BMW extended warranty for B10 - worth renewing??

[Metrics]

Evening all

My recently acquired 2002 B10 V8S (I will post some pictures up soon, I promise) is quite unusual as it's still under Comprehensive BMW Warranty! The policy expires soon so need to consider if I renew it or not. Given the age/mileage (96k) it's not cheap at £1690 a year (or £156 a month) with £250 excess.

As the car is new to me I am considering it for peace of mind, but I guess the question for you knowledgeable folk is how much of a wallet drain can a B10 be and is the cost of annual failures likely make this outlay worth it?

Of course there's a "how long's a piece of string" element to all this, as who knows when a car can fail, but I'm sure you get my gist with the question.

Thoughts/opinions welcomed!

[Charles]

At 96k miles, I think this is the last year you will be able to take up the BMW warranty as there is a limit at 100k for an extension to the warranty.

As you have only just acquired the car, it may well be worth having the peace of mind in place until you have got to know the car and what will be coming up in terms of longer term maintenance - but this depends on how long you plan to keep the car. For example, the V8S has a Brembo brake set-up that will cost you north of a grand to replace when the discs have worn. This wouldn't be covered by warranty and so your £1700 may be better set aside for this cost if they are looking to be getting low.

As others may well say, the warranty is like insurance cover and you may not need to make use of it in the next 12 months. However, the V8S can be extremely costly as ALPINA specific bits fail and until you know the car, then you need to decide which way to jump as your crystal ball is about as accurate as any of ours!

Hope this helps

[Metrics]

Hi Charles

Thanks for the input. Yes, agree - all about chance really. The law of averages dictates something will happen as the warranty runs out...

One option I have is renewing monthly - I will pay a bit more but it runs for as long as I pay, regardless of mileage.

I intend to keep the car for a good length of time, so will renew on a monthly basis and see how I get on and how the behaves. The car is currently at my BMW dealer having a few things replaced under warranty that I picked up on on inspecting the car prior to purchase. I rather suspect the work on this visit will exceed the policy's annual premium!

Brakes are ok on the car - as you can imagine, one of the first items I checked for!

[AidanB10]

With regards to Warranty & mileages, there is no limit on the warranty so long as the policy is kept renewed

Is it worth it though? Well how many other major repairs can you get fixed for £250 if its covered by your insured warranty

Now on an E39, there isnt alot to go wrong, however if for instance you've a Ballast for the Headlamp fail, then that's more than £250 for the part alone

Worst case scenario a timing chain that begins to get rattly? Again more than £250

[MCB]

I cant remember the exact details, but because the car we just bought had full BM service history I called them about buying a warranty. The warranty is housed out so not actually BMW and after 100k they will only cover engine and gearbox and wanted over £3,000 for the privilege! Our car has done 129k.

As you are below 100k and if the warranty cover is FULL I would go for it. If you can afford it that is. At least it will give you piece of mind until you get to know the car a little better. Heck! Even if the warranty is not full, for a car like yours I think that is still a good price. Big engine, big repair bills.

[Bat]

Hi,
Get a leak down and compression test whilst it's still under warranty..
Cheers,
Gavin

[Metrics]

Cheers Aidan & MCB, my thinking is also swaying towards renewing on a monthly basis and seeing how I get on.

Hi,
Get a leak down and compression test whilst it's still under warranty..
Cheers,
Gavin

Good shout - who's best placed to do this check? Any good specialist?

[brett]

Phil Crouch is down your way somewhere,if you were in the midlands I would recomend Simtek

James is briliant

[CaPtBlaCk]

Forget it but save the money in a safe place.

Then if a fault occurs use the savings, else blow it on something else.

If you look at the cost over one year then failing an engine imploding which is highly unlikely or perhaps a total gearbox rebuild then other cheaper options exist i.e. using a good independent and careful selection of aftermarket parts will be much cheaper in the long term.

A gearbox rebuild will need to be scheduled at some point because the torque convertors are prone to losing the lock up clutch function. Get it checked now whilst under warranty and if all is well then revert back to my first point above.

[Metrics]

A gearbox rebuild will need to be scheduled at some point because the torque convertors are prone to losing the lock up clutch function. Get it checked now whilst under warranty and if all is well then revert back to my first point above.

Thanks CaPtBlaCk. Interesting point about the gearbox - my car had a brand new Alpina gearbox fitted under warranty 2 years ago. I have a copy of the invoice (with blacked out costs, but you can still make the numbers out) - an eye watering figure!

[CaPtBlaCk]

Thanks CaPtBlaCk. Interesting point about the gearbox - my car had a brand new Alpina gearbox fitted under warranty 2 years ago. I have a copy of the invoice (with blacked out costs, but you can still make the numbers out) - an eye watering figure!

That's perfect and another sound reason not to renew!