Extended warranty

[setch993]

Hi to all

I have a 2002 S54 ZM coupe. Bought it recently, love it. Best with the DSC off.
Just done 46 k miles, but had engine change (under BMW warranty at 28k miles August 04). Hence new engine covered only 18k miles.
It currently has BMW warranty (rolled fwd from previous owner, very reassuring when buying). The warranty expires October 06.
I have just enquired about extention to the warranty, when it expires in October 06.
Quoted £1050 for 1 yr.

My question to the body of knowledge is:

Is this best value and to be considered 'essential' with this kind of car ?

On the one hand I think 'mm' BMW reliablity, why bother; on the other, I get all hot under the collar when I contemplate the magnitude of a bill if I don't and something goes pop.

Risk analysis vs cost benefit ?

Thanks

Nick

[rob05]

Had the same issue not so long ago i ended up paying for the piece of mind.

[dick dastardly]

Have a look in my profile here to see the kind of costs involved when things do go wrong on a (slightly older) M Coupe.

[Philrose]

For an M its a must.

[steve1]

Have a look on www.Z3MCoupe.com you will find that this is about the best place to get first hand advice.
Mine actually runs out early next year and I will not be renewing, if you do your sums then you will be able to save the money and put that towards the cost of anything that is likely to go wrong, and you can get your service work done at a local garage that you trust rather than the main stealers that you are tied to under the warranty. Don't forget that you also have to pay an excess for every claim, the amount depends on the mileage of your car, and also certain things are excluded from the warranty after a certain mileage. Have a look on the above site for more info.

Steve.

[khushy]

I have had 3 Z3 ///M Roadtsers since 1997 - 1 x S50 and 2 x S54 . . altogether I have done over 150,000 miles in my 3 x Z3 ///M's! The S50 was a warranty nightmare - I reckon that BMW spent £25k + under warranty on that car!!!

For your S54 - I would say dont bother - put your money in a savings account as well as £1000+ for the Warranty there is a £250 excess as well!

If your car was an S50 - I would say that you would be stupid NOT to have a BMW Warranty - but seeing as its an S54 - you are pretty safe - especially with a new engine thats only £18k old.

I have just bought a 2002 S54 with 47k miles and I am ot going to bother.

Also DONT bother with a cheap aftermarket Warranty such as Warranty Direct - seems good value on the face of it but the claims process is a nightmare and they only replace parts if they FAIL - not if they are shagged - be careful about this fact.

The S54 is a well proven and reliable engine - everything else on your car is reliable and simple enough to sort IMHO!

Khushy

[Garrett]

The warranty for my E46 M3 is up in November, I'll be renewing with BMW for piece of mind, I've looked around at alternative products but want to keep things simple should anything serious go wrong.

[khushy]

E46 Warranty

Out of interest - what has the Warranty paid for over the last 12 months?

Khushy

[Setch993]

Hi

Thanks to all for the helpful feedback.

Pistonheads feedback helped me make the 'right' decision in the 1st place (ie S54 vs S50), an excellent resource.

I am going to trouser the £1050 and sleep at night !

Cheers

Nick

[Gibo993]

Just remember BMW charge £250 everytime you visit the dealership under warranty as an excess.

Rip off BMW

[Philrose]

The excess is not applicable until you renew on the new terms.

[mondeoman]

2002 M5, 80k miles, warranty renewal due 5th September

I am NOT renewing. I'd much rather pocket the £2k and accept the risk, especially when you actually look at what the "services" include and how much you pay for them (£200+ for an oil and filter change and a stamp in the book? :chortle: ) and the £250 warranty claim excess.

Byeeeeeeeeeeee

[mansfa]

I've got a S50 ZM Coupe without a warranty, and THB I cant see the point of a warranty. I ran an E36 M3 EVO coupe with a warranty and yes I did get some stuff done under warranty, the bills were horrid, but the warranrty paid them. In hindsight the bills were huge because:

1/BMW dont fix or recon items, they only replace.
2/BMW were charging over £100 + VAT in labour!

So a new starter motor 'warranty' bill would come out at something daft like £1000, whereas a independant would probably only charge you £400.

You need quite alot to go wrong over a 5 year term to recoup the £1050/£1860 a year they charge, plus the £250 excess per claim, you'd be daft to pay for a warranty on a 5 year old BMW, simply not worth it.