I am ready to purchase a used 2003 M3 (41,000mi, Steptronic).

Have driven it 3 times and all seems OK.

Is it wise to spend $2500 on extended warranty or is it a waste of $$$.

I'd apprecite your input.

THANKS

EE
Omaha, NE

Steptronic on an m3? You mean SMG?
I would recommend the warranty, I work at the dealer and maintenance or repairs get costly real quick on these cars.

Oooops, yes, I meant SMG.

I was thinking the warranty would be a good thing - any major repair to trans, diff, or electronics could justify the $2500 in just one service dept visit.

THANKS

I would say it depends on your confidence in the vehicle history. In general, E46's are good, reliable cars, but an M3 can hide a lot of abuse.

Also, be sure you understand what the warranty covers. $2500 seems a bit low (to me) for an extended warranty on an M3, but then you don't say how much that extends the warranty.

My car was flawless for the most part, but the extended warranty is cheap insurance. If certain things break, they could easily surpass the $2500 mark. The A/C control unit, Power door actuators alone would cost about $2000. Oh and don't forget the rear view mirror which costs about $500.

I would get it. Just like Kevlar said, its cheap insurance. We all now that you will need a window regulator sooner or later.

are we talking about extended maintenance plan or the extended warranty? The maintenance plan is around 2200$ the warranty might be not less than 4k as far as I know....and I am not sure if you could buy extended warranty after the 50k mark from an authorized dealer.

I would say it depends on your confidence in the vehicle history. In general, E46's are good, reliable cars, but an M3 can hide a lot of abuse.

Also, be sure you understand what the warranty covers. $2500 seems a bit low (to me) for an extended warranty on an M3, but then you don't say how much that extends the warranty.

It really depends on the warranty company and what they actually cover/are willing to pay. If it's a good warranty for a reputable company I'd buy it, but I sincerely doubt anyone would give you great coverage for that low of a price. Most of the real good ones refuse to cover M or AMG models, as they are very expensive to fix.

I have an 03 I just bought out of warranty, and I'm not too scared of huge bills. Nonetheless, I'd buy a $2500 warranty if it was legit.

I bought an 01 vert with 85k on it and no warranty about 3 mos ago. So far it has only needed RTABs and I did those myself for about $100. But I don't mind wrenching on my cars so it is no big deal to me. Plus there is a good independent shop near me that I can trust if it is something that I can't or don't want to do. You have to do what is right for you.

i never buy warranties on anything...
cars, tv's, digi cams, nothing.

they wouldn't sell them to you if they weren't profitable for them. remember that.

it's a gamble...

i wouldn't buy it.

I am ready to purchase a used 2003 M3 (41,000mi, Steptronic).

Have driven it 3 times and all seems OK.

Is it wise to spend $2500 on extended warranty or is it a waste of $$$.

I'd apprecite your input.

THANKS

EE
Omaha, NE

Funny you should ask this. See my prior post "SMG & Aftermarket Warranty" posted only a couple of days ago.

You've already received some good advice - whatever warranty you decide to go with, make very sure of what you're paying for. Read the fine print concerning the deductible amount, prior conditions that may not be covered, what is vs what is not covered.

But based upon my own experience, under no circumstances should you buy a used SMG without getting an extended warranty. In my case it's saving me $8000.00.

OldBMVGuy

I am curious as to where this warranty comes from.

Not that I don't believe you but when I was looking the prices ranged from $3500 (national provider whose name escapes me right now, but who had done questionable business under another bankrupt name) to a bit over $5000 (the $tealership) for 6yr/100K coverage (meaning 2 year extension and another 50K miles).

I'd like to hear warranty success stories that are current for M3 owners. I know there are plenty of good warranty companies for non-M cars, but I haven't found a good one that isn't way overpriced for M3.

i never buy warranties on anything...
cars, tv's, digi cams, nothing.

they wouldn't sell them to you if they weren't profitable for them. remember that.

it's a gamble...

i wouldn't buy it.

Well said. I have no warranty on my e46 M3. I always see people complaining about the quality - that has always baffled me since these cars are really solid compared to a regular 3 series. That being said, I have no trouble fixing certain things myself and doing basic maintenance. For larger stuff, I have a few people I can trust to do the job right.

If you had a car payment and no interest to get your hands dirty, then it may be a good idea.

I am curious as to where this warranty comes from.

Not that I don't believe you but when I was looking the prices ranged from $3500 (national provider whose name escapes me right now, but who had done questionable business under another bankrupt name) to a bit over $5000 (the $tealership) for 6yr/100K coverage (meaning 2 year extension and another 50K miles).

I'd like to hear warranty success stories that are current for M3 owners. I know there are plenty of good warranty companies for non-M cars, but I haven't found a good one that isn't way overpriced for M3.

In my case I got a price from both BMW and from my credit union. BMW was $2,500.00 and only covered the drivetrain, the bank was $2,300 and covered a whole lot more. It's a national company and the name is "Members Choice".

They offered 3 different levels of coverage. Each level covered more, and cost more. I went for the middle or "Silver" level that covers all the major systems like drivetrain, A/C system, power window regulators, etc, and even allows for a rental car for up to 5 days of repair. It covers repair for 2 years or 45,000 miles and the deductible is only $100.00

I can give this company a good report, since they are covering a repair that cost almost four times the cost of the warranty - only 3 weeks into the warranty contract. They had not even received the paperwork or payment from my credit union. But after sending an adjuster to look at the car and another couple of days review, they stood by the contract.

If they had not, I would be posting their name on every forum I could find. But they have turned out to be a stand-up company so turn about is fair and they deserve a plug.

OldBMVGuy

I dont buy extended warranties, but based on a bad experience years ago when the company I used went under. If you plan on keeping the M for a long time, then sure, for peace of mind go for it.
However the general rule is 'dont' buy them, theres a lot of profit in there.

How much was Markel going to charge you for an extended warranty? I thought you had to buy off their lot (certified pre-owned) for them to sell you an extended warranty?

Just out of curiosity, where in Omaha are you?

Yes It Was Very Wise To Buy The Extended Warrenty Because If You Took That Car For Service To A Dealer It Would Already Cost 500 For Dianostics

Why not buy a CPO car?

How much was Markel going to charge you for an extended warranty? I thought you had to buy off their lot (certified pre-owned) for them to sell you an extended warranty?
Just out of curiosity, where in Omaha are you?

Sorry, wrong wording on my part - 2003 M3 is OUT of factory warranty, Markel wants $2500 for 3 years / 36K aftermarket warranty.

I live in 132nd & Center Sts area.

THANKS

EE

Why not buy a CPO car?

It's quite simple - how many "CPO" M3s (that I can afford) are there going to be available in Omaha, NE ???

Not to mention BMW dealer is offering very good trade value for my 330xi.

THANKS

It's quite simple - how many "CPO" M3s (that I can afford) are there going to be available in Omaha, NE ???

Not to mention BMW dealer is offering very good trade value for my 330xi.

THANKS


CPO is only like $1300 more and if I can find 10 within 50 miles of my zip you surely can too. Either way.... YES a warranty on a car like that is crucial unless you do all your work yourself.

you just need good insurance like the following:

no deductible
no hassle
no increases
your money back if it is never used
interest on your money throughout the policy

it is called self insurance....if you can afford any of the repairs on your own this is the best type.