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