Anyone plan on buying the extended warranty?

[LnLSS]

I always purchase extended warrenties on my cars especially the tire protection and in addition I also purchase or negotiate service contracts into the price. So far I have only had to replace 2 tires and tail light assembly but those type of things add up.

[upheval]

I could not agree more with Tag. 2 window motors and the computer for the tracktion control went out making my abs useless on my 2002 SS. I got it also for the Vette, too many gizmos that could go out on that thing even though I have had the car for a year and a half now and only have 7k miles on it. Its a bit more costly to repair then the Camaro was.

[Chewy]

for those talking about modding your cars, i'm sure theres a LOT of things that won't be affect by it and would be covered by the warranty still. like Tags window motors, or any module (unless you reflash it) or your brake system, or suspension and on and on.

i plan on adding a few modifications, but you'd have to change a TON of stuff to eliminate your entire warranty

[camarolt76]

Originally Posted by TAG UR IT

I'll get it.

I have the extended warranty for my current 02 SS which is actually transferable to the person that buys it from me when I sell it next year. Only costs $100 to transfer it. But, I've used it to replace the transmission and two window motors. Cost? $1,200 for the warranty. Cost for the tranny and window motors? about $4,000. Was it worth it? Do the math!

Yeah....I'll buy one.

The first thing I would like to point out is that GM did not offer the 5/100,000 mile power train warranty on 2002 cars. If they had then I would assume your transmission would have been covered by the factory warranty.

The second point I wanted to make is that I have the extended warranty on my wife's 2005 Monte Carlo. Recently we discovered that the car had a water leak in the passanger's side floor board. It also had a dash which was curling up in the front. Neither issue was covered by the extended warranty. I can possibly look the other way on the dash (however I still think that is completely unacceptable for a car 3-1/2 years old). However I could not believe that a water leak was not covered by the extended warranty! I will not be wasting my money this time.

[VICTORY RED 1SS]

Warranty beyond what comes with the car is just a waste of time.
It is a big moneymaker for the dealer though..

[teamlynn1]

one mans opinion is another mans nightmare ya know. The warranty profits are in the hundreds of dollars not thousands so they are really just a small portion of a dealers profits. We make more on fianance reserve than anything else sold in the back end (finance department) FYI. I just love it when someone comments sans the facts it always amusing to say th least.

The main point of this thread is if you plan to keep your vehicle past the comprehensive warranty 3/36 its probably a good idea to have an extended warranty purchased at a fair price. There will always be folks who debate this issue but to anyone who has ever used it its a no brainer. If you could extend your comprehensive coverage on a 2010 Camaro for about $1300 and make it run to 5/100 like the powertrain I say thats a good deal for any consumer. $1300 over a 72 month loan is about 20 per month to have peace of mind. Again a no brainer for me but others will argue that there peace of mind isnt worth $20 or that there issue wasnt covered etc. To each its own I say.

Originally Posted by VICTORY RED 1SS

Warranty beyond what comes with the car is just a waste of time.
It is a big moneymaker for the dealer though..

[CWI]

One more thing to consider is the fact that if you buy a 100K extended waranty, and you sell the car say at 40K, you can get a refund prorated for the unused portion. I don't know if alll extended waranties work the same, but I have taken the refund a couple times. You can also cancel at any time while you still have the vehicle. Most dealers don't tell you this up front but read the fine print.

[teamlynn1]

Good point and yes it is true if you get rid of your vehcile prior to the warranty expiring you do get a prorated refund back. Many of our customers use this as part of there down payment on there next vehciles purchase!

Originally Posted by CWIweldace

One more thing to consider is the fact that if you buy a 100K extended waranty, and you sell the car say at 40K, you can get a refund prorated for the unused portion. I don't know if alll extended waranties work the same, but I have taken the refund a couple times. You can also cancel at any time while you still have the vehicle. Most dealers don't tell you this up front but read the fine print.

[ZYAL8R]

Originally Posted by teamlynn1

one mans opinion is another mans nightmare ya know. The warranty profits are in the hundreds of dollars not thousands so they are really just a small portion of a dealers profits. We make more on fianance reserve than anything else sold in the back end (finance department) FYI. I just love it when someone comments sans the facts it always amusing to say th least.

The main point of this thread is if you plan to keep your vehicle past the comprehensive warranty 3/36 its probably a good idea to have an extended warranty purchased at a fair price. There will always be folks who debate this issue but to anyone who has ever used it its a no brainer. If you could extend your comprehensive coverage on a 2010 Camaro for about $1300 and make it run to 5/100 like the powertrain I say thats a good deal for any consumer. $1300 over a 72 month loan is about 20 per month to have peace of mind. Again a no brainer for me but others will argue that there peace of mind isnt worth $20 or that there issue wasnt covered etc. To each its own I say.

After reading this thread so far, I've come up with a different way of thinking for some who may be pondering buying the extended warranty. If it worries you, take the $20-30 a month and put into a savings account that earns YOU interest. If you ever experience a couple of bad window motors or leaking heater core after your original warranty expires, then BOOYAH, there you have the money to help pay for it. Your money is saved by "you", interest is earned for "you" and used by "you" for repairs or a later down payment on a new car (Camaro hopefully)!

Hard facts for unforseen repairs would be impossible to come by, but it would be very interesting to know how many people that bought an extended warranty actually needed it after all was said and done. Maybe we need a poll:seesaw:

[teamlynn1]

Interesting concept except what if your engine goes tits up or your tranny goes out $20 per month at 5 years is only $1200 even with interest nowhere near enough to cover the repair. Not to mention the lack of saving discipline most of us have, many people reading this do not even fund any type of retirement plan let alone a healthy savings plan. For some you method would work but for the masses the extra $20 per month added to your loan payment is truly inexpensive peace of mind.

Originally Posted by ZYAL8R

After reading this thread so far, I've come up with a different way of thinking for some who may be pondering buying the extended warranty. If it worries you, take the $20-30 a month and put into a savings account that earns YOU interest. If you ever experience a couple of bad window motors or leaking heater core after your original warranty expires, then BOOYAH, there you have the money to help pay for it. Your money is saved by "you", interest is earned for "you" and used by "you" for repairs or a later down payment on a new car (Camaro hopefully)!

Hard facts for unforseen repairs would be impossible to come by, but it would be very interesting to know how many people that bought an extended warranty actually needed it after all was said and done. Maybe we need a poll:seesaw:

[Mr_Draco]

For me it depends on how much it costs and how long it extends the warranty to. All the new vehicles we've had never needed any kind of warranty work until after the extended warranty would have ended so getting the extended warranty wouldn't have helped.

[Vash]

Royal Purple is your extended warranty.

Keep the ATF changed on schedule too.

[CWI]

Originally Posted by Vash

Royal Purple is your extended warranty.

Keep the ATF changed on schedule too.

Off topic, but ya, synthetics probably will extend the life of your drive train when used properly. The owners manual schedule of maintainence doesn't include any changes of fluids on AT or differential. '06 Colorado

[VICTORY RED 1SS]

Originally Posted by teamlynn1

I just love it when someone comments sans the facts it always amusing to say the least.

First of all thanks for calling me an idiot. I would certainly not shop at a dealership run by someone who treats people in that manner.

I actually do know what I'm talking about. I have worked for dealerships in management positions and am aware of profit levels on warranty packages.

True, total dollars isn't much and its more on the used car aftermarket warranties, but the margins on extended warranty are way higher than the profit margins realized on the vehicles.
Truth is, a high percentage (MOST) of new vehicle buyers do not keep their vehicle for 5 years. Also, I doubt many of these Camaro's see really high milage from their first owners.
Personally, I won't get to the 36000 anyway. I have lots of other vehicles to drive on a daily basis, so for me and anyone else who buys the car for a pleasure use only vehicle, the extended warranty is pretty much useless.

I also feel that by buying an extended warranty the customer is actually betting against himself in that the car will surely have problems.
doesn't instil much of a sense of quality in the product.

I am of the opinion that the customer who wants an extended warranty should get the dealer to throw it in with the deal. after all, as you say you make lots of money on warranty work, so whatever the cost it will come back as profit for the dealer.