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Old 07-16-2009, 04:24 AM   #1
camaroshaun
 
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Extended warranty or No?

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?
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Old 07-16-2009, 05:29 AM   #2
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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
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Old 07-16-2009, 07:33 AM   #3
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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.
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Old 07-16-2009, 07:43 AM   #4
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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.
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Old 07-16-2009, 08:00 AM   #5
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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
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Old 07-16-2009, 08:06 AM   #6
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Quote:
Originally Posted by aberg View Post
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.
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Old 07-16-2009, 10:15 AM   #7
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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?
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Old 07-16-2009, 10:22 AM   #8
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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.
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Old 07-16-2009, 10:51 AM   #9
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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.
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Old 07-16-2009, 11:26 AM   #10
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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......
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Old 07-16-2009, 11:37 AM   #11
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I think the extended bumper to bumper warranty is worth it! Especially for a first year car.
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Old 07-16-2009, 11:50 AM   #12
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Doesn't the extended warranty start after the factory warranty? And not run concurrent?
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Old 07-16-2009, 11:58 AM   #13
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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!
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Old 07-16-2009, 12:12 PM   #14
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Quote:
Originally Posted by valleybacker View Post
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.
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Old 07-16-2009, 12:22 PM   #15
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I grabbed an extended bumper to bumper, my thoughts were that with the limited miles I'm putting on mine, things will go...(if they do) after the initial time period is expired.
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Old 07-17-2009, 02:04 PM   #16
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Thumbs down

You can get a better deal if you wait to purchase extended warranties until your original warranty is about up.

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Old 07-26-2009, 04:04 PM   #17
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Has anyone found a good deal on the GM extended warranty Major Guard? I was quoted $1690.00 for 60months/100,000 mile. I read somewhere their maybe dealers that sell the same warranty for less, I would think I can buy from any GM dealer correct? I will be putting 16,000 miles a year on my Camaro.
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Old 07-26-2009, 05:27 PM   #18
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Quote:
Originally Posted by Speedy One View Post
You can get a better deal if you wait to purchase extended warranties until your original warranty is about up.

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You hit the nail on the head. There are plenty of GM dealers who sell warranties at HUGE discounts all across the country. I found a dealer in Washington state that sold them barely above cost for my last GM extended warranty. I bought it when I had 1 mile left on my original
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Old 03-15-2010, 07:16 PM   #19
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Originally Posted by 67 Convertible View Post
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.
You know even if the Engine or Tranny goes out its covered by the standard GM 5/100 warranty so even this a mute point. What you are betting for is actually NON power train related repairs which are doubtful.
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Old 03-15-2010, 10:49 PM   #20
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I think the extended warranties are worth it on some vehicles. I work at a Ford dealer and they started offering a 200,000 mile diesel engine warranty. If you know anything about Ford diesels from 03 on up, one repair will pay for that warranty probably three times. We used to get the 03-04 Cobras in with blown engines all the time, that repair was around $11k if i remember right. My dealer doesn't sell or honor any aftermarket warranties, they usually wont cover any repair from my experience, stay away from those. You can purchase the factory extended warranty before 3/36 and you can finance it seperate from the purchase at 0% financing for up to 3 years. It just like insurance, you may never need it but if you do your glad you have it.
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Old 03-15-2010, 10:50 PM   #21
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Don't do it! Wait for your original warranty to expire, then choose an extended warranty.
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Old 03-16-2010, 08:45 AM   #22
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Extended Warranty can be misleading. Most of them require strict maintenance that is only required to be done at a authorized Dealership. And there is allot of strict procedures and rules listed and not listed in the fine contract.

Most of the main wear and tear parts are not covered like Clutch pressure plate throwoutbearing, etc.

What is actually covered is misleading as well. For instance some of them only states Transmission in the brochure, most of the times extended warranties, only warranty out parts that don't often break. Like for instance being misleading it says it covers the trans, but in fine detail they mean only the bellhousing side of the trans and not main part of the transmission were there is allot of mechanical parts to go wrong at. Most of the times there is a catch to every major part listed under warranty.

Most extended warranties are designed for the service department to make more money from you, many of the parts are not covered in the extended warranty and many people are misled about it because most of the times you only look at a the brochure. There are very fine guidelines that are not even listed in the contract and it could be a surprise until it happens.

For me if anything breaks i rather go with a better aftermarket part our if something needs to be replaced down the road i will cross that bridge when it is time to do so.
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Old 03-16-2010, 11:56 AM   #23
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Has anyone found a good deal on the GM extended warranty Major Guard? I was quoted $1690.00 for 60months/100,000 mile. I read somewhere their maybe dealers that sell the same warranty for less, I would think I can buy from any GM dealer correct? I will be putting 16,000 miles a year on my Camaro.

Get a quote from Craig Plante at Newman Chevrolet. He should beat that quote by quite a bit. Ask for 72 and 84 month quotes as well. The 60 month quote only covers non-powertrain, since the factory offers 60/100 on powertrain. Email him @ cplante@north2newman.com
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Old 03-16-2010, 12:36 PM   #24
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No. You don't need it. The 3year / 36,000 mile bumper to bumper and 5year / 100,000 mile power train that comes with it is plenty.
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Old 03-16-2010, 01:29 PM   #25
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No. You don't need it. The 3year / 36,000 mile bumper to bumper and 5year / 100,000 mile power train that comes with it is plenty.
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