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      05-11-2019, 10:35 AM   #1
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2014 650i xdrive gran coupe - thoughts?

Looking to buy a 650i xdrive gran coupe with ~50k miles. Everyone has warned me to steer clear of bimmers because of the maintenance costs but damn is that a good looking car. Thoughts? And what is everyone's take on extended warranty? Worth it? Go thru 3rd party or thru bmw? Please help. Cheers!
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      05-11-2019, 10:52 AM   #2
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Don’t buy the extended warranty. Just put some money aside in case repairs come up. Have a pre purchase inspection performed before buying.
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      05-11-2019, 10:55 AM   #3
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Right on, good idea. Pre-purchase inspection at a BMW dealership or ??
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      05-11-2019, 12:04 PM   #4
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Right on, good idea. Pre-purchase inspection at a BMW dealership or ??
Take it to Car Tender or Strickly BMW to get the preinspection done.
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      05-11-2019, 03:04 PM   #5
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Originally Posted by P1et View Post
Donít buy the extended warranty. Just put some money aside in case repairs come up. Have a pre purchase inspection performed before buying.
Definitely good advice to follow. Whatever premium you would spend on buying an extended warranty, would be better to save if there are needed repairs. Would have the pre-purchase inspection performed at a dealer.
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      05-12-2019, 10:57 AM   #6
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Definitely good advice to follow. Whatever premium you would spend on buying an extended warranty, would be better to save if there are needed repairs. Would have the pre-purchase inspection performed at a dealer.
What if that policy was $2K or $3K or $5K? At what point is it worth buying the policy. We all know that a simple gasket repair can be $2K.
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      05-12-2019, 02:28 PM   #7
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Do you think a $2K policy is the same as a $5K policy? Whatever the price these people price them so that the vast majority of people will not use the full amount they paid for the policy in repairs. That's how they make money. It's like a Casino, do you want to bet against the Casino, or do you want to be the Casino.
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      05-12-2019, 03:32 PM   #8
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My 2c. My warranty was around NZ$2000 and to date they have paid for 3 times that in work excluding the NZ$6k for new injectors most recently. Costs me $500 per claim as a co-payment, which is significantly less than footing the entire bill.
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      05-12-2019, 05:09 PM   #9
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Anyone giving this guy advice of simply, "buy a warranty" or "don't buy a warranty" is overlooking QUITE a lot of factors that should be considered.

In general, the concept that the "house" (insurance company) usually wins, is correct. In order for an insurance (or warranty) company to stay in business, they need to take in more in premiums than they pay out in claims. But that's far from the whole story.

When you're purchasing a car without a warranty, you have two options:

1. Self insure.

2. Buy a warranty.

That's it. IF something happens, somebody will be responsible for it financially. That can be you, or that can be a third party. You're gambling, of course, in terms of who might get stuck with the bill. But going back to the statement about the "house" - the house DOES pay out, and sometimes quite a lot. But they generally keep from going bankrupt because (a) they have the capital reserves to pay out, and (b) it's far from every contract that will cause them to pay out (and then more than the premiums collected).

Self insuring is a perfectly respectable option, but make sure you're doing it for the right reasons and can afford to play that game.

Ask yourself - if there was a catastrophic failure of something like the engine or transmission, how would you respond? If your answer is something like, "I'd be annoyed but then would proceed to the shop to pay for repairs" then you may be a good candidate for self insuring. However, if your answer goes something like, "I'd panic, not know where I'd get the money, and may end up in a dire financial situation" then you're definitely NOT a good candidate for self insuring. Of course, there's a whole spectrum in between.

I bought my R8 V10 new in 2014. While at 3.5 years of ownership (about 6 months shy of the warranty expiring), and with about 16k miles on the clock, the engine had a catastrophic failure - valve cracked. Now, the R8 is an incredibly reliable car - it has its problems, like any car, but in general they're considered relatively bullet-proof as far as the engine goes. My dealer had never seen something like it. The bill, had it not been under warranty? Over $55,000.

Prior to that incident, I was considering whether I got an extended warranty or not as I plan to keep the car indefinitely. Thankfully, I'm in a position where I could easily pay for any issue like this - but it doesn't mean I WANT to, either. I would have been really annoyed if that was 6 months later and I had decided against the warranty. But I would have paid for it, life would have gone on.

On the flip side, I've seen guys make similar self insurance gambles, especially on expensive cars, and it hasn't worked out well. Now, that engine failure is a true worst case scenario - in fact, my dealer said it was THE single most expensive warranty claim they've ever had. But it's also a good reminder that sh*t happens, and you need to be prepared - hope for the best but expect the worst.

Now, I've never purchased an extended warranty on any other car. But again, I've also known that I can absorb the cost should the worst happen. With my previous BMWs, it's worked out well when I've kept them beyond the warranty period. They had issues, but they never added up to what I would have paid for the warranty. But that was pure luck.

My 2007 335i? I bought it new in 2007 and kept it for close to 7 years and 89k miles. It had a few minor problems. Some of the guys on this forum - in fact MANY of them - had multiple turbo failures, multiple HPFP failures, wastegate problems, etc. The N54 was NOT known to be reliable... I got lucky.

Long story short, you need to contemplate a number of factors when deciding to buy an extended warranty or not. You'll be gambling either way, but you can do so from an informed position - the least of which should include your personal financial capacity to deal with a worst case scenario, the car's reliability history (as a model), and the UNIQUE car's maintenance and reliability history.

Lastly, I'll say this about the BMW V8 - it's NOT known to be the most reliable. The N63 was a total disaster, and the N63TU, while better, was still far from trouble-free. I had an N63TU in my 2014 550xi. I had it for 3 trouble free years - but then again, I put all of 18k miles on that car, so it was barely broken in when I got rid of it. Another member with a 2014 550xi on this forum had BMW buy it back because the problems it was experiencing just couldn't be fixed after multiple attempts. So yeah, things can go wildly different. You need to consider all the factors for your personal situation and make an informed decision.
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      05-12-2019, 05:31 PM   #10
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Quote:
Originally Posted by ezmaass View Post
Anyone giving this guy advice of simply, "buy a warranty" or "don't buy a warranty" is overlooking QUITE a lot of factors that should be considered.

In general, the concept that the "house" (insurance company) usually wins, is correct. In order for an insurance (or warranty) company to stay in business, they need to take in more in premiums than they pay out in claims. But that's far from the whole story.

When you're purchasing a car without a warranty, you have two options:

1. Self insure.

2. Buy a warranty.

That's it. IF something happens, somebody will be responsible for it financially. That can be you, or that can be a third party. You're gambling, of course, in terms of who might get stuck with the bill. But going back to the statement about the "house" - the house DOES pay out, and sometimes quite a lot. But they generally keep from going bankrupt because (a) they have the capital reserves to pay out, and (b) it's far from every contract that will cause them to pay out (and then more than the premiums collected).

Self insuring is a perfectly respectable option, but make sure you're doing it for the right reasons and can afford to play that game.

Ask yourself - if there was a catastrophic failure of something like the engine or transmission, how would you respond? If your answer is something like, "I'd be annoyed but then would proceed to the shop to pay for repairs" then you may be a good candidate for self insuring. However, if your answer goes something like, "I'd panic, not know where I'd get the money, and may end up in a dire financial situation" then you're definitely NOT a good candidate for self insuring. Of course, there's a whole spectrum in between.

I bought my R8 V10 new in 2014. While at 3.5 years of ownership (about 6 months shy of the warranty expiring), and with about 16k miles on the clock, the engine had a catastrophic failure - valve cracked. Now, the R8 is an incredibly reliable car - it has its problems, like any car, but in general they're considered relatively bullet-proof as far as the engine goes. My dealer had never seen something like it. The bill, had it not been under warranty? Over $55,000.

Prior to that incident, I was considering whether I got an extended warranty or not as I plan to keep the car indefinitely. Thankfully, I'm in a position where I could easily pay for any issue like this - but it doesn't mean I WANT to, either. I would have been really annoyed if that was 6 months later and I had decided against the warranty. But I would have paid for it, life would have gone on.

On the flip side, I've seen guys make similar self insurance gambles, especially on expensive cars, and it hasn't worked out well. Now, that engine failure is a true worst case scenario - in fact, my dealer said it was THE single most expensive warranty claim they've ever had. But it's also a good reminder that sh*t happens, and you need to be prepared - hope for the best but expect the worst.

Now, I've never purchased an extended warranty on any other car. But again, I've also known that I can absorb the cost should the worst happen. With my previous BMWs, it's worked out well when I've kept them beyond the warranty period. They had issues, but they never added up to what I would have paid for the warranty. But that was pure luck.

My 2007 335i? I bought it new in 2007 and kept it for close to 7 years and 89k miles. It had a few minor problems. Some of the guys on this forum - in fact MANY of them - had multiple turbo failures, multiple HPFP failures, wastegate problems, etc. The N54 was NOT known to be reliable... I got lucky.

Long story short, you need to contemplate a number of factors when deciding to buy an extended warranty or not. You'll be gambling either way, but you can do so from an informed position - the least of which should include your personal financial capacity to deal with a worst case scenario, the car's reliability history (as a model), and the UNIQUE car's maintenance and reliability history.

Lastly, I'll say this about the BMW V8 - it's NOT known to be the most reliable. The N63 was a total disaster, and the N63TU, while better, was still far from trouble-free. I had an N63TU in my 2014 550xi. I had it for 3 trouble free years - but then again, I put all of 18k miles on that car, so it was barely broken in when I got rid of it. Another member with a 2014 550xi on this forum had BMW buy it back because the problems it was experiencing just couldn't be fixed after multiple attempts. So yeah, things can go wildly different. You need to consider all the factors for your personal situation and make an informed decision.
This! It is exactly what I was trying to say in my 2 sentence post . Every individual has to decide if $2K, $3K, $5K, etc is worth it (and look at the fine print of what is covered). Let's say it is a 5 year, 100K mile warranty all inclusive for $5K, I wonder if anyone here would say "never buy it" (I doubt it) for a V8 650. Many simple and common repairs cost a couple grand on these cars.

In any case, the warranty company wins in sum at the end, just like any insurance company. The buyer has to hedge their bet and think about the car the own, the miles they put on, and the warranty value.
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      05-12-2019, 09:42 PM   #11
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Quote:
Originally Posted by thebmw View Post
This! It is exactly what I was trying to say in my 2 sentence post . Every individual has to decide if $2K, $3K, $5K, etc is worth it (and look at the fine print of what is covered). Let's say it is a 5 year, 100K mile warranty all inclusive for $5K, I wonder if anyone here would say "never buy it" (I doubt it) for a V8 650. Many simple and common repairs cost a couple grand on these cars.

In any case, the warranty company wins in sum at the end, just like any insurance company. The buyer has to hedge their bet and think about the car the own, the miles they put on, and the warranty value.
Many years ago I worked for a leading warranty and service plan administrator who manages all the new and used car warranties for Land Rover, Jaguar, Nisan, Subaru...to name but a few. And yes, the house always wins.

Much like gym memberships those who get maximum value out of their warranties are subsidised, in effect, by those who buy them but never use them.

Cars are expensive to run, plain and simple. Low-volume cars even more so. The 6- and 7-series use parts which are often bespoke to those models, and in many cases shared parts are shared only with Rolls Royce. Depending on the cost and terms and conditions and of course any exclusions of any specific warranty they are at the very least worth a look.

Personally, I have never owned a pre-owned car without warranty.
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      05-13-2019, 02:41 AM   #12
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Well, this is my personal experience, I purchased 3rd party extended warranty for about $6000. I had a rod bearing faliure which resulted in engine replacement ($25000), I blew both my DMEs ($9000), and a few small items here and there roughly about $2000 in total, tbh best $6000 I have paid in my life, and car is a TU and not modded.

The above posters may be correct, maybe in most cases its not worth, but I sure as hell am glad that I purchased it
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      05-13-2019, 07:11 AM   #13
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"ezmaass" has given us all excellent advice, at the end of the day extended warranties are all about peace of mind. My 2015 650iX GC, purchased used last year at 20k miles, after 6 months of ownership had a DSC module and camera system failure. If I remember correctly, total cost to repair was nearly $9k! Fortunately for me all covered by the original 4 year/50k manufacturers warranty. Zero cost to me. I purchased an extended comprehensive warranty from Zurich ($5k) for my 2012 550iX, after 4 years of ownership and 40k miles I am sure I got my money back. See my post on the 5 series board if you want to see what went wrong during this time. Sure glad I sold this car after the warranty ran out!
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      05-13-2019, 08:03 AM   #14
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What's the best warranty out there? I looked at Route 66 but my car only qualifies for "First Street" basic coverage for ~$1300. I have a 14 M6 that is out of warranty.
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      02-09-2020, 09:30 PM   #15
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Quote:
Originally Posted by bmw_world View Post
Looking to buy a 650i xdrive gran coupe with ~50k miles. Everyone has warned me to steer clear of bimmers because of the maintenance costs but damn is that a good looking car. Thoughts? And what is everyone's take on extended warranty? Worth it? Go thru 3rd party or thru bmw? Please help. Cheers!
I vote extended warrenty all the way. The problem however with all warranty companies is the ability to pay/settle when you need it. I just had to fight my warrenty company on an engine seized at $60k miles

https://www.youtube.com/watch?v=AY9IS_gCKcY&t=12s
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