How much added value is a Platinum EPP?
Thread Starter
Instructor
Joined: May 2005
Posts: 140
Likes: 47
How much added value is a Platinum EPP?
I am selling my 2014 C7, M7, Z51, performance exhaust, MRC, LT2, cyber grey with carbon flash package, NAV, 25,000 miles, excellent condition. Question I have is, "How much, if anything, extra is 3years 8 months of GM Platinum EPP worth?
Apologies if the answer is available, but I did several searches and got no hits.
Apologies if the answer is available, but I did several searches and got no hits.
Last edited by NAV; Mar 10, 2020 at 12:11 AM. Reason: Fix title
Safety Car
Joined: May 2006
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From: Shelton, Connecticut
St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15-'16
The company that issued the original contract should be able to tell you what the turn in value is if you were to cancel now.
I used the Fitchners to get the GMPP and it was pro-rated for the time left on the contract.
I used the Fitchners to get the GMPP and it was pro-rated for the time left on the contract.
Thread Starter
Instructor
Joined: May 2005
Posts: 140
Likes: 47
Yes, I know how to calculate the residual value of the GM EPP but what I am trying to find out is how much extra would a prospective buyer pay me for my C7 with it vs losing its value trading the C7 because you can not transfer the EPP if you sell the car to a dealer or trade the car in.
Drifting
Joined: May 2018
Posts: 1,478
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From: Houston Texas
I would price a similar contract with the same remaining tenor and mileage to it. You may not get an exact match on remaining tenor and mileage, but you can likely interpolate the cost. The value to a buyer would be no more than this. Compare it to the surrender value. The chances of finding a buyer who would want the same tenor and mileage is pretty low.
Team Owner
Joined: Oct 2004
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There's no way to calculate what it's worth to a potential buyer. However, it may make it easier to sell if you offer to transfer the coverage to a new owner. It's also a good negotiating point when someone tries to talk you down in price. I doubt most folks will pay "more," but it will make your car more attractive than one without warranty coverage.
Last edited by Foosh; Mar 10, 2020 at 11:57 AM.
Team Owner
Joined: Aug 2006
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From: Raleigh
I can tell you when I sold mine to Carvana and also got trade in quotes they could care less about the EPP. I cashed it in.
As for a private buyer I doubt it would be significant but might help sell it quicker.
As for a private buyer I doubt it would be significant but might help sell it quicker.
Safety Car
Joined: Feb 2007
Posts: 4,939
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From: CHOCOWINITY NC
Certified Pre-owned cars on the market typically are priced at 1000-1500 more than a car without. You're essentially buying a warranty (and piece of mind). Personally, with the general reliably of Corvettes in the past few years, this would be worthless to me..
Last edited by Modshack; Mar 10, 2020 at 12:12 PM.
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Team Owner
Joined: Oct 2004
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It was a selling point on my C6 Z06 some years back. I didn't get a better price, but the buyer was willing to purchase sight unseen (other than high quality photos) and traveled from AZ to the DC metro to pick it up and drove it home. He cited the warranty as the reason he'd pay my price, and wouldn't purchase a Z06 without.
About a year later, the LS7 self-destructed, and he got a new engine at no charge.
About a year later, the LS7 self-destructed, and he got a new engine at no charge.
Last edited by Foosh; Mar 10, 2020 at 12:23 PM.
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Your plan of action sounds like the best route to take. Hope it will help in the sale of your car.
Race Director
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From: Holly Springs NC
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Yeah, I'd follow what Foosh said. If someone offers you less money, counter with "OK, but then I'm not going to transfer the warranty". That puts you in a better negotiating position to counter with a number that you like.