[rw74]

My son just bought a 2008 BMW 550i. He saved up and it was the first car he wanted to buy. My wife and I have always leased BMWs so we knew the repair bills would be expensive. However, after only a few months it seems like the guy we bought it from gave us false papers on the repairs he had done. It looks like there may be issues on the horizon with the Brake Vacuum and Alternator Mount Bracket Leaking.

I looked into some used car warranties, but I'm not sure if they are worth the monthly price. I'm afraid I'll pay all this money and when something goes they'll say everything is covered "but that repair!"

Does anyone have experience or thoughts?

This is my first post too so thanks in advance!

[fiveohwblow]

Subscribing as I’m genuinely interested as well. I don’t find the $200 month-ish car shield a smart move when that’s a little less than half a new commuter car monthly payment. I would love to know what good options exist to pay say 2k or $2,500 and have maybe another 40-50,000 miles. Of course I expect deductibles etc but… I was finding more along the lines of 5-7k and that was beyond silly to me.

[TAZ007]

Originally Posted by rw74

My son just bought a 2008 BMW 550i. He saved up and it was the first car he wanted to buy. My wife and I have always leased BMWs so we knew the repair bills would be expensive. However, after only a few months it seems like the guy we bought it from gave us false papers on the repairs he had done. It looks like there may be issues on the horizon with the Brake Vacuum and Alternator Mount Bracket Leaking.

I looked into some used car warranties, but I'm not sure if they are worth the monthly price. I'm afraid I'll pay all this money and when something goes they'll say everything is covered "but that repair!"

Does anyone have experience or thoughts?

This is my first post too so thanks in advance!

They are generally not worth the paper they are printed on. Besides the hefty monthly payment, there are deductibles which mean you are out of pocket more than the insurance is worth. As far as coverage goes, in my experience, not every item is listed on the terms and there is often fine print that excludes items not specifically mentioned. I advise going line by line through the terms to ensure what you want covered is not excluded. If there is ambiguity, the insurance company will say it is not covered. Hope it helps and good luck. I empathize with your situation.

[rw74]

The ones I checked were roughly $120 a month and were ambigious covering engine, transmission, drive shaft.

[Vivek.]

The PO of one of my cars used Route 66. Cost a few thousand up front for 60k/3 years of coverage. Has already paid for itself as they covered a DCT replacement in full--based on what he's described it sounds worth it. I haven't had to use it yet.

FWIW this is a friend of mine as well, not some random guy I bought a car from

[wpw]

[carseatsm5]

I’m frankly surprised there are even warranty options for that car. A couple hundred a month seems kind of reasonable to me, but I hope you prove me wrong. Following to see if people come up with something better.

[XMetal]

I would only consider a used car warranty as insurance against engine/transmission failure. Whether it is worth it or not - only you can decide. Outside of that, I would not bother. There are lots of fine prints, so there's always some "gotcha" that they can weasel themselves out of paying for the needed repair. Oh...and you can't get something fixed unless it has actually failed. So if you hear your starter grinding away for mercy as it's about to fail, guess what? You can't preemptively replace it using the warranty claim - you'll have to wait until that inopportune time when it has actually failed for it to be covered. For that, I would rather just pay as I go and put my money into preventative maintenance. That way, I will be in control of what I want to spend on repairs rather than letting someone else say/decides what I can or cannot repair with my own money - just my 2cents.

[F30lolz]

Originally Posted by rw74

My son just bought a 2008 BMW 550i. He saved up and it was the first car he wanted to buy. My wife and I have always leased BMWs so we knew the repair bills would be expensive. However, after only a few months it seems like the guy we bought it from gave us false papers on the repairs he had done. It looks like there may be issues on the horizon with the Brake Vacuum and Alternator Mount Bracket Leaking.

I looked into some used car warranties, but I'm not sure if they are worth the monthly price. I'm afraid I'll pay all this money and when something goes they'll say everything is covered "but that repair!"

Does anyone have experience or thoughts?

This is my first post too so thanks in advance!

The N62 isn’t well known for being reliable. IMHO I would try Car Shield and see what their quote would be for powertrain at least. Make sure gaskets, coolant parts, trans and some key electrical components are covered. Also, good time for you and your son to bond by doing some preventative maintenance together such as replacing spark plugs, coil packs, filters, etc...

My mechanical skills suck but YouTube taught me how to do plugs and coils on my e90 and f36.

[OnlyGerman]

No decent warranty will cover a 550i, especially any for seals and gaskets ,which what you want coverage for on a n62Sell the car, it is a money pit and a horrible first car. It has never ending oil and coolant leaks. A 2008-2010 528 is a better choice for first car.

[OnlyGerman]

Originally Posted by fiveohwblow

Subscribing as I'm genuinely interested as well. I don't find the $200 month-ish car shield a smart move when that's a little less than half a new commuter car monthly payment. I would love to know what good options exist to pay say 2k or $2,500 and have maybe another 40-50,000 miles. Of course I expect deductibles etc but… I was finding more along the lines of 5-7k and that was beyond silly to me.

Monthly payment warranty are usually junk

[OnlyGerman]

Originally Posted by F30lolz

The N62 isn't well known for being reliable. IMHO I would try Car Shield and see what their quote would be for powertrain at least. Make sure gaskets, coolant parts, trans and some key electrical components are covered. Also, good time for you and your son to bond by doing some preventative maintenance together such as replacing spark plugs, coil packs, filters, etc...

My mechanical skills suck but YouTube taught me how to do plugs and coils on my e90 and f36.

N62 is not a DYI Motor for any amateur. Even experienced bmw master techs have trouble with this motor and their complicated leaks

[OnlyGerman]

Originally Posted by Vivek.

The PO of one of my cars used Route 66. Cost a few thousand up front for 60k/3 years of coverage. Has already paid for itself as they covered a DCT replacement in full--based on what he's described it sounds worth it. I haven't had to use it yet.

FWIW this is a friend of mine as well, not some random guy I bought a car from

Route 66 will not cover a 13yr old bmw

[Vivek.]

Originally Posted by OnlyGerman

Route 66 will not cover a 13yr old bmw

Do you know what their limit is? Mine's a 2013 and it's covered.

[F30lolz]

Originally Posted by OnlyGerman

N62 is not a DYI Motor for any amateur. Even experienced bmw master techs have trouble with this motor and their complicated leaks

I only suggested the OP and his son to do a spark plug/coil pack change and filters (air) for basic maintenance, not do a complete tear down. This can be done at home.

[Jszy25]

Originally Posted by TAZ007

They are generally not worth the paper they are printed on. Besides the hefty monthly payment, there are deductibles which mean you are out of pocket more than the insurance is worth. As far as coverage goes, in my experience, not every item is listed on the terms and there is often fine print that excludes items not specifically mentioned. I advise going line by line through the terms to ensure what you want covered is not excluded. If there is ambiguity, the insurance company will say it is not covered. Hope it helps and good luck. I empathize with your situation.

^ agreed, with all of this.

[deathwish]

Originally Posted by rw74

....I looked into some used car warranties, but I'm not sure if they are worth the monthly price. I'm afraid I'll pay all this money and when something goes they'll say everything is covered "but that repair!"

I say go with your gut instinct.TAZ007 said it best when he said that they generally aren't worth the paper they are printed on.
Maybe just put $200/month away in an account for your son. It will likely serve him better than a third party warranty.