02-15-2016, 06:44 PM | #1 |
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Extended Warranty Refund?
When I purchased my '15 M3, I bought the 6yr/100k warranty for $3,490.00 (I believe I got the gold package). After having the car a year (and still loving it, btw!), I don't realistically see myself keeping it beyond the standard 4yr/50k warranty + maintenance so that I can get a decent amount out of the car when it comes time to sell. I believe that now is a good time to get a refund, as it was indicated to me that I'd get roughly $3,000 back. I also doubt that I'd be able to charge an additional $3,000 when I sell the car at the 4yr/50k mark with the extended warranty to justify keeping it. Are these correct assumptions? Anyone with real-world experience on this subject?
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02-15-2016, 06:55 PM | #2 | |
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Quote:
If ur not going to use it get a refund
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02-15-2016, 07:04 PM | #3 | |
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As for your advice, that's definitely inline with my thinking - just want to confirm before making a final decision.
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02-15-2016, 07:06 PM | #4 |
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Sounds like a fair deal to me. I didn't even know you could request a refund a year after purchase. I would definitely go for it if you don't anticipate to keep your car for more than 4 years, don't expect to get that value back when reselling the car.
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02-15-2016, 08:03 PM | #7 |
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It's my understanding that you should get a full refund, since the amount you paid covers parts/labor for 2 years after the warranty ends. You haven't started the term you paid for. The main benefit of purchasing it early is to take advantage of the "cheaper" cost and being able to roll it into your monthly payments if you're financing. Unless I'm missing something else...
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02-15-2016, 08:06 PM | #8 |
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All good info, I'll have to pursue a full refund. I originally thought the same (i.e., full refund), but wasn't aware of any fine print that would state otherwise (i.e., prorated from the get-go).
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02-15-2016, 08:49 PM | #9 |
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that seems like BS since you really paid for just 2 years/50k miles.
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02-16-2016, 07:41 AM | #11 | ||
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I would read the contract you signed and the paperwork that came with the warranty but it looks like this might be it (quick search)? -
http://assets.cobaltnitra.com/teams/...146efa6b30.pdf Quote:
EDIT - Just noticed you are in Texas - Quote:
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02-16-2016, 10:14 PM | #12 |
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I sold my '15 m3 after 10mos of ownership. I had the 6yr warranty... got the prorated amount back. on my '16 m3, I declined the extended warranty to save myself hassle down the road (although it really was a pretty smoke process)
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02-17-2016, 06:47 AM | #13 | |
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That's why you shouldn't buy the Extended Warranty until you're close to your Original Warranty expiring. |
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11-16-2017, 01:52 PM | #14 |
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09-20-2018, 07:35 AM | #16 |
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10-14-2018, 02:03 PM | #17 |
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I believe I received it through BMW Finance:
https://myaccount.bmwfs.com/contactus "Your account information is accessible 24/7 at (800) 578-5000. For international calls, dial (614) 718-6350. BMW Customer Service is available Monday to Thursday 9 a.m. to 9 p.m. ET or Friday 9 a.m. to 6 p.m. ET."
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11-01-2018, 12:23 PM | #18 |
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11-01-2018, 11:50 PM | #19 | |
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I'm still waiting for mine from a Chevy dealership after trading in a 2018 ZL1.
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11-23-2020, 04:22 PM | #20 |
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Doing this as we speak. Will let you guys know how it goes. I have a Gold Warranty good through June of 2023 and trading in 330i to get M340. Standby for info on what happens.
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11-23-2020, 05:01 PM | #21 |
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Was just told by BMW Financial that the coverage would be refunded after being pro rated but it must be done through the dealer from which it was purchased and it can not be rolled over to any other vehicle.
Minimally there are two transactions that will have to take place to solve this.
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Last edited by MBM340; 11-26-2020 at 12:10 AM.. |
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11-24-2020, 09:18 PM | #22 |
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- so the latest update is they will refund the majority of the extended warranty. Will let you know once we complete the purchase transaction.
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