Your take: Is extended warranty worth it?

[twoplustwo]

Im on the fence on whether I should buy an extended warranty on my ordered 2015 CC Denali.

Everything is covered for 3 years, and here in Canada an extra 2 years of coverage will cost me an additional 3K.

(I believe most of the power train components are covered for 5 years)

 

So my question is is it worth the extra $1500 a year for peace of mind? Did you purchase one?

 

[Isriam]

depends on the price. for 3k probably not. you can negotiate lower prices, usually like 50% of that.

[ecardinal]

+1

 

$3k seems really high. My dealer wanted $1,400 USD for the 2 year B2B extended warranty. That's around $1,600 canadian.

[LongrangeLauber]

I got mine for about 2k and figured if anything goes out non powertrain between 36k and 100k it will pay for itself in one visit basically. Such as if the Mylink went out in my truck, that covers the cost. Or even the ECM, TCM, etc.

 

Sent while in 'Murica...

[Clocked92]

Im in Canada and the Extended warranties are 100% negotiable. The told me for and extra 3 years it would be $3k. I told them thats way too much.

 

Turns out the warranty they first offer you is like 3 extra years, max 150,000km and $0 deductible.

 

I knew I wouldn't drive 150000k in 6 years so I got it lowered to 100,000 with I think $150 deductible. I think it ended up costing me $2000 instead of the $3000 they originally offered me.

 

I think it's worth it just beause of all the electronic systems in these new trucks. Plus labour rates are $90/hr. Anything goes wrong after 3 years and you're toast if you don't have extended warranty.

[LongrangeLauber]

 

 

I think it's worth it just beause of all the electronic systems in these new trucks. Plus labour rates are $90/hr. Anything goes wrong after 3 years and you're toast if you don't have extended warranty.

This [emoji108]

 

 

 

Sent while in 'Murica...

[Silverado-Hareek]

I paid about $1,800 for mine that got me a 6 year/90,000 mile powertrain warranty which takes the manufacturer warranty of 100,000 mile/5 year from 20,000 miles driven a year to 15,000 miles a year which is more in line with what I do. After my transmission went out on my 2007 at 5.5 years/84,000 miles costing me $2200 in repairs, I wasn't dealing with that again. In some ways it's a rip off. In others it's peace of mind, especially with a 5 year note...I should get a payment free year without having to pay for repairs. We'll see. Live and learn I guess.

[txchevy4ever]

I'll share my experience with my last two Chevy's.

 

I had a 2000 4wd Tahoe LT that I drove 107,000 miles and sold in Jan 2006. I bought a 2006 Z71 Tahoe and just sold it in late December with about 80k miles and purchased a LTZ Z71 2015 Silverado.

 

I did not purchase extended warranties on either Tahoe nor my new Silverado. My 2000 Tahoe had a water pump go out in the mid 80k mile range, and I replaced a pulley for $19 in my 2006. Those are the only repairs either vehicle ever needed. My experience has been very positive and I can't see the need for an extended warranty though 6 years.

[Silverado-Hareek]

I'll share my experience with my last two Chevy's.

 

I had a 2000 4wd Tahoe LT that I drove 107,000 miles and sold in Jan 2006. I bought a 2006 Z71 Tahoe and just sold it in late December with about 80k miles and purchased a LTZ Z71 2015 Silverado.

 

I did not purchase extended warranties on either Tahoe nor my new Silverado. My 2000 Tahoe had a water pump go out in the mid 80k mile range, and I replaced a pulley for $19 in my 2006. Those are the only repairs either vehicle ever needed. My experience has been very positive and I can't see the need for an extended warranty though 6 years.

 

Yeah you had GM trucks from the "Golden Years." 2007 was a garbage year for GM and it took them about 3 more model years after that to figure out how to stop the engines from burning oil and failing. My buddy is in the process of getting the engine replaced right now on his 2010 Sierra that only has 80,000 miles on it. If the 2014+ trucks prove to be reliable again, you were one of the lucky ones to miss the dark ages entirely. After the experience with my 2007, I'm on eggshells with the 2014. Time will tell......

[txchevy4ever]

No doubt... I had just had a very positive experience. Each vehicle is a different animal, and can be bad. My fingers are crossed as well.

[Silverado-Hareek]

No doubt... I had just had a very positive experience. Each vehicle is a different animal, and can be bad. My fingers are crossed as well.

 

Yeah I mean my dad has a 2003 Suburban with a 110k flawless miles on it. He has less frame rust on his Suburban than I do on my 2014. In some ways, they just don't make these trucks like they used to. In others, they're much better. I dunno. I definitely would feel more comfortable in your 2015 than a 2014 that's for sure. If my 2007 wasn't burning oil I would still be driving it while GM works out the kinks on the new K2 trucks. The fact that I got one earlier than expected drove me to get the warranty. The warranty also helped lower my interest rate to 1.45% so that helped a little.

[txchevy4ever]

It definitely makes sense in some cases, no doubt. Here's to hoping my 2015 is as good as my last two.

[KARNUT]

Just add up all the money you spend on extended warranties and didn't need, that should answer your question. Im older and had to learn the hard way for awhile. But I learned.

[Skeeter McSkeet]

I purchased a 5 year bumper to bumper one myself, extra $9 a month I think is what it came out to.

 

While I was in the process of paperwork my cousin that works at the delearship told me a guy had an electrical issue on his 14my Sierra the day before; and it cost him right around 3k for parts/labor. I'm sure that was a taxed out price, but To me if one thing goes wrong with all this crazy electronic stuff in these new trucks, your warranty may cost less total than the charge for a simple malfunction fix.

 

I hope I never have to use the warranty, but I'll sure be glad I bought it if something goes wrong. I was also told that a lot of the people who request the extended bumper to bumper are mechanics for a living. Problem is they don't have the knowledge or the equipment required to diagnose and work on these new trucks. I trust my cousin there as I've bought several vehicles from him in the past, and this is the first extended warranty he recommended I purchase. If someone else was telling me to get one I may be skeptical since I've never bought one before this.

 

 

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[Langer19]

You can purchase a GMPP plan at any time within the 3 year New Vehicle limited warranty period....so instead of paying the $3000 to get only an extra 2 years of warranty, you can wait until you're in the 2nd or 3rd year of your New Vehicle warranty to purchase a GMPP plan and then you will be covered for 7-8 years.