I need some opinions and advice on my current dilemma...

I own a 05 Cooper S and it currently has 57k on it. I purchased the vehicle 3 months ago. I had purchased it from a Mini dealer and it is in fine shape IMO...very clean inside and out. I knew I was moving and I had sold most of my tools and such. I also would not have an area to work on my car as I was moving to a city and space was limited. So with that in mind I purchased the extened warranty from the dealer and they use a 3rd party company. The warranty was not cheap but I liked the peace of mind as I have heard at times repairs can be costly and the minis can be finnecky. Now that I am in my new area I seem to have found a local shop the specilaizes in MINI and doesnt charge and arm and a leg to service them. They seem to be very reasonable and honest....

My dilemma is should I cancel the warranty and get most of my money (prorated) back from it ?....Roll the dice on my mini...and pay out of pocket for repairs...My worst fear is major issues..however in just looking the car over the gentleman at the shop said it "looked" to be in fine shape...no leaks, oil consumption issues so far...again I have only had it for 3 months but...

Thoughts ?...

 

I don't like extended warranty's because in total the companies who sell them must provide less service than the cost of the warranty, overall with all customers. Therefore, you are likely to either have to work to get the value out of the warranty if you have problems or likely to need less service than you paid for the warranty. All of this is theory and a generalization.

But, I have known many people have their butt saved by and extended warranty. Even me, a non-warranty person.
We had a Honda transmission die and it did not cost me anything. Retail would have been about $4,000.

Mostly depends on your ability to withstand a major expense.
If you can't, keep the warranty and sleep well at night.
If you can, get to know the indy shop and congratulate yourself for being smart for saving the money of the warranty.

 

Cancelled it today !

Wish me luck lol

 

I bought my Mini at 55k and there have been some items that needed to be replaced. I am also in a situation where space to work on my car non existent. Try to find somewhere to be able to work on your car like friends garage, shop that rents bays, or a nice shady parking lot where no one will care. I love my Mini but have come understand that it is not a Honda which I can run until something breaks but a car that needs to be very well maintained so something doesn't break, that being said most insurance won't cover maintenance anyways.

Good luck! Lots of good info here on maintaining service intervals, repair and mods!

 

For $1,000 to 2,000 I'm going to buy the warranty with my '09 MINI. Why play Russian roulette? If something goes wrong your Visa card is going to take a beating.

 

We purchased our 2006 MINI Cooper S new and bought an extended warranty covering 7 years/100K miles at the dealership. It was the best $1,800.00 we ever spent. Over the past six years we've replaced a water pump, A/C compressor, A/C fan, and most recently our supercharger. Easily more than $5,000 in parts and labor.

 

We do extended warranty repairs all the time. Had good luck with USAA, and Easycare.

But STAY AWAY from Endurance warranty, they wouldn't pay anything and said it was all normal wear, customer got screwed.