New 05 Coupe - When is best time to buy GMPP?
08-19-2005, 10:33 AM
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New 05 Coupe - When is best time to buy GMPP?
I just purchased a 2005 Vette Coupe last week. I have been thinking of buying an extended warranty GMPP. It seems you can get the new car price GMPP upto 12 months/12k mile GMPP at a discount over the 24-36 months/24k-36k.
When is the best time to purchase a GMPP (i.e. maximize coverage/minimize costs)?
1) Now, asap.
2) Month 11 under 12k miles.
3) Month 35 under 36k miles.
From what I can see, option 2 is best, you get an extra 11 months/11.9k miles all for the same price as buying it now.
When is the best time to purchase a GMPP (i.e. maximize coverage/minimize costs)?
1) Now, asap.
2) Month 11 under 12k miles.
3) Month 35 under 36k miles.
From what I can see, option 2 is best, you get an extra 11 months/11.9k miles all for the same price as buying it now.
08-22-2005, 04:40 PM
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Originally Posted by gene33414
I just purchased a 2005 Vette Coupe last week. I have been thinking of buying an extended warranty GMPP. It seems you can get the new car price GMPP upto 12 months/12k mile GMPP at a discount over the 24-36 months/24k-36k.
When is the best time to purchase a GMPP (i.e. maximize coverage/minimize costs)?
1) Now, asap.
2) Month 11 under 12k miles.
3) Month 35 under 36k miles.
From what I can see, option 2 is best, you get an extra 11 months/11.9k miles all for the same price as buying it now.
When is the best time to purchase a GMPP (i.e. maximize coverage/minimize costs)?
1) Now, asap.
2) Month 11 under 12k miles.
3) Month 35 under 36k miles.
From what I can see, option 2 is best, you get an extra 11 months/11.9k miles all for the same price as buying it now.
.
08-22-2005, 04:44 PM
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In 2000, the day of delivery was suppose to be the cheapest time to buy the GMPP. I am not sure if this is still so.
08-23-2005, 10:23 PM
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Other factors to consider
Here is how Ken Fichtner explained it in this April 2005 post:
ref: http://forums.corvetteforum.com/show....php?t=1066549
________________________________________ ___
You are correct: GM now defines “new” as cars and trucks that are less than one year old and have less than 12,000 miles!! Therefore, if you purchase the plan during the first year of ownership AND with an odometer less than 12000 miles, you are entitled to the new car pricing which is significantly less than if you wait and purchase the plan under the used car pricing.
BE AWARE: GM does raise the price each year on October 1 AND further GM reserves the right to raise prices at any time during the year.
Benefits of having the GM Protection Plan during the base warranty period:
I am often times asked why one should purchase the GM Protection Plan before the base warranty expires so I thought it would be beneficial to all if I published a list of some of the benefits.
* The price increases annually so waiting will without a doubt cost more.
* The price increases as miles accumulate.
* GMPP is honored at all GM dealerships versus the base warranty which is only honored at Chevrolet dealerships.
* GMPP covers a rental car if your vehicle needs 2.0 labor hours or more of repair versus the base warranty which only covers a rental if your car is disabled, in the dealership all day and then overnight.
* GMPP covers items that break or wear out versus the base warranty which only covers items that fail due to a quality or workmanship issue.
Please let us know if you have any other questions, AND thanks for your business!!
Ken Fichtner
________________________________________ ___
.
ref: http://forums.corvetteforum.com/show....php?t=1066549
________________________________________ ___
You are correct: GM now defines “new” as cars and trucks that are less than one year old and have less than 12,000 miles!! Therefore, if you purchase the plan during the first year of ownership AND with an odometer less than 12000 miles, you are entitled to the new car pricing which is significantly less than if you wait and purchase the plan under the used car pricing.
BE AWARE: GM does raise the price each year on October 1 AND further GM reserves the right to raise prices at any time during the year.
Benefits of having the GM Protection Plan during the base warranty period:
I am often times asked why one should purchase the GM Protection Plan before the base warranty expires so I thought it would be beneficial to all if I published a list of some of the benefits.
* The price increases annually so waiting will without a doubt cost more.
* The price increases as miles accumulate.
* GMPP is honored at all GM dealerships versus the base warranty which is only honored at Chevrolet dealerships.
* GMPP covers a rental car if your vehicle needs 2.0 labor hours or more of repair versus the base warranty which only covers a rental if your car is disabled, in the dealership all day and then overnight.
* GMPP covers items that break or wear out versus the base warranty which only covers items that fail due to a quality or workmanship issue.
Please let us know if you have any other questions, AND thanks for your business!!
Ken Fichtner
________________________________________ ___
.
08-24-2005, 09:15 AM
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My understanding it you get a rental if the Book says the repair should take > 2 hours. If the book says 1 hour and it takes them 4 - you lose. You also read on this forum how dealers deny that stuff is covered by MPP - define wear and define what is covered. Says, if I remember doesn't cover shocks - does that mean it doesn't cover F55 shocks that are probably very expensive to replace.
The real question is how much does it go up after 1 year. If I plan to keep the car 5 years and want to keep coverage.. If I do it at 11.99 months then I have to do a 4 year MPP. Lets say that that costs 1000 (just off the top of my head) so I'm paying 250 a year. If I do it at the 35 month mark so I need a 2 year MPP and that cost 700s, yes my last 2 years cost 350 per year but I still save 300. So the question is do I want to pay 300 for rental car if I get one and and wear replacements.
It would be really nice to know in general terms what costs for MPP change as months and mileage goes up. What 4 year costs at 11 monts, 3 years at 23 months, etc. Assuming you drive <10K per year or whatever.
The real question is how much does it go up after 1 year. If I plan to keep the car 5 years and want to keep coverage.. If I do it at 11.99 months then I have to do a 4 year MPP. Lets say that that costs 1000 (just off the top of my head) so I'm paying 250 a year. If I do it at the 35 month mark so I need a 2 year MPP and that cost 700s, yes my last 2 years cost 350 per year but I still save 300. So the question is do I want to pay 300 for rental car if I get one and and wear replacements.
It would be really nice to know in general terms what costs for MPP change as months and mileage goes up. What 4 year costs at 11 monts, 3 years at 23 months, etc. Assuming you drive <10K per year or whatever.
08-24-2005, 01:33 PM
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Originally Posted by carjon
My understanding it you get a rental if the Book says the repair should take > 2 hours. If the book says 1 hour and it takes them 4 - you lose. You also read on this forum how dealers deny that stuff is covered by MPP - define wear and define what is covered. Says, if I remember doesn't cover shocks - does that mean it doesn't cover F55 shocks that are probably very expensive to replace.
The real question is how much does it go up after 1 year. If I plan to keep the car 5 years and want to keep coverage.. If I do it at 11.99 months then I have to do a 4 year MPP. Lets say that that costs 1000 (just off the top of my head) so I'm paying 250 a year. If I do it at the 35 month mark so I need a 2 year MPP and that cost 700s, yes my last 2 years cost 350 per year but I still save 300. So the question is do I want to pay 300 for rental car if I get one and and wear replacements.
It would be really nice to know in general terms what costs for MPP change as months and mileage goes up. What 4 year costs at 11 monts, 3 years at 23 months, etc. Assuming you drive <10K per year or whatever.
The real question is how much does it go up after 1 year. If I plan to keep the car 5 years and want to keep coverage.. If I do it at 11.99 months then I have to do a 4 year MPP. Lets say that that costs 1000 (just off the top of my head) so I'm paying 250 a year. If I do it at the 35 month mark so I need a 2 year MPP and that cost 700s, yes my last 2 years cost 350 per year but I still save 300. So the question is do I want to pay 300 for rental car if I get one and and wear replacements.
It would be really nice to know in general terms what costs for MPP change as months and mileage goes up. What 4 year costs at 11 monts, 3 years at 23 months, etc. Assuming you drive <10K per year or whatever.
GM would be smart to simplify the GMPP, i.e. just tack it on to the end of warranty period.
08-24-2005, 02:01 PM
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Gmpp Timing
As I understand it from what my dealer explained to me, the maximum extended warranty period is seven years/100,000 miles from date of purchase of the GMPP. Therefore, the longer one waits up to 35 months/36,000 miles, the longer the car will be covered up to a maximum of almost 10 years and 100,000 miles (36/36 base warranty plus 7/100 GMPP). However, as noted in preceding posts, the longer the wait to buy the GMPP, the more it will cost. My plan, since I expect to hang onto the car for at least seven years and maybe longer, is to wait until the base warranty is close to expired and see how much the GMPP will cost at that time. My guess at this point is that I may be looking at as much as $5K (with a zero deductible) and maybe worse. The upside would be that since I average about 10K miles/year, I would never be without a full warranty for ten years if I keep the car that long. Even if I decide to get a new car, the GMPP is transferable for a fairly small fee which would probably enhance the value to a second owner, making it easier to sell at a higher price. If anyone who bothers to read this lengthy post thinks I am FOS, please respond including why you don't think this will work. Thanks, Will
08-24-2005, 04:39 PM
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I bought from a private party,used about six months,6,000 miles ,where do you get the insurance at? any dealer? First new vette here..well close to new.
08-24-2005, 05:18 PM
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Any GM dealer, but here are a couple of places:
website www.gmoutlet.com
or
email kenfichtner@fichtnerchevrolet.com
website www.gmoutlet.com
or
email kenfichtner@fichtnerchevrolet.com
08-24-2005, 06:16 PM
#11
Burning Brakes
If you buy from a local dealer, wait until the end of the month. Dealers are offered incentives for the number of plans they sell. The dealer for my GMC Canyon sold me the extended plan at cost on the last day of the month.
08-24-2005, 06:41 PM
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I purchased the GMPP when I got my car this year. and went with the 7/70K warranty...As it was explained by my dealer...even if I wait until the 11th month and I'm still under 12K miles, the warranty is retroactive to the date the car was in service and not from that day forward, so you aren't getting an extra year by waiting 11 months...at least that's what they told me...but then again, I had to argue with them about the whole 2 hour loaner car thing I'm entitled to as well so they may not even know what they are talking about...perhaps Ken can chime in on this.
I'm also interested in more insight on whether or not Oct 1st is a set in stone date and if the end of the month is really best...any insight is appreciated. I'm thinking about increasing mine to 84K since I'm averaging 12K miles and can only imagine what it will cost to start fixing things on this car once I pass 70K...especially considering GM only has the confidence to give their $50K car a 3/36 in the first place.
I'm also interested in more insight on whether or not Oct 1st is a set in stone date and if the end of the month is really best...any insight is appreciated. I'm thinking about increasing mine to 84K since I'm averaging 12K miles and can only imagine what it will cost to start fixing things on this car once I pass 70K...especially considering GM only has the confidence to give their $50K car a 3/36 in the first place.
09-04-2005, 09:04 PM
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i am the finance director at a dealership.. ( highest level of finance) .
The GMPP starts the day you purchase it.
Terms changes as miles go up as does price.
I plan on purchasing one for my vette. I will drive my c6 roughly 5kish a year so im going for term over miles of course.
You can pick 0, 100, or 200 deduct at time of purchase of your new vette as the miles go up, it goes to 50,100,200.
There is also a GMPP Major Guard, Value Gaurd and Basic Guard.
Each having differnt coverages, major guard being the one that just has an exclusions only and everything else covered. And Basic gaurd beng the basic powertrain stuff.
Overall, being with GM for 3 years now, I see how well this warrenty works and stand behind it 100%.
Im more than happy to share actual dealer costs VIA PM..of course you have to allow fair dealer profit.... and if ur closeby...let me sell it to you.. LOL
The GMPP starts the day you purchase it.
Terms changes as miles go up as does price.
I plan on purchasing one for my vette. I will drive my c6 roughly 5kish a year so im going for term over miles of course.
You can pick 0, 100, or 200 deduct at time of purchase of your new vette as the miles go up, it goes to 50,100,200.
There is also a GMPP Major Guard, Value Gaurd and Basic Guard.
Each having differnt coverages, major guard being the one that just has an exclusions only and everything else covered. And Basic gaurd beng the basic powertrain stuff.
Overall, being with GM for 3 years now, I see how well this warrenty works and stand behind it 100%.
Im more than happy to share actual dealer costs VIA PM..of course you have to allow fair dealer profit.... and if ur closeby...let me sell it to you.. LOL
09-04-2005, 09:49 PM
#19
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Originally Posted by Jimspeed
i am the finance director at a dealership.. ( highest level of finance) .
The GMPP starts the day you purchase it.
Terms changes as miles go up as does price.
I plan on purchasing one for my vette. I will drive my c6 roughly 5kish a year so im going for term over miles of course.
You can pick 0, 100, or 200 deduct at time of purchase of your new vette as the miles go up, it goes to 50,100,200.
There is also a GMPP Major Guard, Value Gaurd and Basic Guard.
Each having differnt coverages, major guard being the one that just has an exclusions only and everything else covered. And Basic gaurd beng the basic powertrain stuff.
Overall, being with GM for 3 years now, I see how well this warrenty works and stand behind it 100%.
Im more than happy to share actual dealer costs VIA PM..of course you have to allow fair dealer profit.... and if ur closeby...let me sell it to you.. LOL
The GMPP starts the day you purchase it.
Terms changes as miles go up as does price.
I plan on purchasing one for my vette. I will drive my c6 roughly 5kish a year so im going for term over miles of course.
You can pick 0, 100, or 200 deduct at time of purchase of your new vette as the miles go up, it goes to 50,100,200.
There is also a GMPP Major Guard, Value Gaurd and Basic Guard.
Each having differnt coverages, major guard being the one that just has an exclusions only and everything else covered. And Basic gaurd beng the basic powertrain stuff.
Overall, being with GM for 3 years now, I see how well this warrenty works and stand behind it 100%.
Im more than happy to share actual dealer costs VIA PM..of course you have to allow fair dealer profit.... and if ur closeby...let me sell it to you.. LOL
FH
09-05-2005, 12:14 AM
#20
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Thanks for the several mentions.
We have sold thousands of GM Protection Plans to CorvetteForum members.
We pride ourselves on offering the lowest prices, without sales tax. Email us for a hassle free quote.
gmpp@fichtnerchevrolet.com
We accept all major credit cards as a form of payment.
The best time to buy the plan is on the 364th day of ownership and with less than 12000 miles.
THE PRICES WILL BE INCREASING ON OCTOBER 1 SO YOU MIGHT CONSIDER PURCHASING THE PLAN THIS MONTH!
Ken Fichtner, Dealer
Fichtner Chevrolet
We have sold thousands of GM Protection Plans to CorvetteForum members.
We pride ourselves on offering the lowest prices, without sales tax. Email us for a hassle free quote.
gmpp@fichtnerchevrolet.com
We accept all major credit cards as a form of payment.
The best time to buy the plan is on the 364th day of ownership and with less than 12000 miles.
THE PRICES WILL BE INCREASING ON OCTOBER 1 SO YOU MIGHT CONSIDER PURCHASING THE PLAN THIS MONTH!
Ken Fichtner, Dealer
Fichtner Chevrolet