Make sure you ask the right questions and read the warranty as well as check reviews of the company online. All extended warratied are not the same and you wany a warranty that covers everything except what is excluded; then carefully read and understand the exclusions. Also, you want to confirm how the warranty company will treat SMG.Thanks!
Their prices are about 4K above market so the one thing that makes them attractive to me right now is their extended warranty..![]()
Hit or miss. My experience when I was initially looking for my 550i sport was that Carmax had its fair share of repaired cars. They had a great inventory of Infinities, 350 Z's, BMW's, etc - but on the sunny day that I went, almost half had either bumper or body parts resprayed. That doesn't mean a nice M5 is impossible to find there - just do your extra due diligence like service records, PPI, paint depth check, # of owners. Remember, places like that get their hands on those cars because the franchised dealers passed on them at auction for some reason or another - rough body, high mileage, multiple owners, etc. Sometimes you'll get a relatively clean trade, but for me, buying privately from an enthusiast or from a BMW dealer is my preference.Go or NoGo?
What do you guys think about buying high-end vehicles like M5 with extended warranties from Carmax. Any experiences or thoughts you could share?
Thanks!
Yep - it sure is like buying a future...and betting that you're car will have more $ in repairs than what you paid for the extended service policy. But the question comes down to "how to do you put a value on piece of mind"? Ahh, aren't gray areas great?Thanks guys for emphasizing the SMG coverage. I did ask about it when I had an M5 on hold and was given the it’s-an-automatic-so-should-be-covered line and had since dropped off my radar screen. I will definitely make sure that is on must check list.
I am starting to lean toward a BMW Dealer for this transaction. I engaged my local dealer on this. I will also inquire about buying an extended warranty from them if I found the car in non BMW (is this possible?)
Extended warranty looks like a gigantic hurdle on my way. I hate insurance futures.
Thanks guys for emphasizing the SMG coverage. I did ask about it when I had an M5 on hold and was given the it’s-an-automatic-so-should-be-covered line and had since dropped off my radar screen. I will definitely make sure that is on must check list.
I am starting to lean toward a BMW Dealer for this transaction. I engaged my local dealer on this. I will also inquire about buying an extended warranty from them if I found the car in non BMW (is this possible?)
Extended warranty looks like a gigantic hurdle on my way. I hate insurance futures.
That is good news, Thanks! I assume I can get a quote during the PPI.Yes! You can purchase an M5 from a non-BMW dealership and purchase an extended warranty from a BMW dealership that covers SMG, EDC, etc. after they perform an inspection.
That seems like an ideal way to request the extended warranty when you pay them for the PPI.That is good news, Thanks! I assume I can get a quote during the PPI.
If you dont know this guy personally- ask for references and check those references- get atleast 3. Protect your savings with data & facts.I have found a guy in Houston Tx that travels around and purchases high end cars wholesale per his costumers request. My biggest hesitation is quality assurance.
At some point, a large portion of cars hit the wholesale market. Its not an indication of their quality by being sold via wholesale.I feel like the cars are wholesale for a reason.
If your car is under original warranty or an extended warranty- you will not be denied a claim because it was sold in the wholesale market. The key is to purchase an extended warranty from a reputable firm (search this board for experiences) while the car is still under the original warranty. In doing so, you'll likely save 3-6K.Also getting an extended warranty is something I wouldn't do without, so what if i buy wholesale and take it to a dealer...could they deny it warranty for quality reasons, and how might I guarantee that they will warranty it before the wholesale purchase.
The person that asked about hiring someone to find them an M5 posted on May 11th.This post is 6 months old..