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E46 M3 (2001-2006) Engine: S54 - Max Hp: 333 hp at 7,900 rpm / 262 lb/ft at 4,900 rpm
Total Produced: 45,000+ - Years Produced: 2001 to 2006.


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Old Wed, Mar-13-2013, 05:52:07 PM   #1
J4m3
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Default Extended Warranty should I or not

My 06 m3 CPO expires last month, im thinking to get a aftermarket extended warranty, is this worth it or not, some advice needed, thanks...
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Old Wed, Mar-13-2013, 08:15:13 PM   #2
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Default Re: Extended Warranty should I or not

They vary greatly. The devil is in the details. You have to very carefully read all the fine print and compare several different policies. The reputation and reliability of the company is another factor. Even the best policy is no good if the company refuses or is unable to honor a claim. Also remember that when you buy any extended warranty, you are betting that during the period of that warranty you will file a claim or claims and recover more than the amount of the premium you paid. If you don't recover more than the premium (and don't forget to consider any deductible) you have lost that bet. I tend to think you are better off self-insuring by banking the amount of the premium (and maybe a little more). Then after the policy period has run, if you have not incurred (what would have been) covered claims, you have eaten your cake and you still have it, too. You do run the risk of a catastrophic loss, but those are rare.
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Old Wed, Mar-13-2013, 08:55:52 PM   #3
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Default Re: Extended Warranty should I or not

I would not. save your money for a rainy day. anything that could break can be fixed much cheaper if you do it yourself. All the DIY can be found in the stickies.
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Old Wed, Mar-13-2013, 10:33:25 PM   #4
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Default Re: Extended Warranty should I or not

i have a long post about this topic somewhere... it worked for me
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Old Wed, Mar-13-2013, 10:40:48 PM   #5
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Default Re: Extended Warranty should I or not

Assuming a bulletproof warranty, how much will it cost? Most likely the answer is not worth it, but it depends on a few things like how much the money is worth to you and whether or not you can work on your own car and/or have a second car.
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Old Thu, Mar-14-2013, 12:02:59 AM   #6
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Default Re: Extended Warranty should I or not

Yes how much is the warranty?
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Old Thu, Mar-14-2013, 12:53:47 AM   #7
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Default Re: Extended Warranty should I or not

Considering the following parts / items are not covered;

-brake pads
-rotors
-tires
-clutch
-rubber engine pieces
-spark plugs
-oil filters
-air filters
-fuel filters
-timing belts

I say forget it. That and they will probably fight you tooth and nail on any big ticket items, sock you for $100 to $250 for your deductible - on top of the thousands you pay up front. I say gamble, do like the earlier post and stick 3 dimes in a mutual fund and forget about it. Best case - the fund does well and by the time you want to sell you car that 3k is 6k...
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Old Thu, Mar-14-2013, 01:38:18 AM   #8
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Default Re: Extended Warranty should I or not

extended warranties are all crooks. only approve used or aftermarket parts. in absolute exreme cases (in other words, if not available used or aftermarket) they may approve new OE.

they pay very little hourly to shops (usually 60 - 70 bucks) no reputable shop works for that low.


they are very crooked when it comes to details.... example:

A leak is warrantied but they differentiate a leak from a seep. If it aint drippin, they aint fixing it.


biggest scam out there right now... save your money
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Old Thu, Mar-14-2013, 02:45:25 AM   #9
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Default Re: Extended Warranty should I or not

Quote:
Originally Posted by RaehZa View Post
extended warranties are all crooks. only approve used or aftermarket parts. in absolute exreme cases (in other words, if not available used or aftermarket) they may approve new OE.

they pay very little hourly to shops (usually 60 - 70 bucks) no reputable shop works for that low.


they are very crooked when it comes to details.... example:

A leak is warrantied but they differentiate a leak from a seep. If it aint drippin, they aint fixing it.


biggest scam out there right now... save your money
I wouldnt say they are ALL crooks, only some ...

sounds like you purchased a warranty from a third party provider. There are many scams out there and you must be careful who you are dealing with. Its also worth it to look over the entire policy before purchasing. The main thing you should be concerned about is "limits of liability" meaning a cap on the pay out for repairs for each category. You must purchase a warranty with no limits of liability from an established credible provider.


I currently work for the largest supplier of auto warranties nationwide with the highest rating. I can cover the vehicle for less than the cost of a tank of gas a month.

I would recommend that if you DIY you should skip the warranty and budget accordingly.

If you take the vehicle in for repairs, the policy WILL save you money. The policy will pay for itself with the first repair.

YOU MUST LOOK OVER THE TERMS AND CONDITIONS OF THE POLICY BEFORE PURCHASING, THERE ARE MANY DIFFERENT LEVELS OF COVERAGE AND OPTIONS AVAILABLE FROM A VARIETY OF PROVIDERS...BE FAMILIAR WITH THE COMPANY YOU ARE DEALING WITH



SMG owners should look into this. Any smg repair will double the cost of the policy for the entire 3 years worth of coverage. Other than that your looking at a convenience factor and that peace of mind knowing all the major (unaffordable) components of the vehicle are covered.



It is something to seriously consider regardless of the experiences others have had with other known scam companies (U.S Fideles is a prime example) I dont dismiss all women because a few were insane...

Personally, I dont have a warranty on mine because I DIY.
If you dont then it really is something to think about, especially if your ballin on a budget.


Pm me for details I will be glad to provide any information necessary. Plan options vary based on vehicle information and driving habits.
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Old Thu, Mar-14-2013, 02:55:51 AM   #10
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Default Re: Extended Warranty should I or not

Quote:
Originally Posted by <//M View Post
I wouldnt say they are ALL crooks, only some ...

sounds like you purchased a warranty from a third party provider. There are many scams out there and you must be careful who you are dealing with. Its also worth it to look over the entire policy before purchasing. The main thing you should be concerned about is "limits of liability" meaning a cap on the pay out for repairs for each category. You must purchase a warranty with no limits of liability from an established credible provider.


I currently work for the largest supplier of auto warranties nationwide with the highest rating. I can cover the vehicle for less than the cost of a tank of gas a month.

I would recommend that if you DIY you should skip the warranty and budget accordingly.

If you take the vehicle in for repairs, the policy WILL save you money. The policy will pay for itself with the first repair.

YOU MUST LOOK OVER THE TERMS AND CONDITIONS OF THE POLICY BEFORE PURCHASING, THERE ARE MANY DIFFERENT LEVELS OF COVERAGE AND OPTIONS AVAILABLE FROM A VARIETY OF PROVIDERS...BE FAMILIAR WITH THE COMPANY YOU ARE DEALING WITH



SMG owners should look into this. Any smg repair will double the cost of the policy for the entire 3 years worth of coverage. Other than that your looking at a convenience factor and that peace of mind knowing all the major (unaffordable) components of the vehicle are covered.



It is something to seriously consider regardless of the experiences others have had with other known scam companies (U.S Fideles is a prime example) I dont dismiss all women because a few were insane...

Personally, I dont have a warranty on mine because I DIY.
If you dont then it really is something to think about, especially if your ballin on a budget.


Pm me for details I will be glad to provide any information necessary. Plan options vary based on vehicle information and driving habits.


My family owns a repair shop and I am the one dealing with the extended warranty claims. I've dealt with all kinds of companies... each and everyone of them were crooks. The best one I have yet dealt with was actually Geico's extended warranty program. It only applied to the FIRST OWNER of the car and your deductible is 250,- per incident per job. But they pay for EVERYTHING and pay my labor hour without question. They even pay for diagnosis...


I'd like to hear from you who you think is the best extended warranty company so I can refer my customers to them. PM me if you don't want to mention it in public.
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Discussing Extended Warranty should I or not in the E46 M3 (2001-2006) Forum - Engine: S54 - Max Hp: 333 hp at 7,900 rpm / 262 lb/ft at 4,900 rpm
Total Produced: 45,000+ - Years Produced: 2001 to 2006. at BMW M3 Forum.com (E30 M3 | E36 M3 | E46 M3 | E92 M3 | F80/X)