My factory warranty is almost up

[Bharnz]

Is it worth getting the extended warranty, $1,637 and 0 deductable. for an other 24 thousand miles,

Just had a steering Knuckle replaced and they advised me warranty is almost up,.

I have a 2003 Silverado extended 4x4, No power windows but most everything else.

auto with the 4x4 shift lever on the floor.

Any advise would be helpfull !!!

[GM-Tech]

It's like any other insurance. You can pay the price and if you never have a failure, it was a waste of money. But come the day your trans or transfer case or axle or some other major component has a problem, you'll be patting yourself on the back for being smart enough to get an extended warranty.

[fossil]

Doesn't take much to rack up a 1500 repair bill these days. Couple of hours in the shop and some parts and you got half of it paid for. Personally, I'd put on as much as I posibly could.

[GMCStepSide]

But then again, not to be a downer, but what happens to that extended warranty should GM declare for bankruptcy? I've considered purchasing one for my truck but am concerned about their financial condition and what effect it could have on an extended warranty. Nothing worse than buying one and never needing it except buying one and then having the company go bankrupt.

[fossil]

If GM declares bankruptcy and goes tits up the whole north american economy will go along with it. Whats the chances of that happening?

[Mark_in_Tulsa]

You don't have to buy a warranty from GM, you can buy one from an independent co. for cheaper.

[GMCStepSide]

Hey fossil, you ever heard of Enron? Some of us had large sums of stock in that company and have nothing to show, and we all thought it was bulletproof.

 

As for the likelyhood of GM going bankrupt, I'll bet you it will happen within two years at the most...they can't afford to keep bleeded red along with pension problems and the host of other ills affecting the company right now. Don't get me wrong, I'd hate to see that happen as I've been a big GM supporter for years and have owned their stock for years....but NEVER, NEVER say it won't happen. I believe if it came down to it, the government would bail them out like they did Chrysler but not before they made some serious changes with the company. They have to make some serious adjustments - and soon - or my forecase of bankruptcy within two years will happen earlier rather than later.

 

Back to my point, no matter what extended warranty you purchase, there is the likelyhood of them going out of business. I got hung with one a few years back where I bought one from another company online and they went bankrupt six months later. That was $1250 gone with nothing to show.

[GM-Tech]

There's no comparison between Enron and GM. Enron hardly affected the entire economy of the U.S. like GM does.

 

GM may file for chapter 11 at most. That would probably allow them to reduce the union's stranglehold on them, reduce pension expenses, etc.

 

I could be wrong, but I understand that UAW factory workers get $57,000 a year, not to mention gobs of benefits. Does anyone else think that's a little overpriced for someone to hang a fender on a car 8 hours a day? And ya wonder why you're paying $30-$50 thousand for a vehicle?

[averagehonky]

BHarnz, check these people out and tell us if they are lower priced with the GM Major Guard Extended Warranty. I've heard they are a lot cheaper.

 

 

GM Major Guard