Some Good GMEPP Extended Warranty Info

[Shredzy]

I'm all for warranties; I've had bought many used vehicles and the warranties paid for themselves usually within the first repair.

 

So I bought my 2015 Silverado new so it gets the 3 year bumper-to-bumper, 5 year powertrain and all the other warranties that would come with a new vehicle. With that being said, what would be the advantage of purchasing extended protection at this time? Wouldn't I buy it as my bumper-to-bumper expires? I don't even remember the salesman offering it to me at the point of sale.

 

I am told that buying it sooner rather than later during the 3/36 period allows you a better purchase price & to avoid any price increases.

[jasch1124]

 

I am told that buying it sooner rather than later during the 3/36 period allows you a better purchase price & to avoid any price increases.

But from what I understand you lose or have double coverage while the bumper to bumper was in effect. For example, I buy the truck new with the 3 year warranty, if I buy a 5 year at time of purchase it's 5 years from date of purchase not in addition to the 3 years. So you're really only paying for 2 additional years which would make sense why it would be cheaper now then later. If I buy it now I'd be covered for 5 years. If I bought the warranty later I'd be covered for a total of 8 years. Correct me if I'm wrong.

 

 

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[Shredzy]

Let's say you buy a 7 year/100k mile warranty. So you get an additional 4 years and 64,000 coverage.

 

No matter when you buy the warranty(which must be purchased within the first 3 years or 36k miles, whichever comes first), it takes the first 3/36 and adds the remaining time & mileage you choose.

[jasch1124]

Let's say you buy a 7 year/100k mile warranty. So you get an additional 4 years and 64,000 coverage.

 

No matter when you buy the warranty(which must be purchased within the first 3 years or 36k miles, whichever comes first), it takes the first 3/36 and adds the remaining time & mileage you choose.

That's what I was trying to explain in my post above yours. You just did it in a lot less words. [emoji4]

 

When you buy a warranty, it starts from the day you buy it, date and mileage. So of course an extended warranty would be cheaper now, you're only buying an additional 2 years even if they're disguising it as a 5 year.

 

Again I firmly believe in warranties, but it doesn't make sense to me to purchase it at the time of sale. I will extend it for 5 years at the end of the bumper to bumper.

 

 

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[magnum74]

This 2015 is the first truck I've ever bought extended warranty on. It's a work truck now but will likely stay in my barn when it's time for a new worker.

 

My 2014 Ram had an axle seal go out and took $3,000+ worth of stuff with it including some sensors. Luckily, the axle seal was still under mechanical warranty so the dealer did well by me and covered the repairs but this would've played out a lot different if I had hit the 100,000km driveline limit.

 

I also had a 2008 Vortec Max that needed major transfer case work toward the end of it's warranty period.

 

Two of our Tundra work trucks (when I was working for a company) had major issues covered under extended warranties.

 

I've been lucky overall. No matter what I've owned I've had few major issues. I ran a 2003 Cummins HO/auto for close to 400,000km's in just over 3 years on the original driveline. I only had to replace front end, u-joints and the ridiculously cheap and undersized lift pump (with a FASS).

 

The driveline on the 2015 Denali isn't a concern but all the sensors, relays, harnesses etc. something is bound to go wrong long term.

 

If I get rid of the truck I can transfer or get reimbursed for the remaining warranty. The cost is nothing especially on a vehicle that pays for itself.

 

Maybe it's my older, sensible self making these decisions now lol

[Shredzy]

I got an online quote on a warranty for the '15 Sierra 1500 crew cab 4wd I'll be picking up tomorrow.

 

As I don't put a lot of miles on the truck, I looked at the length of time so for a 84 month/56k mile warranty.

 

$0 deductible is $1455 (About $364/year for the additional warranty)

 

$100 deductible is $1250 ($313/year for the additional warranty coverage)

 

Will see what kind of pricing my selling dealer will throw out for the warranty.

I'll ask them if there is much of a difference in cost if I were to wait out until the end of the 3rd year.

[jasch1124]

I got an online quote on a warranty for the '15 Sierra 1500 crew cab 4wd I'll be picking up tomorrow.

 

As I don't put a lot of miles on the truck, I looked at the length of time so for a 84 month/56k mile warranty.

 

$0 deductible is $1455 (About $364/year for the additional warranty)

 

$100 deductible is $1250 ($313/year for the additional warranty coverage)

 

Will see what kind of pricing my selling dealer will throw out for the warranty.

I'll ask them if there is much of a difference in cost if I were to wait out until the end of the 3rd year.

Congrats Shredzy on the new truck!!!!

 

They probably won't give you a price on what it may be 3 years from now and even if they did, they'd make sure to make it look like the better deal is to take it now. $1500 sounds about right even for extending the warranty an additional few years when you're at the end of your bumper-to-bumper. Maybe call a dealership or two and get a quote for extending a warranty on a 2012 Silverado and see what prices they give. A 2012 Silverado, which would be 3 years old now, may give an idea to what your warranty will cost down the line.

 

My advice would be to weigh it out carefully. That 84 month warranty is really only a 48 month warranty since you'd be walking away with the 36 month warranty if you chose not to get the warranty now. The math you did already shows you knew that.

 

Regardless let us know what happens (or doesn't)

[RobZ71LM7]

Extended warranties are for suckers. There I said it. They are huge profit cow for the dealer. If you think you need an extended warranty then buy a better vehicle.

[jasch1124]

Extended warranties are for suckers. There I said it. They are huge profit cow for the dealer. If you think you need an extended warranty then buy a better vehicle.

I can agree with you to some extent. If they didn't make money, they wouldn't offer it. However in my experience, I've made claims on every warranty I've purchased for a used vehicle so far which otherwise would have cost me more. It's always worked out in my favor.

 

I don't think I'd purchase an extended warranty on a new vehicle that already has a Bumper-to-Bumper; I just can't wrap my head around that concept.

[14GMCZ71]

I purchased the GM Protection Plan ( Major Guard ) at the time I purchased my 14 Sierra in August of 2014.

 

I only drive about 7,500 miles per year so my plan is 84 / 56 - 84 Months ( 7 Years ) / 56,000 Miles with a $200.00 deductible.

 

The plan cost $1,445.00 plus tax ( $104.76 ) - Total $1,549.76

 

As a general rule I do not purchase additional add-on warranties for vehicles. major appliances, etc. but for some reason

did so on this GMC. Might not ever need to use it. Just some extra insurance.

[Shredzy]

Congrats Shredzy on the new truck!!!!

 

They probably won't give you a price on what it may be 3 years from now and even if they did, they'd make sure to make it look like the better deal is to take it now. $1500 sounds about right even for extending the warranty an additional few years when you're at the end of your bumper-to-bumper. Maybe call a dealership or two and get a quote for extending a warranty on a 2012 Silverado and see what prices they give. A 2012 Silverado, which would be 3 years old now, may give an idea to what your warranty will cost down the line.

 

My advice would be to weigh it out carefully. That 84 month warranty is really only a 48 month warranty since you'd be walking away with the 36 month warranty if you chose not to get the warranty now. The math you did already shows you knew that.

 

Regardless let us know what happens (or doesn't)

 

Picked up the new truck tonight, asked the finance guy about the extended warranties and first of all the guy had no clue, or at least that's what he says that he never heard of the GMEPP plan, and had a price on the Aly-backed plan.

 

Right there I was turned off as I described to him that I wouldn't be interested in the GMPP warranty.

Then he says they also have a plan from Zurich, which may be good, don't know but I'd prefer to stay away from "aftermarket" warranties.

 

When I questioned on what the price would be say if I waited until 2-1/2 years out (I won't have 36K on by then) and he says the warranty purchase price would be about double. Went as far to say that if I wanted a warranty to purchase from the dealership to do it within the 1st week of ownership otherwise the price would jump up to approx. $2k, his original quote was $1599.

 

Why buy an extended warranty for a vehicle with a b2b factory warranty? Well, that only lasts 3/36, what happens if you keep your vehicle for 7 years? That 3/36 won't help you after that.

 

Even the most reliable products can have a mechanical problem at any given time-nothing is perfect.

 

I guess if one feels they need or do not need to purchase an ext. warranty is totally up to them.

 

If these were simple & cheap to repair vehicles I wouldn't even consider an ext. warranty but nothing is getting less costly to repair IF or WHEN it fails.

[hurricanoday]

I have been pming with Shredzy and there seems to be some confusion misinformation. From my understanding and doing research it is best to wait till you are just under 1 year 12k miles. As others have said you will be paying for double covered and just under the 12k 1 year mark the quoted pricing for gmepp is still considered new and after 1 year 11999 miles the price jumps up. So if you buy a 5 year 100k warranty and already have had it for 1 year the 5 years and mileage will added. So if you buy with 11999 miles your 100k warranty goes to 111999 miles not just to 100k. You are actually paying for 5 years 100k miles at the time of purchase.

 

"Time/mileage is added to contract purchase date and odometer mileage at contract purchase date."

 

 

 

My personal opinion is buying on the day you purchase the new vehicle is not a good idea and rolling it into the loan is a terrible idea. Pay cash down the road for the warranty if you decide you are going to keep the truck, sounds like a way better plan. But just my opinion

 

and buy the one with zero deductible

[jasch1124]

 

Why buy an extended warranty for a vehicle with a b2b factory warranty? Well, that only lasts 3/36, what happens if you keep your vehicle for 7 years? That 3/36 won't help you after that.

I don't think anyone's disputing that. I'm all for warranties just not one where I have to pay for a 7 year but only get an additional 4 years of coverage. I would buy it towards the end of your warranty, before it expires.

 

My personal opinion is buying one the day you purchase new vehicle is not a good idea and rolling into the loan is a terrible idea. Pay cash down the road for the warranty if you decide you are going to keep the truck sounds like a way better plan. But just my opinion

 

and buy the one with zero deductible

Just how 'hurricanoday' puts it.

[Shredzy]

I don't think anyone's disputing that. I'm all for warranties just not one where I have to pay for a 7 year but only get an additional 4 years of coverage. I would buy it towards the end of your warranty, before it expires.

 

Just how 'hurricanoday' puts it.

 

After Hurricanoday pointed it out, I seen the following posted in the OP's posting about the time & mileage terms start at the date of purchase of the warranty according to how it is worded, guess I'll need to inquire about that.

 

NEW VEHICLES For vehicles within manufacturer’s bumper to bumper warranty.

 

Time/mileage is added to contract purchase date and odometer mileage at contract purchase date.

 

36 Months 48 Months 60 Months 72 Months 84 Months

60,000 Miles 60,000 Miles 60,000 Miles 75,000 Miles 75,000 Miles

100,000 Miles 75,000 Miles 75,000 Miles 100,000 Miles* 100,000 Miles*

100,000 Miles 100,000 Miles*

*Available only for vehicles with less than 24,000 miles at the time of sale.

[Shredzy]

I decided to go for an ext. warranty from here: http://www.gmoutlet.com/gmepp.html

 

Best price I could find, so if anyone is interested in a GMEPP warranty, give them a call. Very good to work with.