Your opinion matters - thoughts and suggestions please

I currently have Easy care warranty with the bumper to bumper coverage which saved me a lot of money.( water pump, head lights etc)

Car has 90k miles and want to keep it for 4 more years

Option 1- Either I get a $7k 48month/48kmiles warranty that is not bumper to bumper - listed parts only - everything else I pay for.

Option 2 - or should I wing it and see what breaks and payout of pocket

Option 3 - or trade it in and get a new/cpo car with payments.

I really like my car but ..its a conundrum

 

Can you customize one of your options? I would say option 2, but every paycheck or every month, put some money aside in your savings specifically for car maint. and any future issue that may arise. I can't see myself giving the $7k to the insurance company, almost half of what your car is worth..

 

^ +1.
If you are willing to pay $7K to the warranty company, I'd recommend you put that money in a separate bank account and use that money as and when the car needs repairs. If you don't incur any major repairs, you will keep that money [may be towards the next car].

 

Don't do it. the warranty doesn't really cover electrical and whatnot . +1 on PCY. The 525 doesnt have many issues. I owned the 04 525. biggest bill was Alt and Battery and the Alt was a co-pay and battery was full price not covered under extended. Find a good Indy shop and you'll save half right there!

GL

 

Yeah, I think you'd be getting hammered on a $7k insurance policy on this thing. For $7k, there has to be a lot that happens to your car to break even.................but what is the point of breaking even, when you want to come out ahead?

7,000 / 48 months = $145.83 per month (assuming you only drive 1k miles/month) Put that in a seperate account and I bet you have plenty left over.

 

Thank you for all of your great input

 

Damn that is a high price! Is the car paid off?

 

Option 2 or 3. I was in your boat...I chose Option 2. If maintained properly, the 525 is pretty bullet proof. I think the water pump is one of the main issues but you already took care of that.

 

I concur with other members' responses here and $7k seems to a bit high to justify when taking into consideration of the fair value of the car.

What about having a certified BMW technician perform a detailed inspection on the vehicle first in determining your options.

 

+1 Rob2388 said! Do option 2 or option 3