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Extended Warranty

ujtruck

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ujtruck Enthusiast

ujtruck

Posted
Posted

I know this question already been answered, but my mind is still bugling...so here I am...

 

When I was buying my new NBS 07 GMC Sierra - my Bad A$$ Dealer forced me to buy Extended Warranty for $2795.00 Canadian... yes I did fight with them but I failed, I had some credits issues so finally I have agreed to have Ex.Warranty.

 

Now I want to cancel the dang thing and lower my monthly payments....

 

is it a good idea to cancel extended warranty on my Brand Spanking new truck?

 

This is my 1st truck came from car world... Thanks in Advance :cheers::cheers:

gave20 Senior Enthusiast

gave20

Posted
Posted

The best way to fight being forced into an extended warranty was just not signing on the dotted line.

 

Since had no choice in the matter at the time of purchase; I'd get out of it as quick and cheap as possible. GM's already come with 5yr/100K and you can get a GMPP for $14-1600.

03blackz71 Senior Enthusiast

03blackz71

Posted
Posted

If I were you I would have told the dealer to **** off. You can buy a warrenty whenever you want before 36000 miles and even after that. Now you are stuck because they probably put that on your loan and it will stay there unless you get refinance loan.

badmeds Enthusiast

badmeds

Posted
Posted
I know this question already been answered, but my mind is still bugling...so here I am...

 

When I was buying my new NBS 07 GMC Sierra - my Bad A$$ Dealer forced me to buy Extended Warranty for $2795.00 Canadian... yes I did fight with them but I failed, I had some credits issues so finally I have agreed to have Ex.Warranty.

 

Now I want to cancel the dang thing and lower my monthly payments....

 

is it a good idea to cancel extended warranty on my Brand Spanking new truck?

 

This is my 1st truck came from car world... Thanks in Advance :cheers::cheers:

 

 

Are you refering to GAP (Guaranteed Asset Protection)? as opposed to a manufacturer's extended warranty. GAP protects the lender, normally for the life of the loan, in the event of a totaled vehicle. Regardless, you can cancel either type here in the US and expect the remainder to come off the loan, most likely will not lower your payment, it will come off on the backend.

ujtruck Enthusiast

ujtruck

Posted
  • Author
Posted

Oooh Thanks Guys, you all made my feels better already..., Tomorrow I will call GM and cancel the Extended Warranty. :cheers:

 

Atleast that will save some cash for my Beer... :cheers:

ujtruck Enthusiast

ujtruck

Posted
  • Author
Posted
Are you refering to GAP (Guaranteed Asset Protection)? as opposed to a manufacturer's extended warranty. GAP protects the lender, normally for the life of the loan, in the event of a totaled vehicle. Regardless, you can cancel either type here in the US and expect the remainder to come off the loan, most likely will not lower your payment, it will come off on the backend.

 

No, This is not GAP - on my paper says GMPP Programs and check marks on GMPP New Plan+ GMPP Coverage - check mark on Total Plus -

 

Plan Terms** 60 Months -> 160000 KM -> Deductible $100.00.

 

I couldn't read all that fine prints, I was under Ripo Dealer's pressure.. :cheers::cheers:

unit731 Senior Enthusiast

unit731

Posted
Posted

I just don't get it.

 

Why were you 'forced' to buy any extended warranty?

 

What is the name of the Warranty Company?

ujtruck Enthusiast

ujtruck

Posted
  • Author
Posted
I just don't get it.

 

Why were you 'forced' to buy any extended warranty?

 

What is the name of the Warranty Company?

 

 

Why were you 'forced' to buy any extended warranty? cause they want to make money out of me.

 

What is the name of the Warranty Company? GM Canada

MikeRS1981 Enthusiast

MikeRS1981

Posted
Posted

Same thing happened to me. I leased mine for 4 years, and was told I only had a 3yr 36,000, so I needed to cover myself for the last year, if I wanted to. I was given the choice, but lied to about the stock warranty length. Im paying for a warranty that I will never use, because Im giving the car back. Who could I call as well ?

hotwheels57 Enthusiast

hotwheels57

Posted
Posted

The real advantage of buying a GMPP extended warranty at the original time of purchase is the savings in cost of the plan.

As the truck ages and racks up miles, the cost of the extended warranty increases. GM raises the cost of GMPP extended warranties routinely each year, just like everything else. So, if you plan to keep the truck for only the three years of the original warranty, buying an extended warranty at the onset is not advisable.

If you plan to keep the truck beyond the 3/36 warranty, you must purchase the extended warranty before the original warranty expires. It will cost you more to buy the extended warranty at that time by several hundred dollars.

Your comment about "forcing" you to buy the warranty doesn't make any sense...

GMPP extended warranties can be transferred to a new owner for a small fee. GMPP warranties can be cancelled and they'll refund your monies...at any time during the contract period of the plan.

http://www.gmprotectionplan.com/

RobDarden Enthusiast

RobDarden

Posted
Posted

Just say "No" if you don't want it. I don't buy the warranties. I don't see how they could hold it against you.

2004GMC1500CC Enthusiast

2004GMC1500CC

Posted
Posted
I know this question already been answered, but my mind is still bugling...so here I am...

 

When I was buying my new NBS 07 GMC Sierra - my Bad A$$ Dealer forced me to buy Extended Warranty for $2795.00 Canadian... yes I did fight with them but I failed, I had some credits issues so finally I have agreed to have Ex.Warranty.

 

Now I want to cancel the dang thing and lower my monthly payments....

 

is it a good idea to cancel extended warranty on my Brand Spanking new truck?

 

This is my 1st truck came from car world... Thanks in Advance :cool::)

 

My standard answer to extended warranty's. They wouldn't offer it to you if they weren't making money on them.

mini1 Enthusiast

mini1

Posted
Posted

Nobody forced you to buy an EW on that truck. You are just trying to make up for your idiotic purchase now. You paid way too much for that anyway. If they weren't going to sell you the truck without it, why not walk on the deal?

ujtruck Enthusiast

ujtruck

Posted
  • Author
Posted

Alright guys, I called GM (then I started crying) - they told me, they can't do anything about my EW, but I can call the Dealer and they must cancel.

 

OK I call my GM Dealer (cry one more time) yep its work - they will cut a $3186.30 check for me, and it'll be ready by Friday.

 

they will recalculate my monthly payments and let me know...whooo whooo... :)

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