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06-24-2015, 04:12 PM | #1 |
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Expired Warranty: 3rd party warranty options?
Hi Everyone -
I am about to purchase a 2011 BMW M3 convertible with all options included and at 50k miles. Factory warranty expired in May, 2015. No extended warranty in place. Will buy the car at Carmax next week when it arrives and am wondering if I should get an extended warranty and would love to ask for your guidance. 1) BMW Extended 4-year 100k bumper to bumper (supposedly like a new-car warranty. $6,800 Also, BMW wants to completely checkout the car first and have me pay for everything that needs to be fixed to get it to certified status and then determine if I qualify for a warranty. Sounds ridiculous? 2) Carmax Extended Warranty: 5-year 100k or 125k (preferred?) but has lots of exclusions but does that matter?. $5,400 Link to Carmax warranty page: http://www.carmax.com/enus/maxcare/d...reL01Home_Page Questions: 1) Do I need the extended warranty? I'll be driving 20k miles per year 2) Are there other warranty options that I should explore that might be better? 3) What "usually" goes wrong at this point in time where the car is at (living in Texas, no snow, ice, etc.) 4) What are the most expensive costs that I should plan for over the next four to five years up to 125k miles? 5) I am thinking the Carmax deductible at $200 would be fine. It's really about covering big expenses. 6) What's the cost for things like break rotors and pads and the usual work that needs to be done like services? Anything else I am missing? I just sold me 2009 335i Dinan Stage II and can't wait to get this one. :-) The handling is going to be so much better and the torque line is nice and even. Thanks everyone! Michael |
06-24-2015, 04:55 PM | #2 |
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Do some searching man. There are a TON of threads discussing common issues with this car, some even on the first page. (Rod bearings, icv, AC Evap, throttle actuators etc...)
There are also lots of threads popping up on these aftermarket warranties. I personally went with EasyCare. It was the best value for the peace of mind, and I actually got to go through a "mock" claim with one of their higher ups thanks to the finance manager at fields BMW. One company you will see pop up around here is wanted auto protect. They will sell you a 5/100k for less than 3k. Who knows if they will pay out. Disturbed seems to be their spokesperson on here (he's had some good experiences with them) but he is literally the only person who has a claim review on the internetz. Every other single review is about their buying experience from wanted. There are a TON of fly by night companies out there. BEWARE. Please. |
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06-24-2015, 04:59 PM | #3 |
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Try a simple search! But beware, you're going to find a ton of conflicting answers.
For example, there will be people who swear you need a warranty, and other that dont. People who say change your bearings at 50k miles, and some are at like 100K on OEM bearings. Its confusing. It really is. |
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06-24-2015, 07:34 PM | #7 |
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The Carmax warranty doesn't have a lot of exclusions that are not pretty standard across the board such as wear and tear on interior items.
I would easily go with the warranty from Carmax as apposed to any 3rd party warranty.
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06-24-2015, 07:56 PM | #8 | |
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06-24-2015, 08:26 PM | #9 |
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i opted for the carmax warranty. my evaporator went out within 1 year and they covered the $3k+ repair with no questions asked. it seems the price of the warranty has gone up though, mine was about $3k with similar mileage.
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06-24-2015, 10:27 PM | #10 |
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I went with the Platinum level warranty from a company called National Auto Care. The warranty is a 3/50k warranty. It already paid itself off after 1 1/2 years. I've only had one claim but it was over 4.5k the company paid without any problems and the SA at the dealership mentioned that they were easy to deal with. I would highly recommend getting some kind of extended warranty. The throttle actuators like to go bad on these cars and it's not a cheap fix. Oh and the DCT trannies like to leak also which is not cheap to fix either.
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06-24-2015, 11:45 PM | #11 |
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I just bought a E86 from Carmax for the wife and opted for their warranty. Seemed pretty decent, but definitely mixed reviews out there. All I know is we have a 2006 Z4 that will have warranty until 2020 (upto 125K miles). Hard to beat that piece of mind.
I am not sure what BMW's policy is, but I would go ahead and buy the warranty from Carmax and then have BMW do the inspection to see what would need to be fixed. Hopefully some of those items would be covered by Carmax's 30 day full warranty. At that point I would re-evaluate the warranty options and if you qualify. If at that point the BMW is a better all around package for about the same cost with no major fixes out of your pocket are required I would return the Carmax warranty (pro-rated refund available) and pick up the warranty with BMW. Hope that helps. I am going to go back to researching my next car (M3 is looking to be a good possibility in a year or so). Which I will likely buy from Carmax with a warranty. P.S. Get your oil changed right away after you buy the car from Carmax. From what I have heard and understand they perform an oil change on all of the cars and they use the same type of oil (i.e. cheap) for all of the cars. Last edited by spiceyxi; 06-24-2015 at 11:52 PM.. |
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06-25-2015, 12:04 AM | #12 |
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Op make sure you look at exclusions list on warranty. A lot of warranty companies will not cover certain parts on cars. For instance on our 135i the extended warranty did not cover a low pressure fuel pump. I don't remember the name of the company on that warranty but it's very common for companies to do that. Do your homework and read the fine print.
Good luck.
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07-07-2015, 09:40 AM | #15 |
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Thanks Everyone...
Thank you everyone for the great feedback. I did quite a bit of research before I posted and became frustrated by the various options. Hence, I posted here.
I ended up not getting the car from CarMax. It was shipped from Ohio and it was full of scratches, dings and the interior was pretty bad. Instead, I got a 2013 M3 Convertible from my local BMW dealer last week. Got a slightly below retail price with the extended warranty and I got the maintenance plan as well so I am not worried at this point. The car is in great condition and I love it. Doesn't have the initial torque of my prior 335 but it's a much better drive overall and a lot more fun. Thanks again everyone. Appreciate all your insights... :-) |
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08-11-2015, 09:22 AM | #17 |
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2011 M3 DCT Coupe
I just purchased a used 2011 Coupe a few months ago and have started researching extended service/warranty plans.
Carchex claims to be providing an Assurant policy. This is supposed to be similar to an OEM bumper to bumper warranty and includes performing any factory service bulletins. Product Name: 2013 U Titanium Coverage Term: 60 months / 50,000 miles Deductible: $100.00 Waiting Period: 30 days & 1000 miles Expiration Date: 8/11/2020 or Expiration Odometer: 79,700 miles Cost $4930.56 Does anyone have comments or feedback regarding their experience with Carchex and does this seem like a reasonable offer? I am requesting quotes from USAA, Easycare and Zurich as well. Thanks - |
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08-11-2015, 12:18 PM | #19 | |
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08-11-2015, 12:25 PM | #20 | |
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08-11-2015, 01:08 PM | #21 | |
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USAA seems kind of high and Carchex even offered me a $400 rebate at the end of the program so their Titanium plan actually comes down to $4536. I still need to get an estimate from Easycare. I filled out their online quote but no one has contacted me yet. I will definitely be reading over the exclusions and ask about the DCT situation. |
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08-12-2015, 04:03 PM | #22 |
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I just finished reading all the exclusions and pushed on the sales person from Carchex (Fidelity). The titanium package they were trying to sell me DOES NOT cover the DCT gearbox.
Funny that this warranty is backed by Assurant, the same underwriters for USAA. I need to inquire regarding USAA's Extended Vehicle Protection plan and determine if it covers DCT. I emailed Easycare again and requested that they contact me. |
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