I am considering purchasing an EasyCare warranty for my '02 M5 from Stevens Creek BMW. My car has ~42k miles, and the finance guy selling the warranty says he can only sell me the EasyCare if my car is under 45k miles, and before the end of this year.
He quoted me $3400 for 4 years and up to 75,000 total miles on the car. That is with the $200 deductible. Has anyone recently purchased an EasyCare warranty for their M5? Anywhere else I can shop for a better price?
Sounds like a rush job. Bought an M5 3 weeks ago. Bought Guardians best policy - covers bumper to bumper except wear items (brakes, clutch, tires, etc) my car has 57K miles on it. They will only go to 105,000 miles so I got 36 months or 38,500 more miles with $100 deductable for $2200. You can only buy at time of purchase however.
easy care total care 4yrs/48K miles, 200 deductable for $3300+ tax. You know that easy care is one of the very few insurance backed will cover m5 warranties out there - right?
From what I have been able to research on the boards here, it sounds like EasyCare is a decent company. And, yes, the M5 is expensive to repair and so is not covered by all companies.
First he is obviously trying to reach his year end quota.
I suggest you call a few dealers around the entire STATE- find a few that handle easy care. See what your lowest price is. Then call this guy up on, say 12/30 and say "I'd been discussing an easycare xyz with you and actually found one at ____ 'up north' (or down south) and since we are headed there for new years I was going to buy it from them. I just felt like I should give you a shot at the deal".
I've picked up many a warrant with this tactic- if they can make $100 over cost is is easy money. The trick is knowing the true cost and playing the cards right. Remember, you can always bluff and come back anyway!
most extended warranties are back by a RRG (risk retention group). This means that if the warranty company went upside there is no further protection you have (like what happend to a recent online company -i forget the name). However, if the company is backed by a insurance compnay they are then responsible to absorb the debt/commitments of the warranty company. Easy care is only ones that will cover the M5 and is covered by insurance group. I researched warranty companies for 6 months before buying and easy care was the only "real" choice. They were orignally owned by ford and then spun off as a seperate company.
Some good points here about shopping. The urgency being created by the finance guy selling the warranty is from him stating that he can no longer offer the warranty on my car in 2008. The car can not be older than 5 years. Even though my in service date is March, technically making my car ~5 years and 9 months old, he says he can offer the warranty in '07, but not in '08.
I have decided to postpone my appointment that I had for today to get my car inspected and purchase the warranty.
Does anyone have any alternative sources for the EasyCare warranty that they would recommend?
That is probably a true statment ....I had the same information from easy care (and I was in touch with thier corp. office). If you want you can contact the dealership i bought from - its an independent shop in WA, i am sure they will sell to you. Like i said - 4ys/50K miles additional for 3300. PM me if you want to get thier information. thanks
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