[afk8445]

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Hello Everyone,
I know this has been discussed couple of times, but have been searching and could not find the information.
I know some of you recommend Geico but this has to be within first year i think of purchase.
anyway, got quotes from Fidelity: 5 year/75 Kmiles for $7900
BMW quotes $9000 for same
also, my credit union is using a company called consumer program administrators is quoting $3800 for same period

comments:
1. credit union is probably too low, which i suspect is not a great deal, unless someone here had any experience with this company
2. fidelity and BMW are close, i am guessing might be able to match

Main questions:
1. worth it?
2. which company would you go with? and why?
3. any other recommendations? taking into account that very few companies would extend warranty on an M5

thanks for your time

[Dinan-M]

Just put $500-$1000 in an account monthly draw interest of it for a couple years and after 24 month you will have $24k or $12K to use if you need repairs to your car. By this time you will have sold or upgraded and still have the money in your account or use it for any repairs if needed. If you buy Aftermarket warranty, if you don't need it you lose the money when time runs out?

Originally Posted by afk8445

Hello Everyone,
I know this has been discussed couple of times, but have been searching and could not find the information.
I know some of you recommend Geico but this has to be within first year i think of purchase.
anyway, got quotes from Fidelity: 5 year/75 Kmiles for $7900
BMW quotes $9000 for same
also, my credit union is using a company called consumer program administrators is quoting $3800 for same period

comments:
1. credit union is probably too low, which i suspect is not a great deal, unless someone here had any experience with this company
2. fidelity and BMW are close, i am guessing might be able to match

Main questions:
1. worth it?
2. which company would you go with? and why?
3. any other recommendations? taking into account that very few companies would extend warranty on an M5

thanks for your time

[afk8445]

Originally Posted by Dinan-M

Just put $500-$1000 in an account monthly draw interest of it for a couple years and after 24 month you will have $24k or $12K to use if you need repairs to your car. By this time you will have sold or upgraded and still have the money in your account or use it for any repairs if needed. If you buy Aftermarket warranty, if you don't need it you lose the money when time runs out?

very much like this idea , thank you.

[Archimedes65]

The M5 was the first time that I ever purchased an extended warranty and only because I intend to keep the car long term. But I paid way less than what you did. I think mine was about $2k for 7 years, 75k miles. $9k is nucking futs. No way that I would pay that. I thought $2k was a little steep.

[Vic55]

Originally Posted by Archimedes65

The M5 was the first time that I ever purchased an extended warranty and only because I intend to keep the car long term. But I paid way less than what you did. I think mine was about $2k for 7 years, 75k miles. $9k is nucking futs. No way that I would pay that. I thought $2k was a little steep.

2k??? Thats well below cost for a standard BMWFS VSC --- you must have bought a "wrap" which covers the add on of the OEM 4/50k.

Edit- or that was a maintenance plan??

[Aronis]

I need more information.

How many miles currently on the car? Your tag shows 2018 M5. correct?

I have a 2018 also and the BMW website shows an upgraded warrantee for my car (2018) for up to 7 years or 100,000 miles (over the original 50,000/4 year) at the

1. Platinum level for $7850.00 with $50 deductible
2. Gold level for $7100 and
3. Powertrain only for $5000.

Obviously less if you just opt for 75000 miles coverage. If you are driving this thing daily, 100,000 makes more sense.

I have been planning on the powertrain only route at the end of my lease. Basically be adding 3 years of painless drivability for $5000. The other coverage would be just luxury.....

[DocWeatherington]

Originally Posted by afk8445

Hello Everyone,
I know this has been discussed couple of times, but have been searching and could not find the information.
I know some of you recommend Geico but this has to be within first year i think of purchase.
anyway, got quotes from Fidelity: 5 year/75 Kmiles for $7900
BMW quotes $9000 for same
also, my credit union is using a company called consumer program administrators is quoting $3800 for same period

comments:
1. credit union is probably too low, which i suspect is not a great deal, unless someone here had any experience with this company
2. fidelity and BMW are close, i am guessing might be able to match

Main questions:
1. worth it?
2. which company would you go with? and why?
3. any other recommendations? taking into account that very few companies would extend the warranty on an M5

thanks for your time

I agree with others... JUST SAVE THE MONEY and invest it.

If I were to do it, I would get mechanical breakdown insurance and read the fine print to see what is not covered and the costs associated.

But, I would also think from the perspective of the reliability of this platform. This is not a new motor, new transmission or anything exotic that BMW hasn't done before minus the AWD system but how often have there been reported issues or failures of X-drive. Also, think about the general service upkeep on what could break. Beyond general fluids, tires, sparks what should break? How long are you going to keep the car ?

In closing ....

The recent batch of M cars has been very reliable outside of driver induced issues such as tunes or running things over.

[Aronis]

If you plan on keeping a car like this 'long term' or say for 100,000 miles and are driving it (as it supposed to be driven, ie. daily) then you are not going to be happy with your interest growth on a $7000 investment when you have an engine issue or a transmission issue on this car. You can put $7000 in the bank on day one of your purchase and even with some crazy growth of 10%, that would be worth about $12000 at year five. The cost of a major engine repair would be FAR greater than that. If you goal is some kind of financial wizardry then drive a Civic and bank the rest of the $100,000.

I drove a 2003 RS6 ($85000 car in 2003) for 14 years and you can bet your ass I was happy I had the extended warrantee. Once i was out of warrantee (at 110,000) I did make the mistake of trying to fix an oil leak on my dime and that cost me $15,000 which was at about 140,000 miles. Ended selling the car a year later as it became a money pit. I had 146,000 miles on it at that point and it was my daily drive for most of that time. But I did drive it for 140,000 without having to pay for any crazy repairs. My cost of extended warrantees was $4400 for first and $2200 for second and had coverage until about 110,000 miles. It covered an engine pull for a new torque converter and other things like alternators, intercooler leaks, a water leak that took out my transmission control module, etc, so I made out quite well on my $6600 warrantee investment. The torque converter replacement alone eat all of that amount and then some.

The routine maintenance was not cheep, timing belts etc, but I did most DIY things like replacing the suspension and rotors etc myself for the cost of parts. Keeping these cars on the road is NOT CHEAP, so trying to get off cheap by not investing in a good warrantee is risky.

So my advice...."Keeping it Long Term" means for 100,000 miles or so, perhaps 120,000, and you want it to be useful, ie drivable, than don't risk it without a warrantee.

Or just get a new car every three years or so and screw the extended warrantee.

A car is not an investment for 99% of people, its a luxury item for some and a necessity for most, and those who love cars and can afford them get the fancy ones. Those who use cars for simply transportation from A to B, etc, are either not car lovers or pretend not to be car lovers to justify what they are driving, when that's usually dictated by their personal financial status.

If you happened to be very mechanically inclined and have the equipment to DIY for a major repair, then sure, you can bank $7000 for "Parts" and probably cover those part needs as long as you can provide the labor. At that point its an expensive and fun hobby, not a transportation device.

Mike

[TwinWhistles]

Originally Posted by Aronis

Or just get a new car every three years or so and screw the extended warranty.

I agree with this but lease instead of buy. I switch vehicles about every 3 year but my M5 is my first lease. My plan is to lease instead of buying for the foreseeable future.

[afk8445]

Originally Posted by Aronis

I need more information.

How many miles currently on the car? Your tag shows 2018 M5. correct?

I have a 2018 also and the BMW website shows an upgraded warrantee for my car (2018) for up to 7 years or 100,000 miles (over the original 50,000/4 year) at the

1. Platinum level for $7850.00 with $50 deductible
2. Gold level for $7100 and
3. Powertrain only for $5000.

Obviously less if you just opt for 75000 miles coverage. If you are driving this thing daily, 100,000 makes more sense.

I have been planning on the powertrain only route at the end of my lease. Basically be adding 3 years of painless drivability for $5000. The other coverage would be just luxury.....

Aronis, many thanks for the replies.
car has 18K miles on it, yes 2018.
which BMW website gives you these prices please?
I love the car and plan to keep it for as long as possible...so yes, 100,000 miles would be great.

[Aronis]

https://www.bmwusa.com


then hit this link , top right hand corner.

You have to set up an account, same account that you would use for the BMW apps.....

Mike

[SpeedyDad]

And next time you buy a car you plan to keep for more than 3 years, get mechanical breakdown insurance from Geico or other carriers that offer it. Bumper to bumper warranty through year 7 for $300/year for a $115k car.

[afk8445]

Originally Posted by Aronis

https://www.bmwusa.com


then hit this link , top right hand corner.

You have to set up an account, same account that you would use for the BMW apps.....

Mike

thanks for this....
is this what you are talking about? I think this is maintenance and not warranty, unless there is a link that i am not seeing

[Aronis]

Extended Service Contracts.

IE> Warrantee....


Mike

[MDJAK]

Originally Posted by SpeedyDad

And next time you buy a car you plan to keep for more than 3 years, get mechanical breakdown insurance from Geico or other carriers that offer it. Bumper to bumper warranty through year 7 for $300/year for a $115k car.

I’ve had Geico MBI for at least 2 decades and in the past used it many times. It’s incredible coverage for very cheap cost.

But it’s not just 7 years, it’s 100k miles or 7 years, whichever comes first.

[afk8445]

Originally Posted by Aronis

Extended Service Contracts.

IE> Warrantee....


Mike

Thank you very much for this, I never looked there.
appreciate the guided pics.
thanks again

[HarryNal]

Originally Posted by afk8445

Hello Everyone,
I know this has been discussed couple of times, but have been searching and could not find the information.
I know some of you recommend Geico but this has to be within first year i think of purchase.
anyway, got quotes from Fidelity: 5 year/75 Kmiles for $7900
BMW quotes $9000 for same
also, my credit union is using a company called consumer program administrators is quoting $3800 for same period

comments:
1. credit union is probably too low, which i suspect is not a great deal, unless someone here had any experience with this company
2. fidelity and BMW are close, i am guessing might be able to match

Main questions:
1. worth it?
2. which company would you go with? and why?
3. any other recommendations? taking into account that very few companies would extend warranty on an M5

thanks for your time

Few years back on my 2012 X5M I got a extended warranty with an aftermarket company. Something with the vanos on the cams. truck went into malfunction once they replaced both sides of the Vanos They noticed that the timing chain was loose they call the warranty company back it's required the entire engine transmission and front end to be dropped once it got approved and they dropped it then they noticed because the timing chain was loose it was grinding on the gear on the crankshaft and also when they remove the heads they noticed the valve stem seals were leaking (this is why I was burning oil) the company paid out $17,500.00 The only thing that sucked is because it was an aftermarket company they had to keep coming back-and-forth a few times to take pictures and to get everything approved by the time I get the car back it was 7 weeks

[afk8445]

Originally Posted by HarryNal

Few years back on my 2012 X5M I got a extended warranty with an aftermarket company. Something with the vanos on the cams. truck went into malfunction once they replaced both sides of the Vanos They noticed that the timing chain was loose they call the warranty company back it's required the entire engine transmission and front end to be dropped once it got approved and they dropped it then they noticed because the timing chain was loose it was grinding on the gear on the crankshaft and also when they remove the heads they noticed the valve stem seals were leaking (this is why I was burning oil) the company paid out $17,500.00 The only thing that sucked is because it was an aftermarket company they had to keep coming back-and-forth a few times to take pictures and to get everything approved by the time I get the car back it was 7 weeks

which company was that? this is not a bad outcome, a little annoying but very good outcome indeed

[HarryNal]

Originally Posted by afk8445

which company was that? this is not a bad outcome, a little annoying but very good outcome indeed

That was the last claim there was a few more before that I think all in all with all my claims had to be in the range of 35K

Basically the car i beat the shit out of it and bought the phrase drive it like you stole it to a new level

Oh and I think my X5M was prolly the last one they would warranty I really screwed them lmao

Endurance warranty's which they say is one of the best ones would not even warrantee my car but they would warranty a F10 M5