/day max $400)

The majority of the items not covered are:
-Consumables (tires, brakes, clutch, fluids)
-Anything that your regular auto insurance that can cover
-Software updates (navigation, etc...)

For reference, I attached the breakdown cost of the SecureDrive Canada extended warranty (attached)

[P1]

OK, so I have emails out to roughly four dealerships right now, asking for extended warranties for my X5. I'll report back. I wonder if they would be open to group buys?

[originalgoods13]

Originally Posted by P1et

OK, so I have emails out to roughly four dealerships right now, asking for extended warranties for my X5. I'll report back. I wonder if they would be open to group buys?

Have you asked the dealership you purchased the vehicle from? I wasn't aware of the $1,000 loyalty until I called them and explained my situation. Other dealers nationwide did not mention anything about loyalty bonus or other incentives.

[P1]

Originally Posted by originalgoods13

Have you asked the dealership you purchased the vehicle from? I wasn't aware of the $1,000 loyalty until I called them and explained my situation. Other dealers nationwide did not mention anything about loyalty bonus or other incentives.

I bought mine from an Audi dealership...

[jiggz]

Originally Posted by P1et

OK, so I have emails out to roughly four dealerships right now, asking for extended warranties for my X5. I'll report back. I wonder if they would be open to group buys?

Extended warranties through BMW or 3rd party?

And these extended BMW warranties mentioned here, as they the same or similar to BMW's CPO warranty? I had 3 repairs needed during my CPO timeframe, and 2 were denied/not covered, so I have little faith in that warranty being of much help. Though worth mentioning, the 1 item it did cover was the big ticket item - value guide seals ($9K repair at BMW dealer). Point being, a lot of people on these forums (not you P1et!) seem to think the BMW CPO warranty is just as comprehensive as the original 4 year/50K, and it certainly is not.

FWIW I purchased a CNA exclusionary warranty, 3 years/24K miles, for $2550.

[originalgoods13]

CPO and 3rd party varies in what they cover, definitely not 100% like factory warranty.

It's all in the 8pt fine print they provide

[X54TH]

After today's appointment @ BMW for my son's 2016 M235 I'll be looking at the BMW extended warranty or trading it in. We've been hearing a vibrating sound coming from the engine. They diagnosed it today and they will be replacing the engine!! The car has 50,000 km or 31,000 miles. Upsetting, we were going to buy this car. Now I'm not sure what to do!! I'm 18 mths in a 48 mth lease (24,000 km / yr). I wonder if a 3rd party warranty would cover something like this.

[barcelona]

Originally Posted by X54TH

After today's appointment @ BMW for my son's 2016 M235 I'll be looking at the BMW extended warranty or trading it in. We've been hearing a vibrating sound coming from the engine. They diagnosed it today and they will be replacing the engine!! The car has 50,000 km or 31,000 miles. Upsetting, we were going to buy this car. Now I'm not sure what to do!! I'm 18 mths in a 48 mth lease (24,000 km / yr). I wonder if a 3rd party warranty would cover something like this.

Mileage is low, hence warranties are nice. Personally let it go. BMW warranty is inclusive.