Quote:
Originally Posted by PanthersFX
Lets say I find a X5 that is still in warranty, how much am I looking at to add warranty to it ? and what would be covered. I see several threads discussing gold and platinum plans. Does the year and mileage they are listing add on to existing ?
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As someone with a LONG time in the industry, both on the consumer and the service side, be VERY careful which warranty you buy. OEM will always be the best bet, and likely the most expensive for the following reasons:
Factory NEW OEM parts are used
Factory dealerships are authorized to do the work
Fluids and hoses are replaced when they are part of the repair
Gaskets are replaced
Repair is paid directly without you having to be in the middle
Repairs are authorized quickly and typically automated from the dealer
Now SOME aftermarket warranties do offer the same characteristics, however you will pay for them, and often they are only available at the time of sale from the selling dealer ie Toyota, Ford, etc. I bought my X5 from a buddy at Toyota, and they sold me the Toyota Premium care warranty, which has the exact same characteristics as the BMW warranty (BMW dealers authorized, new OEM parts only, dealer labor covered, all fluids and gaskets covered, 0 deductible etc), but these are rare as most dealers will push you into "their" in house warranty they sell, or an aftermarket one which pays them more. Most warranty companies offer a substantial commission for being sold, where as factory warranties offer very little, if any (Most dealers opt to sell their in house brand over factory OEM due to the profit margins, regardless of how pissed off the customers get once they have to actually use it).
Read the fine print on the warranty, here are some issues 90% of them have, and even a "covered part" will leave you with a substantial bill...
Non OEM parts - knock offs, or "certified replacement parts"
Used and remanufactured parts - common for engines, transmissions etc... no mileage or date limits either, so you could get stuck with a bomb that just gets you past the warranty expiration
fluids, hoses, gaskets and supporting parts not covered
"exclusions" list, which often excludes expensive and known failure parts such as certain electronics, throttle bodies, sensors etc
high deductibles, or "per item" deductibles (many won't do multiple repairs on a single ticket)
Labor cost limits, and often have a "network" of shops you can use, often excluding dealerships unless you pay the difference
No direct pay, meaning you pay the bill, and eventually you get reimbursed
extended wait times for "inspections", payments (no credit card feature or takes days to process), etc
The cheapest I could find for my 2015 X5 50i was $5,000 for 2 year/50K extension from BMW, and beyond that the price skyrocketed astronomically. BMW wouldn't give me a platinum coverage because I purchased the vehicle out of warranty by 4,000 miles and only offered powertrain, but said if I was in warranty still, it would have been the same $5,000 cost, but for full coverage. My Toyota plan was slightly less, but offered 2 year/24K with factory warranty coverage including fluids, gaskets, and 100% of the vehicle other than wearable items, unless they were part of the repair.