skylolow

If you needed to budget 1K a month to maintain/repair issues none of us would own a BMW and they would rank in the neighborhood of the worse car to own. Heck at that point we should get a Ferrari if we don't mind dropping 6K to 12K a year on maintenance/repairs.

mhs525

+1

Nobody spends $12k a year in repairs and maintenace... my wild ass guess would be $2k-3K year which is high becaue of the SMG trans

You have a year to gauge how well the car runs, my "new car" warranty is about to run out, CPO will kick in, and my car runs perfectly. It drives, rides, corners, and accelerates etc great. And everything works...

If the car gives you a lot of trouble, dump it after year. If it serves you well, put a few grand aside just in case and enjoy... These are really nice cars.

jrbmwenthusiast

Please pardon my verbose post. Force of habit.

Search the internet and this site for threads on extended warranties. For a few thousand dollars, you may find a good reliable company that will cover repairs for up to 6 or 7 years with a comprehensive policy that covers all repairs, excluding scheduled maintenance and repairs specifically disallowed in the written policy.

Reading a sample of the actual wording of the contract before you sign is a must? the devil is in the details.

Ask your trusted dealer or independent mechanic for the names of a few companies they like to work with because your mechanic or dealer may be the person on the telephone with the company advocating approval of your claim. Sometimes companies will honor a dealer?s request to cover a claim because they trust the dealer or want that dealer to continue writing contracts for them.

Although a dealer offers you a policy from a company for $3,000.00, you can get the same policy directly from the company over the telephone and save $500.00.

Make sure the company is backed by an insurance company that will cover policies if the company goes into financial distress. State regulating agencies may help you determine which companies have adequate financial support. (Better Business Bureau, A.M. Best?, etc. )

Since car sales are down and times are bad, some companies will allow you to pay for your policy with 12 monthly payments at 0% interest. This makes expensive polices more affordable to those on a budget. And if you have legitimate problems, you may be able to justify cancelling the payment plan with credit card protection policy support.

You can save hundreds my adding a deductible, but I?ve found that your savings evaporate after a few claims.

Consider the company extended warranty policy as a vehicle service contract. The company will only fix what they agreed to cover in writing. In most cases it covers the really expensive things like engines and transmissions. But depending on the wording of the contract, I-drive may not be covered. Some people prefer exclusionary contracts that specify exactly the items not covered. But the terminology used by the industry is as shifty as a snake oil salesman, so carefully read the contract. Don?t rely on verbal representations.

Presently, I have a 7 year vehicle service contract purchased 7 months ago for $2,495.00 with no deductible and 0 % interest payments of $187.13 per month/12 months deducted from a no interest credit card. So far, no problems. If I never file a claim, I will still consider myself as one of the lucky ones because the service contract would have done it?s job ? risk protection. With our cars you can predict a $1.5 K brake job, not a 15K+ engine replacement.

Good Luck!!!

Will Greer

What data are you using to substantiate these claims?

-Mike-

This is the most rediculous thing I have ever read. Bad advice. A lease of $1k/ month over three years would cost $36,000. $24k for two. You really think a BMW of any model costs that much to maintain? This doesn't deserve any more thought. :thumbsdown:

OP: Ask to review the CPO checklist with the service manager and your sales guy. The price is right. Make sure you check the carfax and other important info. If the sales guy came down easily, just make sure they are not tryng to unload it. Good luck to you!

E60714

Well, it is a V8 in a time when people are trying to save gas money, so it's possible they're trying to get rid of it because of that. Just saying, it might not always be a bad thing.