Do You Have an Extended Service Contract? - BMW Luxury Touring Community
 
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post #1 of 15 Old Sep 7th, 2008, 2:15 pm Thread Starter
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Do You Have an Extended Service Contract?

I am coming down to a final decision on purchasing and extended service contract. It seems since I bought it private party and the factory warranty has expired, I have only one option. A US Warranty 3 year contract for $1235.00.

So if you can answer the following questions:
1.Do you have and extended service contract?
2.Have you ever used it?
3.If used, was it easy to get the claim paid?
4.Finally, was it worth the investment?
Thank you in advance to all that answer!
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post #2 of 15 Old Sep 7th, 2008, 2:37 pm
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Re: Do You Have an Extended Service Contract?

Quote:
Originally Posted by tonygret
1.Do you have and extended service contract?
2.Have you ever used it?
3.If used, was it easy to get the claim paid?
4.Finally, was it worth the investment?
First, there are good, solid LTs and some that aren't. My 2002 has been very good to me. I bought it slightly used, as you did your 2005. I have done all my own wrenching, I know the bike well. I did have one small issue covered by the original factory warranty. Just one...

The question is how lucky you feel? And, how well maintained has your '05 been? Did you get service records? Any known problems?

1. I bought an 'InterState Star Sport' extended warranty from Bob's BMW in Maryland in 2005. It expired last month.

2. I only used it to have my rotten, lousy, trunk latch replaced by one of Mike Gore's marvelous kits!

3. The claim was ez.

4. No. Mine cost about the same as yours would. Around $1250. So, I basically pissed away a Grand.

When I look back at ALL the Extended Warranties I've ever bought, I can't really say I got my money's worth out of any of them.

If you DO elect to get the warranty, make SURE it covers, ABS, Seals & Gaskets, and all the other obvious pricey parts. Many don't. Mine did.

Good Luck!

J. Averill Townsend
Bloomfield Hills, MI


IBA# 24374

2002 K1200LTC - Silver
1978 R100/7 - Very, very Black
2004 Bushtec Quantum - Silver, of course...(SOLD)

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post #3 of 15 Old Sep 7th, 2008, 7:50 pm
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Re: Do You Have an Extended Service Contract?

Yes I bought one it was about $1000. I used it on a Final Drive and it was easy to use. I do my owen service I showed them my parts bills and records for my service. I got a little better than 1/2 my money I paid back for the policy in that 1 and only repair. I liked the piece of mind having the policy. Jim
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post #4 of 15 Old Sep 7th, 2008, 8:23 pm
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Re: Do You Have an Extended Service Contract?

yup.. nice to have the "peace of mind" FOR ANY HUGE REAPIRS... I look at it as yearly insurance... not just throwing it away....

Interesting how our "insurance policy" premiums are also "throwing away" money when you don't have an accident, etc.

...............
J.M.J...
Dcn Channing

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post #5 of 15 Old Sep 7th, 2008, 8:40 pm
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Re: Do You Have an Extended Service Contract?

When i got a Pinnacle ext-warranty last year when my 05' factory warr expired they sold me the wrong one, it was for a used bike that was not under a factory warranty. They called me and we had to re-do the paper work and all was fine. I do know that the other one did not cover what the one I have now does, like some of the seals.

05' LT Dark Grey, "Battle Star"
14' KTM 1190
03' KTM 450 EXC Dually
72' Honda SL 100
67' Triumph Bonneville
65' Honda CB160
70' Honda CB350
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post #6 of 15 Old Sep 8th, 2008, 9:09 pm
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Re: Do You Have an Extended Service Contract?

Just bought one on my GT to take over when my factory warranty expires in about 2 weeks (36K mark). I just wanted the peace of mind.

I bought mine through Lone Star BMW in Austin and they gave me a very good deal.


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'99K1200LT - "Bertha" - gone, but not forgotten!
'86 Concours - "Horse with no name" (under reconstructive surgery)
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post #7 of 15 Old Sep 8th, 2008, 10:05 pm
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Re: Do You Have an Extended Service Contract?

Extended Contract is really one of personal choice.

You are making a bet.

You are betting that yes my bike will have a serious breakdown over the next xxxx miles. I will pay for that breakdown NOW. Then when it happens the policy pays me back, Of course the Insurance company knows that they will win most of these bets and make money.

Put the 1000 in a money market fund, let it make money for you, leave it alone while you own the bike. If the bike does not fail during your ownership you win. If it fails you have your money to pay for the repairs, money that has been working for YOU in the mean time.

Howard Dusenbery 2000 K1200LTC
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post #8 of 15 Old Sep 8th, 2008, 10:50 pm
 
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Re: Do You Have an Extended Service Contract?

Howard said it all for me. I'm 57, have a stable of cars, trucks and bikes. and I don't buy extended warranties, ever. Waste of MY money; you must decide for yourself. I think that they are for folks who might have difficulty coming up with a couple thousand cash in the event of a problem.
Find ways to save, starting with the "premium" as Howard said, build an emergency fund. Takes discipline. Good luck.
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post #9 of 15 Old Sep 8th, 2008, 10:58 pm
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Re: Do You Have an Extended Service Contract?

I bought my '06 used & an extended warranty until 2013 - with my factory still in place. It's just insurance - I have life & health insurance too.... If any of the "heavy stuff" breaks, it's covered + I have something to add value when I sell it down the road...
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post #10 of 15 Old Sep 8th, 2008, 11:42 pm
 
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Re: Do You Have an Extended Service Contract?

I have found this to be a good value and covers a ton of things. Drop Paul an e-mail and tell him you were refered by a Firefighter in Wisconsin. He will take good care of you.



Dave


Paul Paniccia
Auto Resource, Inc.
8001 Hopper Road
Cincinnati, Ohio 45255
513.231.8606
Fax 513.231.8608
Toll Free 800.860.9969
e-mail [email protected]
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post #11 of 15 Old Sep 9th, 2008, 9:25 am
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Re: Do You Have an Extended Service Contract?

It's not worth it. If something does go wrong, you call them up and they will try to give u an excuse as to why your problem is not covered. In the long run it will cost you money. And the insurance company is making money in the long run.
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post #12 of 15 Old Sep 9th, 2008, 11:09 am
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Re: Do You Have an Extended Service Contract?

I bought my used LT from a private party but purchased the extended warranty from LoneStar BMW here in Austin. For me it was peace of mind. It doesn't cover seals since the factory warranty had expired, but would cover an ABS pump or final drive both of which would cost more than the insurance did.

That said, extended warranties are sold because there is profit in it for the seller (i.e. fewer claims than sales). Read the fine print and make sure you're aware of what you are and are not getting. All extended warranties are not created equal and I would be reluctant to buy one without knowing how my local BMW dealer would support it.

Good luck on making the best decision for you.

Benny C. (Central Texas)
2001 LTC Pacific Blue (Babe...the blue ox)
1986 Kawasaki Concours (Connie) sold
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post #13 of 15 Old Sep 9th, 2008, 11:13 am Thread Starter
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Re: Do You Have an Extended Service Contract?

Quote:
Originally Posted by whiteMTNmark
I think that they are for folks who might have difficulty coming up with a couple thousand cash in the event of a problem.
Find ways to save, starting with the "premium" as Howard said, build an emergency fund. Takes discipline. Good luck.
Luckily, I have the cash now for the warranty and would also in the event of a breakdown. I pay cash for all of my toys or I don't buy them. So that's not the issue here.

After loosing my house in the 1994 Northridge earthquake I have been "over-insured" on everything. Of course I didnít have earthquake insurance. But now I have every coverage there is. For instance I have flood insurance on a property that would take a biblical downpour with Noa sailing by for water to get under my door.

As far as the LT goes, it was this forum that made me believe I needed one and needed it soon. I have had other bikes and have been on other forums, but the list of costly catastrophic failures written about the LT on this site would get anyone uneasy.

I realize itís a personal choice but I was, and still am, hoping to find a consensus on this survey so I can make an educated decision based on statistics and not undue fear.

Thank you all for you help so far!
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post #14 of 15 Old Sep 9th, 2008, 1:13 pm
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Re: Do You Have an Extended Service Contract?

Quote:
Originally Posted by tonygret
I realize itís a personal choice but I was, and still am, hoping to find a consensus on this survey so I can make an educated decision based on statistics and not undue fear.
There are many more LTs that do NOT break, than do...you only hear about the failures, not the non-failures.

J. Averill Townsend
Bloomfield Hills, MI


IBA# 24374

2002 K1200LTC - Silver
1978 R100/7 - Very, very Black
2004 Bushtec Quantum - Silver, of course...(SOLD)

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post #15 of 15 Old Sep 9th, 2008, 1:47 pm
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Re: Do You Have an Extended Service Contract?

Hi Tony!
I have decided not to purchase an extended warranty for my 06 K1200LT as I believe that there are more of our bikes that don't have problems than those that do. I will just set aside the funds in investments and bite the bullett when and if I have a breakdown. After looking at some of the extended warranties, and all the fine print, it is hard to decipher what is covered and what is not. As was said on this forum, insurance companies are out to make money and I don't want the hassle of arguing my claim with an insurance adjuster.
Take care!
Jim
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