[hudlander]

I might be buying a non certified used BMW, most likely from a BMW dealer but maybe elsewhere.
I am NOT comfortable having a car without some warranty comparable to a CPO in terms of coverage.
My questions:

1. If this is the case, does it make sense for me to only buy CPO and not do a non CPO+extended warranty? In other words if you must have a warranty then do CPO do not do non CPO or is that fine?
2. I want good coverage, not super plus but not crappy, similar to what I would get on a CPO (1-2 years). I was looking at a 2020 X5 with 58K which cost 31.5 but with a 2 year warranty it added 5k.
Generally should I buy from the dealer or 3rd party?
- If 3rd party, which?
3. Is it possible to negotiate?

Thanks.

[stbm5]

well, replacing the front differential on an X5 will surpass that 5K add on. i think the answer is find a CPO with some warranty left or buy the BMW warranty.

[hudlander]

Whom do you recommend?

[athimamula]

What is the difference between BMW PLAT BASE 60 CPO PROTECT 84 months/unlimited vs BMW VSC PROTECTION 84 months/100 k. I got the quote from two dealers for my certified 2023 530e XDrive. Trying to compare these options with Route66. Appreciate any help.

[JABCAT]

Why not buy a newer/lower mileage vehicle instead of throwing $ away with an extended service contract?

[Mech Spec]

Put your 5k in a hysa or any other safe returning option...

Can never understand anyone buying an aftermarket warranty. If it was worth the money they charge, they would be charging more!

[LogicalApex]

Route 66 is highly regarded on the forum if you go third party.

Originally Posted by athimamula

What is the difference between BMW PLAT BASE 60 CPO PROTECT 84 months/unlimited vs BMW VSC PROTECTION 84 months/100 k. I got the quote from two dealers for my certified 2023 530e XDrive. Trying to compare these options with Route66. Appreciate any help.

Does Route 66 cover the 530e? When I reached out to them about coverage for mine they said they don’t cover PHEVs so I went with the BMW warranty instead. This was in 2020 so things may have changed!

You can’t get the CPO coverage on a non-CPO. The CPO also can’t get the mileage limited coverage.

[FCX5]

Originally Posted by Mech Spec

Put your 5k in a hysa or any other safe returning option...

Can never understand anyone buying an aftermarket warranty. If it was worth the money they charge, they would be charging more!

This is for any product you buy! Insurance is to protect you IF you are unlucky. It has on average worked out for me since I tend to buy more complex than average cars.

If your logic made sense you should only buy legally required insurance.

[jereze93]

Originally Posted by FCX5

This is for any product you buy! Insurance is to protect you IF you are unlucky. It has on average worked out for me since I tend to buy more complex than average cars.

If your logic made sense you should only buy legally required insurance.

strongly agree. there's a reason that insurance is a trillion dollar industry and there's also a reason everybody has it in some form or another.

[Mech Spec]

Originally Posted by FCX5

This is for any product you buy! Insurance is to protect you IF you are unlucky. It has on average worked out for me since I tend to buy more complex than average cars.

If your logic made sense you should only buy legally required insurance.

There's absolutely no way you have broken even on aftermarket warranties. Total bullcrap

aftermarket warranties are not insurance.

[Mech Spec]

Originally Posted by jereze93

strongly agree. there's a reason that insurance is a trillion dollar industry and there's also a reason everybody has it in some form or another.

Insurance is a trillion dollar industry because for the most part it is a scam. Big profits in fleecing people when the system requires you to buy the product.

See homeowners insurance denials.

[FCX5]

Originally Posted by Mech Spec

There's absolutely no way you have broken even on aftermarket warranties. Total bullcrap

aftermarket warranties are not insurance.

I like your confidence in asserting yourself. I have replaced air springs, rear comfort lock and oil leak and other major issues in the last two years. In fact my CPO wrap covered over $5k last year (final year) and I paid $3900 for it.

It is not worth arguing with you since you seem too far removed from being anyone willing to accept anything other than what your mind has already made up. All the best!

[jereze93]

Originally Posted by Mech Spec

Insurance is a trillion dollar industry because for the most part it is a scam. Big profits in fleecing people when the system requires you to buy the product.

See homeowners insurance denials.

if you want my honest opinion- yes every single insurance industry is slimy and driven by capitalism so yeah they're chasing profits. at the same time though, insurance saves people from bankruptcy every single day. maybe that's only like 2% of policyholders, but it's worth the cost to make sure you're not fucked if you're in the 2%.

[Vindicator3]

The goal for all insurance you buy should be for you to "lose" money - that means you were one of the lucky ones with no claims. The financial proposition for insurance (or extended warranties) isn't that everyone will come out ahead (or that everyone won't) - it is essentially guaranteed that some will come out ahead and some won't.

The financial proposition for insurance is risk pooling - we know (actuarially) that X% of the population will suffer a fire, or get cancer, or have their engine melt down, or die young, or cause an accident that paralyzes someone for life (or whatever else you are insuring/warrantying against). 100-X% of the people who pay in won't have that expense, and lose money on the inurance, but the X% who suffer that loss don't have to pay the full cost of the loss, they only have to pay their premium/deductible/copay.

Insure against things that are possible but unlikely, and also very expensive. Use your own money to pay for things that are likely (even if expensive) or things that are inexpensive.

[Mech Spec]

Originally Posted by FCX5

I like your confidence in asserting yourself. I have replaced air springs, rear comfort lock and oil leak and other major issues in the last two years. In fact my CPO wrap covered over $5k last year (final year) and I paid $3900 for it.

It is not worth arguing with you since you seem too far removed from being anyone willing to accept anything other than what your mind has already made up. All the best!

You got 5k worth of work at a dealer, which would've cost 25-30% less if you didn't pay their market up labor rates. At best you broke even, and accounting for what that money could've earned in that time frame you probably didn't break even, since you plopped down 4k in cash 3+ years ago to cover 5k in repairs.

[BMWbiker]

I bought a factory extended warranty for a previous (non-BMW) car.

That one warranty has paid for all subsequent ones.

[FCX5]

Originally Posted by Mech Spec

You got 5k worth of work at a dealer, which would've cost 25-30% less if you didn't pay their market up labor rates. At best you broke even, and accounting for what that money could've earned in that time frame you probably didn't break even, since you plopped down 4k in cash 3+ years ago to cover 5k in repairs.

I am assuming your over confidence comes from your great success in life! Well done!👍🏻

[JABCAT]

Sometimes I purchase extended service contracts, sometimes I don't. Factors that come into play,
1. How long do I plan to keep the vehicle
2. What are common issues for this vehicle
3. What can I repair/replace myself
4. What is the wholesale cost of the plan & how much will I pay.
5. Is the plan inclusionary or exclusionary
6. Is the plan cancelable and/or transferrable
7. What are the deductible options
8. Who backs/underwrites the plan. What is their rating.

I purchased a 7-yr/100k Mopar plan for a '16 Wrangler we purchased. I had an agreed price on the Wrangler in writing but when I came to pick it up the sales manager said the salesperson made a mistake & he refused to sell me the vehicle for that price. I negotiated then the extended service plan with $0 deductible for $1k that had a suggested retail price of $3,400. I was happy with that & it paid for itself a couple times over plus was transferrable to the individual who purchased our Jeep.

I also purchased the Gold add-on coverage for my daughter's '20 CPO Subaru Impreza because she was in college & I didn't want her to have any unexpected expenses. Cost was $1,700 for 7/100k. When we sold the vehicle, we received a pro-rated refund of $1400.

The BMW extended service contracts are very expensive for very little coverage. Quotes I received for my wife's '22 X3MC were as follows:
1 year of added coverage or 25k mi $3750
1 year of added coverage or 50k mi $4200
2 yrs/25k mi $4550
2 yrs/50k mi $5150
3 yrs/ 25k mi $5300
3 yrs/50 mi $6450

Pre-paid maintenance plan quotes:
1 yr/14k mi (after standard maintenance) $2349
2 yr/39k mi $3799
3 yr/64k mi $5199
4 yr/89k mi $6349

There's no maintenance items that are required in those time/mileage intervals that would cost close to that much or that I couldn't do myself.

My wife is way more likely to trade her vehicle in before it would need any repairs or maintenance approaching those amounts.