Bill Dearborn

I am a firm believer in not purchasing the coverage when you purchase the car. All you are doing is paying for coverage you don't need over the first three years and will need after those years are gone. Purchase the all inclusive 0 deductible plan just before the B2B warranty runs out. Yes, it will cost more three years later but you will have 3 years more coverage and that is worth more than the added cost of the purchase. If you purchase an 84 month (7 years) plan the day you buy the car you will have 84 years coverage. If you purchase an 84 month plan one month before the B2B warranty expires you will have 119 months coverage. For all intents and purposes that means you have a 10 year B2B warranty on the car.

If you are somebody who puts a lot of miles on a car in the first three years and have over 24K miles on the car at the time the B2B expires you will be limited in the number of months added coverage you can get. I think that may be 48 more months at least it was on the old GMPP plans.

I average around 4500 miles per year on my Vettes so I choose the most months with the least amount of mileage that takes me from my current mileage to what I would have 7 years later. That way the extended warranty times out at about the same point as it would if it exceeded the mileage limit. That limits the total expense of the extension.

Bill

jcthorne

GM does not offer a 10 year plan.

jcthorne

The difference was GM actually went bankrupt. All old GM stock and lots of other financial liabilities evaporated into thin air.

3 Z06ZR1

IMO is a feel good move now but it is actually a waste of money and 90-100 percent chance you will never use it.

davepl

Can't say I agree on this one, because I planned in advance to keep the car longer than 3 years. So it is more cost effective to buy the warranty up front.

The reasons are simple - when a car is new they can offer you a rate where the risk or amortized across ALL new cars they cover. But when you buy coverage for an older car it is self-selecting (ie: people with problematic cars are more likely to apply). So the rates are logically higher after purchase.

If you don't know how long you're keeping the car, I can see waiting. But if you know it's a six-year car, I think it's a significant savings to buy up front.

Proof is in the pudding - I'm now at that point (3 years) where it matters, and had I not purchased it when I did, there's no way I could get that coverage for anywhere near that price today!

You're right, I had to go look at the paperwork, but mine is "Cornerstone". I bought it from the GM dealer in the GM office for my GM car, but it might be total garbage. I don't remember being high or drunk or anything, but I did buy an extended warranty which is totally out of character for me anyway! It'll be interesting to see if if ever works out.

At a minimum, you sure can't price-compare mine to a GM warranty.

My dealership also offers a "lifetime warranty" on every new vehicle they sell on the radio, but that might not include Corvettes. For my Tahoe I have paperwork for that, but not for the Corvette.

jcthorne

In reality, at least in my case, it worked out the same both ways.

I priced a 6yr 60k mile plan when I bought the car. Never purchased until recently as my base warranty will expire next month. 3yr 36k plan which starts on day of purchase and works out to the same time frame for coverage was less than $100 difference from the price if purchased at time of car. That and they did not have my money for 3 years. Mine is GMEPP.

Redc8z06

I tend to agree that purchasing an extended warranty is in "most" cases a waste of money.

But like anything there are exceptions, in my case I step back and looked at it this way. I'm buying a $100,000 car. I planned on keeping for more than 3 years. Even so I didn't buy it so much for myself but for the next owner.

I looked at it this way if I decided to sell the car year 5 for example wouldn't it be nice if I could give the new owner a warranty and make it easier on both parties in selling and buying? Again we are talking about a very expensive car here. Also if I traded in the car instead and never used the extended warranty you can always cash it in and get some money back so in the end how much did it really cost you?

Also let's face it a single service repair can cost more than the extended warranty cost.

So again agree generally they are a waste of money.

But as a buyer if I had 2 cars to choose from one with a warranty and one without which would you buy.....

SuperdadZ06

you live in NJ and purchased a warranty from a dealership in Michigan? Did you buy the car from them as well?

Mr. Gizmo

NASTYC7

My 15 is past the B2B warranty.. Do they still offer it since the original expired? Getting close to 25k miles too..

RichieRichZ06

Feel free to reach out via email ( r.willhoff@yahoo.com ) for extremely competitive pricing on the Chevrolet Extended Protection, commonly referred to as GMEPP. I sell a lot of them and will be happy to save you money on any available contract.

Please include your VIN and current mileage in any requests sent via email.



Rich Willhoff
Service and Parts Director
Abel Chevrolet Buick

Stingcan

I love Chevy and am passionate about their cars and you are correct - every one including a 2014 2500hd requires one larger repair per year. My Camry on the otherhand is a 2009 v6 with 300000 miles and has required nothing but brakes and oil and still runs like new... downside is it kills me each time I drive it as it is as exciting as operating a refrigerator. I wish other brands built durable cars like toyota.

brentonh27

What company did you use for your warranty?

Bill Dearborn

I imagine he purchased the GMEPP plan. That is what I did. The only plans that are excellent are the ones offered by the automaker. If you see a plan that gives you a long list of things they cover stay away from it. Look for plans that provide a list of what they do not cover. If something isn't on that not covered list it is covered. GMEPP provides a list of what isn't covered on the web page.

I have had two repairs the service writer at the dealership didn't think would be covered. His experience was mostly with the plans the dealership sold. Mine was the first GMEPP coverage and he was surprised when they covered the repairs. He just kept saying that is a Good Plan. One was a bad passenger side headlight LED on the Corvette which required replacement of the headlight module and I can't remember what the other one was for sure but I think it was the driver's side inflatable lumbar/bolster support system.

Bill

C7.R 004

I have purchased several policies from Dennis Fichtner.
He is at Laurel Chevrolet in Laurel, MT.
406-628-4618 office
406-698-6355 cell
dfichtner@laurelchevy.com
I usually choose the most time with fewest miles. 84 months/70,000 miles.
Chev Protection Plan. Platinum with $0 deductible.
I have used the coverage 3 times. No issues.
IIRC.
It is a genuine Chev plan, administered by a third party.
Transferable($75 fee) to an individual. Not a dealer.
Unused coverage is refundable.
Dennis needs the VIN and current mileage to email a quote.
He knows his stuff and responds quickly.

garye

where?

Bill Dearborn

I didn't just refer to Chevy when I said one repair per year. On average every make requires one repair per year. Even with brands that historically only see 60 failures per 100 cars that means any individual car has a 0.6 chance of having a failure. Since there is no such thing as a partial failure that means each car has the potential for 1 failure per year. Since we are talking averages that means some will see none and some others will see a lot more than 1 but most will fall in the 1 category. I based that on the JD Power 3 year Dependability Studies which looks at three year old cars. Not sure why they chose 3 years but I suspect that is the assumed time most warranties end and when most infant mortality issues have been wrung out of the cars based on usage. At that point, the cars have their highest reliability and longest mean time between failures until they begin to reach the end of life many years/miles down the road.

Corvettes don't fit into that mix well since most first owners don't use them sufficiently to get them out of the infant mortality region so they might experience more failures in the third year. Low-mile cars aren't all that great from a reliability standpoint.

Bill