Extended Warranty Question - The Unofficial BMW M5 Messageboard (m5board.com)

Jimmy Hill · 10th July 2002, 23:29

Good Afternoon All

Have a quickie again

Have been thinking about keeping the beast long haul - so i have been thinking about extending the warranty

So i did some phone intel and came up with this:

BWM does NOT offer extended warranties - delerships use 3rd parties.

prices based on millage, year of car, level of coverage and deductable.

SO for my 2000 M5 delivered august 2 2000 with 16500 miles, with a bumper to bumper coverage, with $100 deductable the price for a 100,000 / 7 year total ( strictly speaking its 50k/3yrs over the bmw coverage) is $2775..

My question to all those who have either purchased or looked into the warranty is this:

Do these numbers match your numbers - it your warranty aftermarket. Is it true that BMW does NOT offer extended plans. Since it doesnt matter where i get the coverage from cause it is nation wide coverage, i am prepared to go with the best recomendation.

Secondly what about Mods - i will go to a BMW dealership that sells authorised mods like the dealerships selling Dynan goodies. does the warranty cover these parts if they are purchased and installed from an authorised dealership???

Any help will be most apreciated.

All the best

M5Mark

kiwi · 11th July 2002, 00:51

I thought BMW DOES offer extended warranty
As for mods, only the dealership that sells you the mods will cover them in their "dealership" warranty which is different from BMW's (depending on dealer) As for damages due to mods, no warranty will cover that except if you purchased an extra warranty from where you bought the mods. Good luck searching because I'm thinking about ext. warranty as well.

2ND2N01 · 11th July 2002, 01:27

BMW does not offer a extended warranty other then CPO cars. I will be looking into warranty options soon too, but my dealer informed me most of these 3rd party insurance companies will not cover the car bumber to bumber like the factory warranty. Be sure to ask them if you can get a refund if you end your warranty ealry or if you never use it!

buckwht · 11th July 2002, 04:01

Hey guys...

I may be able to help you out. I work at a dealership that sells aftermarket extended warranties. Send me a PM...I'll try to answer all of your questions.

Jim Dolan · 11th July 2002, 04:17

Extending your warranty( bad choice of words, it's not really an extension of the factory warranty) this early, (car only two years old) doesn't give you any advantage. The timing should be about a few months before the four year or fifty thousand miles are up.

Due to the low miles you have so far the 100,000 mile warranty doesn't make sense for you . Ask about 70K/7 years. Price should be about $1,500 to 2,000 and no more.

You have plenty of time to do this, wait till they approach you at the dealer. Or ask them casually about extended warranties and their price when getting service. See, if over the next 18 months their story changes. I say this because there get good deals on warranties and would like to keep your business and the price may go down. Also, this price is negotiable like a car.

Personally, I don't like these products.

chunpng · 11th July 2002, 05:51

Jimmy,

Here's a previous thread that may be of interest to you.

http://www.bmwm5.com/vbulletin/showt...t=warrentygold

Jim,

It's true that you can buy extended warrenty at anytime, and it's probably more optimal if you bought it at 47th month and 49,999 miles. However, the same warrenty coverage will cost more at that time. The analogy is that one can start buying term life insurance at age 60, but imagine the premium at that point.

CP

Jim Dolan · 11th July 2002, 16:11

this is not life insurance.

Jimmy Hill · 11th July 2002, 17:40

Good Morning All

Many Thanks for all of your suggestions and comments

Kiwi
In so far as warranties for Mods - i spoke with a Dinan rep and then checked online to make sure he was not just spinning a yarn. Dinan offer a warranty on the parts that runs parallel with the BMW NEW CAR WARRANTY so if u buy the parts at time of purchase of the car u get the 4 years 50k miles of coverage. AS a MINIMUM Dinan will not let the coverage slip below 2 years unlimited miles. So for example if i buy my parts next year when the beast is 3 years old. I will have a warranty on the parts that will exceed the original BMW warranty. If i do extend the beasts warranty the coverage on the parts will not be extended. I will have a minimum 2 years of coverage regardless when i purchase the parts.

2ND2N01
I never thought to ask about any type of refund. Good idea. the best part is that the coverage is transferable so should i ever be rid of the beast (NOOO) i can use the warranty as a nice golden carrot to dangle infront of the buyer

Jim
Your are right about the age and the condition of the car. True, chances are that i may never hit 100.00k miles but i would like the option to do so. I also understand your point about waiting until the minuet before i venture fourth to extend the warranty, however the longer i wait, the more miles i have and the older the car - the more expensive the package gets, not by much, but why waste the cash for no reason. I would prefer to get it out the way. But i will certainly look in to negioating when it comes to signing on the dotted line.

Chunpng
Thanks for the link - it doesnt quite mesh with my situation but the more info the better, again - u got it right about the longer u wait the more u will pay

Thanks chaps - i will let u know when i get more info from the dealers.

All the best

M5Mark

Bart Carter · 11th July 2002, 18:17

Quote:

Originally posted by chunpng
It's true that you can buy extended warrenty at anytime, and it's probably more optimal if you bought it at 47th month and 49,999 miles. However, the same warrenty coverage will cost more at that time. The analogy is that one can start buying term life insurance at age 60, but imagine the premium at that point.

I don't see how they can justify charging more since they don't provide coverage until the manufacturer's warranty runs out.

Racin' Randy · 11th July 2002, 18:35

I can offer what I did with my car.

Purchased a 2000 M5 with approx 16k miles on it from a BMW dealership. Upon purchase, I asked if the car was 'Certified' (CPO). The answer from the dealership was. They don't CPO M5's. I asked to see the manager who then in turn called BMWNA and asked the real situation and the answer came back that it could be certified, but of course, the dealer wanted me to pay for it. Well, anyway, we hadn't made the final deal and I negotiated part of it away, but I do remember the original quoted costs.

Here is what happened for me.

The car was still within the 3yr 36k full maintenance warranty.
I paid an additional $800 to extend that to 4yr and 50k miles. This takes it to where it covers the final check and also the 1st brake refurb at approx 40k miles. Money well spent, and in addition it also covers oil change, and anything else just like the 3/36.
I then paid for the CPO which was quoted at around $1,350 which takes it to 6yr and 100k miles for all mechanical related repairs. During this CPO process, they installed a new clutch, two new front tires, 2 pieces of weatherstiping and the tilt/tele mechanism in the steering whee.

I don't know about the rest of you, but $1,350 insurance against one major repair over 4 years is really a good deal to me.

Hope this helps..........

Jim Dolan · 11th July 2002, 23:17

Quote:

Originally posted by Jimmy Hill
Good Morning All

Jim
I also understand your point about waiting until the minuet before i venture fourth to extend the warranty, however the longer i wait, the more miles i have and the older the car - the more expensive the package gets, not by much, but why waste the cash for no reason. I would prefer to get it out the way. But i will certainly look in to negioating when it comes to signing on the dotted line.

M5Mark

So there is no misunderstanding this is what I said, "The timing should be about a few months before the four year or fifty thousand miles are up."

Also, the price will not go up if you wait because of the miles if still under warranty. I've actually seen the price go down due to competitive forces in the market.