anubiz 0 Report post Posted January 10, 2010 Hi folks I am looking at buying a M3 privately but can't find a company that will provide a warranty on these. The warranty companies I have tried will give a warranty through a motor vehicle dealer but not through private sales. Anyone know who might do this ? Cheers Quote Share this post Link to post Share on other sites
briancol 3 Report post Posted January 10, 2010 Where do you live? Quote Share this post Link to post Share on other sites
oscar90 0 Report post Posted January 10, 2010 Tried BMW maybe? Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 10, 2010 team mcmillan will sell you one i am sure - protecta warranty; but you'll probably need to take it in for an inspection. Mind i ask which one you looking at buying? Quote Share this post Link to post Share on other sites
briancol 3 Report post Posted January 11, 2010 I have checked with Protecta and find that they will not warranty M3's or in fact any of the European performance vehicles. I understand that this also applies to other warranty companies as well. I can understand their reasoning because the cost of most repairs to these type of vehicles usually amounts to several thousands of dollars and supplying warranties for them is totally unprofitable. Quote Share this post Link to post Share on other sites
CamB 48 Report post Posted January 11, 2010 LOL - insurance companies are definitely bottom feeders. What that says to me is that if you need mechanical insurance, you can't get it. If you can get it ... perhaps you don't really need it. Quote Share this post Link to post Share on other sites
Guest Simon* Report post Posted January 11, 2010 Haha ain't that the gospel truth! Quote Share this post Link to post Share on other sites
*Glenn* 854 Report post Posted January 11, 2010 All the warranty companies are tightening up and changing policy types and what they will and wont cover now. Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 11, 2010 I have checked with Protecta and find that they will not warranty M3's or in fact any of the European performance vehicles. I understand that this also applies to other warranty companies as well. I can understand their reasoning because the cost of most repairs to these type of vehicles usually amounts to several thousands of dollars and supplying warranties for them is totally unprofitable. I just asked the wife last night about this and she says they sell a warranty for the M3 ... I believe it is protecta, i forgot to ask, it's definitely aftermarket though, but it's apparently quite expensive, circa 2k+ with excess per claim about 3xx+ If you are interested give team mcmillan a call. Quote Share this post Link to post Share on other sites
Wom 0 Report post Posted January 11, 2010 had a look at my Autosure booklet and it excludes any M cars I got lucky, when I bought my car through the dealer and took out the mechanical warranty, I got it for 3 years with no excess ... from what I've heard you would be hard pressed to find a no excess policy these days Quote Share this post Link to post Share on other sites
anubiz 0 Report post Posted January 13, 2010 OK, Here's a heads up on trying to get an extended warranty, Every company I tried would not insure a M series BMW privately, a couple would do it if the car is sold via a licensed dealer. BMW dealerships are not interested unless your buying a car off them and it passes their criteria. I have brought a 2003 M3 with 34000 Ks on it and got a 2 year warranty through a dealer and it sounded like he had trouble. Was looking at a 2005 but that was a private sale so that was a no go.. M3_Power, -- Protecta was one company I checked with and they said no M series cars... Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 13, 2010 (edited) OK, Here's a heads up on trying to get an extended warranty, Every company I tried would not insure a M series BMW privately, a couple would do it if the car is sold via a licensed dealer. BMW dealerships are not interested unless your buying a car off them and it passes their criteria. I have brought a 2003 M3 with 34000 Ks on it and got a 2 year warranty through a dealer and it sounded like he had trouble. Was looking at a 2005 but that was a private sale so that was a no go.. M3_Power, -- Protecta was one company I checked with and they said no M series cars... Which dealership did you enquire with? Because AFAIK Protecta's the one sold by Team McMillan and it covers M cars (I've got their cover booklet as they offered one to me and it only says no covers to Ferrari, Lamborghinis, Porsches, Aston Martins and Bentleys) - you do have to get an inspection from BMW Service first though I believe. Whilst it is sold through the dealership network, it really doesn't matter if the car is purchased from the dealership or not - the finance and insurance department from a dealership is usually a separate entity anyhow, so they are free to sell an aftermarket product independent of the dealership. Any way, congrats on the new car and getting a 2 year cover with it. Edited January 13, 2010 by M3_Power Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 13, 2010 Okay, just asked the wife. She just sold one today at Team McMillan. The product is called Protecta Pinnacle (not sold on the normal Protecta website) only sold through the dealerships. You have to get a pre-purchase inspection from Team McMillan at $150 For the M cars the warranty is sold on a yearly basis - annual premium $2850 incl GST with $10,000 maximum per claim and a $500 excess - it covers pretty much everything and includes AA Roadside assistance. FYI should any of you want one - it is quite expensive, but when you look at the possibility of say a gearbox failure and you'd be looking at minimum $10,000 just to replace it. Quote Share this post Link to post Share on other sites
anubiz 0 Report post Posted January 13, 2010 gutted, could of looked at the 05 seriously.. When I phoned I asked for the service department at TM and then asked who ever it was that answered, Guess he was not up with the play on this..funny how even Protecta didn't tell me I could get one this way. Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 13, 2010 gutted, could of looked at the 05 seriously.. When I phoned I asked for the service department at TM and then asked who ever it was that answered, Guess he was not up with the play on this..funny how even Protecta didn't tell me I could get one this way. You probably spoke with Sean at the service reception - what he should have done was transfer you to one of the business managers that deal with these sort of queries. No matter though, I consider the 03 models to be the best year of manufacture - the 04s and 05s actually have more Vanos issues than the earlier 03 manufacture (some of the bolts on the vanos gears were changed for a different part on the post 04 products and they seem to contribute to a bit more failures than the earlier models for some reason). Quote Share this post Link to post Share on other sites
CamB 48 Report post Posted January 13, 2010 For the M cars the warranty is sold on a yearly basis - annual premium $2850 incl GST with $10,000 maximum per claim and a $500 excess - it covers pretty much everything and includes AA Roadside assistance. FYI should any of you want one - it is quite expensive, but when you look at the possibility of say a gearbox failure and you'd be looking at minimum $10,000 just to replace it. At $2850pa you would have to assume you were going to have something catastrophic go wrong every 2-3 years. Having an upper limit at $10k per claim is on the nose given its less than 4x the premium and wouldn't cover an engine rebuild. Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 13, 2010 At $2850pa you would have to assume you were going to have something catastrophic go wrong every 2-3 years. Having an upper limit at $10k per claim is on the nose given its less than 4x the premium and wouldn't cover an engine rebuild. This is inevitably going to sound a bit elitist or snobbery - but people forget that most of these cars are about 7+ years old and just because they've become a little more affordable to the masses doesn't detract from the fact that it'll possibly now cost a bit more to maintain them in prestine condition and will no doubt cost an arm and a leg to repair should anything major have a catastrophic failure. There's always an associated risk when buying something like a M - there being a lack of competition in the market for mechanical warranties on the likes of it also dictates the sort of terms you see above - whlist it won't cover a brand new engine, it'll certainly be enough for you to source an used one from off shore and possibly just enough to have it put it. At the end of the day a mechanical insurance is just a peace of mind - these cars really don't fail on a regular basis and are in my opinion no less reliable than a comparable high strung piece of motoring from the Japanese equivalent. Quote Share this post Link to post Share on other sites
CamB 48 Report post Posted January 13, 2010 I have an E36 M3 - I am aware of the issue. $2850 AND a $10k limit per claim is robbery (before you get started on what is excluded). It should be one or the other. Quote Share this post Link to post Share on other sites
*Glenn* 854 Report post Posted January 13, 2010 Thats so true Tom and it'll get worse as times go buy with the later model cars as well... it's already started happening. Alot of cars are just unecomic to repair. We had a '98 Merc in a couple of weeks ago... 4 new air shocks at $1900.oo ea + Gst + Fitting, wiring loom $2,500 + Gst + fitting and a leaking radiator and both electric mirror housings broken. Total cost of parts $18,000 + Gst. Guy bought it at auction for $8,000 with no warranty... it went to the wreckers. That unfortunately is going to happen more & more these days Quote Share this post Link to post Share on other sites
M3_Power 636 Report post Posted January 13, 2010 (edited) I have an E36 M3 - I am aware of the issue. $2850 AND a $10k limit per claim is robbery (before you get started on what is excluded). It should be one or the other. Most definitely not as good as the one that used to be offered by BMW NZ on all NZ New BMWs - I took one out for the CSL before they canned the scheme - that was about $2300 for 2 years factory bumper to bumper cover and no excess. But there's only that many M cars in NZ - and if it wasn't even profitable for BMW NZ to offer it at such rates, then I'd say an aftermarket supplier will no doubt struggle also. Thats so true Tom and it'll get worse as times go buy with the later model cars as well... it's already started happening. Alot of cars are just unecomic to repair. We had a '98 Merc in a couple of weeks ago... 4 new air shocks at $1900.oo ea + Gst + Fitting, wiring loom $2,500 + Gst + fitting and a leaking radiator and both electric mirror housings broken. Total cost of parts $18,000 + Gst. Guy bought it at auction for $8,000 with no warranty... it went to the wreckers. That unfortunately is going to happen more & more these days You are right Glenn it's already happening and probably has ever since performance vehicles were produced. I remember meeting a really young fella late last year (he'd be no more than 20) that just picked up an E46 M3 for pocket change - again exaggeration, but certainly one of the cheapest ones I've heard (high ks and lots of previous owners) and he couldn't believe how much the Castrol TWS oil costed for a 5 litre bottle (close to $300 retail). People fail to recognise that if a car was expensive to buy initially, it isn't going to get cheaper to maintain when they've become affordable - almost always the very opposite. Good reason why I am collecting spare parts for the CSL already (nearly bought a spare engine late last year) - when I sell it, hopefully it'll go to an enthusiast and all the spares will go with it. Edited January 13, 2010 by M3_Power Quote Share this post Link to post Share on other sites
CamB 48 Report post Posted January 13, 2010 (edited) Presumably though Glenn (and I may be wrong here), the following are not covered by the policy: - shocks - radiator - mirrors Which only leaves the wiring loom. I've spent plenty on the M3 and expect to continue to do so. However thus far, mechanical insurance wouldn't have helped as its worn out (ie a service item) ... (3 biggest bills ---> water pump, shocks, aircon refresh) or below/close enough to $500 (eg broken window regulator, leaking rear quarter window). (edit) So what I'm saying is that you need something serious to go wrong to need the cover. Something serious will potentially cost >$10k, which means the limit is a deal killer on the insurance, if you ask me. Edited January 13, 2010 by CamB Quote Share this post Link to post Share on other sites
*Glenn* 854 Report post Posted January 13, 2010 Presumably though Glenn (and I may be wrong here), the following are not covered by the policy: - shocks - radiator - mirrors Depends on warranty company. The mirrors no..they were accident damage. Merc wiring looms are not covered by any policies that I know of...common fault on Mercs Quote Share this post Link to post Share on other sites
Braeden320 0 Report post Posted January 13, 2010 Insurance and Warrenties will always be weighted in favor of 1 person, The person insuring the risk. If its not profitable they won't do it, And why should they, Companies are in business to make money at the end of the day. Very few people look at the total cost of ownership when buying something, Just the upfront amount or weekly payment Quote Share this post Link to post Share on other sites
CamB 48 Report post Posted January 13, 2010 Depends on warranty company. The mirrors no..they were accident damage. Merc wiring looms are not covered by any policies that I know of...common fault on Mercs So Glenn ... a warranty on that Merc wouldn't have helped???? Really all its showing is that newer cars have a shorter lifespan until they become uneconomic to repair, which is unfortunate. Quote Share this post Link to post Share on other sites
Wom 0 Report post Posted January 13, 2010 I had a 20kph accident, what looked like minor front left bumper and panel damage ended up costing the insurance company over $5000 in repairs my gf's pulsar (same year as my bmw - '96) had a car run into the back of her at 40kph and in turn rammed her into the car in front of her ... less than $3000 for the insurance company to fix Quote Share this post Link to post Share on other sites