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GMPP - A Ripoff?

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Old Nov 26, 2007 | 09:50 PM
  #21  
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Originally Posted by MNVette
I just got my first GMPP offer in the mail from GM. Putting aside for a moment that I still have 18 months left on my bumper-to-bumper warranty (the folks who offer the GMPP apparently don't speak with GM itself to check the mileage on the cars being pitched the GMPP), here's what they told me (this is for a car with under 24,000 miles):

1. "Basic Guard" (only covers the powertrain) - $1,330.00
2. "Value Guard" (adds some stuff) - $1,615.00
3. "Major Guard" (covers even more stuff) - $1,755.00

These all have a $100 deductible for every repair.

If your car has over 24,000 miles, then the prices are as follows:

1. "Basic Guard" - $1,745.00
2. "Value Guard" - $2,225.00
3. "Major Guard" - $2,470.00

Now, my 2006 didn't get the 5 year warranty; it only has 3/36. But, it seems to me that these is a total ripoff. Assuming you keep your car for years and years (which most Vette owners don't do), how can someone justify these prices? And, if there is a deal to be made with one of the Forum dealers on these prices, it tells me that the whole concept is a bunch of .

Thoughts?
The price varies depending on the covered miles and months. I don't see here where it says how long or how many miles they wre proposing at this price.
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Old Nov 26, 2007 | 10:08 PM
  #22  
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Originally Posted by turmat
I recommend you wait 11 1/2 months and buy it from Ken Fichtner. MUCH better prices and you MAY need it.


Ken is the man re GMPP.. Much better pricing than that 'offered' by GM via the mail stalking.

The vast majority of people buying GMPP wait til month 11.5 - thus maximizing the value of the 'major guard' warranty and minimizing the overlap with the bumper to bumper 36 month warranty.

I'm buying one - it will easily pay for itself (even if I sell )

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Old Nov 26, 2007 | 10:15 PM
  #23  
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My warranty is up in January so I decided to go for the 48/40/100.
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Old Nov 26, 2007 | 10:35 PM
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I am WAY AHEAD by always getting the GMPP Major Guard. I am a high mileage Vette guy. Have had this on my last 4 Vettes (91,96,01, and current 05). 05 currently has 66,000 plus miles with 90k mile warranty.

My 01 had around $14,000 in GMPP warranty work. The C6 around $2500 so far and I payed far less than what you were quoted. ( I also have had no major problems with the C6 ...in example, power seat quit. Found wire was pinched. GMPP fixed. Dealer cost was $300, I paid $100 Few months ago was difficult to downshift to first gear. GMPP replaced first gear and replaced syncros. Cost to me $100 and now shifts great). I wouldn't buy a Vette without it

Is it a rip off? For me "NO"....Is the cost negotiatable? For me "it always has been".
Suggest shop it and get it ! Good luck !!!

Last edited by xlr8rvette; Nov 26, 2007 at 10:37 PM.
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Old Nov 26, 2007 | 10:46 PM
  #25  
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Both the Vette and the Acadia we just bought, came with a gm extend warranty, and I like it, we had it on our Olds MV, and it was handy acouple times.
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Old Nov 27, 2007 | 12:38 AM
  #26  
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Originally Posted by HIRISC


Ken is the man re GMPP.. Much better pricing than that 'offered' by GM via the mail stalking.

The vast majority of people buying GMPP wait til month 11.5 - thus maximizing the value of the 'major guard' warranty and minimizing the overlap with the bumper to bumper 36 month warranty.

I'm buying one - it will easily pay for itself (even if I sell )

Take a good hard look at the disc pricing from the preferred vendors. A couple of years down the road you will kick yourself if you do not jump on the disc pricing with GMPP. In my opinion, don't even consider any aftermarket warrs, as I believe they are replete with escape clauses. Any service writer or service mgr can verify what I have just said about aftermarket warrs.

As far as GMPP being of value, keep in mind that a/c repairs sometimes cost $900. Window repair is about $500. Every manufact has problems with windows.
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Old Nov 27, 2007 | 12:52 AM
  #27  
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Originally Posted by z06Bigbird
Take a good hard look at the disc pricing from the preferred vendors. A couple of years down the road you will kick yourself if you do not jump on the disc pricing with GMPP. In my opinion, don't even consider any aftermarket warrs, as I believe they are replete with escape clauses. Any service writer or service mgr can verify what I have just said about aftermarket warrs.

As far as GMPP being of value, keep in mind that a/c repairs sometimes cost $900. Window repair is about $500. Every manufact has problems with windows.

It is not the powertrain one needs to worry about in a Vette. It is the electronics. As already stated this is nothing more then insurance. It is a gamble. If you can afford 2-5K for a repair bill it is probably a good gamble. If you cannot, GMPP is a VERY good insurance policy.

Best.
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Old Nov 27, 2007 | 09:02 AM
  #28  
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For 1500-2500 I could fix a lot of problems...I would certainly pass.
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Old Nov 27, 2007 | 09:23 AM
  #29  
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Originally Posted by John's vette
I had a third party warranty on my C5 and it covered the car for 10 years or 100k miles with a $0 deductible.

I never had a problem with it paying and it was much cheaper than GMPP at the time.
Who's warranty did you get?
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Old Nov 27, 2007 | 09:29 AM
  #30  
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Thanks for all the responses. Since my car is modded to the hilt, I obviously cannot take advantage of any extended warranty (adding a supercharger is a no-no for warranty work on the powertrain). I find it interesting that a response mentioned that the poster's son tracked his car and took advantage of the extended warranty for new bearings, etc. Seems to me that either (a) the dealer that did the work is an idiot, (b) the poster is lying through his teeth to the dealer to get the work paid for, or (c) both.

Personally, I think the extended warranty is a total money grab that isn't worth much - $2k can pay for a lot of windows going bad, etc. Since my powertrain isn't covered anyway, there isn't much point, and I think that's true of anyone who has modded their Vette (headers, tune, etc.).
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Old Nov 27, 2007 | 10:26 AM
  #31  
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Originally Posted by MNVette
Thanks for all the responses. Since my car is modded to the hilt, I obviously cannot take advantage of any extended warranty (adding a supercharger is a no-no for warranty work on the powertrain). I find it interesting that a response mentioned that the poster's son tracked his car and took advantage of the extended warranty for new bearings, etc. Seems to me that either (a) the dealer that did the work is an idiot, (b) the poster is lying through his teeth to the dealer to get the work paid for, or (c) both.

Personally, I think the extended warranty is a total money grab that isn't worth much - $2k can pay for a lot of windows going bad, etc. Since my powertrain isn't covered anyway, there isn't much point, and I think that's true of anyone who has modded their Vette (headers, tune, etc.).
I see your point. But you may want to take a look at some of the electronics parts cost before you make up your mind.
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Old Nov 27, 2007 | 10:35 AM
  #32  
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at month 11.5 i plan on getting the warranty so my entire warranty is for 5 years and not just powertrain
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Old Nov 27, 2007 | 10:44 AM
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Originally Posted by johnodrake
I see your point. But you may want to take a look at some of the electronics parts cost before you make up your mind.
As I appraoch 1yr/12000 I am still debating whether to buy. What electronic parts are known to go bad? I am pretty handy with a wrench and believe I can do many repairs on my own with a $130 shop manual, especially since a diagnostic code will narrow down the problem area.

How much more are the parts on a vette vs. an Oldmobile or other GM car? I paid the dealer $400 to diagnose and replace a body control module on a Olds Intrigue. Certainly the GMPP would not be worth it on that car.

Will parts go down in price and up in aftermarket availabilty as the years go on? I paid 40 bucks on ebay for a C4 window motor - 2 hours later - good as new.

If my crappy Jeep Grand Cherokee can make it to 140,000 miles with the only repair being a $200 a/c expansion valve, then can't my C6 make it to 90,000 miles without $2000 in dealer repairs which is what it would have to incur for me to justify a $1600 GMPP policy.

People call it insurance, but I see insurance as being there for something more castostrophic. Compare risk vs. rewards:

1600 policy for 3000 in car repair bills
1600 policy for 50,000 in hospital bills
1600 policy for 200,000 burned down house
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Old Nov 27, 2007 | 10:49 AM
  #34  
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Originally Posted by C6ToGo
As I appraoch 1yr/12000 I am still debating whether to buy. What electronic parts are known to go bad? I am pretty handy with a wrench and believe I can do many repairs on my own with a $130 shop manual, especially since a diagnostic code will narrow down the problem area.

How much more are the parts on a vette vs. an Oldmobile or other GM car? I paid the dealer $400 to diagnose and replace a body control module on a Olds Intrigue. Certainly the GMPP would not be worth it on that car.

Will parts go down in price and up in aftermarket availabilty as the years go on? I paid 40 bucks on ebay for a C4 window motor - 2 hours later - good as new.

If my crappy Jeep Grand Cherokee can make it to 140,000 miles with the only repair being a $200 a/c expansion valve, then can't my C6 make it to 90,000 miles without $2000 in dealer repairs which is what it would have to incur for me to justify a $1600 GMPP policy.

People call it insurance, but I see insurance as being there for something more castostrophic. Compare risk vs. rewards:

1600 policy for 3000 in car repair bills
1600 policy for 50,000 in hospital bills
1600 policy for 200,000 burned down house
Each person has to develop his/her own risk management strategy.

My extended warranty paid for the radiator and tail lamp assembly on my BMW. The cost of the failures exceeded the cost of the warranty.
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Old Nov 27, 2007 | 11:30 AM
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If you bought your car new and are insured with Geico you can get protection for very tiny fraction of that cost.
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Old Nov 27, 2007 | 01:44 PM
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I purchased a 0 deductible GMPP for four additional years on my 9,000 mile '05 in October for $1,040 from my selling dealer. No negotiation to get this price-just their up front number. The OP numbers definitely seem high. With the electronics involved, I figured it was a no-brainer. Had one on my '97 and paid for itself on the climate control replacement alone.
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