01-04-2022, 01:42 AM | #1 |
Lieutenant
137
Rep 560
Posts |
2018 530e - 32000km - Should I get BMW extended warranty?
Hi Guys 'n Gals,
I have a 2018 530e, that's new to me. Picked her up in Vancouver a few weeks ago wtih 26,000km and now she's at 32,000. I drove her 4,500km home to Toronto, and then couldn't stop driving some more. The warranty is up in 2 weeks and I have the option to purchase another 3 years up to 80,000 or 100,000 (can't recall specifics) for around $4,700 Canadian. For you Americans: Car is at 20000miles and I can purchase 3 year warranty for up to 50-60K miles, for around $3,700USD. The hybrid battery has another 4 years already for free, but I'm nervous about everything else in this thing that might break. I'm worried about the fine-print surrounding the remaining 4 year EV drive train warranty, and everything else from massaging seats, to seat belt tensioners and comfort closing doors. My guess is that it's not worth the price, and I should roll the dice but curious what you guys think. Thanks. |
01-04-2022, 09:45 AM | #2 | |
Colonel
1174
Rep 2,895
Posts |
Quote:
|
|
Appreciate
1
The-Traveler137.00 |
01-04-2022, 12:56 PM | #3 |
Occasionally frequent poster
2994
Rep 2,742
Posts |
I'm with Opie. When you consider co-pays, deductibles, exclusions and all that, especially since your car has such low mileage (kilometerage?) odds are that you won't get your money's worth.
However, there is a cost to peace of mind that can't be measured, and if you cannot or will not DIY, and/or don't have a trustworthy independent BMW specialist convenient, then the factors change. Still... they make money on these warranties. There wouldn't be a profit in there if everyone had claims for more than the cost of the warranty.
__________________
Current inventory:
F22 & G05 Cadillac CT5-V Blackwing w/3 pedals Past: E24,E28(3),E34,E36,E37,E38(2),E39(4),E46,E89,E92 (obviously),F01,F06,F10,F30,F87,G12,G30(2),G82(2) |
Appreciate
1
The-Traveler137.00 |
01-04-2022, 02:33 PM | #4 |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
Like all things... It depends...
You have to factor in how many miles you drive. The lower mileage you drive the less likely you are to make use of the warranty. If you have a trusted independent mechanic or wrench yourself you may be able to come out much cheaper on repairs than you would at the dealership. But you're in a High Cost of Living market like I am so you may find it challenging to come out ahead in this area. I purchased my car new, am a high mileage driver, and plan to keep it 7 years minimum. In my case the warranty was an OK idea. Saves me from having to eat that depreciation cake again too soon as I don't lease. But you purchased your CPO or used which saved you a lot on the deprecation side of the puzzle. You can take a prudent path and look at it this way... The warranty is $4.7K so if you start to accrue repair costs that get close to that (or exceed it) you can dump the car and get into another one. Treating that warranty price as your "ceiling". If you never hit it you keep the money and if you do you jump to a newer car a cut your losses before they get out of hand. For me, that prudent path was a risky one. I made my decision pre-COVID market insanity. So I might have went with my prudent option if it were today. But selling a high mileage German car you get a beating on the sell price. So the small cost of the warranty to cap my losses was a sounder choice at the time then getting brutalized trying to dump it and rammed again buying and eating depreciation again. Whatever choice you make... Make sure it is one you're happy with! Last edited by LogicalApex; 01-04-2022 at 02:40 PM.. |
Appreciate
2
The-Traveler137.00 itzryyster36.50 |
01-04-2022, 02:51 PM | #6 |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
|
Appreciate
1
The-Traveler137.00 |
01-04-2022, 05:32 PM | #7 |
Brigadier General
3086
Rep 4,210
Posts |
Won't work for the OP but I am a bit nervous about having both a BMW electric system and a BMW ICE. But my insurance carrier is GEICO so I have its mechanical breakdown insurance package that will cover me to a total of 7 years, 100K miles.
|
Appreciate
1
The-Traveler137.00 |
01-04-2022, 05:48 PM | #8 |
Lieutenant
137
Rep 560
Posts |
You don't count, your car is a baby.
|
Appreciate
1
LogicalApex2016.50 |
01-04-2022, 05:59 PM | #9 |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
|
Appreciate
0
|
01-04-2022, 06:01 PM | #10 |
Major
329
Rep 1,024
Posts |
2017 530e here at 60k KM today bought with 48k KM Dec 2020.
Based on my current experience just out of warranty last year at purchase I would go with it. I may just be unlucky but I spent a lot to solve weird issues that BMW couldn't even figure out or if I let them work on it would have got out of hand quickly with their lack of knowledge. If you end up in such a situation a warranty covering their work and module changes etc is worth a lot. If it includes wheel cover for accidental damage it would also be a big bonus to me or even if it covers lacquer peel on alloys not damaged since new (as it's a known BMW manufacturing fault) that shows up usually around 3-4 years. I have had to contend with a lot of issues from Grill Vent failure to suspension VDC models and control issues including modules replaced and battery changed for the TCB and auxiliary battery. Also alloys badly manufactured and non centric which I had to change as they refused under warranty. That said I did a lot of the work myself and bought parts second hand but still spent 8k myself finding out what was wrong by trial and error. Would have been 15k at BMW. Would be great if a BMW extended warranty had covered even 80% of that cost. Also make sure it covers pixel failure on screens. |
Appreciate
0
|
01-04-2022, 10:28 PM | #11 | |
Lieutenant
137
Rep 560
Posts |
Quote:
|
|
Appreciate
0
|
01-04-2022, 11:15 PM | #12 |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
In the US BMW has three levels of extended warranty, but none are as comprehensive as the new car factory warranty. So definitely be sure you understand the limitations of what you are buying.
|
Appreciate
0
|
01-04-2022, 11:32 PM | #13 |
New Member
11
Rep 23
Posts |
I have a 2018 530e. Like you, I bought it on the other side of the country, and enjoyed every single mile getting to know it as I road tripped back. I still make up excuses just to go out and drive it. Absolutely love the car.
I’ve never ever given so much as one second’s worth of attention to the dealer’s extended warranty sales pitch - until now. Our cars are beautiful, but are very complex. There’s basically two engines, and a control system to share them. And gobs of luxury stuff to break. While it was in warranty, I had the fuel tank pressure relief valve go bad. Local dealer fixed it under warranty. Then, one week after warranty expiration, the battery charger KLE module went bad. That’s a couple K. Not so nice. Service advisor at the dealership advises that with a 530e, she recommends an extended warranty - and she’s not trying to sell me one. Apparently, the electric motor is something like $6k+ to replace. I’ve no idea if that is a frequent problem (the fuel tank valve is). I’ve looked at getting an extended warranty - it’s about $5200. I haven’t pulled the trigger on it. I’ve had to make an expensive repair, but maybe that will be it. Maybe not. Probably not. I still love the car. |
Appreciate
0
|
01-04-2022, 11:43 PM | #14 | |
Lieutenant
137
Rep 560
Posts |
Quote:
|
|
Appreciate
0
|
01-05-2022, 09:18 AM | #15 | |
Brigadier General
3086
Rep 4,210
Posts |
Quote:
|
|
Appreciate
2
LogicalApex2016.50 The-Traveler137.00 |
01-05-2022, 10:07 AM | #16 | |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
Quote:
BMW covers the battery for 8Y/80K miles universally, but the rest of the coverage will vary quite a bit based on your state. With only PA, DE, and WA listing specifically what parts are covered in the warranty booklet. Since you are in Canada I would check the warranty booklet from BMW to see if it details exactly what parts they consider to be in the hybrid drivetrain to be sure you feel the 8Y coverage is adequate. There are open questions in the community about how much additional stress the hybrid nature of the car adds to the picture. And I don't think we will have a solid idea for a bit as the initial cars are just now entering the period outside of the base factory warranty. Did you purchase or lease the car? Are you OK dumping the car and jumping to something else if you get a hefty repair bill? Or would you have trouble cutting your losses and would be helped by backstopping those losses with the warranty? |
|
Appreciate
1
The-Traveler137.00 |
01-06-2022, 09:45 PM | #17 |
New Member
11
Rep 23
Posts |
|
Appreciate
0
|
01-07-2022, 01:53 AM | #18 |
Lieutenant
179
Rep 547
Posts |
Just to chip in here, the nasty catch phrase I don't like in warranties is the exclusion of wear and tear clause . Sounds fine until you come to claim then what you think is a warranty claim becomes fair wear and tear and there is no appeal against that decision except paying for expert opinion and claiming through the courts with that opinion to back you.
|
Appreciate
0
|
01-08-2022, 12:39 PM | #19 |
Lieutenant
137
Rep 560
Posts |
I've decided to purchase the warranty from BMW. This is what my mechanic said:
"I'm shooting my self in the foot but I have to be sincere. Definitely worth it, I personally repaired nightmares on g30s and f15s lots of issues with electrification, charging is also one of them, many problems with modules that are $5-25k , also high voltage heaters , hv electric ac compressors, problems motors, the list goes on." Will let you guys know if I end up using it over the next 3 years. |
Appreciate
0
|
01-10-2022, 12:39 PM | #20 | |
Captain
158
Rep 866
Posts |
Quote:
|
|
Appreciate
0
|
01-10-2022, 01:58 PM | #21 | |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
Quote:
They've had some pretty painful issues that I've seen discussed a fair bit on the forums like the timing chain issue on older generations and etc. Many people swear by having having a warranty with BMW due to the risk of frequently high bills (which has earned the infamous nickname "Break My Wallet"). I'm not suggesting that BMWs are unreliable or that you need to have an extended warranty, but I just think if you're concerned about reliability with the brand you don't need to limit that to EVs. |
|
Appreciate
0
|
01-10-2022, 03:29 PM | #22 |
Colonel
2017
Rep 2,932
Posts
Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Farmington, NY
|
I got a pretty lengthy contract booklet from BMW (7 months after purchasing my BMW Extended Warranty).
If I get some time share the entire booklet I will, but I'd say the limitations were much longer than I expected... Especially compared to my old Mercedes plan. But the limitation I thought was the most odd... They have an aggregate limit clause that allows them to wash their hands of the warranty if the total repairs exceed either your vehicle purchase price or the current NADA value at the time of a breakdown -- whichever is lower... Whereas I would have expected the plan to cover all repairs for my car during its covered term since it is OEM provided... To be honest, the reality that they added an aggregate claim limitation (which I didn't spot in my Mercedes Extended Warranty) makes me think it is probably a good idea to get an extended warranty of some kind. There has to be a reason they are trying to limit their maximum payouts on an OE provided plan that only last up to 3Y/100K miles on a new car. Also found it odd that emissions related parts are excluded since the warranty term is longer than the emissions warranty by mileage... Last edited by LogicalApex; 01-10-2022 at 03:48 PM.. |
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|