I just purchased a 2001 E46 with 24,000 miles. It's out of factory
warranty because it is a 2001 model, but I bought an extended warranty
to 100K. On closer reading of the warranty contract, I noticed that I
overlooked the fact that the warranty is only valid if I have the oil
changed every 3 months or 3000 miles. The car currently says that my
next oil change will be due in 12500 miles. Has anyone had experience
with extended warranties with this 3/3000 requirement on a BMW, where
the scheduled oil changes are so much longer? I have 30 days to cancel
the warranty without penalty, and I think that is what I will have to
do unless someone has a better alternative to suggest.
Generally, extended warrantys benefit the provider of the warrantee, not the
consumer. Essentially, you're paying a premium for peace of mind and/or
insurance against bad luck. The warranty won't cover the normal and
somewhat expensive things that will need to be done prior to 100K (brake job
is the most likely candidate). Then again, the cooling system might need
extensive work in the first 100K and if you can't DIY, a water pump,
thermostat and radiator can be pricey even at an independent shop.
If you really want the extended warranty, find out what BMW would charge for
the service. It might be more, but with not such an obvious hidden cost.
R / John
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