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I know this probably gets asked a lot, but I don't see any recent threads on an Extended Warranty with what I'm looking for. My 2017 Clubman S All4 6-speed manual will be out of warranty in June 2020, 37K miles on it now. I just bought it at the end of Feb from a private party and haven't received anything from MINI about extending the warranty surprisingly, I thought I would get something to compare what my dealer quoted me. I registered it with MINI USA as soon as I got my registration and confirmed with them the remaining warranty, for 3 months, transferred to me. I've had a CNA warranty in the past thru CarMax, it was called MaxCare, but was actually CNA in the contract and it paid out over $5K in repairs on my 2008 HIghlander, $3K was for a Transfer Case leak, dealer had to pull the transmission, 19 hours of labor. It also covered a Water Pump, steering shaft and 2 heated seats.
Here are the 3 options I'm considering. It is a 6-speed so I know if the clutch goes out it won't be covered under any warranty
MINI, my local dealer, Schomp 5 year / 100K = $5600 Here at Schomp we use CNA National’s Preferred Care Plus.
AAA - Also thru CNA - This is the one I'm leaning towards if I do one at all The AAA certified Vehicle Service Agreement is comprehensive coverage or what most people refer to as “bumper-to-bumper.” All the computers, sensors, electronics, the engine, the transmission—everything is covered except a short list of wear and tear items. (See attached list.) The deductible is $0 if you take the vehicle to any AAA certified mechanic or any AutoNation dealer. ($200 deductible out of network.) The coverage is transferable if you sell the vehicle (increases your re-sale value) or refundable if you trade the vehicle in. If you have one claim, it can easily pay for itself. It’s great peace of mind. Pricing recap: 5 year, 100k = $3809 5 year 125k = $3909 6 year 125k = $4186
Route 66 - thru my local Credit Union - Canvas CU. Definitely the cheapest but I have read really mixed reviews on Route 66, surprisingly though most positive reviews come from Porsche and BMW forums so I think it's a pretty reputable company. Does anyone have experience with them ? 5 year / 120K = $2,585 (All prices are very similar, a 4 year / 75K is only about $200 cheaper and a 7 year / 120K is only about $200 more
Also, on almost every car forum I've been on there is normally at least 1 or 2 contacts people mention frequently, "call this person at this dealership" and they have substantial discounts because they specialize in selling the factory extended warranty in bulk.and of course you can buy a extended warranty from any dealer in the country and it will be same one you can buy from your local dealer, everyone is going to have a different price though. I haven't found this for MINI's. If anyone knows of a contact they recommend please let me know
put the same money in the bank ..... odds are you come out better , , , ,
been discussed MANY times ...
Thanks, but really not what I'm looking for and not helpful at all. So the F54 must be very reliable, I can expect to Not have $4K in repairs for 5 years ?
@Capt_bj What has been your personal experience with the F54 as far as repairs, I don't see that you have an F54 listed in your profile ?
So if I have a 2007 Land Cruiser, can I tell someone with a 2017 Land Cruiser they don't need a warranty based on my experience with a 2007 even though they are very different vehicles ?
Doing a search on this F54 forum I see the last Extended Warranty thread was 2016, https://www.northamericanmotoring.co...-warranty.html
I'm asking because I would like to have some some updated opinions on if people are using their extended warranty.
No personal contacts for you but I recall reading many posts about people successfully shopping MINI warranties. I'm almost always against the warranty but with a used MINI experience has taught me that fixing these things at the dealership will eat up the money fast. On our 2011 Countryman I believe I would have done better with a warranty.
The dealer quote you showed, shows how much markup they have to deal with. Huge difference in price vs. AAA.
What I always remind people is that these products are designed and priced so that the house wins. For the few who come out ahead, the vast majority purchase peace of mind, for a substantial cost which is not usually recovered. Grind hard on price.
The MINI factory-sponsored Extended Service Contracts have a smaller profit margin for dealers than the 3rd party products, as a general rule. Thus many have succeeded in negotiating deeper discounts with the third party contracts. In any case, "How much will you discount this if I'm ready to purchase it today?" is a good question. Also good to preface this with, "I'm shopping around for both features and price, so please give me your best price so I can compare it to the other offers I will be considering."
Also, always clarify the length of coverage you're buying. These products are often marketed as "5 year" contracts when, in fact, it's 5 years from original in-service date of the car. So the factory coverage is 4 years/50K miles, thus a five year/100K contract is really one year/50K miles. So be sure you know how many EXTRA, post-factory warranty years and miles you're buying.
And MAKE SURE there aren't any exclusion traps regarding scheduled maintenance. Some people have discovered that, because a factory recommended scheduled maintenance (usually no more than an oil change) wasn't done within a few miles/weeks of the scheduled miles/time requirement, an otherwise "covered" repair is denied.
Finally, if an inspection/assessment is required to determine if a repair is covered, is that inspection cost covered even if the repair is not??
As time has passed, these ESC products are getting tighter and tighter -- lots of chutes and ladders that allow the companies to deny coverage, so, read the contract carefully and understand all the exclusions, and, yes, grind hard on price.
I agree. Save your money. When I bought my new JCW Clubman 10 days ago the MA didn't even mention my buying one. Which I appreciated. I've been to dealerships where they make that like going to one of those time share sales presentations (remember those?). You almost have to fight your way out of there while they keep lowering the price. Lol.
You mentioned your estimate of $2,400 in coverage benefit so far. What was the original cost of the plan you purchased? Which specific plan did you get?
Thanks for all the replies so far, very good info. If I do get one I'll definitely keep this Forum updated with each and every time I use it.
Originally Posted by 2017All4
Didn't know there's a plan that covers rotors and pads, that's cool. Most extended service contracts exclude "wear" items, like brakes. https://www.miniusa.com/content/dam/...erageGuide.pdf
You mentioned your estimate of $2,400 in coverage benefit so far. What was the original cost of the plan you purchased? Which specific plan did you get?
Thanks!
The Maintenance Warranty is separate, I'm really not considering it, I have a really good independent MINI specialist close to me who will be cheaper than the dealer for wear items I can't do and I get satisfaction out of working on what I can for the wear items like replacing rotors and pads. Haven't done it on the MINI yet but have on other cars I've owned.
I was quoted the $2450 for the Maintenance warranty by my local dealer. This would be in addition to the $5660 for the Extended Warranty that doesn't cover wear items.
"You are also eligible for maintenance warranty which would cost $2249.00 and covers all brakes and maintenance till June 16th of 2023 or 100k miles." https://miniusaservice.com/minimaintenance
Right. When cmt52663 referenced a 100K warranty plan, I assumed he was talking about a mechanical breakdown/repair plan that included maintenance, as opposed to the MINI Maintenance+ plan, which is not a warranty.
Semantics aside, here's what it comes down to in my mind. The longer one keeps a vehicle, or the harder one uses a vehicle, the greater the likelihood of a repair expense. Modern vehicles are often expensive to repair.
The question is how best to hedge against future repair costs?
I will gladly spend $100 to save $200. I would spend $5,000 to save $6,000. The question for me is, if I spend 5 grand on an ESC and then I have a 6 grand repair, have I saved 6 grand, or have I saved 1 grand? Would I spend 5 grand on the chance I might save an additional thousand on a 6 grand repair? Or would I rather gamble, bank the 5 grand, and, when the 6 grand repair came up, negotiate it down to 5 grand and call it even? But if the 6 grand repair involves a tow and two nights on the road in a hotel.... maybe having that comprehensive platinum coverage will be a godsend.
Some of us handle this hedge through leasing, which has its own set of opportunity costs, starting with a $925 up front lease fee just to get into a MINI lease. In 9 years/3 leases, that's $2,775 "opportunity cost" to drive away from the dealer in a new vehicle, built just as I want it, every three years. In exchange for that $2,775, if one doesn't exceed allowed mileage by much, the cars are always under warranty and routine services are covered. Gas and go. But you never own anything -- just renting the lifestyle. The payments never end.
Some people hedge by purchasing a near-new lease return CPO, with a big chunk of the front end depreciation paid for by the first owner. My $42,000 2017 Clubman S All4, fully loaded, with 20,000 easy miles on it, probably sold in 2019 to a happy second owner for a little more than half of the original MSRP, plus tax. Throw an "overpriced" $5,000 extended service contract into the mix, and, for well under 30 grand out the door it almost works.
I've leased, bought new and driven for 200,000 miles, bought CPO used and traded in just before the extended warranty period ended.... every way one can imagine.
As someone who hates to give car dealers one dime more than I have to, yet being someone who is addicted to new car smell, I know those dealers are gonna get my loot one way or the other, sooner or later.
So I try to remember this: The money is made when you buy, not when you sell. So I grind hard on every aspect of every car acquisition negotiation.
Extended Service Contracts are for those who are fairly sure they're gonna be facing stiff repair bills during the ownership period or are not in a financial position to be blindsided by an expensive repair, or just like to have whatever peace of mind that ESC buys them, whether real or imagined.
But we all know that all of these plans are designed to make money for those who sell them, not to protect the buyers. Whatever protection is purchased, it's expensive insurance.... unless you need it for a big repair. If the big one happens, the owner of an expensive ESC is the smartest guy on the block.
You pays your money and you takes your chances. All I ask is that, if you buy a contract, you do your best to pay as little as possible for the most comprehensive coverage you can get.
Update: since my original warranty expires in 2 days, 6/16/2020, I decided to do it. You can be sure no matter how minor the repair over the next 8 years I will keep this thread updated to show how I fare and will be very interesting to see what issues I have on the Clubman over the next 96 Months. .
If I do sell if before 8 years then it can be transferred to the new owner or I can get a pro-rated refund. I don't really drive more than 10K miles per year so I went for the 8 years instead of 6yr / 125K. and the extra 2 years of coverage was about $500 more.
I bought it thru AAA and the warranty is from CNA Preferred Care+
Update: since my original warranty expires in 2 days, 6/16/2020, I decided to do it. You can be sure no matter how minor the repair over the next 8 years I will keep this thread updated to show how I fare and will be very interesting to see what issues I have on the Clubman over the next 96 Months. .
If I do sell if before 8 years then it can be transferred to the new owner or I can get a pro-rated refund. I don't really drive more than 10K miles per year so I went for the 8 years instead of 6yr / 125K. and the extra 2 years of coverage was about $500 more.
I bought it thru AAA and the warranty is from CNA Preferred Care
Thanks for the update. So, 88,000 miles/96months of coverage for $4,723 = 18.6 cents/mile or $49.20/month. So, if you spend over $50/month in covered repairs, or have a biggie a couple of times in the next few years, it works out.
What this excellent coverage example demonstrates is that good coverage is available at a price and, if a $5,000 major covered repair happens, you're golden.
Most important, it's done and paid for and, for $4,723 now, you've capped your liability for the risk of future major repairs. The cost/benefit is, obviously, if lightning strikes you have pre-paid for the damages and, perhaps more important to you, you bought enough peace of mind to make the $4,723 investment worth it to you.
Here's to many years of trouble-free motoring. Keep us posted!
