On the hunt for an extended warranty for your BMW, but don’t quite know how to go about finding it? Well sit back and relax while we get together 10 useful tips to aid you in doing just that.
This is vitally important and is the reason why it is mentioned first. A policy that can be customized to your individual needs is essential. The BMW extended warranty cost will then you be only for what you require and not for something that you will never use.
- Service Level
Try and find out from existing customers what level of service you can expect from the company. It does not help that you have this great policy but get no joy when you interact with the company. Read any testimonials or consumer blogs that you can find.
- Options on resale
Check out the policy options available to you when the time comes to sell your car. You need both the option to cancel the policy or to transfer it to the new owner. Also find out what the cost to transfer is, if it is not free. To transfer is usually the best option to take as it increases your resale value.
Some companies allow you to combine the warranty payment with that of your car payment into one transaction if you should choose to request it.
- What is covered
This ties up very closely with tip 1 so give this tip some added attention as this will directly affect how much you are going to pay. Check what is covered and if there are any exclusions or limitations linked to each covered item. There normally always are so read very carefully so that you can get the best deal extended warranty possible.
- Cost of excess
Check beforehand what the stated excess’s are that you will have to pay in the event of a claim and decide then and there if you can afford to fork out that amount at one time.
- Cost of repairs
Have a good look at what the expected cost of a repair could be versus the cost of the policy and the excess that has to be paid. It might be cheaper to foot the bill yourself
- Talk to a repair specialist
It is a good idea to speak to someone experienced in the repair of your particular vehicle as you can get a good idea of what is likely to fail and what is not. He will also be able to give you good advice as to if the policy is worth the money.
- Compare warranties
Compare the extended warranty against the manufacturer’s original warranty. The closer it resembles the original the better for you.
- The final decision
At the end of this exercise the decision is ultimately yours and should not be taken lightly.
Hopefully these 10 tips will help you to make the right decision and get a warranty that is affordable and meets your needs.