Hi just bought my first BMW 2009 325i ,CPO but during negotiations I think I may have made a mistake I added a service contract and it appears that it covers the same thing as the CPO contract does has anyone done this ? I still have time to cancel if I hurry please hhelp thank you
cpo is good for 6 years or 100k miles from in service date
no need for service contracts. Find a decent bmw shop locally to do all work and maintenance outside of the warranty period. That is all. Save your money.
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A service contract is completely different than a Certified Pre Owned Warranty. How long does the service contract last and how much did they charge? That will determine the answer.
3yrs or 36000 mi cost about 2000
Your first mistake was walking into the finance department of a new car dealership without an ample supply of this:
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If you go through a set of brakes in that time and do all of your regular service, it will pay for itself and then some. You're also paying for convenience. You can drop the car off at the dealer and not have to pay anything and you get loaners, free Starbucks, yada yada yada.
If you are trying to pinch every last penny and dont care about convenience, then you should cancel the service contract and find an independent repair shop that does work much cheaper than the dealer. However, be aware that indepenent repair shops do not have loaners or amenities that dealers have. You may have to wait longer for your car to get repaired too.
Be realistic about your needs and expectations and make the choice. 99% of people are better off getting the service contract because they don't want to hassle with service. Most people on this website are Do-it-yourselfers and we prefer to get more involved and don't mind looking around for the best deal and taking the chance. It just depends on which category you fit into.
Was it a CPO Wrap contract?
Last edited by russoturristo; 03-26-2014 at 06:23 PM.
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No,it's an additional contract but it does repair abs brakes but its only good for 36000 miles I have 27000 do you think I will need brakes
If it's good for an additional 36000 meaning it will end when you have 63000 miles then I think it would be worth keeping.
You will need brakes in that time frame in all likelihood. But for the cost of what you paid, you could have replaced the brakes yourself and pocketed some money. Things like that arent designed to pay out more than you paid for them - thats very simple business. In the end its always better to just pocket your $ instead of putting in a warranty.
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Just to clarify for the OP,
The CPO is a warranty against defects in materials and workmanship and does not include wear and tear items like brakes, tires, wipers, filters, fluids, etc. It's a kind of insurance and its cost is baked in to the resale price of the car. If anything major fails, you should be covered.
The service contract is a prepayment for maintenance in accordance with the BMW factory schedule and it covers most wear items, although typically tires are excluded. It should be good for 36k from the time you buy it, meaning from 27k to 63k. You will need brakes in that time. But the schedule is so limited that you won't get much else for your $2k. A brake job at a good independent with factory parts is about $1k. For the other $1k you will get a couple of oil changes and some wipers, and you get a mechanic inspecting the car for any problems, a nice lobby with wifi, coffee and hdtv, and maybe a loaner. Worth it? That's up to you.
Good independent mechanics are worth their weight in gold. I figure I save 30 -50% for as-good or better service. Check out BIMRS for a local shop or check with the local chapter of the BMW CCA. Even it you keep the contract, it only gets you to 67k, and then you are on your own. Good luck with your car.
Thank you for your honesty and good opinion .i don't have a good mechanic to go to so I may keep this ,though I should have done my homework first before I walked into the dealership
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