bmw 530 warranty

[laingy]

Just been given my quote for the warranty extension on my 03 bmw 530. It is about #800 which seems excessive but would like to get some feedback on what others have done on this forum. Have they renewed their warranty or not? I probably plan to keep this car longer than i ever planned as it hasnt gone wrong and is such an able performer.

[dcb]

laingy said:

Just been given my quote for the warranty extension on my 03 bmw 530.
It is about #800 which seems excessive but would like to get some
feedback on what others have done on this forum.
Have they renewed their warranty or not?
I probably plan to keep this car longer than i ever planned as it
hasnt gone wrong and is such an able performer.

By buying the warranty you are effectively saying that the car
is unreliable enough that you are likely to make a claim.

As with all insurances,

probability of repair * average cost of repair plus 10% profit

is the cost of the insurance.

As you might imagine, I didn't renew my warranty at renewal time.
I'll take my chances with repair costs. It is a fairly
reliable car.

[rob05]

Would you be of the same opinion if you were an e46 m3 owner? 90% of the feed back ive had here says otherwise,i wish i had your faith i'd save 1100 quid

[jk75]

I would extend it IMO.

Peace of mind and one less worry. Don't see how you can judge a car on reliability vs whether to get warranty, you would not buy the car in the first place if you thought it was unreliable.....unless your getting a TVR of course

You never know if the engines gonna go or something equally disasterous...My mate had what he thought was a bullit proof BMW diesel 320 and that engine went BOOM.... He never extended his warranty and this happened 6 weeks after. Not saying they all do but SOD's law n'all.... and he felt an idiot, especially after he asked me at the time whether it was worth extending and I said I did on all my cars....

I myself don't like running risks and like to sleep at night. I know people lament that you can stick the £800 or so quid in the bank and save it over years as a contingency fund, but I know for a fact that I (or more likely the missus) will find a better use for it i.e. bigger deposit on the next car or some new handbags .....

Also excellent for resale, as a potential buyer will see full service history and have peace of mind that even if it only comes with a months worth left of full manf warranty, ...If it blows up down the road he's covered so to speak and he can renew without the hassle of expensives inspections....

Amost like a dealer sale at private prices, definite plus in my book.

JK

Edited by jk75 on Tuesday 11th July 13:09

[vee]

Doesn't the renewal have some sort of excess on claims, £100 or there abouts.

Why not consider 3rd party warranty that covers the major things (engine, gearbox, etc, etc) for half the cost. Witht the cost of the excess you're probably only going to claim when there is a major problem anyway.

[eliot]

When it jumped from £600 to £970 a couple of years ago, I binned it. You’re effectively spending nearly £100 a month on "repairs". Looks like they have dropped it a little, but £800 is still too much. It needs to be back down to £600 really.

[dcb]

jk75 said:

I would extend it IMO.

Fair opinion.

I've had cars with warranties and made claims which were rejected.
That made me a bit anti-warranties.

I've also had cars where a complete replacement
reconditioned engine was required.

jk75 said:

Peace of mind and one less worry. Don't see how you can judge a
car on reliability vs whether to get warranty, you would not buy
the car in the first place if you thought it was unreliable....
.unless your getting a TVR of course

This doesn't seem to add up to me. Some folks [ not me ]
buy cars with their hearts, not their heads.

Some cars are reliable, some aren't.

Some cars you WILL need the warranty, for others it's
just a bit of paper in the back of the drawer.

jk75 said:

You never know if the engines gonna go or something equally
disasterous...

True, none of us can predict the future, but we can make
a reasonable guess at it.

If you buy a car that you can't afford a reasonable range
of repairs if it breaks then you bought a too expensive car.

[Laingy]

i do not want to renew the warranty as the car just went for service and bmw announced that there would be an additional 1200GBP for wear and tear costs, hence I would rather not bother, get an aa membership and 'run the risk'

[jk75]

dcb said:

This doesn't seem to add up to me. Some folks [ not me ]
buy cars with their hearts, not their heads

Have to agree, I bought a Marcos Mantis and that cost me a small fortune. I was told it was a reliable equivilent to a TVR and it was, but the build quiality was terrible and I was constantly having to put things right.....

I think I'm one of those very risk averse people. I've admitedley probably spent a small fortune on warranties and only made a few claims, which total about 8k. If I add it up I've probably broken even, but as ever, horses for courses.

JK

[jamesk]

JK75 what an idiot you sound.

A Marcos a reliable TVR? What are you smoking? You agree with it but it cost you a fortune to "put things right"? It was reliable but build quality was awful? Stop contradicting yourself.

[Laingy]

Another point of interest, i recently sent my car for the 26k service and bmw announced i would need an extra £1200 of 'wear and tear' costs done. So I took the car to an independent who said that all that is needed is £250 of work done, they said they couldnt belive that BMW had quoted so much extra work (I gave them a list of what they required to do, including changing brake pads and discs), saying I had been taken for a ride. They also advised me not to renew the warranty as for a low mileage car the chance of something big going wrong is fairly limited, and if you are paying close to £1000 a year for the priviledge, if something did go wrong the additional cost wouldnt be that much.

But he did end the conversation saying it is up to you in the end though!

[jk75]

james said:

JK75 what an idiot you sound.

A Marcos a reliable TVR? What are you smoking? You agree with it but it cost you a fortune to "put things right"? It was reliable but build quality was awful? Stop contradicting yourself.

Steady on cowboy and actually read what I said.....

Reliability to me is, will it start every morining and drive well and it did, everytime and very well I must add, awesome in that respect. The engine, drive train etc. are bullit proof. It was cosmetics (interior) where bits fell off and the car leaked like you would not believe. Also the air-con was very very poor. Basically I got soaked when there even light rain and I was boiled in the summer....and bits came off in the cabin and boot. I meant being a reliable TVR as being it was outrageous in looks and was reported to be better built all-round and not just in the engine department. You can have a reliable car that still needs work done.

Suggest you read a little more or possible ask someone to explain what they ment before you start being insulting... If I did not explain myself or use the 'correct' terminology then I apologise to all. It was meant as a response to the fact that you sometimes buy with your heart and not always your head, even though you may convince yourself otherwise.

But sshh mate I would appreciate a word before you start slagging me off.... Not how I operate anyway....

JK

Edited by jk75 on Thursday 13th July 15:17

Edited by jk75 on Thursday 13th July 16:36

[rob05]

I took your advice and i paid £1050 quid,i can rest in peace now and not in pieces!

[Laingy]

i still think it is a very expensive insurance policy paying £1000 to cover say a potential £3000 claim?? (not sure exact figures). A friend of mine who used toown a number of bmw dealers thinks they are now far too expensive.