Purchased a 2021 330i with 24k miles from CarMax. Carfax shows it was previously a lease but it has no service history. I don’t drive much (maybe 5-7k a year) so I’m not sure if it’s worth purchasing the warranty. It will be 5 years for $2900 with a $300 deductible.
What would you guys do in my situation? Should I just purchase it for the peace of mind or is it a rip off? Would like some advice.
Thanks
You must log in or register to comment.
With that high of a destructible it’s basically just insurance against a catastrophic failure. IMO at that mileage and yearly usage you probably won’t get that money back. However, knowing that if something like an engine failure happens you will be covered sounds worth it to you, go for it. Or if you simply don’t have the 5-10k sitting around to cover a repair like that. But do note the chances of a failure like that happening are very very small.
Ive used my maxcare warranty probably 4 times on my 2012 335i @120k miles. Thing is, if the bmw service center or dealership charges above “market” for labor, then youll still come put of pocket for part of any repairs. My deductible when i bought it was 600 but ive definitely used more than what i paid for it long ago. I still have 5k miles left on my warranty.
I would buy a BMW warranty any day of the week. If you do not like that price, look at some of the other options. One issue in 5 years though and that warranty paid for itself.
What is the mileage on the warranty? Keep in mind that it is total miles and not incremental.
Realistically you are probably fine without it, but it is a must get for me when buying from CarMax. One reason I say that is because I found out with my old 135i the cap the warranty covers is the purchase price of the car. I had a few very expensive things go wrong with that vehicle and MaxCare covered it all. One other car the price of the warranty and what I used evened out. On another I paid more for the warranty than work I had done.