[07E92TT]

I got my car at the end of september last year from a chevrolet dealer in Tampa. I got a pretty good price on it and besides a fuel pump replacement it's been running quite well and i'm actually quite in love with it. It has 48k miles on it now with no type of warranty after 50k. My dilemma is that I was going to buy an extended warranty but after getting a quote from the dealer it was quite pricey so instead I was debating on putting that money down towards a CPO'd 335i coupe with less miles (It's not really a matter of coupe vs. sedan because I like both equally just want something different if i'm going to trade.) My interest rate now is 7% but I put a lot down so the car is worth way more than I owe so I was thinking of taking advantage of BMW's .9% financing and after some calculations my payments actually came out to be a little less than what i'm paying now. So i'd have a car with less miles, new tires, and a CPO warranty for the same or less per month. What would you guys do? Keep car, suck it up and buy warranty? Keep car, risk it with out warranty? Trade in car for CPO? Thanks for opinions/advice..

P.S. This is the car I'm considering...http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb

[Express]

if you haven't had a real problem, why risk it?

[Shorting]

the warranty for these cars after is a must in IMO i made the mistake and didnt get the extended warranty and i regret it
(i think bmw should have a 100k mile power train warranty at least and not 50K)
but ya i would really consider it

[pits200]

Wow 7%, that is a good chunk of change your spending on interest.

[John 070]

I think you should just get an extended warranty, it's roughly 3 grand, right? The way I look at it is a dealership will never give you more than your car is worth wholesale, no matter what. I have a 2k7 E92 335 6-man ZSP ZPP 25k miles with 7/100 extended warranty, the MB dealership offered me 23.8. I think my car may be worth a couple grand more than yours, so you're looking at potentially 10k+ for the 2k8 CPO. Why not simply add the extended warranty to yours for 3k? You know the car and it seems to be ok.

Keep in mind, you CAN get the extended warranty discounted. It took me 3 dealerships before I got one to budge. Good luck.

p.s. can't you refi the balance owed, maybe a heloc? My heloc is 2.5%. Get rid of that debt, don't take on more, the car is getting older....

[Chriztofor]

OP: I doubt you will be in an equal or better position by trading. For example, you will be losing money by paying taxes that you don't have to pay if you keep your car. That is just one example. So if you have money to blow then do it.

[tony20009]

If you have a tidy sum to put down on another car, use it instead to buy the extended warranty and pay down your loan. Not having any figures, I cannot say whether it's the least expensive route to go, particularly considering your current interest rate which is incredibly high. You should be able to calculate that, however. If you decide to buy the new car, make sure you qualify for the 0.9 interest rate.

[galahad05]

AAA Platinum or Diamond warranty.
Capt Audio around here can talk about it--quite superior coverage for a good price.
Easily covers more than a CPO ever will.

[DarkRider23]

Crunch the numbers and see how much you lose or if you'll save anything. Factor in the unexpected repairs you might need as well as all the maintenance you'll be paying for as well. Then make your decision.

[mikracer]

The term on the 0.9% offered by BMWFS is 24 months. Wasn't sure if you were aware of that or if you calculated your potential new payment based on a 60 month term. The factory bumper to bumper warranty is the one you will want to have. The CPO warranty only really covers the drivetrain and not much else. You might be better off refinancing your current auto loan and purchasing a good extended warranty that covers more than just the drivetrain. The HPFP is covered for 10 years or 120,000 miles by BMW, so no need to worry about that part.

[07E92TT]

i'm going to go to the dealer this week sometime and see what they can do. I got a letter today saying "they want my car, top dollar for trade blah blah blah." I'm sure it's BS but i'm still interested in what the number would be. $3k for a warranty is just a lot of money for something you can't see. I think a M-tech kit would be a much better investment...lol jk.

[mikracer]

That letter is exactly what you believe it to be...BS. Its just a ploy to get you into the dealership and potentially trade in your car and buy another. Either way, good luck with your decision. Its alway fun to get a new/new to you car.

[mmm def]

If your car is running fine, i'd keep it and look into the aftermarket warranty if it worries you.

[BMW1983]

Dealers never lose money. Same in vegas as at the car lot. I suggest sticking with what you have and buying the warranty --- you're paying for warranty when you buy a CPO'd car --- it just isn't listed in a line item fashion ---- but you are paying for it.

[Kid Eh]

But aren't extended warranties not worth it? I've been doing some research on this and the odds are that you won't use the 3K you spend on it by the time the warranty is up. That's why the sell them. They are making money off it. Hope I'm not thread jacking.

On your original question OP I would keep the car.

[mikracer]

Originally Posted by Kid Eh

But aren't extended warranties not worth it? I've been doing some research on this and the odds are that you won't use the 3K you spend on it by the time the warranty is up. That's why the sell them. They are making money off it. Hope I'm not thread jacking.

On your original question OP I would keep the car.

I think it depends on the car. Most German made car has high prices for repair work. Most domestic and Japanese made cars arent as expensive (standard models, not luxury/hp models).

[SLCGoonski]

Not sure if it's been said...but you have to look at the initial down payment you made.

Your car may be worth more than you owe (loan vs. value)...but if you put $10k down (or some other number)...you may still be backwards.

[tscdennab]

Get a cheaper 3rd party warranty that covers the engine and transmission.