Quote:
Originally Posted by shiner
Over 100k miles (I am on 49000) and you are on your own though and BMW will not offer the warranty to you any more. Which makes me doubt the long term viability of a complex car like a 535D with a ton of complex options over that mileage. You could easily get a bill that would be more than the car is worth. You are definitely in Indy territory then and would always have to be willing to write the car off if you have a major mechanical. And also suggests the used price could plummet over 100k miles.
My 535D is my car I do a lot of my - relatively light - business mileage in. I am hoping this car last another 5 years when i aim to retire early (at 56) when it will be at about that 100k mileage. it is a magnificent car I bought at 9 months old and I paid £36000 for it. It is still fantastic and I love it! Now, three years later, its list price is about £17000. So that's a lot of depreciation. However, the depreciation curve levels off. In another five years it will be worth £3-5000 or so. So you can see that, at that point, a major issue could mean a write off and my mindset would be that the car, at that age, would have given me eight years of super motoring - which is acceptable to me for the outlay of £36000 - especially since I get a £6500 a year (taxable) car allowance. I could trade in this car and spend another £20k of money added to the current car to get something newer (and in warranty). But that money will depreciate straight away to nothing in 3 years. Since the car is superb, better to spend a smaller sum keeping the car under BMW warranty.
Thought I would put my logic down so you can see if this applies to you guys.
|
I applied similar logic in deciding to get this 5 year old car for £19k rather than spend £35-40k for a 1-2 year old model. However, I am slightly regretting getting one with such high mileage now I fully understand the significance of passing 60k and 100k with respect to warranty cost and coverage. Hence this thread.
Regarding depreciation I just sold my old 9 year old 67k 530d SE for £9k having bought it for £15k 2 years earlier. So you may be being pessimistic with your estimates. However, a 100k version would definitely have been worth a lot less. So you might be right. And in 5 years I suspect few people will want a diesel due to regulations and the growing availability of EV cars and infrastructure. I certainly expect my next car (in about 5 years) to be electric.
So if I assume I can get £4k resale in 5 years then it will have cost me £3k per year. If I add the warranty cost of £1349 (£250 excess) plus say £550pa for non warranty work then my annual cost is £4900. So if I do get this warranty I might have been better off getting a newer car with manufacturers original warranty followed by cheaper insurance warranty (as below 60k miles) for a similar annual cost. Hence my question as to whether I really need it.
But the spec I wanted was hard to find so I felt I had to take what was available, even at this mileage. And I wanted it NOW
