[Greg2010]

The 3-year lease period on our X3 is rapidly approaching...even though it seems that it wasn't very long go when I first purchased it (where does the time go?)! So I have been debating on whether or not to keep it (i.e. buyout the lease) or find something else.

Over the past 3 years, the X3 has been a really great car for our family (in fact, one of the best cars we have ever owned). It met our needs perfectly, whether we were driving the kids to their sporting events, running errands, or using it as the primary commuter car back and forth to work).

However, now that the kids are old enough to drive themselves (again, where did the time go?)...I find that the car really has more room than I actually need.

So about 6 months ago, I began preparations for what ultimately led to my final selection. In my sights were the Macan, the X4 or the newly designed X1 (and yes, even the X3, but I hesitated to go this route since I was looking for something a little smaller...and because of the redesign they will be coming out shortly..but not soon enough).

The search began back in August. I started with the Macan. Wow! I was very impressed, but there where few to chose from and little room for negotiation (there are so many options to choose from that I actually found myself pricing the car beyond what I wanted to spend).

Next was the X4. Sitting behind the wheel, it felt familiar, just like the X3, but with a crossover exterior (some people like it, others don't...my wife was in the latter category).

Finally, there was the X1. A bit of a compromise. Bigger/better than the previous version, and looking more like an X3 from the outside. But the inside has some quirks, perhaps not as refined as the X3, and I must admit I'm a little unsure about the quality and overall reliability given that it's now based on the Mini, which has mixed reviews.

My choice? Well, while looking at the Macan, I got hooked on a beautiful Porsche 911 C4S...that somewhat reminded me of my earlier E92 coupe (which I really loved, but BMW no longer makes...or I might have been easily lured back)! For me, the 911 is perfect for my daily commutes to the office...and it also provides some spirited driving opportunities on the local backroads.

But the 911 falls way, way short on storage space...which as it turns out, we need more than what we originally thought!

So we decided to keep the X3 (and we're so glad we did as we really enjoy driving this car). The only difference is that the X3 now becomes my wife's primary car (sold her GMC Acadia...good riddance) and now am in the process of trying to find which extended warranty insurance package to purchase....for coverage past the X3 manufacturer's 4 yr/ 50k period (not sure which one yet, either Fidelity Premium, Assurant or perhaps even from BMW if I can get them to lower their price .

I've read some reviews from others on the forum and could use some advice on which extended warranty coverage is better? I live in Northern Virginia and understand that selection of 3rd party warrantee coverage should also be based on the individual relationship that the 3rd party insurance company has with the service department (so I'm also planning on calling around to a few shops in the area to receive their views).

Thanks to all of those who contribute on this forum! I've learned a lot over the years and really appreciate your advice and feedback!

[barcelona]

Thanks for sharing your situation...criteria .... decision.

I bought MY2013 35i. I also planned on buying EW from BMW (11% discount). The Canadian BMW EW is inclusive, meaning all is covered except specific exclusions. Other EW's may be exclusive, only cover what is mentioned.

Yes, EW is excellent decision, upon expiry of initial coverage period (versus day 1). You have DHP, repairs can add up. Maybe worth checking if DHP is a EW covered item or exclusion (i.e. wear/tear item).

My decision was changed (surprised myself) from retention (with EW) to similar F15 MY 2016. I always intended to retain (with EW) but the numbers was actually better to trade in. Factors included: 3 discounts (dealer, loyalty, club), incremental trade in value ($22k more in yr3 versus yr7, enhanced tax credit), no EW ($5k, opportunity cost), and no wear and tear items (Canada does not cover brakes) like battery, tires, coolant. Final bonus: snow tires, mats will fit.

Not sure if relevant: final point, no need to expend time chatting with SA for a repair job to determine how much time was spent by mechanic on warrantied versus not warrantied item. Dealership/SA may lean more towards allocating costs to owner rather than re-billing BMW Canada, as their reimbursements can be frugal.

[ba ba boosh]

For your EW, shop around various dealerships, knowing your in Northern VA, there is alot of BMW dealerships around. I called around 5 in the vicinity of my area. Only 2 were willing to negotiate the Extended Warranty price lower, I got about $400 discount on Platinum EW. Ironically one of the dealerships sales managers is my cousin's close friend. He said we don't discount EW prices. Sure you don't.

[Greg2010]

Thanks Barcelona and ba ba boosh. Very sound advice...and much appreciated! I will be sure to dig deeper into the list of 3rd party warrantee exclusions and try to compare apples to apples with the BMW EW (which can often be difficult given how loose and ambiguous the legal language are in these contracts).

Yesterday, I did receive a written quote for the Fidelity Platinum EW coverage...and sent it to the BMW finance manager, so he could compare it to the BMW EW before sending me his "best offer" in hope that he'll budge on price! The Fidelity Platinum EW seems pretty attractive (almost too good to be true) ~$2800 for extending an additional 6 years/ 72K miles) with $100 deductible.

Finally, I also received an offer from the BMW dealership to CPO the car (which would extend the warranty 2 years/ 50k additional miles after the current manufacturers warrantee expires) for $2500 (no deductible, includes cost of inspection). The issue here is that we don't anticipate putting very many miles on the car...so it's a lot to pay for just adding 2 additional years of coverage.

Thanks again for your feedback and Merry Christmas!

[02420X3]

Consider emailing the BMW Dealer sponsors for this site and asking their price for an extended warranty.

[midwest 340xi 6sp]

OP,

Have you really scrutinized the math of buying your leased vehicle vs purchasing a new one?

"Typically" leasing a vehicle then purchasing it is one of the least cost effective ways to buy a car.

[Greg2010]

Originally Posted by Midwest M235i

OP,

Have you really scrutinized the math of buying your leased vehicle vs purchasing a new one?

"Typically" leasing a vehicle then purchasing it is one of the least cost effective ways to buy a car.

Fortunately, I received a really good deal when I originally ordered/leased the car (shout out to BMWDavid). The sales price was below invoice -- given holiday, loyalty, return lease incentives that were being offered at the time, and BMW was offering extremely low effective interest rates. And since the car is in pristine shape with low miles, the current market value is above the buyout/residual value (after tax). So, now, I can either pay it off (cash) or re-finance (since interest rates for lease buyouts are still pretty low).

However, now the focus is on getting an extended warrantee in place.... especially since these cars have so much advanced electronics on them!

The Fidelity Platinum EW seems like a good deal..especially after receiving a quote back from Assurant today that is almost twice as much (and I'm pretty sure that the quote from BMW is going to be more expensive as well).

[Greg2010]

Well as suspected...the quote for the BMW EW from the local dealership here in VA came back high...almost double as compared to the Fidelity EW. When asked, the dealership did however provide positive feedback about the Fidelity plan (they no longer sell it, but wish they had)...so the choice appears to be a no-brainer!

[ba ba boosh]

Originally Posted by Greg2010

Well as suspected...the quote for the BMW EW from the local dealership here in VA came back high...almost double as compared to the Fidelity EW. When asked, the dealership did however provide positive feedback about the Fidelity plan (they no longer sell it, but wish they had)...so the choice appears to be a no-brainer!

Word of warning, I actually looked into Fidelity before purchasing the BMW NA Platinum Warranty. If you google the reviews, they are not favorable. I know the BMW NA Warranty is double the amount, but at least BMW NA will honor the repairs costs rendered from the dealership. Fidelity is 50/50. Just my .02.

[Greg2010]

Thanks for the feedback.

It's a bit of a two edged sword! On one hand, I hope I never have any problems that would cause me any potential concerns about the car. While on the other hand, I selfishly want to recover the money I put into the EW premium.

Ha, ha! I can't win!

Although I did receive a good report card from the BMW dealership regarding their experience with Fidelity (the dealership also provided me a quote for the BMW EW...and then recommended that I go with Fidelity!)

My head hurts!