Quote:
Originally Posted by M3Bimmer77
It's pretty simple. Buy an 08 for 30 -35k with 40k miles, more or less and that's if you can find one in good shape. Add a warranty and add all the upgrades to be comparable to an 11. You will be close to the price of buying a 2010 instead of an 08 and with 2-3k more you will buy a 2011. I don't see the deal. Sorry.
I never thought it would be that much. For the vanos. I just called by buddy at his shop. He told me that a fix like that could be around 4k and they can do it in 8-10 hrs. A dealer could charge 6k. And then he will charge 500 for two oil change. This includes cleaning of pan. That can add up to 9k on the dealer or 5k with a reputable shop. Is the warranty worth it? I'm not still sure. Bottom line I'm against these extended warranties. In your case you might have been lucky and used it, but most of the times it's a waste of money. Read online the statistics on extended warranties and you will see what I mean. I worked 9 years on insurance and 2+ years on extended warranties.
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I bought an 09 with under 40k miles for $33.5k and paid $2k for a 4yr warranty. $35.5k does not buy you a 2011, not even close. Not to mention a 2011 is also out of warranty, so if that's something you care about then you still have to tack warranty expense on regardless of year. The deal is you can save $5-7k for what is basically the same exact car. What upgrades are you referring to that would cost $7k to implement? I dont see how you're missing this. Sorry.
Yes, my repair was done at a dealer. Quite frankly I would not trust any of my local indy shops with this job. There is no way this could be done for $4k even if you were doing it yourself. The VANOS gears alone cost more than that, look it up for yourself on one of the countless BMW part sites. The driver side valve cover and timing chain cover also needed to be replaced so tack on another grand while you're at it. 2 oil changes? LOL, when all was said and done there were 4 oil changes (incorrectly diagnosed bad oil level sensor initially)! Do you realize cleaning the oil pan means dropping the sub frame? The time into the oil pan alone is over $1k worth of work. Honestly your friend is clueless and probably didn't bother looking up actual numbers for a job like this. You don't know the actual extent of the repair, so you should probably stop guessing and comparing to your buddy's shop to prove whatever your point is. Even if it was only $6k (which it was before the oil pan), that would mean the warranty paid for itself 3-fold!
Obviously in my case the warranty paid out big. But are you honestly saying you don't think a $2k warranty wouldn't pay for itself within 4yrs/50k miles on a car where just about anything that can go wrong costs over $1k? You think between 40-90k miles an M3 owner can expect to pay less than $2k in repairs?
The statistics you speak of are based predominantly on cars where the warranty really ISN'T worth it. You can't just say that since they are a rip off on a Camry with 40k mi that this applies to all cars. It's well worth having a warranty if you can get one for the right price on a car like the M3.