Running without warranty

[ianm5]

Is there anyone here that runs comfortably without paying for warranty?

I know the benefits of warranty ...no need to cover those.....but I have to accept my car is still depreciating and 750-1500 (not including any excess payments) may be a bit spicy moving forward. It may be 8-10% of the value of the car.

A previous daily driver Esprit was worth about the same as my M5, yet I would keep it running with tie wraps and a good smack with a hammer. I feel a little like I’ve bought into a myth of failing engines and drawn myself into the BMW cartel. It’s nice but it might not be proportional as a cost.

If I had not renewed the warranty this year I would have experienced an RDC issue and a faulty drivers door handle comfort entry. When the lockdown ends these will be sorted for 2x excess charge. Without warranty I suspect I would have found a solution, I probably would have been even.

I guess many of us are in the same boat here...what are people’s plans? Do you have personal exit strategies from the warranty?

[Dwaynos]

Originally Posted by ianm5

Is there anyone here that runs comfortably without paying for warranty?

I know the benefits of warranty ...no need to cover those.....but I have to accept my car is still depreciating and 750-1500 (not including any excess payments) may be a bit spicy moving forward. It may be 8-10% of the value of the car.

A previous daily driver Esprit was worth about the same as my M5, yet I would keep it running with tie wraps and a good smack with a hammer. I feel a little like I’ve bought into a myth of failing engines and drawn myself into the BMW cartel. It’s nice but it might not be proportional as a cost.

If I had not renewed the warranty this year I would have experienced an RDC issue and a faulty drivers door handle comfort entry. When the lockdown ends these will be sorted for 2x excess charge. Without warranty I suspect I would have found a solution, I probably would have been even.

I guess many of us are in the same boat here...what are people’s plans? Do you have personal exit strategies from the warranty?

I run without warranty but I do all my own repairs, obviously parts are expensive, if something goes wrong with the drivetrain you're in big trouble.

I don't have an exit strategy, I just overly maintain my car.

[Boosted M5]

I'm with Dwaynos, I maintain my own car and parts are expensive. When I bought my car it had 6 months left on the factory warranty and I claimed what ever was broken then. Ever since I've been driving around with "when will the car break down" thought in my head. Warranty is good for piece of mind and really makes sense if the car has 2 major breakdowns. I rather pay out of pocket than to pay up front 3k and lose it if nothing breaks that isn't maintenance related

[Taheemr]

for the sake of £800 I would renew, you can always cancel on a monthly pay as you go, mine is up in Sept this year

[Dwaynos]

Originally Posted by Taheemr

for the sake of £800 I would renew, you can always cancel on a monthly pay as you go, mine is up in Sept this year

The only warranty worth having in my opinion is the BMW comprehensive, which costs about £1600 per annum if you don't currently have a warranty. It's a lot of money, I understand that most repairs would cost more than this but it's a gamble, if you're not willing to take the gamble, get a warranty.

[OneExtra]

I have the BMW Comprehensive Warranty with breakdown and it costs me £800 a year, my car only covers about 5,000 miles a year but I would never have an M5 without one.

For me the running costs of an M5 include the cost of the warranty.

We also have home insurance and car insurance which has not been claimed on in at least 10 years and as with the car its part of life.

As has been mentioned you are driving a car worth circa £90K when new and it maybe worth £25K now but its still £90k worth of parts when it goes wrong.

[Taheemr]

Originally Posted by Dwaynos

The only warranty worth having in my opinion is the BMW comprehensive, .

Yes I would never leava home without it, its an incidental cost or owning one on these machines, for me it also differentiates the cars that have been looked after V the ones that have not.

£800 seems about right the £1600 must be for a older / higher mileage car

[J11SEK]

Originally Posted by Taheemr

Yes I would never leava home without it, its an incidental cost or owning one on these machines, for me it also differentiates the cars that have been looked after V the ones that have not.

£800 seems about right the £1600 must be for a older / higher mileage car

Afraid not.... this is for my car, 2015 42k miles... with the highest access and no breakdown cover!

OneExtra You must know someone at BMW?? If not which dealership is giving them away at £800 because I want one :

[Dwaynos]

Originally Posted by J11SEK

Afraid not.... this is for my car, 2015 42k miles... with the highest access and no breakdown cover!

OneExtra You must know someone at BMW?? If not which dealership is giving them away at £800 because I want one :

THIS.
£800 is probably for renewal every year, a new policy would cost a lot more. If mine was £800 it would be a no brainer.

[ianm5]

If I understand the BMW correctly the price differentials are:

1. If you have a break in bmw warranty is jumps from c800 to c1500
2. If you choose excess or monthly payments the annual equivalent is slightly different
3. Over 60k it goes up anyway

The engine pop argument on this car gets a lot of airtime but I’ve never actually seen anything that says what the actual proportion of catastrophic warranty claims is .... and it would be interesting to know how many of those cars lived a hard or tuned life.

I think when I expire later in the year I’ll take the monthly option until it’s clear what the residuals on the cars are going to do. I must admit I’ve seen mine depreciate maybe 30% in the last 2 years, much more than I thought, I can see these being 10-12k within 2 years.

Does warranty include the clutch? The

[Dwaynos]

Originally Posted by ianm5

If I understand the BMW correctly the price differentials are:

1. If you have a break in bmw warranty is jumps from c800 to c1500
2. If you choose excess or monthly payments the annual equivalent is slightly different
3. Over 60k it goes up anyway

The engine pop argument on this car gets a lot of airtime but I’ve never actually seen anything that says what the actual proportion of catastrophic warranty claims is .... and it would be interesting to know how many of those cars lived a hard or tuned life.

I think when I expire later in the year I’ll take the monthly option until it’s clear what the residuals on the cars are going to do. I must admit I’ve seen mine depreciate maybe 30% in the last 2 years, much more than I thought, I can see these being 10-12k within 2 years.

Does warranty include the clutch? The

You'll probably never see the proportion of catastrophic failures. The sad thing about these cars is, a lot of people who own them don't know anything about cars, all they know is "the car stopped working, it went the BMW and now it works". This was especially the case in the early years of the f10 life. Now they are more affordable more people with car knowledge can afford them. This doesn't mean that all people who bought them new didn't know anything about cars, but most of them won't have done. Some people are also not interested in what went wrong if they're not paying for it.

[Taheemr]

Originally Posted by J11SEK

Afraid not.... this is for my car, 2015 42k miles... with the highest access and no breakdown cover!

OneExtra You must know someone at BMW?? If not which dealership is giving them away at £800 because I want one :

Wow, the last time I checked a few months ago using a randon M6 listed on autotrader I am sure it was well under a grand, for the comprenseive cover, I guess this is yet another nail in the old depreciation coffin.

Regardless I'd still take one out though whem mine is due in Sept 20

Ps, I am paying £45 p/m for the wifes 435D with 70k miles on it, I can only assume the risk profile has changed for what ever reason

[drbru]

personally i would not run this type of car without warranty (or for that matter) any car that is close to 100k when new)...it would only be the BMW extended warranty though that i have

my car is now at 67000 miles and I had the shock of my life when it came to warranty renewal this year and it jumped to just under 3k... I called up BMW to express my surprise and they agreed to keep the price at 800 for one more year...MY dilemma is going to come in a year from now, do i keep the car and extend the warranty another year for 3k odd or just sell up (which is on the cards anyway) although i would hope to be able to sell the car with the BMW warranty as that helps massively compared to other m5s with no warranty at all

i have warranty on my car for the last 6 years of ownership; whilst i have had nothing major go wrong with the car, over the last 6 years i think the warranty has more or less paid for itself. You also have to remember that even where there is a failure that is not covered under warranty, BMW are more likely to offer a gesture of good will because you have historical been paying for the warranty anyway

[hawker1986]

Personally I wouldnt be running my M5 without warranty like many of the others here I consider it part of the running costs and while I have some mechanical know how and might be able to do minor things on a less complicated car I am in no way able to work on an M5. For me the cost is fairly minimal, if I keep the car 8 years the warranty will have cost me <6k which isnt that much and, while unlikely I admit, the car could easily throw that sort of bill with a failure.

Originally Posted by drbru

personally i would not run this type of car without warranty (or for that matter) any car that is close to 100k when new)...it would only be the BMW extended warranty though that i have

my car is now at 67000 miles and I had the shock of my life when it came to warranty renewal this year and it jumped to just under 3k... I called up BMW to express my surprise and they agreed to keep the price at 800 for one more year...MY dilemma is going to come in a year from now, do i keep the car and extend the warranty another year for 3k odd or just sell up (which is on the cards anyway) although i would hope to be able to sell the car with the BMW warranty as that helps massively compared to other m5s with no warranty at all

i have warranty on my car for the last 6 years of ownership; whilst i have had nothing major go wrong with the car, over the last 6 years i think the warranty has more or less paid for itself. You also have to remember that even where there is a failure that is not covered under warranty, BMW are more likely to offer a gesture of good will because you have historical been paying for the warranty anyway

This is probably now information that is too late but im pretty sure if change to monthly payments before you hit 60k they just keep renewing at the same cost...

[OneExtra]

Originally Posted by J11SEK

Afraid not.... this is for my car, 2015 42k miles... with the highest access and no breakdown cover!

OneExtra You must know someone at BMW?? If not which dealership is giving them away at £800 because I want one :

This is the price quoted by BMW on my car if I paid annually and had a £250 excess. Car has only 16,000 miles and has always been in warranty.

Car is October 2016

[OneExtra]

Originally Posted by ianm5

I must admit I’ve seen mine depreciate maybe 30% in the last 2 years, much more than I thought, I can see these being 10-12k within 2 years.

As with all M cars there is a world of difference between an excellent example and an average car.

A high mileage older car with low spec will be worth nothing like a newer, low mileage high spec car.

I dont think £12K is realistic unless the car is a real dog

[hawker1986]

Originally Posted by OneExtra

This is the price quoted by BMW on my car if I paid annually and had a £250 excess. Car has only 16,000 miles and has always been in warranty.

Car is October 2016

I would call them and ask them, mine is 2014 car bought AUC and last year just extended the warranty and it was £793 with £250 excess. Ive just renewed it again this year and its the same...

[OneExtra]

Originally Posted by hawker1986

I would call them and ask them, mine is 2014 car bought AUC and last year just extended the warranty and it was £793 with £250 excess. Ive just renewed it again this year and its the same...

It seems as though as soon as their is a gap in cover getting it started again the cost goes through the roof

[Dwaynos]

Originally Posted by M5theonlyone

£10-12k will be for 11's with Cat C or D and over 100k miles on them with worn out parts and scratched,dinged bodies.

Let's hope so.

[mystic sport]

Had my warranty renewal letter this morning. 2015 car with 27k. £250 excess with comprehensive everything and breakdown is £875 or £92 a month. Goes to £1087 with £100 excess and no excess is something like £1362.

[M5Rick]

Originally Posted by Dwaynos

Let's hope so.

You can always keep it and you've got no worries about depreciation like some others. A lesser or diesel F10 will always drop down a long shaft after time but the special M's will be wanted badly and it's up to owners to be firm with asking price. Any fool can sell theirs for a song.