Extended warranty pricing at £2800!

[nickfrog]

balfron100 said:

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.

I don't think he said the car reached its end of life. He rationally explained how insurance works and that it's based on claim experience. The underwriter prices the product to make a profit (or to avoid a loss). This is not a compulsory insurance product : if you can't afford it, don't buy it. No one is getting their arse ripped : if you can't afford it, don't buy it. That's how a free market economy, like ours, works. Might be different in North Korea though!

[tonymor]

You must have received a very advantaged quote .

[balfron100]

nickfrog said:

balfron100 said:

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.

I don't think he said the car reached its end of life. He rationally explained how insurance works and that it's based on claim experience. The underwriter prices the product to make a profit (or to avoid a loss). This is not a compulsory insurance product : if you can't afford it, don't buy it. No one is getting their arse ripped : if you can't afford it, don't buy it. That's how a free market economy, like ours, works. Might be different in North Korea though!

"The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their [i] "end of life" Try reading a little bit slower then you might grasp the point, then again maybe not!

[Fox-]

tonymor said:

You must have received a very advantaged quote .

Anyone can get a quote - http://www.bmw-warranty.co.uk

The pricing structure is the same for all Z4's, with a price difference between over and under 60k and also a discount for renewals. The quotes do not differ and are not negotiable.

Just checked, for a sub 60k mile comprehensive new policy without emergency service on a Z4:

£100 excess: £545
£250 excess: £409

Unless you don't make a single claim over the year, the £100 excess works out cheaper.

Edited by Fox- on Wednesday 2nd August 17:24

[nickfrog]

balfron100 said:

"The fact of the matter is, at @ 60K miles, some expensive parts are already fast approaching their [i] "end of life" Try reading a little bit slower then you might grasp the point, then again maybe not!

For your benefit:

balfron100 said:

a £60k car dose not reach "end of life" as you put it at 60k miles and 3 years old.

It would seem that “some expensive parts” has become “a £60k car”. Which, I will admit, I don't grasp, however slowly one reads it.