BMW Considers Offering Excess-Wear-And-Tear Lease Policy and Extended CPO Warranty

Jason · 07-13-2011, 02:54 PM

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There are two potential new BMW financial services products under consideration which, if approved, would be great news for the legion of BMW customers who lease BMWs or purchase certified pre-owned (CPO) BMWs.

BMWFS is currently considering a BMW backed 1) excess wear and tear policy for lease customers, and 2) extended CPO warranty.

The BMW excess-wear-and-tear policy would be appropriate for lease customers who tend to drive and use their BMWs hard or simply want the peace of mind from knowing that they won't be nickel and dimed for wear and tear upon lease return inspection.

The CPO wraparound warranty would allow CPO customers to buy extended coverage beyond the current standard 6-year/100,000-mile CPO warranty.

"We're in our due diligence" on those products, says Shaun Bugbee, vice president of sales and marketing at BMW Financial Services in Woodcliff Lake, N.J.

If approved, he said, the products probably would launch around the end of the year.

Source: Autonews

wontonbomb · 07-13-2011, 05:04 PM

That would be a great option to have.

MDyDinanM · 07-13-2011, 05:11 PM

yeah - then even if you buy them, it's up to the dealer which will probably deny the claim anyways saying it "isn't covered".

And when you complain to BMW NA, they say they can't do anything about it b/c they are a franchise and it is up to the dealer to make the decision.

gaifaun · 07-13-2011, 05:23 PM

whats the difference between the current wear and tear lease protection and this new offering?

In Canada, we already have this option.

sarafil · 07-13-2011, 05:28 PM

Quote:

Originally Posted by gaifaun

whats the difference between the current wear and tear lease protection and this new offering?

In Canada, we already have this option.

We don't in the US... only aftermarket providers right now.

MikesBMW · 07-13-2011, 05:33 PM

they should have a warranty for folks who want to mod

JulieDriving · 07-13-2011, 07:14 PM

Is it great?

Depends.

On cost.

BlueElectrin · 07-13-2011, 07:53 PM

Quote:

Originally Posted by JulieDriving

Is it great?

Depends.

On cost.

It's not that much, I got mine for free as part of the negotiation.

It's great, covers everything up to $1000 per item, and $7500 total.

Basically you'll be able to walk away from the dealership at the end of the lease, without a worry!

Nick340xi_qc · 07-13-2011, 07:56 PM

in canada we have it and it'S great

bavarian19 · 07-13-2011, 08:45 PM

nice option!

IancoleTX · 07-13-2011, 10:02 PM

Great, as long as this option doesn't come with the implication that dealers now take a fine-tooth comb to your car at lease-end to nail the people who opt not to purchase it.

positiveions · 07-13-2011, 10:30 PM

great news

Diver · 07-13-2011, 10:31 PM

An excess wear and tear warranty will be expensive. Only those drivers that are likely to have problems are going to want it. Such self selection leads to high rates.

BlueElectrin · 07-13-2011, 10:51 PM

Quote:

Originally Posted by Diver

An excess wear and tear warranty will be expensive. Only those drivers that are likely to have problems are going to want it. Such self selection leads to high rates.

It's not as expensive as you think, like I said, I negotiated the wear and tear lease option for free. Mind you I was still able to get price deduction off MSRP.

I think in Canada it's probably around, or less than $2k, and it's probably going to be cheaper for the Americans, since people down south always seem to get better/cheaper deal with cars, and everything relating to it (even though our dollar is at parity).

If you live in a place with relatively harsh winter, the inevitable broken windshield (quoted $800 at dealership, parts and labor), minor scratches and bumper rubs, etc. will make up for the cost in no time.

It's for the peace of mind, since any kind of repair with German imports always cost more compare to domestic and Japanese

Prissy · 07-13-2011, 11:14 PM

i like

Pauldramos · 07-14-2011, 12:58 AM

All new BMW vehicles should just have 6y/100k free maintenance up to 50k.

Bluesummer · 07-14-2011, 01:53 AM

great for people who buys a CPO from a person you know

kaishang · 07-14-2011, 01:57 AM

Quote:

Originally Posted by IancoleTX

Great, as long as this option doesn't come with the implication that dealers now take a fine-tooth comb to your car at lease-end to nail the people who opt not to purchase it.

+1

syncmaster · 07-14-2011, 04:10 AM

i think it would actually be a good option to have, since some people do get scratch their rims, or door ding, minor bumper rash, etc, during the course of their 3 year lease term, and having the peace of mind of being able to just walk out of the dealership worry free after you hand back the keys is something nice to have.

ZheHbKa · 07-14-2011, 06:19 AM

great idea for those with rwd and constant tire replacement

R12ax7 · 07-14-2011, 07:44 AM

I dont like this one bit (excess wear and tear that is)... first thing they do is start denying certain items they have typically covered and then offer you the excess wear and tear policy. Makes the "all maintenance included" a much less meaning full selling point for me.

BMWI6 · 07-14-2011, 08:58 AM

Quote:

Originally Posted by MB135i

they should have a warranty for folks who want to mod

LMAO SO true, 1000000000+

07-13-2011, 02:54 PM	#1
Jason Administrator 40636 Rep 21,237 Posts Drives: F80 M3 Join Date: Mar 2005 Location: USA iTrader: (0)	BMW Considers Offering Excess-Wear-And-Tear Lease Policy and Extended CPO Warranty BIMMERPOST NEWS BMW Considers Offering Excess-Wear-And-Tear Lease Policy and Extended CPO Warranty 30 COMMENTS Tweet There are two potential new BMW financial services products under consideration which, if approved, would be great news for the legion of BMW customers who lease BMWs or purchase certified pre-owned (CPO) BMWs. BMWFS is currently considering a BMW backed 1) excess wear and tear policy for lease customers, and 2) extended CPO warranty. The BMW excess-wear-and-tear policy would be appropriate for lease customers who tend to drive and use their BMWs hard or simply want the peace of mind from knowing that they won't be nickel and dimed for wear and tear upon lease return inspection. The CPO wraparound warranty would allow CPO customers to buy extended coverage beyond the current standard 6-year/100,000-mile CPO warranty. "We're in our due diligence" on those products, says Shaun Bugbee, vice president of sales and marketing at BMW Financial Services in Woodcliff Lake, N.J. If approved, he said, the products probably would launch around the end of the year. Source: Autonews
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07-13-2011, 05:04 PM	#2
wontonbomb Captain 121 Rep 798 Posts Drives: TBD Join Date: Sep 2006 Location: USA iTrader: (8)	That would be a great option to have.
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07-13-2011, 05:11 PM	#3
MDyDinanM OIF Veteran 246 Rep 2,106 Posts Drives: ///M Join Date: Oct 2009 Location: East Coast iTrader: (0) Garage List 2008 BMW M5 [6.88]	yeah - then even if you buy them, it's up to the dealer which will probably deny the claim anyways saying it "isn't covered". And when you complain to BMW NA, they say they can't do anything about it b/c they are a franchise and it is up to the dealer to make the decision. __________________ Retired: '06 BMW E46 ///M3 Current: '08 BMW E60 DINAN ///M5, Interlagos Blue, SMG DINAN Stage 2 Suspension, Exhaust, Stage III Software, Front strut braces, Intakes, 13% Underdrive pulley, 3.91 Differential, RPI Scoops.
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07-13-2011, 05:23 PM	#4
gaifaun Major 206 Rep 1,134 Posts Drives: E90 335i LCI Join Date: Apr 2007 Location: Greater Vancouver iTrader: (14) Garage List 2010 E90 335i LCI [10.00]	whats the difference between the current wear and tear lease protection and this new offering? In Canada, we already have this option. __________________ I can help with Coding in Vancouver. PM me
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07-13-2011, 05:33 PM	#6
MikesBMW Banned 318 Rep 1,410 Posts Drives: X3 M40i Join Date: Jul 2010 Location: Ohio iTrader: (1) Garage List 2019 BMW X3 M40i [0.00] 2017 BMW X1 [0.00]	they should have a warranty for folks who want to mod
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07-13-2011, 07:14 PM	#7
JulieDriving Female driving enthusiast :P 76 Rep 2,308 Posts Drives: Bimmer Join Date: Nov 2009 Location: Ontario, Canada iTrader: (0) Garage List 2013 BMW M3 Coupe [10.00]	Is it great? Depends. On cost. __________________ 2013 M3 coupe (Azurite Black, Black, Piano Black) + miata nut (2 miatas) + Mk6 GTI 5-door hatch (our mini-SUV )
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07-13-2011, 07:56 PM	#9
Nick340xi_qc EMT - Firefighter 86 Rep 418 Posts Drives: BMW f30 340xi mppsk Join Date: Feb 2009 Location: Sainte-Julie, Qc , Canada iTrader: (0) Garage List 2012 328i [10.00] 2006 325I [0.00] 1988 ranger [0.00]	in canada we have it and it'S great __________________ BMW 2012 328i F30 Sport / Ext black / Mperf Front and Rear bumper / Front lip and rear diffusor Mperf / Oem Yellow BBK / Low kick carbon spoiler / Varrstoen ES1 / H&R coilover / 335i MPE / AA flash tune + burble / ER downpipe
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07-13-2011, 08:45 PM	#10
bavarian19 General 517 Rep 18,858 Posts Drives: Car Join Date: Mar 2005 Location: VA iTrader: (23)	nice option!
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07-13-2011, 10:02 PM	#11
IancoleTX Dillo boxers 272 Rep 3,360 Posts Drives: 2019 M5C Join Date: Jan 2010 Location: USA iTrader: (14)	Great, as long as this option doesn't come with the implication that dealers now take a fine-tooth comb to your car at lease-end to nail the people who opt not to purchase it. __________________ 2019 M5C Matte MBB / Tartufo
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07-13-2011, 10:30 PM	#12
positiveions Lieutenant General 961 Rep 11,722 Posts Drives: 19 Tacoma, 16 Golf wagon Join Date: Sep 2007 Location: Upland, CA iTrader: (2) Garage List 2019 Toyota Tacoma [0.00] 2016 VW Golf Sports ... [0.00] 1998 BMW M3 [0.00] 1990 BMW 325is [0.00]	great news
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07-13-2011, 10:31 PM	#13
Diver Brigadier General 504 Rep 3,446 Posts Drives: Black '12 135i - Sold Join Date: Nov 2010 Location: Texas iTrader: (0)	An excess wear and tear warranty will be expensive. Only those drivers that are likely to have problems are going to want it. Such self selection leads to high rates. __________________ See my photography at http://ronscubadiver.wordpress.com
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07-13-2011, 11:14 PM	#15
Prissy Brigadier General 1065 Rep 4,856 Posts Drives: M340i Join Date: Sep 2008 Location: NY iTrader: (6) Garage List 2015 BMW F30 [5.50] 2020 M340I [0.00] 2017 X3 [0.00] 2008 BMW E92 [9.00] 2010 BMW E92 [10.00]	i like
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07-14-2011, 12:58 AM	#16
Pauldramos 27 Rep 420 Posts Drives: Dinan '11 M3 Join Date: Mar 2011 Location: Solvang, CA iTrader: (1)	All new BMW vehicles should just have 6y/100k free maintenance up to 50k.
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07-14-2011, 01:53 AM	#17
Bluesummer Lieutenant General 588 Rep 15,818 Posts Drives: slower than Ayrton Senna Join Date: Dec 2006 Location: SoCal iTrader: (15) Garage List 2017 BMW X5M [0.00] 2015 M4 [0.00] 2011 E82 135 [0.00] 2011 M3 [0.00] 2007 335 [0.00]	great for people who buys a CPO from a person you know __________________ IG:d.violet.m3
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07-14-2011, 04:10 AM	#19
syncmaster Private 1 Rep 55 Posts Drives: 08 e90 Join Date: Oct 2007 Location: Van iTrader: (0)	i think it would actually be a good option to have, since some people do get scratch their rims, or door ding, minor bumper rash, etc, during the course of their 3 year lease term, and having the peace of mind of being able to just walk out of the dealership worry free after you hand back the keys is something nice to have.
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07-14-2011, 06:19 AM	#20
ZheHbKa Lieutenant Colonel 77 Rep 1,793 Posts Drives: the Wind Join Date: Jul 2007 Location: NYC iTrader: (0) Garage List 2014 BMW 335 Xi [10.00]	great idea for those with rwd and constant tire replacement __________________ 2014 F30 335 X-Drive \| 6-MT \| Alpine White/Coral Red \| ZMM ZDH ZDA \|
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07-14-2011, 07:44 AM	#21
R12ax7 Major 120 Rep 1,053 Posts Drives: 2021 340xi Join Date: Mar 2008 Location: Philly iTrader: (3) Garage List 2011 328i [0.00]	I dont like this one bit (excess wear and tear that is)... first thing they do is start denying certain items they have typically covered and then offer you the excess wear and tear policy. Makes the "all maintenance included" a much less meaning full selling point for me.
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