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Old 09-12-2014, 05:12 PM   #1
xinfamousxi
 
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Extended warranty, Yes or NO?

What is the census here about extended warranty? Finance agent was pushing it like no other. I have a week to decide.
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Old 09-12-2014, 05:36 PM   #2
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10 years and 100k miles are enough for me.
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Old 09-12-2014, 05:42 PM   #3
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No, you will be modding it long before the warranty is up.
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Old 09-12-2014, 05:47 PM   #4
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If it is a GM extended warrantee and you plan NO mods it may be worth it . But you need to get it for 25% less then the asking price. Shop it on the net .Google GM extended warrantee for sale ,you will get a better price on it .Then go back and say " I am going to buy a gm extended warrantee and I found a better price will you meet the price ? He will . If he won't it would surprise me ,because a GM extended warrantee is honored at any Chevy dealer and his dealership will have to honor it anyway so they may as well make the sale and smaller profit on it .
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Old 09-17-2014, 08:10 PM   #5
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First off, dealers are independently owned and they don't really "have to honor that." They can recommend that you go to the dealer that sold you the warranty. It happens everywhere. Warranties are a gamble. If you or someone you know can fix the car. May want to skip it. If you cannot, then it may be worth it. If you have it and never use it, it's a big waste. But it can pay for itself with one major repair. Keep in mind there is no such thing as an extended bumper to bumper warranty. Especially if it is a non gm warranty. There are always exclusions. I see many customers that buy an extended warranty that still end up with a large repair bill because they did not read the fine print. If you are going to get one get it from the dealer you plan on servicing with. They are more inclined to work with the company and may be able to get claims pushed through. Do not buy from some independent. You will struggle to find a shop that wants to work with that company. And they may only cover a portion of the repair. Such as only covering up to $50 per hour labor rate and your dealer charges $100. You will pay the difference. Hope this helps.
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Old 09-23-2014, 07:25 PM   #6
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Don't bother buying any warranty that they offer, the dealership would always have you pay out of your own pocket regardless.

They wanted me to pay $600 for a defective rear driver side tire just now.
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Old 09-23-2014, 07:29 PM   #7
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I have 65k on my Camaro, bought it used through a Toyota dealership and bought the extended warranty... Since then I've tuned my car through Diablo and ordered headers for her (heard if anything will void the warranty, would be the tune, not the headers) it's a Diablo trinity though and I could flash it back to stock, so pretty much hoping if anything had to be worked in, I would pray they don't use a ecu flash counter. Think (if it were possible) I should try to cancel the warranty at 65k miles?
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Old 10-13-2014, 03:20 PM   #8
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I bought the GMPP MajorGuard extended warranty for $1,056 right before the 3 year factory bumper to bumper warranty expired. The GMPP warranty I purchased is for 60 months and starts when I bought it so essentially my car is covered bumper to bumper out to 8 years now. I realize that neither the factory warranty or extended warranties cover consumable parts such as tires, brakes, batteries, hoses etc. but pretty much all other mechanical and electrical components are covered.
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Old 10-13-2014, 04:29 PM   #9
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Originally Posted by Camaro57 View Post
I bought the GMPP MajorGuard extended warranty for $1,056 right before the 3 year factory bumper to bumper warranty expired. The GMPP warranty I purchased is for 60 months and starts when I bought it so essentially my car is covered bumper to bumper out to 8 years now. I realize that neither the factory warranty or extended warranties cover consumable parts such as tires, brakes, batteries, hoses etc. but pretty much all other mechanical and electrical components are covered.
So is it basically like bumper to bumper coverage?? If so where did you get it from?
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Old 10-13-2014, 04:49 PM   #10
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Old 10-13-2014, 04:58 PM   #11
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Yes, it is basically bumper to bumper coverage other than consumable parts and does not cover paint/ body corrosion issues. I got my GMPP Majorguard extended warranty a while back from gmoutlet.com but they are no longer selling that specific plan. You can still get GMPP Majorguard from other places including: http://www.bellgmpp.com/?page=gmpp_major_guard
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Old 10-17-2014, 04:56 PM   #12
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Can any of yall answer my question?
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Old 10-17-2014, 05:31 PM   #13
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How much is it? With all the problems everyone has been having I kind of wish I would have bought it for peace of mind.
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Old 10-18-2014, 03:24 PM   #14
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Finance guys and gals always try to push warranties. It is big profit for them. Some situations it is a good idea, if it is a good company.

Good warranty companies are hard to find and expensive, and good coverage is also expensive.

That is what you want it exclusionary, which typically is like your bumper to bumper. Although since bumpers are not usually covered it is illegal to say bumper to bumper, but that is another issue.

The other type coverage which is usually less expensive is name stated, which covers a list of items. Not as good of coverage.

Another thing is to consider is the company that holds the paper. The warranty company. Some companies find a way to get out of paying or short pay claims, perhaps even most companies.

So you want a company that doesn't jack you around if you should have a claim.


Some warranties the clock starts ticking as soon as you buy it so on a new car it doesn't make sense while under the factory warranty.


Warranty companies are smart and do there homework and 90% of the time will make money on you. Otherwise they would go out of business.

It is all based on loss ratios and how much is out there. It is better to have 100000 contracts on X vehicle than 10000. They have more data, and a big claim gets spread out more and so forth. It actually is quite complex to calculate the risk on X vehicle, but what they are betting on is you will only use 70 to 80% of the original cost of the warranty, and that is cost to the dealer.

So you can kind of do the math that chances are it will cost you much more to have a warranty than you will actually use.

However, what I or any warranty company cannot calculate is your peace of mind. If it makes you sleep easier at night then who am I to say.


BTW $1065 is way too cheap for a bumper to bumper. IE exclusionary coverage. In fact GMPP MajorGuard extended warranty is not a "bumper to bumper" warranty. It is enhanced powertrian coverage, or rather name stated.

It is NOT bumper to bumper coverage. It is name stated. They are different so lets not try and confuse the two.

Nevertheless, it is probably decent coverage for the money. That is about one would expect to pay on an enhanced or name stated coverage for 3 years from someone who didn't gouge your eyeballs out.

But I have seen basic PT warranties sold as full coverage for $3000.00, boy those people sure get a wake up call.

A good bumper to bumper coverage for 3 36 would be more in the ballpark of $2500 for a Camaro.

It is also likely to be underwritten and administrated by an insurance company and not GM.

That is just a brief over view there is a lot more to warranties. It is somewhat complex, but the consumer rarely comes out a head.

Last edited by Exgie; 10-18-2014 at 03:34 PM.
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Old 10-18-2014, 03:28 PM   #15
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Quote:
Originally Posted by Joker853 View Post
I have 65k on my Camaro, bought it used through a Toyota dealership and bought the extended warranty... Since then I've tuned my car through Diablo and ordered headers for her (heard if anything will void the warranty, would be the tune, not the headers) it's a Diablo trinity though and I could flash it back to stock, so pretty much hoping if anything had to be worked in, I would pray they don't use a ecu flash counter. Think (if it were possible) I should try to cancel the warranty at 65k miles?
thats your call. if they check your ecu, then you will more than likely not have the warranty honored, but then maybe you can cancel it then and get some of the money back.
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Old 10-18-2014, 03:39 PM   #16
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thats your call. if they check your ecu, then you will more than likely not have the warranty honored, but then maybe you can cancel it then and get some of the money back.

Maybe. That is state by state regulated. Some states like Colorado a warranty company does not have to refund any money. Then it is up to the warranty company and what their policy is on cancellations.

Some companies do not nit pick mods unless it was clearly abused or they just don't want to pay out on a big engine claim for some reason or another.

Another thing to consider is most, no matter what, wont pay over ACV for a claims and some of those are aggregate.
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Old 10-18-2014, 03:51 PM   #17
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Originally Posted by xinfamousxi View Post
What is the census here about extended warranty? Finance agent was pushing it like no other. I have a week to decide.
These are the questions that need answered.

New or used car purchase?
If used what is the current miles?
What is the coverage?
How long is the coverage?
Who underwrites and administrates it?
How much does it cost?
What is your peace of mind worth?

I would not recommend an extended warranty 90% of the time.
There are a few problem cars that warranty companies haven't caught wind of yet or they have enough low risk cars they can toss a few high risk cars in the mix, and there are some good quality warranties that are terribly expensive for what you get. There are a few instances where I would say yes, but they are limited and have to fall into a really specific categories. For instance, on a vehicle where you are almost certain to have a specific failure that exceeds the contract price and the company is a good one that will pay the claim without giving you too much grief. It is rare where all the peaces come together that it makes sense to get an AM warranty but they do exist.
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Old 10-18-2014, 03:53 PM   #18
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The dealer marks it up, so you end up paying a lot for that warranty. I denied it at the time of purchase and it brough my monthly payments down $50. Also it wasn't even the GMPP they were selling.

IF you don't play on heavy mods, it might be worth having it. /but the factory power train warranty already covers a lot of the bigger items. If you really want accurate pricing, call GMPP directly and see how much it will cost buying from them.
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Old 10-19-2014, 12:15 AM   #19
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While the GMPP extended warranty may not be true bumper to bumper coverage as there are a few things left out such as paint and body corrosion, I would argue that it is more than enhanced power train coverage. It does cover almost all mechanical and electrical components in the entire vehicle, not just the power train, if the transmission fails it is covered (I realize this is part of the power train), if the audio system fails it is covered, if the heater core leaks it is covered, if a power window motor fails it is covered etc. I have had all of these problems at one time or another on previous vehicles and had these items covered under the extended warranty. Maybe I have worse luck than most but the GMPP extended warranty has been helpful to me. I agree it is an individual decision and there is no right or wrong answer on whether you should purchase an extended warranty. Most of my problems seem to happen when the vehicle is about 5 to 7 years old so I try cover my vehicle with an extended warranty out to at least 7 years. As mentioned above, by shopping around, I was able to cover my Camaro 2SS with a GMPP extended warranty out to 8 years for $1,056 which I think was a good deal. When I purchased the vehicle the dealer tried to sell me a GMPP extended warranty that covered the car out to 5 years for $2,200 which I rejected.
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Old 10-23-2014, 10:32 AM   #20
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My stress reliever was not having to wait for the warranty to run out before cam and headers. Mine is not DD and I do my own work so if I break something...I fix it.
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