Extended Warranty for X5 F15

[dianvs11]

Hi all.

I want to take a plunge and get an X5 F15 (most likely 30d but looking at 40/50d as well). The mileage will be 150k or more, that’s the price point I can afford at the moment.

But I want to be smart about it. Looking for one with a solid service history.

Next step will be to get an extended warranty. A mechanic advised me to get a plan that has a ‘pot’ of funds to use for repairs, instead of individual parts covered for a set price.

I see the older the car, the less they cover for said parts listed. Which worries me.

Anyone have any recommendations for a solid plan?

 

[MOE 000 GP]

Innovation group

 

[tamgoem]

If you NEED a warranty, i would advise not not buying the car. Rather buy somthing you can reasliticlally afford to drop the needed repair money on.

Just my 2C.

 

[Nishcat_M140i]

Did this same exercise of looking at aftermarket warranties last year. Called up a few companies like innovation, motorite, and a few others and in all honesty, its not worth it especially on older cars.

My advice is rather open up a savings account and deposit some money in there monthly in the event of an unforeseeable emergency. This way, atleast you know you have something saved up whereas paying a monthly premium each month its not guaranteed that they will even pay out because they always try to find ways to avoid paying out for your claim too, especially if that specific component isn't listed on their contract.

 

[Tinuva]

Yup, aftermarket warranties are not worth it. They make you jump through multiple hoops to qualify. The worst is, you have to WAIT for a part to FAIL before they pay out. You can't claim for preventative maintenance. In my opinion, get to know the car you have or going to buy, really well. Internet has most of the older cars really well documented on what usually fail, what is the best way to do preventative maintenance, and have a worry free ride.

I had an aftermarket warranty on my first ever car. Learned the hard way. Now I rather have savings ready to go and do the preventative maintenance and rather prevent the common issues from happening.

 

[Bushnut#1]

I've taken out mandatory aftermarket warranties (Innovation and Motorite) on three vehicles. Unfortunately, on two separate occasions when I submitted a claim, both were rejected. In my experience, they seem to send an inspector looking for reasons to decline the claim rather than objectively assessing the actual fault being claimed.

As others have already mentioned, I'd rather keep the money in a dedicated savings account for unexpected repairs. It's also worth spending a bit on a thorough pre-purchase inspection by an independent inspection company. In my opinion, that's money far better spent than paying for an aftermarket warranty that may not pay out when you actually need it.

 

[AshG108]

Great answers on the warranty, a good friend of mine and many others have said...stay away from M50d as it has a complex setup. Rather go 30d or 40d... 30d being the most hardy and easy one and the 40d with one more snail is not so bad.

 

[Nishcat_M140i]

Great answers on the warranty, a good friend of mine and many others have said...stay away from M50d as it has a complex setup. Rather go 30d or 40d... 30d being the most hardy and easy one and the 40d with one more snail is not so bad.

The 30d is the keep it safe one.

The 40d is the sweet spot.

The M50d is a beast, but its also unnecessary especially considering the M-lite tax and 3 turbos things are bound to go wrong. Might as well go for the F85 X5M in this case.

 

[msm]

Agree on 30d or 40d being the best alternatives. When I was looking at options last year, prices were very similar between the 2, but I noticed that (in general) 40d’s were better spec’ed than 30d’s. And the odd 30d that was well spec’ed was commanding a huge price premium.