lee1224

I have a 2008 550i with only 11,000 miles, factory warranty will expire in about 4 weeks. Talked to BMW finance was told that extended warranty about $3500.00. Car still drives like new, no problems, car is in excellent condition. Would like to keep it for another year or so to wait for a used F10 M5. Would you buy extended warranty or put money away toward future purchase? What does the wise say? thanks

Mephistopheles

I would put the bank (assuming you have the cash) and put it toward the new vehicle...

rctmthouse

Wow only 11k miles, I guess they didn't have to do a lot of maintenance service under the factory warranty there. If you're planning to keep it for another year or two, just keep the the cash in your saving account for your next purchase. Worst case scenario, if something ges wrong within next year or two, I don't think the repair would be as much the cost of the extended warranty itself.

rbcook

Same boat here. My 2008 528i warranty expires in October 2011, or 50K. Well, I have 49,300 miles right now. I got a quote on the 6 year/100K Platinum BMW Extended warranty from BMW Dallas - $3,300. Of course that's only 2 extra years, and 50K in extra miles of coverage. Of course the maintenance upgrade is another $2300. I would definitely skip that. Seriously, I can't see the benefit in the maintenance extension. The BMW service people keep saying, "well, remember new brakes will run you $1K", to which I reply that I just got new brakes(pads and rotors) last summer.

FWIW - I got a quote for the same Platinum coverage from Moritz BMW in Arlington, TX for $3,900.

Gene

have you shopped around a 3rd party extended warranty? I know of a few discussions on here regarding a non bmw extended warranty coverage plans from various companies, might be a bit better priced and could hold you over until your next purchase.

Talk to your SA and see which 3rd part warranty companies he deals with and which ones seem to be the easiest to work with....that would be a good start..

ignicknoct

how much for your car?

pukka

Mine recommended Fidelity. My wife's MB is covered by them and the dealership I bring her car to spoke highly about them too. I've already filed a claim with them and it got approved and paid with no problems

lee1224

talked with Fidelity, they quoted about $3700. The rep even stated because the prices are almost the same, it would be better to go with factory if I was to purchase.

lee1224

I had the same talk with them as well. That brakes are expensive, 30k service are very expensive and I told them that this car will never see 30k miles or need new brakes in my ownership.

lee1224

I seriously thought about selling the car, but just couldn't do it. With only 11k miles and bascially taking almost a 50% hit from what i paid for, just didn't make sense. I really wanted to wait and check out the new M5 before making any other decision.

I see that you are from the Finger Lakes area, beautiful place, especially the summer time. I used to live in Rochester, well Pittsford NY. Would go down to the finger lakes in the summer time around Canandaigua Lake. I miss all the green and water, but not the high summer humidity.