All You Must Know About BMW Extended Warranty
BMW offers only a four year or a 50,000 mile warranty with its cars. Hence, if you are one who drives more than 12,500 miles yearly then you must go for a BMW extended warranty. This is the only way you will be able to reduce your expenses on maintenance and repairs by a considerable amount.
In business and legal terms the word warranty means the assurance of certain facts and conditions by one party to the other as to their truth and occurrence. A warranty agreement, therefore, is nothing but a service agreement between the selling party and the buying party.
In an auto extended warranty agreement the company offering the warranty assures the vehicle owner of bearing certain expenses on repairs for a particular period of time. This keeps your vehicle in top notch mechanical condition.
Since one-third of all vehicles fail during the first year itself it becomes imperative to go for the extended warranty. Moreover, a single repair often runs into thousands of dollars. On the other hand, the warranty expense is often equal to the expense of a single such repair. You can choose between four levels of coverage plans. Powertrain Plans, Powertrain Plus Plans, Stated Component Plans and Bumper to Bumper Plans. The Powertrain Plans give basic coverage on the engine, drive axles and the transmission. The Powertrain Plus Plans further include certain components which commonly fail along with the engine, transmission and the drive axles. The Stated Component Plans cover an extensive list of stated components. The Bumper to Bumper Plans cover all components except those expressly excluded from the contract. The best time to opt for an extended warranty is immediately after you buy your vehicle. This is so because as your car gets older, your warranty expenses will also skyrocket. Now, the next question could be how to know which company is good and which is not? Well, the answer is to check the track record. Old companies with reliable clientele should be preferred over new ones. Brands like Acura, Audi and Lincoln come with a four year or 50,000 miles basic Bumper to Bumper warranty. Chevrolet, Jeep, Saab and Honda give a three year or 36,000 miles Bumper to Bumper warranty. Mitsubishi offers five years or 60,000 miles warranty. The company also offers a very limited Powertrain coverage for ten years or 1,00,000 miles on parts which the flowing oils lubricate. And last but not least it should always be kept in mind that in order to keep your warranty agreement intact you must avoid attaching all kinds of aftermarket components to your vehicle. Further, you must not cause any repair or maintenance works through a non-authorized dealer. Therefore we see that the rules and precautions that must be followed for a BMW extended warranty would be applicable to other vehicles as well. The only condition would be that they should fall under the same category.
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