How to Cancel My BMW Extended Warrantyby Lea Clark
All new BMWs come with a manufacturer's warranty. As of 2010, the original factory warranty on BMW was for 4 years or 50,000 miles, whichever is reached first. If you plan on keeping your vehicle for longer than either of those periods; you might want to purchase an extended warranty. Most dealerships offer their own extended warranty, and there are many companies with the sole purpose of providing extended vehicle coverage. BMW Corporate offers a sponsored extended warranty called the original owner protection plan, and it adds an extra 2 years and 50,000 miles of coverage. This plan can be purchased by original owners through a BMW dealership.
Gather all the supporting evidence you may need. If you sold your vehicle, you will need a copy of your bill of sale. If your car was written off in a car accident; you will need proof from your insurance company.
To cancel a dealership-issued warranty, deal with the dealership's finance manager. To cancel the original owner protection plan deal directly with BMW North America, call the necessary provider and get details regarding exactly how to cancel the plan; as each warranty plan has different terms and conditions.
For the original owner protection policy, BMW North America requires a reason for cancellation and a written letter detailing the cancellation or transfer. Prepare a signed letter, attach a copy of your proof, and mail directly to BMW North America.
- Your vehicle's VIN can be found on the lower right-hand corner of your windshield. The VIN is a 17-character sequence.
- BMW's original owner extended plan can not be cancelled simply because you no longer want it. You need to have just cause, such as sale of the vehicle or having your vehicle totaled in a car accident. A refund will be issued only if the policy is canceled in writing within 30 days of the occurrence of the reason for cancellation. If you sell your vehicle to a private individual, for a fee you can transfer the original owner protection policy to the new owner.
- There are many types of extended warranties available. Most dealerships offer their own extended warranty plan; not necessarily endorsed by BMW North America. If you purchase an extended warranty from the dealership, make sure you fully understand the terms and conditions.
- You have up to expiration of the original factory warranty to purchase BMW's original owner protection policy. Make sure you purchase in advance of reaching the expiration date and mileage. If you are even 1 mile over the mileage limit or your date-of-purchase time has lapsed, you will be ineligible for the coverage.
- If you are going to purchase an extended warranty from third party, do your due diligence in verifying the reliability of the company. Third-party warranty companies have been known to appear on "scam alert" lists.
Items you will need
- One year warranty gold medal image by patrimonio designs from Fotolia.com