[hristo104]

Any opinions on extended warranties for a 540I?

[LogicalApex]

Threads are bursting at the seams on the forum with opinions. Search will turn them up. The better question is for you. What are your questions?

[jsf721]

My 2 cents -Just make sure its through BWM as in their warranty not a 3rd party.

[hristo104]

Originally Posted by jsf721

My 2 cents -Just make sure its through BWM as in their warranty not a 3rd party.

Thank you

[OnlyGerman]

Originally Posted by jsf721

My 2 cents -Just make sure its through BWM as in their warranty not a 3rd party.

Why? BMW warranty sucks. Find a good third party.

[hristo104]

Originally Posted by LogicalApex

Threads are bursting at the seams on the forum with opinions. Search will turn them up. The better question is for you. What are your questions?

The question is if it's worth buying the extended warranty or not. This will be my daily driver and I am looking for a 2017 - 2018 car.

[LogicalApex]

Originally Posted by OnlyGerman

Why? BMW warranty sucks. Find a good third party.

What about it sucks? Price? Coverage? Claim payment? Duration?

It would be helpful to clarify so the OP has data points to work with.

Originally Posted by hristo104

The question is if it's worth buying the extended warranty or not. This will be my daily driver and I am looking for a 2017 - 2018 car.

You'll need to clarify what extended warranty you're considering. The intended length of ownership, annual mileage driven, price, term and mileage limits, exclusions, and warranty company to get any responses that are remotely helpful.

Warranties are about 50/50 on if they are used at all for buyers across the entire market and there isn't a lot of data to show of the half that manage to use it if their repairs exceed their warranty premiums.

The G30 is just starting to have cars dropping off warranty so there isn't a lot of data on the forum for how often people are hitting out of warranty failures on the G30.

In my case, I purchased the BMW extended warranty on my 530e for 7Y/100K miles as I tend to be a high mileage driver in normal times and I intend to own the car at least 7 years. With all of the advanced electronics in the car I anticipate most repairs to be expensive if they occur. The current market realities sealed the deal for me. But if you're a low mileage driver or now planning a longer ownership period it isn't as clear cut.

[cna90]

Originally Posted by hristo104

The question is if it's worth buying the extended warranty or not. This will be my daily driver and I am looking for a 2017 - 2018 car.

I'm in a similar boat as you are and I'm holding off for one reason.

If you buy a 2017-2018 CPO you'll have a bit of warranty left to check the car out before sinking money in it. It's been 2 months that I'm driving my 2017 540i; the warranty is ending in March 2022 and I'll have till then to decide. I'd like to make sure the car is in good shape and also figure out if I'll be keeping it or not.
When selling it no one pays for the warranty. I would buy it if I intend to keep the car for the length of the warranty. Give yourself the chance of getting to know your car before paying for warranty. Get comfortable with it and make sure there is no other options out there that makes you change your decision within the warranty time frame.

If I do I'll be buying the BMW warranty; horror stories I've heard from third party ones are far more worse than the BMW one.

At the end of the day, it's your money and at your discretion to spend it on your piece of mind. If a warranty gives you piece of mind (as much as I understand warranty/insurance company always wins) pay for it.

I haven't decided on mine yet, from what I see with chip shortages I will be keeping my car and if I do I'll drop the $5k for the next 2years probably.

Hope this helps

[TacticalGunnarM550]

Originally Posted by cna90

I'm in a similar boat as you are and I'm holding off for one reason.

If you buy a 2017-2018 CPO you'll have a bit of warranty left to check the car out before sinking money in it. It's been 2 months that I'm driving my 2017 540i; the warranty is ending in March 2022 and I'll have till then to decide. I'd like to make sure the car is in good shape and also figure out if I'll be keeping it or not.
When selling it no one pays for the warranty. I would buy it if I intend to keep the car for the length of the warranty. Give yourself the chance of getting to know your car before paying for warranty. Get comfortable with it and make sure there is no other options out there that makes you change your decision within the warranty time frame.

If I do I'll be buying the BMW warranty; horror stories I've heard from third party ones are far more worse than the BMW one.

At the end of the day, it's your money and at your discretion to spend it on your piece of mind. If a warranty gives you piece of mind (as much as I understand warranty/insurance company always wins) pay for it.

I haven't decided on mine yet, from what I see with chip shortages I will be keeping my car and if I do I'll drop the $5k for the next 2years probably.

Hope this helps

I recently purchased a 2018 CPO, my friend who's a finance manager sold me a roadvantage elite plan that's 100k additional miles for $3500. My cars good til 130k miles..

[Joe-BMW33]

My rule of thumb, never drive a BMW without a warranty. My preference is always BMW Factory or CPO. It's just easier and less risk. You may not be able to buy a BMW warranty though because you are either out of warranty or did not buy the car from a BMW dealer. In that case, look into Fidelity Platinum. No experience, but hear good things. Be ready to spend $3,000-$4,000 for anything with decent coverage and zero to minimal deductibles.

[TacticalGunnarM550]

Originally Posted by Joe-BMW33

My rule of thumb, never drive a BMW without a warranty. My preference is always BMW Factory or CPO. It's just easier and less risk. You may not be able to buy a BMW warranty though because you are either out of warranty or did not buy the car from a BMW dealer. In that case, look into Fidelity Platinum. No experience, but hear good things. Be ready to spend $3,000-$4,000 for anything with decent coverage and zero to minimal deductibles.

Yeah when i was looking at the bmw plans my friend who's the finance manager told me that bmw stamps their name on these…and they sell these plans at all their dealerships, BMW, Porsche, Toyota and several others. My girlfriends father actually got the same plan for his C4S and has been very happy with it.

[Joe-BMW33]

Originally Posted by TacticalGunnarM550

Yeah when i was looking at the bmw plans my friend who's the finance manager told me that bmw stamps their name on these…and they sell these plans at all their dealerships, BMW, Porsche, Toyota and several others. My girlfriends father actually got the same plan for his C4S and has been very happy with it.

If I had to go aftermarket, I would definitely buy it from the dealer where I got my car serviced because they have to stand buy it. Only dealers and lenders can sell most of the quality extended warranties. The only ones the consumer can buy directly from the underwriter are the spam calls we get endlessly.

[SteveinArizona]

Originally Posted by Joe-BMW33

My rule of thumb, never drive a BMW without a warranty. My preference is always BMW Factory or CPO. It's just easier and less risk. You may not be able to buy a BMW warranty though because you are either out of warranty or did not buy the car from a BMW dealer. In that case, look into Fidelity Platinum. No experience, but hear good things. Be ready to spend $3,000-$4,000 for anything with decent coverage and zero to minimal deductibles.

I have GEICO so I have mechanical breakdown insurance from it. That will cover me until I have finished my seventh year of ownership. It does have a $250 per incident copay but it is a great plan to protect against major problems.

[TacticalGunnarM550]

Originally Posted by SteveinArizona

I have GEICO so I have mechanical breakdown insurance from it. That will cover me until I have finished my seventh year of ownership. It does have a $250 per incident copay but it is a great plan to protect against major problems.

I reached out to them, unfortunately you have to purchase a new car for that.

[SteveinArizona]

Originally Posted by TacticalGunnarM550

I reached out to them, unfortunately you have to purchase a new car for that.

Yes. Sorry...I should have told you that.

[thecooltype]

Originally Posted by hristo104

The question is if it's worth buying the extended warranty or not. This will be my daily driver and I am looking for a 2017 - 2018 car.

Originally Posted by hristo104

The question is if it's worth buying the extended warranty or not. This will be my daily driver and I am looking for a 2017 - 2018 car.

Knock on wood this is the first extended warranty I have purchased and thinks I wasted my money... I have had my 2017 540 a year now and absolutely no issues....I have not used the warranty at all

[530iDriver]

Originally Posted by OnlyGerman

Why? BMW warranty sucks. Find a good third party.

No it doesn't. Perhaps your dealer sucks?

[steve090619]

Originally Posted by SteveinArizona

I have GEICO so I have mechanical breakdown insurance from it. That will cover me until I have finished my seventh year of ownership. It does have a $250 per incident copay but it is a great plan to protect against major problems.

Originally Posted by SteveinArizona

I have GEICO so I have mechanical breakdown insurance from it. That will cover me until I have finished my seventh year of ownership. It does have a $250 per incident copay but it is a great plan to protect against major problems.

I put 2 claims in under geico mechanical. Very good

[Joe-BMW33]

Originally Posted by steve090619

I put 2 claims in under geico mechanical. Very good

How did you go about buying Geico? Through the dealer or lender or directly?

EDIT - did a little homework, do you have to have Geico normal auto insurance to purchase the mechanical? Appears to be the case or you have to buy it from a dealer. Clicking through their website seems targeted to auto insurance with mechanical as an add on,

[TacticalGunnarM550]

Originally Posted by Joe-BMW33

How did you go about buying Geico? Through the dealer or lender or directly?

EDIT - did a little homework, do you have to have Geico normal auto insurance to purchase the mechanical? Appears to be the case or you have to buy it from a dealer. Clicking through their website seems targeted to auto insurance with mechanical as an add on,

You can only purchase it on a new car for the first 16 months.

[steve090619]

Originally Posted by Joe-BMW33

How did you go about buying Geico? Through the dealer or lender or directly?

EDIT - did a little homework, do you have to have Geico normal auto insurance to purchase the mechanical? Appears to be the case or you have to buy it from a dealer. Clicking through their website seems targeted to auto insurance with mechanical as an add on,

Originally Posted by Joe-BMW33

How did you go about buying Geico? Through the dealer or lender or directly?

EDIT - did a little homework, do you have to have Geico normal auto insurance to purchase the mechanical? Appears to be the case or you have to buy it from a dealer. Clicking through their website seems targeted to auto insurance with mechanical as an add on,

Geico my car insurance, it's an add on. Car must be new. Pay for it from day 1, so Geico wins on first 4 years. Have it on my Lexus also

[SteveinArizona]

Originally Posted by steve090619

Geico my car insurance, it's an add on. Car must be new. Pay for it from day 1, so Geico wins on first 4 years. Have it on my Lexus also

Yes...but the annual cost is so low that it still makes sense. GEICO probably wins on folks who trade in or whose leases end before the fifth year.