Keep or get rid of BMW, extended warranty, etc questions

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The Dark Knight
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Keep or get rid of BMW, extended warranty, etc questions

Post by The Dark Knight » Fri May 04, 2012 6:06 pm

Another car question from me. I own a 2008 BMW 328i with 25000 miles. I'll lay out the options I am contemplating first and then explain:

(1) Keep the car, don't get extended warranty

(2) Keep the car, get extended warranty. I can get an extended warranty through BMW that will cover for 3 more years up to 70,000 miles for around $3,000.

(3) Trade in car for midsize sedan around the $20,000 range.


So the warranty/ free maintenance on my BMW will end in a couple of months. First issue is whether I should keep the car knowing BMWs cost a lot to maintain. If I do keep it, worth it to get that extended warranty? (Will cover repairs but not ordinary maintenance).

I can trade the car in and get something around $20,000 ala the Mazda 6, Honda Accord, Camry, etc.

I've done a pretty involved cost analysis and considering how much more the BMW will depreciate, the cost of owning will be roughly the same for the next 5 years between keeping the BMW and getting a new car in the $20,000 range that depreciates fairly slowly (like the cars I mentioned).

I do like driving the BMW, but on the other hand it was one of those "I want to own one before I die" things. Now that I've experienced it, I could do without it, especially if it's going to cost me an arm and leg to maintain.

thomase
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by thomase » Fri May 04, 2012 6:18 pm

Can you do any of your own regular maintenance or minor repairs? I'm assuming your car is already paid for, you might as well keep it and drive it into the ground. Even if you have to pay for regular maintenance you don't have to use the BMW dealer. I would 1 or 3, I wouldn't get an extended warranty.

The Dark Knight
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by The Dark Knight » Fri May 04, 2012 6:20 pm

thomase wrote:Can you do any of your own regular maintenance or minor repairs? I'm assuming your car is already paid for, you might as well keep it and drive it into the ground. Even if you have to pay for regular maintenance you don't have to use the BMW dealer. I would 1 or 3, I wouldn't get an extended warranty.
Nope, not a "car person", nor do I really want to learn. Yea, car is paid off.

I'm just worried about some major issue (such as the transmission failing) and costing me 8k or whatever it is for a BMW. I know that would be very rare for a car under 7 years old/ 70,000 miles, but still...

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Jerilynn
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Jerilynn » Fri May 04, 2012 6:29 pm

The Dark Knight wrote:
thomase wrote:Can you do any of your own regular maintenance or minor repairs? I'm assuming your car is already paid for, you might as well keep it and drive it into the ground. Even if you have to pay for regular maintenance you don't have to use the BMW dealer. I would 1 or 3, I wouldn't get an extended warranty.
Nope, not a "car person", nor do I really want to learn. Yea, car is paid off.

I'm just worried about some major issue (such as the transmission failing) and costing me 8k or whatever it is for a BMW. I know that would be very rare for a car under 7 years old/ 70,000 miles, but still...
I assume you have a BMW dealership that's convenient and does good work. If that's the case that's +1 for keeping the car. Now, $3k sounds high for a 3 year ext warranty, I'd check on-line with some other ext warranty offers and see if it's in the ballpark.
I would probably self-insure rather than pay the $3k.
Also, you would have to consider if you keep the vehicle without the warranty is there a better place to take it rather than the dealership.
Also, consider insurance costs.

I think it really comes down to how much you like the car.
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)

The Dark Knight
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by The Dark Knight » Fri May 04, 2012 6:32 pm

Jerilynn wrote:
The Dark Knight wrote:
thomase wrote:Can you do any of your own regular maintenance or minor repairs? I'm assuming your car is already paid for, you might as well keep it and drive it into the ground. Even if you have to pay for regular maintenance you don't have to use the BMW dealer. I would 1 or 3, I wouldn't get an extended warranty.
Nope, not a "car person", nor do I really want to learn. Yea, car is paid off.

I'm just worried about some major issue (such as the transmission failing) and costing me 8k or whatever it is for a BMW. I know that would be very rare for a car under 7 years old/ 70,000 miles, but still...
I assume you have a BMW dealership that's convenient and does good work. If that's the case that's +1 for keeping the car. Now, $3k sounds high for a 3 year ext warranty, I'd check on-line with some other ext warranty offers and see if it's in the ballpark.
I would probably self-insure rather than pay the $3k.
Also, you would have to consider if you keep the vehicle without the warranty is there a better place to take it rather than the dealership.
Also, consider insurance costs.

I think it really comes down to how much you like the car.
Well, that is one benefit of living in the SF Bay Area where I see BMWs everywhere... tons of competent independent shops.

hicabob
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by hicabob » Fri May 04, 2012 6:33 pm

I'd keep it and not get the warranty. It's a nice car and you've taken a large depreciation hit by now. 328 is a tried and tru model with a nice but basic engine (no twin turbos like the 335) - should run for 100k w/out problems.

stan1
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by stan1 » Fri May 04, 2012 6:48 pm

I have a 2010 335d which I love to drive (and bought for $11K under sticker including the now-expired federal diesel tax credit). The car is now discontinued in the US and internet rumors are that any subsequent 3-series diesel cars will have a smaller engine with high gas mileage (320d). I'm hoping to keep it for a long time.

I recently bought a 3 year BMW platinum warranty extension (up to 7 year/70,000) for $3000. Shop around; you can buy the warranty package from any dealer and it will be honored at all BMW dealers. There are a few dealers in the U.S. who will sell warranties at cost. A single failure of the navigation system, turbos, emission system, or any number of other components on the car could cost more than the warranty. I wouldn't get anything other than a warranty sponsored by BMW so that I know it will be backed up and will be good at any BMW dealership. Spending $3000 ($1000/year) is a lot less than paying for a new car. I won't know until 2017 whether it was the right choice -- but I'll sleep better. The 328i doesn't have the turbos or the diesel emission system -- so it is lower risk (and will cost less). I have a very good independent German specialist mechanic nearby, but he gets most of the parts from the dealership so the cost difference only the labor.

I did not get the extended maintenance. Like you, I don't drive enough to justify the cost.

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Toons
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Toons » Fri May 04, 2012 6:55 pm

Keep The Car and do not get the extended warranty

Agree with those that say self insure and not spend the 3k.
I have never purchased an extended warranty with any new car and if I had would have never had to use it.:happy

I owned a 1989 325I bmw for 18 years and never any transmission or engine problems.
That is not to say that major mechanical problems won't happen but I would maintain the car with proper service as required by BMW and to repeat ,,self insure
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

rwm
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by rwm » Fri May 04, 2012 7:09 pm

I owned an Audi A6 for 15 years, and did most of my maintenance. I sold it two years ago and bought a Nissan Altima. Like you, vanity is no longer the primary issue for me, and it was not hard to give up the Audi. It will get very expensive to maintain the BMW especially if you're not a hands-on person. Entry-level sedans are a lot better than they used to be, but it still pays to shop carefully. Check out Consumer Reports for unbiased non-boy-racer ratings.

gator15
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by gator15 » Fri May 04, 2012 9:16 pm

Don't trade in car. If its paid off keep the car. I personally wouldn't get the extended warranty. If I'm not mistaken, most warranties only cover major mechanical issues. I've bought extended warranties in the past and never used them. It was a waste of $3k to $4k. Cars are well made today, especially BMWs. If you need peace of mind and it's going to help you sleep better at night, get the warranty. Otherwise, I wouldn't get the warranty. Do you really think you will accumulate costs surpassing $3k in three years?

investor1
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by investor1 » Fri May 04, 2012 9:31 pm

There are a lot of bad replies in this thread (not typical for this forum). If you are not a car handy guy, owning a BMW out of maintainence is NOT a boglehead way of living.

Congrats! You had fun with the BMW. Sell it, buy something more reasonable, and live a happy life.

BogleBrit
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by BogleBrit » Fri May 04, 2012 9:34 pm

Go and test drive the other cars you think you would consider in the $20k range and then get back in your BMW and drive around a bit. I think that will make your decision for you....

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ClevrChico
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by ClevrChico » Fri May 04, 2012 10:06 pm

Your car is still a baby, I'd keep it and enjoy it. German cars can have their glitches (been there), but your BMW should be very durable.

stan1
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by stan1 » Fri May 04, 2012 10:30 pm

BogleBrit wrote:Go and test drive the other cars you think you would consider in the $20k range and then get back in your BMW and drive around a bit. I think that will make your decision for you....
+1. For $20K you are looking at a mid-level Civic out the door. A mid-level Camry or Accord is going to be $25K and up out the door. An Acura TSX might come closer to the BMW -- but its in the low 30s.

Userdc
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Userdc » Fri May 04, 2012 10:38 pm

Trade it in for a brand new Hyundai Sonata and a 10 year powertrain warranty.

Dave76
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Dave76 » Fri May 04, 2012 11:33 pm

Userdc wrote:Trade it in for a brand new Hyundai Sonata and a 10 year powertrain warranty.
I'm having a lot of problems with my 2012 Hyundai. My Hyundai is the first and last Hyundai I will ever own.

Dark Knight,

Buy a Chevy Caprice/Impala (1977-1990), Ford Crown Victoria/LTD or Mercury Grand Marquis (1979-2011). They're easy to maintain and parts are cheap. You can't go wrong with classic Detroit iron.

strafe
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by strafe » Fri May 04, 2012 11:54 pm

Keep the BMW. Skip the extended warranty. The N52 is a reliable engine. Your odds of spending more than $3,000 on repairs that would have been covered by the warranty are low. All cars eventually need repairs; trading in your car (which you should have some idea of its problems/reliability already) for another vehicle increases your risk of unexpected repairs.

If you're particularly risk averse, consider putting $3,000 in your emergency fund now.

stoptothink
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by stoptothink » Sat May 05, 2012 12:09 am

stan1 wrote:
BogleBrit wrote:Go and test drive the other cars you think you would consider in the $20k range and then get back in your BMW and drive around a bit. I think that will make your decision for you....
+1. For $20K you are looking at a mid-level Civic out the door. A mid-level Camry or Accord is going to be $25K and up out the door. An Acura TSX might come closer to the BMW -- but its in the low 30s.
Exactly the point he was trying to make.

rallycobra
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by rallycobra » Sat May 05, 2012 9:56 am

Our 328xi is a 2009 with 60,000 + miles. We actually got the car certified to extend the warranty to 6 yrs 100k. We were able to negotiate it down to less than 3k. The car needed new oxygen sensors at 53k which was covered. I change the oil every 10k, and just purchased new rear bmw brake pads and sensor for $100. We plan on keeping the car until the end of the warranty, and sell it with some warranty left for the next buyer. That way I feel like we will recover some of the certification cost on resale.

In your situation with a super low mile 328, I would skip the warranty and self insure. Especially if you are going to keep it for a while. You won't be able to replace with an equivalent vehicle without spending a lot of money. That model should be very reliable, and there is very little maintenance to do. Just do 10k oil changes with BMW approved oil, and plan on changing brake pads and rotors around 50k. An independant shop can do that for less than a dealer.
26% Total Stock Market/20% Total International/13% Small Cap Value/6% Reit/35% Intermediate Bond Fund | 65/35 Stock Bond 2:1 Domestic/International + Reit

LearningToSpend
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by LearningToSpend » Sat May 05, 2012 10:29 am

KEEP
THE
CAR

You are being advised to trade it for a rusted out Civic.

You can clearly afford the car, since it's paid off.
It's pretty much still new.
You've already taken a the biggest financial hit you'll take with this car.
The new car depreciation. Why sell now?

Don't get scared off by repair horrors.
The transmission is not going to die. Relax.

RULE NUMBER 1: DO NOT TAKE IT TO THE DEALER for repairs.
Your best bet is to do a little legwork and find 2-3 honest, reputable independent mechanics.
Call 10 places, and ask them to quote you the cost of a simple job like replacing the pre-cat O2 sensors or changing the valve cover gaskets. Compare prices.

Now, just enjoy it for a few more years.
It's not nearly as expensive as you think it is, and Jap cars break all the time anyway.

Don't fall into the trap of being a penny pinching miser.
You've splurged, so enjoy it.
The worst is already over.

Stop thinking of downsides, and look at the upside also.
This car can last you another 15 years.
It will NEVER go out of style.
A 10 year old BMW looks and drives and gets more compliments than a brand new Japanese car.
And it blows the driving out of the water.

fsrph
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by fsrph » Sat May 05, 2012 11:51 am

Keep the car.
Don't get the extended warranty.
Find a quality (non-dealer) repair shop to maintain and fix it.

Francis
"Success is getting what you want. Happiness is wanting what you get." | Dale Carnegie

Jim127
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Jim127 » Sat May 05, 2012 1:42 pm

LearningToSpend wrote:KEEP
THE
CAR

You are being advised to trade it for a rusted out Civic.

You can clearly afford the car, since it's paid off.
It's pretty much still new.
You've already taken a the biggest financial hit you'll take with this car.
The new car depreciation. Why sell now?

Don't get scared off by repair horrors.
The transmission is not going to die. Relax.

RULE NUMBER 1: DO NOT TAKE IT TO THE DEALER for repairs.
Your best bet is to do a little legwork and find 2-3 honest, reputable independent mechanics.
Call 10 places, and ask them to quote you the cost of a simple job like replacing the pre-cat O2 sensors or changing the valve cover gaskets. Compare prices.

Now, just enjoy it for a few more years.
It's not nearly as expensive as you think it is, and Jap cars break all the time anyway.

Don't fall into the trap of being a penny pinching miser.
You've splurged, so enjoy it.
The worst is already over.

Stop thinking of downsides, and look at the upside also.
This car can last you another 15 years.
It will NEVER go out of style.
A 10 year old BMW looks and drives and gets more compliments than a brand new Japanese car.
And it blows the driving out of the water.

Follow this advice. The 3 series BMW's are great cars with good reliability. As this person said, find a good independent mechanic. You can search the various BMW forums and find recommendations. I have a great one near me and the costs are no different than owning a domestic brand.

Dave76
Posts: 564
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Dave76 » Sat May 05, 2012 3:50 pm

Jim127 wrote:
LearningToSpend wrote:KEEP
THE
CAR

You are being advised to trade it for a rusted out Civic.

You can clearly afford the car, since it's paid off.
It's pretty much still new.
You've already taken a the biggest financial hit you'll take with this car.
The new car depreciation. Why sell now?

Don't get scared off by repair horrors.
The transmission is not going to die. Relax.

RULE NUMBER 1: DO NOT TAKE IT TO THE DEALER for repairs.
Your best bet is to do a little legwork and find 2-3 honest, reputable independent mechanics.
Call 10 places, and ask them to quote you the cost of a simple job like replacing the pre-cat O2 sensors or changing the valve cover gaskets. Compare prices.

Now, just enjoy it for a few more years.
It's not nearly as expensive as you think it is, and Jap cars break all the time anyway.

Don't fall into the trap of being a penny pinching miser.
You've splurged, so enjoy it.
The worst is already over.

Stop thinking of downsides, and look at the upside also.
This car can last you another 15 years.
It will NEVER go out of style.
A 10 year old BMW looks and drives and gets more compliments than a brand new Japanese car.
And it blows the driving out of the water.

Follow this advice. The 3 series BMW's are great cars with good reliability. As this person said, find a good independent mechanic. You can search the various BMW forums and find recommendations. I have a great one near me and the costs are no different than owning a domestic brand.
It may last another 15 years, but he will have to pour a lot of money into it. My parents' 1984 Volvo 240 needed an oxygen sensor twice. It's a $400 part. American cars cost much less to maintain. An O2 sensor for a 1985 Buick Century is $30.

Jim127
Posts: 68
Joined: Sun Mar 04, 2012 3:25 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Jim127 » Sat May 05, 2012 4:14 pm

Dave76 wrote:
Jim127 wrote:
LearningToSpend wrote:KEEP
THE
CAR

You are being advised to trade it for a rusted out Civic.

You can clearly afford the car, since it's paid off.
It's pretty much still new.
You've already taken a the biggest financial hit you'll take with this car.
The new car depreciation. Why sell now?

Don't get scared off by repair horrors.
The transmission is not going to die. Relax.

RULE NUMBER 1: DO NOT TAKE IT TO THE DEALER for repairs.
Your best bet is to do a little legwork and find 2-3 honest, reputable independent mechanics.
Call 10 places, and ask them to quote you the cost of a simple job like replacing the pre-cat O2 sensors or changing the valve cover gaskets. Compare prices.

Now, just enjoy it for a few more years.
It's not nearly as expensive as you think it is, and Jap cars break all the time anyway.

Don't fall into the trap of being a penny pinching miser.
You've splurged, so enjoy it.
The worst is already over.

Stop thinking of downsides, and look at the upside also.
This car can last you another 15 years.
It will NEVER go out of style.
A 10 year old BMW looks and drives and gets more compliments than a brand new Japanese car.
And it blows the driving out of the water.

Follow this advice. The 3 series BMW's are great cars with good reliability. As this person said, find a good independent mechanic. You can search the various BMW forums and find recommendations. I have a great one near me and the costs are no different than owning a domestic brand.
It may last another 15 years, but he will have to pour a lot of money into it. My parents' 1984 Volvo 240 needed an oxygen sensor twice. It's a $400 part. American cars cost much less to maintain. An O2 sensor for a 1985 Buick Century is $30.
Go on the BMW boards and look at the 3 series maintenance experiences by those that have owned their cars for years and use independent mechanics. Several items are also easy to do yourself. Most owners that keep these cars are able to get 200,000+ miles.

Dave76
Posts: 564
Joined: Sat Mar 03, 2012 9:05 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Dave76 » Sat May 05, 2012 4:29 pm

Jim127 wrote:
Dave76 wrote:
Jim127 wrote:
LearningToSpend wrote:KEEP
THE
CAR

You are being advised to trade it for a rusted out Civic.

You can clearly afford the car, since it's paid off.
It's pretty much still new.
You've already taken a the biggest financial hit you'll take with this car.
The new car depreciation. Why sell now?

Don't get scared off by repair horrors.
The transmission is not going to die. Relax.

RULE NUMBER 1: DO NOT TAKE IT TO THE DEALER for repairs.
Your best bet is to do a little legwork and find 2-3 honest, reputable independent mechanics.
Call 10 places, and ask them to quote you the cost of a simple job like replacing the pre-cat O2 sensors or changing the valve cover gaskets. Compare prices.

Now, just enjoy it for a few more years.
It's not nearly as expensive as you think it is, and Jap cars break all the time anyway.

Don't fall into the trap of being a penny pinching miser.
You've splurged, so enjoy it.
The worst is already over.

Stop thinking of downsides, and look at the upside also.
This car can last you another 15 years.
It will NEVER go out of style.
A 10 year old BMW looks and drives and gets more compliments than a brand new Japanese car.
And it blows the driving out of the water.

Follow this advice. The 3 series BMW's are great cars with good reliability. As this person said, find a good independent mechanic. You can search the various BMW forums and find recommendations. I have a great one near me and the costs are no different than owning a domestic brand.
It may last another 15 years, but he will have to pour a lot of money into it. My parents' 1984 Volvo 240 needed an oxygen sensor twice. It's a $400 part. American cars cost much less to maintain. An O2 sensor for a 1985 Buick Century is $30.
Go on the BMW boards and look at the 3 series maintenance experiences by those that have owned their cars for years and use independent mechanics. Several items are also easy to do yourself. Most owners that keep these cars are able to get 200,000+ miles.
I got my Volvo 240 to 210,000 and it was costlier than my Jeep Grand Cherokee, which reached 289,000.

The problem with cars built in the last decade is the parts and maintenance that have to be acquired and performed by dealerships. Special tools and diagnostic equipment are needed for proper maintenance. Also, some parts must be removed just to get to other parts! Everything in the engine compartments is covered up! It was never like that years ago. Open up the hood on a 1965 Ford Mustang or a 1980 Ford Fairmont and you'll see what I'm talking about. Technology is supposed to make our lives easier (simpler), but it has only produced more headaches.

:beer Here's to yesterday...

thomasbayarea
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by thomasbayarea » Sat May 05, 2012 6:04 pm

Any insurance product is designed to be profitable for the underwriter. Buy it for peace of mind, but never expect to profit from it. So don't get the extended warranty unless an $8000 bill is going to wipe you out financially.

LearningToSpend
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Joined: Tue Apr 17, 2012 9:45 am

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by LearningToSpend » Sun May 06, 2012 11:01 am

Dave76 wrote:It may last another 15 years, but he will have to pour a lot of money into it.
My parents' 1984 Volvo 240 needed an oxygen sensor twice.
It's a $400 part. American cars cost much less to maintain. An O2 sensor for a 1985 Buick Century is $30.
Your parents were robbed blind.
This is a $15 part.
http://www.fcpgroton.com/product-exec/p ... ory_id/169
Last edited by LearningToSpend on Sun May 06, 2012 5:54 pm, edited 1 time in total.

LearningToSpend
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by LearningToSpend » Sun May 06, 2012 11:03 am

Dave76 wrote:The problem with cars built in the last decade is the parts and maintenance that have to be acquired and performed by dealerships. Special tools and diagnostic equipment are needed for proper maintenance. Also, some parts must be removed just to get to other parts! Everything in the engine compartments is covered up! It was never like that years ago. Open up the hood on a 1965 Ford Mustang or a 1980 Ford Fairmont and you'll see what I'm talking about. Technology is supposed to make our lives easier (simpler), but it has only produced more headaches. ..
You couldn't be more wrong.

Those 2 cars you cited broke down and needed constant tune-up.
Plus, valves, points, etc. They also barely made it past 100k miles.

Today, cars get to 100k miles with not a single issue.
Today's cars blow away cars past on all fronts.

hicabob
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Location: cruz

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by hicabob » Sun May 06, 2012 11:22 am

LearningToSpend wrote:
Dave76 wrote:The problem with cars built in the last decade is the parts and maintenance that have to be acquired and performed by dealerships. Special tools and diagnostic equipment are needed for proper maintenance. Also, some parts must be removed just to get to other parts! Everything in the engine compartments is covered up! It was never like that years ago. Open up the hood on a 1965 Ford Mustang or a 1980 Ford Fairmont and you'll see what I'm talking about. Technology is supposed to make our lives easier (simpler), but it has only produced more headaches. ..
You couldn't be more wrong.

Those 2 cars you cited broke down and needed constant tune-up.
Plus, valves, points, etc. They also barely made it past 100k miles.

Today, cars get to 100k miles with not a single issue.
Today's cars blow away cars past on all fronts.

Oh!, for the old days of adjusting the valves on my 69 vw bug every 3000 miles when I changed the oil. They don't make 'em like they used to!

Dave76
Posts: 564
Joined: Sat Mar 03, 2012 9:05 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Dave76 » Sun May 06, 2012 12:12 pm

LearningToSpend wrote:
Dave76 wrote:The problem with cars built in the last decade is the parts and maintenance that have to be acquired and performed by dealerships. Special tools and diagnostic equipment are needed for proper maintenance. Also, some parts must be removed just to get to other parts! Everything in the engine compartments is covered up! It was never like that years ago. Open up the hood on a 1965 Ford Mustang or a 1980 Ford Fairmont and you'll see what I'm talking about. Technology is supposed to make our lives easier (simpler), but it has only produced more headaches. ..
You couldn't be more wrong.

Those 2 cars you cited broke down and needed constant tune-up.
Plus, valves, points, etc. They also barely made it past 100k miles.

Today, cars get to 100k miles with not a single issue.
Today's cars blow away cars past on all fronts.
You missed my point entirely. However, for the sake of argument, Chrysler's slant 6 engine is one of the greatest engines every created. GM's 231 V6 is another legendary 6. It's much better than the more recent 3.4 V6.

Simplicity means less costly repairs. The addition of numerous sensors means more complexity and costly repairs. Today's cars are totaled out far more than they used to be, and it's all because of the complexity of the automobile. If you get into an accident and two airbags inflate, it will leave you $2,500 out of pocket -- and that's just for the replacement of the airbags! Many of today's cars have 10 airbags. Other sensors and electronic equipment fail from time to time, and that makes today's cars expensive to maintain for the longterm.

http://www.automotiveit.com/adac-radar- ... /id-004869

Headlight assembly for Hyundai Elantra Touring -- $163 -- http://www.iautobodyparts.com/hyundai/e ... rts-0.html


Sealed beam headlight -- $9 -- http://www.google.com/products/catalog? ... MABEPMCMAI

rallycobra
Posts: 185
Joined: Sat Aug 23, 2008 9:40 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by rallycobra » Sun May 06, 2012 3:35 pm

Dave76 wrote:If you get into an accident and two airbags inflate, it will leave you $2,500 out of pocket -- and that's just for the replacement of the airbags!
It's a lot cheaper to change the airbags than to fix your face!

Modern cars require no maintenance before 100k generally. Just change the oil with synthetic every 10k to 15k. Brakes and tires at 50k. At 100k, change the air filter, spark plugs, and maybe wires.
26% Total Stock Market/20% Total International/13% Small Cap Value/6% Reit/35% Intermediate Bond Fund | 65/35 Stock Bond 2:1 Domestic/International + Reit

thomase
Posts: 141
Joined: Fri Feb 13, 2009 7:48 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by thomase » Sun May 06, 2012 4:37 pm

LearningToSpend wrote:
Dave76 wrote:It may last another 15 years, but he will have to pour a lot of money into it. My parents' 1984 Volvo 240 needed an oxygen sensor twice. It's a $400 part. American cars cost much less to maintain. An O2 sensor for a 1985 Buick Century is $30.
Your parents were robbed blind.
This is a $15 part.
http://www.fcpgroton.com/product-exec/p ... ory_id/169
LearningToSpend is right, knowledge is power, or in this case knowledge plus some do it yourself skills will save you a ton of money. Case in point, my '97 Accord check engine light came come with a faulty after cat oxygen sensor heater circuit code. Using the diagnostic instructions found via Google plus an ohm meter, I determined the oxygen sensor needed to be replaced. Via Google again, I determined the OEM sensor is made by Denso, found an exact replace on Amazon for $39. Local Honda dealer price for the sensor is $200 + $150 to install. Bought $7 sensor socket and changed it out myself. If you have a willingness to learn and do your own work, you can save a ton of money.

Sulvar
Posts: 293
Joined: Wed May 26, 2010 2:27 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Sulvar » Mon May 07, 2012 9:21 am

I wouldn't get anything other than a warranty sponsored by BMW so that I know it will be backed up and will be good at any BMW dealership.
You can shop extended warranties through any insurance company that you want. I know that GEICO offers them on most cars. It doesn't hurt to shop around. They will pay for the repair of your car if it is covered, whether at a dealer or an independent shop.
If you get into an accident and two airbags inflate, it will leave you $2,500 out of pocket -- and that's just for the replacement of the airbags!
If this happens your auto insurance will cover it. This has nothing to do with an extended warranty.

Finally, if BMW is selling this warranty for $3,000, they obviously expect the average repair cost for your car to be less than $3,000. Otherwise how would they make any profit?

stan1
Posts: 5819
Joined: Mon Oct 08, 2007 4:35 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by stan1 » Mon May 07, 2012 9:34 am

Finally, if BMW is selling this warranty for $3,000, they obviously expect the average repair cost for your car to be less than $3,000. Otherwise how would they make any profit?
If some one wants to spend the time doing internet research on the BMW boards /negotiating with dealers, it is possible to find a BMW extended warranty at 20% off retail price. That gives you a better chance of matching (or beating) the odds.

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HomerJ
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by HomerJ » Mon May 07, 2012 9:44 am

thomase wrote:Bought $7 sensor socket and changed it out myself. If you have a willingness to learn and do your own work, you can save a ton of money.
Willingness to learn is only half the equation. Where does one find a teacher?

Erwin
Posts: 1929
Joined: Fri Apr 27, 2007 11:16 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by Erwin » Mon May 07, 2012 9:48 am

The Dark Knight wrote:Another car question from me. I own a 2008 BMW 328i with 25000 miles. I'll lay out the options I am contemplating first and then explain:

(1) Keep the car, don't get extended warranty

(2) Keep the car, get extended warranty. I can get an extended warranty through BMW that will cover for 3 more years up to 70,000 miles for around $3,000.

(3) Trade in car for midsize sedan around the $20,000 range.


So the warranty/ free maintenance on my BMW will end in a couple of months. First issue is whether I should keep the car knowing BMWs cost a lot to maintain. If I do keep it, worth it to get that extended warranty? (Will cover repairs but not ordinary maintenance).

I can trade the car in and get something around $20,000 ala the Mazda 6, Honda Accord, Camry, etc.

I've done a pretty involved cost analysis and considering how much more the BMW will depreciate, the cost of owning will be roughly the same for the next 5 years between keeping the BMW and getting a new car in the $20,000 range that depreciates fairly slowly (like the cars I mentioned).

I do like driving the BMW, but on the other hand it was one of those "I want to own one before I die" things. Now that I've experienced it, I could do without it, especially if it's going to cost me an arm and leg to maintain.
If you like the car, it is already sunk money. I will drive it until either the car dies or I get sick off it! That has been my approach since my very first car.
Erwin

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flossy21
Posts: 425
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Re: Keep or get rid of BMW, extended warranty, etc questions

Post by flossy21 » Mon May 07, 2012 9:50 am

Go here --

http://forums.bimmerforums.com/forum/

Ask the people in the forum which is specific to your model what the issues/costs are typically for the car at your mileage and age. These folks are the bogleheads of the BMW world. They will give you much better data about the car and its maintenance expense going forward.

thomase
Posts: 141
Joined: Fri Feb 13, 2009 7:48 pm

Re: Keep or get rid of BMW, extended warranty, etc questions

Post by thomase » Mon May 07, 2012 2:18 pm

rrosenkoetter wrote:
thomase wrote:Bought $7 sensor socket and changed it out myself. If you have a willingness to learn and do your own work, you can save a ton of money.
Willingness to learn is only half the equation. Where does one find a teacher?
Admittedly I've always liked cars and working on them, and have always been mechanically inclined, not to mention that I'm just generally cheap but want to know a job is done correctly. I've never been taught by another person to do anything on a car, I learned from reading books and repair manuals. Also having cheaper cars to work on makes me braver to try things like timing belt replacements, headgaskets, struts, etc... Nowadays, there's lots of free information on the web and through forums related to car repair and maintenance. I suggest out small, like doing oil changes, airfilter, transmission fluid, coolant changes, work up to replacing brake pads etc...

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