2007 BMW 530xi, Do I need the extended warranty?

Asked by May 10, 2014 at 01:07 AM about the 2007 BMW 5 Series 530xi

Question type: Maintenance & Repair

Just purchased the used 2007 BMW 530xi, it has 75000mi on it.  Bought it from Audi
dealership.  Just wonder is it worth to purchase the extended warranty for 24
month/24000mi with the cost of $3850?  I have included it the contract, but if it's not
needed, I have 60 days to cancel.

Thanks!

2 Answers

217,735

I personally don't like them. Most times they don't cover what fails or goes wrong anyway. Put the money away that you would pay on the warranty and use that if you need it for repairs. Just my opinion.

20,535

I agree with Tom, word for word- I would add, that buying a used car is a gamble, and a BMW is cool, but can be expensive if it needs a major repair- this is why the rich folks (richer than me) buy the German cars new, then unload them after 6 or 7 years- even though they have the money, they know how to gamble, and they play the odds because they do not want those enormous (potential) repair bills- if you and I are buying their "throw aways" the odds are considerably worse for us- so forgo the expensive "warranty" (which is certain money for the dealership and the warranty company)- but understand, you are gambling with big money and it COULD turn around and bite you-

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