Extended Warranties...good or bad idea?
#1
Racer
Thread Starter
Extended Warranties...good or bad idea?
Now that my '14 is out of bumper to bumper warranty coverage every time some little thing acts up, I can't help but think, what would it cost to fix this or that?
Does anyone have any recommendations or experience with extended warranties?
Is there such a thing through GM, dealer or only those 3rd party warranties?
Or are they all just ripoffs where you end up paying a lot just to find out your particular issues are not covered?
Does anyone have any recommendations or experience with extended warranties?
Is there such a thing through GM, dealer or only those 3rd party warranties?
Or are they all just ripoffs where you end up paying a lot just to find out your particular issues are not covered?
#2
Melting Slicks
If you will keep the car long enough to have use of the warranty * AND * you don't want to just save up some cash during the period up until then to cover electronics repair since that would likely be the only thing to fail outside of the original warranty period then it * MIGHT * be worth it.
People who had to use it will say "Yes" and people who have not had to use it will say * No*.
People who had to use it will say "Yes" and people who have not had to use it will say * No*.
#3
Race Director
Member Since: Mar 2001
Location: Bonneville Salt Flats, 223mph Aug. '04
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The data are clear and consistent... a waste of money in nearly all instances. Why do you think the sellers like them so much???
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dvilin (12-14-2017)
#4
Melting Slicks
You had a better opportunity to purchase it just prior to it going out of the bumper to bumper warranty.... Search the forums for Fichtner and talk to them on the phone to figure out if you think it is worth it in your mind.
#5
Drifting
The dealer gave 1/2 off on my extended warranty so it's 7 years or 50,000 miles and mine is a 14 or the 1st year model !!! I did buy an extended for my 1990 chevy Lumina also a 1st model and it was worth the money and if I remember it was about the same price as my vette !!! Wayne
#7
Safety Car
Member Since: Oct 2012
Location: Austin Texas
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St. Jude Donor '15
I waited until I had 35,975 miles on my '15 before I got the GMEPP so I am good until I hit 110,975, by then I will be riding in a different vehicle, either the new M.E. or a hearse. Both of which would be new to me...LOL.
I have bought the extended for car I have owned. I had a "99 Camaro SS and the tranny (6 speed )went bye bye with 74,000+ on he speedo and it was replaced without a bit of trouble. It would have cost me over 6K so that was a good investment for me. My C6 had no issues after the B to B expired but my "98 c5 was a nightmare.
It is nice that they are offered and that we have a choice but it is a to each his own type of decision. I recommend it...but that is me.
I have bought the extended for car I have owned. I had a "99 Camaro SS and the tranny (6 speed )went bye bye with 74,000+ on he speedo and it was replaced without a bit of trouble. It would have cost me over 6K so that was a good investment for me. My C6 had no issues after the B to B expired but my "98 c5 was a nightmare.
It is nice that they are offered and that we have a choice but it is a to each his own type of decision. I recommend it...but that is me.
#8
Team Owner
#9
Le Mans Master
You will get people that love them and those that don't. I've had a number of cars that went out of warranty and never purchased one. In the long run I would have needed a major catastrophy to even break even (if it was covered...).
My single experience isn't statistically significant. After reading many of these threads I think it comes down to whether the piece of mind of having one keeps you enjoying the car longer.
My single experience isn't statistically significant. After reading many of these threads I think it comes down to whether the piece of mind of having one keeps you enjoying the car longer.
#10
It's like all insurance. You're protecting against catastrophe. Your house is probably not going to burn down either, but I don't know many without homeowner's insurance.
I was very happy to have the GM extended warranty on my '06 Z06, when my LS7 self-destructed. I received a new $15K engine for $0.
I was very happy to have the GM extended warranty on my '06 Z06, when my LS7 self-destructed. I received a new $15K engine for $0.
#11
Melting Slicks
My neighbor is a Chevy/GM tech.He states that the most trouble/problems they see is electronics....and they are expensive.
On my fmr C5Z, I had an ABS sensor go out,$900.Glad I had an extended warranty.That one repair was more than the cost of the warranty.
When I get down to my last yr on my C7 warranty,I will buy the GMEPP.
\db2
Last edited by dbaker; 12-14-2017 at 07:20 PM.
#14
Race Director
It's like all insurance. You're protecting against catastrophe. Your house is probably not going to burn down either, but I don't know many without homeowner's insurance.
I was very happy to have the GM extended warranty on my '06 Z06, when my LS7 self-destructed. I received a new $15K engine for $0.
I was very happy to have the GM extended warranty on my '06 Z06, when my LS7 self-destructed. I received a new $15K engine for $0.
I don't typically purchase extended warranties and it's worked out in my favor so far.
Last edited by Kevin A Jones; 12-14-2017 at 08:24 PM.
#15
Le Mans Master
Companies don't offer it because they lose money on it...
#16
#18
Race Director
Normally I pass on them. But in a high tech car like the Vette I elected to go with one. I have no issue wrenching on a car but some of the repairs I could foresee on the Vette I either did not have the tools to do or they take forever in labor.
I just had had to have the fuel sending unit replaced on my C6 and the cost with labor would have been right around 1500. My GMEPP cost 2200 so almost any repair done in the next two years pays for it.
I know they can be a crap shoot but for piece of mind alone on the Vette I would do it again.
I just had had to have the fuel sending unit replaced on my C6 and the cost with labor would have been right around 1500. My GMEPP cost 2200 so almost any repair done in the next two years pays for it.
I know they can be a crap shoot but for piece of mind alone on the Vette I would do it again.
#20
Le Mans Master
It is a bit too late for you to get the GM plan since your BTB expired. Going through Dennis would have been the way to go just before it expired. It is definitely needed if you think you will be keeping the car past the expiration of the power train warranty and if you have an A8!!!!
Of course, don't bother dreaming about any power train mods if you get one.
Of course, don't bother dreaming about any power train mods if you get one.
Last edited by Flame Red; 12-15-2017 at 10:53 AM.