Oops, sorry. I don't mean an extended warranty, as I know that the BMW CPO program gets you to 6yrs/100,000 Miles, and covers the major components. My understanding is that this is about the Oil Changes (synthetic around what, 10K / 15K miles) and the Type 1 / Type II service (costs unknown) and a guestimate brake job for $850 at the dealer but probably $600 from someone I know.
If you want to stick with a BMW dealer for service - the extended maintenance is a good thing. It has to be purchased while the original factory maintenance is still in effect. Wish I could get it for my E46/M3 - where a Service-II runs from $1,200-2,000 depending on the dealer (seems California is the most expensive..)
You can pretty much plan - that IF you use the miles so you're near the
100k mark when the extended maintenance expires it will have paid for at least 1 Service-II, perhaps 2 depending on how hard you drive the car, 2 Service-I's, and 4 oil changes. Brakes are usually a 40-50K mile item depending on how hard you drive the car - so if you get one set under the original maintenance, you'll probably get another set under the extended warranty.
If you add all those up - you're looking at perhaps $2,000-2,500 worth of service, and you're paying somewhere near half that for the contract. Good deal - IF - you actually do put the miles on. That is where the catch is - I suspect most BMW owners don't put that many miles on their cars, so BMW makes out on the contracts.
Certainly if you're comfortable with an independent - who can do the work and document it so your CPO warranty stays in effect - it will probably cost you about the same amount to have it done by the independent as the contract costs - perhaps a bit more.
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