Hi,

I bought a used mini ( 2008 fully loaded with packages & extremely well maintained by previous owner)

My financing bank has offered bumper-bumper coverage ( it's DCU theay call it MBI coverage) for 2000$.

although, I'm inclined towards going for it, just wanted to your opinion about it as to what are the general problems in MINIs that age.

Thanks.

Suyog.

 

I missed one detail - it's for 4 years & 60,000 mi.

 

You're saying that they're offering bumper-to-bumper, ie. coverage for everything but ordinary wear items, such as clutch, brakes, etc., for an additional 4 years and 60,000 miles, for $2000? For a 5 year old car, that sounds like a good deal to me. Though, I would carefully check the terms of the coverage to see what it *doesn't* cover, and if there are any limits as to the total dollar amount they will cover or anything like that.

DISCLAIMER: I don't currently own a MINI. I'm researching the MINI because I want to get one in about a year. My feeling about the reliability of the MINI from my research so far is that it's good but not great. When I buy my MINI, my current thinking is to buy an extended warranty for it.

 

^This, especially the part about carefully checking the coverage. From a repair facility's standpoint, aftermarket warranties are a mixed bag. Some companies are very good, and only require a little up-front paperwork, others are complete nightmares, who hide exclusions in the fine print of the agreement, deny work, and quibble with the service center.

 

Thanks for your inputs guys -

here's a small number of parts that are not covered: oil, brake shoes, belts, hoses, tires, tune-up items, filters, a/c coolants, exhaust and emission parts, sound reproduction, cosmetic and body parts, glass and paint.

still good enough, I guess ?

 

and yes - it covers labor charges as well.

 

Does the extended warranty require you to use a MINI dealer, or any mechanic you want?

IMO, extended warranties are always a gamble...they are sold by insurance companies that basically are a bet that the $ you pay will be less than the amount the pay out. If they pay out less than the $2000 you paid, they make money...if they pay out more, they lose. That's why it's important to read all of the fine print.

You may want to get quote to compare from another source...your credit union or bank may have some prices for alternative policies. It also depends on your personal circumstances...what can you afford to pay if you have a major repair cost over $2000?

Do you think you'll spend more than $2000 in the next four years on major repairs and breakdowns? If you have had other cars, what has been your history/experience? Do you take good care f your cars w/ regular maintenance (especially oil and fluid changes?? How long do you usually keep your cars?

Personally, I'm not a big fan of extended warranties, and rarely get them, but I rarely keep my cars for more than 4 years.

As an alternative, you could always decline the extended warranty, put the $2000 you would have spent in a separate savings account, and use it for any car repairs you may encounter over the next 4 years. If you don't have many repairs (as the insurance company predicts), you keep the unused $. Chances are pretty good that you'll have $ left over.

 

Hello Kenny,

This quote is from my credit union.

Those are some really good questions - I hope to drive this for another 2-3 or at the max 4 years.

How is your experience of MINI service centers Owing to the fact that you can't take it to any service center except for the specialized ones.

any opinion on what problems I can expect with a 5 year old MINI ? I usually take good care of my vehicles.

you make a very good point in putting this amount in the savings and gaining some interest

Thanks!

 

IMO, MINI service center generally are excellent in working on their own model cars. They have full access to the range of OEM parts, have techs specifically trained to work on MINIs, have the specific tools to work on certain problems, etc. However, they are often more expensive (there's a lot of overhead in a MINI dealership).

Of course, there are great mechanics in non-MINI repair shops, although finding them can sometimes be difficult, as often the best ones are found through word-of-mouth referrals, and some mechanics may not work with MINIs very often )or at all). A larger city like Chicago offers a lot of options to fix/repair your MINI.

I'm not the best one to answer the types of problems that a 5 y.o. MINI can face...any car can be a great used vehicle, or it can be an expensive to keep running. Many NAM members have well over 100,000 miles with no major problems. A lot depends on how the car was driven and maintained before you bought it.

You should search the model-specific threads in NAM to get a feel of the type of problems your car model may face. Of course, The majority of NAM threads are mostly related to problems, as few threads talk about how few problems or reliable their car has experienced! MINI is not usually considered the most reliable brand out there (think Honda or other Japanese/Korean brand) but it is reliable enough for most buyers who want a fun car to drive.

Good luck with your car

 

I think I've pretty much made up my mind Thanks Kenny !