[rolliepoley]

I'm a new M5 owner and really excited to join the club.

I have a 2006 with approx 37k miles. SMG pump replaced, and not planning on driving it much. Probably 6k miles a year. Would it be advisable to get an aftermarket repair insurance plan?

I've read through the previous discussions regarding certain companies(Fidelity, Zurich etc)

Thanks!

 

[GuyGeek]

This is only my personal experience so keep that in mind. I purchased my 2006 M5 with 60k miles a couple years ago and with it purchased the aftermarket warranty.

I only drive the M5 occasionally (about 3k miles per year). It had all of the recall work done and Vanos replaced with the newer ones. All records looked good.

My aftermarket warranty was around 3k for 3 years. So far, I have have broken even with about 3k worth of work covered by the warranty (Alternator, regulator, struts and bushings and some other minor items identified while in the shop getting repaired) and time left on the clock for more repairs when needed.

All this is to say, with the warranty, I have peace of mind that when the car does have problems (and it will), It's most likely covered. If I spin a rod bearing, I won't get hit with a $10k to $20k bill.

Just my 2 cents

 

[rolliepoley]

Thanks for the reply!
What aftermarket insurance do you use? I was considering a Fidelity but it's pretty expensive 6k for 3yrs. 3k for 3 years sound pretty good.

 

[Bucky]

I got a warranty with mine when I bought it. Paid around 3k for a 4 year warranty. 1 Year after I bought it, it cracked a piston. 60k miles roughly.
Warranty covered the engine replacement and the bill was around 15k. Warranty picked up the bill. So I have had my moneys worth out of it.

Piece of mind, get one.

 

[rolliepoley]

Bucky what insurance company did you go through? I'm getting quotes for 5 or 6k for 3 years.

 

[Bucky]

Bucky what insurance company did you go through? I'm getting quotes for 5 or 6k for 3 years.

I'm in canada, I bought it with the car so got a bit of a discount. I cant remember the exact number but I am sure it was around the 3k mark.
I got a bit of a discount through the dealer I bought the car from.

It was Global Warranty, they are in the States too. They wouldn't cover throttle actuators but covered an engine.
I cant fault their service. The engine swap was straight forward and I could use a different indy to what they wanted me to use.
Originally they wanted me to use German Car specialist in Calgary, I talked to the owner there and didnt agree on 75% of what he wanted to do.
So went to Real Auto Pros in calgary and they are good. A little slow but their work is good and honest people.

 

[umichchris]

just be careful about which one you buy and read ALL the details. there's a recent thread about members getting the shaft from a warranty company cancelling their policies w/o real reason or justification. really sad to read.


dont get robbed.

 

[Bucky]

And normally you have to buy the warranty within a certain time frame of buying the car. I think it is 2 weeks.

 

[GuyGeek]

I bought mine from the dealer (texasdirectauto.com) when I got the car. It's master tech.

Welcome to MasterTech VPP - MasterTech Vehicle Protection Program

Your best bet is to call the place you purchased the car from and see what they sell (if it's a big dealer) or your favorite BMW repair shop and see what companies they work with. Also, if you financed the car, call your finance company and see what warranties they sell/recommend.

My bank and credit union also work with auto warranty companies that they recommend.

 

[UNCIVIL]

Heck F'ing YEAH!

 

[TOYNUT]

You either need the warranty or about $10K sitting in escrow for WTF