[runner519]

I'm new to the BMW world. I had my old beater car for the past 12 years, and finally upgraded and love it. I recently got a 2016 340i xDrive with just over 18,000 miles on it, Certified Preowned. Being new to having an actual nice car, I want to make sure I'm taking care of it correctly and treating it like it should be.

When I got it, I was offered Extended Warranty options that if anyone with experience has their 2 cents on it I'd appreciate it. The 4 year/50k warranty will be done in June 2020 (not a chance I hit 50k miles, I drive tops of 12-15k a year), then the CPO warranty kicks in for a year after that, so until June 2021. What I am looking at is the option of doing the BMW Extended Platinum Warranty that is 5 years, which would take me to June of 2024, for a total cost of just under $5,000, divided up monthly over the next five years.

My first thought is no I shouldn't do it... it's a relatively new car with very low mileage, and $5k is a lot to dish out since the first of those five years has the manufacturer's warranty and the second year has the CPO warranty. I know the CPO warranty isn't all inclusive so the Extended Warranty would still have some coverage during that time. So in this scenario I'd be risking something going wrong with it that's not covered during those first two year or anything wrong with it those next 3 years, and if it did and it cost over $5,000 then I'd be looking back wishing I went with the warranty, but that seems like a steep price to me for that comfort.

The other option is to just go with it and forget about it, knowing that if nothing goes wrong with it in the next 5 years that the cost of that comfort of it being covered if it did was $5k and so be it.

Thanks in advance to anyone that has any thoughts/experience with this. It's sure been a fun car to drive these first few weeks!

[ooshnoo]

$5000?? Hell no. Take the money you'd be paying extra each month towards the warranty and save it. That way you'll a nice stash to use for whatever repairs are needed.

[GreenF30N26]

^^that x2

[exE36M3]

FWIW, every car manufacturer will send you a letter about 6 months after the factory warranty expires with an offer to extended it. I'd burn up the year and wait for that letter. Make sure you register with BMW USA as soon as you buy it though to get on that mailing list. The extended warranty should be a bit less than $5k. So yes, skip.

[F30lolz]

If it’s unlimited miles I would negotiate the price, however, as you’ve said you do 15k miles/year tops, not worth it IMHO. By 2024 you’ll be just around 80k miles.

[MmmmmM2]

Originally Posted by percychow

FWIW, every car manufacturer will send you a letter about 6 months after the factory warranty expires with an offer to extended it. I'd burn up the year and wait for that letter. Make sure you register with BMW USA as soon as you buy it though to get on that mailing list. The extended warranty should be a bit less than $5k. So yes, skip.

That's good information. Thanks!

[IK6SPEED]

Originally Posted by runner519

I'm new to the BMW world. I had my old beater car for the past 12 years, and finally upgraded and love it. I recently got a 2016 340i xDrive with just over 18,000 miles on it, Certified Preowned. Being new to having an actual nice car, I want to make sure I'm taking care of it correctly and treating it like it should be.

When I got it, I was offered Extended Warranty options that if anyone with experience has their 2 cents on it I'd appreciate it. The 4 year/50k warranty will be done in June 2020 (not a chance I hit 50k miles, I drive tops of 12-15k a year), then the CPO warranty kicks in for a year after that, so until June 2021. What I am looking at is the option of doing the BMW Extended Platinum Warranty that is 5 years, which would take me to June of 2024, for a total cost of just under $5,000, divided up monthly over the next five years.

My first thought is no I shouldn't do it... it's a relatively new car with very low mileage, and $5k is a lot to dish out since the first of those five years has the manufacturer's warranty and the second year has the CPO warranty. I know the CPO warranty isn't all inclusive so the Extended Warranty would still have some coverage during that time. So in this scenario I'd be risking something going wrong with it that's not covered during those first two year or anything wrong with it those next 3 years, and if it did and it cost over $5,000 then I'd be looking back wishing I went with the warranty, but that seems like a steep price to me for that comfort.

The other option is to just go with it and forget about it, knowing that if nothing goes wrong with it in the next 5 years that the cost of that comfort of it being covered if it did was $5k and so be it.

Thanks in advance to anyone that has any thoughts/experience with this. It's sure been a fun car to drive these first few weeks!

The CPO covers the exact same thing as the Platinum you are looking at. Same terms and conditions.

Originally Posted by percychow

FWIW, every car manufacturer will send you a letter about 6 months after the factory warranty expires with an offer to extended it. I'd burn up the year and wait for that letter. Make sure you register with BMW USA as soon as you buy it though to get on that mailing list. The extended warranty should be a bit less than $5k. So yes, skip.

I have received dozens of offers for aftermarket extended warranties from the type Companies you would never want to deal with.

However, I have never received any offers for EW from BMW or any of the other cars I've ever purchased new from Dealer that I can recall.

[exE36M3]

OK, let me concede a point to IK6Speed - my use of "every manufacturer" may not be correct in your case.
Our BMW friends in the UK get such a letter, but the USA, doesn't look like it.

In my own experience of extended warrantees...
Factory Mazda has sent letters offering to extend the factory warranty past it's date.
Mazda offered the extension of their warranty via a factory letter.

Zurich extended warrantees (GMC) has sent letters offering to extend the factory warranty past the extended warranty.
They offered the extension with a 2-hour CPO-style inspection and cost.

Just wanted to clear that up, because I'd rather be wrong than offer advice that costs you a ton of money later on.

As an aside, I have had extremely positive experiences with Zurich extended warrantees. We went bumper to bumper on our GMC Acadia. The warranty was $2500, the repairs in a 3 year span were over $15k. We received ZERO pushback whenever we took that car in.

[runner519]

Great, thank you all for the replies. I felt like $5k was pretty steep and that seems to be the general consensus so I'll hold off doing the extended warranty. I guess I'll see if I get an offer for extending it in the mail in a year. Thanks!

[tex2670]

Originally Posted by runner519

I'm new to the BMW world. I had my old beater car for the past 12 years, and finally upgraded and love it. I recently got a 2016 340i xDrive with just over 18,000 miles on it, Certified Preowned. Being new to having an actual nice car, I want to make sure I'm taking care of it correctly and treating it like it should be.

When I got it, I was offered Extended Warranty options that if anyone with experience has their 2 cents on it I'd appreciate it. The 4 year/50k warranty will be done in June 2020 (not a chance I hit 50k miles, I drive tops of 12-15k a year), then the CPO warranty kicks in for a year after that, so until June 2021. What I am looking at is the option of doing the BMW Extended Platinum Warranty that is 5 years, which would take me to June of 2024, for a total cost of just under $5,000, divided up monthly over the next five years.

My first thought is no I shouldn't do it... it's a relatively new car with very low mileage, and $5k is a lot to dish out since the first of those five years has the manufacturer's warranty and the second year has the CPO warranty. I know the CPO warranty isn't all inclusive so the Extended Warranty would still have some coverage during that time. So in this scenario I'd be risking something going wrong with it that's not covered during those first two year or anything wrong with it those next 3 years, and if it did and it cost over $5,000 then I'd be looking back wishing I went with the warranty, but that seems like a steep price to me for that comfort.

The other option is to just go with it and forget about it, knowing that if nothing goes wrong with it in the next 5 years that the cost of that comfort of it being covered if it did was $5k and so be it.

Thanks in advance to anyone that has any thoughts/experience with this. It's sure been a fun car to drive these first few weeks!

If you are truly worried that you will get hit with a $5,000 unexpected repair (or multiple repairs adding up to that), I'd say get a car you believe to be more reliable. That's a total rip off.

[IK6SPEED]

Originally Posted by runner519

Great, thank you all for the replies. I felt like $5k was pretty steep and that seems to be the general consensus so I'll hold off doing the extended warranty. I guess I'll see if I get an offer for extending it in the mail in a year. Thanks!

EW prices usually go up every year, fwiw.

They are not a constant as price of parts and labor goes up.