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03-01-2012, 12:38 AM | #1 |
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hunting Z4MC, considering OE extended warranty options
anything i get will likely be on its last months of the original warranty, if at all.
does anyone have a particular dealership finance person who they can recommend for a good quote? apparently location doesn't matter. i noticed there is a forum sponsor who has a thread for this but i am definitely weighing options. any info is appreciated! thanks. |
03-01-2012, 07:00 AM | #2 |
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Save your money for repairs and youll most likely come out ahead.
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03-01-2012, 08:14 AM | #3 |
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Mirko gave me a line on a BMW Finance Guy who sells the plans for a reasonable price. I would be happy to share the information with you.
As kennyfrc said, you may still come out ahead by creating a rainy day, car repair slush fund. Good Luck on your hunt and let us know how it goes. Last edited by Z4MLover2012; 03-01-2012 at 12:03 PM.. |
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03-01-2012, 10:51 AM | #4 |
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PM'd.
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03-01-2012, 12:27 PM | #5 |
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03-01-2012, 01:42 PM | #6 |
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I know there is that school of thought. But I have a Hendrick Autoguard that I bought for 2000 at Hendrick BMW and there is plenty of life in the policy. I have had 1400 of work done on the car with it. Power Steering pump and rear diff seal.
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03-01-2012, 02:04 PM | #7 |
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for kicks i called my local dealership and they tried to sell be a fidelity warranty. according to them, i'm not eligible for anything from BMW past powertrain plus since the car is out of warranty.
i am not 100% on that yet, but it seems they are probably making more money on the fidelity warranties so that is why they push them. maybe they have a great relationship with fidelity, and the price is nice, but i'm very skeptical. i have a call into the guy who was mentioned by a forum sponsor. we'll see. |
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03-03-2012, 09:24 PM | #8 |
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so i might have mentioned it, but Jim Martinez at Steve Thomas BMW is such a gentleman, haha. He couldn't offer me anything because BMW doesn't have much more than a maintenance program and a powertrain program for cars that are out of warranty, but he was so clear about it all. i wish he could have sold me something.
anyway, so i called a few BMW dealerships - Otto's BMW Steve Thomas BMW Thompson BMW BMW of Atlantic City i couldn't find a common denominator aftermarket policy. Thompson BMW in PA, where the car i'm looking at was purchased and serviced, has great reviews as a dealership and offered me a CNA policy. I am researching it but all in all i can't seem to find an extended aftermarket plan that will truly give me what i need. i'll keep calling and see if i can find a string of dealerships that offer a common policy. that will help my confidence level. the biggest thing for me is if something is wrong but not broken, i need it fixed. if something is whining/whirring/grinding...it might still work but it's not right, and that is where i'm unsure of these things. |
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03-04-2012, 10:54 AM | #9 |
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You have had both of those replaced on an 07? I have never heard of either of those issues on any of the forums I have frequented so I would assume they are rare. To me, the extended warranty for an M would mostly be for a catastrophic failure(vanos bolts for example). As others have said I would bank the cash you plan to spend on the extended plan in a "service account". There are very few stories of "boy I am glad I bought an extended plan" on the Z4 boards. The cars are pretty darn reliable.
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03-04-2012, 12:26 PM | #10 |
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dang - i just can't do this. i can't get this car without a real warranty. if it was still in factory warranty, i'd spring for BMW gold extended or something, or it'd be CPO, but powertrain plus isn't a satisfactory policy for me and i'm not risking it with an aftermarket warranty.
it's terrible because i'll never ever find a car like this particular piece available again but it's not worth the risk to me. too much can go wrong and cost WAY too much. i can get something that offers similar performance with a warranty. it just won't be as sexy, haha. |
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03-04-2012, 01:00 PM | #11 |
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I am not sure if I understand your delima! You could purchase BMW extended warranty and service plan as long as the car is under factory warranty. The car doesnt have to be pirchased from a BMW dealer (althought, only BMW could CPO the car prior selling it to you).
Also, not sure why are you so afraid? The Z4M was built with some of the best, proven components from BMW. Then again, we dont call BMW "Broke My Wallet" for no reason;-) good luck with your search and hope you will find the right car. |
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03-04-2012, 01:09 PM | #12 | |
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the previous owner should have gotten something when it was in warranty. someone else can take the chance. i'm not built for it. |
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03-04-2012, 02:05 PM | #13 | |
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I am personally debating this now with my '08 and am leaning towards not extending... then self funding as many described here already, and upgrading parts as I go, when said parts fail. ie: better brakes, suspension, etc. But I too fear the expense of a rare yet massive failure that could occur. Its the cost of playing with expensive toys.
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03-04-2012, 02:22 PM | #14 |
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Any car you buy...ANY CAR....can turn into a lemon. That's what we risk by buying any used car.
If you can't afford to maintain a 5,000 mile car NOW, when do you expect to be able to have the cash to maintain it? Warranties, no matter which one you get, will only cover a few years. Realistically, get a good PPI done. If it checks out, save a little cash in the bank for your first repair. THEN FIND A GOOD INDEPENDENT MECHANIC. Outside of a catastrophic engine failure or blowing your transmission, there really isn't any repair that should cost more than $2,000. |
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03-04-2012, 06:11 PM | #15 | |||
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thanks.
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and a few years is fine. it's better than a couple...or none. i don't plan on being buried in the car! Quote:
what you mentioned about a catastrophic engine failure or blown transmission is exactly what i'm worried about, at least moreso than other strange anomolies that would be covered if it did have a warranty. your point about finding a strong independent mechanic is a good one. i totally agree. unfortunately i live in an area where that sort of thing is unavailable. i'd have to travel over an hour to have access to someone worthy. i would do that if i had to, definitely. i should share that if it were 35k as opposed to 38k, maybe i would be more inclined to take the risk because the scale would tip more toward a value in my eyes, but i have little faith this guy is going to move very far. we'll see. i'm checking it out on Wednesday. |
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03-04-2012, 06:30 PM | #16 | |
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But still be sure to get that PPI regardless of the miles. Its whats UNDER that beautiful metal skin that you cannot see - that can wreak the most havoc anyway. It will end up costing you just under 1% of your total amount you'd eventually have invested in this thing, and it has a decent probability of yielding another bargaining chip - in your favor - that could easily save you 5% or more on the cost of the car. Hows that for an ROI? And if it doesn't, then its because its clean and you'll feel that much better about your eventual purchase.
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03-04-2012, 06:33 PM | #17 |
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The car is practically new with 5k miles on it. I havent read any " catastrophic engine failure or blown transmission" on our car yet (maybe a few cases with high mileage cars). Again, I understand if you are not comfortable spending $35k plus without assurance but most of the warranty I have seen are more minor issues.
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03-04-2012, 07:17 PM | #18 | |
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03-04-2012, 07:25 PM | #19 |
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I had a 13 year old 1998 Z3M for several years with 60,000 miles on it. Outside of new tires, I didn't have to spend a dime other than oil changes.
I have a 230,000 mile 1993 318is with the original engine and transmission. Still runs in tip top shape and only needed minor things. If you are worried about a catastrophic problem, then an M car isn't for you. Neither is a Porsche or other higher end sports car. Fast, reliable, cheap....you only get to pick TWO. Our cars actually wouldn't be more expensive to maintain than a 370Z or ISF outside of warranty. An E46 M3 with an SMG would, but the Z4M is still a rather basic car compared to newer models with more electronics. If you're worried about expensive repairs, than a 370Z or ISF shouldn't be in your view either. I would recommend a Kia model with a 10 year, 100,000 warranty. That way there would be no worries at any time for 10 years. The bottom line: you don't buy an M car for practicality, or dependability. You buy it for the feeling it gives you. |
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03-04-2012, 07:27 PM | #20 |
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Good Luck and if the car checks out, why not make him an offer you are comfortable with? You've not nothing to lose!
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03-04-2012, 07:27 PM | #21 |
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This is a very personal decision and I wish you the best in yours.
That said, I'd hate to see you miss out on what is surely a rare gem - an M coupe with 5K miles (I thought mine was low miles at 9K!). As has been stated, once the bearing issue was fixed after some early M3s imploded, the S54 has been essentially bullet-proof and near the end of its production in the Z4M (e.g., all needed updates addressed). Couple that to the fact that car is quite simple in terms of electronics, etc. (esp. compared to new BMWs) - no iDrive, manual box, etc. - and you have all the makings for a reliable car. A PPI is mandatory. An extended warranty boils down to your comfort level and if you have a mechanic you trust. When I bought my M5 in 2004 with <20K miles on it, I had it CPO'd through the seller's local dealer before I purchased it. I was going to the dealer at that point for my previous BMWs. Now I have a mechanic I absolutely trust (and this is rare I realize) so I was looking for a non-CPO car for the M coupe if possible, because I wasn't going to take it to the dealer anyway (our local dealer's service dept. sucks). Over 7+ years my M5 has required maintenance but few repairs and this (and my mechanic) gave me the courage to not seek an extended warranty for the coupe. I do however, budget for the possibility of a big repair for both the M5 and M coupe. GL!
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03-04-2012, 08:03 PM | #22 | |||
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also, i've mentioned maintenance isn't an issue. oil changes, scheduled maintenance...that doesn't bother me, especially with the low mileage i put on the car in this "role". catastrophic failures (bottom end or trans grenading) and common issues (ie vanos bolts finding their way out) are what concern me. a 370z and ISF are largely considered to be incredibly reliable and to boot, since maintenance keeps being brought into the conversation, in typical japanese fashion, both require nothing more than the most basic scheduled maintenance, especially the IS F. i'm not saying the z4m is some sort of abrams tank in the maintenance department, but it's definitely more needy than the two japanese cars on my list. interestingly enough...i'd be more settled with a 993 turbo than this car, as i originally researched them. how's that grab you? lastly, to be honest, i find your kia comment somewhat pretentious with the markings of an insult. that sort of humor isn't contributing to this conversation and if it isn't an attempt at humor, it's completely unnecessary imo. it's stupid. Quote:
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