11-07-2021, 06:40 PM | #1 |
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Going about getting a warranty...
Hey all. I'm looking into purchasing my first BMW. At the same time, I am looking to know if I would be able to purchase an extended warranty for 2014-2016.
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11-07-2021, 08:25 PM | #2 |
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You can purchase a third party warranty, but according to a Consumer Reports survey 55% of respondents who bought an extended warranty didn’t use it, and only a quarter of survey participants said they’d buy one again. The cost for repairs among respondents who used their warranty was typically less than the cost of the warranty.
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11-08-2021, 07:52 AM | #3 |
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I bought used 2016 in early 2019 and purchased an extended warranty and have not had to use it. I almost never buy extended warranties, but I was worried having heard horror stories about German cars. I bought the car with about 35K miles and now have close to 70K and no issues (knock on wood). I'm only a sample of 1, but I wouldn't recommend an extended warranty for the F34.
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11-08-2021, 09:20 AM | #4 |
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Invest the $$$ that you'd pay for a warranty. If you ever need expensive repairs you've got that to help pay for it. If you don't have to cash it in you're making 10% or more on that investment every year if you invested wisely. If you do this you're doing the same thing that the warranty companies do. When they collect premiums they don't put it in a mattress, they invest it.
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11-09-2021, 10:59 AM | #5 |
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If it's pre 2017 LCI, check to see if the timing chain has been replaced. It's a common fault of the 1st gen F3x engines and amajor expense that might tip the scale for getting an extended warranty.
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