I am thinking of buying an extended warranty for my C5. Anyone have any experience with One Source Warranty? Any other suggestions on warranties?

 

Warranty Direct...7 yrs/60K miles...$1200

 

I know it's not the common belief here on the forum but extended warranties are one of the biggest ripoffs around. Your betting your car will brake down and they are betting it won't. My position is if you can afford the repairs as they crop up then don't even consider the warranty. Read the posts here and you'll see that most repairs people talk about the Vette needing are less than $1000. Rarily do you hear about someone needing a transmission or even clutch (which most warranties don't cover) replaced. The few engine repairs I've read about were due more to mods than wear.

Take the cost of that warranty and put it in a bank account earmarked for repairs. I'll bet you have at least a grand left to put down on your next Vette. Just my .02!

 

But what if someone is planning on keeping their car long-term???
The price of the extended warranty sure seems like a bargain considering the time-frame you get with it. Chances are if you get the warranty , you will have a heck of alot more then a grand in the bank when the time comes to make a down payment on a new ride.

I screwed up and got the warranty when I bought the car. But I would have still gotten the warranty before the original one ended.

If you lease the car , then its a NO-BRAINER. No extended warranty.

Just my thoughts on the issue.

 

It's my understanding that the 7yr / 60,000 mile warranty is from the original service date. I've been told this is the fact with the GM but I don't know about the others. That means if he's paying $1200 for the warranty he's paying $500 for every 1,000 miles he puts on the car because he has a 3yr / 36,000 already. I'm sure someone will correct me if I'm wrong and I admittedly might be.

 

Ok....you get 3/36.....so a 7/60 would have 4 years and 24k miles left. So , wouldnt it mean your paying $300 for each year of the extended warranty? Average usage being an additional 6k miles for each year after the original 3. From reading about this topic on the forum for the past 5 months, I think you have until your original warranty is about to expire to purchase an GMPP extended warranty. Which I think would be the best option. I didnt read this forum prior to buying my 04 , so like I mentioned I obtained the warranty when I paid for the car. Also , there are other and probably better extended warranties that you can get instead of the GMPP.
Dont quote me on ANY OF THIS , since I am only recalling what I have read here.

Stay safe Sgt.

 

Bought GMPP from Ken Fichner (see his vendor pages on CF). As long as you are still within the factory 3-yr/36,000 warranty you can buy a GMPP. What I like about GMPP is you can go any Chevy dealer (probably any GM dealer) and they will have your GMPP online. My one warranty experience with GMPP was painless except for the deductible.

 

I bought a GMPP major $0 deductable just before my warranty ran out end of October.
This added 4 years and an additional 32,000 miles (as I had 10,000 at the time of purchase it now goes to 42,000). It is also transferable.
You can also work out a price just as you would buying a car. I was lucky as my brother in law was the sales person. The warranty cost me $750 plus tax.

Murph

 

I just asked this same question last week. A couple of people responded that had taken out the warranty from 1 Source and the results were mixed. The other major company out there, besides GMPP, is Warranty Direct. I got copies of both contracts, spoke with customer service (i.e. sales) and then sat down and compared the two plans for coverage, exclusions, etc. IMO, Warranty Direct had the better terms. I should be getting a call from them tomorrow about the final details to get my coverage in place.

Yes, you are banking on having breakdowns and the warranty company is banking that you don't. But, my current existing warranty has paid for itself in just one breakdown (leaking gasket between transmission and differential - $660). Doesn't take a major component to fail to cost a good chunk of money.

Obviously it is your decision, but for me, I like the peace of mind the warranty offers - especially since I plan to keep the car for a while.

 

I've been doing compairison shopping also. Warranty Direct seems to be the better choice for me. Quoted me 4 year-100,000 mile $0 deduct for $2430 Terms are 30% down then 10 equal payments with $3.50 service charge per payment.

 

I have Warranty Direct ..
Read this: http://www.carbuyingtips.com/warranty.htm
I bought Warranty Direct 3 years ago... 7 years 100,000 miles zero deductible bumper to bumper... for 1200 dollars... I paid 200 dollars the first month then 100 dollars a month for the next 10 months... with no interest..
Warranty Direct is one of the oldest extended warranty companies in the country... they were writing extended warranties years before GM and Ford ever got into the extended warranty business.. Their D&B rating is "A" Superior.. which is the highest you can get... To date : I have used them six times.. Water pump, oil sending unit, Door control Module, and Headlight actuator control motor..[alternator, belt tensioner and idler pulley ](this was one claim ), and just this week a new seat adjuster.. they had paid over 3,000 dollars in claims so far , and always with a thank you and, we will be here for you if you need us again... And the Best Part is I do Not have to take it to the dealer...Although many dealers will take this warranty because it actually pays them 40 % more for labor than GM pays them... I don't have to deal with people that know less about a Corvette than I do.... No dealer 18 year old Lot jockeys lighting up my tires... No inept techs working on my car... no threats or hassles from a guy that was working at McDonald the year before.. MY repair guy has been in business 40 years.. can do anything GM can do... he doesn't have any kids working for him... I can watch... My repair shop told me that Warranty Direct is the best warranty company he has ever worked with... he even Now has his personal cars covered by them.. Never a penny out of my pocket... MY guy calls Warranty direct to open a claim... he repairs the car... calls me when it is done.. submits his repair bill Via a fax to Warranty Direct, and he gets paid right on the spot via corporate credit card,,, just as if I gave him my credit card,,,
I still have four years and 50,000 miles left on this warranty... it would be worth 6 to 800 dollars to anyone who would buy my car... if I decided to sell it.. Would I do it again...? in a heart beat !


Experience
Well over 1.5 million contracts sold.
Over $400 million in claims paid.
Over 800,000 claims paid.
Over 9,000 claims handled every month.

Stability
A Forbes Magazine Top 200 Company- three times.
Over $140 million in assets, mostly in insured claims reserve accounts.
Celebrating our 25th year in business and 10 years on the Internet.

Reliability
Over 18,000 dealers and repair facilities do business with Warranty Direct.
Over 2,200 car dealers, banks and credit unions sell our coverage.
ZERO Better Business Bureau complaints in the past 16 months.
That is over 144,000 claims without one single complaint..
Licensed and approved to do business in all 50 states.

Coverage
It's a Wear and Tear Warranty not a breakdown only warranty
A breakdown warranty means the car has to be broken to be fixed
A Wear and Tear Warranty is much better, because something could be failing, and still be fixed.. e.g.. alternator bearing starting to go bad..
A Wear and Tear claim will fix this before you get stuck..
A Breakdown Warranty means you have to be stuck somewhere before they will fix it.
The industry's most comprehensive coverage.
Wear and tear, seal and gaskets, overheating- all covered!
No restrictive, vague or fuzzy contract language.

 

FWIW....I have http://www.warrantybynet.com/ Got it back in 2001 for $699 - 5 year till 2006, 50K, Premier coverage with road service, hotel coverage ect, transferable, & can use any shop or dealer, plus financed free for one year on credit card which was really nice.

 

I have a 2002 coupe with 15,695 miles, factory warranty expires 6/15/05. Warranty Direct was the better choice for me. Quoted me 6 year-60,000 mile $0 deduct for $1430 which includes emmissions. Terms are 30% down then 10 equal payments with $3.50 service charge per payment. The extended warranty brings me to 11/22/2010 and 60,000 miles. A great feature about this warranty is that you have piece of mind regarding major repairs should they be needed and it is an even greater value should you decide to sell your vehicle.
Mac

 

======================================== ==========
[QUOTE=F.J.B.]Ok....you get 3/36.....so a 7/60 would have 4 years and 24k miles left...

Wrong...
you may have 4 years left after 3 years(of the original warranty) but in my case it would be like 40,000+ miles left since I will not have 36K miles on mine after 3 years...the time element is my enemy not the miles...

It was me who got the 84 month/60K(including emissions parts and labor) mile extended warranty...($0 deductible )

My 84 months starts right now... so that means 48 months from when the original GM warranty expires...and the milage starts right now no matter what I had on it when I got the extended warranty so that means 60,000 miles from now...and if I had waited until I used the GM warranty almost up at 36,000/36 months the extended warranty would have had 2 automatic yearly increases and would have also cost a lot more because of higher milage/time...so in effect it is much better to get the extended warranty with as low milage/time on your Vette as you can..(and I only had 2650 miles on mine when I got the extended warranty...)If I would have bought it when I had near 0 miles then my policy would have been even cheaper then I got it for.
Bottom line is that I am now covered for 84 months total time and 60,000 miles total milage from right now.....If I need a new wheel bearing its like $750...or a new a/c compressor its like $1000...or my ABS screws up its like $3500..the outside heated mirrors are like $400 each....and labor is like $75 to $100 per hour...(not to mention the $5-7K for 20 parts in the emmissions system that can go bad that are not covered in the original GM plan)so by the end of the original warranty(36K/36mo. ) the parts and labor will be even more...and on and on and on....so now tell me I wasted $1250 for 4 extra years or at least 40K+ extra miles...

That $1200 will be recooped on my first visit to the dealer...(of course thats after the 36k miles/36 months has expired)....and believe me when I say that I will get every new part that I can legitimately get...

Heres an example good for you... when I got an extended warranty on my '95 for $2200(4yr/48K miles...I thought I got ripped off at the time )...within the 4 yr. period of the extended warranty I got $6-7K worth of parts and labor(to enclude wheel bearings, calipers, H20 pump, optispark, outside mirrors, all u-joints, radiator, window regulators with motors and more plus labor)...so I really do think it was worth the $2200 I paid for the warranty

Sory this post was so long but it took some explaining...

 

No post is too long when the information is something we can benefit from!!!!!!

 

Thanks....

 

F.J.B.>>>>>>>>>>>>>"Mods:
Carpets, License Plate frame, Exhaust Plate, Hood Seal (all preformance related)."

"all performance related"
...now thats funny....

 

Evil

How are they on modded cars. Will they replace my 3.42 gears on my A4. How about if my Kooks leak. Or god forbid my Tunnel Plate comes loose. Wonder if Andy does seat belt tensioners...

You sold me....

 

If you have mods.....forgetaboutit

 

For every person that says a warranty saved there a**, there are probably 100 that never used theirs or got screwed by deductables, mods, exceptions, ect. "Extended arranties" are HUGE moneymakers for the "insurance companies." I figured I saved almost enough not buying over the last 20 years to buy my 98 conv ($18k) - just my .02 -