F30POST
F30POST
2012-2015 BMW 3-Series and 4-Series Forum
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BMW 3-Series and 4-Series Forum (F30 / F32) | F30POST > 2012-2019 BMW 3 and 4-Series Forums > General F30 Sedan / F32 Coupe / F36 Gran Coupe Forum > Extended Warranty Question - Route 66 and others
proTUNING Freaks
Post Reply
 
Thread Tools Search this Thread
      05-16-2017, 12:47 PM   #23
bavarianride
Major General
1470
Rep
5,030
Posts

Drives: bimmer
Join Date: Feb 2013
Location: northern california

iTrader: (0)

Quote:
Originally Posted by Kafkaesque328 View Post
Extended warranties are like any insurance - you will always pay out more than you get back and you never 'beat the house'.
Extended warranties are extended service contracts(ESCs), and many people think those are same as new car bumper-to-bumper warranty. ESCs work a bit worse than auto insurance, namely, there is usually a maximum limit of lifetime payout that is set at market value of the car during the repair. So if the car now is worth, say, $10k, and there was a previous repair for $2k, the current repair won't be paid more than $8k.

In contrast, for an auto insurance policy, any damage is limited by current market value. E.g. if car is worth $10k, and previous claims were $2k, any current repair is still limited at $10k(or some % of that before the car is totaled).
Appreciate 0
      05-16-2017, 01:06 PM   #24
GCinFLA
Banned
United_States
284
Rep
1,015
Posts

Drives: BMW
Join Date: Dec 2016
Location: FLA

iTrader: (3)

Quote:
Originally Posted by Kafkaesque328 View Post
15% less of what? I can't control savings account rates? Can you? Do whatever you want - put the money in a CD, a mutual fund, your Roth, whatever, you are missing the point in an epic way here. What are you even saying? Jesus, I am arguing online with a retired person in the Everglades somewhere. I believe in paying myself first, not companies like Route 66 or BMW for overpriced extended warranty bundles sold to lemmings and rubes en mass who have irrational fears about catastrophic breakdowns. Again, you are basically speaking total gibberish. I guess the big, huge, obvious points I have been making continue to elude you... Or maybe they haven't so all you can do is call me out on not being a walking encyclopedia of online savings account rates. Gee whiz, you can use Google, congratulations. In case you missed it, here it is again:
  • THESE PRODUCTS EXIST TO MAKE MONEY FOR THE COMPANIES THAT OFFER THEM. BREAD AND BUTTER FOR DEALER FINANCE DEPARTMENTS.
  • YOU ALMOST NEVER BEAT THE HOUSE.
  • PRE-PAYING FOR WARRANTY WORK THAT MAY NEVER ACTUALLY BE NEEDED IS EXPENSIVE INSURANCE.
  • YOU WILL ALMOST ALWAYS BE BETTER OFF TAKING X AMOUNT OF MONEY & SETTING IT ASIDE IN BASICALLY ANY SAVINGS VEHICLE, FOR A 'RAINY DAY' VS. BUYING AN EXTENDED WARRANTY.

Thats it, I'm out. Keep being the schmuck at the carnival who loses money at the shell game and I'll be on my merry way. Enjoy your copy of AARP magazine, bud.
As long as I keep winning the game, I will.

You cannot even understand that 1.05% is 15% more than 0.90%.

Such a financial wizard.
Appreciate 0
      05-16-2017, 02:42 PM   #25
RPM90
Major General
890
Rep
7,047
Posts

Drives: 340i M-sport AT
Join Date: Mar 2006
Location: Chicago

iTrader: (1)

Quote:
Originally Posted by GCinFLA View Post
It's not 2008.

And You have listed banks that don't even exist any longer. I know. I had an ING Orange Account. No more.

Considering you clearly have not followed your own advice, I won't be following your mythical advice either.

Also, seem you did not read the "fine print" in Post 1 either.

Another strike....
Did you come seeking some help and advice, or did you want to start an argument with a forum member who is trying to give you some of his personal experience, so that you may learn something from it?
Appreciate 0
      05-16-2017, 02:45 PM   #26
GCinFLA
Banned
United_States
284
Rep
1,015
Posts

Drives: BMW
Join Date: Dec 2016
Location: FLA

iTrader: (3)

Quote:
Originally Posted by RPM90 View Post
Did you come seeking some help and advice, or did you want to start an argument with a forum member is simply trying to give you some of his personal experience, so that you may learn something from it?

You are starting to sound like a know-it-all now, and it's not amusing.
People who really seek help or advice don't then start arguing with people who are offering it.


Look at the original question.

You or the other poster have only jacked the thread, not answered ANY QUESTIONS.

If I have done 8 weeks of research and come here after deciding to purchase a F30 - just not sure which one, and others try to convince me not to purchase a F30, that is NO HELP.

Help on topic is appreciated. Help off topic is not.

Very simple concept - especially as Route 66 is #1 most recommended 3rd party Extended Service Contract provider on Bimmerpost.

Last edited by GCinFLA; 05-16-2017 at 02:53 PM..
Appreciate 0
      05-16-2017, 03:02 PM   #27
ouengineer
Second Lieutenant
120
Rep
233
Posts

Drives: 2015 335xi, 97 Silvia
Join Date: Dec 2016
Location: Colorado

iTrader: (0)

I don't think many really read through the fine print. I think these extended service agreements can be a good deal on less reliable vehicles with expensive repairs. The problem is digging through all the quotes, the reviews, and the fine print to figure out which ones are worth it. I did quite a bit of research, but ultimately gave up and bought something newer and still in warranty. I never really came to a conclusion on a top choice.

If I had bought an out of warranty M3 or M5 though, I definitely would have kept searching for a service agreement. But for an F30 with an N55, I think I'll take my chances when it goes out of warranty. These cars look to be pretty solid.

On a side note, someone recently had Route 66 deny coverage on a blown chargepipe by claiming it to be a hose. This alone is enough for me to never purchase anything from them.
__________________
Appreciate 1
GCinFLA284.00
      05-16-2017, 03:05 PM   #28
GCinFLA
Banned
United_States
284
Rep
1,015
Posts

Drives: BMW
Join Date: Dec 2016
Location: FLA

iTrader: (3)

Quote:
Originally Posted by ouengineer View Post
I don't think many really read through the fine print. I think these extended service agreements can be a good deal on less reliable vehicles with expensive repairs. The problem is digging through all the quotes, the reviews, and the fine print to figure out which ones are worth it. I did quite a bit of research, but ultimately gave up and bought something newer and still in warranty. I never really came to a conclusion on a top choice.

If I had bought an out of warranty M3 or M5 though, I definitely would have kept searching for a service agreement. But for an F30 with an N55, I think I'll take my chances when it goes out of warranty. These cars look to be pretty solid.

On a side note, someone recently had Route 66 deny coverage on a blown chargepipe by claiming it to be a hose. This alone is enough for me to never purchase anything from them.
Plenty of Route 66 claim denials on Bimmerpost if one uses Google.

I agree that this thread (and off topic posts) points to large number of forum members not reading the "fine print".
Appreciate 0
      05-16-2017, 05:23 PM   #29
paul e
Captain
420
Rep
840
Posts

Drives: 340i xDrive 6MT
Join Date: Oct 2015
Location: South Carolina

iTrader: (0)

"Enjoy your copy of AARP magazine, bud."

And what's the deal with AARP? You have a bone to pick with everyone here? Sorry I'm not as young as you think I should be.

You can always recognize those with limited intelligence. They show you.
Appreciate 0
      05-16-2017, 05:34 PM   #30
GCinFLA
Banned
United_States
284
Rep
1,015
Posts

Drives: BMW
Join Date: Dec 2016
Location: FLA

iTrader: (3)

Quote:
Originally Posted by paul e View Post
"Enjoy your copy of AARP magazine, bud."

And what's the deal with AARP? You have a bone to pick with everyone here? Sorry I'm not as young as you think I should be.

You can always recognize those with limited intelligence. They show you.
Better direct that at the proper party....The know it all who cannot read the fine print, meaning he will fail miserably in his job with Live Nation as he will fuck up the Performer's Rider.

He's the one who has shown his limited intelligence.

BTW, why does Live Nation have Insurance on all their shows? Hmmmm.
Appreciate 0
      01-09-2018, 07:37 AM   #31
shadowx360
Private First Class
38
Rep
146
Posts

Drives: BMW 340i
Join Date: Apr 2013
Location: United States

iTrader: (0)

Quote:
Originally Posted by munu View Post
My comment was based on what I actually did recently. I am in Florida and got a quote from GTA (Florida based) which clearly showed tax. Then I found a small credit union somewhere on west coast, they offered me the price (almost same as GTA) and there was no tax. This is based on actual experience (not documents on the web). I think it works just online shopping, taxes depends on if the selling company got presence in your state.

So I would recommend call some credit union or even go online and get online quote. Try http://www.route66warranty.com/AFFCU/
Hate to revive an old post, but I am in same situation. I’m in FL, I saw AFFCU and PenFed when Googling, but AFFCU requires living/working in one of the Alabama counties listed on their website for eligibility. How did you get around that? I know PenFed allows joining an organization as a way to get membership but I don’t see an exception for AFFCU. The one from PenFed is $3k for 5 years/100k miles but the ones listed on the AFFCU link are much better priced.

Last edited by shadowx360; 01-11-2018 at 06:47 PM..
Appreciate 0
      01-11-2018, 06:47 PM   #32
shadowx360
Private First Class
38
Rep
146
Posts

Drives: BMW 340i
Join Date: Apr 2013
Location: United States

iTrader: (0)

Quote:
Originally Posted by GCinFLA View Post
All the other Reputable Companies I investigated DO cover those, so your statement "...it's still better then (sic) other companies" is incorrect.



Not true. Below is quote in Florida, as you are in Orlando.

Some States do not charge tax on Service Contracts. However, Route 66 has not filed for exemption in those States (including Florida) as others have done, thus you pay Tax on Policy and then again, tax on Repair.

As also noted, this same set of quotes on same vehicle was $200 higher than TOTAL amount in Illinois, even though Illinois is tax exempt on Service Contracts.
Which company is this? In market for warranty when factory warranty expires on mine and these numbers look good compared to the BMW ones I was quoted.
Appreciate 0
      01-15-2018, 09:49 PM   #33
Hobie18
New Member
United_States
0
Rep
27
Posts

Drives: 2013 328ix
Join Date: Nov 2015
Location: Southern CT

iTrader: (0)

One of the risks with independent extended service contracts is they are not regulated insurance products. They are priced less than manufacturer based offerings and provide greater profits to the sellers. The downside is they often don't have adequate reserves to pay claims. This can happen years later when you have claim denied.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 10:13 AM.




f30post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST