[Joe Shmoe]

Hello all. I've been lurking here for quite a bit and finally joined not too long ago.

I have a 2018 M550iX in Alpine White. I got it as a lease trade-in around 4/21 with 30.5k miles. I now have have 41k, but I have experienced some warranty issues: T-stat leaked and took out 2 or 3 ECU's(computers?), then the entire digita gauge cluster with speedometer etc, shifted to the left by about an inch(had to be replaced), and just recently I had to have the turbo coolant lines replaced/upgraded. Luckily all under warranty! My CPO warranty expires at the end of March and I'm not comfortable not having a warranty after having these issues.
The dealer quoted me ~$5400 to extend the CPO for another 2 years, and about $5700 for a third party warranty that covers a few more items but no loaner. The loaner is not that big of a deal.

I've read the thread about 3rd party warranties. It seems like Route 66 is the way to go. I'm in Long Island, NY....anyone have recommendations for what credit union offers it? I'm curious as to what they would quote me. I looked at Hanscom and PenFed but I couldn't find info on the warranty.

Thanks.

[Sam_M550i]

Originally Posted by Joe Shmoe

Hello all. I've been lurking here for quite a bit and finally joined not too long ago.

I have a 2018 M550iX in Alpine White. I got it as a lease trade-in around 4/21 with 30.5k miles. I now have have 41k, but I have experienced some warranty issues: T-stat leaked and took out 2 or 3 ECU's(computers?), then the entire digita gauge cluster with speedometer etc, shifted to the left by about an inch(had to be replaced), and just recently I had to have the turbo coolant lines replaced/upgraded. Luckily all under warranty! My CPO warranty expires at the end of March and I'm not comfortable not having a warranty after having these issues.
The dealer quoted me ~$5400 to extend the CPO for another 2 years, and about $5700 for a third party warranty that covers a few more items but no loaner. The loaner is not that big of a deal.

I've read the thread about 3rd party warranties. It seems like Route 66 is the way to go. I'm in Long Island, NY....anyone have recommendations for what credit union offers it? I'm curious as to what they would quote me. I looked at Hanscom and PenFed but I couldn't find info on the warranty.

Thanks.

You have to go through a credit union, no other way.

[Joe Shmoe]

Originally Posted by Sam_M550i

You have to go through a credit union, no other way.

Yes. My third paragraph asked for recommendations in NY area.

[LogicalApex]

Originally Posted by Joe Shmoe

Yes. My third paragraph asked for recommendations in NY area.

You can reach out to PenFed.

https://www.penfed.org/auto/extended-warranty

They are open to anyone.

[NVRfollo]

Originally Posted by LogicalApex

You can reach out to PenFed.

https://www.penfed.org/auto/extended-warranty

They are open to anyone.

Do you have this and have you had to make a claim?

[peteinpa]

I am looking at Route 66 Easy Street policy through PenFed. They cover major components but do have exclusions so read carefully. Joe-BMW33 just bought one through a different CU and was able to get an amendment that increased the coverage to include some of the electronics. I am still debating what to do since PenFed does not offer the additional coverages as per the Route66 rep.

[Sam_M550i]

I have route 66 and just last month had a claim. No issues and their coverage surpasses any BMW extended warranty.

[peteinpa]

Originally Posted by Sam_M550i

I have route 66 and just last month had a claim. No issues and their coverage surpasses any BMW extended warranty.

Sam what CU did you purchase through?

[G30 B58]

This is the first I'm hearing that a 3rd party warranty such as Route 66 must be purchased through a credit union and I'm like WTF?

Why is this?

[BWilson263]

Originally Posted by Sam_M550i

I have route 66 and just last month had a claim. No issues and their coverage surpasses any BMW extended warranty.

How much did you pay for the warranty and for how many years or miles?

[LogicalApex]

Originally Posted by NVRfollo

Do you have this and have you had to make a claim?

I do not. I considered it as it offers a great level of protection at a really amazing price and people speak highly of it, but when I was shopping Route 66 let me know they don't cover PHEVs. So I went with the BMW ESC.

Originally Posted by G30 B58

This is the first I'm hearing that a 3rd party warranty such as Route 66 must be purchased through a credit union and I'm like WTF?

Why is this?

Why is this weird? There are Extended Warranties and other car protection products you can only buy via a dealer so this isn't unusual. Not all car protection products are sold directly to the general public... Hell Geico offers one (called Mechanical Breakdown Protection) that is only available if you're a Geico policy holder...

[Sam_M550i]

At the time I purchased the car, I went through Hanscom Federal Credit Union. It costed me around $2800 for 7 years/120k miles.

[peteinpa]

Originally Posted by Sam_M550i

At the time I purchased the car, I went through Hanscom Federal Credit Union. It costed me around $2800 for 7 years/120k miles.

Thanks. Assume it is the Easy Street policy. Did you get the amendment for additional coverages such as electronics or did you go with the basic warranty?

[G30 B58]

Originally Posted by LogicalApex

Not all car protection products are sold directly to the general public...

I just think it's odd to narrow your customer base like that.

Not everyone has or uses a CU.

[Sam_M550i]

Originally Posted by peteinpa

Thanks. Assume it is the Easy Street policy. Did you get the amendment for additional coverages such as electronics or did you go with the basic warranty?

I went for the full coverage, including electronics.

[peteinpa]

Originally Posted by Sam_M550i

I went for the full coverage, including electronics.

Thanks. I think it is CU specific, cannot get the full coverage through PenFed for some reason they don’t appear to offer it. I may try again.

[Joe-BMW33]

Pete, Sam's is the same as mine with the Amendment. Sam helped me out with route 66 when researching. We both went through HFCU. I paid $3,114 for 7yrs/120k.

@G30 B58 - In terms of it only sold through financial institutions or dealers, does not seem odd to me. This is their distribution channel and it make total sense for an extended warranty company to exclusively sell through channels where people are buying new cars and financing them. If they were to sell directly to consumers, they are competing with the lucrative channels they established. It's not rocket science, not to mention, the banks get a cut and are incented to sell.

[Greywall]

Can anybody join HFCU or do you need meet certain requirements?

[Joe-BMW33]

Originally Posted by Greywall

Can anybody join HFCU or do you need meet certain requirements?

You need to be a member which is as simple as opening a $25 savings account.

[adhrp]

When I contacted Route 66 to ask which CU sells their warranty where I live, they directed me to a specific CU and they're the only ones who sell it here. It is a good idea to contact Route 66 to inquire where to purchase in your city/state.

[HerkHealer]

I've been a PenFed member for over 25 years. Just off the phone with them.
PenFed DOES offer Route66 Premium coverage that will cover everything, but they only go to 5 yr/100k miles. Roughly the same cost as Hanscom too at $2900.

My warranty runs out in October, and I will be purchasing extended via Hanscom to get the extra 2 years.

[Mandingo9]

Originally Posted by Greywall

Can anybody join HFCU or do you need meet certain requirements?

Yes, you must be hung like a tuna can, 8”inch min…….. circumference