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      09-15-2020, 10:57 AM   #1
Mr Squarekins
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Extended warranty, monthly pay or annual in advance?

Hi,

I've been quoted by bmw for extended warranty both annual payment and monthly. The monthly is more than double, what it would be annually which seems odd. Its normally more but not that much.

Who else in the uk pays monthly and what do you pay please?

Thanjs!
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      09-15-2020, 11:58 AM   #2
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I **think** the advantage of monthly is only when you tick over the 100k mark, basically they won't insure past 100k miles, so if you do this you can continue the cover, if you do it annually they pull the offer to renew.
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      09-15-2020, 11:59 AM   #3
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Or maybe when they are about to switch from the insured warranty to the select parts type warranty, monthly would be better for that.
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      09-15-2020, 02:22 PM   #4
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Quote:
Originally Posted by Mr Squarekins View Post
Hi,

I've been quoted by bmw for extended warranty both annual payment and monthly. The monthly is more than double, what it would be annually which seems odd. Its normally more but not that much.

Who else in the uk pays monthly and what do you pay please?

Thanjs!

Hi - I recently had this dilemma - at 55k miles. An additional issue here being you cannot purchase an 'i' extended warranty after 60k miles. And I'm not sure how long I'm going to keep it for (it's 5 years old and I've had it for three)

My decision (and with agreement from bmw) was to purchase the annual (around a grand with recovery and 100 excess) and then cancel at 59.5k where i get a pro rata refund (providing i haven't claimed) . At this point i then either purchase the annual or monthly depending on what i plan to do with the car next year.

The benefit of the monthly is that if you take it out before 60k you can just keep it going all the way up to 100k. In contrast the annual for me would cover me to around 80k miles and then i'd be stuck.

In context, I do 20k mile a year. Hope this helps. And the car has been very, very reliable. Just a cracked coolant thing to sort.
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      09-15-2020, 04:00 PM   #5
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Thanks all. I'm confused. My car's only done 28k miles, but will be coming up to three years. So am I right in understanding therefore :

I can purchase the annual warranty at 995 but they wont cover past 100k
I can go monthly payment now, but pay over 2000 in a year for that. (I'd be crazy surely)
But the monthly will cover me past 100k miles?

But, just below 60k miles, i need to cancel the annual to qualify for monthly cover? But probably pay 2000 over a year?

If so, I'm starting to doubt a long term relationship with this car. It needs to be gone before 60k, but definetely 100k?

Thoughts.
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      09-16-2020, 07:49 AM   #6
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Quote:
Originally Posted by Mr Squarekins View Post
Thanks all. I'm confused. My car's only done 28k miles, but will be coming up to three years. So am I right in understanding therefore :

I can purchase the annual warranty at 995 but they wont cover past 100k (CORRECT)
I can go monthly payment now, but pay over 2000 in a year for that. (I'd be crazy surely) (CORRECT)
But the monthly will cover me past 100k miles?

But, just below 60k miles, i need to cancel the annual to qualify for monthly cover? But probably pay 2000 over a year? (See BELOW).

If so, I'm starting to doubt a long term relationship with this car. It needs to be gone before 60k, but definetely 100k? (PROBABLY, assuming you don't want a non bmw warranty)

Thoughts.
The issue just below 60k miles is purely personal to my situation in that i'm trying to eek out the best compromise of cost & cover to cover my ownership of the car which is likely to be towards the end of 2021.

This 'cannot purchase a new BMW warranty' after 60k miles is specific to 'i' cars and quite frustrating but it is what it its

If i assume you do the average 12k miles a year, and want to keep your car long term then you are good to use annual policy for the next two years before you start to have a similar dilemma to me
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      09-16-2020, 08:55 AM   #7
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Hi Pjs, can you clarify - there's an extended warranty cut off for i8s with greater than 60k mileage?! I'd always operated on the assumption that it's 100k based on the literature.

I'm also on the cusp, and I don't fancy running the car without warranty cover. I equally don't want to pay £2000 a year too if I switch to monthly!
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      09-16-2020, 09:52 AM   #8
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Quote:
Originally Posted by MajorJump View Post
Hi Pjs, can you clarify - there's an extended warranty cut off for i8s with greater than 60k mileage?! I'd always operated on the assumption that it's 100k based on the literature.

I'm also on the cusp, and I don't fancy running the car without warranty cover. I equally don't want to pay £2000 a year too if I switch to monthly!
I've dug the letter out ! It will cover beyond 60k miles but must START before 60k miles
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      09-16-2020, 09:55 AM   #9
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Well that sucks. What are you expecting to pay monthly? £200?
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      09-16-2020, 09:58 AM   #10
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Quote:
Originally Posted by MajorJump View Post
Well that sucks. What are you expecting to pay monthly? 200?
From memory it worked out about 2k a year, so maybe 180/month. The only reason for me to go that route was if I expected to keep the car beyond another year - I'd be better off getting in a later i8 instead ;-) A roadster is a possibility
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      09-16-2020, 09:59 AM   #11
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Thanks. I've just checked and my mileage is 45k, and I cover about 5k a year, so I've got some time yet at least!
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      09-16-2020, 02:29 PM   #12
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Wow, didn't realise 60k was the limit for i cars! Annoying! I guess I will have to pony up some cash at the 59,500 mark too. I'm a few years from that luckily, but clearly they don't want to be insuring daily drivers!
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      09-16-2020, 03:07 PM   #13
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The monthly figure was 176. I've decided to go annual, but will be asking what happens if I sell the car (say) 3 months in.

I'm planning to keep for at least 2 more years as nothing else interests me car wise right now. I will look to align its sale or trade in with just before a renewal if they dont prorate refunds. I very much doubt that they refund.

If I discover more, I'll post up. Thanks for the good info.
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      09-16-2020, 03:42 PM   #14
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I'm interested to know what will happen to the battery after 8 years - the insured warranty will cover the parts but NOT the high voltage battery. I wonder what will happen to 2014 model used prices soon?

You'd think for the 2,000 a year it would cover the HV battery/system too! In fairness, 2k isn't too bad if you use it as a daily, for a fully warranted performance car..? Local BMW dealer have also quoted me 1,000 for 30 months of servicing too, so essentially 7k for a fully serviced, fully warranted 3 years of ownership when it gets past 60k.
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      09-17-2020, 04:59 PM   #15
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It's not cheap when you read what is NOT covered. Trim, wheels? - not covered.

There's no way I'd pay 2k for a 12 month warranty on a bmw. 1k is the right figure in my opinion.


Which dealer quoted the 1k 30 months servicing? That sounds good. Any mileage limit?
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      09-17-2020, 05:41 PM   #16
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It was Stratstone Leeds, but it was covered by Emacs UK which I think is what all the BMW dealers use. When I walked in originally to enquire, they advised me the 'major' service was 1000 ish so the 3 year plan was a no brainer (and from what I recall the 3 year plan provided 2 minor and 1 major services.) When I asked at the time, I asked if this covered door struts and belt change - they said 'yes'.

However on the print out of the included scope it didn't say about the door struts and belt change - only filters, oil, vehicle check - so I phoned up today. I asked how exactly did major service cost 1000 if it was just an oil change and filters. 'They're very time consuming' apparently.... I asked her to verify with Emacs if the door struts/belt change was covered as surely they mustn't be quoting the correct major service price if it's just those items..?

So I'm awaiting an email to confirm if struts and belt are included. People do say it's not worth getting these changed if no symptoms though so might not be the end of the world if not.
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      09-17-2020, 05:46 PM   #17
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Quote:
Originally Posted by Mr Squarekins View Post
It's not cheap when you read what is NOT covered. Trim, wheels? - not covered.

There's no way I'd pay 2k for a 12 month warranty on a bmw. 1k is the right figure in my opinion.


Which dealer quoted the 1k 30 months servicing? That sounds good. Any mileage limit?
From the looks of things, everything is covered except the exclusions, which is a lot better than the named component cover. The exclusions look to be wear/tear/cosmetic items. It doesn't bother me that the trim etc isn't warranted - I mean how many pieces of trim have needed replacing on the 36 month Manufacturer warranty anyway? And a lot of these can be bought new with the part number from most dealers.

What concerns me more is that the HV battery specifically isn't covered...
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      09-18-2020, 06:03 AM   #18
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Some clarification from EMac and Stratstone for the BMW Service Plan:

Their service plan for 1050 ish consists of:

1 x MOT.

1 x Major service: (Calculated pay as go cost is approx 750)
Air filter
Brakefluid
Microfilter
Oil service
Spark Plugs
Vehicle Check
Wash/Vac

2 x minor: (Cost paygo is 350)
Microfilter
Oilservice
Wash/Vac

Map updates.

Therefore paygo prices are worth approximately 1450, BMW service plan is 1050. So an approximate 400 saving.

Belt change is 599, and struts are 200 (both of these from what I've read aren't strictly necessary unless you have problems).

The dealers do a pay as you go major service for 1350, which is slightly different from the BMW service plan: It includes major service as above but with the addition of the belt change. I don't know if you can get a major service without the belt change pay as you go, but it means that the emac/Plan value is therefore 750 (1350-600).

All in, a 400 saving on the plan. You also get a free MOT chucked in and map updates as well as any seasonal checks. Not the worst deal in the world, indies probably cheaper still but you get courtesy cars too as standard so the faff of not getting dropped off etc could be worth it for some.
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      10-19-2020, 04:29 PM   #19
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Just a follow up. BMW confirmed that annual warranty is prorated refundable if you cancel during the year, for example if you sell the car, as long as you've had no claims in that year. - fair enough I think.
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      10-20-2020, 02:29 PM   #20
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Quote:
Originally Posted by MolarBear View Post
Some clarification from EMac and Stratstone for the BMW Service Plan:

Their service plan for 1050 ish consists of:

1 x MOT.

1 x Major service: (Calculated pay as go cost is approx 750)
Air filter
Brakefluid
Microfilter
Oil service
Spark Plugs
Vehicle Check
Wash/Vac

2 x minor: (Cost paygo is 350)
Microfilter
Oilservice
Wash/Vac

Map updates.

Therefore paygo prices are worth approximately 1450, BMW service plan is 1050. So an approximate 400 saving.

Belt change is 599, and struts are 200 (both of these from what I've read aren't strictly necessary unless you have problems).

The dealers do a pay as you go major service for 1350, which is slightly different from the BMW service plan: It includes major service as above but with the addition of the belt change. I don't know if you can get a major service without the belt change pay as you go, but it means that the emac/Plan value is therefore 750 (1350-600).

All in, a 400 saving on the plan. You also get a free MOT chucked in and map updates as well as any seasonal checks. Not the worst deal in the world, indies probably cheaper still but you get courtesy cars too as standard so the faff of not getting dropped off etc could be worth it for some.
Looking at that lot across the service schedule doesn't quite make sense. Year 1 is no service, year 2 is a minor, year 3 is just a brake fluid change, year 4 a major, year 5 nothing, year 6 minor plus brake fluid, year 7 nothing, year 8 major etc. so you don't get a major with a brake fluid change until year 12! I think that they recommend the door strut change every 4 years too (seems daft to me, I'd wait till they fail), not sure about the belts.
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      10-20-2020, 02:49 PM   #21
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It's all a bit beyond what makes sense to me I'm afraid. Someone on the Facebook forum has got the above for £15 a month and had an invoice to prove it! No idea how they calculate it!
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