How many people get the Extended Warranty? Is it worth it?
#1
Racer
Thread Starter
How many people get the Extended Warranty? Is it worth it?
Is the Extended Warranty worth the cost? Who has the best price on the Extended Warranty? About what does it cost?
#2
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#3
I got it on my 16. It's worth it when you need it. It's worth it for peace of mind. Doesn't take long to spend 2000.00 worth of repairs. Will you need it? Hopefully not. My opinion,
new car, if you plan on keeping it, worth the money. Bought mine at time of purchase from GM.
new car, if you plan on keeping it, worth the money. Bought mine at time of purchase from GM.
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Skid Row Joe (08-10-2016)
#4
Team Owner
Not worth it to me. Kind of a little gamble either way, but have never had the extended warranty on any of my Vettes and fortunately have never had a problem.
#5
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Things to consider...
On 2016 and up, you have a 60,000 mile drive train warranty as well as the 36,000 mile bumper to bumper.
The extended warranty business is exactly that...a business. The goal of the business is to make a profit, which means their goal is to always make sure consumers pay more in total than what they have to pay out in total.
It's worth it when you've received an equal amount or greater of warrantied repairs as the price you paid for the warranty.
On 2016 and up, you have a 60,000 mile drive train warranty as well as the 36,000 mile bumper to bumper.
The extended warranty business is exactly that...a business. The goal of the business is to make a profit, which means their goal is to always make sure consumers pay more in total than what they have to pay out in total.
It's worth it when you've received an equal amount or greater of warrantied repairs as the price you paid for the warranty.
#6
Racer
I got the extended warranty and GAP insurance. I also got the death benefit insurance assuming that I won't die in the car itself. The factory warranty does not include labor except under certain circumstances, as I understand it. I'm pretty certain that I'll have some sort of trouble or repairs that will cause me to take it to the shop. This will give me bumper to bumper protection including labor for 7 years. I'm getting' so that I hate to work on cars now days.
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Skid Row Joe (08-09-2016)
#7
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Are you really getting "bumper to bumper" protection with these extended plans? We had testimony a few days ago from a member who had been blindsided by having to pay for a battery and a headlight because they were considered "consumable items" and not covered. Both these items are seriously expensive--it's not like the old days when a headlamp cost $4.98 and you just plugged it in.
#8
Melting Slicks
As far as I know the extended warranties are not an extension of the Bumper to Bumper warranty. There are a lot more Limitations and Exclusions in the extended warranties, You need to be sure as to what you are buying before you purchase an extended warranty. Yes, the extended warranties are a good thing for some but they are not a Bumper to Bumper thing. I would love to see GM sell an extension of the Bumper To Bumper warranty because todays cars have so many more Electronics and Gadgets that will probably fail at some point in time. .
#9
Melting Slicks
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That's how they sell it at the time of purchase.
The finance guy tells you "with all these new fangled electronics and all, you should cover yourself" knowing a new buyer is way to excited to read all the fine print. $$$
The finance guy tells you "with all these new fangled electronics and all, you should cover yourself" knowing a new buyer is way to excited to read all the fine print. $$$
#10
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I worked in IT for many years and when we first automated we were paying $15K per year just for terminal maintenance. It was outrageous. I figured out we could buy a (then very expensive) terminal every month for the maintenance fees. I went to the Board and said, "Give me half that money and you will never pay maintenance again." I bought some diagnostic tools, parts, and some spare terminals, and we acted as our own maintenance shop. Terminals turned into computers and multiplied ten fold, and we saved hundreds of thousands of dollars on maintenance because the things rarely broke out of their warranty period.
Yeah, you'll have some anecdotal failures here and there, but overall the electronic stuff will far outlast the A8's. Never be afraid of your electronics enough to put them under maintenance.
Last edited by mschuyler; 08-09-2016 at 08:24 PM.
#11
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St. Jude Donor '05
Youre nuts if you dont especially with all the electronics in these;in fact with any new cars nowadays
If youre going to pay it off and keep absolutely
Past 36k mi the last 3 new GM vehicles I had would have bankrupted me if I didnt have it. One thing to not cheap out on.
Course tires batteries wipers brakes wont be covered those are things you just gotta replace. Its that module buried under the dash that takes a dump at 40k and costs over 2k to replace you dont want to deal with, stuff like that.
If youre going to pay it off and keep absolutely
Past 36k mi the last 3 new GM vehicles I had would have bankrupted me if I didnt have it. One thing to not cheap out on.
Course tires batteries wipers brakes wont be covered those are things you just gotta replace. Its that module buried under the dash that takes a dump at 40k and costs over 2k to replace you dont want to deal with, stuff like that.
Last edited by cv67; 08-09-2016 at 08:53 PM.
#12
Safety Car
I will wait until my factory bumper to bumper is close to expiring, (3 more years). At that point, if I plan to keep the car I will purchase a GMPP Major Guard policy. Reasonable insurance against repair/replacement costs of the C7's complex systems. That piece of mind. is worth it to me.
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sdurg24 (08-10-2016)
#13
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So ask yourself this. WHY would any insurance provider sell you an extended warranty policy and be willing to give half the cost of that warranty to the selling agent, e.g. the finance guy, if he did not make a sizable profit on that transaction? You are the one providing that profit. If it makes you feel good or lessens your stress, OK. That's worth something, but don't try and say it's a rational decision.
Last edited by mschuyler; 08-09-2016 at 09:28 PM.
#14
Team Owner
My dealership offered to double my factory warranty if I do the scheduled maintenance with them......done, where do I sign up!
#15
I think it's definitely worth it on a high performance car like this w/ complicated electronics. It may not cover everything the original new car warranty covers, but they don't cover a number of "consumables" either.
Replacing a battery or headlight is the least of my worries, but they do cover all the really big ticket items. You can get a fairly long extended warranty covering most everything for a little over $1K. It's like insurance, which you may never use, but just one major repair bill will likely pay for it. If you don't ever need it, you got a very good car and should consider yourself very lucky!
Replacing a battery or headlight is the least of my worries, but they do cover all the really big ticket items. You can get a fairly long extended warranty covering most everything for a little over $1K. It's like insurance, which you may never use, but just one major repair bill will likely pay for it. If you don't ever need it, you got a very good car and should consider yourself very lucky!
Last edited by Foosh; 08-09-2016 at 10:42 PM.
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St. Jude Donor '16-'17,'22,'24
I bought the extended warranty from a forum dealership who specializes in discounting the extended GM warranty. I bought it because I have mag ride shocks and all C7s have substantially more computer operations than previous versions of Corvette. Computers are expensive to repair/replace.
OP you need to be aware of a few things if you go with an extended warranty.
1. Just because you bought a new Vette from your local dealer or a forum dealer doesn't mean you're getting the best price on an extended warranty. I bought a used C7 this year. I shopped around and found the folks on the C7 forum selling GM warranties had the best price for the best coverage.
2. If you have mag ride shocks, the only national policy I'm aware of that covers them is the GMEPP extended warranty only sold by a GM dealer.
3. Some GM dealers are selling the "GMPP" warranty. This is NOT a GM warranty. It is sold by Ally, an aftermarket extended warranty company. They are a good outfit as aftermarket goes, but not factory despite the use of the term "GMPP".
If you want to find the Corvette dealer selling the discount price for GMEPP, they are currently running a thread on the C7 For Sale section (the private for sale section).
EDIT: Try this link:
https://www.corvetteforum.com/forums...to-august.html
OP you need to be aware of a few things if you go with an extended warranty.
1. Just because you bought a new Vette from your local dealer or a forum dealer doesn't mean you're getting the best price on an extended warranty. I bought a used C7 this year. I shopped around and found the folks on the C7 forum selling GM warranties had the best price for the best coverage.
2. If you have mag ride shocks, the only national policy I'm aware of that covers them is the GMEPP extended warranty only sold by a GM dealer.
3. Some GM dealers are selling the "GMPP" warranty. This is NOT a GM warranty. It is sold by Ally, an aftermarket extended warranty company. They are a good outfit as aftermarket goes, but not factory despite the use of the term "GMPP".
If you want to find the Corvette dealer selling the discount price for GMEPP, they are currently running a thread on the C7 For Sale section (the private for sale section).
EDIT: Try this link:
https://www.corvetteforum.com/forums...to-august.html
Last edited by roadbike56; 08-09-2016 at 11:05 PM.
#17
Le Mans Master
If you own an A8 it's a no brainier, an extended warranty completely makes sense. The added benefit is if any electronic components fail you are also covered.
As for me, I have an A8 and I plan to buy an extended warranty a few months prior to the expiration of my GM factory warranty.
As for me, I have an A8 and I plan to buy an extended warranty a few months prior to the expiration of my GM factory warranty.
#18
Drifting
Either way is a gamble. Same with life insurance, or any insurance. Who can predict the future? I bought a GMPP for my C6 and totally needed it. So far, my C7 has been totally reliable. I paid $1,700 for 4 years of the top GMPP plan. Added to the factory warranty, a total of 7 years. Well worth it, IMO.
#19
Drifting
When I sold my C6, it still had one year left on the GMPP warranty, which was transferable. A great selling point.
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Foosh (08-10-2016)
#20
Race Director
I will wait until my factory bumper to bumper is close to expiring, (3 more years). At that point, if I plan to keep the car I will purchase a GMPP Major Guard policy. Reasonable insurance against repair/replacement costs of the C7's complex systems. That piece of mind. is worth it to me.
I did the same with my C6...plenty of expensive parts that could break.