[German1967]

Originally Posted by Ronin76

This is something I have been thinking about as well. Prior to looking into getting the G87 I was really set on a Cayman GTS 4.0 or a CPO 991.2. Over on Rennlist there is a monster thread on the Fidelity Platinum Warranty (basically bumper to bumper) that the guys over there were buying. The coverage seemed to be pretty solid and they spoke highly of it. The newer the car and lower the milage would get you the best price (understandably so).

I spoke to one of the guys who were selling that warranty and I got a quote for $3,530 for 120 months and 100k miles with a $250 deductible. I really thought about getting this but what keeps sticking in my head that bothers me is kind of what JABCAT said. The 1st 4 years are already covered by BMW. So in a sense I am paying for the 1st 48 months and I won't be able to use it because the car is already covered under BMW.

I decided I will probably pass on the initial purchase BUT will look at it again as I get closer to the end of the BMW new car warranty. I do plan on keeping this car for 8 to 10 years so I would like to have some peace of mind and and bumper to bumper warranty would give me that. I know going this route I risk the cost increasing because the car will be older and will have more miles (I think when you pass 20k miles the price moves to the next price range) but that is something I am willing to accept. I know there are guys in this forum and other car forums who are against these warranties but everyone's risk threshold is different. I am more risk adverse and this will make me feel [...]

I bought the fidelity for my 992 when it had less than 10k on it. I view this as an insurance policy for high end repairs (eg PDK). No different than any other liability policy. For those additional 6 years I thought it was priced very reasonably.

[Ronin76]

Originally Posted by German1967

I bought the fidelity for my 992 when it had less than 10k on it. I view this as an insurance policy for high end repairs (eg PDK). No different than any other liability policy. For those additional 6 years I thought it was priced very reasonably.

That is how I feel about it. I can handle the “normal” or “everyday” type repairs but something that can cause engine damage I would like to have something to protect me from that. I am thinking before getting to 20k miles I will look into it? I don’t yet. Obviously getting it when the car is new gives you the best price but the 1st 4 years I will already be covered by BMW.

[German1967]

Originally Posted by Ronin76

That is how I feel about it. I can handle the “normal” or “everyday” type repairs but something that can cause engine damage I would like to have something to protect me from that. I am thinking before getting to 20k miles I will look into it? I don’t yet. Obviously getting it when the car is new gives you the best price but the 1st 4 years I will already be covered by BMW.

True, but typically you don’t get coverage post 10y/100k, ie if you wait till year 4 you may only get coverage for additional 6y/60k miles and at a higher cost. So in the end you pay more for the same coverage. Worthwhile to inquire.

[Ronin76]

Originally Posted by German1967

True, but typically you don’t get coverage post 10y/100k, ie if you wait till year 4 you may only get coverage for additional 6y/60k miles and at a higher cost. So in the end you pay more for the same coverage. Worthwhile to inquire.

Yeah, that is the battle I have been having with myself. Who did you go with for your 992?

[German1967]

Originally Posted by Ronin76

Yeah, that is the battle I have been having with myself. Who did you go with for your 992?

PM me

[Highline-Autos.com]

Originally Posted by Ronin76

Over on Rennlist there is a monster thread on the Fidelity Platinum Warranty (basically bumper to bumper) that the guys over there were buying. The coverage seemed to be pretty solid and they spoke highly of it. The newer the car and lower the milage would get you the best price (understandably so).

I spoke to one of the guys who were selling that warranty and I got a quote for $3,530 for 120 months and 100k miles with a $250 deductible. I really thought about getting this but what keeps sticking in my head that bothers me is kind of what JABCAT said. The 1st 4 years are already covered by BMW. So in a sense I am paying for the 1st 48 months and I won't be able to use it because the car is already covered under BMW.

I decided I will probably pass on the initial purchase BUT will look at it again as I get closer to the end of the BMW new car warranty. I do plan on keeping this car for 8 to 10 years so I would like to have some peace of mind and and bumper to bumper warranty would give me that. I know going this route I risk the cost increasing because the car will be older and will have more miles (I think when you pass 20k miles the price moves to the next price range) but that is something I am willing to accept.

We are Fidelity retailers and are apart of the thread mentioned on the Porsche forum. One thing really quick is that the 10 year / additional 100K coverage is only available to vehicles under 10K miles, not 20K.

No matter how you slice it, purchasing the coverage while under the 10K mileage based pricing tier cut off, you're better off if you plan on keeping the vehicle vs. waiting until you're 10K+ miles. The pricing is so much cheaper, as you climb the mileage based pricing tiers, you're essentially adding an additional 100% of the base 0-10K mileage tier every time you enter a higher mileage based pricing tier.

Any Fidelity extended warranty questions you can reach me at my contact information below!

Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777

[JABCAT]

^^^ why should I buy an extended warranty with under 10k mi, or under 36k mi for that matter? The vehicle is fully covered for 4/50, so it's just throwing away $$.

[ajchoi]

If you drive a ton and wanna beat the crap outta the car without mods I feel like this is a great insurance plan. Otherwise it’s probably not worth it

[captain slowly]

I had a great experience buying a Fidelity warranty when I had my GTI. Cost just over $2k, but over the next 3 years it covered ABS pump, water pump, timing chain tensioner and control arm bushings. All that would have cost me over $6k easy. So it all depends on how reliable these cars are. I didn't buy an extended warranty on my F87 because I read up on potential problems and felt comfortable enough, and never had a problem with the car. The new M2 seems fairly robust from what I read, so I won't be buying a warranty when it gets here next month.

[Zatellia]

Originally Posted by JABCAT

^^^ why should I buy an extended warranty with under 10k mi, or under 36k mi for that matter? The vehicle is fully covered for 4/50, so it's just throwing away $$.

Is it 4/50 or is it 3/36? I dont remember what it is.

[JABCAT]

Originally Posted by Zatellia

Is it 4/50 or is it 3/36? I dont remember what it is.

BMW is 4/50. So buying extra coverage, that won't be used during that time is throwing away money.

[Bret]

Originally Posted by ajchoi

If you drive a ton and wanna beat the crap outta the car without mods I feel like this is a great insurance plan. Otherwise it’s probably not worth it

Most modifications to the engine, transmission, etc. cause the extended warranty to be voided, so that would make it a poor purchase in my book

[Highline-Autos.com]

Originally Posted by JABCAT

^^^ why should I buy an extended warranty with under 10k mi, or under 36k mi for that matter? The vehicle is fully covered for 4/50, so it's just throwing away $$.

As explained in my post, coverage is significantly cheaper while under 10K miles.

2023 BMW M2
Miles: UNDER 10K

Fidelity Platinum:
120 months / additional 100K miles (Coverage until 2034 / 50K miles over factory)
$100 Deductible
-$4,782

or

4 years and 50K miles later... before yearly rate adjustments.

2023 BMW M2
Miles: 50K

Fidelity Platinum:
60 months / additional 60K miles (Coverage until 2032 / 50K miles over factory)
$100 Deductible
-$8,585

Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777

[JABCAT]

Originally Posted by Highline-Autos.com

As explained in my post, coverage is significantly cheaper while under 10K miles.

2023 BMW M2
Miles: UNDER 10K

Fidelity Platinum:
120 months / additional 100K miles (Coverage until 2034 / 50K miles over factory)
$100 Deductible
-$4,782

or

4 years and 50K miles later... before yearly rate adjustments.

2023 BMW M2
Miles: 50K

Fidelity Platinum:
60 months / additional 60K miles (Coverage until 2032 / 50K miles over factory)
$100 Deductible
-$8,585

Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777

That doesn't explain why someone needs to buy coverage with less than 10k mi (because they don't), it just shows you charge them less for the same coverage they can get later. They're still spending money for coverage they don't need & can't use in the first 4 years unless you rack up 50k mi. Your coverages (and every other extended service contract provider) are misleading - it's not 100k mi, it's 50k mi.

What they should do is put that $4,700 in an interest-earning account & they'll be fine when their factory coverage expires.

[Highline-Autos.com]

Originally Posted by JABCAT

That doesn't explain why someone needs to buy coverage with less than 10k mi (because they don't), it just shows you charge them less for the same coverage they can get later. They're still spending money for coverage they don't need & can't use in the first 4 years unless you rack up 50k mi. Your coverages (and every other extended service contract provider) are misleading - it's not 100k mi, it's 50k mi.

What they should do is put that $4,700 in an interest-earning account & they'll be fine when their factory coverage expires.

Fidelity's rates are based on mileage tiers, the lower the mileage, the lower the tier, the less coverage costs....

No one is being misleading, I have both the total term length and "extended" term length explained for both.

Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777

[Bret]

Originally Posted by Highline-Autos.com

Fidelity's rates are based on mileage tiers, the lower the mileage, the lower the tier, the less coverage costs....

No one is being misleading, I have both the total term length and "extended" term length explained for both.

Trenton O. Gibson

Are these extended warranties transferrable when you sell the car? And/or, can you get a refund on the unused portion of the warranty?

[Highline-Autos.com]

Originally Posted by Bret

Are these extended warranties transferrable when you sell the car? And/or, can you get a refund on the unused portion of the warranty?

Correct!

Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777

[captain slowly]

Originally Posted by JABCAT

That doesn't explain why someone needs to buy coverage with less than 10k mi (because they don't), it just shows you charge them less for the same coverage they can get later. They're still spending money for coverage they don't need & can't use in the first 4 years unless you rack up 50k mi. Your coverages (and every other extended service contract provider) are misleading - it's not 100k mi, it's 50k mi.

What they should do is put that $4,700 in an interest-earning account & they'll be fine when their factory coverage expires.

No one NEEDS to buy anything. With that out of the way, you're being obtuse. Its obviously much cheaper to buy the warranty that will cover you from 50-100k when the car is new or under 10k miles then it is for you to buy it when the car already has 50k on it. Simple as that. If you don't believe in extended warranties, that's fine, just say it.

[JABCAT]

Originally Posted by captain slowly

No one NEEDS to buy anything. With that out of the way, you're being obtuse. Its obviously much cheaper to buy the warranty that will cover you from 50-100k when the car is new or under 10k miles then it is for you to buy it when the car already has 50k on it. Simple as that. If you don't believe in extended warranties, that's fine, just say it.

It's not being obtuse at all. Here are the facts:
1. It's not a 10 yr/100k warranty as advertised. I'm not singling out this company, all companies including oems advertise their extended service contracts (they're not warranties) this way.

2. If you buy it at point of sale or within 10k mi as is being discussed, you're paying for "coverage" you don't need & can't use. That's why they offer it at a discounted rate. They know the average new car buyer isn't keeping their vehicle beyond or much beyond the factory warranty, so they get your money for something they never have to provide. In the case above that's $4,700.

3. It's transferrable (often for a fee), or you receive a pro-rated refund if you sell the vehicle before it gets into the extended period. So let's say you buy the extended service contract at point of sale & sell/trade the vehicle at 44 months and 48k mi. You will only receive a refund of a portion of the money you paid for that extended service contract you purchased ~4 years ago.

4. The likelihood you'll need more than $4,700 worth of repairs after the expiration of the factory warranty is very slim.

5. Anyone who pays $8,500 for this extended service contract on what will likely be a $30k value vehicle after 4yr & 50k mi, again does not have much financial sense.

I don't dislike extended service contracts. I've purchased them on several of my vehicles. On my Wrangler JKU I purchased a Mopar plan that covered the vehicle up to 125k mi (65k beyond the factory powertrain & 89k past the bumper to bumper). It cost me $1,200 for $0 deductible. The price of the plan increased by $150 - $200 if you were between 12k & 36k mi at time of purchase. That was worth it to me. When I sold the vehicle with 61k mi on it, I paid the $50 transfer fee to the new owner.

Also purchased a Subaru Gold plan for my daughter's CPO Impreza we got her for college. Paid $1,700 for coverage and all scheduled maintenance up to 120k mi and 7 years beyond the factory warranty. Car had 20k when we purchased it. Had I waited until the end of the factory warranty to purchase, the price of the plan would've been $2k (not double like the plan above). Again worth it so she didn't have to worry about any out-of-pocket expenses for the vehicle while in college and after.

The bottom line with the above plan is you're paying $4,700 for coverage you don't need, can't use, and most likely will never use because you'll get rid of the vehicle before the plan goes into effect. If that's what one wants to do with their $4,700, more power to them. The much smarter play would to keep that $4,700 growing in an account and pay for any repairs that may pop up after 4/50.

[Bret]

Originally Posted by JABCAT

5. Anyone who pays $8,500 for this extended service contract on what will likely be a $30k value vehicle after 4yr & 50k mi, again does not have much financial sense.

I can't imagine that anyone would ever buy that. It's likely put there to make people think that the lower priced low mileage option is a bargain by comparison. Of course, if a sucker does come along and buy it, then I'm sure they'll take the money.

My friend that worked for Honda finance said that the retail price of the extended warranties was right at about twice what the dealerships paid for them.

Then there's the whole issue of third party extended warranties (or service contracts or whatever they're technically called). Involving a third party that already has your money and literally has a financial incentive to deny you coverage and disagree with the dealership is just asking for headaches. It virtually never makes financial sense to purchase an extended warranty, but if you're going to do so save yourself a lot of aggravation and stick with the ones from the auto manufacturers.

I said that it virtually never makes financial sense to purchase an extended warranty, but there are exceptions. When I purchased my 2017 Jaguar F-Type, part of the deal was that I would purchase an extended warranty. I could cancel the extended warranty right at a year and get 100% of my money back. The dealership got $500 for selling the extended warranty. I cancelled it and got a check in the mail for what I paid for it. By going through this hassle, I saved $500 on the car, so it was worth it.

[RootsTootsMagoots]

Originally Posted by E34_518i

is $3075 a good deal for 7-year 1000000-mile BMW's own extended warranty?

I got several quotes from BMW dealers, both local and online. The $3075 was the lowest that I got. It's for my 2023 M2 and the quote is for the BMW "Platinum" plan that's supposed be the highest level for BMW's own extended warranty. It took me a long time to finally find a finance manager was willing to go that low. (probably helps that it's now the end of the month and he needed to fill some quota?)

It will essentially cover me for 3 extra years after the original warranty expires. My thinking is that if anything major breaks, the bill will most likely be $2000 or $3000. So if I use it just once during those 3 years, I basically break even. (if not, BMW wins, but I still have the peace of mind those 3 extra years)

Or is it wiser to save the $3075 and take a chance?

OP, what dealer gave you this deal?