Cancelling Extended Warranty

O_J_Simpson · March 14, 2016

C'mon man... You didn't notice that they slipped in a $3,000 warranty? I can understand if you are having second thoughts and want to cancel your coverage, but don't try to pin it on the dealer doing something shady. I suppose you don't remember signing that thick ass warranty contract either? Were you incapacitated at the time of your vehicle purchase?

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People who buy extended warranties are not people who do the math. People who do the math pass on the extended warranties.

josephearljones · March 14, 2016

People who buy extended warranties are not people who do the math. People who do the math pass on the extended warranties.

That's a matter of opinion, and has no bearing on the OP's claim that he was roofied before signing the docs for his truck.

I did do the math when buying my truck. Factory bumper to bumper cuts off at 3yr/36k I was able to extend that to 7yr/100k for ~$2k. So 4yrs of additional coverage, at $500/yr, to cover all of the non consumables of a $50k truck. I'm in.

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Ridersfan · March 14, 2016

There is value added in an extended warranty, you're not a fool to buy one... you're just a fool to buy a 7 year warranty on a 2 year lease is all

5.3 SLT · March 14, 2016

C'mon man... You didn't notice that they slipped in a $3,000 warranty? I can understand if you are having second thoughts and want to cancel your coverage, but don't try to pin it on the dealer doing something shady. I suppose you don't remember signing that thick ass warranty contract either? Were you incapacitated at the time of your vehicle purchase?

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I never said that I wasn't aware of the cost of warranty, just that I was unaware the warranty was not through GM. I didn't read enough into the extended warranty paperwork so that one is on me. If you had read the original post, you'd see that my question was not to get rid of the warranty but to replace it with the GM version.

People who buy extended warranties are not people who do the math. People who do the math pass on the extended warranties.

People who buy extended warranties add "peace of mind" in to the equation. For me, $3000 was not a significant add on for 10 years, 100k, bumper to bumper warranty.

josephearljones · March 14, 2016

Came across my Truck paperwork while doing taxes today and found out the dealer sold my a 3rd party extended warranty.

The ambiguous nature of this sentence lead me to believe you were unaware of purchasing a warranty at all.

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5.3 SLT · March 14, 2016

The ambiguous nature of this sentence lead me to believe you were unaware of purchasing a warranty at all.

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Fair enough, more emphasis was needed on the "3rd party extended warranty".

Silverado Steve · March 14, 2016

I know this is a bit off topic. I used to buy extended warranties, had them on my last 4 cars, then realized I pad thousands for a piece of mind and only used it once to replace an HVAC fan on my Tacoma I could of done myself for $50. I also realized if I had such doubt about the reliability of the car I'm buying, perhaps I should buy something else.

OP, what did it cost you to opt out of your extended warranty? What is it going to cost you to get into the same GM plan? Could that $$ difference pay for the most routine repair? Seeing how most of the issues people have with these trucks that come after the standard 3 yr/36K bumper to bumper fall under the drive train which is covered up to 60K-100K depending on your year, is the warranty still worth it?

hurricanoday · March 15, 2016

Peace of mind has more value to some people then others, including myself. With the low prices of these gm warranties pretty much anything that goes bad it is worth the cost. Around 1400 for a gmc warranty? I'm in also, if I had planned on keeping the truck that long

Silverado Steve · March 15, 2016

I guess I wonder why people have so much doubt about the reliability of the new vehicle they are purchasing right off the bat and why they continue to buy cars from that manufacturer. Wouldn't it then be cheaper to plop that couple of grand down and just lease every 3 years?

gcretro · November 15, 2016

Came across my truck paperwork while doing taxes today and found out the dealer sold my a 3rd party extended warranty instead of a GM extended warranty. Research on the company shows its pretty terrible and I'm looking into to cancelling and going through the actual GM plan. Truck is close to 25k miles and warranty was purchased with truck on 3/21/15.

I'm assuming I will need to work through the dealer on this, but has anyone else had any issues cancelling? Company is Care Free Car Protection from Fidelity Warranty Services.

Thanks!

Did you succeed in canceling the fidelity warranty? How did you go about do it? I just purchased a honda and the dealer finance guy somehow talked me into a service warranty for 900 bucks. I realize after researching it that is not worth it. It's only been 2 days since I bought the car, so I was wondering how I should go about cancelling it? (Fidelity has not even received the paper work)

JimCost2014 · November 15, 2016

go back to the dealer where you bought the truck with your paperwork. tell them that you want to cancel the warranty and you will speak to someone in F & I. they will then process the paperwork for the cancelation, and then in x amount of weeks you will see a credit for the prorated balance applied towards the principal of your loan.

elcamino · November 15, 2016

Consumer Report has a survey;

55% of people who bought an extended warranty never used it.
Of the 45% who did use it, on average, they spent more on the warranty than it paid for repairs.

Donstar · November 16, 2016

Insurance of any kind is for peace of mind or sometimes it is required protection. You should not buy it in hopes that you will make money on your investment. The odds are never in your favor! It is actually a tough decision. If you are not able to afford out of pocket repairs, chances are you can't afford the extended warranty! If you are in a position to afford a few repairs, then the insurance you can afford is probably not worth buying!

Havvkeye · November 16, 2016

C'mon man... You didn't notice that they slipped in a $3,000 warranty? I can understand if you are having second thoughts and want to cancel your coverage, but don't try to pin it on the dealer doing something shady. I suppose you don't remember signing that thick ass warranty contract either? Were you incapacitated at the time of your vehicle purchase?

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Notice he edited the original post so I won't be mean.