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      10-31-2021, 06:21 PM   #1
jkovac1
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Warranty

Bought the m3 comp. I purchased the 4 year warranty including brakes, etc. and i also got tire and rim protection. worth it? what are you guys doing?
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      10-31-2021, 06:33 PM   #2
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Do you mean the extended service? I didn't do any of the optional maintenance/warranty offerings. I may add the extended factory warranty depending on how long I keep it. There's a dealer offering discounted factory warranties on here and the price is good up to 20k miles.
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      10-31-2021, 06:34 PM   #3
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Such a hard answer. Your best bet to to try to calculate your service cost based upon your past history. Do you curbed a lot of rims or drive hard requiring brakes often? For most people, it's a money loser as the insurance company would go out of business if they paid out more than they collected. I don't get it. Never did. Sure I had a few incidents over the years but I'm tens of thousands ahead in saved premiums.

I only buy insurance to protect me from a big financial hit. Not for normal every day stuff.
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      10-31-2021, 07:01 PM   #4
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Such a hard answer. Your best bet to to try to calculate your service cost based upon your past history. Do you curbed a lot of rims or drive hard requiring brakes often? For most people, it's a money loser as the insurance company would go out of business if they paid out more than they collected. I don't get it. Never did. Sure I had a few incidents over the years but I'm tens of thousands ahead in saved premiums.

I only buy insurance to protect me from a big financial hit. Not for normal every day stuff.
Thanks for your insight. As to the hard driving, I don't think that'll be a problem at all. Plus, i probably won't track it (maybe a few times later down the line). However, in the event I need brakes, I don't want to have to pay for them. Same with any unexpected potholes or curbs.
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      10-31-2021, 07:47 PM   #5
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Quote:
Originally Posted by jkovac1 View Post
Thanks for your insight. As to the hard driving, I don't think that'll be a problem at all. Plus, i probably won't track it (maybe a few times later down the line). However, in the event I need brakes, I don't want to have to pay for them. Same with any unexpected potholes or curbs.
Well, you've paid up front for brakes and unexpected potholes/curbs that may not happen.
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      10-31-2021, 09:03 PM   #6
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Quote:
Originally Posted by jkovac1 View Post
Thanks for your insight. As to the hard driving, I don't think that'll be a problem at all. Plus, i probably won't track it (maybe a few times later down the line). However, in the event I need brakes, I don't want to have to pay for them. Same with any unexpected potholes or curbs.
Well, you've paid up front for brakes and unexpected potholes/curbs that may not happen.
Right i paid once for an unlimited amount of changes within a certain period of miles.
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      11-01-2021, 05:31 AM   #7
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Quote:
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Quote:
Originally Posted by HTTP 410 View Post
Quote:
Originally Posted by jkovac1 View Post
Thanks for your insight. As to the hard driving, I don't think that'll be a problem at all. Plus, i probably won't track it (maybe a few times later down the line). However, in the event I need brakes, I don't want to have to pay for them. Same with any unexpected potholes or curbs.
Well, you've paid up front for brakes and unexpected potholes/curbs that may not happen.
Right i paid once for an unlimited amount of changes within a certain period of miles.
True but the House generally wins which is why the margins on these policies are big money makers for dealers and insurance companies. Few people ever tell you about the bets they lose, only when they win big which is rare or the casinos (and insurance companies) would go out of business.

Regardless, it sounds like you had already made up your mind and posed hear looking for confirmation.
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      01-08-2022, 11:17 AM   #8
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Quote:
Originally Posted by jkovac1 View Post
Bought the m3 comp. I purchased the 4 year warranty including brakes, etc. and i also got tire and rim protection. worth it? what are you guys doing?
I did this for 7 years/ 72k miles.. by my math if i can wear out the brakes once it pays for itself.

Last car i wore out the brakes by 25000(3years) miles and clutch by 36000 (4years)
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      01-08-2022, 11:29 AM   #9
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You're just paying upfront for a bunch of stuff you may or may not need. I'd rather have the money put aside and pay for it if I bend a rim. Brake pads etc are just regular consumables. If I was driving it very hard it may make sense but BMW wins with this offer on average. They wouldn't make the offer if it wasn't in their favor on average
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      01-08-2022, 08:38 PM   #10
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I think this discussion is missing one very important point. For most of the F&I office items, such as the extended service contract (what most think of as extended warranty) and the wheel and tire package (now part of BMW’s platinum combo coverage), if and when you sell the car early, you can get back a pro-rated portion of what you paid (based on mileage or time, whichever gives you back less), less a nominal ($50 usually) admin fee for the termination.

With BMW’s plan that appears to be discussed above (I think they call it ultimate care plus?), where you basically get wear items (clutch, brakes, spark plugs, wiper blades etc.) added to the covered maintenance, you CANNOT terminate early and get a pro-rated refund. So the analysis for this one needs to be different. The typical “the house always wins, so they only offer the product because your expected value as the buyer is negative”-type analysis does not necessarily hold true for the ultimate care plus. Because in BMW’s underwriting, they must be factoring in not only their expected payout based on vehicle, mileage and time, but also their expected percentage of people who will sell the car early and not get a refund. Which allows BMW to still make money, while offering a product with a positive expected value for many buyers.

I always add the $700ish package to add clutch, brakes and spark plugs into the first 3/36 maintenance. I expect the first brake job, and possibly plugs, before 36k. A $700 oem brake job is a no-brainer all day long on these cars (to also get a good chance of getting plugs, and if things go sideways, a clutch within 36k), and if for some reason I lose $700, I won’t be happy but it’s not the end of the world.

Ironically, when I bought my G80, I wanted to do the ultimate care plus out to 5-7 years and something like 70k. Figured 2 brake jobs, maybe 2 sets of plugs, and if luck is terrible, a clutch. It was shockingly expensive, but still a good deal IF I keep the car long enough and drive it enough to get all of those replacements free. And guess what…the F&I manager, as a friend, actually talked me out of it (because I tend to flip cars too quickly, the likelihood of that changes the math so that I’d expect to lose thousands).

In summary, the BMW plan to add wear items to the maintenance coverage can be a solid deal for the customer. But you need to think long and hard about how long you’ll keep the car, and how much you drive it. Otherwise, you would be one of the people that statistically just hand BMW money when you sell the car early.
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