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Grey Jay

Is extended warrantee worth it

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4 hours ago, Cpl_Punishment said:

I always decline the extended warranty because they always have a time and distance limit and I'm familiar with the bathtub curve of failure.

The Bathtub Curve is a very simplistic approach to analyzing failure instances and the projected life cycle of a product, but the time axis needs to be integrated with usage.  For those who are putting 25K+ miles a year on a vehicle, the curve starts to look like a deep ditch as opposed to a bathtub.  Regardless, I have never purchased an extended warranty and I don't anticipate doing so anytime soon since I am capable of doing my own repairs.  As I get older and lose the ability to do my own repairs, the extended warranty will probably start looking significantly better.

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18 minutes ago, Gangly said:

The Bathtub Curve is a very simplistic approach to analyzing failure instances and the projected life cycle of a product, but the time axis needs to be integrated with usage.  For those who are putting 25K+ miles a year on a vehicle, the curve starts to look like a deep ditch as opposed to a bathtub.  Regardless, I have never purchased an extended warranty and I don't anticipate doing so anytime soon since I am capable of doing my own repairs.  As I get older and lose the ability to do my own repairs, the extended warranty will probably start looking significantly better.

Good point.  I don't drive that much so I tend to run out of time on warranties, rather than miling out on them.  So, given that 7 years is the longest extended warranty I've ever been offered, I assume that the other end of the tub is somewhere beyond 7 years, even on a T1.

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Extended warranties are for those people who can't save money.

Autos, tv and any electronics. Extended warranties make money for the seller.

 

I have money in a bank account for the emergency that may or may not happen.

I'm betting that the emergency repair won't happen, but if it does, I'll be able to pay for the repairs.

Instead of buying an extended warranty, I've put the money into savings.

Chances are I'll never need it.

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I work in the oilfield so I put a LOT of mileage on my trucks. Used to be about 70,000 km per year now I am down to an average of 45,000 km per year. So I go through a lot of trucks. 1990 ( high school truck) 2003, 06, 08, 10, 14, 16 and soon a 2021. All were gas engines, all GM ( some Sierras, some Chevrolet depending on how they looked that year) all were basically crew cab 4x4 other than the 1990 ( 03 and 06 were extended cabs) with few modifications except the 2014 that had a lift kit. Usually SLT type trucks so nicely equipped but not Denalis. Mainly highway and gravel roads with some offroad miles on them for pipelines and oilfield leases.  

I take really good care of my vehicles and repair anything that goes wrong. Engines broken in as per owners manual, drive line fluids , antifreeze, etc changed ( although not quite as often as GM would like as that would cost a fortune! )  Oil changes more frequently than needed, plugged in when it is cold and always warmed up 10 minutes in summer and 20 minutes in winter at least. Don’t tow a lot other than the holiday trailer and tractors/skid steers once in awhile. For those I had the 3/4 tons. 

My personal experience is this:

 

1. First of all I have noticed 3/4 tons seem to be built much better than 1/2 tons as my two 3/4 tons had the most mileage on them and the least problems.


2. I used to get rid of trucks at about 120,000 km to 140,000 km for the most part. My 06 and 16 were the 3/4 tons which both ended up with over 200,000 km on them. The only one I had  drive train issues with ( other than front hubs which warranty doesn't cover anyway after 60,000)  was the 2010 1/2 ton and it was at about 170,000 km the engine wore out (I believe this was AFM related) . As it was after 160,000 it was not covered. This truck  I experimented with and kept longer than most of the others to compare depreciation vs. repair cost long term. Should have traded in sooner it turns out. 

 

3. I only ever bought extended warranty on the 2006 3/4 ton. I used ( what work cost) about $1200.00 of the $3000 i spent on the extended warranty. 


4. I never bought extended warranty on any of the other trucks as for me it never really seemed like it would cover anything that actually went wrong anyway or it would be gone quick due to high mileage.

 

5. I probably spent about $3000.00 fixing trucks where extended warranty would have saved me but had I bought warranty on each truck besides the 2006 I would have spent about $15,000.00 on unused warranties. For me they always seem to want about $3000.00 ( Canadian) for any type of decent extended warranty. 
 

6. We have a 2017 Ford Explorer for my wife. She now has  150,000 km or so on it and I never paid the approx $3000.00 for extended warranty on it and it has been great, no repairs needed other than some small items that warranty would not have covered anyway. So more money saved. 
 

I also noticed a trend over the years that with every new truck they are getting less and less reliable of course (other than previous comment about the 2016 3/4 ton being better) I am pretty disappointed that with the 2021 AT 4 I  ordered, the powertrain warranty is now only 100,000 km. So GM doesn’t believe their trucks are going to last 160,000 km anymore and don’t want to cover powertrain repairs up to that point? 
 

I hope my long winded story helps someone decide. It is up to you what you feel comfortable with. For me and my situation, I have saved money so far (knock on wood ha ha) 

Edited by Dirtbiker
Added explorer info
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