Extended Warranty from Dealer

[namanshah76]

Late last year I bought 2018 BMW X5 xDrive40e. I opted for the extended warranty offered by the dealer. I got the 10 year 100k miles extended warranty from DOWC for $3300.

I plan to keep the car for more than 5 years. Are these third-party warranties worth the money?

[Maverik259]

Originally Posted by namanshah76

Late last year I bought 2018 BMW X5 xDrive40e. I opted for the extended warranty offered by the dealer. I got the 10 year 100k miles extended warranty from DOWC for $3300.

I plan to keep the car for more than 5 years. Are these third-party warranties worth the money?

Is it a third party or BMW warranty? For example I bought the BMW platinum extended warranty additional 5yr/75k mile which is all I plan to own this car for and it was about $4k on a 2014 with 20k miles at the time. $100 deductible.

[Xeno]

Originally Posted by Maverik259

Is it a third party or BMW warranty? For example I bought the BMW platinum extended warranty additional 5yr/75k mile which is all I plan to own this car for and it was about $4k on a 2014 with 20k miles at the time. $100 deductible.

You paid $4K to add 5yr/75K miles to the original BMW warranty?

[CT335xi]

Originally Posted by Xeno

You paid $4K to add 5yr/75K miles to the original BMW warranty?

That’s the going rate , that’s actually a real good price as other people have payed even more, I’m also sure that being a 50i has a higher premium cause that engine costs lots $$$$$ if it has to be replaced.

[Maverik259]

Originally Posted by CT335xi

That's the going rate , that's actually a real good price as other people have payed even more, I'm also sure that being a 50i has a higher premium cause that engine costs lots $$$$$ if it has to be replaced.

Yup

[Xeno]

My dealer today quoted $7K for 84 months or 80K miles for the BMW platinum plan. Gold was a few hundred less.

I drive a 2015 X5 with 38K miles and do not plan to trade for another BMW.

[cfm56d7b]

I just a quote from my local SoCal / OC dealer.

4 years / 75K / Platinum coverage = $4799.

Mechanical breakdown protection from the credit union is 50% less.

[positiveions]

Originally Posted by Xeno

My dealer today quoted $7K for 84 months or 80K miles for the BMW platinum plan. Gold was a few hundred less.

I drive a 2015 X5 with 38K miles and do not plan to trade for another BMW.

I would shop around.

[Maverik259]

Originally Posted by cfm56d7b

I just a quote from my local SoCal / OC dealer.

4 years / 75K / Platinum coverage = $4799.

Mechanical breakdown protection from the credit union is 50% less.

Ya but what does it actually cover?

[P1]

It's clear BMW has not interested in selling extended warranties, and is pushing us punters in either leasing BMWs, or simply trading them in after the OEM warranty has expired.

[Xeno]

Originally Posted by positiveions

I would shop around.

I am going back to the dealer who sold me an extended warranty in 2012 for my 2008 X5, but am told that the rules have changed and now they will not sell to someone who is not "local" (CA vs OK).

[namanshah76]

Yes it is a third-party extended warranty from DOWC. This is my first BMW and I want to know:
1. Do I need to get an extended warranty at all?
2. Are third-party extended warranties good with claims?

Thanks.

Originally Posted by Maverik259

Is it a third party or BMW warranty? For example I bought the BMW platinum extended warranty additional 5yr/75k mile which is all I plan to own this car for and it was about $4k on a 2014 with 20k miles at the time. $100 deductible.

[positiveions]

Originally Posted by Xeno

I am going back to the dealer who sold me an extended warranty in 2012 for my 2008 X5, but am told that the rules have changed and now they will not sell to someone who is not "local" (CA vs OK).

Just be mindful you can negotiate the pric on those warranties. Finance managers make 25% commission off those warranties.

[Xeno]

Originally Posted by positiveions

Just be mindful you can negotiate the pric on those warranties. Finance managers make 25% commission off those warranties.

I will take a run at it but I just returned from Ghana and Nigeria and head to China in just over 24 hours. I get in at midnight and have fusion foot surgery the next morning.

I just need a clear landing to take another run at this and see where it lands.