Cost of continuing warranty on M2
Discussion
If you own a near 3 year old M2 the warranty of which is about to expire, how much have you been quoted to keep it going through Mondial ?
I understand that you get a letter from them with an invitation to get a quote online and that it's quite a lot cheaper than to buy say a 4 year old M2 and then get a quote from Mondial.
Any truth in that ?
Thx.
Nick
I understand that you get a letter from them with an invitation to get a quote online and that it's quite a lot cheaper than to buy say a 4 year old M2 and then get a quote from Mondial.
Any truth in that ?
Thx.
Nick
xjay1337 said:
That's the BMW Insured warranty, right?
You can get a quote online.
The prices are the same for every car, IE if I had an M2 and you had an M2 the prices would be the same. But it's banded on miles.
My first year with an M135i cost £350 with a £250 excess.
My second year, with a claim made, was £320 on my renewal , which I thought odd - so maybe they will give you a cheaper price if you sign up via their leter
However as my car was approaching 60k miles, I took it out on a pay monthly, as the premium stays the same irrespective of mileage at this point up until I believe 100k where you drop the comprehensive and it goes to named component?
Yes I have used the product itself in the past too but my question was around the premium differential between getting a quote on a car that has fallen out of the original warranty and getting a quote following the letter that owners of cars about to be over 3 years receive to continue the warranty uninterrupted. It seems significant, as confirmed by contractor. Which means that buying a 34 month old car may yield quite a saving compared to buying a 37 month old car if you intend to buy the Mondial/BMW cover and particularly if you lock the price by paying monthly.You can get a quote online.
The prices are the same for every car, IE if I had an M2 and you had an M2 the prices would be the same. But it's banded on miles.
My first year with an M135i cost £350 with a £250 excess.
My second year, with a claim made, was £320 on my renewal , which I thought odd - so maybe they will give you a cheaper price if you sign up via their leter
However as my car was approaching 60k miles, I took it out on a pay monthly, as the premium stays the same irrespective of mileage at this point up until I believe 100k where you drop the comprehensive and it goes to named component?
Thanks guys, really helpful stuff. For clarity, if a BMW dealer sells an approved M2, it will then qualify for the lower rate through a invitation to extend the AUC warranty before the end of the AUC warranty ? Would that still apply if the dealer has restarted cover because he bought a car with an elapsed orignal warranty that wasn't extended ?
I am slitting hair here and it's perhaps difficult to know for sure.
I am slitting hair here and it's perhaps difficult to know for sure.
xjay1337 said:
I guess it would be a question worth asking.
I would also ask "Does the price premium you get from buying from a dealer vs a private sale, offset the cost of the extra price of the warranty for the first year (Presuming second year it drops, as per mine I had a 10% reduction from the first year paid upfront).
It still has little to do with private vs dealer but with interrupted vs non interrupted. I would also ask "Does the price premium you get from buying from a dealer vs a private sale, offset the cost of the extra price of the warranty for the first year (Presuming second year it drops, as per mine I had a 10% reduction from the first year paid upfront).
Your cost difference is likely to be due to an underwriting correction based on claim experience.
xjay1337 said:
You're not understanding
I'm saying that if a BMW M2 from a dealer costs say £32k , and your private purchase costs say £28k, are you going to be better off having bought it from BMW and then subsequently getting savings on the warranty?
I would think it's cheaper to buy an M2 privately and then just buy the warranty irrespective of the cost.
Hiya Captain Obvious. I'm saying that if a BMW M2 from a dealer costs say £32k , and your private purchase costs say £28k, are you going to be better off having bought it from BMW and then subsequently getting savings on the warranty?
I would think it's cheaper to buy an M2 privately and then just buy the warranty irrespective of the cost.
I am totally understanding that but that's not what I am asking as I am assessing the delta between interrupted vs uninterrupted (again) irrespective of whether I buy AUC or private. I may well want to buy private and uninterrupted.
5517 said:
M2 Competition coming up for 3 years old very soon and have received the extended warranty offer from BMW.
£3500 for 2 years!!!!
More than any Supercar ive owned for a 2 series beemer!
I am baffled by this. The official BMW warranty though Mondial/Allianz/AWP is sold yearly. Is this direct with them on https://www.bmw-warranty.co.uk/?£3500 for 2 years!!!!
More than any Supercar ive owned for a 2 series beemer!
Or through a dealer? It might be another product.
If I login on mine, which is due early March, the price of the renewal is the same as last year, ie £995 fully comp / £100 excess / no assistance. And I can't buy 2 years, just the next 12 months.
I also understand from another PHer that the price is the same irrespective of what M car you have.
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