Extended warranty or No?

[camaroshaun]

Hey guys I finally got my baby after waiting 8 months. But it was well worth it. I've had my CGM 1SS/RS for about a month. I am paying an extra 60 bucks a month on top of my car payment for the extended warranty. From 12 months extended to 36 months. I have 60 days to change my mind. I have been thinking it might not be worth it because I know how I am with cars. I always end up modding them within the first two years and am afraid of voiding the warranty. What type of mods might be OK without voiding warranty? Its not that I cant afford the payment I just don't want to be paying for something that might be worthless in the future. What do you guys think?

[Baughman]

The Camaro comes with a 5 year/100,000 mile warranty I'm pretty sure. I say 5 years is plenty. I would not pay $60 extra a month for a warranty. Check out the V8 powertrain and engine threads to learn plenty about modding and what you can and can't do. Here is the link:

http://www.camaro5.com/forums/forumdisplay.php?f=11

[67 Convertible]

You got 3 yrs/36,000 bumper to bumper and 5yrs/100,000 on the drive train.

What do you mean "from 12 months extended to 36 months."? I have never taken an extended warranty on anything. You are betting something will go wrong, they are betting it won't. Lots of extra cash in their pocket up front. Not really worth it unless your tranny or engine goes....and the odds of that happening are slim, it's a gamble just like going to Vegas.

$60 a month wouldn't be worth it to me, what's the bottom line of the price of the warranty? You could put $60 a month into a savings account and probably make out just as well, paying for any covered repairs yourself.

[aberg]

I got 7 year 50,000 for around $1,100.00. I think it is well worth it with all the computer components on the car. They will not be cheap to replace.Local consumer affairs say most new car extended warranties are good and the ones they try to sell you latter are not worth it.

[nards444]

like others said you should have gotten the GM standard they listed. to pay another 500 a year, isnt worth it. Who knows if you will have the car or not

[67 Convertible]

Originally Posted by aberg

I got 7 year 50,000 for around $1,100.00. I think it is well worth it with all the computer components on the car. They will not be cheap to replace.Local consumer affairs say most new car extended warranties are good and the ones they try to sell you latter are not worth it.

You already had 3 yrs/36K. No offense intended, but wouldn't a more accurate statement be that you got 4yrs/14,000 for $1,100? (assuming you got the premium bumper to bumper extension)

If you drive 12,000 a year (most people drive more than that) your warranty will end in just a little over 4 years total. So you paid an extra $1,100 to get maybe 14 months more coverage from the original GM warranty.

Maybe I'm way off here, but I really don't think it's worth it.

[Nova65]

I got the GMPP Major Guard 72 mo 72k miles bumper to bumper for $1300 they wanted $1800 but I talked them down. It has a $100 deductable. I figured I could save the $1300 in a savings account, but since this is the first year of production, I am sure there will be problems that can eat away at that $1300. My friends Tahoe blew his tranny right after his basic warrenty expired and it cost him over $3k to fix it. What do you think a tranny or one of these engines would cost to replace?

[Foster26]

I bought the 6 YR 48K mile extension for $920. I know 6 years will come before the 48K so it gives me another 3 years of bumper to bumper. I thought this was worth it for my situation.

[Vash]

Spend the money on a nice craftsman tool set and a set of service manuals. In my opinion. But only if your comfortable doing a little DIY. It's very rewarding to do your own post warranty work.

[CamaroSue]

I went ahead and took it. I got GM employee pricing at $975. For 84 months, 56,000 miles. I wouldnt have bought it if it wasnt a new model. And there are a lot of things on this car that are going to be expensive as hell to fix IF something does go wrong. I plan on keeping the car for a VERY long time. And I will put about 5,000 mi/yr on it. Just my two cents......

[Treadstone]

I think the extended bumper to bumper warranty is worth it! Especially for a first year car.

[Treadstone]

Doesn't the extended warranty start after the factory warranty? And not run concurrent?

[AMERICANMADE]

I used to justify not purchasing the extended warranty with the "add it to monthly saving account" rational too. If you want to count what you actually pay up front, consider the interest you loose, and the potential future worth of a buck, sure, it's likely going to cost you more than it is actually worth, BUT. I don't buy any new vehicle any more without the extension.

Olds Aurora - Radiator cracked twice after 36,000, cost me about $2000

05 Chevy Suburban - Can't list the number of smaller little shitty things after 36,000, still have non-working speedometer that failed at 37,500 that GM wants $700 to replace whole dash cluster.

09 Mazda 3 - AC compressor replaced at 16,000. Glad it was under initial (free) MFR. Warranty

I know I am ahead of the initial up front cash if I added up the last 10 years of service.

If you want to purchase piece of mind. Go for it. I'm glad I have. You pay mortgage insurance every year don't you? Most ppl never have to use it. Knock on wood!

[67 Convertible]

Originally Posted by valleybacker

Doesn't the extended warranty start after the factory warranty? And not run concurrent?

It is my understanding that if you buy a 5yr/60,000 mile warranty it picks up when the inital warranty ends, and you already have 3yr/36,000. So with a 5yr/60,000 extended warranty you are really paying that additional money for an additional 2yrs/24,000. You do not get 8yr/96,000 in this scenerio.