Yes I think it is based on Odometer miles not 125k + odometer at purchase. May be wrong.
It says ācoverage to odometerā so picking the 100k plan means coverage ends at 100k, regardless of whether you started at 19 or 59.
Noticed while adding a new car with GEICO that they have below insurance. Not sure if anyone has tried it.
Says:
This coverage is only available for vehicles with less than 15,000 miles that have been purchased within the last 15 months. A $250 deductible per claim applies.
Mechanical Breakdown Insurance covers repairs to the following systems:
| Engine | Steering | Air Conditioning |
|---|---|---|
| Transmission | Cooling | Brakes |
| Drive Axle | Suspension | Electrical |
Geico trying to become relevant again. Curious the terms and costs of these warranties. They have been hemorrhaging customers
MBI was an option from GEICO when I bought my 2002 (not a typo) Accord, and every lease after that while I had them. I did not keep the car long enough for it to ever pay out, but I did pay for it back then.
Whatever the premiums are, add those up through the end of the warranty term to see how much that āpeace of mindā costs before it ever pays out? If you are 100,000% certain you are keeping that for 10 years, unless it was grossly unreliable out of the gate Iād probably still opt for an extended warranty that covers Infotainment and some electronics.
If you were buying a gas Fiat 500 and not an extended warranty, MBI might be worth it.
So itās covered by the factory warranty then?
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Yes, I guess you need to begin the coverage before 15k miles and then continue as long as you want I guess. But you canāt add it once past 15k.
I used their MBI with my BMW to the tune of them covering close to $6K in repairs. They increased my premium ridiculously at my next renewal which basically made me switch. I got a great return as my premium for MBI I think was under $150/6mo.
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Thanks does sounds pretty good use of their warranty. I plan to take it when I get close to 15K mark.
It doesnāt cover much as far as I can tell
I decided to start exploring the idea of a carmax warranty 750i as a daily driver and aborted pretty quickly. 2016 750xi, warranty was around 11k for the 50 deductible 100k mile one, didnāt bother exploring the other ones.
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Find one under 50k miles for 75k warranty.
Thanks, @conanohasselhof
Iāve never dabbled in the higher mileage cars at carmax, and I think they have raised their warranty prices significantly recently. But for comparison I am looking at a 2015 cayenne turbo w/44k miles and the warranty is ~3200 for $50 deductible and $2500 for $300 deductible.
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Shame that too many people presumably abused the policy.
Thanks for the heads up
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We canāt have nice things.
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That was a real nice perk. I returned mine after ~20 days.
If you line everything up right, 10 days is still enough time for a PPI and to return if needed.
Let me understand that while i have never done this before.
In NY You pay sales tax and registration upfront.
I guess You are not getting this back. Am I correct?
Nope, you get it back, and they eat the cost.