1st Gen R53 Cooper S Extended Warranty Suggestions

Discussion in '1st Generation: 2002–06 R50, R53 & 2004–08 R52' started by ole97texas, Jul 18, 2011.

  1. ole97texas

    ole97texas New Member

    Jun 29, 2011
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    My son, age 16, just purchased his first car this weekend, 04 MCS, manual, 95k, 1 owner. Is an extended warranty a good or bad idea. If good, what company is the best?
     
  2. Mr. Jim

    Mr. Jim Mudshark
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    With that mileage and age is there one even available?
     
  3. Crashton

    Crashton Club Coordinator

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    #3 Crashton, Jul 18, 2011
    Last edited: Jul 18, 2011
    Congrats on your son's new MINI. I think putting the money in the bank that you are planning to buy a warranty with makes more sense to me. Like Jim I'm surprised there is even one available for a car with 95k.

    Good luck & happy motoring. :Thumbsup:
     
  4. Justa Jim

    Justa Jim Well-Known Member
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    Chuck, does putting money in the BACK add any HP? :lol::lol:

    Jim
     
  5. Crashton

    Crashton Club Coordinator

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  6. Crashton

    Crashton Club Coordinator

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    I'm really worried about all the multitasking you are doing on that horse. :frown2:
     
  7. Metalman

    Metalman Well-Known Member
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    Yeah.... Aren't they trying to pass a law about texting and riding.....:D
     
  8. Nathan

    Nathan Founder

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    Back on topic...

    I did a little checking around and the cost of an extended warranty is about $3,500 with a $100 deductible that will cover you for 2 years or 25,000 miles.

    IMHO you would be better served by dividing the 3500 bucks into some manageable chunks and putting it into a savings account. These plans really only cover major stuff and then you often have to fight to get the coverage you paid for.
     
  9. Crashton

    Crashton Club Coordinator

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    Back on topic, heck Nathan we don't do... Are you coming to QSL after you put the money in the bank? How was the sidewalk sale? Did you buy a new sidewalk?

    Back on topic....

    Miscellaneous rants & ramblings. :crazy:
     
  10. ole97texas

    ole97texas New Member

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    Thanks Nathan & Crashton, makes a lot of sense. We like the wisdom in the savings approach. Will do.
     
  11. k-huevo

    k-huevo Club Coordinator

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    From what I've seen, a MINI backed extended warranty is suitable for a stock vehicle, where service is primarily performed at the dealership. Other plans are well suited for modified MINIs serviced at dealerships and/or independent shops. A lot depends on the prevailing culture of the dealership, but most are under no obligation to deny service when the paying party is not official MINI. There are pressures to follow official guidelines when it is a MINI backed warranty.

    Have the MINI checked out by a tech or enthusiast familiar with the first generation. If many of the typical issues are uncovered, or it is given the thumps up, that may help you with the decision. From my experience the long term issues that crop up with the second generation are more costly than the early model in general. The first generation if maintained well can have a lower service risk.
     
  12. Way Motor Works

    Way Motor Works New Member

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    We do extended warranty repairs all the time. It really depends on what company your using. Shop around and read the list of covered and non covered items. You want to make sure things like P/S pumps, lines, alternators, A/C compressors are covered because if they do not list it specificly it is NOT a covered item. Most warranty companies don't care where you have the work done as long as they are a real brick and morter company and have to be a licensed business and provide a written warranty.
    With 95k be prepared to have an inspection done, most warranty companies will want an inspection to note any existing problems before selling you a warranty.
     
  13. Jason Montague

    Jason Montague New Member
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    :cornut:From an 08 R56 MCS JCW owner, Keith(k-juevo) is 'right on' with this advice.:Thumbsup:

    Jason
     

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