So I brought my 05 Mini Cooper S in for service as I wanted to get the service history on it. It has 13300 miles and just got an oil change. As it is out of warranty I asked about any extended warranty that they might have. I was given a booklet from a 3rd party called Select (Protective Asset Protection). The premium pre-owned will cost: 24 months -24000 miles $3169, 36 mos 36000 miles $3851, or 48 mos 48000 miles $4425. I have read the there have been issues with the CVT transmissions and brought this up to the mechanic at mini who went and looked and came back saying mine isn't a CVT transmission. How do I know? Would any of you purchase this extended warranty? I did check on the AAA Auto guard warranty but it looks like they cut off at 10 yrs. any advice? Thanks again.


http://www.vscinfo.com/Portals/0/doc...ge%20Sheet.pdf

 

The automatic in 1st Gen Cooper S models is not a CVT, it's a 6-speed Aisin unit.

1st Gen MINI FAQ: What transmissions choices are available?

As for the extended warranty ... bank the money for use on repairs if they're needed.

 

For what it's worth, when I bought my '06 Cooper five years ago, I bought a four year extended warranty for $3,000 and it paid for itself, just barely. However that's taking dealership prices into account.. leaky power steering hose repacement, $700, etc. You'd probably save money in the long run just having it serviced at a good independent shop.

 

If you want to double your money fold it in half and put it back your pocket.

 

My suggestion...
Self-insure....
A 3rd party warrenty is just prepaid repairs....even then they can/will weasel out of some costs...say things like "no record of a REQUIRED" prior service, so no coverage, or say it was due to the result of abuse....
It might cost you $500 to keep the car a few years or $50000000....
When it get too $$ you dump it regardless, cause you have the $$ of a rental and even copay with a warrenty.....

 

P,S.
THE MAIN advantage of having a 10 year old car is it is out of warrenty...
Lower repair costs, more used parts, etc...no warrenty to void.
If you worry about repairs costs on a older car, don't own one...
Everybody makes $$ with extended warranties....if they did not, they would not be sold...

 

13000 miles? You have an almost new car. I'd spend some of the money on replacement of things that potentially aged over the years like rubber hoses, etc. save the rest for a repair fund. Did you recently acquire this mini? If so how about fluid flushes.

 

Take the money you would spend on the warranty and put it in a high interest savings account. Use it if you need major repairs.

 

Good luck with that!

 

They still exist don't they? I don't know. It's been so long since I've had money to "save". LOL

 

A high interest savings account pay 1.5-2% interest these days!