Third Party Warranty Worth it? (2013 BMW M5 84k miles)
Discussion
Hi Guys,
Would appreciate some advice. I'm the proud new owner of a 2013 BMW M5 which has full service history and been well looked after however for peace of mind I'm considering a third party warranty. It's an absolute mine-field trying to decipher all the clauses and my conclusion is all warranties will basically argue wear and tear for any failures, particularly with a vehicle of my age. Quotes for more comprehensive warranties are about 1000-1500 a year with Warranty wise for example.
I therefore get the feeling saving this money for repairs is probably better. For further context I'm fairly mechanically minded and do most maintenance myself/changing usual items like brakes etc. I also have some good contacts in the trade if the worst did happen.
What is everyone's thoughts on my situation and warranties of this type in general.
Many thanks in advance,
Ben
Would appreciate some advice. I'm the proud new owner of a 2013 BMW M5 which has full service history and been well looked after however for peace of mind I'm considering a third party warranty. It's an absolute mine-field trying to decipher all the clauses and my conclusion is all warranties will basically argue wear and tear for any failures, particularly with a vehicle of my age. Quotes for more comprehensive warranties are about 1000-1500 a year with Warranty wise for example.
I therefore get the feeling saving this money for repairs is probably better. For further context I'm fairly mechanically minded and do most maintenance myself/changing usual items like brakes etc. I also have some good contacts in the trade if the worst did happen.
What is everyone's thoughts on my situation and warranties of this type in general.
Many thanks in advance,
Ben
I wouldn't be buying that with 84k miles on without an absolute cash in iron, immovable warranty
It's right in the centre wallet hoover territory.
I've owned one and personally the day to day running costs, repair costs and general bedtime worry far outweigh the performance that can only really be found at really high speeds.
Trying to sell one privately is a task and a half too.
Buy one with an AUC or BMW meridian warranty or expect trouble trying to claim
ETA - Apologies for the dismissive post - didn't read properly and realise you'd already bought it. Hope you enjoy it, it just wasn't for me
It's right in the centre wallet hoover territory.
I've owned one and personally the day to day running costs, repair costs and general bedtime worry far outweigh the performance that can only really be found at really high speeds.
Trying to sell one privately is a task and a half too.
Buy one with an AUC or BMW meridian warranty or expect trouble trying to claim
ETA - Apologies for the dismissive post - didn't read properly and realise you'd already bought it. Hope you enjoy it, it just wasn't for me
Edited by anonymous-user on Monday 30th October 19:53
said:
It's a special car of course it's not going to be cheap to run I'm not expecting it to be.
BMW Insured Warranty quote is £4900/year haha!
Charles-2kzij said:
That's a very happy take on the situation. I already own the car. I'm prepared to keep some spare cash in case worst happens and know a good local Indy garage so I'm not too worried.
It's a special car of course it's not going to be cheap to run I'm not expecting it to be.
BMW Insured Warranty quote is £4900/year haha!
It's a special car of course it's not going to be cheap to run I'm not expecting it to be.
BMW Insured Warranty quote is £4900/year haha!
In which case just put some money aside & stick with your Indy
Charles-2kzij said:
That's a very happy take on the situation. I already own the car. I'm prepared to keep some spare cash in case worst happens and know a good local Indy garage so I'm not too worried.
It's a special car of course it's not going to be cheap to run I'm not expecting it to be.
BMW Insured Warranty quote is £4900/year haha!
If BMWs official warranty is quoting £4900 per year then it probably tells you all you need to know about a third party warranty quoting £1500 and how good its likely to be in a big claim. Not worth bothering with basicallyIt's a special car of course it's not going to be cheap to run I'm not expecting it to be.
BMW Insured Warranty quote is £4900/year haha!
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