Extended warranties

Rotty

Rotty

Rotty

Don
Joined
18 Oct 2002
Posts
42,097
Location
Notts
are they all as crap as most people say

I would like to take the BMW extended warranty when I get the M3 but it is 4 weeks out of the normal warranty so they probably won't let me

The supplying dealer has one but it has a £1000 per claim limit

are there any good 3rd party warranties about ?
 
Rotty said:
are they all as crap as most people say

I would like to take the BMW extended warranty when I get the M3 but it is 4 weeks out of the normal warranty so they probably won't let me

The supplying dealer has one but it has a £1000 per claim limit

are there any good 3rd party warranties about ?
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Yes, imo there are, but, BMW's warranty is what I'd be looking for.

Are you sure they won't let you extend it? Iirc, my Dads e39 528i was covered by his BMW warranty (which he kept re-newing) for 5 years! Ironically, in that time he did'nt need it! But, it is there for something to fall back on should something major fail and Sods law, if you don't buy one, you'll need it!

I paid ,imo, over the odds for my 728i, getting it from a dealer with a warranty and (touch wood!) I've not needed to make any kind of claim, but had I not bought it that way, with my luck, it would have bankrupted me by now. :o
 
I haven't tried yet but the terms basically say that it must never have been out of warranty ( original or extended ) so technically I don't qualify as it has been out for 5 or 6 weeks ( in my favour is that the current registered keeper is BMW financial services )

the other downside is that it is £1050 a year with a £250 per claim excess
 
So say you claim once every 2 years it's going to cost you £2350 per claim.

Do you think that offers good value for money?

I am not familiar with BMW running costs but always thought they were quite reliable.
 
Extended car warranty is a bit of a lottery IMO. I personally wouldn't touch them as I've seen Ford, Toyota and Nissan all wrangle their ways out of paying out for repairs with extended warranty schemes.

One guy had to shell out best part of 2 grand after he tried to claim on an extended warranty scheme. In all my life, I've never seen a company apply so much red tape, and conniving, devious tactics and scheming as this warranty company did to dodge paying the customers bill. I felt sorry for him actually, as they even back charged him their paper work and time, and TBH, I actually felt the claim was valid. Very nasty people, very nasty indeed. Even threatened to take legal action against him for trying to make a false claim.

Ford are also VERY bad at paying out for body repairs, one customer actually took Ford to court over a car that corroded around the rear quarter panels. Quite rightfully so as well IMO. Told him it was normal, and he hadn't protected the paintwork correctly, and it had a stonechip that caused the corrosion.

Ford even managed to wrangle their way out of paying for driveshaft replacement for one customer, EVEN though the problem was in one of their own TB documents. Told the customer is was water ingress, and they wouldn’t pay as the oil had dried up. Hmm…

IMO, extended warranty is a waste of money, and I never buy them. Honda were good to me when I brought my car, but I had to tell them to shut up about extended warranty, other warranty schemes, insurance etc more then once. I have no idea how much commission they earn from these schemes, but the fact they do all they can to sell them, it must be profitable.
 
BMW definately will not allow you to 'renew' your warranty if it's even a day overdue, and they recently changed the prices and terms (including the excess) to try and make even less people take them up on it.

A good third party warranty is actually better value now than the BMW one IMO, you usually have to pay diagnosis charges, but there won't be a 250quid excess, and it will cost 4-500 for a decent one (with a decent per claim limit of 5000+), rather than well over a grand for the BMW one.
 
can anyone recommend a third party warranty ( one that pays up when it should do ) , I hear so many horror stories about them worming out of everything
 
Rotty said:
the other downside is that it is £1050 a year with a £250 per claim excess
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Sounds like easy money for BMW then. At 1k maximum claim then you'd need to have 2 big failures within a year just get your moneys worth out of it. Considering it's not exactly an old banger I just can't see any justification for it, you'd be better off just putting the £1050 to one side and using it to pay for repairs as and when they're needed.
 
kaiowas said:
Sounds like easy money for BMW then. At 1k maximum claim then you'd need to have 2 big failures within a year just get your moneys worth out of it. Considering it's not exactly an old banger I just can't see any justification for it, you'd be better off just putting the £1050 to one side and using it to pay for repairs as and when they're needed.
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I couldn't agree more. Honda wanted about the same type of money. For extending my warranty, they have in fact just sent me a reminder as the standard from new 3 year warranty is nearly up, as it's due in April, and I won't be buying it.

I'd be better of putting the money into a savings account and sit on it.. If something happens I'll pay out of my own pocket, and not run the risk of giving another company a grand, to only then run the risk I might not get the £700 (example) warranty repair honoured anyhow...

Insurances, warranty schemes are IMO just a waste of money. But this is my view, whereas others might feel that offer value for money.. I just don't see it that way.
 
When I bought my Renault Megane brand new I knew I would be keeping it for 4 years.
This is how long it was going to take me to pay off the finance etc.

At the time of purchase I was offered an extended warranty so that I'd be covered for the whole of the four years I planned on having the car.
The warranty covered all the usual items and of course didn't cover the "wear and tear" ones.
However the main reason I took it was the price wasn't that bad and it also extended the 1yr RAC cover that came with the car for the 4 years too.
The extended warranty did of course cost more than 3yrs RAC full coverage but not that much more.

After 3.5yrs rather surprisingly the PAS pump failed on the Megane.
Fearing the worst I took it into the dealership was quoted silly amounts to fit a new one and then found it was actually covered by the warranty.
With the RAC membership and that repair alone I think I made my money back.
 
heh heh talking about wear and tear, I have scammed ford out of new pads and disks recently :D
The disks became warped which is most likely to people slamming the breaks on when it was a fleet/Rental car.

I acted dumb and the mechanic replaced it free of charge
 
Right , I'm down to 2 options now and have to decide by tomorrow , could I have a quick show of hands for one or the other

A - 3 months warranty , £1000 per claim limit - this is free

B - 12 months warranty - £5000 per claim limit - £500 for the year
 
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