So I recently refinanced my auto loan through a local Georgia credit union. The credit union has a great reputation in Georgia and has fantastic rates. Anyways, in addition to my loan, they offered me an extended warranty plan. I've done a lot of research on the company, but even through all my research I've been only able to obtain tidbits of information.

From what I've gathered:

My credit union uses a company called Car Solutions for all their automotive needs. They supply the credit union with cars that fit a person's financial needs. In other words, they tell you what kind of car you can afford. I purchased my 2008 Mini Cooper S through the dealership so this doesn't relate to me. They also provide "extended service agreements". From what I've been able to determine, they do this through Old Republic Insured Automotive Services, Inc.

I know there is a more technical term used for this, but basically they sell me auto insurance they they get through someone else. I guess that's common.

Anyways, it's a 100,000 mile (my 2008 only has 18,000 miles on it)/7 year warranty that covers a lot. Here is their brochure:

http://www.orias.com/Ult+%20Brochure%20(05-09).pdf

I'm eligible for the "Platinum Package". All this at a price of $2100 added onto my loan amount. EasyCare, offered through MINI, is half the length at twice the cost.

It only adds about $33 a month onto my loan, which isn't a whole lot. That said, I don't want to buy something I don't need. I do know that the MINI S tends to have issues (as I had several under the initial warranty), but I also don't want to buy a worthless warranty.

Has anyone heard of this company? Thoughts and suggestions would be great. This warranty stuff is stressing me out.

 

I'm sorry I don't know anything about this specific company, but I do have a cautionary tale. We bought a used car that had an extended warranty. It covered everything! It was awesome! Until we had to use it.

Turns out parts covered in full, but labor was based on some backwoods hourly that didn't come close to rates here in California. As you know labor is your biggest expense. Just something to keep in mind.

 

I bought an EasyCare policy for my '02 R50 and it paid for it self many times over. My dealership had no issues replacing all of my parts or fixing any complaints as they work with Easy Care often.

With Easy Care you get get the price down is you shorten the term or raise the deductible. It isn't cheap but they were great for my 4 claims (~$11k in total.)

 

FWIW, this past Saturday I just set up a loan with my credit union for a 2009 Clubman S, 44k. They offered an extended warranty package from an outfit called "Route 66", for 60 months or 100,000mi, for about $2400.

Sounds like yours may be a better deal, since it's both cheaper and 2 years longer. (But if you put on the miles pretty quick, that may not matter.)

I decided not to do it, since it would only cover me for about 3 years before I expect to hit 100k.

 

EasyCare is wonderful. Ended up buying two warranties for our Mazda MPV minivan (we kept it much longer than originally planned) and both EasyCare warranties paid for themselves (and then some). No hassles at all with repairs.

There is a dealer in CT. Morande Ford. Robin Reeve used to work there. I bought both warranties from him. They were a LOT cheaper there. I'm not sure if they still offer the same discounts. I plan on calling them shortly on my 2010 R57.

 

I have the Mini\BMW extended maintenance program and the extended warranty until 100k. The service and support has been stunning and the very first time I used it, it paid for itself. My dealer is a bit of a drive, but I wouldn't go anywhere else.