Extended Warranty for 2001 740iL

[Bussman]

Hello,

first post from a complete newbie...have mercy please! After being inspired over the years by several ultimate driving experiences in Germany on business trips (most recently in a Z4..too bad they ran out of Opels..) I just made my first foray into the world of BMW ownership. Bought a 2001 740il with 77,000 miles. Everything seems to work, runs great, and I love the way it looks, handles and runs.

My question to the forum members, who for the most part have forgotten more BMW knowledge than I have: should I get an extended warranty? The local BMW dealer has quoted me $3200 for a 36/36 bumper to bumper warranty. Sure it seems like a lot of money, but I'm tempted to pony up for 3 years of (relative) piece of mind. I've read enough repair horror stories to be concerned. I was able to buy the car for a fair amount less than book value, so i could pay the $3200 and still have a good cost basis.

Any real-world experience on repair expenses for this vintage appreciated...I have a feeling it may inspire me to invest in the insurance.

Many thanks,

Bussman

[saltshaker185]

to the werkz! and my question to you is... how experienced are you with cars? that might determine if i would sugest you get the warrenty or not...

[Bussman]

I really haven't done much work on my cars over the years...as a matter of fact almost none. I am willing to get my hands dirty on simple stuff in I can do in the driveway like replacing a battery, changing a fuse, checking fluids, jumpstarting, etc. but do not plan to do any substantial maintenance or repair work myself. I'm looking at the extended warranty as insurance to protect me against risk of a major , costly failure of engine, transmission, electrical system, or whatever maladies 2001 740's with 77K miles may be prone to.

Bussman

[Dirty_Tool]

Extended warranty is a good thing to have. $3200 seems a bit steep but is prob a normal price when purchasing a warr on a car with that high of mileage. $3200 is a lot of work when you break it down however sometimes it makes more sense to pay that extra $30 a month to ensure that you dont get hit with a $1500 suprise at a bad time. Its really a hard call. Id say go for the warranty if for nothing else just peace of mind.
Good luck

[Bussman]

Thanks Dirty Tool...I'm leaning towards getting a warranty and am doing a lot of research. So far I've found that the extended warranty business is a dirty game with a lot of shady companies. If anybody has had experience with anywarranty providers, good or bad, please post.

Bussman