Extended warranty renewal

Discussion in 'General chat' started by edthefed, May 29, 2021.

  1. edthefed
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    edthefed

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    Last year i opted for the comprehensive cover / £250 excess, as it saved over £200 against paying monthly.
    I was aware that the monthly premiums do not tend to change until 60,000 miles, but not sure what would happen with annual premiums...

    Renewal letter has just come through...annual premium remains the same as last year
     
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  2. mach one
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    mach one WARLORD

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    that sounds like good news l would be happy with that. l would not run a newish BMW without an extended/insured warranty
     
  3. mystic sport
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    mystic sport

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    Same as, just paid mine and was the same as last year. I am at a crossroads now, if I keep it then I will go monthly from next year and I really want to keep it (and that is the intention) - but the F90 comp is a constant thought.
     
  4. aldo
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    aldo

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    So have you gone over the 60k yet and it’s stayed the same?

    I’m at 58k something and renewal is in October. Will deffo go over it but will be having the same debate.


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  5. jwilalex
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    jwilalex

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    I’ve had monthly extended warranty since it’s establishment in Jan 14 and it originally started at £36 per month. As of last payment it’s at £48 per month now, but I’ve had double my “consolidated paid” money back over the years in warranty work (the last being 2 x new Vanos hubs and 4 x injectors with a chain tensioner for good measure thrown in during Dec 19 (108k miles). That alone with dealer labour costs over the course of few days nudged £3k alone… but only £100 excess to pay for me ). Car is a 2009 with current 113k mileage and as long as that DD gets paid each month the warranty just plods on and keeps me covered.

    As others have said I wouldn’t run any car to be honest without some form of warranty covering it as bills can escalate at an alarming rate :eek:.
     
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  6. mystic sport
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    mystic sport

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    No, I am just about to hit 34k but it is more the convenience of monthlies. If I keep the car then it will stay for a good while as I just can't think of anything that gives the same experience for similar money. My problem is that every may means car tax at £580, service at (I think) approx £900 next year and the warranty so monthly will offset a rather hard financial hit lol.
     
  7. Singvogel
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    Singvogel Staff Member Moderator WARLORD Site Supporter

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    I made those same calculations last year, knowing that even with a Covid mileage reduction, I would exceed the magic figure of 60K by renewal this year.

    Projecting into the future (not just next year) there was only a saving for me if I was to change to monthly and then keep the car for more than 3 years,

    So I renewed for a year in the full knowledge that next year it will cost me more, and still breaking even the next year.

    The next milestone is at 100K and if you intend keeping your car past 100K you need to be on monthly payments if you want to have the comprehensive cover which apparently cannot be renewed on a yearly basis.
     
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  8. aldo
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    aldo

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    58,200 is my mileage, just checked. Will get to 59,000 by July and then august summer trip will push it over 60k so it will be interesting to see what it’s done!

    They don’t ask for proof of mileage so I wonder if I’d get away with having done 59,800 come renewal time


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  9. Peter
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    Peter WARLORD

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    If you just go over the limit, talk with them... I did last year, having just gone over the 60k miles. Got the policy at pre 60K price.

    Posted my experience here...

    Extended Warranty Renewals | BMWLand

    Peter
     
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  10. aldo
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    aldo

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    Cheers Peter will take a look. I will also consider some 3rd part companies but prefer to keep to the BMW one as usually easier to settle the claim.


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  11. jwilalex
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    jwilalex

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    As posted in the “which warranty” thread, and further to my original reply:

    I’m biased as I have BMW extended warranty but I can’t fault it in an way having plenty use over the years. And the perfect and timely example…I put the car in to get a slightly warmer than the others OSR wheel checked this morning and got a call just before lunch. Short conversation…. “your calliper is binding, warranty has approved replacement, that will be delivered and replaced this afternoon, do you mind collecting after 4pm when it will be finished?” Hmmm let me consider that :whistle::cool::rolleyes:..I’ll see you after 4 thanks.

    Car 2009
    Mileage 113k
    Total cost of repair £481
    Cost to me £100
    Savings £381 or roughly 8 months worth of monthly payment

    But the most important part I think is the complete lack of hassle, 3rd party fighting or stressful arguing trying to get something simple approved.
     
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  12. idrussell
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    idrussell Site Supporter

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    Cant believe I have had my 'new' 2018 640d for almost a year but the extended warranty letter arrived yesterday..

    On my previous 530i and 640d I ran the warranty monthly and certainly with the 5 series it more than paid for itself. On my current car though I am in a bit of a dilemma. On my previous two cars I had a lot of issues in the first year of ownership so the extended warranty seemed a no brainer but with my current car I have had zero issues in the last 11 months, the car had a 'health check' at BMW last week which only raised one of the rear tyres being 4.3mm.. The car has done 9000 miles in my ownership and has just reached 20K miles.

    Figure is £863 with £100 excess or £92 per month, or £678 with £250 excess or £73 per month.
    So part of me thinks don't bother but I know it probably only takes one fault a year to pay for itself.
    And in regards to paying for the year it would seem to make sense to not do monthly as I am unlikely to sell and a long way from 60K miles.. Can anyone who has paid yearly confirm if the policy price stays broadly the same year on year before you hit the 60K miles?

    We have run both my wife's F21 1 series without warranty when past 3 years old with zero issues but the F06 is rather more complex and has a lot of options so will probably go for the policy with £250 excess just in case..
     
  13. aldo
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    aldo

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    Can’t help year on year cost as eager to see what mine will be as will hit 60 very soon.

    I’m hoping they’ll negotiate if it does ramp up and vaguely remember someone posting on here that was able to negotiate.

    I’ll deffo have warranty in place for piece of mind, if I was you I’d be doing the 250 excess option based on the behaviour of the car so far


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  14. edthefed
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    edthefed

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    I decided to pay annually owing to the cost saving

    Renewed last month...exactly the same price as last year.

    Although "because Covid" the mileage did not increase that much

    With labour rates of about £150 per hour, and initial diagnostics over £100 the costs can soon mount up
     
  15. 535i MSport
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    535i MSport WARLORD

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    I just renewed my wife’s M3 warranty. £793 comprehensive with £250 excess and no recovery.

    I only have it as a safety net in case something major happened, as unlikely as that may be with the mileage it does.


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  16. Singvogel
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    Singvogel Staff Member Moderator WARLORD Site Supporter

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    My extended warranty paid out over £1300 - for just one adaptive LED headlight. :eek:
     
  17. Peter
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    Peter WARLORD

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    I pay annually and have had the same cost for 3-years. Including just going over 60,000 miles, where talking with the guys did get the 'below' 60,000 miles figure for another year. Reminded me that next time, (if I still have the car), it will be the 'above' 60,000 miles cost.

    Peter
     
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  18. idrussell
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    idrussell Site Supporter

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    Thanks for the replies guys, just reinforced my thoughts. Will pay for a year with the £250 excess for peace of mind.. with options like Adaptive LED headlights and surround view the potential for large bills could arise!
     
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  19. a.s.uk
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    a.s.uk WARLORD

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    Just to put your mind to rest
    Apart from EGR recall, twice..!!
    Our 640d did around 76k with no issues and no extended warranty…
    It didn’t have any fancy gizmology though…. Standard suspension. No HUD, no self driving, and no adaptive headlights…. So I was pretty cool with all of that….
    My mates 3.0d 530 has just gone passed 280k…. Obviously with no warranty in place…


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  20. idrussell
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    idrussell Site Supporter

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    Thanks:). My previous 640d which I think was a similar age to yours had its EGR replaced 3 times the first of which was before the recall and would have been at my cost without the warranty. After the AUC on that car ran out BMW actually gave me an additional years warranty with zero excess FOC because I had had so many problems in my first year of ownership and none of those problems were related to the additional options it had apart from comfort access handles..
    Thankfully the 2018 640d has been faultless and also its EGR has been checked and passed as fine but will still probably go for the cheapest extended warranty with breakdown just in case the worst should happen..
     

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