1st time car buyer - need help with extended maintainence & warranty programs

[whacks]

Hi. I'm about to buy my first real car (I've been driving a '01 kia till now that I bought for $3200 off craigslist) and need some advise regarding the extended maintainance & warranty programs.

The car I'm looking at is a certified pre-owned (CPO) '06 325i sedan, with 44,000 miles. I'll be losing the new car maintainence service in another 6000 miles, though the CPO should cover mechanical problems for another 3 years (until Jan 2012).

The dealership was strongly recommending that I buy the 2 year/50k miles extended maintainence program for $2400. They're saying that it'll pay for itself, since it'll cover all maintainence costs till Jan 2012.


Is this really true?
Would you recommend getting this?


I'm also thinking of getting a 3rd party extended warranty, since I'll be driving this car past the CPO warranty. The dealer apparently has close ties with EasyCare, and they're quoting me a 7 year/100k miles extended warranty for $4000. This seems kinda pricey.


Would you recommend this?
Should I get a 3rd party extended warranty before I buy the car, or is it ok to buy the car first & shop around for a few months before getting the extended warranty?
Should I just wait until my CPO warranty expires (or just before my car hits 75k miles) before getting the 3rd party extended warranty?
How do I go about finding a good 3rd party provider? I'm totally clueless on this topic.

[DIL]

How much of a DIY'er are you?

[whacks]

Not at all. I know next to nothing about car mechanics.

If by DIY, you mean finding your own 3rd party service/repair providers, I don't mind putting some effort into this if it'll save me some significant cash.

If by DIY, you mean doing the actual maintainence/repairs myself, then I'm not a DIYer at all.

[forrealb50]

I going through the same thing. I'm also looking to buy a 2006 325i with 43k miles and wondering if I should get the 3rd party extended warranty. I beleive I was quoated $3k for 4years 100k miles. Please post what you ended up doing and how much it cost. Good luck!

[E39Chris525i]

Since you aren't a DIY, then I would get the maintenance package for $2400, though that is pricey. My xi has the maintenance and CPO that will expire late March of this year. Since I have had the xi, I have probably got $2500 worth of CPO warranty and maintenance repairs. Just last week BMW performed the Inspection II on it and over $1000 of work was done, all for free. keep in mind that BMW will not change the spark plugs, fuel filter, diff fluid and trans fluid while its covered under the maintenance plan/CPO unless its an M car. You would need to have these services done out of pocket and best to have it done at a BMW indy shop. To touch base on the other end of the spectrum, you can opt not buying the maintenanc package for $2400 and put that money in a interest account and find a independant BMW mechanic who will peform the work for you much cheaper. The aftermarket 7 yr/100K warranty for $4K is :eyecrazy

[DIL]

Check with BIMRS and your CCA chapter; they have good info regarding indies.