Tried buying an extended warranty - no luck
#1
Le Mans Master
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Tried buying an extended warranty - no luck
I contacted one of the forum dealers that many have bought extended warranties from, and wrote they had a good buying experience.
I read a post from the dealer I contacted, and read that the warranty does not go into effect for 30 days. I can live with that.
The part that threw me for a loop was IN ADDITION to that exclusion, you must put 1,000 miles on the car before a claim can be made.
I'm more of a collector, and drive my Vettes very little. I sold my 2004 Z06 Commemorative Edition which I bought new, and after 12 years,
only had 1,500 miles on it. So what I'm saying is I am unable to purchase an extended warranty because I drive my car too little.
Go figure. My factory b2b expires in 10 days, so I really wanted to buy one.
It's not the dealer's fault, but I guess too many people were trying to buy the warranty after having a problem, and using the warranty
right away. I certainly can't blame the company writing the warranties. There are always those that have to try and beat the system.
I read a post from the dealer I contacted, and read that the warranty does not go into effect for 30 days. I can live with that.
The part that threw me for a loop was IN ADDITION to that exclusion, you must put 1,000 miles on the car before a claim can be made.
I'm more of a collector, and drive my Vettes very little. I sold my 2004 Z06 Commemorative Edition which I bought new, and after 12 years,
only had 1,500 miles on it. So what I'm saying is I am unable to purchase an extended warranty because I drive my car too little.
Go figure. My factory b2b expires in 10 days, so I really wanted to buy one.
It's not the dealer's fault, but I guess too many people were trying to buy the warranty after having a problem, and using the warranty
right away. I certainly can't blame the company writing the warranties. There are always those that have to try and beat the system.
#2
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St. Jude Donor '11-'12-'13, '16-'17-'18
Never heard of such a thing.
Which warranty and which dealer?
Which warranty and which dealer?
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#4
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St. Jude Donor '11-'12-'13, '16-'17-'18
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St. Jude Donor '15
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I think you've waited too long to take up options, but give it a try. The former GM sponsored "extended warranty" was called GMPP and is run by Ally Financial. See who is selling that one if you're interested. It may not be the same criteria.
#7
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I think that's a good recommendation for the OP. He might have to have the car inspected before they write the warranty, but that's no big deal. Ally used to write the GM program and many dealers kept them for their used cars when GM broke away from Ally. Also, Ally is reputable unlike so many of the warranty programs out there. If I didn't have GMEPP, I'd have gotten Ally. One difference is magnetic ride control shocks. Ally did not include them when I was buying my extended warranty but GMEPP did include them. Otherwise, the two programs were pretty close.
#8
Le Mans Master
It is said that the only stupid question is the one you don't ask: Ergo..... if you drive your cars but a few hundred miles per year why do even want an extended warranty?
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#9
Melting Slicks
Wow, I thought I read everything. I was aware of the 30 days, but not the 1000 miles. Oh well doesn't matter anyways I already have over 4800 miles on my 2019 Z I also bought mine the time of the purchase, not right before the B2B was going to expire, because they said if I did that it would be more $$$ so I figured if I was going to do it why wait.
Last edited by mdolandese; 01-15-2019 at 09:13 PM.
#10
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In my opinion, you lucked out.
Look up any objective evaluation of extended auto warranties and see consistently that the cost-to-benefit ratio is not advantageous. Certainly, like everything anyone talks about, there is no shortage of what researchers call the "man who" phenomenon. Everyone knows someone it paid-off for. Sure, right.
Look up any objective evaluation of extended auto warranties and see consistently that the cost-to-benefit ratio is not advantageous. Certainly, like everything anyone talks about, there is no shortage of what researchers call the "man who" phenomenon. Everyone knows someone it paid-off for. Sure, right.
#11
Le Mans Master
Since you collect your cars, instead of paying for extended warranties, why not just put $1,000 or so aside as a maintenance fund? That'll probably handle 90+% of repair work, and will save you a lot of money over time.
Have a good one,
Mike
Have a good one,
Mike
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#12
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We put lots of miles on our Corvettes and stuff breaks, so we're in a different position from you and the Chevrolet plan works well for us. But if you want the warranty, try Ally and compare to Chevrolet Protection Plan. Buy whatever works for you. Or skip the warranty and take your good chances on not needing it with low miles.
Remember that having to drive 1,000 miles before the coverage take effect, is an excuse for a road trip when the weather is nice.
EDIT: Weather is always nice in your area unless there's a hurricane in town.
Last edited by Gearhead Jim; 01-15-2019 at 10:10 PM.
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When I bought my '14 (used), it was explained to me that I had to purchase the warranty (GMEPP) within 10 days of the car purchase or there was a waiting period of 30 days and 1K miles.
#14
Melting Slicks
Makes sense, sort of eliminates buying the warranty after transmission fails.
#15
Drifting
To the OP, you could take a 1,000 mile trip. I would not think there is much difference in trade in value for 1,000 miles on a really low mileage car. I wonder about the economics of buying a warranty where the cost would be spread over so few miles. It is not as if you can buy a three year, three thousand mile warranty. It sounds like you would be buying a lot of unused coverage on the mileage side.
#16
I can get you those miles in a month, just drop it off Remember you do not need all the miles before the original runs out, just need them before you take it in for warranty work....
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What the OP states is true, I also checked into a warranty when I bought my current car. Its not the 30 days that hurt me, it was the 1,000 mile minimum which may take me 1 year to get to
#18
Le Mans Master
+1 Given how much you drive, the risk of needing a warranty is much lower than most.
#19
Team Owner
Based on how little you drive your Vette you really have no need for an extended warranty. But your money to spend or perhaps waste.
#20
Le Mans Master
Thread Starter
Things are going to break whether you use the car or not, at least in my experience. Sitting around is not good for the car.
But that's what I choose to do. Most likely will not find a warranty to suit my needs.