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Calypso-E34

Approved Used Warranty about to expire

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So, I have almost had the F10 525d for a year now, and I bow has 60000 miles on the clock.  I have had a letter from BMW, offering a selection of insurance based warranties to cover the car from now on.  None are as comprehensive as the Approved Used warranty.  There are three levels of cover.  Assuming I take the emergency service with it, and accept a £100 excess, the cost would be:

 

Comprehensive cover - £863 or £92 per month (28% higher to pay monthly)

Named Component cover - £783 or £79 per month (21% higher to pay monthly)

Driveline cover - £602 or £65 per month (29.5% higher to pay monthly)

 

Comprehensive cover with no excess (the closest to the cover I have now) would be £1060 per year, or £111 per month (26.6% higher to pay monthly)

 

As an alternative, Quentin Willson asks £633 or £58 per month (9.6% higher to pay monthly) for similar cover to BMWs top warranty.  That seems good value in comparison with BMW, and I have used these people and had a claim before with no issues.

 

BUT

 

I'm not sure I'm going to bother with any of them - I have never bought an extended warranty before in my life.  I know that's a big risk, but this is a considerable expense.  I will probably have the car maintained and repaired outside the dealership from now on - somewhere that charges £50 - £70 per hour, and not £150.

 

What do all of you guys do?

 

Edited by Calypso-E34

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I took out the comp warranty with £250 excess and in hindsight (wonderful thing) I would now keep the cash in a seperate account. I had the car 2½ years and paid £60pcm and only ever claimed once for a rear suspension air bag as I needed it doing asap due to moving the daughter to uni and delivery of a non oem bag was 5-7 days. The second airbag went and i bought a non OEM one from fleabay for just over £40 and it took ½ an hour of my time to swap.

 

The other bit I did try was the condenser but they denied it was a silent recall and said my vin was not affected, again they said if they took it off and it was stone damage then it would be chargeable (as you'd expect) so my indi changed it for just over £200 so again i was quids in with the excess.

 

I found 2 great indi's and their rates were c£45ph iirc and both were very knowledgeable in German cars, the latter one i used being a specialist in Porsche.

 

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I would be considering how much the car would now sell for, the cost of buying an AUC equivlent and seeing what the gap is. If it's £1500-2000 it's worth considering to get yourself into a slightly newer car with warranty. Negotiate in a second year and for a small uplift, your in a better position

 

Thats my usual thought process and works for me personally although I've never managed to spend only £2k to upgrade as I end up going for a differing model lol

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5 hours ago, sanjx said:

I would be considering how much the car would now sell for, the cost of buying an AUC equivlent and seeing what the gap is. If it's £1500-2000 it's worth considering to get yourself into a slightly newer car with warranty. 

 

Now THAT is Officer thinking!  

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I will have the same conundrum in August, although mine has only just turned 25,000 miles. I got superb value out of my E91 warranty and finished thousands of pounds up. However, most of those claims were later in the car's life (it was 10 when I traded it in) and it only cost about half what you have been quote for the 525d. I'm thinking of just putting cash aside each month instead of renewing. Also, I would say comprehensive or nothing.

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I always consider what could go wrong and weigh up the warranty cost vs cash in the bank. For £900 a year, that's a big component to go wrong - i'd prefer to keep that cash and repair what does go wrong. 

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Not really - price up an a/c compressor supplied and fitted, or a condenser for example. Modern BMW's aren't unreliable, bit they are complex. They're also built to a price to enable us to buy a new one for not that much more than they cost 20 years ago.

 

I'd renew the warranty, fully comp. 

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20 hours ago, SuperDave said:

Its a fair bit cheaper to renew when under 60k. 

 

That puts a different complexion on it for me. I forgot that my E91 policy was very cheap before it hit 60K. Doesn't help Calypso but perhaps I will be renewing mine!

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I didn't renew my AUC warranty on my E60 or my F10. 

 

The E60 had a bill of circa £300 in its first year after expiry so I was better off not paying for the warranty.

 

The F10 had work done under AUC warranty (rear spring and condenser) but it's been out of its warranty for well over a year and it's been fine so again I'm financially better off again.

 

I've never been able to negotiate two years AUC warranty when buying but I know of one owner who has...but he had an F11 with soggy rear air springs so it was worth his while.

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OK - thanks for all of that chaps!

 

The car is in for an MOT the week after next, and I have asked them to check for anything wrong that might be fixable under the existing warranty.  They seem happy enough to do that, as they get the work if it needs anything anyway, so a win win situation.

 

I'll give the warranty more thought and will decide then.

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We are in the fifth year without running a warranty on the F11 - so far we way well ahead of the game with a total of £500 spent in parts and labour in 5 years over above standard servicing, brakes and MOT. 

 

It is a risk but one I am willing to take.

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I have paid out around 1500 in monthly payments for extended warranty for my car and had 4,000 worth of work done on it last year plus 3,000 just after I bought it under AUC warranty so for me it is worth it, especially with the breakdown cover for me as taking mine to the Czech Republic in July for a long weekend.

 

cheers

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2 hours ago, 535i Andrew said:

I didn't renew my AUC warranty on my E60 or my F10. 

 

The E60 had a bill of circa £300 in its first year after expiry so I was better off not paying for the warranty.

 

The F10 had work done under AUC warranty (rear spring and condenser) but it's been out of its warranty for well over a year and it's been fine so again I'm financially better off again.

 

I've never been able to negotiate two years AUC warranty when buying but I know of one owner who has...but he had an F11 with soggy rear air springs so it was worth his while.

 

I have seen a picture of your garage. A  2-post lift is a DIY'rs wet dream and they aren't too expensive, £1500 fitted.

 

33 minutes ago, zarnd said:

I have paid out around 1500 in monthly payments for extended warranty for my car and had 4,000 worth of work done on it last year plus 3,000 just after I bought it under AUC warranty so for me it is worth it, especially with the breakdown cover for me as taking mine to the Czech Republic in July for a long weekend.

 

cheers

 

S85 is a different kettle of fish. Apart from the SMG box and EDC, E61 is an E61.

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1 hour ago, jake13 said:

 

I have seen a picture of your garage. A  2-post lift is a DIY'rs wet dream and they aren't too expensive, £1500 fitted.

 

lol

 

I have pesky roof trusses in the way which would hinder how high I could lift a car......but I like your thinking.  My wife wouldn't, but I do.;)

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Dealers will do 2 years warranty. Rybrook Worcester have always been very good and without asking, the 2 years warranty has always been there for me. Might not be the cheapest but the customer service and understanding of running costs from sales (Dale) has meant i've been always gone back and recommended family and friends. 

 

It's always a gamble with keeping a BMW with or without warranty. I'm the unluckiest guy on earth and know that the day the warranty runs out, my car will flood the drive with oil and cost me a fortune. But, thats just me and my view (luck)

 

My garage is big enough for a 2 poster now but the 7 is too long to fit. F10 was a perfect fit but would still hit the garage opener. Mind you, i've never changed the oil in a car so a 2 poster would be a waste!

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Renew your warranty with just under 60k miles and it's cheaper, mine is £80 for fully comp with £100 excess. You'd have to renew before your mot though otherwise it'll be on their system that you are over 60k miles.

 

I'm also mr unlucky, hardly get any value from my warranties, but the second I stop paying I know the cars will fall apart!

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OK, to resurrect the thread: My warranty expires in a couple of days. I am planning on selling the car so rang up the company to check on my options. Turns out that if I take up annual and don't claim, I can get a pro-rata refund less £25 upon trading in. This is only valid if I don't claim.

 

If I sell privately, I can either transfer an annual policy or take a pro-rata refund less £25. If I cancel, the new owner gets 10 days in which to take out the warranty. This last part I didn't know and is the reason I am typing this out.

 

Similarly, if I pay monthly, I can cancel whenever and the new owner gets 10 days to start the policy.

 

I believe that the car is worth more and is easier to sell with a manufacturer warranty in place. Given that monthly is a huge hike and that I will be trying not to claim, I have paid £678 for comprehensive annual cover with £250 excess.

 

If I trade, I'll claim back the remainder and if I sell privately, I can come to an arrangement or cancel it. I had no idea it was quite so flexible and these details are not in the warranty handbook.

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