[Z06] Extended Warranty is it worth it ?
#1
Le Mans Master
Thread Starter
Extended Warranty is it worth it ?
When I took delivery of my Z06 the dealer asked if I wanted to purchase the extended warranty. I did not have it with my previous C6 so I did not see the reason for it now. The dealer says I can add it any time during the 3 year warranty but it will get more expensive each year. He could not quote how much it goes up each year. Does anybody know what percentage it goes up after each year and if it is worth it especially for a Z06 ? Comments of your experience with extended warranty ?
Last edited by b4i4getit; 01-11-2011 at 10:15 PM.
#2
#3
Le Mans Master
Thread Starter
#4
Le Mans Master
There will be some potential differences between Canada and the U.S. when it comes to extended warranty. You may wish to post this is the events and regional Canadian section as they might know more info. What I can tell you is that pricing on extended warranties may not go up each year but may go up every couple years but even if they do they don't increase by much. The extended warranties are also negotiable in that you can buy it from any store not just the one you got the car from so discounts may also apply. Also something to consider as it varies by manufacturer....if you buy an extended warranty and sell the car prior to even getting close to using it you may have lost it all. I will always wait to the last minute to before I buy another extended warranty and never again at the time of purchase. I bought 2 new 2010 Muano's last year and learned a lesson that cost me several thousand with extended warranties. wait until the final month to buy and at least determine if you even need it!
#5
Le Mans Master
Some of the aftermarket warranties try to take the cheap way out sometime's, but GMPP is rock solid. Most don't drive their Vette's much, so you can get long term/low milage coverage quite reasonably. Not sure of the Canada thing, but Fichtner Chevrolet in MT is where most go in the states. Give Dennis a call, as he probably know's about Canadian policies too. I have GMPP on my car's, as know what a single dealer repair visit can cost.
#6
Team Owner
Member Since: Apr 2001
Location: Elmhurst, IL (West Suburb of Chicago) & Home of MEGA Horsepower
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St. Jude Donor '06
Don't go the cheap route stick with the GMPP bumper to bumper extended warranty for the lowest deductible you can afford and for the LONGEST period of time you can get!
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Z5108 (02-01-2016)
#7
Warrantee from GM Canada??? Even their original warrantee means nothing, what makes you think their extended one is any better.
http://forums.corvetteforum.com/c6-z...-warranty.html
http://forums.corvetteforum.com/c6-z...-warranty.html
#8
If you don't want to face a Potential High Dollar repair bill then it's good insurance. Some don't need it due to available cash and the low risk of an issue. But if you do like that peace of mind - (I do), contact the forum dealers for a quote but wait until close to the end of your 3/36 to buy it. If you buy it now the clock starts now and you don't need double protection. Sure the cost will rise over the next year or two but the discounts the vendors here give, it's negligible.
Oh GMPP for sure and only! My last non-factory company went bankrupt and I got 10% of my orig. warranty cost back with no claims ever filed.
There are always issues with any business (below posting) but a majority of the time I have faith and have been served well by GMPP even when cashing in my last warranty when I sold the car.
Oh GMPP for sure and only! My last non-factory company went bankrupt and I got 10% of my orig. warranty cost back with no claims ever filed.
There are always issues with any business (below posting) but a majority of the time I have faith and have been served well by GMPP even when cashing in my last warranty when I sold the car.
Last edited by INFERNO Z07; 01-12-2011 at 02:44 PM.
#10
Tech Contributor
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Dealers seem to welcome working with GMPP. One thing I have learned is that GMPP does not pay for diagnostic services if no faults are found. That is on your nickel. However, over a period of 10 years on my two C5s they picked up the cost of replacing a C5 side mirror, a power seat track, a bunch of wheel bearings, tie rods, several power steering pumps, a power steering rack or two, a C5Z EBCM and BPMV all at a cost to them of much more than I paid for the two separate plans I had. Lets put it this way, I paid a total of $2500 for plans to cover my 97 followed by my 03. The ABS repair on the 03 cost them right around $3000. Of course I do use my cars a little harder than the guy who just putt putts around on the street.
Bill
Bill
#11
Another sweet deal regarding the GMPP warranty is that ANY repair shop can perform the work...your car does not need to go to a GM dealership for the repairs to be executed.
I use a local Corvette centric speedshop in Tempe, AZ for my warranty repairs as of late..knowing that my car will be kept inside of the shop at all times during the repair period and my friendship with the owner who is also a C6 Z06 owner.
I use a local Corvette centric speedshop in Tempe, AZ for my warranty repairs as of late..knowing that my car will be kept inside of the shop at all times during the repair period and my friendship with the owner who is also a C6 Z06 owner.
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#16
Drifting
#17
Burning Brakes
I have one that is due for renewal this month. Never used it and most likely will not renew ($1500). Based on the mileage I drive (about 2000 per year) I don't think it's worth it.
#18
When I took delivery of my Z06 the dealer asked if I wanted to purchase the extended warranty. I did not have it with my previous C6 so I did not see the reason for it now. The dealer says I can add it any time during the 3 year warranty but it will get more expensive each year. He could not quote how much it goes up each year. Does anybody know what percentage it goes up after each year and if it is worth it especially for a Z06 ? Comments of your experience with extended warranty ?
#19
Drifting
On average, the consumer loses when it comes to extended warranties. They've got them priced so that, on average, they take in more than they pay out. Similar to how your auto & home insurance companies stay in business. It's your decision, based on your circumstances, as to whether you'd like to purchase a policy.
80% of people lose out when they pay for health insurance. Why would this be any different?
Anyways, I guess I'm one of the 20%. I paid 1800 for a warranty on my Nissan, and it paid for approximately the same amount in parts and labor.
This is why I opted to do so again on my Z06. 4 years 75k miles for ~2k, not bad.