Extended Warranties Good/Bad thing?

[odoh]

Have ordered a DMax and waiting for it to come in. Have been lurking on the several boards and noted some problems sprinkled thru many threads. I'm wondering if an extended warranty might be useful to have. My car club makes a warranty avail for the DMax for $1100. It is the Platinum Plan & supposedly covers every thing including flats & tires. 85Kmiles or 72mos.

Factory warranty is 36mos 36KMiles and from some of the posts here, it looks as if the dealers are reluctant to work warranty jobs. On one hand, it would be nice to have another source/option as fall back. On the other, I've never had to use it and most reports indicates its wasted money anyway.

Still what w/all the computerized controls I can't help but wonder not to mention that $1100 doesn't come easy for me.

Anyone out there have additional thots/experience or otherwise words of wisdom on the subj?  ~ odoh

[VikingZ]

I would skip the extended warranty.  If it makes you feel better stick that 1100 in a savings account or 3 year cd.  Or take the 30$ per month(if financing) and put that in a savings account.  Most times nothing big, over 1100$ is gonna happen till 100K miles plus.  Any thing less than that you can cover with your savings account.

 

 

JMHO

VikingZ

[Garmat]

I too would skip the extended warranty.  My advise would be to wait until you are near the end of the standard warranty, you could purchase it then if you still wanted it.  You may wind up selling the truck before the standard warranty is up.  The only advantage to buying it when you buy the truck is that you can roll it into your loan.  Companies make BIG profits off those extended warranties for a reason.  That's why they push them so hard.

[Shaners]

I would save the money.  The Duramax engine comes with a 5yr/100K warranty ($100 deductable after the first 3 years).  I don't know about the Allison tranny but it is "stout" and should last forever with some general maintenance.  Enjoy your new truck.... and spend the money on some aftermarket goodies  ;)

[ChewyJ]

Does the 5yr warranty cover seals and gaskets?? Or does it just cover internally failed hard parts?

 

I can appreciate the idea of waiting until your factory warranty is just about up, and then buying the contract.  Most contract companies allow you to do this, but you usually can't roll this into your existing loan.

 

I guess I'll have to go against the grain, and suggest an aftermarket warranty if, and only if, you think that you are going to hold onto the vehicle after the factory warranty runs out.  

 

Only 2 or 3 things need to go wrong over a 36 month period to make up the money you are going to spend.  These trucks are not cheap to repair, even with aftermarket parts (not that I would suggest their use).  Something as simple as a window motor breaking can set you back $400.00.

 

Just my 2 cents.

 

-Jason

[Dihappy]

I gotta disagree.   I would jump on an extended warranty again if i had a chance.

 

These trucks rock, but there are still problems and i have definitely had to use my warranty past 36k miles!

 

If 1100 doesnt come easy to you, wait till you have to pay for some unforseen problem after 36k.

[CMNTMXR81]

I worked in a service department, and I wouldn't buy an extended warranty from an outside at all!  The nightmares you will go through in order to get them to cover a claim after the factory warranty is comprable to pulling teeth without novacane.

 

The only way I would possibly consider an extended warranty is if it is  GM warranty such as the "GM Protection Plan".  The same thing could be said for ford or any other manufacturer.  I'd ONLY buy there own extended warranty.

 

Trust me, I've been there on BOTH sides as a service department making sure that the dealership doesn't eat thousand dollar warranty claims and I've been on the customer side needing to replace a 4T60E transmission in oir Monte that the extended warranty company refused to want to pay for despite it stating in clear english that the transmission was covered.

 

Another thing you need to think of is, how long are you going to own this truck?  Factory warranty is 3yr, 36,000 miles.  If you plan on only owning the truck 4-5yrs and/or 50,000 miles, then I wouldn't spend ANY money on an extended warranty as you're going to get rid of it anyway.  If you plan on driving the wheels off of it, then I'd think about the GM Protection Plan.

[2001 HD]

Ditto what CMNTMXR81 said. I paid $2200.00 with no deductable at time of purchase for 100k mile warranty. GM is going to reimburse me 100% and give me a new FREE GMPP plan because of my dang engine knock. GMPP plan basically covers everything in the power train and suspension, including gasket leaks, roadside assistance, towing, rental cars up to $30.00/day, key lock-outs, out of gas and tire changes with your spare. Mostly what it does not cover is body parts. And I can still have my engine knock fixed if and when they ever find a fix. Now what to do with $2200.00? ;)