Buy Bmw Extended Warranty
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But just as you've breathed a sigh of relief, you realize that you are walking into the finance and insurance (F&I) office to sign the contract. Once inside that room, the F&I manager will likely offer you things such as paint protection, prepaid maintenance plans, theft-recovery systems and a road-hazard warranty for your tires. But one of the priciest products offered will likely be the extended car warranty.
It is important to note that you have the option to purchase this auto warranty any time before the manufacturer warranty expires. You can even purchase an extended warranty after the manufacturer warranty expires, although the price will go up considerably.
You might already have asked the five questions that should precede the conclusion of a new car deal. But now it is time to ask yourself five extended car warranty questions. They'll help you decide whether this vehicle service contract is worth it, and they'll help you get the best price.
Before we get to the questions you should answer for yourself, here's one you'll hear from the finance manager: "Do you plan on keeping this car for a long time?" It's a common question, and it's worth your consideration. Do you get tired of a car by its third year? If so, paying for an extended car warranty doesn't make much sense since the manufacturer's warranty will still likely be in effect. But if you are someone who drives a vehicle until the wheels fall off, the extended car warranty might be worth considering. But how long you'll keep the vehicle isn't the only consideration. Here are five questions to think through before you decide.
Many dealerships offer third-party warranties from companies with varying track records. If you are going to purchase an extended car warranty, make sure it is backed by the automaker, not just the dealership or some other company. You can use a manufacturer-backed extended warranty at any dealership across the country. A third-party vehicle service contract might be good only at the dealership that sold it to you.
It's unlikely that an F&I manager will be willing to let you shop around on your phone while you're sitting at his or her desk with a pile of purchase paperwork between the two of you. This research is best done before you go to the dealer to finalize your auto purchase. If buying the vehicle is already a financial handful, you can shop for a better price on the extended auto warranty after the sale. Here's how to do that.
Get a price quote from the F&I manager for the warranty that's offered. Then shop it around by phone with F&I managers at other dealerships, simply to compare prices on the car you're getting ready to buy.
The F&I manager at the dealership at which you're buying the vehicle might say that the price of the extended car warranty is not negotiable. That might not actually be the case. If you check with other dealers, you'll find that some of them do have a lower asking price for the same product. Or they might be more willing to negotiate.
The only benefit to getting an extended auto warranty as you purchase a vehicle is the ability to wrap the warranty's cost into your financing. But unless you've shopped in advance and can negotiate a lower price for the extended warranty on the spot, this route could cost you more in the long run.
Have other cars you've owned had the kinds of problems that would have been covered by a warranty? If you are considering a road-hazard tire warranty, for example, think about how many times you've had a flat tire. If there is a lot of debris on the roads in your area or if you've had several flat tires in a short span of time, a road-hazard warranty may be worth looking into. But if you can't remember the last time you had a flat, you might not need the coverage.
You also can add up how much you have spent on out-of-warranty repairs in the past and compare the total to the warranty's price. For example, if you've paid $500 for repairs that occurred out of warranty, weigh that against the cost of the extended warranty.
Some F&I managers can make you feel that saying no to the extended warranty is like playing Russian roulette with your vehicle. You never know when that costly repair bullet might strike. But new cars are more reliable than ever. And the data seems to indicate that most people might not need an extended warranty.
If you still want an extra measure of security, you can self-insure. Financial guru Dave Ramsey suggests setting aside half of what you would pay for a warranty and using that money to handle any car repairs that might come up.
No matter what advice comes their way, some people simply aren't willing to take chances or prefer the convenience of an extended warranty. They're more comfortable knowing that any major repairs will be taken care of. There's nothing wrong with that. If you're a belt-and-suspenders person, just make sure you ask the right questions before you buy an extended warranty.
The BMW i Three Year Unlimited Mileage Warranty offers three years cover for almost every eventuality. The warranty for your BMW i vehicle includes BMW Mobile Care and also protection for the BMW i high voltage battery for up to eight years or 100,000 miles, whichever comes first. During your ownership over these years, any repairs carried out will be done promptly, professionally and efficiently by our highly trained BMW technicians at BMW i Service Authorised Workshops. Once the original BMW i Warranty expires you can simply purchase a BMW warranty extension with BMW Insured Warranty.
Like our other warranties, the BMW PHEV Warranty protects you for those unforeseen events that crop up from time to time. The warranty includes BMW Emergency Service and also covers the BMW PHEV high voltage battery for up to 6 years from the date of registration, or up to 60,000 miles, whichever comes first. As with the BMW i Warranty, as your BMW PHEV Warranty comes to an end, if your car has been serviced in accordance with BMW recommendations, you will be able to purchase an Insured Warranty.
Prior to making any choices, make some inquiries into your particular model and year to guarantee dependability. A number of models have been known to have problems, which makes the decision to acquire extended protection a no-brainer. A great resource to verify information on your vehicle is Edmonds.com.
Attaining a BMW extended warranty, or a vehicle protection plan, is, at the end of the day, a choice every individual must make for themselves. Essentially, this type of coverage is a form of insurance and like other types of insurance, you need to buy the coverage BEFORE it is needed.
Warranties are designed to cover the costs of unexpected repairs and vehicle-related expenses. Vehicle service contracts cover the costs of expected maintenance and effectively pre-pay those costs at a low rate than may be charged in the future. The terms are often used interchangeably because most warranties are a promise by the warranty company to pay for services in exchange for the up-front purchase of the policy.
These types of coverage are most often purchased by buyers that intend to own a vehicle beyond the length of the standard factory warranty or for a used vehicle that is already out of warranty. It is an entirely separate coverage package and is purchased separately from the factory warranty that comes with a new vehicle.
While a pure warranty comes only from the factory, extended warranties can be sold by a dealership, a manufacturer or another third party in varying lengths and coverages. The coverage can be purchased in full outright or in monthly payments looped into the monthly costs of vehicle ownership.
Extended warranties are not quite the same as new-car warranties, and they can be byzantine to decipher. Because there is no regulating rule specifying exactly what must be contained within an extended warranty or vehicle service contract, the guidelines, coverages and terms vary wildly from state to state and by service provider.
Also, quite often when a vehicle is still within the term of its factory warranty, the coverages provided in the extended warranty overlap with those provided by the factory, thus making it an unneeded expense. Be sure to read the fine print on the length of time that rental cars are guaranteed for and what the deductibles might be.
Also, if you choose to use your vehicle for commercial purposes like driving for a food delivery service or delivering packages, you will invalidate your service plan. There are some specialized extended warranties and service contracts for gig drivers, but they are still a very new idea for most insurers and warranty providers. Check the fine print first!
BMW is one of the automakers that has a more extensive extended warranty program many other automakers tend to offer. While some automakers just extend the original coverage (inclusions and limits) of the factory warranty, BMW has taken the approach of offering a few different choices to its drivers.
This basic plan is the lowest offering in the BMW extended vehicle protection lineup. In many ways, choosing this plan essentially extends the typical powertrain warranty most cars come with when brand new.
Since the plan is primarily focused on the powertrain, the list of exclusions is fairly large for a true extended warranty. Components like steering, brakes, heating, and air conditioning are all left out.
The Gold plan is a step up from the Powertrain Plus option, offering more comprehensive coverage for drivetrain parts without getting into the coverage territory of a bumper-to-bumper warranty. Once again, its drivetrain focus makes it more like a powertrain warranty than anything else.
For the extra cost, the plan is a good choice for a blend of powertrain and bumper-to-bumper warranty coverage. In the list of comprehensive inclusions, you will find main powertrain components like the engine and transmission with other major components such as the cooling, fuel, induction, steering, braking, heating, cooling, and electrical systems. 781b155fdc