I have CPO but purchased Zurich warranty - need your opinion

shekhar · 25th March 2012, 04:58

Hi guys, the 2007 M5 (six speed) I recently purchased has CPO till February 2013 but at the advice of the finance rep at the dealer I purchased a 3 year/36,000 mile Zurich warranty that cost me a little over $6K.

My question is, since I have CPO till February 2013 should I cancel the Zurich warranty and get it at a later date? Perhaps right before the CPO expires? I know a year from now the Zurich warranty might cost me more so I wanted to get your insight/experience on delaying extended warranty purchases.

Thanks much!

gt3m · 25th March 2012, 09:38

How many miles on your M? I agree that you probably will not need 2 policies right now. I know for some policies, they use 60k miles as the cut-off for a higher price tier.

shekhar · 25th March 2012, 19:20

My M5 already has 68K miles on it so I guess I'm past that cut off. I think from what you've said and what my gut says I will cancel my Zurich and get it at a later date.

ACG · 25th March 2012, 19:37

I would cancel it but FYI once you pass the 70k mile the extended warranties start to cost a lot more (EasyCare for one). I got off the phone with my warranty company last week and they noted that they move to a 2 year plan as the car is considered a high mileage car and then after 120k miles they move to a 1 year coverage.

shekhar · 25th March 2012, 19:44

That's good to know. I will have to check with my finance rep to see how Zurich works.

Seven11 · 25th July 2012, 08:00

keep the warranty and dont cancel it

chakka · 25th July 2012, 14:04

Quote:

Originally Posted by shekhar

That's good to know. I will have to check with my finance rep to see how Zurich works.

Other thing i've recently learned is the CPO warranty is basically BMW power-train. I think that being the case you may want to consider keeping it so that electronics and such are covered(pending what your Zurich warranty covers). In addition, if indeed the price goes up with the mileage as stated, it may not make a tremendous difference in price vs. coverage if you wait.

Thread below(post #75-forward) discusses CPO and Zurich warranty....

BMW extended warranty?

tmiked · 25th July 2012, 18:16

That's like $10,000 worth of warranties.

If you want the Zurich, why not cancel the CPO?

petesamprs · 25th July 2012, 20:58

You're right that zurich will give you more comprehensive coverage, but if you already have cpo, paying $6k more for zurich is definitely not worth it. Drivetrain repairs are usually the more expensive ones anyway, so cpo coverage is adequate.

In your case though, your cpo expires in around 1/2 a year, so adding zurich for 3 years does make sense. Question is cost of doing it now (and 'wasting' 6 months of coverage) vs paying more in 6 months (when car has more miles)

Sent from my ADR6400L using Tapatalk 2