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Extended warranties - worth it, or not?


Upsettah

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Upsettah

Ok, the day has finally come and the Bimmer is three years old (don't know where those three years went, but hey!), manufacturers warranty expires! Main dealer is bombing me with snail mail, e-mails and texts about a BARGAIN 12 month extended warranty which will cost about £300.

What are the chances that something covered by the original warranty will cack out on me during the next 12 months? Just to put things in context, the car hasn't been a bit of trouble so far, easily passed it's first MOT a few days ago and has a very low mileage - 15750 or thereabouts.

I'm not a petrolhead and not really a consumerist so any advice would be welcome from my betters here!

 

Edited by Upsettah
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nirvana

diesel or petrol? I presume petrol with that mileage

I'd probs run a mile from a second hand diesel bimmer cos they have dual mass flywheels, mega high pressure injectors, DPF blah blah blah

I'd have a B48 ie 2 litre turbo petrol with 250 brake + but I 'd never have an extended warranty cos if sumting went wrong i'd try and fix it myself or find a specialist ie ex main dealer mechanics who have set up on their own

didn't have u down as a Bloody Minded Wanker...though you'd be tootling around in a 2CV or old Pug :D

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Upsettah

It's petrol - and it's a Bad Man Wagon, and I've never owned a French motaah, yah cheeky sod! :D

I had no idea what a BMW 48 is, but a quick search says it's a Mini engine?! Christ!

Ok, So I'll put you down as a "Naw, don't bother with it", right?!

 

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Bear Hug
1 hour ago, Upsettah said:

It's petrol - and it's a Bad Man Wagon, and I've never owned a French motaah, yah cheeky sod! :D

I had no idea what a BMW 48 is, but a quick search says it's a Mini engine?! Christ!

Ok, So I'll put you down as a "Naw, don't bother with it", right?!

 

Is the warranty from BMW or third party? I have no view either way, just out of interest. 

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Upsettah

It's from BMW. I'm thinking right now that I'm probably good for another two years without anything going bang which would well exceed £300....but I'm open to persuasion if any fellow dosbodders have any horror stories etc 😐

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The XYY Man
6 hours ago, Upsettah said:

Ok, the day has finally come and the Bimmer is three years old

I've never heard that term before, and initially assumed that it was a New Zealand homosexual...

 

XYY

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Upsettah
38 minutes ago, The XYY Man said:

I've never heard that term before, and initially assumed that it was a New Zealand homosexual...

 

XYY

Eh? Oh, you mean a siddamite?!

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Snake Plissken

Its more down to your personal attitude to risk. Do you normally buy extended warranties on your TV or computer? I wouldn't buy a warranty on such a new car as chances are you have another 7-10 years or so before anything the warranty covers breaks. Things that definitely will need replacing like brakes, tyres, oil etc won't be covered.

 

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The Grey Man
4 minutes ago, Snake Plissken said:

Its more down to your personal attitude to risk. Do you normally buy extended warranties on your TV or computer? I wouldn't buy a warranty on such a new car as chances are you have another 7-10 years or so before anything the warranty covers breaks. Things that definitely will need replacing like brakes, tyres, oil etc won't be covered.

 

Stopped that crap years ago. The rule of fear.

Ok. If I had some high end issue I would or be forced, house insurance should it be burnt down.

Otherwise for me, a balance of how long left of product vs servicing.

 

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Upsettah

Yep, cheers for the advice chaps. 

Like most of you here I've never had an EW on any electricals ... just felt a little tempted by this one with the prospect of four figure repair bills!

But no, I slept on it and have decided to give it a miss!

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  • 3 weeks later...

Generally when you read the fine print, these warranties will state what they do not cover, and what they do not cover is most of the things that are likely to go wrong.

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Dave Beans
On 13/03/2022 at 08:09, Upsettah said:

Yep, cheers for the advice chaps. 

Like most of you here I've never had an EW on any electricals ... just felt a little tempted by this one with the prospect of four figure repair bills!

But no, I slept on it and have decided to give it a miss!

Is there a third party (non main dealer) option, that could potentially be cheaper?  For me, £300 quid does seem steep..

https://www.moneysupermarket.com/car-insurance/car-warranty/

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See if there are any common faults reported online, though likely anecdotal so doesn't mean it's actually that common, to get an idea of what others have had go wrong out of the norm.

Not sure if BMW parts fitted by a decent independent are reasonable but usually the more expensive the car the cheaper the warranty appears for peace of mind, but only proper manufacturer backed ones not third party toilet paper.

Though if the particular model has some serious known issues as the age and mileage creep up I expect any warranty cost will also be larger so ask if the warranty cost will rise sharply next year. Also check for excesses, they may have high enough ones you end up paying almost going price to fix one item if only one item goes wrong in the warranty year.

Personally I never bother with an extended warranty and so far have never suffered anything catastrophic in terms of the mechanicals, so even if/when it does happen it's like a speeding fine. A fair price for getting away with it the rest of the time. xD

Servicing regularly, and changing oil annualy even if manufacturer says longer term is fine, and not abusing the vehicle from cold and checking fluid levels and tyre pressures regularly means the thing will be as reliable as one can make it, and for most cars that's reliable enough to not break down or have an 'out of the blue' mechanical failure.

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King Penda
22 hours ago, Snark said:

Generally when you read the fine print, these warranties will state what they do not cover, and what they do not cover is most of the things that are likely to go wrong.

True I don’t bother

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