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      10-03-2011, 02:02 AM   #23
Simma
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Originally Posted by brava09 View Post
I am without warranty for the last two years, no issues so far, but only 22,000 miles on my car.
Out of curiosity, why was your car out of warranty for the last two years? All 08 warranty deadlines are approaching in a few months.
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      10-03-2011, 02:11 AM   #24
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Originally Posted by Simma View Post
Out of curiosity, why was your car out of warranty for the last two years? All 08 warranty deadlines are approaching in a few months.
Only two years the warranty around here.
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      10-03-2011, 09:10 PM   #25
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Originally Posted by dexx View Post
It is not a sucker's bet, it is pooling risk and they are skimming of the top for profit.

What you get for your money is literally "insurance" against the risk of very very costly repairs. It's the same thing the collision coverage or even *gasp* health insurance.

What I (and I surmise the OP) want to know is what is the size of the risk? Am I look at a $25,000 bill if x happens? What are the odds?
I understand your point of hedging against a truly catastrophic repair; however, in the long run, you're always better off to go it alone.

On the other hand, let's say you pay the premium for CPO. We'll call it $3k dollars. You buy the car with 20k miles on it and intend to drive it for 50k miles. At the end you can sell a car with an extended warranty to 100k miles and get a premium for it, which will offset your insurance premium somewhat. So for your 20k miles of extended warranty you pay maybe $1.5k.
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      10-03-2011, 11:36 PM   #26
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perhaps a better q is what's the average cost for common repairs past the warranty period...say <100K miles


software updates
transmission/drivetrain
cooling system repairs
electrical components
etc...

figure/estimate that versus the cost of a warranty to cover said repairs might help sway one person to or away from purchasing an extended warranty...it's all a crap shoot...those that have had warranty work needed past the standard time frame and had the extended warranty would say it's worth it perhaps...those that don't have an extended warranty and haven't needed one will say it's a unnecessary expense...
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      10-04-2011, 07:44 AM   #27
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Quote:
Originally Posted by geneatals View Post
perhaps a better q is what's the average cost for common repairs past the warranty period...say <100K miles


software updates
transmission/drivetrain
cooling system repairs
electrical components
etc...

figure/estimate that versus the cost of a warranty to cover said repairs might help sway one person to or away from purchasing an extended warranty...it's all a crap shoot...those that have had warranty work needed past the standard time frame and had the extended warranty would say it's worth it perhaps...those that don't have an extended warranty and haven't needed one will say it's a unnecessary expense...
Yes, that data would be truly helpful in making a decision. Don't think that's too readily available to consumers..I think it's a question that should be posed to the dealers by all of us when talking costs and coverage.
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      10-04-2011, 11:55 AM   #28
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Good luck with that. Anecdotal evidence is better on this forum that that will ever be.

Here's an example of what I learned about S5's from lurking on the audi forums: Somewhere between 50k and 100k (right out of warranty, but probably closer to 50k) The timing chain tensioners will wear out and require replacement for the "lifetime" timing chain, which is of course now packed into the rear of the engine. It's about $5 of plastic that needs to be replaced, and for that the total bill is along the lines of $7000, since the engine needs to be pulled.

One repair like that on the M3 would make the extended warranty worth the cost.

Fortunately I'm 4 years out from the first M3, so I'll get some data on you guys before my warranty runs out
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      10-04-2011, 03:29 PM   #29
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So NO insurance ever?

The argument that the insurance co makes a profit and that makes you a sucker would hold for ALL insurance so I guess no health, collision house fire coverage then???
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      10-04-2011, 06:34 PM   #30
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The argument that the insurance co makes a profit and that makes you a sucker would hold for ALL insurance so I guess no health, collision house fire coverage then???
That's an asinine position.

A house is half a million dollars and an engine replacement is <$20k.
Cancer is half a million dollars and an engine replacement is <$20k.

If you need insurance to pay for M3 maintenance, you should be driving something else.

And I am STRONGLY against health insurance. It has flummoxed the entire health industry. Doctors made a hell of a lot more money before the advent of health insurance for the masses, and people received much better care.
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      10-05-2011, 03:52 PM   #31
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Originally Posted by Radiation Joe View Post
That's an asinine position.

A house is half a million dollars and an engine replacement is <$20k.
Cancer is half a million dollars and an engine replacement is <$20k.

If you need insurance to pay for M3 maintenance, you should be driving something else.

And I am STRONGLY against health insurance. It has flummoxed the entire health industry. Doctors made a hell of a lot more money before the advent of health insurance for the masses, and people received much better care.
If you need insurance to pay for a 500k house, you should be living in a different house.

How's that for asinine?

If there is a significant chance for a 15-25k+ repair while I own the car, I will be getting an extended warranty. What's the cost of a new crate motor + install? I would assume over 20k. Engine failures are not unheard of on this forum.
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      10-05-2011, 05:48 PM   #32
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i never care about warranty on my cars. The extended warranty is always costing more then my repair cost
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      10-05-2011, 07:06 PM   #33
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Quote:
Originally Posted by dexx View Post
If you need insurance to pay for a 500k house, you should be living in a different house.

How's that for asinine?

If there is a significant chance for a 15-25k+ repair while I own the car, I will be getting an extended warranty. What's the cost of a new crate motor + install? I would assume over 20k. Engine failures are not unheard of on this forum.
Yup. You're right. Your statement was asinine.

I don't have to mortgage a car for thirty years. There is not a significant chance of having a $20k repair. If there was, extended warranties would cost close to $10k. Get a friggin clue before you post.
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      10-06-2011, 09:14 AM   #34
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Originally Posted by christopherchenm View Post
i never care about warranty on my cars. The extended warranty is always costing more then my repair cost
As a former R230 SL owner I can tell you that if you hold onto your SL past the basic warranty you're likely to break your streak.

Last edited by SD-E93-11; 10-06-2011 at 09:20 AM.
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      10-06-2011, 09:34 AM   #35
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Calling an extended warranty a "Sucker's Bet" on a BMW forum, is probably one of the most naive statements I've ever read.
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      10-06-2011, 10:08 AM   #36
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Do the math... I skipped on the extended warranty on my wife's 328xi. They asked for $3.5K.. after I talked to the master tech I skipped it. The reason they offer it is to make money... it is a for-profit company after all.
You can't do the math, you don't know what prices will be in 2 or 3 years on a given service or part.
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      10-06-2011, 12:49 PM   #37
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You can't do the math, you don't know what prices will be in 2 or 3 years on a given service or part.
It's high-school math man. Buy an 'extended warranty' if that makes you happy, but the overwhelming odds are you'd lose money. Do a little bit of research and you'll find out how much profit is built into those contracts . Dealers/salesmen push them like hell for a reason.

Again, I've saved tens of thousands of dollars by NEVER paying for that crap (cars, motorcycles, electronics, appliances, etc), so even with a catastrophic failure, I'd be WELL AHEAD of the numbers game... which at my 49, still stands at ZERO (knock on wood). It's all about the odds . Only instance it wouldn't make sense to 'gamble' is if you're broke... but if that was the case, you shouldn't be driving an M3 to begin with . Good luck.
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      10-06-2011, 05:22 PM   #38
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Originally Posted by elp_jc View Post
It's high-school math man. Buy an 'extended warranty' if that makes you happy, but the overwhelming odds are you'd lose money. Do a little bit of research and you'll find out how much profit is built into those contracts . Dealers/salesmen push them like hell for a reason.

Again, I've saved tens of thousands of dollars by NEVER paying for that crap (cars, motorcycles, electronics, appliances, etc), so even with a catastrophic failure, I'd be WELL AHEAD of the numbers game... which at my 49, still stands at ZERO (knock on wood). It's all about the odds . Only instance it wouldn't make sense to 'gamble' is if you're broke... but if that was the case, you shouldn't be driving an M3 to begin with . Good luck.
I've never been in a car accident. I've lost all the money I've spent on car insurance.

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      10-07-2011, 09:05 AM   #39
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Originally Posted by elp_jc View Post
It's high-school math man. Buy an 'extended warranty' if that makes you happy, but the overwhelming odds are you'd lose money. Do a little bit of research and you'll find out how much profit is built into those contracts . Dealers/salesmen push them like hell for a reason.

Again, I've saved tens of thousands of dollars by NEVER paying for that crap (cars, motorcycles, electronics, appliances, etc), so even with a catastrophic failure, I'd be WELL AHEAD of the numbers game... which at my 49, still stands at ZERO (knock on wood). It's all about the odds . Only instance it wouldn't make sense to 'gamble' is if you're broke... but if that was the case, you shouldn't be driving an M3 to begin with . Good luck.

First off, there is profit built into everything, even non-profits.
Second, when rolling the dice, one must decide what they are playing against. BMW, DCT, M3, s65 all sound like very expensive items to repair (IMHO) - why would I not pay a measly 3-4k, to avoid potentially spending 15k.

FACT: You can't tell me what a DCT replacement will cost in 2+ years. What are the odds of DCT failing? We don't know yet, or the S65 internals failing? We don't know yet, so I don't think you can bank on the M3 being solid in the long run (50k+)...just yet.

When there is risk and uncertainty everyone must assess their personal position. Whether it is a TV, Sofa, Watch, or whatever, not all instances require or need a warranty, some do.

I would not reccommend an extended warranty for the average M3 owner, since they switch cars every 2-4 years, but I wouldn't go around telling people insurance or warranties are sucker's bet. They are a safe bet, higher the risk, more the return - some of us are risk averse.

Also, I've had two cars totaled and over 35k paid out to me in insurance money, can you imagine if I did not have insurance, what kind of sucker I would be?

It's good that you have been lucky, but as you've said it's odds and probability, so your day is coming
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      10-07-2011, 05:50 PM   #40
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Quote:
Originally Posted by elp_jc View Post
Indeed. I've never bought any extended warranty on anything, and so far, I"ve never needed one, so I'm WAY ahead of the numbers game. I'd have spent tens of thousands of dollars already.

Bottom line is the overwhelming odds are you'd NEVER get your money back out of an extended service contract (it's NOT a warranty). Unless you're in a dire financial situation, would use up ALL the miles, and your car has been problematic, I wouldn't even consider one. Plus you folks need to read the fine print better; most include a proration clause, which only makes sense: if a part is supposed to last 100K miles, and craps out at 70%, you'd only get 30% of the cost. And that 70% is usually more than using an independent shop (or DIY), meaning you threw thousands of dollars away for nothing. Do your homework . They're cash cows for dealers and sellers for a reason. Good luck.

SOOOOO True. I requested info on a extended warranty contract that I heard an ad on the radio for. It would cost just over $5000 for 3 more years and 100,000 total miles coverage. To conclude the fine print. They will never cover anything! They will find a reason or a stipulation in the contract which there are hundreds of to keep them from having to cover it. Plus even with BMW extended warranty they can void it for many reasons... ie springs, spacers, tunes etc. I speculate that insurance companies make over 80% profit on the extended contracts. Might be even more. Thoughts???
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      10-07-2011, 06:09 PM   #41
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What is wrong w some of you people? I've owned many m3s and other than smg issues I have never had an issue both in and out of warranty. The cars are incredibly reliable. Whenever BMW has an issue they identify it and cover it. Who was around for the bearing issue on the e46? My guess is almost none of you. It's often owners get maintenance confused w warranty repairs. These cars are incredibly reliable. Treat it well, treat your dealer well and they will treat you well.

If you think warranties are designed as a courtesy to "insure" the client you are a moron. It is the car business people. Profit is built into EVERYTHING it's a commission based business and has been for years.

Dexx your comments are so stupid I honestly don't believe you have made it this far in life w such success.
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