Running E46 without warranty
Discussion
Just looking for some info and opinions on running an M3 without warranty. I've had my E46 for four years (it's 2005, 40,000 miles) never had any issues with it, it's in superb condition and wants for nothing. However I'm now sorely tempted to chop the warranty on it which I've been running for almost 4 years with Warranty Direct. I'm paying roughly £750 per year for the warranty, so basically what I'm saying is (excuse the waffle) is it worth the risk of stopping the warranty and hoping nothing big comes up, or keep it for peace of mind? Thanks in advance.
EDIT - oh, almost forgot, my annual mileage is approximately 3,500 miles.
EDIT - oh, almost forgot, my annual mileage is approximately 3,500 miles.
Edited by mcelliott on Monday 1st September 22:29
Only you can really know if it's worth it, but if you are going to get a warranty, get the BMW (mondial) one.
My CSL is still under bmw extended warranty ( £87 per month fully comp zero excess & full breakdown cover) & while the car has been super reliable, it's had a diff, both driveshafts, propshaft, 2 sets of rear springs, rear light, rear diffuser, inlet manifold, clutch, control arms, various gearbox & engine sensors etc.
It was into the dealers this morning for a grinding noise coming from the diff, less than an hour later the diff fluid had been changed to new stuff with friction modifier & I was off. All under warranty.
For me, it's a no brainer.
My CSL is still under bmw extended warranty ( £87 per month fully comp zero excess & full breakdown cover) & while the car has been super reliable, it's had a diff, both driveshafts, propshaft, 2 sets of rear springs, rear light, rear diffuser, inlet manifold, clutch, control arms, various gearbox & engine sensors etc.
It was into the dealers this morning for a grinding noise coming from the diff, less than an hour later the diff fluid had been changed to new stuff with friction modifier & I was off. All under warranty.
For me, it's a no brainer.
God that's cheap at 87 a month ive been quoted 2400 for the year with no excess with bmw mondial.About the only reasonable option with them is the drive line warranty with a excess of 250 and 89 quid a month.Just trying to make up my mind if its worth having it.Got to decide soon the renewals due very soon.The cars a e46 m3 on 76000 miles.
little328ci said:
God that's cheap at 87 a month ive been quoted 2400 for the year with no excess with bmw mondial.About the only reasonable option with them is the drive line warranty with a excess of 250 and 89 quid a month.Just trying to make up my mind if its worth having it.Got to decide soon the renewals due very soon.The cars a e46 m3 on 76000 miles.
If you go monthly before the car hits 60k, there is no post 60k price increase or reduction in cover. little328ci said:
God that's cheap at 87 a month ive been quoted 2400 for the year with no excess with bmw mondial.About the only reasonable option with them is the drive line warranty with a excess of 250 and 89 quid a month.Just trying to make up my mind if its worth having it.Got to decide soon the renewals due very soon.The cars a e46 m3 on 76000 miles.
Why bother? There are loads of these in scrap yards so parts available cheap, just not worth it anymore.
New gearbox may be £8000 at BMW, but you can buy one for £500 from eBay and pay a local indy 4 hours to fit it.
Right ok, thanks for the replies, pretty much as I expected - they all make sense! So I'm still basically stuck in a dilemma. Tempted to chop the warranty, but at the back of my mind, the car is getting older so things may start to go wrong. Will give it some serious thought over the coming weeks, and once again, thanks.
Rick101 said:
Wow, £3000 on warranty for 14000 miles.
I wouldn't bother. As long as you car has been well looked after and serviced properly it shouldn't need much.
Very reliable cars.
I agree with this. What is the E46 worth? £10k max? I wouldn't bother. As long as you car has been well looked after and serviced properly it shouldn't need much.
Very reliable cars.
£3k in your bank would've been a very healthy rainy day fund for the car instead of paying for a warranty.
vescaegg said:
I agree with this. What is the E46 worth? £10k max?
£3k in your bank would've been a very healthy rainy day fund for the car instead of paying for a warranty.
You can buy a complete, well running, M3 for £5k now, might be a bit tatty body and interior wise, but running well, so spending £3k on warranty is madness imho. £3k in your bank would've been a very healthy rainy day fund for the car instead of paying for a warranty.
If it was a BMW warranty like posted above then maybe, but £3k for "cover" that would likely exclude most items you'd want it for under the usual "wear and tear" get out clause common on 3rd party warranty companies is madness 
As mentioned, cancel the cover and continue to put the payments I to a savings account, that way you're covered for any required work to be done.
As mentioned, cancel the cover and continue to put the payments I to a savings account, that way you're covered for any required work to be done.
gizlaroc said:
Warranty Direct is a good cover, I had my M3 on that when it ran out and they cover everything, including wear and tear.
They replaced control arms, springs, dampers etc.
I'll bear WD in mind in future although I'll unlikely ever take out an optional warranty again. They replaced control arms, springs, dampers etc.
I've had just one 3rd party warranty over the years and not a single repair was covered. I specifically checked the components it covered before taking it, what I didn't realise was despite components being listed; they would only be covered if total failure. So my ball joints that needed replacing weren't covered despite being a listed component because they hadn't "failed" and were just "worn". Total con IMO.
Just my half penny's worth, but my old warrior ( a Dec 2003 ) is now almost on 170 K, it uses no oil, still pulls like an express train and on sat night wiped the smile from from the faces of the 2 bods in their modified Integra Type R, a very quick / modified ( Mi 16 ? Turbo ?? 205 GTI and a 4 door Sierra Cossie.
The M3 is capable of racking up huge mileage if looked after...
The M3 is capable of racking up huge mileage if looked after...
Used car warranty is in short, similar to health insurance, the higher the age/mileage the greater the risk, the higher the premiums
I would absolutely definitely NOT be paying warranty direct for their warranty on a car like that, and in your case I would self insure by saving any amount I could afford into the car fund, not taking servicing costs out of it. After a claim (from yourself) free year, you can roll it over or use it for non warranty (your own exclusions list) items and keep the car nicer without being told you're wasting money
Some, in fact quite a lot of those companies only authorise 30ph or similar, which is daft if you're expecting a quality warranty repair imo.
Your decision obviously, but me, never.
I would absolutely definitely NOT be paying warranty direct for their warranty on a car like that, and in your case I would self insure by saving any amount I could afford into the car fund, not taking servicing costs out of it. After a claim (from yourself) free year, you can roll it over or use it for non warranty (your own exclusions list) items and keep the car nicer without being told you're wasting money
Some, in fact quite a lot of those companies only authorise 30ph or similar, which is daft if you're expecting a quality warranty repair imo.
Your decision obviously, but me, never.
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