Extended Warranty?
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Ok just looked @ it again.
It's 7 years or 100,000 mi bumper to bumper no deductible.
2k worth it? Did anyone here get it as well.
They offered GAP ins. as well as the tire/wheel coverage which I declined.
I was pretty shocked @ the 2k for the warranty but it's the very best one they offer.
It's 7 years or 100,000 mi bumper to bumper no deductible.
2k worth it? Did anyone here get it as well.
They offered GAP ins. as well as the tire/wheel coverage which I declined.
I was pretty shocked @ the 2k for the warranty but it's the very best one they offer.
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I've read it is cheaper to buy a warranty afterwards and not from the dealer - don't know if this is so.
http://www.carbuyingtips.com/car6.htm
What is an extended warranty?
An auto extended warranty is the most confusing, profitable product car dealers sell. The language is tricky, and if you don't understand the subtle wording you're in trouble. Auto extended warranties have nothing to do with the original manufacturer's car warranty on your car. An auto extended warranty is a service contract between the warranty company and you. They pay for repairs covered by the contract. Your service contract money is deposited in a "claims reserve account", insured in case the administrator goes belly up.
Extended Warranty Myth: "I'll get it at the dealer, it's cheaper and more convenient".
Wrong. It costs more at the dealer. Car dealers are just middleman, you should buy your warranty direct from the source if you can. Car dealers are free to resell the extended warranty to you at sky high prices. I always receive complaints from car buyers whose dealers tried to sell them new car warranties for $3000. If you buy from the dealer, they usually do not show you the contract in advance, so you have no idea what you are signing up to other than their verbal promise, or marketing slick sheets that leave out details that bite you in the butt later. Most car dealer warranties have too many restrictions and weasel clauses compared to the better world class warranties out there that you can buy yourself for 50% less.
http://www.carbuyingtips.com/car6.htm
What is an extended warranty?
An auto extended warranty is the most confusing, profitable product car dealers sell. The language is tricky, and if you don't understand the subtle wording you're in trouble. Auto extended warranties have nothing to do with the original manufacturer's car warranty on your car. An auto extended warranty is a service contract between the warranty company and you. They pay for repairs covered by the contract. Your service contract money is deposited in a "claims reserve account", insured in case the administrator goes belly up.
Extended Warranty Myth: "I'll get it at the dealer, it's cheaper and more convenient".
Wrong. It costs more at the dealer. Car dealers are just middleman, you should buy your warranty direct from the source if you can. Car dealers are free to resell the extended warranty to you at sky high prices. I always receive complaints from car buyers whose dealers tried to sell them new car warranties for $3000. If you buy from the dealer, they usually do not show you the contract in advance, so you have no idea what you are signing up to other than their verbal promise, or marketing slick sheets that leave out details that bite you in the butt later. Most car dealer warranties have too many restrictions and weasel clauses compared to the better world class warranties out there that you can buy yourself for 50% less.
Absolutely right,,,some dealers make as much as 40% commission on EXT Wtys,,so they can make as much on the Wty as the car, OR MORE<<< on appliances,,Salespeople get 10%,,my wife sells appliances,,,,yes, and watch them,,,I bought one on a t-bird back in the 80's,,,and when the power steering pump failed, the EW said they had to put on a rebuilt one, just like Auto Zone sells, or charge me the diffference if I wanted a NEW one,,,this at a Ford Dealer!!
Always buy your extended warranty from the dealership.. DONT buy the other warranties offered by other companys. Ive heard some real horror stories on warrantys from outside companys. So buy from GM ONLY.
Really 2 grand for 100,000 mile warranty is a good price, look at it this way if you sell the car its a GREAT selling point. among if you keep the car you will be covered.
I payed 850 bucks for one extra year on the Z06 it was 48 months 60,000 miles for $850.00 in Jan. 04.
Go for it if you want coverage.
Really 2 grand for 100,000 mile warranty is a good price, look at it this way if you sell the car its a GREAT selling point. among if you keep the car you will be covered.
I payed 850 bucks for one extra year on the Z06 it was 48 months 60,000 miles for $850.00 in Jan. 04.
Go for it if you want coverage.
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142 Posts
We just bought a 0 ded 5 yr 75000 mile gmpp from dealer in Utah. Selling dealer in Florida wanted 1750. Paid $1340. Go to corvetteforum.com and do a search for gmpp. Gm warranty, after 3 years can go to any gm dealer, During first 3 years must go to Pontiac.
If this GMPP's Major Guard Plan then I couldn't agree more. Stick with GMPP and you will not have any issues if you have to use the extended warranty. I have heard horror story after horror story when I worked at the dealership about what was covered and what was billed to the customer. 2K is about right. Try to haggle with your dealer on price. Here is a couple websites to get quotes from. Give them a try.Z16Z06 said:
http://www.gmoutlet.com/
http://www.capperautocenter.com/
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142 Posts
Just bought one $400 less than selling dealer. For any GM product 406-628-4618 ext 105 Dennis Fitchner (fichtner chevrolet) I have bought 3 warrantys there. [email protected] Also parts http://temp.corvetteforum.net/c5/kenfichtner//Partspage1.shtml We paid for 5yr 75,000 mile 0 ded. I think $1320. On my corvette 6yr 48000 o ded about $1000
I paid $1,700 for 5yr/60,000 bumper to bumper. Dealer wasn't willing to come down in price. Was the only extended warranty offered. Probably shouldn't have got the extra warranty cause after putting on 500 miles, it needs more HP. Planning on a ProCharger and Corsa cat back exhaust this summer.
Wow! That is very expensive.
The 60 month/60,000 mile zero deductible GM Major Guard plan that I bought was $895. This was purchased in late December 2004 and there was a scheduled price increase in January 2005. For the GM Major Guard plans, there is probably 40 - 50% markup from dealer cost to MSRP.
In doing my total deal, I included the warranty as a negotiating point rather than an add on.
My decision to buy was based on extensive warranty experience with my 2000 Chevy S-10. It was a warranty nightmare and if not for purchasing the extended warranty, it would have cost me many times the price of the extended warranty. All things considered, this is still a first year production model in many regards so the $895 extended warranty was worthwhile peace of mind for me. It is not difficult for an engine, tranny or electrical issue to exceed $895.
This is a fair weather driver for me and I do not plan any modifications that will violate the GM Major Guard warranty.
Hope this helps someone. Good luck all!
The 60 month/60,000 mile zero deductible GM Major Guard plan that I bought was $895. This was purchased in late December 2004 and there was a scheduled price increase in January 2005. For the GM Major Guard plans, there is probably 40 - 50% markup from dealer cost to MSRP.
In doing my total deal, I included the warranty as a negotiating point rather than an add on.
My decision to buy was based on extensive warranty experience with my 2000 Chevy S-10. It was a warranty nightmare and if not for purchasing the extended warranty, it would have cost me many times the price of the extended warranty. All things considered, this is still a first year production model in many regards so the $895 extended warranty was worthwhile peace of mind for me. It is not difficult for an engine, tranny or electrical issue to exceed $895.
This is a fair weather driver for me and I do not plan any modifications that will violate the GM Major Guard warranty.
Hope this helps someone. Good luck all!
My dealer didn't even bring up the extended warranty when I bought my GTO. I find that strange now that I think about it.
I have bought some extended warrantees in the past and be very careful buying them from companies that are not well known, these smaller ones seem to disappear off the face of the earth in a couple of years leaving you with nothing.
Be very careful of the " bumper to bumper coverage" also. I had a bumper to bumper on on my wifes Acura and the ash tray would not stay closed( I know major problem). It was one of those that would open when you lightly touched it. Anyways it was not covered on the bumper to bumper even thought when I measured it with a tape measure to show the dealer that the ash tray was located inside the two bumpers, it didn't matter it wasn't covered It was like $300.00 to fix it which never happened.
It real easy for the sales rep to say that your coverage is bumper to bumper when you are buying the car, in a few years down the road try to prove that it was said to you. My suggestion read the literature closely before buying.
I have bought some extended warrantees in the past and be very careful buying them from companies that are not well known, these smaller ones seem to disappear off the face of the earth in a couple of years leaving you with nothing.
Be very careful of the " bumper to bumper coverage" also. I had a bumper to bumper on on my wifes Acura and the ash tray would not stay closed( I know major problem). It was one of those that would open when you lightly touched it. Anyways it was not covered on the bumper to bumper even thought when I measured it with a tape measure to show the dealer that the ash tray was located inside the two bumpers, it didn't matter it wasn't covered It was like $300.00 to fix it which never happened.
It real easy for the sales rep to say that your coverage is bumper to bumper when you are buying the car, in a few years down the road try to prove that it was said to you. My suggestion read the literature closely before buying.
Personal experience has proven that 3rd party warranties suck ass. They are like HMOs for your car.
I bought the 100k mile extended warranty, as I will pile over 80k miles in the next two years...and frankly GM's standard 36k mile warranty is embarrassing.
I bought the 100k mile extended warranty, as I will pile over 80k miles in the next two years...and frankly GM's standard 36k mile warranty is embarrassing.
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