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F10 / F11 (2011 - Current)
The new chapter in the highly successful story of the BMW 5 Series Sedan (F10) and wagon (F11)

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  #1  
Old 07-14-2014, 08:52 AM
PsychDoc1 PsychDoc1 is offline
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Thoughts About Going Warranty-less After 50,000

I'm thinking I'd like to keep this car for another 2-3 years and I'll soon be coming up on 50,000 miles. I have considered getting an extended warranty either from BMW or from a third party company. Prices for a 100k/6 year "platinum" plan covering everything with a $50 deductible per covered service range from $3700 to about $4500. I figure in that pricetag there's a healthy profit both for the particular dealership offering it as well as for BMW corporate. I'd be surprised if the actual loss ratio is even 50% of what they charge. My car has been completely without problems and trouble free. Right now I'm inclined to forgo any extended warraties and just self insure and take my chances.

Any of you who own your cars and are either past 50k or coming up to it have any thoughts?
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  #2  
Old 07-14-2014, 09:03 AM
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WillInDenver WillInDenver is online now
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I drove my last two BMWs to 90,000 miles without buying an extended warranty. Neither one gave me any significant trouble. The (older) E53 X5 used to blow through O2 sensors at an alarming rate, but that was about it. The more recent E60 5 series was frankly pretty bulletproof, although I did have a few of the notorious issues on those addressed before the CPO ran out. Maybe I got lucky.

What I would not do is buy a BMW close to the lapse of the warranty and try to push it down the road without really knowing much about it. But if you had the car from new, or even bought it with low mileage and have had it a while, you probably have a sense as to how it will go for you.

My advice is to find an indie you trust and use him consistently enough that he comes to know your car. When I drove by mine last fall in my new F10 535, he told me more or less that he thought I was a moron for letting my E60 go, whereas the same guy once told me that he never wanted to see my Audi allroad again; that I should trade it in without even going home first.

99% of the time, keeping your car to 100K miles will cost you thousands and thousands of dollars less than buying a new one, even if you do have a few maintenance events.

Enjoy.
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  #3  
Old 07-14-2014, 10:45 AM
n1das n1das is offline
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Quote:
Originally Posted by WillInDenver View Post
I drove my last two BMWs to 90,000 miles without buying an extended warranty. Neither one gave me any significant trouble. The (older) E53 X5 used to blow through O2 sensors at an alarming rate, but that was about it. The more recent E60 5 series was frankly pretty bulletproof, although I did have a few of the notorious issues on those addressed before the CPO ran out. Maybe I got lucky.

What I would not do is buy a BMW close to the lapse of the warranty and try to push it down the road without really knowing much about it. But if you had the car from new, or even bought it with low mileage and have had it a while, you probably have a sense as to how it will go for you.

My advice is to find an indie you trust and use him consistently enough that he comes to know your car. When I drove by mine last fall in my new F10 535, he told me more or less that he thought I was a moron for letting my E60 go, whereas the same guy once told me that he never wanted to see my Audi allroad again; that I should trade it in without even going home first.

99% of the time, keeping your car to 100K miles will cost you thousands and thousands of dollars less than buying a new one, even if you do have a few maintenance events.

Enjoy.
50k miles is slightly less than a year of driving for me. 100k miles is around 2 years. I also only drive DIESEL vehicles.

My 2002 VW Golf TDI (diesel) only had 361k miles on it when I sold it to a coworker in 2010 (son needed a car for college). The car is still on the road today with close to 400k miles on it and still going strong.

I'm not afraid of keeping a car well past warranty. I do the routine maintenance myself, use only OEM fluids and filters, and go to a good independent mechanic for major stuff when the need arises.

Good luck.
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  #4  
Old 07-14-2014, 11:00 AM
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BobRBob BobRBob is offline
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It's a tough call. I've purchased extended warranties on two cars and got next to nothing out of them as both cars were pretty much problem free throughout the extended period. The problems came later. Problem is that BMW repairs can be very, VERY expensive so the risk is a considerable one, even if the odds are in your favor. My current thinking is to roll the car over before the factory warranty expires so there's never any exposure. Costs more but you're always protected and always in a near new car.
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  #5  
Old 07-14-2014, 11:03 AM
Sophisto Sophisto is offline
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I drove two 5 series over 200k kms.
No real problems that would have saved any money by an extended waranty.
The sunroof on year three of the E61 costed me, after quite some haggling, 1200 euro at the stealer.
Allthough a design fault or maintenance problem, BMW would not replace the whole contraption for free.
Other warranty issues were in the first years of ownership or under 100 euro.
But for the radio receiver antenna enhancer, around 250 euro I believe I paid for that.
Tires, oil, brakes are items not in these figures, like the fuel, wipers, washes, mats, sw upgrades and speeding fines.

Last edited by Sophisto; 07-14-2014 at 11:18 AM.
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  #6  
Old 07-14-2014, 05:24 PM
RR535 RR535 is offline
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I'm in the same boat as PsychDoc1. I'm at 48,000 but leaning toward not getting an extended warranty. My thinking is that I purchased a well made automobile that should last to at least 100,000 miles. Should anything go wrong, I have $4200.00 to put towards it.
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  #7  
Old 07-14-2014, 06:20 PM
clem151 clem151 is offline
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It's like playing blackjack at the casino. The odds are in favor of the dealer, they aren't selling you warranties to help you. They are selling them because odds are, they will make money.
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  #8  
Old 07-14-2014, 07:13 PM
DrFlsgood DrFlsgood is offline
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Originally Posted by clem151 View Post
It's like playing blackjack at the casino. The odds are in favor of the dealer, they aren't selling you warranties to help you. They are selling them because odds are, they will make money.
Had a 335XI 2007, before it got totaled loss from a hail storm. 2Yrs OOW (out of Warranty) had Water pump go, a Xenon headlight control unit and Brake sensor issues total outlay for repairs was close to 3K. I decided to get the extended BMW warranty on the 535XI because of the electronics and I plan to keep the car. Warranty covers me to 2020/100,000 miles.

Yes, its a gamble, but I have peace of mind knowing a repair will cost me a $50.00 deductible vs a 1,000 + repair bill. Any major repair will go well over 1,000.


The extended maintenance charge is another story. But that will come later. (average is about a 5-6 hundred $ savings if paid up front...however maintenance costs like brakes, oil changes and 60K service are normal maintenance issues.
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  #9  
Old 07-14-2014, 07:30 PM
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WillInDenver WillInDenver is online now
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Quote:
Originally Posted by DrFlsgood View Post
Had a 335XI 2007, before it got totaled loss from a hail storm. 2Yrs OOW (out of Warranty) had Water pump go, a Xenon headlight control unit and Brake sensor issues total outlay for repairs was close to 3K. I decided to get the extended BMW warranty on the 535XI because of the electronics and I plan to keep the car. Warranty covers me to 2020/100,000 miles.
You're an insurance salesman or a great customer. You can't point to an event in the past as justification for insurance coverage in the future. It breaks the whole model.

But - glad to hear your expenses got covered.


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  #10  
Old 07-14-2014, 09:36 PM
CGP CGP is offline
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Originally Posted by WillInDenver View Post
You can't point to an event in the past as justification for insurance coverage in the future.
LOL this is so true but man it helps to rationalize your actions every time you get insurance! Against my better judgement, I bought tire insurance because of all the forum postings and magazine articles on the problems with F10 tires and rims. Never had a problem - yet.
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  #11  
Old 07-14-2014, 09:47 PM
DrFlsgood DrFlsgood is offline
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Not an insurance salesman, but I like to cover my ass.( ..ETS) The potholes here in Pa are a bitch too, and there is one customer at the dealership I go to, who went through four sets of tires and rims driving into NYC for weekends. The BMW has no $$limit, and Mercedes tops out at 4500.

For some tire/wheel insurance is good, on my 335XI I had the two wheels on the passenger side dented from the same pothole, an was getting ready to have them repaired when the hail storm hit in May. That would have been an out of pocket expense...

By the way, the 535XI M Sport is my third BMW. The Germans know how to play soccer, and make one hell of a car.

Glad you qualified that statement with a "...YET"

LOL

Last edited by DrFlsgood; 07-14-2014 at 09:48 PM.
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  #12  
Old 07-14-2014, 10:26 PM
RobbyMack RobbyMack is offline
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My $0.02 if you've owned the car since new and given you no problems so far the actual risk of catastrophic problems where a warrantee would be worth it's weight in gold is really very minimal. If, on the other hand, it gives you peace of mind, then do it.
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  #13  
Old 07-14-2014, 10:33 PM
DrFlsgood DrFlsgood is offline
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Yes, the peace of mind is why I bought it.

It seems that all the cars I've owned, (10years average time keeping them) one major thing would go wrong just "after" warranty. That's why I got the extra coverage on the F10. and I plan on keeping it even after the extended warranty goes...
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  #14  
Old 07-15-2014, 12:21 AM
schnell525 schnell525 is offline
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If you have a relatively trouble free BMW, and have been the original owner, and know the background and service history, then you may want to keep it. If it has been problematic, then I would definitely not keep the car (BMW or otherwise) past warranty.

Chances are if you shop and get a good price on an extended warranty it will pay for itself. The less complicated the car, the more likely I would be to keep.
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Last edited by schnell525; 07-15-2014 at 12:46 AM.
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