Extended warranty
- Thread starter ori
- Start date
Have you had any problems with the car so far? If not I would not extend the warranty, if yes then I would. Remember warranties make money for those selling them, so statistically the odds are on your side.
Never taken an extended warranty on any car or bike, but had I kept the 718 I would have due to it needing £1300 of warranty work at 2 1/2 years old and circa 12,000 miles.
Never taken an extended warranty on any car or bike, but had I kept the 718 I would have due to it needing £1300 of warranty work at 2 1/2 years old and circa 12,000 miles.
Scubaregs said:
Not had any warrantee work on this car. Only been 4 months!
For circa £450 on my 35is at the time it was well worth it for peace of mind.
It’s not the little things that would hurt, but suddenly getting a 2-3k bill hurts. So I’m buying peace of mind in case something big goes pop.
Of course they make money on it. That’s why they sell it.
However, like all insurance, if you don’t need it you begrudge having it, but if you do!!
It’s a question of what I can afford. On my previous 35is, I had a 6k claim!
Car insurance……in my last 20 years I had 1 claim for 3k……a lot less than the premiums I paid all those years.
I don’t bother with iPad or phone insurance as I can afford to fix/replace them if I need to, but imagine if engine goes pop on the car. Shouldn’t do, but it does happen. How much would that set me back? Could I afford it?
Rather spend £500 a year on a warrantee and not worry about it.
Hence I asked if anyone knows how much it is on a g29!
However, like all insurance, if you don’t need it you begrudge having it, but if you do!!
It’s a question of what I can afford. On my previous 35is, I had a 6k claim!
Car insurance……in my last 20 years I had 1 claim for 3k……a lot less than the premiums I paid all those years.
I don’t bother with iPad or phone insurance as I can afford to fix/replace them if I need to, but imagine if engine goes pop on the car. Shouldn’t do, but it does happen. How much would that set me back? Could I afford it?
Rather spend £500 a year on a warrantee and not worry about it.
Hence I asked if anyone knows how much it is on a g29!
Interesting you start this thread Ori as I’ve never been interested in extended warranties until now. I usually don’t keep my cars long enough but the M40i (especially in Frozen Orange!) is a keeper. It’s paid for and is one of the easiest cars I’ve ever had to look after! :roll:
Mine is 3 years old in June. It has a 5 year service pack and has always been looked after by BMW. I’d like to think that any major issue would be dealt with positively given its history. However, like you, having a warranty does give some peace of mind.
I’ve not looked into BMW extended warranty yet as plan to do this when I extend my Connected Package and it goes in for it’s pre MOT check which is included as part of existing 3 year warranty. Warranty Direct who come out very well on warranty reviews have quoted me £295 with £150 excess. I also understand this allows me to use BMW main dealer for warranty work.
I will be interested in the views of others and price comparisons but I do think it’s a good idea, just in case!
Mine is 3 years old in June. It has a 5 year service pack and has always been looked after by BMW. I’d like to think that any major issue would be dealt with positively given its history. However, like you, having a warranty does give some peace of mind.
I’ve not looked into BMW extended warranty yet as plan to do this when I extend my Connected Package and it goes in for it’s pre MOT check which is included as part of existing 3 year warranty. Warranty Direct who come out very well on warranty reviews have quoted me £295 with £150 excess. I also understand this allows me to use BMW main dealer for warranty work.
I will be interested in the views of others and price comparisons but I do think it’s a good idea, just in case!
pvr said:
So opinions will vary and experiences will vary.
My mate had a 911 (996) and he said warrantee was a waste of money. Timing chain went on his car and it was a new engine job! He sold the car massively under market value just to get rid of it.
Another mate had a 911 (997) and again he would pay up for a warrantee and bam he had a 3k repair bill on the engine.
I had a new gearbox on my 35is and 2 new rear light clusters on my previous zed.
All big repairs paid for by warrantee.
I found that going with bmw warrantee was easier than using a third party. Firstly, they settle directly with BMW and you don’t need to pay out in order to get the work done and reclaim after. Also it’s quicker as the dealership does all the claim for you.
You can go to the bmw warrantee page and get a quote 90 days before your car hits 3 years. Worth a go no? See what they come up with an excess and without. Also with roadside and without.
I personally would not have a prestige car without a warranty…..you might be lucky and be ok, or you can afford big bills and prefer to self insure. I can’t afford to self insure so I take warrantee.
[ref]ori[/ref], it's not about being lucky, that implies the majority of cars will require work on a warranty item. It's more about being one of the unlucky few who do get a big bill and you don't have a warranty.
Will I warranty mine? If it needs work during the manufacturer's warranty period then probably yes as it will point towards a potentially "problem" car. If it doesn’t need work in that period, it would depend on the cost of an extended warranty but the likelihood is I would not.
Will I warranty mine? If it needs work during the manufacturer's warranty period then probably yes as it will point towards a potentially "problem" car. If it doesn’t need work in that period, it would depend on the cost of an extended warranty but the likelihood is I would not.
I worked in a similar way with the X5s I have had. First one had some expensive repairs and kept warranty which I needed several times. The second e70 had hardly any warranty work, did not renew it and never needed it. The M had 0 warranty work so did not extend it either
I bought my E89 in Sep '16 and at the end of three years I bought a BMW Insured warranty
Its £420 with a £250 excess. It also include at home assist
Ive not needed to use it but its been peace of mind and I would have been financially better off if I had bunged the annual premium in my piggy bank. However Sods Law being what it is, I decided on the cautious approach and probably would do again.
If the time ever comes to sell - the warranty will go with it. Im sure a well specced 35is. Low miles and a warranty would sell ok.
Its £420 with a £250 excess. It also include at home assist
Ive not needed to use it but its been peace of mind and I would have been financially better off if I had bunged the annual premium in my piggy bank. However Sods Law being what it is, I decided on the cautious approach and probably would do again.
If the time ever comes to sell - the warranty will go with it. Im sure a well specced 35is. Low miles and a warranty would sell ok.
Scubaregs said:
I have to disagree here. Cars go wrong. My friend just had a warrantee claim on his x5. Wing mirror indicator went. Small claim, but still £120 plus vat.
His 911 turbo S costs him a lot of money to extend the warrantee on, but he does it every year and funnily enough it has never had a claim.
He can afford any repair, in the same way he can replace any of his expensive watches, but he still insures them.
For me as I’ve explained it’s simple. In the unluckily event that something big goes pop on my car, I can’t afford to drop 6k plus on a potential engine problem. So I’ll pay £500 a year and not take that risk.
From memory the parts alone for my 35is gearbox was circa 4K.
Of course cars go wrong, but not everything that goes wrong can be claimed under warranty.
I understand the peace of mind factor but the fact still remains that statistically you are more likely to be financially better off over the piste without the cost of a warranty.
As with everything, comes down to the cost and what we perceive as value for money.
I understand the peace of mind factor but the fact still remains that statistically you are more likely to be financially better off over the piste without the cost of a warranty.
As with everything, comes down to the cost and what we perceive as value for money.
Scubaregs said:
Yes of course statistics show you are better off without a warrantee financially.
Same with all insurance including car insurance and home insurance.
Again it comes down to what risk level you are willing to take.
Imagine it wasn’t compulsory to insure your car. Would you do it? I know I have paid car insurance all my life and have claimed 3k in total. I’m 46 so I’ve overpaid massively, but without insurance I’m exposed to a potential liability stretching into millions!
It’s down to risk vs liability. Yes the risk is low that I will need an expensive repair, but I can’t afford the liability so I insure against it.