E60 530d - Extended Warranty
Discussion
Hi all. I've just purchased a 2006 530d Auto M-Sport, so though i'd say hi and ask for your advice.
I purchased the car from an independent dealer (who specialises in premium brand cars) and although it has come with a 1 year "warranty", i'm keen to protect myself financially by taking out a fully comprehensive extended warranty which allows me to use franchised dealers. Although i got a good deal on the car, it was exactly what i wanted (colour and spec) and the part-ex deal was good, i'm still kicking myself that i didn't just get a AUC car from BMW for ease and peace of mind....i'll just have to put that down to experience.
My car has a full BMW dealer service history and has 54k miles on the clock. The previous owner bought the car on the AUC scheme and that warranty expired im August 2009. The car has since been serviced at BMW inline with the variable servicing schedule.
As the car has a full BMW service history, i'm able to take out a BMW Extended Warranty (with Mondial). The only condition is that the policy doesn't take effect for 30 days, as the previous BMW warranty has expired. The premium is £61 per month for the fully comprehensive warranty (with a £100 excess and no BMW assist).
Alternatively, Warranty Direct have offered me a Luxury care fully comprehensive policy with stereo/nav cover for £530 per year (or £53 each month over 10 months). This will include a £50 excess, wear and tear cover (after 90 days) and consequential loss protection. It also covers franchised dealer labour rates.
Does anyone have any experience of these two options? Whilst i'm inclined to go with BMW, i'm concerned that the BMW warranty will just class any failures as wear and tear or pre-existing.
Thanks in advance, Chris.
I purchased the car from an independent dealer (who specialises in premium brand cars) and although it has come with a 1 year "warranty", i'm keen to protect myself financially by taking out a fully comprehensive extended warranty which allows me to use franchised dealers. Although i got a good deal on the car, it was exactly what i wanted (colour and spec) and the part-ex deal was good, i'm still kicking myself that i didn't just get a AUC car from BMW for ease and peace of mind....i'll just have to put that down to experience.
My car has a full BMW dealer service history and has 54k miles on the clock. The previous owner bought the car on the AUC scheme and that warranty expired im August 2009. The car has since been serviced at BMW inline with the variable servicing schedule.
As the car has a full BMW service history, i'm able to take out a BMW Extended Warranty (with Mondial). The only condition is that the policy doesn't take effect for 30 days, as the previous BMW warranty has expired. The premium is £61 per month for the fully comprehensive warranty (with a £100 excess and no BMW assist).
Alternatively, Warranty Direct have offered me a Luxury care fully comprehensive policy with stereo/nav cover for £530 per year (or £53 each month over 10 months). This will include a £50 excess, wear and tear cover (after 90 days) and consequential loss protection. It also covers franchised dealer labour rates.
Does anyone have any experience of these two options? Whilst i'm inclined to go with BMW, i'm concerned that the BMW warranty will just class any failures as wear and tear or pre-existing.
Thanks in advance, Chris.
It's a hard one....I've not had any issues with BMW ever trying to not honour the warranty on any repairs on the multiple cars I have owned over the last 15 years. Having said that all those cars were sold before they were three years old so were on the original warranty. Be interesting to know what experience people have of Warranty Direct ?
I can tell you what you can probably haggle with Warranty Direct on the premium...they originally quoted my close to £500 on my wife's Golf Gti which they came down to under £400 on pretty quickly because it does a low mileage....I got the impression I could have got more, seemed like the sales guy was under pressure to do a deal. I ended up buying a warranty off my local VW dealer who had their own scheme through an insurance company with main dealer labour rates etc for £250 a year for two years.
Warranties are money for old rope....very little competition and seemingly huge margins!
I can tell you what you can probably haggle with Warranty Direct on the premium...they originally quoted my close to £500 on my wife's Golf Gti which they came down to under £400 on pretty quickly because it does a low mileage....I got the impression I could have got more, seemed like the sales guy was under pressure to do a deal. I ended up buying a warranty off my local VW dealer who had their own scheme through an insurance company with main dealer labour rates etc for £250 a year for two years.
Warranties are money for old rope....very little competition and seemingly huge margins!
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