[danperson1]

Hey guys,

Purchasing my first BMW. 51k miles e92 2008 335xi, well maintained. Looking at the following warranty options from my credit union:

http://prtlimages.cunamutual.com/ima...1662671__2.pdf

Silver 36mo/36k: 2.3k
Silver 48/50k 2.7k
Gold 36mo/36k: 2.8k
Gold 48/50k 3.1k

Based on what we know about these cars, do you think the warranty is worth it and if so which would you get?? $250 deductibles...

[ycehcky]

Can you build it into the loan? I would say the Gold 48 if you can, then you would be set until the magic 100k. I would definitely get gap insurance too, because of depreciation..
That would probably still be under $20,000 for car/warranty/gap. Pretty sweet deal for the amount of car you get.

[patents]

Statistically, on average you will not come out ahead by buying a warranty. Some people win, most will lose. IMO warranties are good for 1) people who are terrible with money and can't keep savings for potential repairs, or 2) for a make/model that has particular, known common issues that are highly likely to need repair and are very costly, and the warranty not being priced accordingly.

First, look at the repair history of that car and see if the common issues have already been taken care of.

The Gold plan doesn't seem to be worth it over the Silver. Nothing the Gold plan covers addresses common issues and/or the things it covers are very cheap to fix anyway.

As for gap, probably not a good idea, since (assuming you get a loan) the depreciation will track your loan balance fairly closely through the loan life. With a 2008 you are at the tail of the depreciation curve. Gap is only useful for new or fairly new cars that depreciate very quickly and you end up heavily upside down. You'll never be much upside down with a 2008.

I've even seen people suckered into gap insurance when they put up a large down payment... from day 1 they were never upside down. Gap was worthless.

Also, gap only covers the narrow situation of a total loss or theft of the car. Highly unlikely.

Sorry, got off track with gap.

[Welcome to NBA Jam]

I like how they say control arms are over $600 when all 6 M3 control arm pieces are $300.

Even better is the clearly made-in-Word exponential graph.

[fazman]

Originally Posted by danperson1

Hey guys,

Purchasing my first BMW. 51k miles e92 2008 335xi, well maintained. Looking at the following warranty options from my credit union:

http://prtlimages.cunamutual.com/ima...1662671__2.pdf

Silver 36mo/36k: 2.3k
Silver 48/50k 2.7k
Gold 36mo/36k: 2.8k
Gold 48/50k 3.1k

Based on what we know about these cars, do you think the warranty is worth it and if so which would you get?? $250 deductibles...

I have a 2008 e90 335xi, I paid about $1500 for a CPO extension of 1 year (about 25k miles). In that time period it covered some stuff that I happened to get codes for but were not serious issues. I think if I had the same items fixed at an Indy it would have been less than what I paid. It also didn't cover other issues that I had which were exclusions. In retrospect... I think I would have been better off paying a good indy for any repairs.

[F30lolz]

Man that is a high deductible. Try to negotiate it down to at least $100.

[danperson1]

Originally Posted by F30lolz

Man that is a high deductible. Try to negotiate it down to at least $100.

Yeah... the $100 deductibles add about 700 dollars to each plan and unfortunately it is non negotiable

[danperson1]

Originally Posted by fazman

I have a 2008 e90 335xi, I paid about $1500 for a CPO extension of 1 year (about 25k miles). In that time period it covered some stuff that I happened to get codes for but were not serious issues. I think if I had the same items fixed at an Indy it would have been less than what I paid. It also didn't cover other issues that I had which were exclusions. In retrospect... I think I would have been better off paying a good indy for any repairs.

There is a pretty highly regarded independent shop in my area (http://www.milwaukeemotorwerks.com/) that I think I could utilize for most repairs. I am considering just putting the 3k in a "BMW repairs" savings account, but I don't want to get screwed over with a 4k turbo bill or something.

[danperson1]

Originally Posted by patents

Statistically, on average you will not come out ahead by buying a warranty. Some people win, most will lose. IMO warranties are good for 1) people who are terrible with money and can't keep savings for potential repairs, or 2) for a make/model that has particular, known common issues that are highly likely to need repair and are very costly, and the warranty not being priced accordingly.

First, look at the repair history of that car and see if the common issues have already been taken care of.

The Gold plan doesn't seem to be worth it over the Silver. Nothing the Gold plan covers addresses common issues and/or the things it covers are very cheap to fix anyway.

As for gap, probably not a good idea, since (assuming you get a loan) the depreciation will track your loan balance fairly closely through the loan life. With a 2008 you are at the tail of the depreciation curve. Gap is only useful for new or fairly new cars that depreciate very quickly and you end up heavily upside down. You'll never be much upside down with a 2008.

I've even seen people suckered into gap insurance when they put up a large down payment... from day 1 they were never upside down. Gap was worthless.

Also, gap only covers the narrow situation of a total loss or theft of the car. Highly unlikely.

Sorry, got off track with gap.

Thanks for your reply. Ya, I declined the GAP because the cars value is 19k supposedly and I am purchasing for 16k. As far as history, he has replaced the water pump and followed recommended maintenance to the t. He also said he had the dealership do a few other things over the past few years:

-Resealed transmission sealing sleeve

-Had "AC Coil Service" performed

-Steering wheel started to make clicking sound when turning; Fields replaced lower steering shaft linkage; issue addressed

He gave me his BMW service advisor's contact info to confirm everything so I'm going to give them a call today to get more info.

[danperson1]

Originally Posted by Welcome to NBA Jam

I like how they say control arms are over $600 when all 6 M3 control arm pieces are $300.

Even better is the clearly made-in-Word exponential graph.

Too funny! Scare tactics I guess...

[danperson1]

Originally Posted by ycehcky

Can you build it into the loan? I would say the Gold 48 if you can, then you would be set until the magic 100k. I would definitely get gap insurance too, because of depreciation..
That would probably still be under $20,000 for car/warranty/gap. Pretty sweet deal for the amount of car you get.

Yes, I could build it into the loan. I have 5k sitting aside for maintenance and repairs though so i was thinking of just buying it outright to save some interest.

Yeah, Gold is nice because I heard the window acutautors are susceptible on the E92s and it would be included if I got the Gold.

[blackhawkk22]

Route 66 or bust

[danperson1]

Originally Posted by blackhawkk22

Route 66 or bust

I've heard great things about them... unfortunately the credit union I am going through (UW credit union) does not offer them, but offers this one instead. I think I'd need to get into a different credit union that offers them since you cannot get it without one.

[blackhawkk22]

Originally Posted by danperson1

I've heard great things about them... unfortunately the credit union I am going through (UW credit union) does not offer them, but offers this one instead. I think I'd need to get into a different credit union that offers them since you cannot get it without one.

Get it through PenFed. Super easy

[zooch7]

From my experience get the one that covers everything. I paid 3k for my warranty. 2 months later $1800 for my oil pan gasket and some other gasket. 6 months later my turbos failed. That was $4800. Warranty already paid for itself. I just bought a house and everyone's finances are different. I recommend a warranty. Especially for the n54 engine :-) my 2 cents.

[NoSlow5oh]

Get the Route 66 Easy Street if you can. Much cheaper than the one you listed and they are known to pay out when needed.

I joined PenFed through my work just for this, but you can join by making a $20 or so donation.

[patents]

Originally Posted by danperson1

Yeah, Gold is nice because I heard the window acutautors are susceptible on the E92s and it would be included if I got the Gold.

I replaced two window regulators, $65 each at AutoZone and did the work myself, 20 minutes each side.

[fazman]

Originally Posted by danperson1

There is a pretty highly regarded independent shop in my area (http://www.milwaukeemotorwerks.com/) that I think I could utilize for most repairs. I am considering just putting the 3k in a "BMW repairs" savings account, but I don't want to get screwed over with a 4k turbo bill or something.

If anything is going to fail with the turbo... it would be because of the wastegate rattle. At that point you might as well get RB Turbo's or something else aftermarket turbo wise to really enjoy your car. I'm at 108k miles and still boosting. Others have 300k miles on these cars. My guess is you will be fine

[danperson1]

Originally Posted by fazman

If anything is going to fail with the turbo... it would be because of the wastegate rattle. At that point you might as well get RB Turbo's or something else aftermarket turbo wise to really enjoy your car. I'm at 108k miles and still boosting. Others have 300k miles on these cars. My guess is you will be fine

Thanks. Decided to pass on the warranty because I couldn't get an exclusionary or a route 66 warranty. Put the 3.5k I would have spent in an online savings account and hoping for the best.

P.s. Holy shit the n54 + e92 chassis + summer tires is a dream! I don't know how I will ever go back to a non BMW after this

[NoSlow5oh]

Originally Posted by danperson1

Thanks. Decided to pass on the warranty because I couldn't get an exclusionary or a route 66 warranty. Put the 3.5k I would have spent in an online savings account and hoping for the best.

P.s. Holy shit the n54 + e92 chassis + summer tires is a dream! I don't know how I will ever go back to a non BMW after this

Go easy or you will spend that savings on rear tires. They are not cheap!

[csu87]

i have a similar type aftermarket warranty on mine and it has more then paid for itself. But mine would be your platinum level and cost about the level of your Gold and I have a $100 deductible.

Between 2 headlight assemblies, 2 tail light assemblies, 2 window regulators, a couple sensors malfunctioning, a LPFP and HPFP, my total cost of repairs is over $6k now from the dealer, and ive paid about $500 out of pocket from the deductible. Also, my warranty includes either a loaner from the dealer or a rental if the repairs will take 2 days + so theres that.

[BayMoWe335]

None...those are for suckers. BMW extended the warranty on the most common failures.

Gap insurance is dumb on a 2008.

$3k can repair a lot and the expensive stuff BMW covers.

Why people think these are good is beyond me. Warranties are priced for you to lose. Maybe you will or won't, but better to avoid as a general rule.

$250 deductible is insane.