BMW Extended Warranty Options
Choosing the right type of extended coverage for your BMW
BMW is synonymous with luxury. The storied carmaker has fielded some of the most luxurious—and most exciting—sedans ever produced, and the brand commands a devoted following. Precise, German engineering is the secret to BMW’s legendarily agile and pulse-quickening driving experience. The BMW 2-series coupe and 3-series sedan offer addictively drivable entry-points for consumers, while the legendary 5-series set the benchmark for midsize luxury. That’s not even mentioning the brand’s latest offerings in its super-luxury 6 and 7 Series lines.
Why Extend Protection for Your BMW?
BMW bills itself as “the Ultimate Driving Machine,” and anyone who’s sat behind the wheel of one of them will have to agree. But the brand’s legendary performance and styling depends on finely-crafted, highly-delicate precision components. As any BMW owner will tell you, these machines can be temperamental, and when parts break and systems fail, the repair bills can be nothing short of eye-popping. When their vehicle’s original warrantees expire, many BMW owners look to protect their investment with extended service plans.
Turns out, that’s a pretty wise decision. J.D. Power gives BMW vehicles just a 3 out of 5 in Dependability ratings, and the latest CarMD Vehicle Health Index Make & Model Reliability Rankings do not have a single BMW model on their lists of The Most Reliable Makes or The Brands with the Lowest Average Repair Costs. In addition, Consumer Reports named BMW as the brand with the absolute highest average Maintenance and Repair Costs.
Diligent car owners know this means they need to make sure they have coverage to protect them from any costly repair bills that may come their way. Read on as we break down the options to cover mechanical repairs on your BMW vehicle.
The Benefits of a Vehicle Service Contract Compared to a Dealer Warranty
BMW offers several different in-house extended warranty plans. Why the multi-level structure? In short, because it allows drivers across all warranty budget-levels to feel like there is an option for them. However, as those opting for the lower tiers soon discover, unless you’re willing to pay big bucks, you may not get the protection you actually need when repair needs rear their ugly heads.
Plus, no matter the tier, these plans come at a hefty premium because they’re associated with the BMW brand name. Even if you’re comfortable paying for the prestige of the BMW name for your vehicle, chances are that willingness doesn’t hold true for your warranty. In contrast, with a Toco VSC you’re able to leverage more competitive rates, have more comprehensive coverage than the lower tiers of branded warranties offer, never pay any upfront costs, and use the mechanic of your choice.
On top of that, BMW dealer extended warranties limit the number of mechanics you can visit. For coverage to apply, you must take your vehicle to a BMW factory-trained technician who must use only brand-name parts. Such a measure helps BMW protect its brand, but not your finances. Dealerships charge retail pricing for labor and parts
In contrast, with a Toco VSC you’re able to leverage more competitive rates, have more comprehensive coverage than the lower tiers of branded warranties offer, never pay any upfront costs, and use the mechanic of your choice.
Third-Party Vehicle Service Contracts
What is a Vehicle Service Contract?
Products offered to supplement your manufacturer’s warranty are sometimes mistakenly referred to as extended car warranties. This type of coverage doesn’t technically extend the coverage of your manufacturer’s warranty; it is actually a new contract between the contract provider and the consumer. This means you can buy one at any time for your eligible vehicle, not just when the original warranty expires. As such, a more accurate label is vehicle service contract.
Why Choose a VSC?
For many car owners, third-party vehicle service contracts, like the ones offered by Toco Warranty, provide a more cost-effective alternative to dealer warranties. A vehicle service contract is the smart, affordable way to make sure you're protected when covered breakdowns occurs.
Essentially, VSCs work the exact same way as your original new car factory coverage functioned, paying for the parts, labor, and taxes for any covered repairs if your vehicle should ever break down.
VSC Benefits Include:
- Simple claims process
- Ability to choose from a broad national network of repair shops
- 24-hour roadside assistance
- Discounts on car rental and hotel stays in covered conditions
- No down payment
- Low monthly payments
- Ability to cancel coverage at any time
Simple Claims Process
24-hour roadside assistance
No Down Payment
Low monthly payments
Ability to choose from a broad national network of repair shops
Ability to cancel coverage at any time
Taking a Closer Look BMW Repair Cost
When you consider what a typical repair bill can look like for an aging BMW, a Vehicle Service Contract starts to look like a pretty smart bet.
Average U. S. Repair Costs
|Vehicle Repair||Uncovered Cost||Cost with Toco VSC|
|Replace Transmission and
|Regenerative Braking Repairs||$8,500||$100|
|Replace Transmission Assembly||$3980.92||$100|
|Replace Balance Shaft Gear||$3571.38||$100|
|Cylinder Compression Test*||$2819.04||$100|
|Replace Cylinder Head Assembly||$2493.12||$100|
|Replace Fuel Injectors||$467.01||$100|
*Only covered with APPROVED repairs
And when you take into account the typical repair costs for many of the most common problems with vehicles as they age, the prospect of having no coverage looks risky indeed.
[Infographic showing BMW as most expensive for average annual repair costs]
If you own a BMW vehicle that has aged out of its factory warranty, you might want to explore your vehicle service coverage options. For many drivers, a Vehicle Service Contract from Toco Warranty is the best way to ensure peace of mind when unexpected repairs occur.
While you may not be able to depend on a lifetime of trouble-free driving with your BMW, a Toco VSC can make sure that when breakdowns do happen, all your covered repairs are taken care of.