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Discussion Starter · #1 ·
Anybody gone for the extended warranty? After reading about all the ticks, hicks, backfires, etc... I'm wondering if it would be worth it?

Any ideas on cost and mileage or is it worth it for a daily driver?:willy:
 

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I got it...I originally balked when I found out it would add $35/mo. to my monthly payment, but when it was offered to me for an additional $15/mo. I went ahead and got it.

I don't plan on putting 75K miles on my car in the next 5 years, but having that extra 2 years of warranty ($50 deductible) for only $15 more a month seemed like a good deal to me.

The extended warranty covers the car for an additional 2 years and/or up to 75K miles.
 

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I did it too. Went with the 5yr/75000 mile option, covers everything with a $50 deductible. I'm not sure at this point whether I'll keep the car that long, but just in case I do, I wanted the coverage. I can imagine what it might cost to have repair work done 3 or 4 years from now or the trouble we might have sourcing parts...

KB
 

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NOT me.... I went into detail a while ago why I wouldn't take it. Many people do not realize that when you purchase say a 5 yr extended warranty.... you are paying for the 5 year warranty but are only actually getting 2 years of coverage because the bumper to bumper covers you for 3 years.

Dealers WILL NOT let you take the 5 year plan out ON TOP of the 3 ( making it in all actuality 8 yrs of coverage) the manufacturer is giving you. . If they did, then I'd probably opt for it. Same as the 7 year deal. Guys that take that are paying for 7 years but only getting 4 years of actual coverage because of the 3 year B to B from GM.

The upside is that if something does go wrong you're covered.

Studies have shown dealers make more money selling extended warranties than profits they make from selling cars. And that study also said the same thing about extended warranties on most everything.
 

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BostonF4$ said:
Studies have also shown that $hit breaks and when it aint under warranty it's expensive to fix. I have a 4 year 75k warranty and I like the peace of mind. I drive an A4...all I can think of is a blown tranny....
Yes, it sure does get expensive. I also have a 6-year old Grand Am, and I just got whacked for some big repairs: broken power window motor/regulator...and a coolant leak due to that bad gasket in the V6 (that GM never addressed).

I bought the couple extra years "peace of mind" for the GTO.
 

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I bought the extended GM warranty due to the miles I pile on (~50,000/year) and the fact that I find the basic 3/36k coverage embarrassing.

My transmission blew up at 30k miles, and even though it was eventually replaced under the original warranty the experience was so aggravating that it marked the last time my car saw a P-P-Pontiac dealer's service bay.

I've had a couple of other issues that could've been warranty claims-- if I had any confidence in the ability of Mr. Dumbasawrench to diagnose and address anything more complex than an untied Reebok.

Instead, I found a few speed shops I trust- or I fix it myself and upgrade in the process.

So...if I ever buy another GM product, I will not buy the extended warranty.
 

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I've always subscribed to the Consumer Reports view on extended warranties. Most all of the time, you're just throwing your money away, so if you just save that money (and say put it in a savings account), you will end up better off in the long run. They did list a few exceptions. I've never purchased an extended warranty on anything in my life except a very expensive laptop, and it just happened to pay off...that was one of the CR exceptions.

After replacing two intake manifolds in my Bonnie, I was almost tempted to get one for the Goat, but once I thought about it both of those replacements would have been past any extended warranty I could have purchased for the Bonnie anyway.

After reading this forum, I'm terrified to take my car anywhere for service...especially the dealer.
 

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I extended my warranty to 5 year 70k for about $1,300 if I remember correctly. I agree with the piece of mind comment.

Coincidently, I've gotten my $$$ worth from two previous extended warranties. Both on 4x4 trucks that I just pound the crap out of. New engine for one (totally my fault), new rear end in the other (not my fault).

If you drive it hard and don't plan on modding it out of warranty, it may be worth it. A generic article in consumer reports, probably does't take lead foot folks around here into account.
 

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ShoddyHog said:
I've always subscribed to the Consumer Reports view on extended warranties. Most all of the time, you're just throwing your money away, so if you just save that money (and say put it in a savings account), you will end up better off in the long run. They did list a few exceptions. I've never purchased an extended warranty on anything in my life except a very expensive laptop, and it just happened to pay off...that was one of the CR exceptions.

After replacing two intake manifolds in my Bonnie, I was almost tempted to get one for the Goat, but once I thought about it both of those replacements would have been past any extended warranty I could have purchased for the Bonnie anyway.

After reading this forum, I'm terrified to take my car anywhere for service...especially the dealer.
:agree
 

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fattirewilly said:
If you drive it hard and don't plan on modding it out of warranty, it may be worth it. A generic article in consumer reports, probably does't take lead foot folks around here into account.
That article was published so long ago, I can only ensure you it was in the '80's, and can't even begin to guess what year. What you say is 100% true though...it was generic and they even said that there are times where you should go ahead and take the risk. If I planned on beating the piss out of my Goat, I'd buy it without question. Just being a lead-foot though? I sort of hope they assume most all people who buy a GTO fall into that category. I'm a lead-foot, and don't consider anything I've done with this car to be out of the "norm". The manual even speaks to using this car in "competitive driving", so I think they know I'm going to step on it a bit :cheers

Having said that extended warranties are a waste of money almost every time, and besides...it sounds like dealers are more likely to F your car up than to fix it right in the first place.

Just my $0.02...your mileage may vary.

Gerry
 

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lol only if that where true.. but really i talked to her dad about warrenty work and he said it makes the dealership money cuz GM pays them for service or something like that. He has a 69 Yenko Camero 427 in the garage and has had more than 15 shelby GT cars
 

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04stangkiller said:
lol only if that where true.. but really i talked to her dad about warrenty work and he said it makes the dealership money cuz GM pays them for service or something like that. He has a 69 Yenko Camero 427 in the garage and has had more than 15 shelby GT cars
Well, I was just being silly. I understand what you are saying...its just like when I help Bank of America set up their warranty exchange program with Compaq. We did it so efficiently (thanks to me :cheers), that we actually made money and was the top Tier-3 self-maintainers. That worked out well for everyone.

I can see what you're saying -- if I owned a shop and could keep a mechanic billable 40 hrs. a week on warranty work being reimbursed by GM, I've got a happy mechanic and customer without a dime spent. The only prolbem with this theory is that there's an assumption that every mechanic is 100% proficcient on the GTO and will get it right when the car is in for repair. From what I've read here, that's a rare condition. Maybe what you say is true for the ubiquitious cars, but for the GTO???

Besides, if it was a good deal for everyone, it seems like dealers would welcome warranty work. I've never experienced that phenomenon.

Gerry
 

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04stangkiller said:
believe it or not. but i would trust me since im dating a dealership owners daughter. get the warrenty it will not only help and save you money. but it also makes the dealership money to do warrenty service on customers cars.
I went ahead and got the extended warranty in effect doubling the factory coverage for only 1400 dollars...It was all rolled into the 0% financing so made only a 22$ a month difference in the payment. I figured its worth the peace of mind. Same idea as insurance I guess. My thoughts anyway, for what the worth.
 

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CPO's GTO said:
I went ahead and got the extended warranty in effect doubling the factory coverage for only 1400 dollars...It was all rolled into the 0% financing so made only a 22$ a month difference in the payment. I figured its worth the peace of mind. Same idea as insurance I guess. My thoughts anyway, for what the worth.
Doubling the factory warranty is giving you 6 years of coverage... You are paying 1400.00 for 3 years. That's 466.00 per year for extend coverage. I agree that extended coverage is peace of mind and the whole 9 yards of reasons why it is good to have it.

My whole point is this........ IF you were getting 6 years ON TOP of the 3 year factory warranty.... the deal wouldn't be bad at all. What is happening is, customers that opt to purchase the extended warranty are paying again for 3 years they already paid for the first time when they purchased the car. The extended warranty entrapment, is you ARE NOT getting additional years added on. Why pay twice for warranties that are already incorporated into the cost of the car?

I've talked to people that don't fully understand the whole concept of this practice. When they finally do "get it" they feel hoodwinked. The dealers do not tell you this because they make $$ on the policies. I have called every dealer on this issue when I purchased cars for me, and my kids when they went into their sales pitch. When put on the spot they all say the same thing. Yea I know but we are required to try to sell you this.

If a dealer wants to sell you a 5 year extended warranty, then that warranty should begin from the day your factory warranty expires. Not give you only 2 years of warranty under the false pretext of you are getting what you really paid for, because you are not.

I am not into paying for something twice. There is always that chance something will go wrong, and if it does.... oh well it's a chance you take.

Some extended warranties do not give you the full bumper to bumper warranty, they only cover major issues. Some extended warranties do cover bumper to bumper. Many people are so excited at getting a new vehicle they fall for this sales pitch and do not realize what is actually going on. I don't begrudge anyone who opts for this.. The wording governing this issue should be spelled out clearly for what it is. In this case, a 3 year extended warranty for 1400.00.
 

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Discussion Starter · #19 ·
Thanks, I'm not sure if I'm convinced to extend. I think this car will be around in my drive for a long time. Learn much in this post, great info. Seems all my stuff breaks after 100K and cost thousands so not sure if it would help:willy: .
 
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