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Should I buy an extended warranty?

BMW_x_5BMW_x_5 Member Posts: 4
edited February 2022 in BMW
I am going to buying my leasing car next week. For the past 3 years, the millage is slightly over 10,000 at the end of the 3 yr leasing term. They offer an extended warranty, Premium Plan for 5 years/60,000miles around $3800, 4 years/48,000miles at $3300. I have another year of factory warranty. Do those offers of 5 years or 4 years reasonable? My car is pretty low in millage and I also have a plan to trip this year over a year, meaning the car will be in my garage; not using it. In this situation, should I buy a warranty? If so, the offers are reasonable? Any advice would be appreciated.

Comments

  • kyfdxkyfdx Moderator Posts: 236,362
    BMW_x_5 said:

    I am going to buying my leasing car next week. For the past 3 years, the millage is slightly over 10,000 at the end of the 3 yr leasing term. They offer an extended warranty, Premium Plan for 5 years/60,000miles around $3800, 4 years/48,000miles at $3300. I have another year of factory warranty. Do those offers of 5 years or 4 years reasonable? My car is pretty low in millage and I also have a plan to trip this year over a year, meaning the car will be in my garage; not using it. In this situation, should I buy a warranty? If so, the offers are reasonable? Any advice would be appreciated.

    Your car is still under warranty for another year.

    Are those warranties for additional years? Or is the 5yr/60K warranty only for an additional two years?

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  • BMW_x_5BMW_x_5 Member Posts: 4
    Yes, my car is still under warranty for another year. Those offered warranty is from now; so technically one is overlapping. 5yr/60K warranty is an additional five years from at the end of 3 year, so a total coverage of 8 yrs/70K (as my car is 3 yr old and 10k now).
  • kyfdxkyfdx Moderator Posts: 236,362
    BMW_x_5 said:

    Yes, my car is still under warranty for another year. Those offered warranty is from now; so technically one is overlapping. 5yr/60K warranty is an additional five years from at the end of 3 year, so a total coverage of 8 yrs/70K (as my car is 3 yr old and 10k now).

    You’ll be paying for a lot of warranty that you’ll never use, considering your current rate of driving. Those warranties seem very expensive, if you’re only driving 4K mi/yr

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  • BMW_x_5BMW_x_5 Member Posts: 4
    I usually drive 10K per year. During my lease term, I was overseas around two years. If I drive and expect to use another 40K or more for next five years, should I buy the extended warranty? I had ML350 before, and it costed a lot after 4 years, the expiration of the manufacturer warranty.
  • kyfdxkyfdx Moderator Posts: 236,362
    BMW_x_5 said:

    I usually drive 10K per year. During my lease term, I was overseas around two years. If I drive and expect to use another 40K or more for next five years, should I buy the extended warranty? I had ML350 before, and it costed a lot after 4 years, the expiration of the manufacturer warranty.

    At the end of four years, you’ll still only have 50K miles on this vehicle.

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  • BMW_x_5BMW_x_5 Member Posts: 4
    I may change the question then.

    For X5 owners, when did you see some costly issues on your vehicle? Over 40k? 50k? 60k? My concern is my X5 has low millage, but gets aged. Would the year matter on its performance even with low millage? Mine is 2019 x40i and driving in the Midwest, cold area.
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