Continue warranty or not?

[struan80]

Hello,

I have just bought my first e46 smg m3 and am chuffed to bits as I have been dreaming of an m3 since I was a lad! Jees what a car....just a pity there are other cars, people etc on the road so cannot use it as it is intended even though I live in rural Aberdeenshire.

The car is 2002 56k and has full main dealer service history, the previous owner has has the car under BMW warranty always. This current BMW warranty runs out next month. So the question is:

1. Should I continue the BMW warranty at a cost of £1050 per year?
2. Should I obtain a cheaper third party warranty for example warranty direct
3. should I save my cash and hope for the best???

The car cost £16500 which after looking for one for a good few weeks seems a good price as the car is immaculate (this surprised me when I went to view it). I was expecting to pay in excess of 20k for a decent one. I guess it is cheaper because it does not have sat nav (who cares)or 19" wheels.

I would much appreciate your views on this matter as I could imagine the smg box and wonderfull engine not being cheap to repair.

Thanks,

Struan

[m3evo2]

If you can afford the BMW warranty then I would stick with it. I appreciate it's expensive and you have to pay a certain amount towards each claim but it does offer piece of mind. I dont have any experience with third party warranties so can not offer any advice regarding these. I renew the warranty and for years you can go without not needing to claim but once I had to have a gearbox fixed. It would have cost in the region of £600 but was covered.

[markda]

My warranty is just about to expire too, not going to continue with it. I don't do that many miles and £1050 + £250 excess is a bit of a p*ss take in my opinion. If it was more like the £600 or so they charge for the non M cars, then maybe.

[pottman]

S'funny was going to ask same question because my warranty expires soon as well. £1050 is a lot and it won't cover many of the things I guess I'm going to have to fork out for soon such as new tyres and other "wear and tear" items.

You could always try the AA warranty policy .. only problem is they will only cover one car per household and my TVR is on that.

Ho hum

[Belleair302]

Keep the warranty current, it will help if you want to sell the car and with SMG can save you money if something fails. Do however check the smallprint!

[deutscher]

Sounds like you got a helluva good deal! I reckon you paid at least £1k less than it's worth!

I had the original warranty for the first three years, renewed it for the fourth when it was only £500, but let it lapse for the fifth. Just entering year six (had the car since new in 2002). At the last service the rear springs were replaced under goodwill - didn't cost me a penny!

[Darlo74]

pottman said:

You could always try the AA warranty policy .. only problem is they will only cover one car per household and my TVR is on that.

Pottman, how did you manage that? Looking at the form excluded cars include TVR and M Series BMW's!!!!

[pottman]

Dunno,

Just did it all over the phone and told them what car I wanted them to cover. No secrecy on my part.

Perhaps I just got lucky.

Curiously though I think I might be in for big bills on the M3 before the TVR so I probably opted for the wrong car on the policy ....

[markizok]

I just spoke to a mpower specailist (Independent Motor Company) and they can get can get me a warranty for c. £300 per year and it covers everything - would it be better to pay more and go with BMW direct (1k seems pricy).