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Discussion in 'General R1200RS Discussions' started by Peter Burridge, Nov 12, 2017.
That's it, she's beautiful, grey and she's a keeper.
Did you have some work done that justified the cost of your extended warranty? I don't get the title and first post. Or you just bought an extended warranty?
I don't really 'get' your don't get Wayne. I have just taken the option and paid to extend my warranty because I'm keeping the bike and I think that having a continuing warranty is of value.
Oh, okay ... it is just as stated then.
I had to ask because it is popular to everyone but you and me to thumb noses at extended warranties. When time comes I will probably buy one because the benefits of an EW is real for me. In every vehicle that I have had with EW has paid for itself, and it is especially important to exercise this option on anything made in Germany.
My reason is mainly due to the possibility of electronic failures in a fairly new model. When the bike is a little older there will be 'workarounds' available and I'll be happy to embrace them. Peace of mind. Of course you get 3 years anyway whereas we only get 2.
I've had two successful warranty claims thus far that would have cost me over £2k.
would not have a bmw without a warranty it has saved me more than once
And you can get a part refund if you decide she's not a "keeper" after all....
What's the cost?
Just under £40 a month if you pay monthly. A bit cheaper if you stump up the full amount.
I had a letter on Saturday offering the service. The bike is 2 years old mid December.
Scary, my three previous bikes were all Hondas and never had anything go wrong to warrant a warranty claim, even after 7 years with the Hornet.
I was looking at the option to extend mine at the end of the year but then picked up that you don't need to extend it immediately on the manufacturer one.
In my mind I don't expect it to need real money thrown at it <50,000km or 5 years so would make sense to get an insurance policy type with a monthly premium attached from say Year 5 onwards.
Wish I had known those existed for my car and they aren't all up front payments for 2 years at a time.
I have never purchased an EW with any vehicle and, for that matter, never needed the normal warranty on any motorcycle - though I never owned BMWs until 2015 so I have no long term experience with them. I do have to agree that with today's electronics, an EW might be something to consider although 40 pounds/month sounds like a LOT of money to pay. OTOH it depends on the work you are willing to/are able to do yourself. Usually, labor is a bigger part of the cost than parts though that may not be true with a computer module since all that is necessary labor-wise is unbolt/unplug the old one and install the new one. Replacing, say, a wheel bearing is the opposite - bearings are cheap; labor is the expense.
and wheel bearings will be "normal wear & tear"
I have always in the past self insured when it comes to vehicle maintenance. If I had paid the equivalent of £40 a month (taking inflation into consideration) into a bank account for every month I owned a vehicle after the maker's warranty has expired then I think I would be quids in.
My car is 4.5 years old. The maker's warranty was 3 years. I'd have £720 in the bank now saved up in those 18 months. I've paid that in repairs but none of them would have come from a warranty insurance policy as all parts were "wear & tear" - rear brake drums after the parking brake stuck on after the car was left unused for a few weeks; leaking shock absorber from impact damage due to taking speed humps too fast and worn bushes leading to suspension arms needing to be replaced. So, my notional £720 has been available to me for those repairs rather than sitting in an insurer's bank account.
I owned a BMW R1150GS for 10 years. All parts changed were either worn (seals in the final drive) or damaged (stone through the headlamp). Nothing would have been eligible for a warranty claim. 9 years of the 10 were out of warranty - that would have been £4320 of premiums for no benefit!
You guys who get more than your premiums back must be very unlucky (or is it lucky, I;m unsure how to categorise it). BMW would not sell the warranty if they didn't make a profit on the job. Plus of course, people with an extended are more likely to continue to have services done at a franchised dealer due to anxiety of a claim being refused, so BMW win again.
YMMV, Pete, but I'm struggling with the economic rationality of a warranty.
What do they generally cost in the US? No opinion one way or the other on the value as this is my 1st BMW.
I paid $945 for a 6 year unlimited mileage policy when I bought mine. In the US we have 3 year, 36,000 mile warranty that come with the bikes but for higher mileage riders that doesn't last long. I've had mine for 20 months, don't ride 5 - 6 months due to this season called winter, and have 50,000 miles on mine. I really hope I never collect on mine but knowing it could be covered to around 150,000 miles gives me a bit of a comfort level. I have never believed in or bought these extended policies but when I spoke with my service advisor he suggested I consider with the miles he knew I rode and the electronics on these bikes. So I look at this way. $945 spread over the 4.5 years after the 36,000 miles were passed is $210 a year. Skip Starbucks or Caribou 40 times and it is paid for.
Thanks. I've owned my RS for about 18 months now and don't drive the miles you do but am planning on hanging on to the bike. What you paid seems pretty reasonable...
That is not a ringing endorsement. The RS is my first BMW, might be my last. Time will tell.
$945 seems awfully cheap. Is the warranty through BMW itself or a third party which is usually the case. Is that six additional years or total?
In the US I don't believe through BMW is even an option. It is 3rd party. My dealer has recommended and sold this same company 3rd party insurance for many years. I believe with these 3rd party insurance agencies for extended warranties a great deal depends on the dealers support and interaction with the company. It is 6 years total from when bike is new. It is also transferable to a new owner for $25 so a seller could ask the new buyer for whatever amount they could get and pay the $25 for the buyer. Dealers would unlikely give you anything at trade-in for the extended coverage but a private party might.
Edit - I'm not sure how much but it was $200 - 300 cheaper buying when bike was new vs later and then I'm unsure you could even get a 6 year policy.
The economic rationality for me is that if the bike suffered a major failure in the next couple of years I’d struggle to pay for it otherwise. My bike is very important to me and things being what they are financially I’m not affluent. If I had oodles of money I’d probably have several bikes and change them before the warranty expired. Because I can’t afford or justify that I extend.
It’s not unlike health insurance. Those very affluent don’t need it.
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