Extended Warranty?

[AONYX]

I just bought a 21 3.0 Duramax Silverado and they sold me a 100k 6 year warranty. They quoted me 2300 (ish). I told them I wasn't interested because it made my payment too high per month and they cut the price of the warranty and my interest rate with just a few clicks and got it in my price range.

I bought a carmax warranty for my Used MINI Cooper S several years ago. Cost me $2500, assumed it would pay off being a BMW product, but never used it once because the car has had no issues significant enough to justify paying the deductible on it. Its all a gamble. If it makes you feel better having it, then get it. If you don't want to pay for it then dont. 

[JohnH4260]

12 hours ago, JohnH4260 said:

I got a quote from James E. Black Cadillac for my 2021 GMC Sierra Denali this past Saturday (3/20/2021). It’s for the GM Extended Protection Plan. 7 years/56,000 miles with a zero deductible for $1,685 and no tax since I don’t live in Pennsylvania. More details at link below.

 

http://www.gmoutlet.com/gmepp_quote.html

So I purchased this warranty plan today. $1,685 out the door. 

[Mike_F]

Quote

So I purchased this warranty plan today. $1,685 out the door. 

Which plan did you purchase, silver or platinum?

 

Thanks

[JohnH4260]

6 minutes ago, Mike_F said:

Which plan did you purchase, silver or platinum?

 

Thanks

Platinum 

[Mike_F]

Thank you

 

[JohnH4260]

40 minutes ago, Mike_F said:

Thank you

 

You’re welcome. 

[redwngr]

https://www.chevrolet.com/owners/warranty

 

Powertrain warranty is different for the 3.0L or 6.6L Duramax. Other warranty sections don't change, but imho extended warranty isn't purchased because of worry about spending a few hundred on a door switch (or similar) for a $50,000 vehicle.  It's likely purchase because of worry about a severe powertrain failure.

 

Side note:

From website:

For most new 2019-2020 Chevrolet vehicles, coverage is for the first 5 years or 60,000 miles, whichever comes first, see dealer for details.

The 2020 1500 Series Light Duty (LD) pickups equipped with a 3.0L Duramax Turbo-Diesel Engine and 2500 and 3500 Series Heavy Duty (HD) pickups equipped with a Duramax® 6.6L Turbo-Diesel V8 engine are covered for 5 years or 100,000 miles, whichever comes first, see dealer for details. 

 

 

 

I'm NOT a fan of extended warranties, but if looking at them, be sure to read the details of what is already included and what will be gained before making a decision.

Lots of 'warranty plans' out there. What is true about one may not be true about another.

 

The sellers are not likely going to point out the issues in the fine print. 

 

On average, the sellers make more money if you buy an extended warranty.  (or they wouldn't be doing it....)

This means that on average, the buyers are losing money on extended warranty. 

Fee pays the cost of repairs --but it also pays the profit/return on investment to the guy that gets you to sign, the guy that financially backs the plan etc etc. 

 

Been buying (mostly new, mostly GM) vehicles since late '70's. 

Some traded before standard warranty expired, most kept much longer. 

I've still not had a failure that would have been covered by an extended warranty.  

 

And don't forget about the extended plans on appliances, electronics, furniture, phones, tools etc etc.

Save that money too, and put it in the same 'if something ever needs a repair that might have been covered by extended warranty' pot.

You'll have a nicer retirement.  

 

  

 

[Minnvmax]

I did some shopping including the suggestions on this site. Ends up my dealer had the best offer. 

 4 years x 120,500 miles for $2985.