E60 M5 warranty

[DocSteve]

Hi,

I have a 57 plate M5 but it has rather high mileage (now at 65k) and my BMW warranty is about to run out. BMW quote for full cover is just under £2k for the year or £1.5k for named component cover. I understand from research that it is this expensive because the car has covered over 60k and also that the BMW warranty (even comprehensive cover) will not cover certain items, namely any suspension components, once the car has done over that.

I realise that most people would say I'd be mad not to have a warranty but I do wonder that if I own this car for another three years as I intend to do whether the costs of this warranty will be recovered. I have a quote for £900 from Warranty Direct and have read mixed reviews about them with respect to M cars.

Any advice and/or experience with BMW and non-BMW warranties at this sort of mileage. If it was under a grand I think it would be a no-brainer but at this cost it has made me wonder.

Thanks
Steve

(cross-posted on the M5board)

[ecain63]

DocSteve said:

Hi,

I have a 57 plate M5 but it has rather high mileage (now at 65k) and my BMW warranty is about to run out. BMW quote for full cover is just under £2k for the year or £1.5k for named component cover. I understand from research that it is this expensive because the car has covered over 60k and also that the BMW warranty (even comprehensive cover) will not cover certain items, namely any suspension components, once the car has done over that.

I realise that most people would say I'd be mad not to have a warranty but I do wonder that if I own this car for another three years as I intend to do whether the costs of this warranty will be recovered. I have a quote for £900 from Warranty Direct and have read mixed reviews about them with respect to M cars.

Any advice and/or experience with BMW and non-BMW warranties at this sort of mileage. If it was under a grand I think it would be a no-brainer but at this cost it has made me wonder.

Thanks
Steve

(cross-posted on the M5board)

Have you checked out the BMW Warranty http://www.google.co.uk/url?sa=t&source=web&am... website to see how much it would cost to pay monthly? On these cars i'd never go for an aftermarket / 3rd party warranty. BMW all the way. I had a Warranty Direct poilicy on my RS6 and although they paid out for most things(although they would only pay to fix the broken part, not all the work that goes along with fixing it) they did try to squirm out of everything at every opportunity.

Your other option is to phone up the BMW Warranty company and ask if they can do you a deal to prevent you from going elsewhere.

Eddie

[Cemesis]

Has it been to BMW since 60,000 miles?

If not, you could try being really cheeky and taking out monthly cover saying its at 59,226 miles and from that point on, you'll only ever pay the lower price (it won't go up at 60k, nor will you loose coverage on some items that you do at 60k).

Of course, this won't be possible if its had a service recently...

Don't bother with warranty direct.

[sdc77]

Stay with BMW
It's recognised as the best and considering the cost of some components it's a must