So far, I am planning onto holding on to my '04 MCS for a few years after the factory 4 year/50K mile warranty expires. Since BMW/MINI does not offer extended warranty contracts of thier own like GM or Ford does, the only other option left is to obtain aftermarket warranty coverage. (I honestly don't understand this company policy).

For those of you planning on keeping your cars for a long time, what aftermarket warranties have you purchased or considered? Deductibles? What's covered and what's not? have you use a particular aftermarket warranty company before? the good, the bad and the ugly?

While this is not an immediate worry (I still have a bit over 3 years left on my factory warranty) I think it is a good idea to start gathering valuable info before the time comes when making a decision.

Also it is hard to predict the future. Right now I intend to keep my MCS for as far as I possibly can, but also I may trade/sell the car before the end of the warranty, etc. You never know, so it is important to keep all options open.

I personally think that owning a complex car like the MINI without warranty coverage in its later service years is a bit suicidal financially speaking. Parts and labor for these cars are very expensive, so I view the purchase of an aftermarket warranty contract as both peace of mind and relative cheap insurance if something ever goes wrong with the car.

I keep on top of the maintenance to minimize or eliminate as much as possible future problems from happening, but still I am not too comfortable with the idea of having a car out of warranty with a standard labor rate north of $100 per hour.

I will also consider independent BMW/MINI shops for work/repairs/maintenance.


Thoughts? Comments?

 

i live in california so to avoid paying over mrsp i purchased my mini at charleton mini in south carolina. they are owned by the henderson group who also own pleasanton mini in the bay area. they sold me an extended warranty at the time of purchase that covers everything up to 80,000 miles with a $50. deductible my choice of shop. sounded good at the time, an extra $20 dollars on my monthly payment. first time i have even considered doing this but i like the henderson group, they have been involved in racing for many years and have done a lot for the mini since its arrival in north america. you could give them a call and check it out... hope this helps.

 

Up here north of the 49th,I got a 5 year,95k miles warranty.Costs me about $20 CND a month.Now with the millage I put on I will hit miles in 4 years ish.
But if and when the turbo MC comes out ,I'm thinking of trading in.
I do high millage,cold winters,so I don't want or need any big ticket surprises.
I love driving MY MINI,but in a heart beat I could love the next one.It is only a car eh

 

My MINI hit the 50,000 mark, so I looked into it. I was quoted prices that ranged between $1200 to $1900. For those prices, you could just make a down payment on a brand new MINI.

 

If you're going to get one of these, make sure you fully understand what's covered and what's not. Also, be aware that some policies (maybe they all do this...) permit them to use non-OEM parts (ie, not factory parts) for repairs.

I've only gotten such a policy once and I ended up using it. As it turned out, the amount of the repair matched the amount I paid for the coverage within ten bucks (of course...). And, btw, they used a non-OEM part for the repair.

I have my doubts about the long-term reliability of the Mini so I plan to get rid of it before the warranty expires, instead of worrying about extended coverage.

 

Like I said maybe in 3 years when the factory warranty expires I'll decide whether I keep the car or trade up to a new one (2007 model).


However, sometimes getting rid of a car just because I do not want to sheel out $1,500+ for an extended warranty (Specially if the car has been reliable) is not the most financially sound advise either.


No one wants to keep a problematic car, and no one should get rid of a decent car just because I don't want to pay for an extended warranty.
get my drift?

 

Yeah, but the economics of that decision are skewed by the Mini's extremely high resale value (at least around this area). It might make more sense to sell and buy another one -- fresh Mini, fresh warranty.

In fact, in the premium pricing areas like California, it might even make economic sense to get a new one every year to take full advantage of the prevailing market conditions.

 

Very true.