After Market Warranty

zyounis

Hi Everyone,

I'm looking to take out after market warranty for my BMW 520D 5 year old car.

I've heard a lot about warranty companies not accepting claims etc. and I'm getting really confused as to take out a warranty or save up in case something goes wrong with the car.

All opinions and suggestions welcome.

Nobbie1967

If you can afford to get it repaired if it breaks, then don't bother getting a warranty. As you say, too many cases of warranty companies refusing to payout due to various exclusions such as wear and tear leading to a big fight to get a payout and having to jump through all sort of hoops such as sending away parts for "inspection". Better to just self insure and put a similar amount away each month as a maintenance fund.

zyounis

Nobbie1967 wrote: »

If you can afford to get it repaired if it breaks, then don't bother getting a warranty. As you say, too many cases of warranty companies refusing to payout due to various exclusions such as wear and tear leading to a big fight to get a payout and having to jump through all sort of hoops such as sending away parts for "inspection". Better to just self insure and put a similar amount away each month as a maintenance fund.

I was thinking of saving money on the side but parts can be quite easy enough expensive e.g. Timing chain could set back 2k I can't save that kind of money for that and cover normal wear tear as well hence why I was thinking an extended warranty for the bigger mechanical jobs.

Mercdriver

zyounis wrote: »

I was thinking of saving money on the side but parts can be quite easy enough expensive e.g. Timing chain could set back 2k I can't save that kind of money for that and cover normal wear tear as well hence why I was thinking an extended warranty for the bigger mechanical jobs.

So your question isn't really whether to take out a warranty or not, but which warranty company to take one out with.

if you ask such an open ended question as the one you have put it will descend into the normal bickering. It'll probably still head that way, but best to ask the right question.

I don't know which warranty company is best, but others no doubt will.

Fat_Walt

You'd be best off putting money aside as most warranties will exclude wear and tear.

Has the car got a full bmw service have story?

If it has keep it up as you may get some goodwill if you face a problem.

Richard53

Read any small print very carefully. Most will exclude wear and tear, and almost anything can be described as wear and tear if you put your mind to it. Or consequential losses - a major component breaks, but as it was caused by the failure of a smaller component, and that failure was wear and tear, it's not covered. Check any conditions: the last car warranty I paid for stipulated that the car had to have an oil service every 1000 miles *at a garage approved by the warranty company*. As I was doing almost that mileage every week at the time, I didn't bother and let it lapse, and put it down to experience.


I now put a certain amount into a 'car fund' at the beginning of the month, and have a nice little nest egg which will more than cover any major expenditure that is likely to occur.

mr_accountant

The general consensus on this forum is that aftermarket warranties are useful as toilet paper, although I have never purchase one myself take from that what you will

forgotmyname

I wouldn't wipe my bum on one, hamster bedding for a particulary vicious and obnoxious hamster maybe.

If it needs a new timing chain then how difficult will it be to argue that it is not wear and tear? And dont forget a noisy chain is not a failure. Thats wear and tear your job to sort before it fails.

If a cars expensive when new then the bills can be equally so even when its a fraction of the new price. A £2k bill on a £40k car maybe steep but a £2k bill on a £3k car is it viable?

Take the warranty money and buy a workshop manual and some tools.

Shimrod

Have you priced up the BMW warranties? http://www.bmw.co.uk/en_GB/topics/financial-services/bmw-insurance/bmwinsurance.html#insuredwarranty
I think they are expensive (and I've never bought one), but it's probably the route to go if you want as much peace of mind as you can get - if you have a full service history and you meet the mileage criteria. Some of the warranties will cover wear and tear on certain items up to 100,000 miles.

Nobbie1967

zyounis wrote: »

I was thinking of saving money on the side but parts can be quite easy enough expensive e.g. Timing chain could set back 2k I can't save that kind of money for that and cover normal wear tear as well hence why I was thinking an extended warranty for the bigger mechanical jobs.

If the "bigger mechanical jobs" such as a timing belt change are part of routine maintenance then the warranty won't cover them, so if you can't afford to cover them from saving then it sounds like you can't afford to run that particular car.

Here is a useful guide on warranties from Warranty Direct which seems to be a bit more comprehensive than most in what it covers.

https://www.warrantydirect.co.uk/pdfs/WD_Warranty_Guide_2016.pdf

Iceweasel

Shimrod wrote: »

Have you priced up the BMW warranties? http://www.bmw.co.uk/en_GB/topics/financial-services/bmw-insurance/bmwinsurance.html#insuredwarranty
I think they are expensive (and I've never bought one), but it's probably the route to go if you want as much peace of mind as you can get - if you have a full service history and you meet the mileage criteria. Some of the warranties will cover wear and tear on certain items up to 100,000 miles.

The BMW warranty is the only one worth having for a BMW.

Lots of options as to what to cover.

If you pay monthly although a tad more expensive initially over the annual payment - it stays at the same premium as the years roll by i.e. they do NOT increase the premium (although there is no cast iron guarantee of that)

I had the full coverage including the breakdown service - it's 2nd to none. The whole warranty is valid Europe wide so you can forget about the AA, RAC or even the ADAC. Any BMW dealer can handle any repairs needed and there are no bills for you to claim back like with some other warranty companies.

If you have full BMW service history, and the mileage is under 100K at the start, you are in for good - no matter how high the mileage mounts up.

If the mileage is under 50K you will get the lowest premium and as I said it doesn't increase.

The price depends on the exact model as well as the mileage at inception - some bigger BMWs with complicated air suspension for example have high premiums.

With an N47 engine the peace of mind a BMW warranty gives is well worth it.

I suggest you ask about warranties on an independent BMW drivers' forum for the members experiences and decide from that.

A good friendly one is:

http://www.bmwlander.co.uk/index.php?forums/

other BMW enthusiast forums are available.