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Unread 02-23-2012, 04:36 PM #1
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Thumbs up Mini's Factory Extended Warranty - Is it worth the price?

I took delivery of our 2012 CM "S" All4 in early December 2011. At the time of purchase, I opted to wait on the extended warranty so I could make an objective decision, after doing some due diligency, whether it is actually worth it or not ($2400). Does anyone have any input as to the kinds of things I should expect to need repair & the approximate cost, after the 36K warranty expires? Any input would be helpful.

Also, please consider that my nearest factory dealership is 25-30 miles from where I live and I have a great mechanic (R2 Racing in Canyon County, CA) nearby should I choose to use him after the intitial warranty expires. I also went on YELP.com and researched the two factory dealerships nearest to me and found that the majority of owners had negative experiences with both.

Lastly, the car is great after 3K miles. Cornering and ride quality (even in Sport mode) are terrific. I love our new Mini.
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Unread 02-23-2012, 04:56 PM #2
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Mini's Factory Extended Warranty - Is it worth the price?
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Mini's Factory Extended Warranty - Is it worth the price?
That depends....

If you have any plans on modding the MINI then to me it's not worth it cause if the dealers are sketchy then they might say no dice to warranty stuff.

Being a 2012 model there have been a few years to work out the bugs. There have been plenty too. But, for most part there have been much fewer issues as the model has aged.

If you plan on keeping the Countryman for more than 3 years then I'd also do more then factory recommended maintenance. The 15K between oil changes, well I'm not sold on that.

If mentally you have the 2400 bucks spent, put it in a savings account as your own insurance to handle something that may come up after the warranty.

Lastly, welcome to Motoring Alliance, thanks for joining.
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Unread 02-23-2012, 07:57 PM #3
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Mini's Factory Extended Warranty - Is it worth the price?
Welcome! Welcome! to our little asylum. I agree with what Nathan said above. I was VERY fortunate in having the extended warranty as Margi(08 R56 MCS/JCWm) made the Texas Lemon Law list with out breaking a sweat but, as Nathan said,"those bugs have been worked out."

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Unread 02-24-2012, 03:35 PM #4
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I am thinking the same thing. I got my 2011 CM used with 10.8k on the odometer. I just inquired again because i know if the tranny or turbo go bad it will cost well more than the 2500 for the extended warraty til 85k miles.
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Unread 02-24-2012, 05:58 PM #5
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Mini's Factory Extended Warranty - Is it worth the price?
Frankly, had I known then what I know now, I would have taken the extended warranty and service. Totally worth it if something breaks.

If you aren't going to go mod crazy and you are going to drive the MINI into the ground, get the extended warranty.

At the time I wasn't sure if I was going to keep the car after the lease or not. I didn't know I was going to like the car this much. Oh well. The only plus for me now if that I can mod like crazy if I want.
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Unread 02-24-2012, 10:45 PM #6
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Mini's Factory Extended Warranty - Is it worth the price?
Quote:
Originally Posted by Ms. Stig View Post
I took delivery of our 2012 CM "S" All4 in early December 2011. At the time of purchase, I opted to wait on the extended warranty so I could make an objective decision, after doing some due diligency, whether it is actually worth it or not ($2400). Does anyone have any input as to the kinds of things I should expect to need repair & the approximate cost, after the 36K warranty expires? Any input would be helpful.
The factory warranty is 4 years, 50K miles (it is only the included maintenance that is 3-36). If they say the 'extended warranty' is, for example, 6 years, 80K or whatever, that really means 2 more years or 30K miles. That is $1200 a year, for an insurance policy with limitations, not a real warranty. The insurance company that issues these policies probably pays out an average of $500 or less on each one. The markup is huge. So not going with the 'extended warranty' will on average save you money. You might consider investing your $2400 in a fund that you will only use for car repair.
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Unread 02-25-2012, 12:17 AM #7
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Mini's Factory Extended Warranty - Is it worth the price?
I agree with Dave. The reason so many places offer these extended warranties is because they make lots of money off of them -- your money. The statistics on frequency and cost of repairs of different makes and models are precisely monitored and used to set the selling price of the policies, with enough overhead added in to ensure a profit when the costs are amortized over many vehicles, i.e., the more extended warranties they sell, the more likely their profit will match the statistical predictors.

And like an insurance policy, if you run the numbers and decide that you can't absorb the risk of a major repair bill for a problem that would otherwise be covered by a policy of your choice during your post-factory warranty period of ownership (a known future constraint on available funds, for instance) then you might find that the initial payout is worth the long-term peace of mind, even though you're not likely to see a positive financial return on the investment. On the other hand, if you feel you are capable of managing the cost risk of repairs over the life of your ownership period, you're better off saving your money.
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Unread 02-25-2012, 11:00 AM #8
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Mini's Factory Extended Warranty - Is it worth the price?
Had I bought an extended warranty for my MINI it would have been money thrown away. As I went out of the extended warranty without using it I'd have had serious buyers remorse for sure.

Like Gil said so well it is a cash cow for the dealers.

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Unread 02-25-2012, 02:15 PM #9
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Like all insurance, it is a game of averages and statistics. A quick (and very limited analysis I did) showed the average MINI ends up needing repairs to the tune of about 1.5 cents per mile. So from 50,000 to 100,000 miles (typical coverage for an extended warranty), the average MINI can expect $750 in repairs. The warranty companies surely have this data and analysis to a much more exacting degree and have figured out they can make money at the price point given.

As noted, if you end incurring a major repair in excess of the cost of the warranty, it seems like a purchase that was well worth it. If you only have very minor repairs or no repairs, it seems like a waste of money. Alas, really no way to know ahead of time where any particular MINI may end up.
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Unread 02-25-2012, 03:06 PM #10
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Mini's Factory Extended Warranty - Is it worth the price?
I'll add if you plan to keep your MINI for a long time & many miles it may pay off. If you are the type of person who changes cars a lot, it is waste of money.

My wife just bought an 08 clubman. The previous owner had paid $2,700 for a 100,000 mile extended warranty & sold the car with 31,000 on the clock. What a waste of money for them. We can not transfer that warranty to us so it truly was throwing money away for the original owner.

It is a tough choice for sure. If I was buying a new one knowing how I take care of cars I'd pass on the extended warranty.

Hope I'm not muddying the waters here, just trying to help.
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