Extended Warranty for F10 M5

[lalitsingh]

Hello.
Does anyone has experience with these two companies? I want to know if it's a good idea to get the extended warranty from any of these.
I just signed up with Ideal however they seem a bit sketchy since no matter what option you chose, the same people handle the calls for service, warranty, etc.

Ideal Auto Protect

https://idealautoprotect.com/

OR

American Dream

https://americandreamautoprotect.com/

[JDMSteven]

Back out now and good luck getting your money back. Most credible warranty companies won't even touch these "older" M cars for warranty and the ones that will are just a sham and don't cover shit. I bought a $4500 2yr/24k mi warranty from Patriot warranty on my 13 M6 42k mi. They paid out once after a month when an ignition coil failed but only covered $120/hr worth of labor which was only half of the labor rate at my dealer.

After a while I decided I wanted to cancel and get a pro-rated return. Every time I called for cancellation, nobody would answer, they're all busy. But for some reason, if I pretended I wanted to buy a warranty on a 2023 BMW X7, they're more than happy to sell me one and wouldn't tell me what my pro-rated return would be.

Made a claim with my CC company and told them this might be a sham and they took care of the rest.

[lalitsingh]

Thank you for the detailed information.
Interesting.. good thing is this is how we all learn so I had the warranty people talk to my dealership and they cover the labor hours a.k.a. hourly rate. Now that is true the shadiness and terms and conditions are quite vague and we only find out once the car has any issue. Any other recommendation of a warranty company?

[M5_Raz]

I'm also against these warranty companies. They never want to cover the repair and it's always a hassle.

As long as you drive it slow when the oil is cold, change oil every 3-5k miles, and maintain it properly you shouldn't really have a need for a warranty.

Of course there are outliers, but I'm willing to risk it and keep the money in my account vs. theirs.

[JDMSteven]

The best warranty is $10k in cash for god forbid it spins a bearing. That's the warranty I'm sticking with lol.

[Da_Meister_22]

Originally Posted by lalitsingh

Hello.
Does anyone has experience with these two companies? I want to know if it's a good idea to get the extended warranty from any of these.
I just signed up with Ideal however they seem a bit sketchy since no matter what option you chose, the same people handle the calls for service, warranty, etc.

Ideal Auto Protect

https://idealautoprotect.com/

OR

American Dream

https://americandreamautoprotect.com/

Whichever one you go to just make sure you pay with an American Express CC. You'll thank me later

[SpeedProtocol]

Invest in some tools. DIY

[texsn95]

Originally Posted by JDMSteven

Back out now and good luck getting your money back. Most credible warranty companies won't even touch these "older" M cars for warranty and the ones that will are just a sham and don't cover shit. I bought a $4500 2yr/24k mi warranty from Patriot warranty on my 13 M6 42k mi. They paid out once after a month when an ignition coil failed but only covered $120/hr worth of labor which was only half of the labor rate at my dealer.

After a while I decided I wanted to cancel and get a pro-rated return. Every time I called for cancellation, nobody would answer, they're all busy. But for some reason, if I pretended I wanted to buy a warranty on a 2023 BMW X7, they're more than happy to sell me one and wouldn't tell me what my pro-rated return would be.

Made a claim with my CC company and told them this might be a sham and they took care of the rest.

Your dealer is 240/hr?
I cancelled with Patriot as well and finally ended up with a pro-rated refund, but it was not a pleasant process. After doing more research after buying one, I realized, I wouldn't get shit from them if something major were to to happen.