M5 Warranty costs
Discussion
I've been looking at buying another M5, a touring this time around having owned a saloon for four years until some tit wrote it off last year.
Decent examples seem very thin on the ground at the moment especially under 60k miles so I'd come around to buying a well cared for 60/70k miler... until I got a quote from BMW for the warranty, for the full fat option, they now charge over £4000 per year?! When did the prices jump up so much? For cars with less than 60k the price for the same warranty drops down to £1675, which is almost double what I used to pay on my old sub 60k car.
Decent examples seem very thin on the ground at the moment especially under 60k miles so I'd come around to buying a well cared for 60/70k miler... until I got a quote from BMW for the warranty, for the full fat option, they now charge over £4000 per year?! When did the prices jump up so much? For cars with less than 60k the price for the same warranty drops down to £1675, which is almost double what I used to pay on my old sub 60k car.
I assume you're looking at the E60 M5, if so the costs will reflect the likely cost of fixing problems, it's only insurance after all and they make money on it.
With the E60 M5 there are a number of things that are quite prone to failure that cost an arm and a leg to fix, so the cost of a warranty will be higher.
With the E60 M5 there are a number of things that are quite prone to failure that cost an arm and a leg to fix, so the cost of a warranty will be higher.
Thanks, I'm well versed with the E60 M5's problems having owned one for four years, I had plenty done to it under warranty, hence why I'd only consider buying another with a warranty in place.
What's really annoying me now is that I almost bought an M5 touring from Elms Bedford a few weeks back, it had 67k on the clock and I got a deal on the table at 22.5k with a two year AUC warranty, in retrospect I should have bitten their hands off but the missus was nagging to get an X5 instead.
What's really annoying me now is that I almost bought an M5 touring from Elms Bedford a few weeks back, it had 67k on the clock and I got a deal on the table at 22.5k with a two year AUC warranty, in retrospect I should have bitten their hands off but the missus was nagging to get an X5 instead.
RichardM5 said:
I assume you're looking at the E60 M5, if so the costs will reflect the likely cost of fixing problems, it's only insurance after all and they make money on it.
With the E60 M5 there are a number of things that are quite prone to failure that cost an arm and a leg to fix, so the cost of a warranty will be higher.
With the E60 M5 there are a number of things that are quite prone to failure that cost an arm and a leg to fix, so the cost of a warranty will be higher.
Having looked into the same myself I can only assume that the amount of claims over the past year or so has resulted in the premiums jumping up massively.
All those having new clutches done etc means the money has to come from somewhere. in this instance, new policies, just the same as any other type of insurance.
All those having new clutches done etc means the money has to come from somewhere. in this instance, new policies, just the same as any other type of insurance.
I renewed the Mondial warranty on my sub-60k (only just!) 2005 E60 M5 in August last year.
It was around £600 for comprehensive with £250 excess.
The reason it was so cheap: I think it's because it has had a Mondial warranty continuously since the manufacturer warranty ran out.
I think that's the reason for the difference in prices. A new Mondial warranty on a car which has been out of manyfacturer warranty for several years will always be more expensive.
It was around £600 for comprehensive with £250 excess.
The reason it was so cheap: I think it's because it has had a Mondial warranty continuously since the manufacturer warranty ran out.
I think that's the reason for the difference in prices. A new Mondial warranty on a car which has been out of manyfacturer warranty for several years will always be more expensive.
Edited by BlackPorker on Monday 31st March 14:24
These prices also apply to the e92 M3, which I've always thought as being pretty bomb proof, compared to an E60 at least.
When I was negotiating on the M5 from Elms, the extra years warranty worked out at just over £1k to the dealer, so definitely something worth pushing for if buying a car on the wrong side of 60k from a main dealer, even if you have to pay for it yourself.
When I was negotiating on the M5 from Elms, the extra years warranty worked out at just over £1k to the dealer, so definitely something worth pushing for if buying a car on the wrong side of 60k from a main dealer, even if you have to pay for it yourself.
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