Extended warranties
#1
Le Mans Master
Thread Starter
Extended warranties
I purchased a 3 year extended warranty 3 years ago next month when I purchased my used vette in 2012. It expires late next month and I am considering getting another extended warranty...either a 24 or 36 month with a reputable company at a reasonable price.
2 questions -
1) Are there any companies that you would definately stay away from as a result of bad personal experience?
2) Are there any that you would highly recommend - good coverage and service and easy to work with at a reasonable price?
2 questions -
1) Are there any companies that you would definately stay away from as a result of bad personal experience?
2) Are there any that you would highly recommend - good coverage and service and easy to work with at a reasonable price?
#2
Instructor
Probably better off if GM will extend a warranty for you. The reason I say that is many years ago I worked in parts at my local dealer. A couple had a car that had an aftermarket ext. warranty and they had a transmission go out, not a Vette but a small car. The cost to repair the transmission came within $50 of what a rebuilt transmission would cost which would also have a 36 month warranty but they would not go for it. They would only pay for the cost of the repair.
I only say this just as a reminder to read the fine print and do your homework before you spend big money on an ext. warranty. Just my opinion. JB
I only say this just as a reminder to read the fine print and do your homework before you spend big money on an ext. warranty. Just my opinion. JB
#3
Le Mans Master
I've not looked into it, but consumer sort of organizations seem to universally condemn extended warranties. If I were looking for one, I'd hope to find one with a high deductible like $500 which means the premium would be very low and the thing only pick up major failures.
Remember, you're bargaining at a disadvantage. The warranty company has a comprehensive database of your model's failures and you don't.
Remember, you're bargaining at a disadvantage. The warranty company has a comprehensive database of your model's failures and you don't.
#4
Melting Slicks
Member Since: May 2006
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St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15-'16
The only cars I have ever bought an extended warranty for have been my Corvettes. Besides the well known Corvette tax on parts, the problems on C6 cars (gas tank/sender malfunctions/leaks, BCM issues, etc.) make an extended warranty almost a necessity.
Maybe Ken Fitchner here on the Forum can help you out.
Maybe Ken Fitchner here on the Forum can help you out.
#5
Did you use your present warranty enough to pay for it? I know these cars sort of have a tendency to be expensive to work on, but if you haven't had any buggy failures you're probably fairly safe? Invest the money and pay for repairs from the account.
Mark
Mark
#6
Team Owner
Member Since: Mar 2004
Location: Oklahoma City OK
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C6 of Year Finalist (appearance mods) 2019
I've found extended warranties not to be worth the money. Legalized gambling really. You bet you'll have a problem, they bet you don't.
#7
Burning Brakes
It is my understanding that the factory warranty is transferable, which means 3 year/ 36k on the entire car and 5 year/ 100k on the drive train, regardless of whether you are the original owner. In which case you probably did not need an extended warranty when you bought your car, depending on the mileage and year of your car.
I bought my 2012 GS on March 2014 and did not buy any additional warranty, as it was still under the factory warranty with only 4,500 miles on the car. I am still covered on the drive train because I have not reached the 5 year mark and only have 9k in miles.
I personally would not buy an extended warranty in my case, but I don't know your mileage or the history of your car.
I bought my 2012 GS on March 2014 and did not buy any additional warranty, as it was still under the factory warranty with only 4,500 miles on the car. I am still covered on the drive train because I have not reached the 5 year mark and only have 9k in miles.
I personally would not buy an extended warranty in my case, but I don't know your mileage or the history of your car.
Last edited by db2012gs; 09-05-2015 at 12:25 AM.
#8
Racer
Are you all using "warranty" for "service" contract? I have used my service contract for $1300 when the smog light would not go out. I hate surprise costs and the service warranty is costly.....about a $1000 a year, but eliminates the surprises
#9
Safety Car
At these times I turn to Homer
after awakening from having a crayon removed from his brain (making him a genius when previously inserted) his first words were, "extended warranties, how can I lose?"
#10
Race Director
It's a GM vehicle. They're not perfect. How long do you intend to keep your vehicle? How much can/are you willing to shell out-of-pocket expenses for ANY service? About 2x to the dealer and the policy has paid for itself.
Ask me how I know.
Decisions, decisions.
#11
Melting Slicks
I am on my 2nd GMPP extended warranty. The first one I got was for 3/36 and I got the same again. With the GMPP it is accepted at all GM dealerships so I don't have to worry if something happens when I am on the road. JMO but I would only get the GMPP.
Also shop the prices at different dealerships if you can. Our local quoted me $350.00 mor then our dealership in Hammond which is a few hours away but they are the ones I take my car to anyway.
Lisa
Also shop the prices at different dealerships if you can. Our local quoted me $350.00 mor then our dealership in Hammond which is a few hours away but they are the ones I take my car to anyway.
Lisa
Last edited by C6Whatever; 09-07-2015 at 02:19 PM.
#14
Team Owner
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Location: Oklahoma City OK
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#15
Melting Slicks
I have always turned down warranties on washers, televisions and cars, except my Corvette. I'm on my second GM warranty on my 07. Just got through with a repair that more than made up for the price of the GMPP coverage. Depending on the age of your car, you may be able to get the GMPP warranty. If I could not get that one, I would pass on all others based on what I have read. I still have 12 months left on the warranty if something else comes up or it adds value if I decide to sell. I got lucky and won at the "warranty casino".
#16
Heel & Toe
I have always turned down warranties on washers, televisions and cars, except my Corvette. I'm on my second GM warranty on my 07. Just got through with a repair that more than made up for the price of the GMPP coverage. Depending on the age of your car, you may be able to get the GMPP warranty. If I could not get that one, I would pass on all others based on what I have read. I still have 12 months left on the warranty if something else comes up or it adds value if I decide to sell. I got lucky and won at the "warranty casino".
#17
Melting Slicks
#8 cyl exhaust valve spring breaks at 24k miles. Heat builds up causing intake manifold runner to distort. Intake and spring replaced.
I had a couple of threads on it last week. Anyone finding this thread, FYI codes P0300 & P0106 were displayed. Internet research show the 300 code often indicates broken valve spring.
Hope that answered things Mike.
#18
Burning Brakes
The only cars I have ever bought an extended warranty for have been my Corvettes. Besides the well known Corvette tax on parts, the problems on C6 cars (gas tank/sender malfunctions/leaks, BCM issues, etc.) make an extended warranty almost a necessity.
Maybe Ken Fitchner here on the Forum can help you out.
Maybe Ken Fitchner here on the Forum can help you out.
Made my money back on the first extended warranty. Just replaced the starter and engine wiring harness on the second extended warranty, along with other work, including a harmonic balancer, before that, and definitely made my money back and more on that warranty.
I intend to keep this car at least the next three years and 45,000 miles. I figure from here on out there will be more things needing replacement, guessing maybe a water pump, radiator possibly, etc. I don't think I will lose on it, and I sure did not on the first two.
Rick