[Averdi]

I've done many searches and only really found 5 series guys with this warranty. I've heard nothing but good things about this thurs party warranty. So I'm asking anyone who has had any experience or know anyone with an experience, good or bad, please share! Because I'm highly considering it with purchasing a 335. Thanks

[TopBack_Mack]

+1

[ThatRWD]

I've got it on my 07 335i, need to actually use it this weekend. Will let you know.

[Zach1328]

Originally Posted by Averdi

I've done many searches and only really found 5 series guys with this warranty. I've heard nothing but good things about this thurs party warranty. So I'm asking anyone who has had any experience or know anyone with an experience, good or bad, please share! Because I'm highly considering it with purchasing a 335. Thanks

I don't know much about Route 66, but I do understand extended warranty in general.
By getting an extended warranty you are taking a risk. 3rd Party warranty companies WOULD NOT offer a deal that will not make them money. They might lose money off a few customers, but on average they make money by offering extended warranties.

Basically, a MAJORITY of people who opt for extended warranties actually lose money. My car would need to have a lot of issues for the warranty to pay for itself considering I DIY most repairs.

[XM_Rocks]

OP there are loads of threads with Route 66.

Just search "route" in titles.

Originally Posted by Zach1328

I don't know much about Route 66, but I do understand extended warranty in general.
By getting an extended warranty you are taking a risk. 3rd Party warranty companies WOULD NOT offer a deal that will not make them money. They might lose money off a few customers, but on average they make money by offering extended warranties.

Basically, a MAJORITY of people who opt for extended warranties actually lose money. My car would need to have a lot of issues for the warranty to pay for itself considering I DIY most repairs.

Not always.

I am the first one to use that logic... heck I think its silly when people get tire warranties. Insurance should only be used for things that seriously hurt or destroy you financially.

However I decided to get a warranty on my 335i... first ever warranty purchase!

The warranty company may see all 3 series as the same and only differentiate slightly between 328i and 335i. That seemed to be the case with Route 66. The 335i is a few hundred more than a 328i.

I bought a 2007 335i w/ 78k miles.

My indy shop where I got my PPI done suggested I look into getting a warranty.

They whipped out an invoice from the prior day... ~$7,800 on a 2008 335i.

My indy then gave me suggestions of 3 good warranty companies that pay well and Route 66 was on the list. Just for kicks I called my CU and found out they carried them and I was shocked it was only $2,400 for their top tier $0 ded 4 year 48k mile package.

BTW the dealer wanted $3,900 for their warranty.

I figured for $2,400 I am covered for 48 mos and up to 126k miles from a major failure.

My wife and I have a pretty good rainy day fund but figured for the small amount it may hedge against a big repair.

[Averdi]

Originally Posted by ThatRWD

I've got it on my 07 335i, need to actually use it this weekend. Will let you know.

Please let me know that'd be extremely helpful!

[Averdi]

Originally Posted by Zach1328

I don't know much about Route 66, but I do understand extended warranty in general.
By getting an extended warranty you are taking a risk. 3rd Party warranty companies WOULD NOT offer a deal that will not make them money. They might lose money off a few customers, but on average they make money by offering extended warranties.

Basically, a MAJORITY of people who opt for extended warranties actually lose money. My car would need to have a lot of issues for the warranty to pay for itself considering I DIY most repairs.

What I'm getting the warranty for in mainly for the turbos,that's what I'm most worried about.

[Averdi]

Originally Posted by XM_Rocks

OP there are loads of threads with Route 66.

Just search "route" in titles.

Not always.

I am the first one to use that logic... heck I think its silly when people get tire warranties. Insurance should only be used for things that seriously hurt or destroy you financially.

However I decided to get a warranty on my 335i... first ever warranty purchase!

The warranty company may see all 3 series as the same and only differentiate slightly between 328i and 335i. That seemed to be the case with Route 66. The 335i is a few hundred more than a 328i.

I bought a 2007 335i w/ 78k miles.

My indy shop where I got my PPI done suggested I look into getting a warranty.

They whipped out an invoice from the prior day... ~$7,800 on a 2008 335i.

My indy then gave me suggestions of 3 good warranty companies that pay well and Route 66 was on the list. Just for kicks I called my CU and found out they carried them and I was shocked it was only $2,400 for their top tier $0 ded 4 year 48k mile package.

BTW the dealer wanted $3,900 for their warranty.

I figured for $2,400 I am covered for 48 mos and up to 126k miles from a major failure.

My wife and I have a pretty good rainy day fund but figured for the small amount it may hedge against a big repair.

Exactly the reasoning I would want to buy a warranty. Just incase something big goes wrong once I already saved thousands

[J2S2M]

Not to TJ, but what are some other reputable 3rd party warranty companies? My warranty will expire this Nov and I need to look into some options.

Thanks in advance.

[XM_Rocks]

Originally Posted by J2S2M

Not to TJ, but what are some other reputable 3rd party warranty companies? My warranty will expire this Nov and I need to look into some options.

Thanks in advance.

Call your local trusted BMW Indy repair shop.

They will be more than happy to share suggestions and since they don't sell them there is no conflict for bad info like with a dealer.

[Mick the Quick]

I agree that the expected value of any type of insurance would result in the consumer losing out substantially on the long run. That's why insurance companies make very healthy profits despite being heavily regulated. However, what most people don't state or realize is that when you isolate one customer (i.e., you), s/he could have tens of thousands of dollars in covered repairs or absolutely no covered repairs, or somewhere in between. When they say, "over the long run", it doesn't mean the several cars that one person would own during his/her lifetime. That's too small of sample size. Rather, they are looking at the entire pool of cars insured by extended warranties. Look, Buddy Biancalana might be a lifetime .198 hitter, but he did get a hit about twice every ten at bats. You could make out or not.

The advisability of any insurance (except for those required by the lender or by law) depends on the amount of premium (and scope of coverage) in relation to your ability to absorb a loss comfortably. (However, I bet that even Mark Zuckerberg has insurance on his house even if it is owned outright.) If you have $1,000,000 in liquid assets, you shouldn't even consider buying an extended warranty. If you have $5,000 in liquid assets, maybe you should.

Another way to look at extended warranties is that they are a hedge. You limit your exposure. If you pay $X, you won't spend more than that for any covered repairs. You might not "recoup" $X that you paid, but that is not the point, IMHO. You wouldn't complain if you did not "recoup" all of your premiums on insurance claims on your house or car (collision/comprehensive) in a policy period, would you?

Mick

[spxxx]

Originally Posted by Mick the Quick

I agree that the expected value of any type of insurance would result in the consumer losing out substantially on the long run. That's why insurance companies make very healthy profits despite being heavily regulated. However, what most people don't state or realize is that when you isolate one customer (i.e., you), s/he could have tens of thousands of dollars in covered repairs or absolutely no covered repairs, or somewhere in between. When they say, "over the long run", it doesn't mean the several cars that one person would own during his/her lifetime. That's too small of sample size. Rather, they are looking at the entire pool of cars insured by extended warranties. Look, Buddy Biancalana might be a lifetime .198 hitter, but he did get a hit about twice every ten at bats. You could make out or not.

The advisability of any insurance (except for those required by the lender or by law) depends on the amount of premium (and scope of coverage) in relation to your ability to absorb a loss comfortably. (However, I bet that even Mark Zuckerberg has insurance on his house even if it is owned outright.) If you have $1,000,000 in liquid assets, you shouldn't even consider buying an extended warranty. If you have $5,000 in liquid assets, maybe you should.

Another way to look at extended warranties is that they are a hedge. You limit your exposure. If you pay $X, you won't spend more than that for any covered repairs. You might not "recoup" $X that you paid, but that is not the point, IMHO. You wouldn't complain if you did not "recoup" all of your premiums on insurance claims on your house or car (collision/comprehensive) in a policy period, would you?

Mick

This... is why I bought a Route 66 policy.

Trying to find broken things now haha, will let you know if I have any claims in coming months.

[bad karma]

When I bought my '11 335i M Sport about a month ago (with just under 49k on the clock) I spoke with my CU about their warranty options. They offered me Route 66, as well, and I was *stunned* at how affordable it was.

$2400 for a full coverage, exclusionary 100,000mi/5year warranty (their Easy Street) package, which included the extended electronics coverage (since I have navi) as well as the turbo. Fuck, on these cars a minor repair can be north of a grand. One major repair in the next five years and 52,000 miles and the warranty will more than pay for itself. Works out to ~$40/month. That's damn cheap insurance.

[Averdi]

Originally Posted by bad karma

When I bought my '11 335i M Sport about a month ago (with just under 49k on the clock) I spoke with my CU about their warranty options. They offered me Route 66, as well, and I was *stunned* at how affordable it was.

$2400 for a full coverage, exclusionary 100,000mi/5year warranty (their Easy Street) package, which included the extended electronics coverage (since I have navi) as well as the turbo. Fuck, on these cars a minor repair can be north of a grand. One major repair in the next five years and 52,000 miles and the warranty will more than pay for itself. Works out to ~$40/month. That's damn cheap insurance.

exactly why I'm very interested. it'll definitely pay off

[Eat.Sleep.Race]

I got a 3rd party warranty from dealership, i hope it works when the time comes, mine was bumper to bumper for $2632.

Ill be covered for 4 years or 50k

[Averdi]

Originally Posted by Eat.Sleep.Race

I got a 3rd party warranty from dealership, i hope it works when the time comes, mine was bumper to bumper for $2632.

Ill be covered for 4 years or 50k

that also isn't a bad deal, from what i saw on the 66 site, its 5 years 100,000 miles? pretty sure.

[Eat.Sleep.Race]

Originally Posted by Averdi

that also isn't a bad deal, from what i saw on the 66 site, its 5 years 100,000 miles? pretty sure.

They all do it differently, for my car being that it was low milage, they offer different program i suppose. My factory warranty just ran out and this one started, so i have an additional 4 years or 50k miles whichever comes first for coverage.

[bad karma]

Originally Posted by Averdi

that also isn't a bad deal, from what i saw on the 66 site, its 5 years 100,000 miles? pretty sure.

Your CU would be better able to answer this, but I believe there are several different tiers. There may even be a 7 year/100,000 mile exclusionary, but I opted for the 5 year since I know I'll put enough miles on to be above 100,000 within that time frame. One thing that my loan officer said to me was that since my car was still (barely) under the regular 4/50,000 BMW warranty (I had ~48,500mi on it when I bought it) she thought that lowered the cost of the aftermarket warranty. Which makes sense, if you purchase extended coverage while you are still under warranty for just about anything it's usually cheaper.

[ThatRWD]

My credit union only charged $1900 for a 5 year 100k warranty, I'm sure it'll cover at least that amount in the 5 years.

[John 070]

Originally Posted by XM_Rocks

OP there are loads of threads with Route 66.

Just search "route" in titles.




Not always.

I am the first one to use that logic... heck I think its silly when people get tire warranties. Insurance should only be used for things that seriously hurt or destroy you financially.

However I decided to get a warranty on my 335i... first ever warranty purchase!

The warranty company may see all 3 series as the same and only differentiate slightly between 328i and 335i. That seemed to be the case with Route 66. The 335i is a few hundred more than a 328i.

I bought a 2007 335i w/ 78k miles.

My indy shop where I got my PPI done suggested I look into getting a warranty.

They whipped out an invoice from the prior day... ~$7,800 on a 2008 335i.

My indy then gave me suggestions of 3 good warranty companies that pay well and Route 66 was on the list. Just for kicks I called my CU and found out they carried them and I was shocked it was only $2,400 for their top tier $0 ded 4 year 48k mile package.

BTW the dealer wanted $3,900 for their warranty.

I figured for $2,400 I am covered for 48 mos and up to 126k miles from a major failure.

My wife and I have a pretty good rainy day fund but figured for the small amount it may hedge against a big repair.

Problem already--you say your dealer wanted $3,900. Maybe times have changed but on my '07 I negotiated $2800 for a BMW 7/100 gold. Still got burned because my car didn't break.

These are money makers for the seller, never get them.

[John 070]

Originally Posted by ThatRWD

My credit union only charged $1900 for a 5 year 100k warranty, I'm sure it'll cover at least that amount in the 5 years.

such easy money for the sellers, esp. when people treat 2k as "only,"......

[Averdi]

Originally Posted by ThatRWD

My credit union only charged $1900 for a 5 year 100k warranty, I'm sure it'll cover at least that amount in the 5 years.

what if i don't have a credit union? I'm 19 without a credit card