Did anybody opt for an extended OEM warranty through the mini dealer? If so what did you pay and how long did it cover? I got a quote for $5000 for seven years 100,000 miles today mini factory warranty and that just seems like an awful lot

 

I'm not a warranty buyer generally. I sure wouldn't fork over $5000 for one.

You don't have to buy one now, you have several years to decide. You can also price shop them as it is a high commission item and they have room to negotiate.

 

Skip it. The extended warranty is just a dealer profit opportunity.

 

Funny I was just talking to my cousin about this yesterday. I used to have a Mercedes and I bought their extended warranty. I did shop around first and ended up finding a dealer that sells it for a lot less.
The good thing about their extended warranty is that if you don't use it, you get your money back less 10%. I ended up trading in my car and didn't use the warranty and was able to call up that dealer and they cut me a check.
Is there such thing for Mini/BMW?

 

Before seriously considering purchasing any extended service contract, obtain a copy of the entire warranty document and read it all. It is unlikely that it is a true full extension of the original factory warranty, but rather a limited extended service contract. It is also deceptive when they say it is a seven year/100,000 mile warranty. The original factory warranty is 4 years/50,000 miles, so, at best, they are selling you a 3 year/50,000 mile extension -- and there are limitations contained in that extension.

As to pricing, always ask for the manufacturer's suggested price. Assume there is a substantial mark-up at the MSRP level, and it is often the case that dealers mark up the price from there.

Shop around as any MINI dealer can sell you an extended service contract.

It is rare that value is ever received on these products, and there are usually all sorts of limitations and exclusions and requirements for service. Sometimes they are purchased for peace of mind, but if that is a concern, perhaps placing the funds that would otherwise be spent to purchase the contract into a savings account is better self-insurance. The money is there if you need a big repair, and it's still there if you don't.

In effect, these products are insurance. Some protection for a price. A few do benefit, but, for the scheme to work, just as with any insurance product, the house wins most of the time in order for it to be profitable. And it is profitable. Many dealers net thousands per unit sale on the various add-on products. For some dealers, the add-ons are their main profit center on the car selling side of their business.

Buyer beware. Start here: https://www.miniusa.com/content/dam/...erageGuide.pdf