M4 with 47K miles - Buy a warranty?

[NozzFest]

I'm thinking of keeping my M4 for another year (before I start a family and get an SUV or something), and am considering getting a gold 5yr/75K warranty for $4,579.00. I'm also considering the +1 maintenance plan for $1,700.00.

My used 2015 M4 came with 31,000 miles on it, now at 47,500. Running great with no issues (except for some scraping metal sounds by the tire from time to time). Still under factory warranty up to 50,000 so I have a month or so to figure out if I should extend.

Is US $6,279.00 a crazy amount to pay for one year? I'm curious how many of you would just forego the warranty altogether, or might just get the maintenance plan, or some other combo.

The brakes haven't been changed out yet and I know they're close... Other than that I'm ignorant of any large maintenance coming up.

[Paz1]

That seems like a crazy amount to spend on one year for warranty/maintenance. Do u have car payments on that M4?

[NozzFest]

Originally Posted by pgarbul1

That seems like a crazy amount to spend on one year for warranty/maintenance. Do u have car payments on that M4?

It seems like a lot to me too! This is my first M though - I'm not sure what can go wrong at this mileage. And yes, I financed this car.

[Olivo]

I think you'll be fine for the year.

[Ian1973]

Don't do it.

[RickFLM4]

I'd roll the dice or get rid of the car before I spent that much to keep it for one year. Is the 5 year warranty 5 years from in-service date or 5 years from date warranty is purchased? If the latter and you can get a pro rated refund for the unused 4 years, the cost is obviously lower. Still a lot for one year though. M

[NozzFest]

Originally Posted by RickFLM4

I'd roll the dice or get rid of the car before I spent that much to keep it for one year. Is the 5 year warranty 5 years from in-service date or 5 years from date warranty is purchased? If the latter and you can get a pro rated refund for the unused 4 years, the cost is obviously lower. Still a lot for one year though. M

Warranties are from in service date, so essentially it would be for a year's worth of coverage.

Do you guys get extended warranties at all? I'm kind of surprised that people are surprised by the price.

[DocOct]

Over $6k for one year is nuts. I'm in the same boat with my x5 and I think I'll take my chances for that cash.

[RickFLM4]

Originally Posted by NozzFest

Warranties are from in service date, so essentially it would be for a year's worth of coverage.

Do you guys get extended warranties at all? I'm kind of surprised that people are surprised by the price.

I got extended warranties for my previous S4 and my wife's Q5. In both cases, the warranty term started on purchase date - different warranty underwriters do it differently. In both cases, they were platinum bumper to bumper coverage (exclusions listed), extended multiple years and cost less than $4,500. I still have 2 years left on my wife's 2012 Q5 that we bought in 2011. I don't understand the concept of spending $4,500 for one year.

[unc879wins]

Check a local credit union. They often offer better coverage for less cost on extended warranties. You can purchase even if you don't have vehicle financed with them. At least do a side-by-side comparison of the two warranties.

[KevinM]

Originally Posted by NozzFest

Warranties are from in service date, so essentially it would be for a year's worth of coverage.

Do you guys get extended warranties at all? I'm kind of surprised that people are surprised by the price.

Wow, are you sure? I cannot even fathom $5K for a year's worth of warranty (hell, even for the Alfa QV!).

In terms of ever getting warranties, since I have an excellent indy that I trust, no...but in the right circumstances they can make sense.

[TX PETE]

Originally Posted by NozzFest

Running great with no issues (except for some scraping metal sounds by the tire from time to time).

What is that sound??? I heard it for the first time this past weekend

[hau_nguyen91]

Originally Posted by TX PETE

What is that sound??? I heard it for the first time this past weekend

brakes shields. GOt my replaced and no more sounds

[gatorfast]

Only warranty I would consider is the powertrain +

It's considerably cheaper than the gold/platinum ones and covers the things I consider most important like the engine and transmission. Basically the most expensive parts which would render the vehicle undriveable if they were to break. You could prob buy a 7/100k PT+ warranty for close to the price of the one year gold.

Also, definitely reach out to some of the forum sponsors for warranty pricing. They are likely cheaper than your local dealership.

[shortseller]

Wow, based on what I'm reading above no wonder values drop like stones in the 4th year of the warranty period.

OP, too much money for a years worth of insurance. Find a good Indy shop if you are willing to take the chance.

[MrSmartyPants]

Originally Posted by gatorfast

Only warranty I would consider is the powertrain +

It's considerably cheaper than the gold/platinum ones and covers the things I consider most important like the engine and transmission. Basically the most expensive parts which would render the vehicle undriveable if they were to break. You could prob buy a 7/100k PT+ warranty for close to the price of the one year gold.

Also, definitely reach out to some of the forum sponsors for warranty pricing. They are likely cheaper than your local dealership.

Totally agree. Was told these are much cheaper. Engine replacement cost, if needed, hits 5 figures, that's a big nut.

Otherwise, brakes, suspension, random electronics.... doesn't seem to add up.

In the OPs case, car is running well and still relatively new. I wouldn't expect anything major assuming all normal PM is getting done. Most cars ive owned (mostly jap) havent started to have random problems until 75k+.

[cotmfk]

The 5/75k warranty for $4500 is not a bad deal. You'll be over 100k miles by the time it's expired theoretically. I would go for that, especially since you plan to sell in a year. The next buyer will pay more for a car with a warranty, or you can just cancel the remainder and get a pro-rated refund.

[GOLFFRR]

If you decide to buy a warranty shoot me a buzz. We blow those out for forum members

[RickFLM4]

Originally Posted by cotmfk

The 5/75k warranty for $4500 is not a bad deal. You'll be over 100k miles by the time it's expired theoretically. I would go for that, especially since you plan to sell in a year. The next buyer will pay more for a car with a warranty, or you can just cancel the remainder and get a pro-rated refund.

See post 7. OP indicates term is from in service date so he will only get one year out of it. No pro rated refund or remaining warranty to transfer to buyer.

[uniqueMR]

I agree with most, no need to spent that amount on warranty.

[NozzFest]

Well I'm changing tact and thinking about the powertrain+ warranty now, once I get a few numbers. I'm also now thinking of gambling that the problems I have aren't going to be worth 6K for one year.

But I'm wondering if I should drop the warranty idea completely and go with the maintenance plan for an extra year. It costs 1700 but I think that might cover most of the costs of a brake change which may need to happen soon, and all other services in the next 25K miles. What do you guys think about that?

[Robby29]

I got my EASYCARE Gold for 84month/100,000miles ending in 2021 for $3k with $100 deductible. Also covers suspensions which i think bmw doesn't cover