Extended Warranty

[RallyellowRS]

When you bought your Camaro, how much did the extended warranty cost? I did not buy the extended warranty, now I'm kicking myself. I called my dealer if I bought a EW now it would cost $2,175 plus tax. This would cover 7 years/ 50,000 miles. I have a 2012 with 13,500 miles on it. do you think it is worth it? I plan on keeping this car.

[batman53201]

i was never into extended warranties, and i never had a car that broke down in the extended warranty time frame

[baum]

its a gamble....

back in the day i would say no to them, but with how much these are computer controlled there is alot that can go wrong. yes they have a good powertrain warranty but if a computer goes it can cost upwards of 1-2k. hell just look at all the heater cores you see people changing on here what would the labor cost to remove a dash.

i think i paid about $1200 for a 100k mile/5yr. keep in mind they are negotiable the only difference in getting it when you get the car vs getting it after is you cant roll it into your loan. as long as your within your factory warranty period it should be the same cost as new.

[Ace0751]

I have been thinking about this myself and also around the same price range. They said it would be $100mo which doesn't sound right so I need to call them about that. I plan on getting it, like baum said so many computer parts in there and if one thing goes wrong it will cost a bundle. It's better to have it and not need it than not having the warranty and something goes wrong. Up to you what you want to do.

[pyroguy]

Depending on when you bought it, you drive between 4,000 to 7,500 miles a year. The extended warranty on a heavy mileage vehicle (25,000+ miles a year) is still a rip. They wouldn't offer these things if they weren't making BIG money on them. On average 60%+ of your cost is pure profit for them.

[damian559]

What warranty?

[Evergreen6]

Extended warranties can be bought at any time and it doesn't have to be through a dealer or even GM. A warranty is an insurance policy with defined terms and coverages. Lots and lots and lots of companies that sell them out there.

I don't buy extended warranties. What I do is set aside cash for repairs. The cash earns interest, and it can be temporarily tied up in other things if it's needed elsewhere.

If you do buy one, make sure you read the terms, then read them again, to make sure you understand exactly what is covered, what's not covered, and when, and by whom.

[Scalded Dog]

Originally Posted by baum

its a gamble....

Exactly... it IS a gamble, and the house ALWAYS has the advantage. Sure, sometimes the dollars you risk will pay off MORE than you paid, but in the larger scope, the math gives the house a clear advantage.

Slot machines and extended warranties are the same thing: You MIGHT be really glad that you dropped your money into it and spun the wheel... but you will probably just be donating it to The Man.

[garyw]

do not buy it.

they wouldnt have it available if they werent raking in the money.

50,000 miles?!?!? wtf, the gm warranty is 100,000 from the factory on drivetrain.

the warranty will do whatever they can to get out of it. ANY, ANY modification and they will deny the claim. you have to provide EVERY single piece of maintenance on the car, and you better not miss any.

i work at an auto repair shop and we see what happens on a daily basis. there is only 2 that are somewhat ok and they are Carmax extended warraties and Mercury insurance company has/had one i think for their customers. But even still, the vehicles dont break down THAT often. the old "them computers are expensive" gag is bs.

whats even more funny is the fact that they show you this list of "what is covered" and the strange thing is all the crap on that list never breaks! Well, its not so strange, they built that list on purpose to make it look good, "look honey, look how much it covers for just $2100."

They also dont cover: tax (so of them, the worse ones), coolant, feon, evacuate and recharge, alignments if front end parts are replaced and you have a deductible.

Remember the old anti drug slogan, "Just say no", well that goes for this too.

hope i helped, good luck.

[myold88]

Originally Posted by garyw

do not buy it.

they wouldnt have it available if they werent raking in the money.

50,000 miles?!?!? wtf, the gm warranty is 100,000 from the factory on drivetrain.

the warranty will do whatever they can to get out of it. ANY, ANY modification and they will deny the claim. you have to provide EVERY single piece of maintenance on the car, and you better not miss any.

i work at an auto repair shop and we see what happens on a daily basis. there is only 2 that are somewhat ok and they are Carmax extended warraties and Mercury insurance company has/had one i think for their customers. But even still, the vehicles dont break down THAT often. the old "them computers are expensive" gag is bs.



whats even more funny is the fact that they show you this list of "what is covered" and the strange thing is all the crap on that list never breaks! Well, its not so strange, they built that list on purpose to make it look good, "look honey, look how much it covers for just $2100."

They also dont cover: tax (so of them, the worse ones), coolant, feon, evacuate and recharge, alignments if front end parts are replaced and you have a deductible.

Remember the old anti drug slogan, "Just say no", well that goes for this too.

hope i helped, good luck.

^^^^ THIS !!
So much is not covered

[Camero5]

Originally Posted by myold88

^^^^ THIS !!

So much is not covered

I agree with this as well.

Every service guy I've talked to about extended warranty says its a nightmare. Sometimes customer cars sit at the dealer because they are fighting the claim adjusters for a payment and the customer doesn't want to pay the 5k repair bill.

Read the fine print is all I can say.

[Homer2]

I bought one.. everything is covered except liquids...brakes (wear items)... goes to 160K Km - was about 1200

[PalmerGA]

Originally Posted by RallyellowRS

I have a 2012 with 13,500 miles on it. do you think it is worth it? I plan on keeping this car.

Unless you have had some significant warranty-related repairs done, after only 13K miles, I wouldn't worry about it. EW's are rarely worthwhile.

[cadyshac]

Save your money.