Happy Friday everybody ! The factory warranty on my 2022 M550i is expiring on 09/10 and I have started looking into extended warranty options. The vehicle has 31k miles on it and is being driven only 1k to 2k miles a year. Ideally looking for 4 yr to longer term options with the least mileage allowance. Mainly looking for peace of mind to be honest as non-warranty fixtures scare me lol. I reached out to Highiline auto’s which I had found through here as a recommendation for a friends EQS but surprisingly the price quoted for my M550 was higher than the EQS. 3yr 100k miles around $5200.
Anyone has any experience to share specifically on the BMW’s on what companies to considered and if there are any to avoid? And any contacts that can be provided where I can get a e-quote will be really appreciated it.
thanks i already saw some of those threads and also on bimmerpost. I have started reaching out to some dealers for options. Prices have surged even on those recommended contacts.
At the same time, im trying to look for posts or knowlege from actual buyers of these warranty companies on how their experience has been with repairs etc.
I think so. I dont think there are any restrictions for Florida. Also the vehicle was initially leased new from an out of state dealer as well so not sure if thats gonna be any issue.
Lease buyouts have to be processed at the dealership if the captive has no physical branch in the state- if extended warranties have to be purchased from the dealer that’s a new one for me.
If Highline is quoting you a Fidelity Platinum plan, that’s usually the goto recommendation. The other direct provider is Endurance, who can e-quote. Rt 66 is an option offered by most credit unions. What I can share, from my non-BMW experience, is that I would start by asking the dealership or mechanic where you intend to use the warranty who they are willing to work with. Otherwise, you’re covering the cost of repair and submitting for reimbursement after the fact. What I found is most of my local franchise dealers wouldn’t work directly with any third-party warranty companies.
There is one thing that most dealers do not mention to you. For extended warranties, dealers can set up a company and use a big name (like Zurich) as a service provider for the extended warranty. What does it mean that they usually set up a company in a tax-free country (like the Bahamas), send all the premiums to that company, and let the service company manage the claims.
In high-maintenance cars like BMW, the best way for them is to put a nonsensical premium to make sure you go somewhere else.
Your best chance is (which I know you were very good at) to make a deal with a BMW dealer to convert your car to CPO when you buy it at the end of the lease. The CPO incentive is heavy for franchise dealers. The only problem with CPO is most of the manufacturer (not sure about BMW) is not refundable like an extended warranty, which can be refunded pro rata.
Contact these two managers for a quote: jeff.steel@passportauto.com and christinen@bmwofcamarillo.com. They’re well known in BMW communities for offering factory extended warranties and maintenance plans at competitive prices.
Thank you Sir ! I have already reached out to Christinen. Her email address is now vipfinance@bmwofcamarillo.com for extended warranty quotes. I will reach out to the second contact.
Thank you for the response. Thanks for sharing this input. Funny thing is my sister works for one of the top companies in the South Florida region for one of the biggest group that also owns a big dealer group here as well and she shared this with me a few months back. Its crazy how this concept works and you are 100% spot on when it comes to warranty prices for high end German automotives.
Unfortunately, I already bought out the car in March of this year and its paid off so note sure CPO is an option anymore. Thanks for sharing your input though as this could be a great idea for others.
Honestly, if the car is only being driven 1-2K miles per year, what is going to break? You should be covered throug year 4 by the BMW factory warranty. Are these 550s the ones that have the oil consumption issue?
I’d used the same SA at the Infiniti dealership for a long time, and he said they had good experiences with prompt payment by this warranty company, and that consumers were generally happy as long as they understood the coverage they were buying.
Note that this is an aged anecdote, for a different brand of car, and I never actually had to use the coverage. But I did put in quite a bit of research at the time, and would suggest at least taking a look.
Financial institutions who sell these Route 66 warranties can set their own prices, and at the time PenFed was quite a bit less than anyone else.
Of course, the main problem was dealing with PenFed. Like everything they touch, they were horrible to deal with.
I had to talk to multiple PenFed employees before I could convince anyone that they sold this product, which was featured on their web site.
Later I learned that they would only accept a credit card for payment if it was a card they issued, and then they treated the purchase as a cash advance, which triggers interest starting immediately and comes with corresponding cash advance fees).
And they weren’t able to accept payment from an outside bank account (ACH or debit card), only a PenFed account, and then not a PenFed checking account, only a PenFed savings account.
I got the promised pro-rated refund when I sold the car.
Omg lmaoooo what a find. @trism damn dude, how did I miss that you were a fellow LCI M550i owner. When exactly did u part with her and what u get next ?
Yeah as much as I love this car so much, there is no way I can take the risk of keeping it without warranty. Knowing my luck, I would probably get the same or even more issues as mentioned above on the day after warranty expiration. And also about my luck, I know if I buy the extended warranty, there is a very big chance this bit** wont act up at all throughout the new warranty period.
So far Im leaning towards the BMW platinum part as they make the most sense. I have 19k miles left to hit 50k and a 84/60k plan would give me 3 more years till Sep 2028 and 29k miles of coverage. Price is about $3200 to $3300. As the cars paid off, peace of mind fot next 3 years for under $100 isnt a bad idea.
Who was able to get you the best price for Platinum so far? I feel like i will be in the same boat in a couple months for the M850i.
@trism I’ve never had bubble in ANY of my cars over the last 20 years…and twice already on this bloody car. Feels like BMW tires are predestined for that!
Christinen mentioned above and dkim@saffordauto.com also mentioned or probably from bimmerpost are both around same. There are two more that were recommended but they havent gotten back to me. I will keep it posted here.
BTW, your lucky that they still build the M850i’s and you still have the option of getting into a new one. I just cant part with the last generation 5 series yet.
thanks i already saw some of those threads and also on bimmerpost. I have started reaching out to some dealers for options. Prices have surged even on those recommended contacts.
