Excellent experience with 1sourceautowarranty, thank you MannyM5!

[cosioboy]

I know there are a few boardmembers that have 1sourceautowarranty as their warranty provider so I wanted to convey my excellent experience dealing with these guys submitting a claim for the very first time.

I bought a coverage policy (their top of the line 'Diamond' coverage') just shy of 4 months ago and I just had my first claim. After noticing some oil leak from the Vanos area (and recieveing excellent technical advice from guru DavidS ), I took the Beast in for a diagnostic. I have to mention that the first three local BMW dealers I tried chose not to accept any third party warranty, but many thanks to boardmember MannyM5 who hooked me up real good with JMK BMW in NJ where I received stellar treatment! Cheers again Manny!

The service department took me right away and witihin an hour had pinned down the problem - the Vanos solenoid valve (and gasket) needed replacement. The SA called 1sourceautowarranty in front of me and literally within 10 minutes all was approved. The parts alone were just shy of $500, and add labor of 3.5 hrs (@$102/hr), tax and all, came a buck shy of a grand.

My car was ready in a day, during which time JMK was courteous enough to give me a 325i loaner.

So for all you folks out there with 1sourceautowarranty, if my experience is any indication, you can sleep well and assured these guys are legit.

[wilsodh]

That's good to hear. My CPO extended is due to expire at the end of the year, and I've been seriously considering 3-year one-source/diamond coverage. This may tip me toward signing up.

Cheers,

[mottati]

do you mind giving us some details, like the terms, cost etc. I have a year left on cpo warranty (will still be a little shy of 100k) and am 'curious' if it might be worth seeking some aftermarket coverage.
Mike

Edit: just went to their web site, not available in california

[cosioboy]

Originally Posted by mottati

do you mind giving us some details, like the terms, cost etc. I have a year left on cpo warranty (will still be a little shy of 100k) and am 'curious' if it might be worth seeking some aftermarket coverage.
Mike

Edit: just went to their web site, not available in california

Yeah, Mike, unfortunately these guys don't operate in Cali (it was some local regulation I remember that precluded them from offering coverage there, although they were open for business there a few years ago). If you actually initiate their plan in another state and move to Cali, you are grandfathered.

I chose the 2-yr/24K Diamond plan (top of the line plan, which is exclusionary as opposed to inclusive, i.e. lists the items that are specifically not covered, so no hidden gimmicks). I couldn't get the 'free' emisions systems option (covers MAFS and 02 sensors) since my 00MY Beast is over 50K miles. Deductible @ $200 (not little, but I calculated I need to make about 8 claims in 2 yrs to break even with the 0 deductible plan). I forget the total amount, but circa $100-$110 per month (i.e. $2,400 annually, 0-interest payment plans for up to 1 year).

For another $175 flat I chose the Titanium add-on (gotta love these marketing names) which includes extended tire+wheel protection, road assistance and towing (200 miles I believe), and very importantly - paintless dent removal. Getting one small ding removed on one panel will generally cost you about $75-$100, so I figured this is well worth the money. We all park at the very end of mall parking lots, yet it seems we are still susceptible to these pesky little dings.

For me the Vanos coverage was the most important issue. I even had a conference call before I signed up for the policy with the salesman and their in-house technician to get verball assurance Vanos faults will be covered (there are horror stories of companies trying to weasel their way out of it saying it is part of the emissions 'carveout'). So they stood by their words. Actually, the BMW SA said that in all likelyhood, the solenoid valve is the problem, but he didn't rule out an entire Vanos failure. The waranty company stated they are prepared to cover it (a couple of Gs in parts and 10+ hrs of labor!) but wanted to have their own inspector come in for an independent assessment (pretty reasonable IMO). We left it off as me having the solenoid valve replaced (no need for their inspector to come for this repair), driving
for a couple of weeks, coming back to the dealer for a status check, and then reassessing whether an entire Vanos unit is needed. So very professional all in all.

So if discussion is able to pursuade anyone to chose the plan, so be it, hope you have as good experience as I have had to date. These guys offer existing members $50 per referral, so would appreciate the mention for future subscribers, with the caveat that one should do one's own research - I am not here to market 1source, just sharing my (so-far) pleasant experience with their offering. If you happen to be a local, the referral will go for beers on our next meet (on me that is).

[wilsodh]

Thanks again... good info!

Cheers,
Dave

[cosioboy]

Forgot to mention something important - mods!

These guys will likely cringe by the thought of headers (which I see you have, Mike). Kinda bummer for me too as I want to put on the SS headers, but might have to wait for the end of the coverage to do it...

[kwalls]

I realize the importance of a warranty and that ownership after the warranty ends can be expensive, however I am attempting to understand the economics of your recent mechanical problem.
You indicated that the parts and labor to fix your car was about 1K but you also indicate that the yearly cost was around 2.4k. You have a $200 deductible so the visit cost you $200.
Therefore assuming you have no other claims this year you spent $2,600 to fix a $1000 problem.

Seems like you would be ahead with your example if you paid yourself the monthly charge and put it in the bank for future mechanical problems.

Ken

[cosioboy]

Originally Posted by kwalls

I realize the importance of a warranty and that ownership after the warranty ends can be expensive, however I am attempting to understand the economics of your recent mechanical problem.
You indicated that the parts and labor to fix your car was about 1K but you also indicate that the yearly cost was around 2.4k. You have a $200 deductible so the visit cost you $200.
Therefore assuming you have no other claims this year you spent $2,600 to fix a $1000 problem.

Seems like you would be ahead with your example if you paid yourself the monthly charge and put it in the bank for future mechanical problems.

Ken

Hi Ken,

Sorry, I meant $2400 for the 2 yrs (entire policy life), not annually (I was right that it is about $100 a month, but just realized I said $2400 annulaly, and it should have read $1200). Otherwise you are right, wouldn't make that much sense.

And the $1,000 problem may turn out to be more like a $4,000 should we discover there are more issues with the Vanos unit itself (hoping not). I am not a big fan of extended warranties as a principal (for electronics, furniture, etc.), but when it comes to a (originally priced) $70K+ priced car where even the most minor of visits to the repair shop costs a few hundred, I thought it was a wise thing to do.

And the end, it's a psychological (and perhaps numbers) game...

[ard]

Why is it that in Europe you buy breakdown insurance (extended warranty, whatever it is called) on an annual basis, just like regular insurance... but in the US you buy it all up front?

(The answer is probably that it is more profitable to buy it up front, but I was curious...)

[stanm5]

I made several claims with them while I owned my M5, all calims were approved and I found them easy to deal with.
When the warranty on the P car is up I'll buy their warranty again.
Cheers,

[FredW]

Originally Posted by cosioboy

I have to mention that the first three local BMW dealers I tried chose not to accept any third party warranty, but many thanks to boardmember MannyM5 who hooked me up real good with JMK BMW in NJ where I received stellar treatment! Cheers again Manny!

What other dealers did you try. I've been using Bell in Newton, NJ, but have not had to use my third party yet. I'd like to know who not to go to.

Thanks,

Fred