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Joined: Mon Nov 22, 2021 3:30 am

Re: Extended Warranty

MKH wrote: Mon Aug 02, 2021 1:47 pm Most aftermarket warranties aren't set up for EVs and don't cover the major expensive bits. Many also have small-print loopholes that let them weasel out of major repairs. For the i3, only 'good' warranties are the one from Carmax (they basically cover everything, and just have BMW do the repairs), and the BMW extended warranties. Be aware that the BMW warranty is expensive to the max, (the Platinum ESC Plan from BMW that brings your coverage to 84 months/75,000 miles has an MSRP from BMW of $5199). and is a little misleading, in that if you, for example, buy that 7 year warranty extension, it is actually only a three year extension, as it counts in the original factory 4 year warranty. And don't confuse it with the much less expensive maintenance plan extension - which basically is just pre-paying your scheduled dealer service visits. Oh, and the extended warranty will only cover repairs up to the wholesale value of the car at the time (as do all of them). Note also, that you have to buy the BMW extension while the car is still under the BMW factory warranty - if your factory warranty is up, the car is no longer eligible for the BMW extension.

I looked at it seriously, and decided paying almost $5 grand for a few extra years of coverage on a 5 plus year old car didn't make much economic sense. So I mentally 'banked' that money, for any repairs, and if by chance I get that unicorne failure that is so expensive it basically totales the car, I plan on selling it as salvage, which by then will pretty much equal wholesale value anyway, and using that money, and my extra $5 grand, to buy another i3. So far my repair bills have been exactly $ zero. So, If i'd bought the warranty, I'd have been $5 grand poorer, and to date received no benefit from it, other than a couple of years peace-of-mind. All depends on how risk tolerant you are, I guess.
A very sensible option. it's a great option to 'mentally' allow a healthy 5k in case something goes wrong over a period of time.
A better peace of mind 'self warranty'
however, for the low mileage user the chance of spending all ( or any significant amount ) of the 5k is slimmer.
But for the very high mileage user, it may be beneficial to shop around and consider some kind of warranty .

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