KenHorse

Thanks for the correction

Fly'n Family

Just curious under this scenario if something like these are covered, or if you've modded the engine of your car EVERYTHING is null and void.

- Electrical items
- computers

things of that nature that have nothing to do if you did a H/C type package.

Covered or not covered under an extended GMPP warranty?

tmjvett2009

I got it on my Caddy and Corvette and the Caddy has already paid for itself with one problem. The piece of mind is worth something in its self.

Ketchum

No extended service contract is fond or user friendly for mods. They write the policys for stock vehicles. I understand your point like a window motor or regulator etc. should be covered regardless of engine or trans mods. More then likely you can get such covered.

Walt White Coupe

Just like health insurance.

With economic conclusions like this, I often wonder how some people ever made enough money to buy a Corvette in the first place.

fnbrowning

Yes, you are correct. Extended warranties are for suckers who do not have the intelligence to self-insure. The alert owner will set some seed money aside for major repairs, and add to it slowly over time. It's quite unlikely that they will have a catastrophic failure, and before too long, they will have more than enough dough for repairs.

The great part is that that money stays invested with the owner, and GMPP = Gimme More Profit People doesn't get their grimy hands on it.

HAD2HAV2

If you bought your Vette new from GM dealership, can you get a private extended warrantry from this dealership? The dealer sold me a dealership warranty and Lo-Jack for a great price.

Ketchum

"Dealership' service contracts are not underwritten by the manufacture. They can be a pain to deal with. A Lot of repair shops don't want to deal with them at all. They also like to use aftermarket,re-man ,used parts and so on. Service contracts through the manufacture are the way to go.

Ketchum

Some people make enough money to self insure and don't bother with insurance. Others buy it to hedge their bets.

Walt White Coupe

I'd say if you make enough money to buy a Corvette you probably make enough money to fix it when it breaks. You should only buy insurance if the potential loss would affect your life style. That's why health insurance makes sense and extended warranties don't.

widgetsupply

So, are you trying to pull the rug out from under our insecurities?

Ketchum

In this economy I wonder how many Corvette and other high end vehicle owners a few thousand dollars would affect their lifestyle drastically. For what I paid for my break down policy's it was a good investment. My GMPP has already broke even. Plus mine is transferable when I go to sell the Corvette which will be soon. My 2009 Dodge 1500 power train and hi tech items are covered a 'lifetime'. Lifetime Hi tech policy was $1500. Not transferable. If this truck dosen't get wrecked or stolen and if I'm still alive (or wife says I'm alive. LOL ) I'll be driving it 15 years or so. Price on the Chrysler policy's was great. They were begging to sell policy and truck. I bought truck for $10,000 off MSRP plus they paid sales tax. That was almost $13,000 off the truck. Gran Marquis the policy was a super price and its transferable.. Ford store was begging to sell car and policy. Sold the last of the Gran Marquis for $10,000 off Msrp. Full boot hi tech policy was $1500. Wife insisted on policy. I paid cash for all my vehicles. Everything I own is paid for. Everything. Just like health insurance. My health insurance has put out about $1 million dollars on me since 2007.

Walt White Coupe

And let me say "you're welcome" to you from me and all the others out here who through their buying health insurance has kept you alive since 2007. To date at age 67, I'd have been better off even without health insurance.

Ketchum

Never thought I'd need it. Same with extended service contracts on my vehicles. Next thing that will pay off is my life insurance. Seriously. I handled thousands of dollars weekly in GMPP claims in one small dealer. In a Chrysler dealer with 35 techs, warranty made up 10% of repaires, Chrysler service contracts made up another 10% and the rest was customer pay and internal. I left the business in 2001. I was in it 25 plus years. I remember when warranty was 12/12 and factory helped with nothing. Out of warranty was out of warranty. There was no service contracts. Vehicles were no where near the caliper they are now.

lilcajun

ghost.223

Something that no one has mentioned and maybe its just me but i drive a vehicle differently when its under a warranty. I tend to have more fun with it

exracer28

If you don't have a clue on how the car works go ahead and get the warranty. There are good aftermarket warranty plans offered by credit unions but it is a money maker for the seller. I grew up in a time where we had to know how to work on a car to be able to keep it running and if you never heard of using a match book cover to adjust points then you have not lived. I feel that we have way too many car operators that do not know enough about how the car works and those folks I do not feel are true drivers and would be better off spending their money on car maintenance classes. Why do pilots learn so much about the airplane before they spend any time in the air. When was the last time you did a preflight check on your car? Do you know what a new sound means, a difference in ride or so many other conditions that make a difference between being an operator and being a driver.

While I do not think most people need to be as much as a nut as I am you do need to know the way cars work, know the sounds/feel of the vehicle and what to look at when it changes. Look at the post on this forum asking how change a brake pad and while I like the idea that the person wants to learn and I will help as much as I can with proper driver training it be so much easier to make that person go from an operator to a driver.

For me the extended warranty is an additional profit point for the dealer and a gamble for the buyer. The buyer is gambling that he will not be able to repair a condition that will cost more than the cost of the warranty. Don't forget when you try to use that wonderful extended warranty the warranty company has the right to force you to prove you have maintained the car IAW the puplished guide and you have documation to back it up.

It comes down to are you a check writter or a DYI type person and for now in this country we still have that choice. A look to the future may be like what BMW is doing, their new cars do not have a dip stick to check the oil.

Sorry for the rant but I have been stuck in bed for a week waiting for the medicial practice field to guess on what is wrong and I even have three extended warranty plans (three health insurance plans). This is my 1st day back on line and can't stop typing. make it stop......

fnbrowning

And want to add something to that number of people have claimed their GMPP "paid for itself" or nearly paid for itself. Notice If your GMPP paid or nearly paid for itself, you've lost money! Had you invested the insurance amount yourself, chances are you'd be ahead of the game now.

For instance, if you would have invested in any of a dozen well-managed High Yield Corporate Bond funds, that have historically provided excellent long-term returns and low volatility, you would have easily made over 8% in the last five years.

If you are one paycheck away from a financial disaster, any sports car, with or without extended warranty, is not for you. If you manage your money and have the discretionary income for a Vette, then self insurance is better than blindly giving money to a car warranty company.

Walt White Coupe

their new cars do not have a dip stick to check the oil.


I'm in agreement in almost everything you said and I've got the same experience. For years and years I done almost all of my own maintenance for three reasons, to save money, to make sure the job was done right and it usually took less time. Now, I'll just do brakes and rotors.

But, I have a new 135i BMW without the dip stick. It has a warning light if the oil goes (I think) a half quart low. And it has an electric level sensor that you can bring up on the dashboard if you want. To me that's progress. A dip stick is kind of crude system. And I don't think it advances your point. What may be more appropriate is that the car comes with a 4 year, 50,000 mile "all maintenance" free warranty for everything from oil changes to wiper blades.

Ketchum

I'll say it again. For the most part the service contracts underwritten by other then the car manufacture stink. They also go out of business. The manufacture policy's did survive a bad shake up. The aftermarket are just a bit better than nothing. They do not have YOU as a customer to their brand and their product. Factory policy's do. The aftermarket policy's are out to save themselves money. Your not going to buy from them again. A broken transmission ,which seems a lot of vette manuals go south. A broken ac compressor or a powersteering leak and you'd be thankful for a service contract. A broken harmonic balancer at 90,000 miles etc. Once more. Its just like health insurance. Oh and I do drive my car different then with no warranty.