New Purchase
December-4th-2006, 08:19 PM
#1
Registered User
Thread Starter
Join Date: Dec 2006
Posts: 2
New Purchase
Hello all - first time reader, first time poster, yadda yadda...
The girl and I are likely going to purchase the M3 Sport GT. We were wondering about extended warranties, though. We're likely going with the 60/84 payment plan @3.9%, with 10K down. Makes the payments nice. Wondering about any extended warranties. We're planning on keeping the car for the five years, and are very loikely to put on more than the "standard" 20K km per year (we like road tripping).
Confused: major component or comprehensive? 5 year, 100, even if we are sure to go over the 100K?
Any ideas? IS extended warranty on M3 even required? These are the prices for major component warranties:
60 MONTHS / 100,000 KM $955.00
72 MONTHS / 120,000 KM $1,099.00
72 MONTHS / 160,000 KM $1,199.00
84 MONTHS / 160,000 KM $1,599.00
Any insights? Thanks in advance!
The girl and I are likely going to purchase the M3 Sport GT. We were wondering about extended warranties, though. We're likely going with the 60/84 payment plan @3.9%, with 10K down. Makes the payments nice. Wondering about any extended warranties. We're planning on keeping the car for the five years, and are very loikely to put on more than the "standard" 20K km per year (we like road tripping).
Confused: major component or comprehensive? 5 year, 100, even if we are sure to go over the 100K?
Any ideas? IS extended warranty on M3 even required? These are the prices for major component warranties:
60 MONTHS / 100,000 KM $955.00
72 MONTHS / 120,000 KM $1,099.00
72 MONTHS / 160,000 KM $1,199.00
84 MONTHS / 160,000 KM $1,599.00
Any insights? Thanks in advance!
December-4th-2006, 08:23 PM
#2
Spam Czar!!
Join Date: Aug 2004
Location: Cedar Falls, Iowa
Posts: 2,315
Well I guess it all depends on how mechanically inclined you are. I normally don't consider extended warranties as they usually don't cover the big stuff anyway, and the little stuff that breaks due to normal wear and tear can normally be fixed pretty easily. That's just my opinion tho, but if you like the security and convenience of having an extended warranty .. I say go for it.
December-4th-2006, 08:35 PM
#3
The man behind the mask
Join Date: Oct 2003
Location: Birmingham, AL
Posts: 11,572
to be honest I'd never buy another extended warranty again. Take the $1200 or whatever and put it in the bank...don't EVER touch it until you need it to fix the car. By that time it'll have accrued interest and will more than cover the cost of your repair.
December-5th-2006, 02:48 PM
#5
Registered User
Join Date: Nov 2006
Location: Edmonton, Alberta
Posts: 116
Most would say that extended warranty is a waste of money. I myself didn't bother even though I'm not mechanically inclined either. I just have my fingers crossed.
It's about peace of mind though, since in the first 3 years of the regular warranty, I doubt anything will break.
Out of all those choices and based on what you said, 6 years, 160k seems like the best. It's only another $250 over the 5 year warranty and you're going to be driving far in a short period of time. Plus if you decide to sell it after 5 years, you can use that to increase the resale value.
It's about peace of mind though, since in the first 3 years of the regular warranty, I doubt anything will break.
Out of all those choices and based on what you said, 6 years, 160k seems like the best. It's only another $250 over the 5 year warranty and you're going to be driving far in a short period of time. Plus if you decide to sell it after 5 years, you can use that to increase the resale value.
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