Extended BMW warranty & Tire/Rim warranty (Canada)

hilfi99 · 01-02-2025, 05:54 PM

Hi everyone, I'm picking up my CPO 2022 M8 competition Coupe tomorrow and wondering if you can share your thoughts about extended warranty (platinum) BMW coverage as well as tire and rim protection. The car still has about a year and a half of OEM warranty left, but the extended coverage extends that coverage for three additional years once OEM warranty is expired. Tire and rim warranty starts immediately once I pick up the car for 4 years.
I realize this question is dependent on personal experience. I wanted to know your general thoughts about this type of car. It will be my first M BMW even though I have been driving BMW for the past two decades. Thanks!

Drako · 01-06-2025, 12:48 AM

I purchased the maximum amount of warranty I could get on the M8 - 8 years and unlimited km for about 10k.

I honestly think I'll come out losing on this as both my 8s have been bulletproof so far, but for me the peace of mind was important.

I'd say get it if you want the peace of mind. Also, if you do get it make sure you negotiate the price!

hilfi99 · 01-06-2025, 06:17 AM

Thank you Drako. Indeed, I ended up purchasing the platinum pkg, but the max it gives us 3 years after OEM warranty, so a total of 7 years. I also negotiated the price as you suggested - got it for about 7k, which is not bad for an avg of 2.3k/yr.

Gfit · 01-07-2025, 05:30 AM

I look at insurance differently. I only purchase insurance to protect me from a major financial hit so I insure - life, health, home, autos and liability. For peace of mind, I have a growing savings account with tens of thousands that I can use for the little stuff.

Drako · 01-07-2025, 09:19 PM

Quote:

Originally Posted by Gfit

I look at insurance differently. I only purchase insurance to protect me from a major financial hit so I insure - life, health, home, autos and liability. For peace of mind, I have a growing savings account with tens of thousands that I can use for the little stuff.

I used to be like that... And then one day I got scarred by an old N63 that randomly imploded on me as soon as the car came out of warranty lol.

Now a days I just don't want the fuss. If the car has issues, the dealer can tow it and let me know once it's ready to be picked up. It's just easier.

Rob_G77 · 01-13-2025, 01:07 PM

BMW (Canada) quotes a price to dealerships and they can then sell it to you for whatever they want. They can mark it up or sell it to you at cost. My sales guy told me there are 2 tiers for price and it depends on how much mileage the vehicle has. Less than 20,000kms and it's about $1000 cheaper.

3 year extended warranty I was quoted $7200, which is BMW price. I don't think my dealership is marking it up at all. The vehicle I am interested in is a 2021.

Rob

01-02-2025, 05:54 PM	#1
hilfi99 Registered 2 Rep 5 Posts Drives: 2022 BMW M8 Competition Join Date: Dec 2024 Location: Ottawa, ON, Canada iTrader: (0)	Extended BMW warranty & Tire/Rim warranty (Canada) Hi everyone, I'm picking up my CPO 2022 M8 competition Coupe tomorrow and wondering if you can share your thoughts about extended warranty (platinum) BMW coverage as well as tire and rim protection. The car still has about a year and a half of OEM warranty left, but the extended coverage extends that coverage for three additional years once OEM warranty is expired. Tire and rim warranty starts immediately once I pick up the car for 4 years. I realize this question is dependent on personal experience. I wanted to know your general thoughts about this type of car. It will be my first M BMW even though I have been driving BMW for the past two decades. Thanks!
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01-06-2025, 12:48 AM	#2
Drako New Member 26 Rep 21 Posts Drives: 2020 BMW M8 Competition Join Date: Oct 2024 Location: Toronto, Ontario, Canada iTrader: (0)	I purchased the maximum amount of warranty I could get on the M8 - 8 years and unlimited km for about 10k. I honestly think I'll come out losing on this as both my 8s have been bulletproof so far, but for me the peace of mind was important. I'd say get it if you want the peace of mind. Also, if you do get it make sure you negotiate the price!
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01-06-2025, 06:17 AM	#3
hilfi99 Registered 2 Rep 5 Posts Drives: 2022 BMW M8 Competition Join Date: Dec 2024 Location: Ottawa, ON, Canada iTrader: (0)	Thank you Drako. Indeed, I ended up purchasing the platinum pkg, but the max it gives us 3 years after OEM warranty, so a total of 7 years. I also negotiated the price as you suggested - got it for about 7k, which is not bad for an avg of 2.3k/yr.
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01-07-2025, 05:30 AM	#4
Gfit Lieutenant Colonel 3347 Rep 1,906 Posts Drives: 2025 M8 GC & 24 Audi Etron GT RS. SOLD: 24 X5M, 2022 M3 2021 & 2023 X3M Join Date: Mar 2007 Location: Westchester, NY iTrader: (0)	I look at insurance differently. I only purchase insurance to protect me from a major financial hit so I insure - life, health, home, autos and liability. For peace of mind, I have a growing savings account with tens of thousands that I can use for the little stuff.
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01-13-2025, 01:07 PM	#6
Rob_G77 Major 1254 Rep 1,460 Posts Drives: Nothing Join Date: Feb 2020 Location: Regina, SK iTrader: (0)	BMW (Canada) quotes a price to dealerships and they can then sell it to you for whatever they want. They can mark it up or sell it to you at cost. My sales guy told me there are 2 tiers for price and it depends on how much mileage the vehicle has. Less than 20,000kms and it's about $1000 cheaper. 3 year extended warranty I was quoted $7200, which is BMW price. I don't think my dealership is marking it up at all. The vehicle I am interested in is a 2021. Rob
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