firstgear

Bought a new Z06 and while I am not a fan of extended warrantys I am thinking of making an exception in this case....standard warranty is 3 years 36,000 miles.....extended is 5 years, 100,000 miles.

MY 2003 Z06 only has 16,000 miles, so I wont put the miles on it.....what did other owners do?

mstone61

I got it, but negotiated the price down to $3,400.

firstgear

good to know....thanks!

Foxer55

Wait! That warranty begins the day you buy it and is running in parallel with your OEM warranty. It will run out before you ever need to use it and end about the time your OEM warranty runs out. Wait until your OEM warranty about ends and then buy the warranty. I made that mistake and on a car and came up way short. You're just throwing money down a rat hole and making some insurance guy rich at your expense if you buy it now.

flatout vette

Got my extended warranty,chevrolet protection plan, 84months 75000miles 0 deduction for $1975

Foxer55

Read your contract. I bet you paid for about 3 years and 36,000 miles of warranty that the OEM warranty covers.

LPE385

Ding Ding Ding we have a winner. Just wait 2 years 9-11 months and then get your extended.

flatout vette

This seems kind of high. You can purchase this at any Chevrolet dealer not just where you bought the vette. Shop around.

firstgear

that seems logical......

SMFCPACFP

Extended warranties are probably the highest profit margin product dealerships sell. When I owned a dealership, most of our extended warranties had about the same markup as diamonds at a jeweler had 1,000%. Unless GM has a different model a $4,000 warranty costs them about $400.

I would never buy an extended warranty. I self insure. Of all of the products that I have ever purchased, only one time would it have paid off to have the extended warranty (a computer monitor).

FirehawkTA

So you are telling me when you buy a typical extended warranty it is for miles & months from the time you buy the warranty? I thought it was from the in-service time (zero miles) of the car. So if you buy a 60k mile warranty when you have 20k on the car it will cover up to 80k miles (same idea for months)?

Also, when we are comparing prices paid for extended warranties we need to consider what is covered. I have seen many "bumper to bumper" warranties that had tons of exclusions. I would like one that covers all the main stuff plus electronics, trim, and diagnosis.

mdz06vetter

You also really want one that covers wheels/tires as they are quite $$$$$

LPE385

I know this to be true for GMPP extended warranties.

What I'm saying is for example, when you buy a 5 year extended warranty when the car is new your only really getting 2 years. The car is covered 3 year/36 bumper to bumper. The powertrain is covered
5 year/ 100,000 miles. You really have double coverage when its not necessary.

Again this is for a Z06, so most will not make their cars high miles. I know some do but most will be lower miles. I think in 5/6 years most cars will be under 25,000 miles. Today you really don't see too many 2009/2010 ZR-1's over 25,000 miles.

Either way your extended warranty starts the day you buy your new car.

Why wouldn't someone wait until a couple months before your factory warranty runs out to extend it.

PANHANDLE96CE

I agree with the others here to wait until your 3yr/36000 is about to expire and then purchase one. Also since you don't seem to drive it much, years are more important to you than miles. I got same warranty on my Silverado as Flatout (84mo/75000) for roughly the same price as he paid.

FirehawkTA

<snip>

I did know that part, but what I didn't know is that if you buy a 5 year typical warranty when your car is 2 years old it will cover until your car is 7 years old? This is not how a warranty worked that I bought once.

Thanks for the help. This isn't really what the OP was asking, but I hate to start yet another ext. warranty thread.

RichieRichZ06

Purchasing the extended warranty at the time you purchase the new vehicle will always be cheaper than waiting until the base warranty is about to expire. Another thing to keep in mind is that you can always extend the warranty a couple more years for a lesser price. The markup on extended warranties is not as much as some are speculating, but many dealers (especially those trying to sell for $4,000) are making some money on them. Most will use double the cost as their negotiated price, but start much higher.

Redc8z06

10 year, 75000 mile, 0 deductible for $1995 from the dealer.

wgcatlga

Smart man (or woman).

Foxer55

Yeah, but so what...? The car is new and has a 3 yr/36K mile warranty and if you buy a 5 year warranty, that warranty is in affect from day one. That means while GM is covering your warranty for 3 years you are also paying for a warranty for that three years and in three years you only have two years of warranty left on your extended warranty. You paid a 5 year fee for two years of coverage. Now how smart is that?

Foxer55

No. You paid $1995 for 7 years of coverage. GM is already covering you for the first 3 years. Why are you paying for 3 years you'll never use?