Extended warranty pricing at £2800!
Discussion
More than a little shocked by this.... bought a new 750m 3 years ago. Figured it would be good for 3 years then I'd change over. Having borrowed a new 7 series for a few days I actually find it not as smooth as mine and missing some of features I have. Most important factor putting me off the car is the fact that someone designing it forgot to add a centre dash display and slapped an iPad on instead.... I just can't live that which is shame because I've been BMW's and high end ones, for many years now. Anyway rant about iPads over I called to get an extended warranty on it while I figure out what to do and they want £2817!!!! Seems crazy to me! I'm the only owner from new and I've done 62,000 miles. At that price it simply looks to me like they are so worried their product won't last much longer they put a crazy price on warranty! Anyone else had this sort of price quoted for extended warranty?!
M5MarkM said:
More than a little shocked by this.... bought a new 750m 3 years ago. Figured it would be good for 3 years then I'd change over. Having borrowed a new 7 series for a few days I actually find it not as smooth as mine and missing some of features I have. Most important factor putting me off the car is the fact that someone designing it forgot to add a centre dash display and slapped an iPad on instead.... I just can't live that which is shame because I've been BMW's and high end ones, for many years now. Anyway rant about iPads over I called to get an extended warranty on it while I figure out what to do and they want £2817!!!! Seems crazy to me! I'm the only owner from new and I've done 62,000 miles. At that price it simply looks to me like they are so worried their product won't last much longer they put a crazy price on warranty! Anyone else had this sort of price quoted for extended warranty?!
It is very unfortunate that you have gone just over 60k miles as that is the point at which the price jumps sharply. I expect it would have been 50-70% of the price with 2k fewer miles. I appreciate that this won't help now, but in future, once you get close to 60k miles, if you take a BMW warranty with a monthly payment, it just rises approximately with inflation, with no hike when you hit 60k miles.
For you current car, I suggest an alternative warranty provider who doesn't have this cliff edge at 60k.
It's not really a case that: "they're worried their product won't last much longer" - Their product should last a good 20 years plus if it's looked after and someone spends the money required to keep it in good condition,
The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their "end of life" period and will become prone to failures, which could cost a lot of money to sort out.
This increases the risk to the warranty provider, and so they raise the cost of the warranty coverage in order to help cover the costs, and it helps to put people off having a warranty on a car that could start to cost the warranty company money.
The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their "end of life" period and will become prone to failures, which could cost a lot of money to sort out.
This increases the risk to the warranty provider, and so they raise the cost of the warranty coverage in order to help cover the costs, and it helps to put people off having a warranty on a car that could start to cost the warranty company money.
4rephill said:
It's not really a case that: "they're worried their product won't last much longer" - Their product should last a good 20 years plus if it's looked after and someone spends the money required to keep it in good condition,
The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their "end of life" period and will become prone to failures, which could cost a lot of money to sort out.
This increases the risk to the warranty provider, and so they raise the cost of the warranty coverage in order to help cover the costs, and it helps to put people off having a warranty on a car that could start to cost the warranty company money.
Dear oh, that's total Crap your talking, a £60k car dose not reach "end of life" as you put it at 60k miles and 3 years old. Its just another example of corporations ripping the arse out of everyone and getting away with it.The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their "end of life" period and will become prone to failures, which could cost a lot of money to sort out.
This increases the risk to the warranty provider, and so they raise the cost of the warranty coverage in order to help cover the costs, and it helps to put people off having a warranty on a car that could start to cost the warranty company money.
4rephill said:
It's not really a case that: "they're worried their product won't last much longer" - Their product should last a good 20 years plus if it's looked after and someone spends the money required to keep it in good condition,
The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their "end of life" period and will become prone to failures, which could cost a lot of money to sort out.
This increases the risk to the warranty provider, and so they raise the cost of the warranty coverage in order to help cover the costs, and it helps to put people off having a warranty on a car that could start to cost the warranty company money.
What expensive parts are you thinking of that will be end of life at 60k?The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their "end of life" period and will become prone to failures, which could cost a lot of money to sort out.
This increases the risk to the warranty provider, and so they raise the cost of the warranty coverage in order to help cover the costs, and it helps to put people off having a warranty on a car that could start to cost the warranty company money.
rassi said:
What expensive parts are you thinking of that will be end of life at 60k?
Its a bmw 7 series. Engine gearbox and electrics.One borkage in one of those can easily cost double the asking price for the warranty and a lot of parts will be main dealer only with almost no hope of getting pattern or remanufactured parts. All part of owning the rarer expensive stuff.
Edited by OldGermanHeaps on Sunday 30th July 10:32
OldGermanHeaps said:
Its a bmw 7 series. Engine gearbox and electrics.
They price the warranties by series not by components - even though a 330d M Sport Auto, a 530d M Sport Auto and a 730d M Sport Auto all have exactly the same engines, gearboxes and electrics the warranty prices are radically different for each car. It's market based pricing, presumably they price the 7 Series much much higher than a 3 Series because people pay it.Which makes the warranty on a 435d xDrive Convertible an absolute bargain - much cheaper than a manual 520d.
Fox- said:
They price the warranties by series not by components - even though a 330d M Sport Auto, a 530d M Sport Auto and a 730d M Sport Auto all have exactly the same engines, gearboxes and electrics the warranty prices are radically different for each car. It's market based pricing, presumably they price the 7 Series much much higher than a 3 Series because people pay it.
Which makes the warranty on a 435d xDrive Convertible an absolute bargain - much cheaper than a manual 520d.
I agree the pricing isn't sensible, although I didn't object too much when paying £427 to extend the warranty (with a £100 excess) on my (£50k list) 335d a couple of months ago...Which makes the warranty on a 435d xDrive Convertible an absolute bargain - much cheaper than a manual 520d.
On average though a 7 series warranty will cost the warranty provider a lot more in claims than a 3 series will, and thats why its dearer. When the big barges go wrong they do it in style. There are a lot of unique uncommon and expensive systems in the 7 that are only seen in a handful of 5s and no 3s
An alternative provider may have so many exclusions as to be not worth it.
An alternative provider may have so many exclusions as to be not worth it.
Edited by OldGermanHeaps on Sunday 30th July 19:42
335d said:
I agree the pricing isn't sensible, although I didn't object too much when paying £427 to extend the warranty (with a £100 excess) on my (£50k list) 335d a couple of months ago...
Yet the same policy for my previous 530d last year was literally double that amount. Yet there is nothing more complex on the 530d - infact it has one less turbo and is only RWD rather than 4WD!Still, spare a thought for the owners of the Mini Cooper SD - almost a thousand quid a year, same sort of money as a 5 Series, when the reality is its probably less complicated than a 120d, which is about a third of the price. All because there is an 'S' on the back.
OldGermanHeaps said:
On average though a 7 series warranty will cost the warranty provider a lot more in claims than a 3 series will, and thats why its dearer. When the big barges go wrong they do it in style. There are a lot of unique uncommon and expensive systems in the 7 that are only seen in a handful of 5s and no 3s
Almost all F01's are 730d. The only uncommon system on a 730d that isn't also on a 530d or a 330d is the self levelling rear suspension on the LWB models - though this is present on the 5 Series touring anyway. The iDrive, instrument panel, engine, gearbox, central electronics system, etc etc.. are all shared.Fox- said:
Yet the same policy for my previous 530d last year was literally double that amount. Yet there is nothing more complex on the 530d - infact it has one less turbo and is only RWD rather than 4WD!
Still, spare a thought for the owners of the Mini Cooper SD - almost a thousand quid a year, same sort of money as a 5 Series, when the reality is its probably less complicated than a 120d, which is about a third of the price. All because there is an 'S' on the back.
That's very odd that a Cooper SD is treated that way because it's an S. We have a recent Mini Cooper D, and as far as I can tell there is very little difference between it and the SD, apart from the extra cylinder in the engine and a couple of cosmetic mods. They appear to me to share almost all parts. Still, spare a thought for the owners of the Mini Cooper SD - almost a thousand quid a year, same sort of money as a 5 Series, when the reality is its probably less complicated than a 120d, which is about a third of the price. All because there is an 'S' on the back.
You can sort of justify the warranty price difference between say an M3 and a 335d - there are many unique M parts in the M3, although most of it is probably BMW just charging what they can get away with (the M tax), but the premium for the Mini Cooper SD makes no sense.
The S model Mini's seem to have the M tax percentage applied. Which as you say makes little sense given how not particularly highly strung exotic sports car the SD is.
It's a shame, it's put us off an SD because we like to run with the warranty and I'd just feel annoyed every time I renewed. It's ridiculously priced.
It's a shame, it's put us off an SD because we like to run with the warranty and I'd just feel annoyed every time I renewed. It's ridiculously priced.
Fox- said:
The S model Mini's seem to have the M tax percentage applied. Which as you say makes little sense given how not particularly highly strung exotic sports car the SD is.
Is there anything down to the expected use of the car perhaps? It's not unreasonable to expect someone to make the most of the power of something like an M3, versus a 320d, so does the same apply for the SD? Is there some weighting on the price based on parts expected to fail sooner due to a harder life?I have been " invited " renew the warranty on my 2011 zed4 . It's £420 with a £250 excess. I had a " typical " roof sensor problem two months ago and strangely enough the cost of the repair was the same as my excess. Know I'm taking the line of banking the warranty cost plus excess in a " piggy bank" solely for the unexpected on the car incase of .
I'm on many forums and this is a shared opinion.
I'm on many forums and this is a shared opinion.
tonymor said:
I have been " invited " renew the warranty on my 2011 zed4 . It's £420 with a £250 excess. I had a " typical " roof sensor problem two months ago and strangely enough the cost of the repair was the same as my excess. Know I'm taking the line of banking the warranty cost plus excess in a " piggy bank" solely for the unexpected on the car incase of .
I'm on many forums and this is a shared opinion.
The Z4 warranty is very cheap so of all the cars to think 'its not worth the bother' on I'm not sure the Z4 is one of them. It benefits from 3 Series pricing despite having that complex folding hardtop roof. The mistake is the £250 excess IMHO.I'm on many forums and this is a shared opinion.
This May I took out a Mini warranty on my wife's Roadster Cooper S (auto) and it's costing me £57/mth with a £100 excess. 2014 car with 15k miles on the clock. Full Mini service history.
So I'm not sure why others are getting really high quotes for their Minis?
So I'm not sure why others are getting really high quotes for their Minis?
Fox- said:
The S model Mini's seem to have the M tax percentage applied. Which as you say makes little sense given how not particularly highly strung exotic sports car the SD is.
It's a shame, it's put us off an SD because we like to run with the warranty and I'd just feel annoyed every time I renewed. It's ridiculously priced.
It's a shame, it's put us off an SD because we like to run with the warranty and I'd just feel annoyed every time I renewed. It's ridiculously priced.
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