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As a previous Finance Manager, you have to understand that Extended Warranties and Maintenance Plans are additional products. There is MARKUP.. obviously it's not free but should not cost more than if you were to do the services yourself. You are paying for the convenience. I just bought a Mini Cooper S 2012 for my wife and we bought the Extended Warranty for 5/100K $2195 and 6/100K Maintenance for $1695.
I figured that my wife's previous mini had some issues with AC and engine issues. Since she drives a lot figured we should just protect it and if sh*t hits the fan and things break we don't have to incur additional charges. A Brake job in a mini costs approximately $1400 at the dealership so 1 brake job after the 4/50K would pay for the maintenance plan alone. She went through 2 sets of brakes and rotors in her last mini.
We also added the Wheel and Tire protection plan for $995 because they claim that if you hit pot holes the wheel and tires are all protected, they also claim that they will do alignment if the pothole was the cause of misalignment. I have not used it yet so we'll see if holds up to what they claim. We live in the city and potholes are unavoidable. I told my wife that she should drive the sh*t out of this mini and if we get close to needing new tires just hit a few potholes.... to get free replacements.
Overall I do feel it's a decent value to cover the uncertainties of the vehicles these days. There are so many issues with cars and it's not so simple to diagnose any more.
I'm no longer in the Auto industry so I'm not trying to sell anything.. I just know that i wanted peace of mind for my wife when she drove this and we weren't going to have unexpected bills later on.
Someone also asked if you could get a refund on warranty's and the answer is "YES" Warranties are and insurance product and loosely regulated by the state. If you end a contract (original place of purchase) you are entitled to a refund, minus fees for administrative costs. Some Finance and Insurance (F&I) guys don't do this often because it's a lot of paperwork but if they are honest people they should process this for you. Note: it will take a couple of weeks to get any refund.
Somebody mentioned reseting the maintenance reminder. I don't think this will effect the warrantee. Here are several vids on how to do ithttp://www.youtube.com/results?search_query=Mini+Cooper+Reset+Service+Ind icator+Procedure&oq=Mini+Cooper+Reset+Service+Indi cator+Procedure&aq=f&aqi=&aql=&gs_sm=e&gs_upl=1285 9l12859l0l13297l1l1l0l0l0l0l369l369l3-1l1l0
this is a good one http://www.youtube.com/watch?v=Z0Zt5UywVR0
I was quoted almost 2K to extend my warrantee from Mini SF and after reading the first and last few pages here, it seems like a bad idea.
I think with the info you can get from the videos above, you can see what you need, reset and go to your own mechanic without the need of any engine reader.
Is this correct?
