Not an extended maintenance that covers only brakes or oil changes, etc.

I am speaking of a true bumper to bumper warranty that covers all repairs except for named exclusions. Would that be worth it for say a 7 year 100,000 mile period. Just curious because I am considering one of these.

 

I bought one through Habberstad for my 05 MCSC, totalled the car a month later before the warranty kicked in and they reimbursed me the full amount.
The warranty was through GE and I believe I paid about $3k for an additional 3 years/up to 100k miles.
If the top had needed to be replaced just once (and it had previously been replaced twice) the warranty would have paid for itself.

 

I am told the warranty does not kick in until the 49th month and anything over the 50K base warranty. They said that I would get the full amount back if I decided to sell the car and want the money instead of passing the warranty to the new owner prior to that period. Once the warranty kicks in, after 48 months 50k miles, then I would get a prorata back. Sounds pretty safe. Through AAA for about $2500. Does it sound worth it?

 

Wait a minute ...are you saying that AAA offers such a warranty?

-B

.

 

The extended warranty being sold by our local dealer (MINI of Mountain View, selling a third-party product) specifically excludes the convertible roof. We've not yet decided if it's worth the near $3K. We did extend the maintenance, though.

 

Yes they do. It is $2501 for 7 yr 100K
You need to speak to them, since the web does not calculate it.
Covers most, with a few minor exclusions.
This is not a maintenance (which I thought was expensive for oil changes etc.) and covers repairs including failed parts for wear and tear. (not brake pads or stuff like that). For instance.... superchargers, convertible top motors, major engine parts, brake systems, windows motors, electrical systems, etc etc. Look online for the Diamond Plan description for what is and is not covered.

Do you think it is worth it.

Oh by the way, they do it on a 1 yr interest free payment plan.

Steve

 

I'd say if it covers those wear and tear parts, it sounds worth it. With use, those parts WILL wear out. I've already noticed that my driver's window opens and closes much more slowly than the passenger one. The roof cries more when opening and closing now. Etc, etc. Might have to look into AAA myself now

 

Might want to also check and make sure that aftermarket parts will be covered. Unless you are going to leave your Mini completely stock .

 

There are stock MINIs out there?

 

You can actually do mods?

 

Wow ...if its all you say it is, YEAH its worth it. The factory extended warranty suffers by comparison:

1.) is almost twice that price
2.) there is no payment plan (though I suppose you could secure a seperate loan for it)
3.) there is no cash buy-out option - the warranty goes with the car, regardless

I will be looking into this in a few months when my original warranty fades. Many thanks for the tip!

-B

.

 

I guess it depends on the warranty company. I specifically asked about this and they said the fabric wouldn't be covered, but that any mechanical/frame parts would be.

 

FYI, Warranty Direct also covers the convertible top. Not sure if that's just the frame and motor or if the fabric is covered as well. Either way, due to the number of issues I've had with mine, I will definitely be getting one for my MINI before the factory one runs out.

The factory extended warranty is much more exclusive and comparatively expensive compared to the aftermarket warranties. You pay alot for the warranty paperwork to have the MINI logo on it.

 

is the extended warranty worth it when your modding your car? ihave 35.5k mi and i have lots of mods.. should i go ahead and get extended warrenty or its not worth it!...

 

I've got an extended warranty from Classic MINI in Mentor, Ohio. My reason for purchasing was the amount of miles I put on the car in a year. I've got 56,000 miles in a bit under 2.5 years, so I knew I'd go through the factory coverage pretty quick.

I think one of my axles is having issues so I'll see what and or how this warranty works next week when I ask them to look at the car. Hoping I get away with just a deductible payment and not get hit with the full cost of any repair.

 

i got my car in april of 06 and i have already put 35.5k miles on it im still debating if i should go ahead and get extended warrrenty or not! what do you guys think pls help thnx

 

The AAA warranty stated the actual material top ia not covered but all motors of the top and top mechanicals are covered.

 

I worked for a number of years for an insurance company that underwrote Extended Warranties. Through that experience I suggest the following:
Only insure those potential losses that present an unacceptable financial risk, such as your house (unless you can afford to replace it should it burn down).

If a catastrophic mechanical failure in your MINI will potentially cost more than you can afford, then buy the warranty. If you can afford to put an engine replacement on your Master Card, then do not buy a warranty.

Before you buy an extended warranty, make certain that the warranty really covers the big stuff (read the fine print), maker certain the warranty is underwritten by an A+ insurer, make certain your Warranty administrator has a good reputation for paying for repairs.

 

I would say Yes. At least you'll get a few more months (1-2 years) of warranty for any large items that may come up..

 

I am planning on getting a policy next month from: http://chryslerservicecontracts.com/ for a Mercedes and they said they will do our Mini also. You have to be within 48 months of the in-service date and with less than 48,000 miles. Their policies run between 50 to 100k miles for 5 to 7 years. Good prices and comparable coverages when I checked with other companies. Their website shows what’s covered.

 

Like E=mc squared, the simplest guidance is often the most profound. Thanks Malist, for the soundest advice I've seen yet in countless extended warranty threads.

I've been waffling on this, but you've helped me make up my mind. Most appreciated.

 

I have one for my 05 Cooper from warranty warehouse dot com. I had one on my GTi and it's paid for it's self three times over.

Read the FINE Print and still be ready to stand your ground and know what NOT to say if you should every need to use it.

INS companies are in the biz of getting cash, not giving it away.

 

+1 to the thanks for what seems like excellent, well-grounded advice. I, too, was debating this warranty, and this advice really speaks to me.

~Neal

 

So does anyone have any experience with Warranty Direct and can recommend this third party warranty? Went to a Mini dealer today and they were selling Fidelity Warranties....its a bit more than Warranty Direct and doesnt cover as much but if Fidelity is whats being sold to used Mini buyers than I may be inclined to lean that way.

Under most warranties I looked into the contract says they cover the "transmission" but unsure if that also means the CVT.....since the parts listed under the "internal parts" of the transmission doesnt seem to be CVT "internal parts"....wonder if they will include the "CVT" clause into my contract if I ask them to before purchasing.

 

First you have to ask yourself if you'll really keep this car for more than four years, or longer than the factory warranty. Most people do not. Even if right now you fully intend to keep it forever, look how many marriages fail after committing to "..til death do us part".

I've owned a lot of cars in the past 40 years, some of them really nice, and have never kept one even five years.

Finally consider the probablity that you will need repairs that exceed the cost of the extended warranty. The companies selling the warranty are betting that they will pay out significantly less than they take in. And they are very good at probabilities. Just my $0.02 worth.