View Poll Results: What should I do?
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Need Ur Advice - My CPO Expires Monday on 2006 550i
Thread Starter
Senior Members
Joined: Jun 2008
Posts: 1,285
Likes: 0
From: Queens/Long Island NY
My Ride: 2006 550i Black Saphire/Black Dakota Leather- Loaded- M5 Appearance Package, Sport Package, Pro logic 7 Premium Sound, Navigation, Cold Weather Package, Comfort Package, Heads-up Display, park Distance Control, Bluetooth, Active Steering, Electric Rear Sunshade, Rear Folding Seats, Front/Rear Heated Seats, Xenon lights, Satelite Radio- Extended Maintenance, CPO (Considering Tire/Wheel Insurance)
Guys, this is truly my favorite car owned since my 1993 RX-7 Twin Turbo beast! I see no value in getting the F10 just yet, nor do I want to sink another $60k into a depreciating asset at this point in life (family comes first now).
How concerned should I be with repairs for my 550i with 70k miles??
How concerned should I be with repairs for my 550i with 70k miles??
Contributors
Joined: Jul 2008
Posts: 4,410
Likes: 0
From: Chicago
Aftermarket warranty is a huge rip off if you're the type of person that already takes care of the car and does preventative maintenance on it. If anything, set aside $1000 per year in an account just for 'car repair'. If you don't need it, you just made 1k per year. If you do need it, you just paid your insurance premium through your own savings account. It is very unlikely that you will encounter repairs that are ridiculous in price if you're good with the car. Also, make sure you educate yourself on your engine and what could go wrong and how to fix minor things yourself. Avoid going to the dealership (stealership as I call it) if at all possible.
Example of oil changes and how cheap I am:
1) I go to the dealer and buy 8 qts of BMW 5W-30 and oil filter with BMWCCA discount. Comes to like $58 bucks.
2) I take that oil and filter to Midas and tell them to drain and fill. They charge me $9.95.
Oil change total: $67.95
Dealeship cost for an oil change? Nearly $180...
Example of oil changes and how cheap I am:
1) I go to the dealer and buy 8 qts of BMW 5W-30 and oil filter with BMWCCA discount. Comes to like $58 bucks.
2) I take that oil and filter to Midas and tell them to drain and fill. They charge me $9.95.
Oil change total: $67.95
Dealeship cost for an oil change? Nearly $180...
Contributors
Joined: Sep 2007
Posts: 7,053
Likes: 0
From: Jersey
My Ride: 2004 530i
Model Year: 2004
......
Example of oil changes and how cheap I am:
1) I go to the dealer and buy 8 qts of BMW 5W-30 and oil filter with BMWCCA discount. Comes to like $58 bucks.
2) I take that oil and filter to Midas and tell them to drain and fill. They charge me $9.95.
Oil change total: $67.95
Dealeship cost for an oil change? Nearly $180...
Example of oil changes and how cheap I am:
1) I go to the dealer and buy 8 qts of BMW 5W-30 and oil filter with BMWCCA discount. Comes to like $58 bucks.
2) I take that oil and filter to Midas and tell them to drain and fill. They charge me $9.95.
Oil change total: $67.95
Dealeship cost for an oil change? Nearly $180...
Contributors
Joined: Nov 2008
Posts: 2,134
Likes: 0
From: Queens NY
My Ride: 2008 550i manual
Model Year: 2008
Engine: V8
I agree with everyone gregg Keep the car and take care of it, if you have been doing what needs to to done the car should treat you right, I have 90k on my 550 and still running strong 
Contributors
Joined: Oct 2007
Posts: 11,084
Likes: 0
From: Thousand Oaks, California
My Ride: 2008 550i Jet Black on Black Leather, SAT with Paddles, Logic 7, Comfort Seats, NAV, Sport Package, PDC, Xenons, Sirius, Trinity 12W LED Angel Eyes, RPi GT Exhaust, M rear spoiler, ACS Roof Spoiler, Tinted Tail Lights, Bimmian Carbon Fiber Pillar Trim, Bimmian Shadow 550i emblem, RPi Scoop, E60 Forum Cling, Mtec bulbs in fog lights, Mtec 2W LED for License Plate Light Bulbs, K&N Filter, Bimmian LED Smoked Side Markers, Blackout roundels, Carbon Fiber Kidney Grills.
Retired Rides - 1989 325i convertible, 1995 M3, 2002 X5, 2005 545i, 2008 X5 (Lemon)
Should you decide you would like to look into an aftermarket warranty anyway, I have a buddy at Mercury Insurance, PM me if interested. 
Members
Joined: Jun 2011
Posts: 55
Likes: 0
From: Bolingbrook, IL
My Ride: 2007 550i Sport, 6 Speed Auto, Black Sapphire Metallic, Black Leather Interior, Anthracite Wood Trim, HUD, PCD, Navi, Logic 7, Fold Down Rear Seat, Sunshades, Rear DVD Headrests
I have an 07 550i and I love mine. I would keep your 06 for sure.