[peterg1965]

My 2010 X5 35d M Sport approved used warranty expires at the end of the month. My X5 has 24000 on the clock. The extended warranty price is £121 a month or just over £1300 for the year. Is it me, or is this just very expensive? I think a Porsche warranty is cheaper (for a used Porsche of course!).

I realise there are options; a voluntary excess and breakdown cover, and the price I have been quoted is zero XS, but still! This vindicates my decision to replace the X5 with a brand new SUV from another manufacturer which means I actually save money compared with keeping the X5 and taking the warranty. Just need to get a decent price for the X5.

[Kerr]

It is an insurance policy priced according to risk.

£1200 does sound a lot, but one major problem and that is £1200 gone.

The M cars seem to be about the same price and when I looked at 911s the warranty price was over £2k.

You've got two turbos and a DPF to worry about that the other cars don't.

Apparently the DPF is a bit dodgy concerning warranty though. It is deemed a serviceable part subject to wear and tear.

[misterS3]

Originally Posted by peterg1965

My 2010 X5 35d M Sport approved used warranty expires at the end of the month. My X5 has 24000 on the clock. The extended warranty price is £121 a month or just over £1300 for the year. Is it me, or is this just very expensive? I think a Porsche warranty is cheaper (for a used Porsche of course!).

I realise there are options; a voluntary excess and breakdown cover, and the price I have been quoted is zero XS, but still! This vindicates my decision to replace the X5 with a brand new SUV from another manufacturer which means I actually save money compared with keeping the X5 and taking the warranty. Just need to get a decent price for the X5.

I had the same thoughts last year and year before (nov 2010 x40d) I guess for piece of mind some people will pay it. Although i'd worry about them squirming out of paying like Kerr says.

What are you going for? I was going to change mine at 2 years but couldn't find anything i wanted to change to and accept the cost of changing. I will just keep it it till it dies.

[peterg1965]

Originally Posted by misterS3

I had the same thoughts last year and year before (nov 2010 x40d) I guess for piece of mind some people will pay it. Although i'd worry about them squirming out of paying like Kerr says.

What are you going for? I was going to change mine at 2 years but couldn't find anything i wanted to change to and accept the cost of changing. I will just keep it it till it dies.

It's being changed for a new LR Discovery SE Tech (the old XS spec). Got a decent discount and am awaiting a delivery date Probably not as luxurious as the X5 but a v capable machine having had a D3 a few years back.

I will reply to the 'Commonwealth Games' thread a bit later when I have some more time. I apologise if I used some inappropriate words (was not accusing you of being indecent!) but the whole debate does raise some strong opinions and feeling.....

[misterS3]

Originally Posted by peterg1965

It's being changed for a new LR Discovery SE Tech (the old XS spec). Got a decent discount and am awaiting a delivery date Probably not as luxurious as the X5 but a v capable machine having had a D3 a few years back.

I will reply to the 'Commonwealth Games' thread a bit later when I have some more time. I apologise if I used some inappropriate words (was not accusing you of being indecent!) but the whole debate does raise some strong opinions and feeling.....

Cool, i've actually gotten a wee bit bored of the comfort and bought a 306Gti 6 to give me some low speed thrills (When c/w with fat datsun)!!
Look forward to reading about it when you get it.

Och no worries. Better things to do on a Sunday. And nothing personal taken. I've had people hunt me down on LinkedIn and threaten me personally and my business because of this debate. So i've got thick skin about it. It's a shame when some take it too far (both sides - and not you!!).

It's good to have the debate. I think the more information is out there the better. (and i don't mean the Main Stream Media it's been woeful). If we make informed choices we tend to make good choices whether Yes or No.

[Russbmw]

It's because it's an X5. I think that's a similar price to what I looked up for the wife's e70 3.0d on an 07 plate.

My '09 335 petrol is £41 a month (drivetrain option)

[zltm089]

Fuck me that's expensive!!! Not sure how much the parts cost on an x5, or any known issues. But anything over a grand on warranty, I would think twice....

[Russbmw]

Originally Posted by zltm089

Fuck me that's expensive!!! Not sure how much the parts cost on an x5, or any known issues. But anything over a grand on warranty, I would think twice....

Parts = Mental

Known issues = the main one is they're practically impossible to work on yourself!

[dar2008]

I've never understood why the annual cost of the BMW extended warranty should be so high - it's just an insurance against risk.

My annual fully comp protected insuance policy for my 2008 E93 M3 is £340, which could conceivably have to pay out in the 100's of thousands depending on the circumstances of any accident / claim.

Yet when my M3 was 3years old, BMW quoted me £1200 a year to extend the warranty - yes, peace of mind, but it's just an insurance policy at the end of the day, that would never need to pay out in the 100's of thousands.

They also don't tailor the cost to the history of the vehicle (ie: previous warranty issues) or particularly low mileage drivers such as myself (<5k a year in the M).

So I didn't take the extended warranty, and so far I've "saved" about 3.6k in not doing so.

[Kerr]

Originally Posted by dar2008

I've never understood why the annual cost of the BMW extended warranty should be so high - it's just an insurance against risk.

My annual fully comp protected insuance policy for my 2008 E93 M3 is £340, which could conceivably have to pay out in the 100's of thousands depending on the circumstances of any accident / claim.

Yet when my M3 was 3years old, BMW quoted me £1200 a year to extend the warranty - yes, peace of mind, but it's just an insurance policy at the end of the day, that would never need to pay out in the 100's of thousands.

They also don't tailor the cost to the history of the vehicle (ie: previous warranty issues) or particularly low mileage drivers such as myself (<5k a year in the M).

So I didn't take the extended warranty, and so far I've "saved" about 3.6k in not doing so.

It does seem expensive, but it's all about risk. The potential of having a fault with your car is far greater than it being stolen or crashing.

I've been driving 18 years. I've had one stupid idiot hit the back of me when I was sitting stationary at traffic lights a few years back.

My car at the time needed a new rear bumper. By the time it was done and the hire car costs too, the claim was for £1400.

I've paid a fortune in car insurance over that time and only had a small fraction of that money back.

I've paid the extended warranty on my 335i for 3 years and only had one claim. The water pump failed and the seat belt handover was repaired at the same time.

The water pump is £450, I'm told 5 hours labour to do it(100+VAT per hour) and the seatbelt hand over was almost £100. So £1150 so far.

I was given a courtesy car that involved me not having to do the hard work. They brought the car to me and I dropped it off at the dealer. No cost hiring the car, taxing around, no time off work collecting, organising and dropping off the car.

The warranty cost also covers you for roadside assistance and breakdown cover. So it is fair to deduct that amount from the annual premium.

I couldn't afford to have my car off the road and the decent garages in Aberdeen are very busy. There would be little chance of having the car repaired in a few days.

The service when I broke down was very good.

If you add all the cost of the recovery, car hire and repairs I'm not far short of getting 3 years of my money back for one claim.

It also saved me the inconvenience of chasing around garages and hiring cars myself.

If I had to take time off work to do so, then I'd be more than out of pocket.

Only one fault every 3 years could see you break even on a 335i. Have turbo failure and the bill is nearly 10x annual renewal.

It is a game of risk and people will pay in more than others take out. That's how insurance works. Some will get value and others won't need to claim a penny back..

[gIzzE]

I think that with the X5 there are so many used parts now that warranty at that price is pointless, it is expensive as BMWs costs are too high.
They may well charge £8000 for a new gearbox to be fitted, but you can have it reconditioned in a day for £1000 if it fails.
Water pump can be had for £280 and it is around £200 fitting with an indy.

Save the money and buy a decent code reader so if anything does crop up you are not throwing money at guesses I reckon.

[MrPogle]

Originally Posted by Kerr

It is a game of risk and people will pay in more than others take out. That's how insurance works. Some will get value and others won't need to claim a penny back..

+1

People should remember that insurance is not about how much you put in vs how much you get out at the margins. It's about sleeping well and reducing hassle if bad things happen. You are buying peace of mind and a potential service, not opening a savings account.

Peace of mind and hassle-reduction have different values to different people so one person's cheap premium is someone-else's rip-off. To some people a 3K bill out of the blue is annoying and to others it means cancelling the family holiday but they still pay the same premium.

[Mani59]

Originally Posted by MrPogle

+1

People should remember that insurance is not about how much you put in vs how much you get out at the margins. It's about sleeping well and reducing hassle if bad things happen. You are buying peace of mind and a potential service, not opening a savings account.

Peace of mind and hassle-reduction have different values to different people so one person's cheap premium is someone-else's rip-off. To some people a 3K bill out of the blue is annoying and to others it means cancelling the family holiday but they still pay the same premium.

Exactly right...that's why I am more than likely going to extend mine at £49 per/month, which to me does sound expensive, but it's piece of mind if something does go wrong.

[peterg1965]

Well, I didn't replace the warranty and it ran out yesterday. I have circa two months before the Land Rover Discovery is delivered.

[rogerxp]

I've got everything crossed for you ;-)

[peterg1965]

Originally Posted by rogerxp

I've got everything crossed for you ;-)

Cheers Rog.....I like living dangerously...