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I just bought a 2 year extended warranty on my M5. Cost like $2800 but it covers the car bumper to bumper... I can't get out of the BMW dealership with a minor repair less than $500 so i figured this was a good investment (especially if i blow the engine on a V10 LOL!).
Apparently the warranty is tranferable and you can cancel it at any time and get some of the money back.
Just my 2 cents
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