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E60 (2004 - 2010)
BMW 5-Series (E60 chassis) was first seen in the Unites States in the fall of 2003 with a 2004 Model Year designation. The E60 is now available as a 528i, 528xi, 535i, 535xi, 550i and a 535xi sports wagon! -- View the E60 Wiki

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  #1  
Old 08-03-2011, 11:25 PM
vbcgy vbcgy is offline
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Location: British Columbia
 
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Mein Auto: 2008 528i
Need advice on Extended Warranty purchase

Hi, I am in the process of finalizing a purchase for a 2008 528i with 81,000km. (KM conversion for my American friends 81k km = 50,331 miles)

The mfg warranty just expired at 80,000km and I am in the position where I need to decide if I should purchased extended warranty.

The deal is $3k for two years 40,000km bumper to bumper through SAL Protection Program Canada.

I had the car maintenance history pulled and there are no historical issues, only regular scheduled maintenance. I had a full inspection done on the car and it came out clean.
I know the car has a decent amount of KM's on it...but it is only 3yrs old.

I had one opinion that I should leave my money in the bank and just focus on regular maintenance on the car.

Any other thoughts?

Here is a pic of my new ride. Needs some window tint and some TLC.
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Last edited by vbcgy; 08-03-2011 at 11:36 PM.
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  #2  
Old 08-04-2011, 10:48 AM
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heffdiddy heffdiddy is offline
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Mein Auto: 550i; 335i Sedan
i would definitely get the extended warranty. one big fix and you could easily spend $3k. not sure if there are as many issues with the 528 though. i know one visit with my 545 came to around $5k or more, dont really remember now but i know it was at least that much. luckily i had the extended warranty and they paid for all of it. probably a rare instance but just letting you know what can happen.

if you are looking at the extended warranty i would try to get one that matches your expected miles for the duration you plan to keep the car. if you are only going to keep the car two years you would be fine but might as well spend a little more to get the warranty to 100k total miles.
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  #3  
Old 08-04-2011, 10:56 AM
vbcgy vbcgy is offline
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I am so conflicted with this... you raise good points.
I need a fortune teller! lol
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  #4  
Old 08-04-2011, 11:10 AM
Porando Porando is offline
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Mein Auto: 2011 335i, 2004 X5 4.4L
And I would not. This is the biggest item dealers try to sell - why ? Because they make lots of money on it... and it is easy to scare people.

Matter of personal preference. Warranty is nothing else but insurance...
I pay $1500/year for home insurance but Home is worth MILLION so my annual rate is 0.15% of the insured value... In case of car you paying $3k on (dealer will tell you $30k car value but that is BS as you only insuring "guts" and biggest value is maybe engine so you paying 30%??? Ripoff to me.

If probability is lets say 50/50 that something big will fail (transmission - ~$7k, engine ~$10k etc) than you should consider paying 30% to 200% up front.

Sure there will be problems...like transmission - Mechatronics if fails will cost you less than $3k with labor....

Much better idea would be not buy that car if you are quite certain that it will cost you BIG buck to fix big things

In reality probability is much lower so $3k is way too much in my logic. I can take this risk (self insurance) and do not pay for it hoping that nothing big will happen... but you may rather pay up front and hope that big thing fails (otherwise you will feel cheated... hehehe)

Been buying used BMWs for many many years and never bough aftermarket insurance - and never regretted

But... that is me.
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  #5  
Old 08-04-2011, 11:22 AM
TMQ TMQ is offline
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Mein Auto: 2008 528i
It's only worth it if you drive a lot - a lot means almost maxing out the miles part of the warranty. here the extended warranty is for 2 extra years and up to the 100,000 mile mark. very very few people drive another 50K miles in 2 years.

Just make sure you do proper fluid changes (transmission, differential, brake, coolant) near 60K miles. (do the conversion for km)

Not much you can do for electronics. If you don't drive much or drive short trips only, get a battery tender and charge the battery regularly.
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  #6  
Old 08-04-2011, 11:43 AM
vbcgy vbcgy is offline
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Location: British Columbia
 
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Hi, I would put an average of 15K miles on the car a year. So not that much really.
I called the dealer and can buy the warranty anytime. So, i am going to rely on the history, inspection and my experience with previous BMW's. That means take a chance and live without warranty.
If I have too many sleepless nights I can always purchase it afterwards. ;-)

Thanks for all the info!
Cheers
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  #7  
Old 08-04-2011, 12:21 PM
tiger16 tiger16 is offline
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Smile

My 2008 528i warranty expires one year from now. I will not purchase the extended warranty. I would find yourself an independent mechanic that you trust and take your car there for serivce. Good Luck.
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  #8  
Old 03-22-2013, 05:12 PM
bmw manitoba bmw manitoba is offline
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Location: winnipeg
 
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Mein Auto: 7 series
Sal group is a very bad warranty provider, spent a great deal of money on my car warranty and it does not cover a key component that makes the car street legal. They say because the component is not listed which is true, but there are many more components that are not listed that would be essential for the car to function legally. I would exercise caution when buying a warranty from these people especially for BMW's
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