Did You Buy the Extended Warranty?

[OILERS55]

Just bought my 2019 GMC SLT.  Dealer wanted $3650 for a 10 year, 120,000 extended warranty - basically this warranty would cover warrantable, non maintenance items from end of OEM bumper to bumper  thru year 10.  I thought this was an insane!!!! amount of money and declined.

[OnTheReel]

I plan on trading in a couple years so I didn’t, but even if I planned to keep it forever I wouldn’t buy one. Especially not at that price.

 

Better off “self insuring” and setting that money aside for if something happens rather than handing it to the dealer right away. Almost guarantee you won’t need to spend that much on repairs over the 5-7 years the vehicle is out of the factory warranty, especially if you are handy and can do the work yourself.

 

 

[Mountain boy]

Call Black Cadillac, they sell GM warranties for about half price. They are a real GM dealer, they have a website.

[Sin City Trail Boss]

We can buy extended warranty right up until before the factory warranty expires right?

[truck_newbie]

3yrs/36k is not nearly enough. These vehicles have gotten so complicated that when something simple breaks, you are looking at some serious money to fix it.

 

I bought the 2 year GM extended bumper-to-bumper for $1000. It was a no-brainer. Now i'm completely protected for 5 years which is plenty for me. You can only get this option at time of purchase though, not after the fact. 

[Silverado EW]

These are insurance policies sold by the dealerships for various amounts. As an example, I purchased a 10 yr, 100K warranty for $2,200 a couple weeks ago when I bought my Silverado. I wish the standard warranty was for higher miles but to me, to buy the extra policy is a no brainer. My dad bought one for his truck, it was a lifetime bumper to bumper for $3,400. He's got 335,000 miles on his truck now. That policy was worth it since he's had to put a new Trans, rear end, blower motor and engine in his truck. LOL he says it't the best $3,500 he's ever spent. Now they tell him that they will review each claim and if the cost of repair is more than the value of the truck, they will pay the value of the truck. I would highly recommend to buy it if you can. You can negotiate the price of it also. The dealership typically makes big $$ off of these policies. 

[zzrsouth]

I got a 10y 100k mi one also, similar price as above, mainly because the L3B is so new.  Proba bbn ly a waste of money...

[jlong1984]

50 minutes ago, truck_newbie said:

I bought the 2 year GM extended bumper-to-bumper for $1000. It was a no-brainer. Now i'm completely protected for 5 years which is plenty for me. You can only get this option at time of purchase though, not after the fact. 

I also bought the 5/60,000 warranty extension from GM. I figure they will probably have a new body style out in about 5 years and I'll want to trade then anyway. 

[truck_newbie]

16 minutes ago, jlong1984 said:

I also bought the 5/60,000 warranty extension from GM. I figure they will probably have a new body style out in about 5 years and I'll want to trade then anyway. 

Yeah, for $1k and provided by GM themselves, i don't know why anyone wouldn't get that. Will increase the truck resale value too in-case you decide to sell before the 5 year elapses. 

[timber74wolf]

I bought the whole extended warranty package from bumper to bumper, Zero deductible. It covers everything from the key, key remote, tires, wheels, interior, etc... Only thing not covered is obviously the wear and tear items like brakes, belts and hoses.  Total cost was $2500 for 120K miles and the additional 5 years.

[MacLaren]

Dang right I bought one.

Got a 7 year 100k 

With all the computers and what not in new vehicle. After I hit 100,000 I'll get another new one.

[Bob2C]

3 hours ago, Sin City Trail Boss said:

We can buy extended warranty right up until before the factory warranty expires right?

Correct but the price increases significantly.. The sweet spot is just before 2 years or 24k miles.  When these protection plans are purchased the years and mileage are added on from the time of the CONTRACT is purchased NOT vehicle purchase.  So when you buy the day you buy the car, there is a lot of overlap..Definitely shop around. Take a look at the corvette forums there is a lot of talk and who to buy it from. James Black Cadillacin PA is one and also Denny Menholt, in Billings MT. I got quotes from Ken Fichtner who is their sales manager.  Excellent pricing. I chose not get it. I have Geico insurance which has an option for mechanical breakdown. Cost me 100 bucks a year for 7 years or 100k miles.. Covers everything except wear items. Their exclusion list is small. They are regulated being an insurance company. The GMEPP plan does have exclusion and you need to review carefully. They have 2 plans 100 deductible and 0 deductible. If you wanted the plan with the 100 deductible there is a clause that states you can get a one time transfer to your local dealer where work will be performed and deductible is waived. I have done extensive research on these protection plans. They are a money maker. If you want the piece of mind then go for it..

Edited September 16, 2019 by Bob2C
typo

[Sin City Trail Boss]

6 minutes ago, Bob2C said:

Correct but the price increases significantly.. The sweet spot is just before 2 years or 24k miles.  When these extended warranties are purchased the years and mileage are added on from the time of the CONTRACT purchase NOT vehicle purchase.  So when you buy the day you buy the car, there is a lot of overlap..Definitely shop around. Take a look at the corvette forums there is a lot of talk and who to buy it from. James Black Cadillacin PA is one and also Denny Menholt, in Billings MT. I got quotes from Ken Fichtner who is their sales manager.  Excellent pricing. I chose not get it. I have Geico insurance which has an option for mechanical breakdown. Cost me 100 bucks a year for 7 years or 100k miles.. Covers everything except wear items. Their exclusion list is small. They are regulated being an insurance company. The GMEPP plan does have exclusion and you need to review carefully. They have 2 plans 100 deductible and 0 deductible. If you wanted the plan with the 100 deductible there is a clause that states you can get a one time transfer to your local dealer where work will be performed and deductible is waived. I have done extensive research on these protection plans. They are a money maker. If you want the piece of mind then go for it..

Thank you Sir.

 

I have Geico, so maybe I will look into that.

 

I do need to get something though. I need this truck to last me at least 7 years.

[Bob2C]

1 hour ago, Sin City Trail Boss said:

Thank you Sir.
 
I have Geico, so maybe I will look into that.
 
I do need to get something though. I need this truck to last me at least 7 years.

 

 

The Geico mechanical breakdown needs to be purchased within 15 months and 15k miles.


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Edited September 16, 2019 by Bob2C
typo

[Sin City Trail Boss]

5 minutes ago, Bob2C said:

 

The Geico mechanical breakdown needs to be purchased within 15 months or 15k miles.


Sent from my iPhone using Tapatalk

 

Thank you. So buying from Geico, is this essentially an extended warranty then?

 

Does it cover as much as say something from GM would?