flint

Just wanted to give a quick update. We have a great independent shop here in Cincinnati call Enthusiast Auto Group. They specialize in servicing late model BMW's. The guys there performed a through inspection of my car to see if they could find ANY issues that I could handle under the few remaining weeks of my CPO warranty. They couldn't find anything. They complemented my car so much saying how clean it was and the overall condition was amazing. The could find no evidence of any type of leak (coolant or oil). Worst thing they found was my rear brakes are at about 20% left. The mechanic said I had one of the cleanest, driest engines he had seen in awhile. So I was very happy about all this until I shared with him my feelings about keeping or selling the car. He didn't even hesitate. Said sell it without a doubt. He went on to say how he sees problems over and over with the late BMW V8's. He said the 550's are only very slightly better than the 545's but in his opinion only because they are not as old. He says as the warranties expire he is seeing more and more of them. They knew all about the dreaded o-ring failure that causes the coolant leak from hell and said he has seen a few E60's with it but it is more common on the 7 series. He said plan on some big expenses if I keep it because they will happen. I asked him which models he recommended and he said any BMW V8 is infamous for serious issues, great car but do not own it outside of warranty. He said the twin turbo 335/535 also have a fair amount of issue. 528/530 in his words were "a totally different ownership experience" bulletproof motor that has very little issues or expense outside of regular maintenance.

So just to check I called my SA today to ask about after market warranty. He said the one they sell there is pretty good. Almost always covers 100% of the repair after a $50 or $100 deductible. In very rare cases there is a difference in the labor hours the warranty will allow where I might have to pay a difference. Anyways I can cover my car for an additional 3 years/36,000 miles for about $3500. This is mechanical failure only, no wear items like brakes, etc. I am at 64,000 miles now, my front brakes are almost new, rears at 20% and a brand new clutch. What should I do!!

turboawd

3500 is a lot of money for 36k miles, and only covers main components.

did he say what kind of failures he see besides an o-ring going bad?

nomis_nehc

I don't know what would be reasonable, but I would definitely try to talk down that $3500.

YeeeHaa

Where is the loyalty gone? You dont have a piece of paper to say someone else will pay the bill for a repair, so what do you do, sell it? NO WAY!!! I have bought 2 e60's both times a private sale and saved loads of cash by doing so compared to a dealer.

Privately I purchased a M Sport 2006 e60 535d last year that was bought new with ?17,000 worth of extras for ?20,000. From a dealer I would have paid at least ?10,000 more. I paid a mechanic to view and drive the car before I purchased.

Why do people insist on making dealers ?10,000 richer for a dam warrantee

skeeter

IMHO I would sell the car....The price of these cars are going down really fast....As soon as the f10 comes out, the prices will drop even more! The price to maintain it is high also....When I sold mine, I felt that I made a great decision...There are a lot of great cars right now going for great prices!

neoe60

+1

Yea F10 is more dull than a polished turd. My CPO is up next Jan and I'm keeping mine as well. My payments are 750/mo and it ain't gonna cost that much to repair it.

neoe60

How much is a CPO 550 gonna run? CPO means it's only 2-3yrs old. Say, it's 3yrs old...that's gonna run at least $40k. I'm just sayin.

AKAlius

Keep it and get an extended warranty.

CVTBenhogan

Not good to hear about issues with the V8. Too bad this is the case.

That said, $3.5K is not a huge cost and, as I said in my earlier post, keeping the 545 is the best decision cost wise. Appears your headed in this direction. The question is whether you'll sleep that much better with the extended warranty or feel good taking the risk to save the $$.

Since the 545 appears less reliable and some feel the o ring situation is time dependent, the warranty might not be a bad choise. Not sure you can do much better than $3.5K given the mileage. The warranty might be good option as more clarity on the V8 reliability will only be known over time. The warranty will make changing your mind on the car (selling it) easier as well. Unfortunately, there is seldom a right answer and only choices. With the miles on the 545 and its age, I'd likely opt for the EW.

The car will likely be worth $15K in three years. If you like the car, this isn't an expensive. The issue will be whether a 545 worth 15K is a huge risk three years from now. Not a worry now. I'd likley be getting out at that point.

So the get the warranty and your annual costs will be $4K per year for three years. $300 per month aint bad for the beast.

sdg1871

Buying a newer, CPO car is not cheap. But neither is a major repair for a BMW that is not under warranty.