Water in the Engine - Options?

tracedog · 1st August 2008, 18:30

Hey guys, I haven't posted here in a long time but I'm posting now with some unfortunate news. I drove through some water during a heavy storm and my Dinan CAI took some water into the engine....

the water wasn't even that deep, maybe 6 inches.

So the car is now at the shop and the insurance company has taken a look. The following are my options:

1. The insurance company has found a used motor with 51,000 miles and will pay to have the engine installed, roughly $23,000, no money out of pocket ($100 deductible). The engine would be coming from a company called LKQ corp which stores all sorts of parts in warehouses so I would hope the engine is in great shape, out the elements. My car has about 66,000 on it so this would benefit me.

2. I can have a new engine put in but I would have to pay the difference of about $8,000.

The question to the board is, which option would you choose and why keeping in mind I would pay for the new engine but is there a chance that something else could be wrong?? The insurance company says I'm about $5000 from an unrepairable car. And what does this do to the overall value of the car?? Anyone know??

CSBM5 · 1st August 2008, 19:23

They are getting majorly ripped off if it is costing them $23k installed for a used engine -- that's probably a lie to you on their part. Board member Redshift just recently parted a wrecked 2003 M5, so he has a good idea of what a solid used S62 sells for, and it is in the $10k range with no damage and all accessories and modules.

You can buy a brand new motor from Tischer BMW for less than $18k, and it won't come anywhere near $5k in labor to install it.

Hence their whole proposal is bogus imo.

I would get their agreement in writing that they will pay $23,000 for this engine fix. Then I would arrange to buy the motor either at my local dealer, matching the Tischer BMW price or very close to it, and have them give you a quote to install it. You'll come in under the insurance company's "$23k claim" and have a new motor.

Chuck

TopEnd · 1st August 2008, 19:40

I'm not sure if you guys remember when my friends e39 m5 engine blew up on him a few months back, however the motor that they ( the used car dealer) tried to get for him was from LKQ in Florida and that motor had 141,XXX... So be careful.

tracedog · 1st August 2008, 20:12

Can you send me a location of Tischer BMW so I can call them?? Thanks!

Quote:

Originally Posted by CSBM5

They are getting majorly ripped off if it is costing them $23k installed for a used engine -- that's probably a lie to you on their part. Board member Redshift just recently parted a wrecked 2003 M5, so he has a good idea of what a solid used S62 sells for, and it is in the $10k range with no damage and all accessories and modules.

You can buy a brand new motor from Tischer BMW for less than $18k, and it won't come anywhere near $5k in labor to install it.

Hence their whole proposal is bogus imo.

I would get their agreement in writing that they will pay $23,000 for this engine fix. Then I would arrange to buy the motor either at my local dealer, matching the Tischer BMW price or very close to it, and have them give you a quote to install it. You'll come in under the insurance company's "$23k claim" and have a new motor.

Chuck

CSBM5 · 1st August 2008, 20:19

They're located in Maryland and run getbmwparts.com, Tischer BMW presents - getBMWparts.com.

Here's the leg work for you. The S62 part number is: 11001407803

Plug that P/N into the part num field on this page.

Result:
Item Number...MSRP....... Core Price.. Price
11001407803 $22,327.40 $2,000.00 $17,861.92
Engine - Long block
Long block, m5 - 5.0l 2000 - 2003

Regards,
Chuck

FitForFives · 1st August 2008, 20:37

First I would like to say that I am sorry for your difficulties. This story is heartbreaking. Of your first two options, I would be inclined to go for the brand new engine if financial feasible. It takes a lot of the guess work out of the equation imho. I will be interested to hear the outcome. Good Luck

ard · 1st August 2008, 23:13

DO NOT tell them their $23k is bogus. Ask them if they will send you a check!!!

Meanwhile, negotiate for a new engine and install either at a dealer or buy from a dealer and install at a qualified INDY.

My guess is that at $18k for a new one (if ^^CSBM5 is correct) that you can be down to a few $k out of pocket.

I'll put 200k on my cars, so it is worth the new motor to me.

A

MarkQC · 2nd August 2008, 02:33

New motor - - must have some warranty, and YOU get to be the one to break her in etc, AND, god forbid, if you ever want to sell the car, a very strong point in the sale...

SSense · 2nd August 2008, 02:48

It all depends for how long do you still want to keep your M5 with you. If you're planning to change it in near future, then go for the first option where you'll get your car back, use it for sometime and then sell it.
Whereas if you're planning to hold your Beast for many more years ahead, then id suggest you to get a brand new engine, if you can afford it, but make sure you get it installed at the dealer. If the insurance company says they will get the new engine installed, dont trust their words, go and do it yourself and throw the dealer's bills on the company's face.
The previous owner of my M5 had the engine replaced by the dealer, under warranty, he just had to pay for all the hoses and the labour, now the car has got still 1 more year warranty on the engine and all the hoses.
Id recommend you to replace the engine at the dealer, as you'll get the warranty for 2 years.
All the best and let us know with the updates, get well soon to you Beast

nerio02 · 2nd August 2008, 02:52

+1 what the others say..go for a new one . then your sure off "almost" everything, that it is a top engine in top shape

ask for a check for 23k$ and find yourself a good indy/ dealer who wants to place your new engine.

Or ask for your check, buy a other M5 and replace all the good things on your car to the new one. the rest part out .. you will win money on it at the end.

i would go for option 2

(the safer one)