Have an 03/03 build JCW (is this what is called a "craptastic?") with 31k miles. I just purchased an extended warranty - which I can still get out of - that goes to 5 years from now and 100k mi.from current odometer. $2400 warranties the whole car and does not exclude the JCW parts ($0 deductible and $100 towing)
The company is Continental Warranty. (1) Does anyone have experience with this company and (2) has anyone found a better deal I should look into?

 

Be very very careful with aftermarket warrenties. I've been told to steer clear of them.

-Cody

 

I'd put the $2400 in a separate account at 5% or whatever the best you can get is, and use it to fix the MINI if needed.

You might want to take a look at this:

http://www.ripoffreport.com/reports/ripoff196620.htm

 

Having worked as a service advisor, I know that working with aftermarket warranties (not sold through the dealer) can be tough to work with. Typically they will only pay a certain labor rate (which is usually way below what dealerships charge) and you also have to pay out of pocket and then get reimbursed (which can take some time). Just some warnings to be aware of.

 

What he said. Save the money and if you dont use it, you have a windfall!

 

Pretty much what everyone else said...but also...

If you absolutely want an extended warranty, check with your dealer as to which ones they accept. Otherwise, as Meg said, you will need to pay out of pocket and get reimbursed by your warranty company.

 

Very true. My brother was a Honda tech and now with Acura. He said third party extended warranty is a PITA to work with. He said if you really want to get one, get it through the factory. But as for as I know BMW/MINI do not offer factory extended warrany.

 

A friend of mine has used: [FONT=Arial]http://www.warrantydirect.com/[/FONT] with good success. He has recuped his cost for each vehicle (Vette and Yukon). I believe he has to file for reimbursement, but he says it is really straightforward.

 

Sorry I agree with myzamboni and disagree with the rest. If you plan to hold your car for 5 or 6 years, and drive it 15,000 to 20,000 miles a year, an aftermarket warranty is a good deal.

I have done this for the last 3 cars representing 10 years of driving and near 205,000 (70,000+ miles on the 1st two and 65,000 on the last). These were all GM cars. All were bought at about 2-3 years old with about 30,000 miles on them. I bought the $0 deductable 6 year plan in all 3 cases. All cost about $2400. The first car an Oldsmobile, I made about $1000 (my repairs excluding wear and tear items were about $3400). Second car a Buick, I made about $300. Third car is still being driven by my Mother-in-law, we are within $500 of the original investment and she still has 10,000 mile and 1 year to go. The Mini warrantly will cost about $2800 at about 20,000 miles on the car, payable over 10 months. At that point, I know that any item on the car, excluding brakes, tires, blades, clutch, etc that breaks, is covered and as long as I get preapproved by Warranty Direct, they pay the repair facility directly.

For example (not a comprehensive list) my last repair was for a rear window mechanism that failed on the last Buick. Dealer charged Warranty Direct $400, I paid nothing. Car before that needed a new AC Compressor, and alternator and rear brake mechanism, I paid nothing, except for brake pads and labor to put them on. I won't even talk about the Oldsmobile.

And the warranty is transferable, so 5 years from now when you are selling your Mini with 90,000 miles on the next buyer can have piece of mind that the Mini is sound. I enjoy driving, I just like to lock in my upside investment and you do that with an extended warranty. The only risk in my mind is if the Mini turns out to be more dependable, like our Honda, verses tired and having problems at 80,000 miles like our GM products. I'll post back here in 2010/2011 when the warranty runs out... Michael

 

[quote=mistro ... an aftermarket warranty is a good deal.
[/quote]

There is always going to be ancedotal data because insurance is always risk based. Before spending thousands on this type of insurance (and it is insurance), read this http://www.carnutgarage.com/warranty/Warranty_3.html

 

[quote=mistro ... an aftermarket warranty is a good deal.
[/quote]

Let me append that by saying when you buy from a reputable company that has staying power; that you plan on keeping the car for the term of the insurance both in years and miles; and when you buy a car that is not super reliable...

 

Touche

 

Yeah, now the question is... Is the Mini Cooper more like a Honda, or a GM car in terms of reliability? That I don't know.

 

A few people have gone well over 100K miles with very minimal or no problems in '02 and '03 MINIs which are deemed to be the least reliable of the bunch. I can only hope later model years will go to 200K miles like any other Japanese product.

At the end of the day, if you take care of your car from its early years, it will take care of you during its triple digit mileage years as well.

 

A "few" people does not a reliable car make.

The mere fact that so many people are constantly in for warranty work is disturbing.

 

Perhaps, Chows.

I guess I have been fortunate enough to own 3 MINIs that have required next to none warranty repairs or unscheduled repairs. I am quasi-obessive when it comes to maintenance and that has paid off over the years. Take care of the car and the car will take care of you.

 

So poop or get off the pot . . .is an extended warranty from a reputable company worth it or not?

 

I already answered that. Read http://www.carnutgarage.com/warranty/Warranty_3.html and make up your own mind.

The hard cold facts are that the only ones who win at this are the people who SELL those warranties. Do the math, figure the odds, and decide for yourself.

C4 has a point in that some cars are doing fine. I know several people with 2002s who are very happy. I also know someone with a 2005 who has had about EVERY major part of the drivetrain changed under warranty. Go read the threads on blown engines and you decide.

 

I could agree but I dont have enough data points to really know. I was just at a meet and greet Saturday and there were people there very happy with their 2002s ... and no rust.

Then again, one guy had a new engine put in and gaskets blown twice on a 2005.

Time will tell

 

Why are you posting this, C4? My '03 is excellent. There have been a few issues, but it is the most reliable car I've ever owned. Is there an article or specific report that you can direct me to where it has been established that '02s and '03s are deemed to be the least reliable?

 

Hey C4...I'm quasi-obsessive when it comes to car maintenance and I have an '05 MCS that has had a clutch & flywheel replaced, cylinder head/head gasket/valve train, bypass valve, 2 seats, and carpeting/insulation/some wiring (because of a problem with the evaporator hose from the a/c)...oh and now there is rust on the door sills. So, "take care of the car & the car will take care of you" really only works if the car was put together correctly from the factory with parts that continue to work.

Don't get me wrong...I absolutely love this car. At this point, nearly the whole thing has been rebuilt by my dealership.

 

Thank you -- you just saved me all that typing, and I couldn't have made that point any better myself.

Clo -- I think it's basically anecdotal, based on the experiences of early (02-03) MINIs versus their newer counterparts. There were several issues that were caught on the early models and subequently corrected. And you could blindfold youself, chuck a dart and hit on a thread about an 02-03 MC/S in trouble or having issues (and chances are even better that it's a thread i've started )

 

I have an 03 MCS and I have been obsessive about repairs too. I've probably had about 40 things repaired under warranty! My final warranty repair tomorrow is a new glove box with lock and repair of the hanging rusted exhaust.

I'm not sure how the long term reliability is going to go, but I've been expending a lot of effort to make sure my car is well-maintained. I've been at the dealer every Friday for the last 3 weeks. As far as an extended warranty, I've made friends with some local repair people, and think I can get my car repaired at a reasonable price when it's necessary. I do question the quality of BMW/MINI parts when so many things have broken very early. My Integra's door handle and cable never broke.

 

The hard cold facts are that the only ones who win at this are the people who SELL those warranties. Do the math, figure the odds, and decide for yourself.

C4 has a point in that some cars are doing fine. I know several people with 2002s who are very happy. I also know someone with a 2005 who has had about EVERY major part of the drivetrain changed under warranty. Go read the threads on blown engines and you decide.[/quote]

What this thread makes clear is that every Mini - and caretaker - produces its own breakdown/repair experience. Like liability insurance, the company makes money on the careful drivers and loses on the bad ones. The company makes its profit by actuarialy averaging their loss experience. The warranty coverage, unlike the libility policy, does not raise your premium if you have a Mini that breaks alot.

But, back to the insurance coverage. I read the policy last night. The term "breakdown" is defined as "Failure due to defects in workmanship of a covered part to perform the function for which it was designed by the manufacturer." One could consture this to mean that NOTHING is covered by the warranty because EVERYTHING that goes wroong on a car is because it wears out. I would think a design or materials defect would show up during the 4/50 warranty. Also, the salesperson told me that I never have to lay out cash for the repair because the company authorized payment via its corporate credit card to the repair facility. The contract says they have the option to reimburse me. Ther salesperson also told me that only original Mini parts will be used for the repair. The policy says that aftermarket (sincew NAPA doesan't carry Mini parts, will they give me ALTA, etc?) and remanufactured parts are the first choice. My gut is telling me that I ought to pay attention to the three rule.

 

I know people that have purchased extended warranties (not thru dealerships) with the same story of "company authorized payment on company credit card" and the dealer they were using would not accept it. They have had to pay first and then get reimbursed by the warranty company. The only way to know for sure is to contact the dealer you use for maintenance & repairs and see if that would be accepted.

I think you are right to be concerned about the 3 rating...that is your intuition speaking to you.