My 4/50k warranty ends this august. Where can I purchase extended warranty at the lowest price? Do I just go to a Mini/BMW dealership and try to negociate with a salesman?

Also do you think it's worth it? How often will this warranty come in handy? Also what does it really cover? Oil change? engine problems?

 

I have been out of warranty since December. Personally, I don't think extended warranties are worth the money. And since BMW/MINI does not sell factory sponsored extended warranties in this country, my opinion, is that you will be much better off setting up an interest bearing savings account or a certificate of deposit (CD) and set aside that money for the very remote event that your car will experience a costly/catastrophic part failure.

But this is a personal choice. Ask yourself these questions:

1) Has the car been fairly reliable during the warranty period? Has it been problematic?

2) How many miles a year do you drive it?

3) Do you plan to keep it at least until 100K miles? Do you plan to keep the car for several more years and go above that mileage?

4) Do you have access to a good independent MINI mechanic in your area?

5) Do you do your own repairs?

6) What is the likely hood that the transmission/engine or other main component will blow up by the time this car has 100K-150K miles?

I would think that, say, you keep this car 7-9 years and during that time you have no high dollar repairs, you'll get to keep the money plus interest and use that to purchase your next car.

To me personally, the math and reasoning of aftermarket extended car warranties doesn't make much sense. Most of the companies I inquired wanted $2K-$3K upfront and the coverage was either murky or not very clear. For instance some warranties will cover a part repair/replacement and labor only if the part fails due to workmanship defects and not because the part had reached the end of its useful service life. This is why people find nasty surprises when putting up a claim for a repair post-warranty, because they don't take the time to read the small letter in the contract.

Set the money aside and pay yourself. Oh and maintenance is KEY for LONGEVITY. Tend to the little things right away before they become huge head aches and big time repair bills. Change your oil and filter. Rotate your tires. That is your best insurance against breakdowns.

 

Also, don't confuse an extended warranty contract with the MINI Extended Service contract that covers your oil changes, clutch, brakes and rotors plus all required maintenance until the car either reaches 6 years of age (Since original in service date) or 100K miles whichever comes first.

This is not, I repeat, this is not a bumper to bumper extended warranty!

 

I am attempting to get an aftermarket warranty, not MINI, that covers me for 3 years and 36,000 miles. It runs about $1,000 dollars and has decent coverage. Drive train is the real coverage I was looking for and it seems to cover that.

I think it is just a piece of mind thing for me, plus most people can roll it into their lease, or finance and not feel like they are writing a 1K check....

-Alex

 

If you are a hands on type person, that enjoys working on your mini. Then I would not get the extended warranty. If you need a mechanics service to do any work on your car, then I would recomend getting it.
there are a lot of places you can find online that due extended warranty's. I would just Google it, and read all the fine print of each one you may have an interest in.

 

I have had about 8 or so extended warrantys on used cars through dealers. I have never lost money. 3 years and 36 additional months on powertrain and major components is high on my list.

The PS unit in my '03 caught on fire and the extended waranty covered the PS unit, fan, new battery harness and install -- over $2K. My Comprehensive covered the main harness and some other damage and install for almost another $2K. Your car may not have that problem because it is an '06, but you can weigh the liklihood that other components may be problems.

Others may disagree, but it was worth it for me I am already ahead on the EW by 400 bucks and have only owned it since August. BTW, my Carfax showed that the car was a one-owner vehicle, got all regular maint and there were no major component failures or major mechanical work. The car was pristine when I got it at 49 K.