Extended Warranty ??? - BMW Luxury Touring Community
 
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post #1 of 14 Old Oct 16th, 2010, 5:48 pm Thread Starter
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Extended Warranty ???

I have just turned 30K on the 09 LT and have started considering an extended warranty. Any experience with this decision would be helpful.

Thank you
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post #2 of 14 Old Oct 16th, 2010, 6:32 pm
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Re: Extended Warranty ???

Quote:
Originally Posted by shuster
I have just turned 30K on the 09 LT and have started considering an extended warranty. Any experience with this decision would be helpful.

Thank you
Hi, fellow Jayhawk! (Baxter Springs here 'til I left the nest!). While you're waiting on someone to chime in, take a run thru several of the 'similar threads' listed below on this page. After that, put "Extended Warranty" in the search box and a buncha threads and member experiences will pop up. It's a good topic for folks in your situation.

Oh - and btw; see if your dealer has any info, pro or con. Engle Motors over KC has handled extended warranty claims in the past, and if the dealer in Wichita is still around, they prolly have also. Good luck.
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post #3 of 14 Old Oct 17th, 2010, 9:50 am
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Re: Extended Warranty ???

As far as I know, dealers will only sell the warranty (correctly called extended service contract) at the time of purchase. I doubt you'll be able to walk into any dealer and say, " I want to buy a warranty" and get one. There are some aftermarket companies out there that may sell you one, but the question is, will your local dealer accept it.

I went through this process myself a while back and the dealer wouldn't sell it even though the bike had only 7K on it at the time. The aftermarket company that would sell it was very expensive and coverage was questionable. It's been 2 and a half years since then and I have not had a problem requiring a dealer visit. Put the 2 grand in the bank and collect interest on it (about 1% these days). If you need it it's there, if not you have a down payment on your next bike.
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post #4 of 14 Old Oct 17th, 2010, 11:42 am
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Re: Extended Warranty ???

I called my dealer and they will sell me an extended warranty on my used bike.

$1600 for a 3 y/r unlimited from RPM one.


I still have 1 year to consider so for now I am on hold

2009 K1200LT The Черный заяц 2 March '12 -
2008 R1200GSA Dec'11 - March '12 (sold)
2009 K1200LT The Черный заяц Nov '10 - Nov '11 (sold )
2000 K1200LT Flying Purple Mile Eater May '10 - Nov '10 (sold)
2005 VTX1300s Nov '09 - Nov '10 (sold)


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post #5 of 14 Old Oct 17th, 2010, 1:58 pm
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Re: Extended Warranty ???

Quote:
Originally Posted by pauleknight
I called my dealer and they will sell me an extended warranty on my used bike.

$1600 for a 3 y/r unlimited from RPM one.


I still have 1 year to consider so for now I am on hold
Contact Ted Shred at A&S BMW. He gave me a better deal on a Pinnacle contract. No affiliation, just a satisfied customer. I already used it once to have the FD seals replaced after a bad leak; my deductible was $25.00, the work was performed at BMW of Ventura County.

Gilles & Kathy
BMWMOA# 154719
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2012 BMW X3 (parts and people hauler)
86 Porsche 911 Cabriolet (my "new" baby)



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post #6 of 14 Old Oct 17th, 2010, 8:40 pm
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Re: Extended Warranty ???

Also have a Pinnacle contract, found out that they make two one for a bike under it's original warranty and one for a bike out of warranty. The one that is for the bike that is under the original warranty covers much more.

05' LT Dark Grey, "Battle Star"
14' KTM 1190
03' KTM 450 EXC Dually
72' Honda SL 100
67' Triumph Bonneville
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post #7 of 14 Old Oct 18th, 2010, 10:17 am
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Re: Extended Warranty ???

<<<<<Put the 2 grand in the bank and collect interest on it (about 1% these days). If you need it it's there, if not you have a down payment on your next bike.
>>>>

This is indeed your best advice. This is simply a bet. You are betting that the bike will have a failure that is covered under warranty. The Ins. company is betting you will not. The odds say they will win. Some will say that they did use it and the deductable was $25 or so . Meaning that they only paid $25 for the fix. They actually paid $25 and the initial cost of the warranty.

Put the money you would send to the Ins Co. in a money market acount, add to it each month say $25/$50. You will have the cash to pay for a failure or as said above a down payment on a new bike. YOU WIN. not the Ins Co.

Howard Dusenbery 2000 K1200LTC
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post #8 of 14 Old Oct 18th, 2010, 1:08 pm
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Re: Extended Warranty ???

Quote:
Originally Posted by HDusenbery
<<<<<Put the 2 grand in the bank and collect interest on it (about 1% these days). If you need it it's there, if not you have a down payment on your next bike.
>>>>

This is indeed your best advice. This is simply a bet. You are betting that the bike will have a failure that is covered under warranty. The Ins. company is betting you will not. The odds say they will win. Some will say that they did use it and the deductable was $25 or so . Meaning that they only paid $25 for the fix. They actually paid $25 and the initial cost of the warranty.

Put the money you would send to the Ins Co. in a money market acount, add to it each month say $25/$50. You will have the cash to pay for a failure or as said above a down payment on a new bike. YOU WIN. not the Ins Co.

3yr term on a Western contract runs about $1400, $1600 on Pinnacle.

Bad crank/valve keeper/trans/abs servo....

Assuming this breakdown occurs at the end of the contract term, and your $1600 has accrued 1.5% money market rates for almost three years, do you really think that $1600 plus interest will cover any of these failures?

"The Ins. company is betting you will not. The odds say they will win."

I'd say you're right....except for the thousands of claims equalling millions of dollars that these companies pay each year for the people who didn't beat your odds.

I work for an underwriter, and our building is filled with stories of people who's "friend" told them to cancell their contract after they bought it, only to have a major failure after cancellation.

"This is simply a bet"

Your words, not mine.

I'll bet on the side of caution and recommend others do the same.
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post #9 of 14 Old Oct 18th, 2010, 6:44 pm
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Re: Extended Warranty ???

I teach classes for a service contract company that is one of the largest companies in the world. They cover all of North America and Mexico. Having said this, I know what they charge the dealers for their service contracts. The dealers mark up those contracts about 400%. The most expensive service contract they have is right at $400.00 and the dealer sometimes sales them for $1200.00 to $1300.00. I would try to talk them down on the price. Knowing how much they pay for them stops me from purchasing any service contracts. I worked for Chrysler dealers for 15 years until I started teaching Automotive Technology.

Curtis Traylor
Mountain Home, AR
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post #10 of 14 Old Oct 18th, 2010, 7:38 pm
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Re: Extended Warranty ???

Just for a comparison, the Honda Gold Wing factory 4 yr extended warranty is $450. We got our money out of that the first few months we owned the bike when it needed an alternator at 9K miles.

The bigger issue is getting Honda to warrant all the faulty transmission issues. The forum is loaded with threads from people with all kinds of tranny problems on the GL1800's. Many so far have not been covered with Honda dealers stating they can not duplicate the problem and the owners do not know how to shift. If you installed a heel-toe shifter, it will not be covered period. That's $3500-$5K to fix a known, factory defective, problem!

The WIngs are also notorious for a wicked handlebar shake on deceleration. NOT covered under warranty. I talked to a guy that just bought his 4th Wing, a 2010. All four Wings have had that and I can not believe he would not spend the $350-$400 to install the tapered bearings that eliminates the problem, at least for most.

On the other hand, they pretty much have covered any other items I have seen discussed and even the smallest issues we have had with our bike.
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post #11 of 14 Old Oct 19th, 2010, 12:49 pm
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Re: Extended Warranty ???

Quote:
Originally Posted by zippy_gg
Contact Ted Shred at A&S BMW. He gave me a better deal on a Pinnacle contract. No affiliation, just a satisfied customer. I already used it once to have the FD seals replaced after a bad leak; my deductible was $25.00, the work was performed at BMW of Ventura County.
Thanks Gilles,

Sorry you had to use it but glad you had the coverage.


If the bike is still under BMW warranty I can still sell you a Service Contract with Pinnacle Protection. Check with your local dealer about getting repairs done there and then call me for info on Pinnacle.


Ted Shred

__________
2016 R1200GS Adventure
2006 DRZ400E

2007 G650 X Challenge
2006 GT200
2005 R1200GS


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post #12 of 14 Old Oct 19th, 2010, 5:54 pm
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Re: Extended Warranty ???

RPMOne confirmed to me they will warranty an out of OEM warranty bike for an increased price. Price depends on bike and model.

I have been very happy the two times I have had a claim, and MAX BMW said this company was the nicest they have ever had to deal with.

Toby in New York
1983 R80RT Red (sold)
'03 R1200CLC (T-boned and replaced with)
'04 R1200CL Sidestand problem, BMW traded me for
'05 K1200LT. Goldie, Priceless
Lusting after K1600 GTL
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post #13 of 14 Old Oct 20th, 2010, 9:15 am
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Re: Extended Warranty ???

Quote:
Originally Posted by tobiwan
RPMOne confirmed to me they will warranty an out of OEM warranty bike for an increased price. Price depends on bike and model.

I have been very happy the two times I have had a claim, and MAX BMW said this company was the nicest they have ever had to deal with.
I would steer clear of RPM One, terrible customer service. I bought a pre paid service contract through the dealer and it has not been a good experience.

Regards & Ride Safe!

Bruce
'09 Black LT
4-Wheels moves the body, 2-wheels moves the soul.
IBA # 8547
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post #14 of 14 Old Oct 20th, 2010, 10:31 am
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Re: Extended Warranty ???

...... snip
Quote:
Originally Posted by Scottly
wrote

"The Ins. company is betting you will not. The odds say they will win."

I'd say you're right....except for the thousands of claims equalling millions of dollars that these companies pay each year for the people who didn't beat your odds.
........ endsnip

but then, in order to stay in business, the extended service contract folks are betting that the thousands of other individuals who have purchased contracts and will never use them will have paid MANY more millions than the ones who will use them.

The big hitter here seems to be the FD failure. With a tow service package available through your insurance underwriter you can get the beast off the highway in the event of a failure. This will give you time to arrange reasonable transport home where the FD can be rebuilt correctly for a few hundred dollars. Still cheaper than a service contract.

This being said I WILL buy an aftermarket warranty for my next iPod Nano! I just drowned another one in the Pacific Ocean! Second one in two years! Not a very good track record!

Loren

WAK1200LT
Loren

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