Putting on the boxing gloves...

[ehart]

Greetings,

 

I ordered my '03 truck (GMC\2500HD\4X4\CREW\DMAX) about 6 weeks ago and I am excepting it to arrive very soon.

 

Round One: I negotiated the truck price before I ordered it so that is done.

 

Round Two:  When the truck is delivered and I go to the dealer to sign papers, here is where the "OTHER" charges come in.  I am now researching the extended warranty packages.  I know you don’t have to purchase the warranty at the time of purchase, but it makes sense if I can get the right price.

 

I was able to save almost $900 on my wife’s ’02 Nissan Xterra last month.  The dealer wanted $1599 for the best package and I was able to get it down to $690 since a friend of mind just did the same thing at a different dealer.  My friend told me that you DO NOT have to purchase an extended warranty at the dealer.  You can purchase the extended warranty at any dealer (GM dealer in my case) that has the best price.  There are even places in the Internet that sell extended warranties.

 

Did you purchase your warranty from the GM dealer?  If so, what warranty did you get and how much did you pay? Or did you purchase a warranty from the Internet?

 

Any information on purchasing a extended warranty would be greatly appreciated!

[Shaners]

An extended warranty is just an insurance policy.  It's price is very negotiable, and it can be purchased from a number of car dealers (new or used).  And you are correct when you said there are companies online that you can purchase it through.

 

Just do your homework and don't buy one from a company that isn't highly rated....

[CMNTMXR81]

From personal experience (my own as well as customers), if you buy an extended warranty, only get the GM Protection plan (for your GM vehicle of course) or if for another vehicle, a MANUFACTURER backed plan.

 

These private warranty companies can be real S.O.B.'s to deal with when a claim needs to be made.  I've had to threaten legal action to get them to cover what they were supposed to cover per their contract.

 

I know people like to get the cheapest plan or bargain down, but you sometimes get what you paid for.

[MarkD]

From personal experience (my own as well as customers), if you buy an extended warranty, only get the GM Protection plan (for your GM vehicle of course) or if for another vehicle, a MANUFACTURER backed plan.

 

Make sure you know what is included and what is not also.  I got the GMPP plan and it didn't cover much of anything.

[99silveradoz71]

Got 1 from AAA.  I haven't used it yet, but I figure they've got their name on it, so it ought to be good.

[bluenote]

A couple things to consider...

 

1.  The Duramax comes with a 100,000 mile engine warranty, although the rest of the truck only has the 3/36,000 coverage.  You would think that with the much more extensive engine warranty, an extended contract would be cheaper for the Dmax, but based on what I was told, it's the same price as if you bought the truck with the 8.1L or the 6.0L.  I personally think that's a blatant rip-off.

 

2.  Like what has already been stated, the extended warranty is just an insurance policy against potential problems beyond the factory warranty.  You may pay $500, $1000, $1500 or whatever for it and get 2 to 3 grand worth of repairs down the road.  BUT...for everyone who makes out like that, hundreds, if not thousands, of others never use the warranty (or use less than it's actual cost).  If every person who bought an extended warranty ended up using it for a total of $3000, then they would cost 4-5 grand.  They are a money-maker for the policy-writer and the dealership, which gets a kick-back.  Certainly it's a personal choice, but I think 90%+ are just throwing their money away when buying them.

[CMNTMXR81]

Certainly it's a personal choice, but I think 90%+ are just throwing their money away when buying them.

BINGO!!  

[Guest Friz]

Certainly it's a personal choice, but I think 90%+ are just throwing their money away when buying them.

BINGO!!  

You have a point, but look at it this way;

You buy insurance against an accident, right? I know that we are forced to carry insurance, but wouldn't you do it anyway? Personally, I have recieved a good deal from extended warranties. My wife's Cutlass had a lot of brake work done on the extended warranty and I had a new motor put in my truck for next to nothing.

I'll buy one every time.

See

http://www.carbuyingtips.com/download.htm

 

for more info.

[jgriffin]

Do some research on insurance policies in general.  Most financial planners (no, I'm not one!) contend the majority of consumers are over insured, typically with regard to deductibles.  Extended warranties on everything from TVs to cars are a huge profit center for the warranty company (and a large commission for the seller).

 

With your auto warranty, you need to consider how long you will be keeping the vehicle and how likely you are to need a major repair during that time.

 

I owned my previous truck for six years - the first three years were covered by the GM warranty.  During the final three years I put a grand total of $250 into repairs, saving about $1000 (extended warranty was about $1200 when offered at the time).  Throughout my lifetime I've never owned a car requiring extensive enough repairs to warrant the purchase of an extended warranty. I could have purchased a cheaper extended warranty, but these often come with deductibles and don't cover every single system in the car, so the potential benefit is reduced accordingly.

 

Had I purchased extended warranties on all my cars I would have paid somewhere in the neighborhood of $11,000 for premiums.  I have had to pay for some fairly major repairs in the past, but they have never totaled even close to $11,000.

 

I recently purchased a GMC Sierra CC SB D/A and feel more than comfortable with the 3/36000 and extended Duramax warranties.

 

If I do have to pay for something major, I have almost $11,000 in unused premiums to work with!