Advice on extended warrantee

[Zoli 007]

I've done a search and surprisingly very little information about extended warantees.

I have a 2003 model with 29k miles that is coming up on the end of the time period for the factory warantee. I would like to purchase an extended one but the BMW one only covers an additional 2 years. I'd like a longer one if possible.

Also, I've been quoted 3500 for the BMW warantee. Does this seem like what everyone else is paying or is there something cheaper. Google yields many things but I would much rather go with something that you guys have used or have with success instead of picking a random search listing.

Any help and advice is greatly appreciated.

[Diny]

I have Confidence Plus. It's a 3 year warranty that was $2400 along with the purchase of the M5 at a....KIA dealer. The car had 60,000 miles when I bought it, so I figured it was a good investment. The warranty seems solid and with little or no hassle. The guy at the BMW dealer said that it was very good. No pain in the *** inspector sent or anything like that. Got authorized for over 2000 bucks worth of parts and labor right over the phone, nearly paying for itself within 2 months of owning the car.

They replaced the entire gauge cluster because of burned pixels on the screen, fixed a leaking power steering line, a faulty tail light assembly, and a CPS sensor. All I had to do was pay a $100 deductible.

I'm pretty happy so far. I was also told that VANOS should be covered as well, so that's quite a nice safety net in case disaster happens.

[PedM5]

I have mellenium, my transmission broke about 2 months ago, it was stuck in second gear and wasn't even driveable. I've been hassling with them ever since trying to get it fixed. They are now refusing to fix or replace the tranny stating that, "nothings broken." My mechanic was in disbeleif at this reply and asked, what happens when we put it back together and on the car, then it happens again, then what? The warranty guy refused to answer and just left. I paid more than $4,000 for this extendend warranty and I got it from the salesman at the local BMW dealer. I didn't do any research before buying mine, and now I'm paying for it big time. F*#K millenium

Also this is a 100k mile warranty with a $200 deductable, but what good is a warranty if they don't cover anything?

[Laidback]

Opt for a refund asap (I got hosed down by my aftermarket warranty and went after them) atleast recoup the money you paid.....

Originally Posted by PedM5

I have mellenium, my transmission broke about 2 months ago, it was stuck in second gear and wasn't even driveable. I've been hassling with them ever since trying to get it fixed. They are now refusing to fix or replace the tranny stating that, "nothings broken." My mechanic was in disbeleif at this reply and asked, what happens when we put it back together and on the car, then it happens again, then what? The warranty guy refused to answer and just left. I paid more than $4,000 for this extendend warranty and I got it from the salesman at the local BMW dealer. I didn't do any research before buying mine, and now I'm paying for it big time. F*#K millenium

Also this is a 100k mile warranty with a $200 deductable, but what good is a warranty if they don't cover anything?

[Beast Pilot]

From the low mileage you have on the M5 tells me you don't drive a lot, extended warranty is good for people who put a lot miles on there cars in a short time, most of these cars show series problems at high miles on rare occasions series problems happen at low miles, think bout it ! if you pay $3500.00 for the warranty that means you are paying for the first $3500.00 of repairs, for the M5 the best warranty is the factory CPO and if you decided to go with a third party warranty read the contract very carefully and see what exactly it covers these people are crooks I know I deal with them on a regular basis I have a BMW service facility in California
Good luck

[Zoli 007]

Well thats partly true, I bought the car about a year and a half ago with 10k miles.

So I've put almost 20k miles on it in that time. I was considering the idea of not extending the warantee but the idea of the car hiccuping and there goes a few thousand is not too fond. Then again, if typical problems dont appear till after the warrantee would expire anyway....

From what I've seen I'll be able to extend another 2 years. I seriously doubt I'll hit the 100k miles in that time. So is 3500 worth two years of warantee...?

[Laidback]

imho it's too much to pay and if your planning on modding the car forget about extended warranty...they will find a way to void your warranty (base on my experience and others)....

Originally Posted by Zoli 007

Well thats partly true, I bought the car about a year and a half ago with 10k miles.

So I've put almost 20k miles on it in that time. I was considering the idea of not extending the warantee but the idea of the car hiccuping and there goes a few thousand is not too fond. Then again, if typical problems dont appear till after the warrantee would expire anyway....

From what I've seen I'll be able to extend another 2 years. I seriously doubt I'll hit the 100k miles in that time. So is 3500 worth two years of warantee...?

[JizJizJiz]

Originally Posted by Laidback

imho it's too much to pay and if your planning on modding the car forget about extended warranty...they will find a way to void your warranty (base on my experience and others)....

I just read about your experience...I'm truly sorry. Those cocks .

[KevinM]

Originally Posted by Zoli 007

So is 3500 worth two years of warantee...?

No. Although of course possible, the odds of you racking up $3500 in repairs for a 2003 M5 with 30K miles over the next two years are *very* low. (Assuming you don't cook the clutch and assuming that the clutch is even covered, which it probably is not). Put the $3500 in the bank with a mental note that this is "M5 money" should something go wrong.

I'm all for warranties - I've loved the peace of mind from my full-factory and then CPO warranty, but the deal you describe does not seem favorable.

[a_ok2me]

Originally Posted by Beast Pilot

From the low mileage you have on the M5 tells me you don't drive a lot, extended warranty is good for people who put a lot miles on there cars in a short time, most of these cars show series problems at high miles on rare occasions series problems happen at low miles, think bout it !

$3.5K is steep.

I don't think mileage matters when it comes to these gremlins. I've had electronic glitches from day one through 60K miles.

I paid 2.8K for 4yrs/75 full coverage and $200 deductible. It covered $3,513 YTD. But wait... there's more.

The thing about deductible is the dealer never ever fixes the problem the first time around. Each visit you come back they charge you another $200. After 6 or 7 visits or so for the tech to diagnose the problem to be just the MAF, I dished out $600 and fought for the rest.

Basically, you're probably better off without the warranty or pay extra for $0 deductible. If I did my math correctly, I saved $700.

Since 05/2005 - YTD:

	Warranty	No Warranty	+/-
Total Expense	(7,572.25)	(4,759.25)	2,813.00
Less Self Paid
Cost of Warranty	2,813.00	2,813.00	0.00
Deductible	800.00	800.00	0.00
Uncovered Parts	446.00	446.00	0.00
	4,059.00	4,059.00	0.00
Covered Expenses	(3,513.25)	(700.25)	2,813.00