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      08-12-2018, 01:18 PM   #1
cfm56d7b
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Mechanical breakdown protection from credit union

Well - the factory warranty will expire in 6 months. My credit union offers mechanical breakdown protection policy underwritten by Interstate National. After a few phone calls, I finally received a contract sample with all the fine print. No surprises.

The cost is $3K for 7 years (3 more years after factory warranty expires) or 75K Miles.

Did anyone purchase this or similar policy? Any feedback?
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      08-12-2018, 02:17 PM   #2
tntp
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I have the same thing mechanical breakdown protection policy with Geico when since buying new. But it is an add-on for about 150-200$/year starting year 1, not year 4-5 like yours. If you have a loaded X5 35i or 50i with more things to break, then $3k for 3 more years seems to be a good deal, but if you have a stripper one, just put the money in the bank just in case!
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      08-12-2018, 04:27 PM   #3
cfm56d7b
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It is indeed fairly well equipped. $3K might be worth it.

Did you have a chance to use the mechanical breakdown protection yet?
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      08-12-2018, 04:58 PM   #4
CatalinP
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Chance?
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      08-13-2018, 01:04 AM   #5
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Do you mind sharing the sample contract and name of the credit union here?
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      08-13-2018, 02:34 AM   #6
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Just purchased a 48 month/50k mile for $1755 through my credit union. 48 months and 50k from the current date and mileage when I purchased it which was 49,976 miles. It's an "MPower+" premium protection contract which is an extension of the manufacturer's warranty (they also have plans that cover less). This warranty only lists what is NOT covered rather than what is covered.

Additional plans offered were:
36/50k = $1455
60/50k = $2112
48/75k = $2383
60/75k = $2667
72/75k = $3443

All have a $100 deductible.
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      08-13-2018, 10:36 AM   #7
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Please share credit union name and the company providing the contract, along with a sample contract, if you have one. Will help members looking for extended warranties.
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      08-13-2018, 12:34 PM   #8
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Quote:
Originally Posted by cfm56d7b View Post
It is indeed fairly well equipped. $3K might be worth it.

Did you have a chance to use the mechanical breakdown protection yet?
Not yet since it is still under original manufacturer warranty until Sep 2018, so basically I prepaid about $700 in the last 4 years before I can use the Geico one. This makes sense and may be cheaper than buying the protection now. I hope they dont jack up the premium from now.
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