Extended Warranty, Question about pay monthly

[RustyZ4]

Hi

I hope you are all keeping well and enjoying life

I have the extended warranty on a 28i, which come ups for renewal later this month, up to now I have made one off payments and gone for comprehensive with £100 excess,, my car has done 54k, and I understand the premium increases dramatically at 60k for one off payments, i might or might not hit that before the next renewal, but it will be close.
My renewal for the year is £440, or if i do monthly £50 = £600, which on the face of it, one off looks a better deal,, now for the big but,,, and the reason for my post, reading up, if I go for the pay monthly option, my premiums will not go up (or at least not by much) at 60k, is this correct? just wondered if anyone has experience of this and if their premiums had increased after 60k or stayed pretty much the same
I did put in £61k just to get an idea of what it would increase by for a one off payment, and the premium was £745 for the year!!

And before some start, "with its not worth it", i have had nothing but a brilliant experience with both the the warranty and my local dealer, in the last two years, I have had the pop up screen replaced, when it started intermittently either not opening or not closing, my ignition replaced, when the key would not come out, both rear and front suspension replaced, due to oil leaks, i don`t know what that lot would have cost, but far more than the warranty me thinks,,

Thanks in advance

Russell

 

[SV8Predator]

If you pay the one-off price, then that's it. It's paid. It doesn't matter if your car goes over the 60K miles in that 12-month period, you've already paid for the warranty. Unless I'm completely misunderstanding your question.

And what is the interest rate for monthly payments? Maybe £30 extra over the 12 months, but an extra £160 for the privilege? :dizzy: :thumbsdown:

 

[RustyZ4]

Thanks for the reply
Perhaps I did not word it very well :headbang:
What I wanted to know, is there anyone paying monthly at the point they went over 60k and if their monthly payments went up,
What I am lead to believe is, that paying monthly is more financially better at the point you go over 60k as they don’t raise the direct debit, but one off payments rise dramatically,
Just wondered if this is true, if so I will renew this year on monthly as I am not sure i won’t hit 60k by the time I have to renew and then it’s too late
I hope that makes sense

 

[2k35is]

Took the warranty out on a 2009 e91 325d when I bought it in 2014 with 40k miles on it. Paid monthly and had it for about 4-5 years. Went over 60k miles in period and premium went from about £30 to £34 per month (some may have been due to increase in insurance premium tax). Excess was £250 and never used it. At time of purchase was concerned about timing chains snapping.
HTH

 

[RustyZ4]

Thanks HTH
Sounds like it may be the way to go
The one off premium on my car next year if I go over the 60k goes up £305,