I ordered a Mini last summer....which was totalled in a wreck this fall. I have my replica replacement Mini on order. I wanted the exact same car - I had no "gee, I wish I would've..." or "gee, I wish I hadn't..." thoughts. The only thing that I'm not sure about this time around is the extended warranty and all the extra warranty stuff. I'd have to add it to the financing...but I will do that if it's worth it. What does anything thing about the extended warranty? Thanks!

 

The extended warranty price can be haggled. There is a lot of profit in it for the dealer. This is why they offer it. You can buy it later if you wish. Financing in the deal only makes it even more expensive, but then again it's your buck.

 

Thanks! I turned it down the last time because I didn't want to finance it, adding to the price, and I figured I could get it later. I didn't know I could haggle about the price of the warranty, though.

 

They will generally sell you the warranty as long as your factory warranty is still in effect.

I figure that the best time to buy it is at 49k miles and no sooner.

If you decide to sell the car or it gets totaled or whatever before you need the extended warranty, they are not going to give you a refund and you will have wasted a couple thousand dollars on an expensive piece of paper.

 

I have 21st insurance - someone here on the forum told me about Geico and their ext typ warr - checked it out... actually Geico is cheaper than 21st for me... and they have a Mech break down. 6/100K now it does have a $250 ded but it lowers the Ded for Windshield to $50... This cost me a wopping $3.85 a month... So, it cost about $46 a year... The Mini has a 3/36 for everything and the forth year covers all mech - so, carry Geico for those 4 years and it cost me a totol of about $200 - break a few windshields and I am saving $$ every price a Mini windshield.. Last two years - if I still have the car - any major problem happens I am covered... ya, $250 ded but my Mini Charges $160 an hour for labor... less than two hours of labor and the ded is covered... its all a gamble... but for a cup of "Starbucks" a month, I just may do it...

 

The free routine maintenance agreement ends at 3/36k, but the warranty is bumper-to-bumper from the day you take delivery until 4/50k. There's nothing about the factory warranty coverage that changes at the 3/36k point.

 

Thanks for the Must better wording.. While typing that last night - wife was calling me to get off the computer, lol

 

After working for 30 years in the car bidness, I'd like to make a few points.........

I would never buy an extended service contract that was not backed by the manufacturer, too many of these companies have come and gone leaving their policy holders with nothing but paper.

You can try to negotiate the price of the ESC, some will and some won't discount it. Never hurts to ask.........

The rules on when you can buy the policy can change. Recently some local '06 MINI buyers were told when they bought their cars that they could wait till about the end of their warranty period to purchase the ESC, but when they went to do it, the rule had changed and they were out of luck. No, no one from the dealership called to let them know; too bad too, cause there were a number who would have bought it had they known.

You can get a refund of the price you paid for the ESC if you wreck or total or even sell the car. The amount is prorated based on how long you owned the car, and you will only get a portion of your investment back - the dealer gets to keep their profit.

The Geico deal harley 0711 has sounds like it could be a pretty good deal, depending on the language of the policy and what all it covers. Generally, the major parts of the car engine, tranny and drive line) are all that are covered by the insurance company backed ESC, and those don't fail very often (owners of CVT's might disagree ) The policies offered and backed by the MFR's tend to be much more comprehensive, extending to things like window motors and auto hvac components, which is part of why they're more expensive and tightly controlled as to when you can buy them.

Are they worth it? Hard to say.........

We have an Audi allroad, with quattro drive, twin turbos, adjustable height air suspension and a whole host of electronic gubbins. We bought the factory backed ESC for that car for about $1000 and I considered it a good investment, considering how complicated and expensive that car can be to repair. The real problem will come in a couple of years when that runs out and we have to decide whether to keep the car, "unprotected", or not.

 

You're right - it's hard to make a blanket statement about whether or not extended warranties are "worth it". On the one hand, manufacturers and third-party companies wouldn't offer them if they didn't take in more money in premiums then they paid out in claims, over the long term.

But on the other hand, everyone knows someone that's gotten much more out of an extended warranty than they paid for it. My wife's uncle had a twin-turbo Mitsubishi 3000GT VR-4 that got two new turbos under the extended warranty, so of course, he's a fan.

 

Exactly. Too many claims and the "insurance companys" run for the hills, leaving the rest of the policy holders exposed. That's why I say buy one backed by the car maker. I doubt BMW will quit making and selling cars if their warranty costs go up due to extended service contract losses - but they might invest in quality upgrades to stem those losses.......

 

I have always had mixed fellings about the ext warr - esp when the dealer hits you at the end of the sale with "doom and gloom" on their car... If the cost is not way out there, we usually get it - however, we are the type to keep our cars for years... Now with the Mini and the cost being almost 2K - I passed since the Mini has the 3/36 total and then the last year of the 4 years, the drive train is still covered... Now with Geico and the cost of $3.85 a month for their "Mech break down" here is the small print http://www.geico.com/auto/safety/mbi.htm I am switching to Geico in Feb anyway - so ,I plan to pay the extra each month,,, If I never use it - I wasted a cup of "Starbucks" each month... If you eat out once a month - your tip is more than that... lol

 

Quote from Geico: "MBI is specially designed to protect your new or leased car that is less than 15 months old and with less than 15,000 miles."

How so? New cars are under warranty with no deductible. When would you ever use this coverage during the first 4 yrs/50K miles?

The rest of it sounds pretty good. I've no problem with the occasional $250 pop. It's the $1,500+ pop that I want to mitigate.

 

My guess is this = I believe you are correct in "new warranty 4/50" Geico wants you to sign up when car is new - that way they will get the $50 a year for 4 years - a lot of people will either sell the car or change to anyother insurance - therefore Geico keeps the money and never pays out... for those of us that keep the car past the 4 years then can benfit + if we need a new windshield we can use it and only pay $50 = I can only imagine what Mini charges for a new windshield...

Bottom line (I believe) a lot of people will pay for this coverage and never use it or sale the car or change ins before the 4 years - Geico will make money - I plan to do it - If I do move on before the 4 years - I will NOT miss $3.85 a month.. but if I need a trans or engine work after 4 years, payed off... All ext warr are a gamble...

I have a very good friend that Owns an very large ins agency in town.. been here for Years - He sales all typs of Ins - he lives in a very nice house here and owns a very nice home in Palm Springs.... Just like Vegas - House will always come out ahead... thats Life..