GMEPP - Platinum Chevy Protection Plan

[Carlo]

Has anyone had any experience with the new (since 2017) Chevy Protection Plan, known as the GMEPP (GM Extended Protection Plan), administered by AMT Warranty Corp?   GM no longer provides a GM or Ally service contract.

This is what they offer, and many GM dealers don't sell it, but they're required to honor it.  I'm thinking of buying it and need to know if you've had problems getting things fixed?   This helps to explain it:

https://smithchevywarranty.com/gmpp-gone-not-really-gmpp-now-gmepp/

Edited January 26, 2021 by Carlo

[djw88]

extended warranties are a waste of money. Every independent study confirms its just a huge money maker for companies.

[Salsa De Piña]

42 minutes ago, djw88 said:

extended warranties are a waste of money. Every independent study confirms its just a huge money maker for companies.

Of course it makes them money.  It's insurance; that's how it works.  For the majority of people it's not worth it, but there's still that minority for whom it pays off. 

 

The companies wouldn't agree to take on the risk of having to pay to fix your vehicle if, on the whole, they don't make money.  It all comes down to your own personal risk tolerance.

[Carlo]

That hasn't been the case for me.

[djw88]

22 minutes ago, Salsa De Piña said:

Of course it makes them money.  It's insurance; that's how it works.  For the majority of people it's not worth it, but there's still that minority for whom it pays off. 

 

The companies wouldn't agree to take on the risk of having to pay to fix your vehicle if, on the whole, they don't make money.  It all comes down to your own personal risk tolerance.

its a warranty not insurance.

 

You are far better off saving that money and then using it if you end up needing repairs. If you don't need repairs (like you also said, the vast majority wont) you got all that money in your pocket.

 

 

[Salsa De Piña]

14 minutes ago, djw88 said:

its a warranty not insurance.

Let's see... You pay a premium and in return, a company provides a guarantee of compensation for uncertain loss or damage.  Sounds like the very definition of insurance to me.

 

There are plenty of people on this very forum for whom extended warranties have paid off.  There are undoubtedly several others for whom it was a waste of money.  Again, it comes down to your personal risk tolerance.

[djw88]

43 minutes ago, Salsa De Piña said:

Let's see... You pay a premium and in return, a company provides a guarantee of compensation for uncertain loss or damage.  Sounds like the very definition of insurance to me.

 

There are plenty of people on this very forum for whom extended warranties have paid off.  There are undoubtedly several others for whom it was a waste of money.  Again, it comes down to your personal risk tolerance.

If something goes wrong a warranty will cover it.

 

Insurance is for if you or someone else wrecks a vehicle. 

 

I wouldn't go to gm to cover my fender bender but I would if something mechanical went wrong because its covered under a warranty.

Edited January 27, 2021 by djw88

[djw88]

But in the end if it makes you feel warm and fuzzy get the warranty. if it ends up saving you a bunch of money awesome if not at least you got the warm and fuzzies.

 

[Salsa De Piña]

13 minutes ago, djw88 said:

If something goes wrong a warranty will cover it.

 

Insurance is for if you or someone else wrecks your vehicle. 

 

I wouldn't go to gm to cover my fender bender but I would if something mechanical went wrong because its covered under a warranty.

An optional extended warranty for which you pay extra is a form of insurance against mechanical failure, which would not be covered by conventional collision/fire/theft insurance.  If you don't understand the definition of "insurance," I don't know what else to tell you.

[djw88]

16 minutes ago, Salsa De Piña said:

An optional extended warranty for which you pay extra is a form of insurance against mechanical failure, which would not be covered by conventional collision/fire/theft insurance.  If you don't understand the definition of "insurance," I don't know what else to tell you.

I can see that. me personally I would never call it insurance. but i can see that it would be a type of insurance seeing you pay extra for it.

 

 

[Carlo]

I typically make money on factory service contracts because I spend about $1,800 for their best 100k mile coverage.  That would be the cost for this one, but I'd like to know if this one pays w/o issue. 

[It's Tim]

34 minutes ago, Carlo said:

I typically make money on factory service contracts because I spend about $1,800 for their best 100k mile coverage.  That would be the cost for this one, but I'd like to know if this one pays w/o issue. 

If they attribute your claim to "normal wear & tear" you get nothing. As well your odds of having a $6,000.00 engine transplant performed are also very slim.

Had you purchased  $1,800.00 of GameStop stock in June of last year today you would have more than enough to buy a few trucks and not care about any warranty.  ($143,850.00) 

[KARNUT]

I’ve bought vehicle extended warranty a few times. Usually at half the face value on an already discounted vehicle at 0 percent interest. If you want to get excited about wasting money. How about unemployment insurance and social security. I would have loved to have been able to invest that money over my working life. Don’t even get me started on health insurance.


Sent from my iPhone using Tapatalk

[squib]

Extended warranty sounds like a good option when I just got quoted $10,000 to replace the engine on my 2015 (out of warranty) because the $100 oil pump blew up and got into the motor.

[Carlo]

How many miles were on the truck?