get or not to get..

been learning about the ex warr

Mini offers a 6/100K (Service ONLY warranty)

anything past the normal 4 year Mini Warranty is NOT offered by Mini according to EB Mini

They do have a third party that has a Multi choice shopping list of Extended Warranties..

For example 7yr/70K = $2000 and this has a $50 deductable on each visit... this covers the Mini except normal wear items and service...

So, what does the Mini group think ??? I got it on my Harley, pricy but I got it anyway..

With what Mini charges for labor - might be worth it past the 4th year?????

 

You can negotiate the premium much lower. It was offered to me @$1200 or so.

 

With my current car (Audi), I had the option of buying the extended warranty up to a month before the factory warranty expired, and I don't think the price went up. I ended up deferring, and ultimately skipping it (glad I did, as it made it easier to say goodbye Audi, hello Mini). I guess my point is, you're betting that you'll keep the car long enough to break even or better. That is, unless the extended warranty is transferrable, in which case it could enhance your selling price down the road. One extended warranty I had previously was only transferrable to private parties (i.e., no good on trade-ins).

 

Which policy did you buy at that price??

 

Well, in 4 years, a shop manual will be out. So, I'm thinking with my limited mechanical background and a shop manual I should be able to figure it out. I've got time though, I havent even started production. I was quoted 2250 for warranty to 7 years. It's up in the air right now, honestly.

 

We need to be very explict here...
There is an extended sevice plan for around $1295/$1395. That takes care of oil changes, brake pads, Micro Filters, Oxygen Sensors (maybe, but probably not a new clutch) upto 100,000 miles.
I was quoted $2697 for a 7 year 100000 mile extended warranty with a $100 deductable per incident. It would take care of anything that the regular warranty would handle. But these prices are high, I'm not sure it makes financial sense.

 

If you are driving the miles that will get you close to 100K in six years the maintenance can be a good idea. It pays for BRAKES (rotors and pads), the clutch, and all the other maintenance items. Brakes and rotors are usually gonna cost you about $700 per change, or maybe more when they replace the rear rotors. If you drive fast and brake heavy you sould see 3 brake changes before you hit 100K mikles. That in itself is a bargain.

As for the warranty, SHOP AROUND. If you have a credit union ask them. If you do business with a large auto insurance firm, ask them. Definitely ask teh dealer as well. Dealerships rely on their warranty sales to bring their service departments future business os they tend to have great ratings. As with most things price vs. qualty condiserations come into play. Check the warranty company that you are considering buying. If they have poor pay record or poor ratings with Standard and Poor's you should probably spend a bit more and go with one that is better rated.

 

SKIP IT!!! Extended warranties are SUCH a rip-off!!!

 

The extended warranty sellers (MINI didn't pressure me but other companies tried very hard) said " a new car doesn't or shouldn't breakdown but older cars have higher chance of having a problem". It makes sense. But I never buy extended warranty on cars.

 

It's preferable to have a MINI extended warranty since you can take it to all MINI dealers unlike third party warranties. The price of warranties is not fixed so you can haggle a bit.

 

The only extended one Mini offers is the "Service" = covers only service items during and after the fourth year.... ie=if the trans falls out after year 4 - out of luck..

 

Fact: On average, most folks lose on extended warranties. The policies would not otherwise be offered. Sure, everyone hears the 'made my money back twice over' stories, and some are even true. But that doesn't mean they're typical. It's a gamble, one you might just win, but the odds are against it. I can almost guarantee that if you passed up every single extended warranty and most other forms of insurance in your lifetime, you'll be ahead in the long run. Save your money for those policies where, although you'll probably never collect (and would not want to!), you or your dependents would be devastated if you went without and lost (liabilty, life, home, ...).

 

This can be said for all commercially based insurance policies. Insurance is a form of voluntary communism. All the subscribers pay in money to help those who experience the covered misfortune, and provide a profit for the insurer for managing it all. So, it is basically a group of people sharing the risk so no one member has a large loss.

 

No argument here. And it sometimes makes sense when there is potential for a big loss one cannot hope to recover from easily. I don't think extended warranties fall into that category. If they do, you probably shouldn't be buying the item you're insuring in the first place.

 

Agree with whats being said above but if you have a CVT, the extended warranty is not a bad idea...get a drive drain warranty that will cover the CVT transmission (fully).

 

Is that a Freudian slip, as in "drains your dollars?"

 

Did anyone else get the hard sell on this when you took delivery? No one at the dealership said a peep about extended warranties, service warranties, tire coverage or anything when I picked up my car on Monday.

 

The BMW finance/accounting guy bored me with several warranty options for 20 minutes when I picked up my car. I nodded my head through the lecture and said no to everything politely. My car was waiting outside and this guy went on a long sales pitch...

 

The Business Manager didn't even try to give me a hard time about financing through them when I said I was planning on getting financing through my credit union. I was really surprised at how easy and relaxed the whole process was.

 

After reading what available literature I got with the car, after I
bought the extended service plan, I wish I had not bought it.

It is not a warrenty. Which I knew that.
But what I didn't realize is that the official service intervals
are 100,000 miles for the stuff above people mention, and the
things you think about.

I am not sure if it covers brake rotors even. I have a feeling at
brake service time I'm going to hear your brake pads are covered
under the service plan, but the rotors are not normal service items.
That will be $500 more.

The spark plugs, auto trans service, O2 sensors, are all 100,000 miles
service intervals.

I feel stupid, and have felt stupid for 6 months.
I'm pretty sure I paid $2000 for 2 oil changes and a set of brake pads.
(figuring the extended warrenty was $1600, the rotors will be charged
out at $600 with labor, plus incidentals, = $2000).
Oh, right. I forgot about the free air filter. Well, I don't feel as
stupid now. :impatient

If you want to feel stupid for the next 6 years I recommend you
get the extended service plan.

 

When I picked up my car I told the MA I only hold cars for three years. This cut out the sales pitch on the extended service and warranty plans. But he did try to sell the tire insurance!

 

You may want to inquire about getting a pro-rated refund. When I bought my VW back in 2001, I purchased the extended warranty. After a few months, I changed my mind and received a good chunk of my money back. Granted, you didn't buy an extended warranty but it wouldn't hurt to ask. Your contract may also state that you have a cancellation/refund option. Mine did.

Good luck.

 

Well from what we were offered it covered everything that the original 3yr 36,000 mile one that came with the car. We got another 3yrs for 6 yrs total which covered all the same manufactured shedualed maint rotors included. With the way some shops charge around here just the brakes alone make it worth the extra $1500 we spent on it. Having 3 other older cars that I have to keep maintaned and the wife is the main driver I figure it was cheap insurance as all she has to do is drive to the shop and get the work done.