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      02-07-2013, 06:07 PM   #1
EndOfAnEra
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Thumbs up Over 50k without an extended warranty

How's it going M3post. I'm trying to get some opinions on being over 50k without any type of warranty. I see people posting about rod bearings being worn, iacv's going bad, throttle solenoids going bad, coil packs failing, and other common issues. I know it doesnt happen to everyone but these seem to be the most popular. On the other hand I see people talking about being able to experiment with new and different oils, all types of mods, and other stuff like that. I'm just looking for opinions from people who are out of warranty about the pros and cons of being out of warranty and the risks also. I have an extended warranty just for the record.
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      02-07-2013, 06:35 PM   #2
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56K miles on my 2009 and no warranty. Did extra services and car is not abused and had no warranty claims.

chuck
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      02-07-2013, 06:46 PM   #3
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simple math is that the companies that sell warranties due it because it is profitable, thus the net present value of your warranty purchase is negative.

I'm not saying one should never buy one, it all comes down to what the comfort is worth and how devastating a major repair would be for you financially.

If you had unlimited funds, you'd be selling the warranties (insurance), not buying it. Just look at our friend Warren Buffett.
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      02-07-2013, 08:56 PM   #4
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an extended warranty is nice to have, but keep in mind these cars don't usually turn into pumpkins after 50K miles. Just take care of it.
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      02-07-2013, 08:57 PM   #5
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Op thought you were selling your car?
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      02-07-2013, 09:30 PM   #6
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67k and not a single problem from new.

my 2009 was in the shop constantly.

Luck of the draw.
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      02-07-2013, 09:50 PM   #7
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Quote:
Originally Posted by Radiation Joe View Post
67k and not a single problem from new.

my 2009 was in the shop constantly.

Luck of the draw.

You have 67k miles on a 2011!?
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      02-07-2013, 10:46 PM   #8
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Quote:
Originally Posted by EndOfAnEra View Post
How's it going M3post. I'm trying to get some opinions on being over 50k without any type of warranty. I see people posting about rod bearings being worn, iacv's going bad, throttle solenoids going bad, coil packs failing, and other common issues. I know it doesnt happen to everyone but these seem to be the most popular. On the other hand I see people talking about being able to experiment with new and different oils, all types of mods, and other stuff like that. I'm just looking for opinions from people who are out of warranty about the pros and cons of being out of warranty and the risks also. I have an extended warranty just for the record.
OP, extended warranties are nothing more and nothing less than insurance against expensive repairs, should it need them. The M3s are very reliable cars, but when they break, they are generally very expensive. If you can afford $1,000s and don't mind spending it if they break, go for it. If you do not want to pay/cannot afford expensive repairs, buy the insuance. Obviously, the insurance companes make money for the service they provide, as they should.

I recently had a spindle replaced. Not sure how much it would have cost, but I am sure a couple of thousand with trouble shooting and replacing. I suspect I got about 1/2 of my premium returned. You are rolling the dice.

Good luck,

John
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      02-08-2013, 07:13 AM   #9
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76k no issues just mainly maintenance
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      02-08-2013, 07:51 AM   #10
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Put the extended warranty money in your repair fund and self insure.
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      02-08-2013, 08:44 AM   #11
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Quote:
Originally Posted by MKE_M3 View Post
simple math is that the companies that sell warranties due it because it is profitable, thus the net present value of your warranty purchase is negative.

I'm not saying one should never buy one, it all comes down to what the comfort is worth and how devastating a major repair would be for you financially.

If you had unlimited funds, you'd be selling the warranties (insurance), not buying it. Just look at our friend Warren Buffett.
Companies make money off extended warranties due to pooling of their risks.

My car is out of warranty now and im considering selling it and picking up and 11 or 12.
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      02-08-2013, 11:19 AM   #12
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Quote:
Originally Posted by RRGOO7 View Post
My car is out of warranty now and im considering selling it and picking up and 11 or 12.
You will lose much more $ doing that than simply hanging on to your car and paying for any repairs needed (which would likely be not too much unless you have experienced problems in the past).
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      02-08-2013, 11:27 AM   #13
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Currently 46k Been out of warranty since 41k (4 years). I dont plan on buying an extended warranty. I take care of my car, and it has had 0 issues in the past 4 years.
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      02-08-2013, 01:34 PM   #14
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I should have noted that this car is just a weekend car for me, so any issues (if I were to have any) wouldn't be as big of a deal because they wouldn't have to be fixed asap. The car has had 0 issues since I've owned it, which is definitely comforting.

Quote:
Originally Posted by gatorfast View Post
Op thought you were selling your car?
I was, I mean I am. I'm dealing with one buyer right now who has sent me a deposit. I've been dealing with him for almost 2 months which seems like a crazy amount of time to wait for someone to buy a car. If this deal falls through, I decided I will just keep the M3.


Quote:
Originally Posted by socalm3lover View Post
OP, extended warranties are nothing more and nothing less than insurance against expensive repairs, should it need them. The M3s are very reliable cars, but when they break, they are generally very expensive. If you can afford $1,000s and don't mind spending it if they break, go for it. If you do not want to pay/cannot afford expensive repairs, buy the insuance. Obviously, the insurance companes make money for the service they provide, as they should.

I recently had a spindle replaced. Not sure how much it would have cost, but I am sure a couple of thousand with trouble shooting and replacing. I suspect I got about 1/2 of my premium returned. You are rolling the dice.

Good luck,

John
If you don't mind me asking John, what went wrong for that spindle to have to be replaced?


Quote:
Originally Posted by m3p40 View Post
Currently 46k Been out of warranty since 41k (4 years). I dont plan on buying an extended warranty. I take care of my car, and it has had 0 issues in the past 4 years.
Great to hear, we need more owners who respect and take care of their cars like babies! I know I do
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      02-08-2013, 01:58 PM   #15
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Quote:
Originally Posted by pbonsalb
Put the extended warranty money in your repair fund and self insure.
This.
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      02-08-2013, 03:04 PM   #16
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Quote:
Originally Posted by pbonsalb View Post
Put the extended warranty money in your repair fund and self insure.
agreed
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      02-08-2013, 05:01 PM   #17
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Quote:
Originally Posted by EndOfAnEra View Post
How's it going M3post. I'm trying to get some opinions on being over 50k without any type of warranty. I see people posting about rod bearings being worn, iacv's going bad, throttle solenoids going bad, coil packs failing, and other common issues. I know it doesnt happen to everyone but these seem to be the most popular. On the other hand I see people talking about being able to experiment with new and different oils, all types of mods, and other stuff like that. I'm just looking for opinions from people who are out of warranty about the pros and cons of being out of warranty and the risks also. I have an extended warranty just for the record.
I am at 56k+ now and in -10 to -20 weather and no issues at all. 2 inch drop too. I drive it a lot. Although it is CPO.
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      02-08-2013, 05:56 PM   #18
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depends how talented you are at fixing your own car. if you can do most of the repairs and just buy parts online, repairs are quite bearable.
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      02-08-2013, 06:57 PM   #19
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Quote:
Originally Posted by surlynkid View Post
depends how talented you are at fixing your own car. if you can do most of the repairs and just buy parts online, repairs are quite bearable.
ahhh very good point. on all of my previous cars I have always done all of the maintenance + mod installs. it would be the same for this car also, everything so far has been easy!
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      02-08-2013, 08:20 PM   #20
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50K was a couple of years ago for me. I'm just shy of 100K. Extended warranty would have been a waste for me.
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      02-08-2013, 11:35 PM   #21
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S65 is pretty reliable. I've been out of warranty a 10 months, but still under 50k. Not too worried. I usually keep my cars a full model run and sell at under 65k with not many issues.
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      02-09-2013, 01:16 PM   #22
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On a late generation model like the M3, I wouldn't.

I got one for my F30 because...it was offered to me by the dealership for $600 because they forgot to register my new vehicle warranty, LOL!

On a new model like the F30, it makes more sense since BMW is notorious for ironing out kinks and issues (car's been in the shop for 6 days so far)...on an M3, I would think you'd be fine.
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