Should I buy an Extended Warranty - BMW Luxury Touring Community
 
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post #1 of 23 Old Dec 30th, 2005, 11:03 am Thread Starter
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Question Should I buy an Extended Warranty

I am going to buy a 2002 K1200 LT with 9752 miles, from an individual. The question is should I buy and Extended Warranty on the bike? If so, where should I buy it? Does anyone have experience with any of the websites that sell Motorcyle Extended Warranties?

--Bo
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post #2 of 23 Old Dec 30th, 2005, 11:30 am
 
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Do It!

YES!!!
I basically paid for a new bike with the money that I saved because I purchased an extended warranty.
I have the Pinnacle Protection Plans: http://www.pppcoverage.com/
I think Pinnacle is the BOMB!
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post #3 of 23 Old Dec 30th, 2005, 11:47 am
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I have http://www.motorcycleservices.com/ but I have not used them yet, so I can't say if they are proven or not yet.

BTW: My reference was to their extended warranty, not their insurance.

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post #4 of 23 Old Dec 30th, 2005, 1:19 pm
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I don't think you can use Pinnacle. Here is a line from their used bike coverage:

"Used plan coverage may only be purchased on the same day you purchased your motorcycle or ATV from the dealership".

Gene
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post #5 of 23 Old Dec 30th, 2005, 1:55 pm
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Quote:
Originally Posted by justincase
I have http://www.motorcycleservices.com/ but I have not used them yet, so I can't say if they are proven or not yet.

BTW: My reference was to their extended warranty, not their insurance.
You can purchase from MC services even though you did't buy from a dealer. Good price but I have never had a claim.

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post #6 of 23 Old Dec 30th, 2005, 4:31 pm
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I'm with Coni on this. Rear Drive, Rear Main Seal Leak, ABS Hydro Unit. A total of $4000 in repairs -- all covered by Pinnacle.


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post #7 of 23 Old Dec 31st, 2005, 1:56 am
 
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NO Warranty!

I've never purchased a warranty on any product... you're essentially placing a bet against yourself, that you will have problems with said product and require the warranty in the future. Essentially, the house (the insurance provider) has done the math and run the numbers and charges everyone more than enough to cover their losses. In addition, typically the individual claim made is smaller than the amount orginally paid out for the individual warranty - they've done the math; there are exceptions of course and I don't need to hear about them. Moreover, gambling doesn't make since and the house usually wins, but people still do it. I'm not going to sit around and hope I have problems that are large enough to get my return on the purchased warranty. Chances are you won't and that's how they make their money. P.S. I remember buying a new Toyota seven years ago and being told how dependable they are by the salesman and managers... and when being faced with the financing an hour later for the same vehicle they were pushing an extended warranty because you never know - hypocrisy has no bounds. And no... I didn't buy it nor did I need it.
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post #8 of 23 Old Dec 31st, 2005, 10:05 am
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Quote:
Originally Posted by Texas42
I am going to buy a 2002 K1200 LT with 9752 miles, from an individual. The question is should I buy and Extended Warranty on the bike? If so, where should I buy it? Does anyone have experience with any of the websites that sell Motorcyle Extended Warranties?

With the known, expensive problems that have occured with some LT's I went ahead and bought an extended service contract for my 02. I figured it was a crap shoot but the cost of the contract was the lesser of the two evils and I now have a certain peace of mind anyway. I think it was worth it though (knocking on wood) I haven't had to use it yet.
Mine came from a company called Warrantech offered by the local dealership.

Follow your front wheel...
Steve S.

1998 Harley Davidson FLHR-P
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2002 BMW K1200LTE (Bayou Buffalo)

If it rolls, floats, flies or shoots, runs on gasoline or gunpowder, is loud, goes fast, or shoots a big bullet, thus producing Torque or Recoil....It's Cool.

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post #9 of 23 Old Dec 31st, 2005, 11:59 am
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oh how I wish my extended warranty lasted another two months. My pinnacle warranty expired during October. I have a 2000LT that just developed a oil leak (possible rear main seal). I noticed the oil leak when I changed the oil (no drips on the garage floor). I had the slave cylinder set to be replaced early December by my dealer but postponed it until January 5. In a way I may be lucky that if it is the rear main seal, and I had the slave cylinder replaced in early December, I would be paying for additional labor for this leak. I am hoping that it is the slave cylinder that is leaking, but 95-percent of the time, the slave cylinder leaks into the clutch area, not a visible leakage on the outside. I hope that the slave cylinder is the cause as I only have 64,000 on the bike.

For those helping me out by determining what the leak may be, it will only leak after a drive (and it will only drip one drop on the floor, but the underside is wet with what looks like between the motor and transmission). I had the bike idling for 15 minutes and did not notice any leaking. The next time that I start it or drive it will be when I go straight to the dealer on Thursday. I may spray some brake fluid on the bottom before leaving for the dealer to clean up the bottom.

Mike Trevelino
Williamsburg, VA
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2000 LT - Totaled at 99,960 miles


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post #10 of 23 Old Jan 2nd, 2006, 8:34 am
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Quote:
Originally Posted by Jerrod Maguire
Chances are you won't and that's how they make their money.
Sadly, chance are you will need it with the LT. Well, at least for me. I had all the same problems as El Jeffe, and the rear main seal had just started leaking before the fire.

I bought my pre-owned 2004 through my dealer so I could get the EW. They switched to selling the Interstate Star Sport plan, and can be renewed annually as long as you own the bike. That part I really like.

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post #11 of 23 Old Jan 2nd, 2006, 8:37 am
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Mike, I pulled the lower fairing on the right side and found oil seepage between the motor and tranny up the side, too. Then after a spirited ride over the Talimena Trail, the clutch started slipping. 66k miles on the bike. Good luck my friend!

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post #12 of 23 Old Jan 2nd, 2006, 10:36 am
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I agree with the one "NO" vote. If I thought I needed it when I purchased a vehicle - I'd get another vehicle!!! For me it's a pretty strong statement against LT purchase when the preponderance of people say - get it because you'll need it.

My one experience with an extended warranty was a long time ago (1991?). Collecting was a pain and the BMW dealer that sold it to me dropped BMW (San Diego on Convoy). The insurance company also went bankrupt changed their name and went back in business.

With six motorcycles in my current stable I also can say one is paid for by the money I've saved by NOT buying any extended warranties. Funny - of the six ONLY the BMW's have EVER been back to a dealer for any reason since their purchase!

Tom

Last edited by TPadden; Jan 2nd, 2006 at 10:46 am.
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post #13 of 23 Old Jan 2nd, 2006, 11:23 am
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Quote:
Originally Posted by TPadden
..... Funny - of the six ONLY the BMW's have EVER been back to a dealer for any reason since their purchase!
Thought I'd add when I think about it - this is not an entirely fair assessment of BMW. The primary reason my BMW's see the dealer is that I'm willing to do the annual 7 hour round trip to the wonderful Bentonville, AR dealer and visit with Jerry!

On the very PLUS side generally - BMW does seem to have the only mechanics that I trust to treat my bikes as well as I treat them.

Tom
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post #14 of 23 Old Jan 2nd, 2006, 1:24 pm
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EW? It depends....

Howdy Bo,

I think the question about whether or not to buy an extended warranty (EW) should be answered with a question, "are you willing to pay for cost certainty?"

The EW is about paying a "statistical" premium in order to make the potential expense a predictable value. Some of us that purchase this "cost certainty" will have paid more than the value of the services needed, while others will have paid much less (with the LT, the high side of expense is very high.) What both groups purchased was peace of mind.

I would add to the general comments in this thread about the insurance company cost analysis to make a profit. One factor not mentioned in the discussion was the rather common situation where the vehicles are resold and the extended warranty that is prepaid is not transferred, in essence, forgotten about. If that number is large enough, then, for those of us that use the EW as intended, the value received may be greater than the "statistical premium" paid for EW.


.

Bill "Omaha"

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post #15 of 23 Old Jan 3rd, 2006, 9:58 am
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One more thought. I am not in a financial situation where I could just "go out and buy" a new rear drive or a new frame. Most EW's are set to where you can make a monthly payment. I have been out 2000+ miles from home and had to have work done. It REALLY put a damper on the rest of the vacation. I have to plan now to buy tires later and the idea of something big happening would make me park the bike until I can salvage up enough nickles to have it done.

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post #16 of 23 Old Jan 3rd, 2006, 6:09 pm
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Cool Yes Sir!

Quote:
Originally Posted by Texas42
The question is should I buy and Extended Warranty on the bike?
My '02 lost her radio about 3 weeks before the factory warranty ran out. BMW replaced it free. The cost for the parts were over $1,200. Not including labor.

I figured this was reason enough to get an extended warranty. I purchased Interstate Star for about $1,350. This will give me an extended 48 months on my warranty.

With this plan, I had to purchase it BEFORE the factory warranty expired. Interstate was recommended by Bob's BMW and BMW of Atlanta.

I must also comment that my LT has been mostly trouble free. I only purchased the warranty because of the tremendous cost to replace any of the electronics, windshield motor, cruise control, or ABS stuff. The basic bike should be very reliable.
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post #17 of 23 Old Jan 3rd, 2006, 8:09 pm
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IMHO like any other investment the EW is just an added comfort level and allows some to sleep better at night. I bought one for the used RT I had and it is what sold the bike. And the new owner did transfer it the day he bought the bike. I also opted to buy it for my GS at a cost of $800 since I know I will keep the bike for at least 3 more years. When I bought the Pinnacle plan the only quailifier was the bike had to be under the original factory warranty. Once the factory coverage expires I do not think you can get an EW.

OTOH .... I asked my dealer how much the rear drive repairs run as I was looking at a pre 2003 LT. Then checked repair tickets and indicated most were in the $700-$1200 range and indicated the max should be about $1500 in the worst case. Based on that I may just buy a '02 and put away $2000 in a Just in Case Fund.

Ed Apelian
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post #18 of 23 Old Jan 3rd, 2006, 8:19 pm
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Quote:
Originally Posted by black1200lt
YES!!!
I basically paid for a new bike with the money that I saved because I purchased an extended warranty.
I have the Pinnacle Protection Plans: http://www.pppcoverage.com/
I think Pinnacle is the BOMB!
Ditto. It's paid for itself 3 times over for me.

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post #19 of 23 Old Jan 4th, 2006, 10:57 am
 
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That's pretty disturbing you guys are so pleased as to having had to use an extended warranty... as far as what it's saying about the bike. I suppose one thing I can say about this bike in its defense: high mileage use and countless hours spent in actual usage do require maintenance and increased chances for problems. Many other bikes are not this rideable and do not acquire this much use overtime.
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post #20 of 23 Old Jan 4th, 2006, 9:43 pm Thread Starter
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Smile Got An Interstate Star for 3 years

I was able to get the Interstate Star Extended Warranty for 3 years from Lone Star BMW/Triumph in Austin; very nice people. Thanks for all of the advice. It is very important to get the warranty before the factory one runs out it saves you a bunch of money.

--Bo
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2012 Candy Apple Red R1200R
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2002 Titan Silver LT (sold)

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post #21 of 23 Old Jan 4th, 2006, 10:49 pm
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And what exactly did the squirrels do that makes you want to panic, Bo?

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post #22 of 23 Old Jan 5th, 2006, 10:43 am Thread Starter
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Quote:
Originally Posted by meese
And what exactly did the squirrels do that makes you want to panic, Bo?

I had the bad habit of zipping out of my drive in the morning. My drive curves around from the back of my house out to the road. We have a large number of squirrels in the yard and one particular evil one had the habit of running in front or cars and bikes. Without thinking about being leaned over on cold tires I used the front brake to miss the little bushy tailed tree rat; $3000 of plastic and aluminium later my Sprint ST was back to it's original self. Now that squirrel tried it again a few days later with my wifes car, he made it past the first wheel but the next one got him. I have stopped playing around in my driveway, on cold tires. I used my mountain bike to practice running over stuff, and took an ERC. And finally keep that hand off of the brake after I commit to the turn, and only two fingers on the brake lever.

--Bo
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post #23 of 23 Old Jan 5th, 2006, 2:31 pm
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Quote:
Originally Posted by Jerrod Maguire
That's pretty disturbing you guys are so pleased as to having had to use an extended warranty... as far as what it's saying about the bike. I suppose one thing I can say about this bike in its defense: high mileage use and countless hours spent in actual usage do require maintenance and increased chances for problems. Many other bikes are not this rideable and do not acquire this much use overtime.
Well, I'm not pleased I had to use it, but I'm darned glad I had it when I needed it. You are right about this rideable bike; it loves to rack up the miles much faster than most others. BMW riders wear their odometers like a badge of honor!

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