Extended non GM warranties

[TEDF]

I have a C5 that's coming out of the factory GM warranty. The GM extended warranty is expensive compared to some the the warranties offered on the internet. Anyone had any experience with them? Any recomendations?
Ted F

 

[Edmond]

Ted,

No experience but I do have a theory. My theory is that with the GM warranty, you'll have a lot easier time of getting repairs done because it is a GM warranty. I don't think the dealerships would be so quick to service your vehicle if it were a third party extended warranty service.

 

[Ctfoodguy2000]

There are numerous threads on this subject. After doing my research, I bought the GM plan. I have heard, and read, too many horror stories with aftermarket warranties. That does not mean all are that way, however why spend all that money on your Vette and worry about saving a few hundred dollars on a warranty? Only my opinion

 

[vette-dude]

I used to work as a cust. service rep for GE Capitol aftermarket service warranties. Take my advice and go with the GM warranty. Think of these aftermarket warranties like you do of an HMO health plan. Worked there about 6 months and then my ethical nature took over and I quit. Got tired of telling customers they weren't covered for their repairs!!!!! The goal was not how many claims we processed but how many we denied. Go with the GM and you won't have a problem. It is more expensive but very rarely do they deny a claim.

Randy

 

[AmosF16]

Consumer Reports had an article on warranties recently--biggest surprise to me, though it makes sense, is that like all things at the dealership, the price of the GM warranty is negotiable. The article was pretty interesting--I don't have the issue, but it's recent and worth reading before making a choice/deal.

 

[sothpaw]

well maintained

If the car has been well maintained, why purchase an extended
war. at all? Even the aftermarket ones are expensive enough
that you can do some decent repairs for the price of the war.

 

[JohnnyC]

Warranty Gold

The previous owner of my Corvette had Warranty Gold and it was EASILY transfered to me. http://www.warrantygold.com/. MANY parts have been replaced from what the dealer told me as well as he said they are one of the best, lucky no problems so far under my care. I have the Diamond Plan and covers most failure of parts. The price was $1,578 for 37 month or 37,000 miles.... I am covered until 88,000 miles sweet. $50 decutible.

Take a look at them, previous owner was very happy with them. But i have luckly (knock on wood) not needed them.

John

 

[yankees1]

I also did a lot of research and ended up buying Warranty Direct. Could not have made a better decision! Price was much less then GM and they have paid great! No problem in getting service from dealers. An old company with a LARGE reserve. Took the Warranty Gold policy.

 

[danl72]

I have an extended warranty as well. It covers bumper-to-bumper and I have had no problems with the dealer. The benefit of other warranties is that they cover you for a longer period of time. The GM warranty goes from the original purchase date. My warranty started on the day I purchased it. 7 years/100,000 miles. I had 40,000 miles on my Vette when I bought it. The warranty covers the Vette to 140,000 miles or 7 years (2008). It has a $0 deductable and cost $1,300.

 

[JBsC5]

I have an extended warranty as well. It covers bumper-to-bumper and I have had no problems with the dealer. The benefit of other warranties is that they cover you for a longer period of time. The GM warranty goes from the original purchase date. My warranty started on the day I purchased it. 7 years/100,000 miles. I had 40,000 miles on my Vette when I bought it. The warranty covers the Vette to 140,000 miles or 7 years (2008). It has a $0 deductable and cost $1,300.

Dan,

That sounds like a great warranty..do you worry that the warranty company will go out of business?

Thanks for your response.

JB

 

[les]

Check with your insurance Co

The price beat any thing we tried on my Son's Trans Am. I bought an extended Warranty on my Vette from the dealer for about 1500$:cool

 

[dens56]

I tired to buy a GM extended warrenty and they refused me. My car was out of warrenty according to the time frame (past 36 months) but the miles were OK (31,000). I bought the car from a dealer and thought for sure they would extend it. I've looked at several independent warrenty companies and decided that I would take the $1500 that I would spend on a warrenty and use it to fix anything that might go wrong that I couldn't fix myself.

 

[JBsC5]

Not buying a warranty and just using the cost of the warranty to pay in case the car breaks is something I've thought of too..

The only thing is...over the years of reading on the net..I've sort of come to the conclusion..that the items like sensors or bcm..or pcm..or whatever..if and when they go..they can cost a lot of money..

One hit..in the period of the extended warranty can often justify its purchase.

I'm not a person who in other areas..really goes for this whole extended warranty thing.. yet with what I've seen as far as cost of repair...tend to want to cover myself in the event of just one or more annoyance....

Just tempted by the warranty company Dan72 mentioned...vs..the traditional GMMP extended.

I try and look at it from a traditional annual cost ...

Whats 300 to 400 dollars a year? To not have to concern myself with any issue that might crop up?

I think the one for 7 years/88K miles that was purchased..for 1500 dollars..

Thats like 200 dollars a year..(thats like the cost of one night out hiring a babysitter, going to dinner and then a movie with the wife if I splurg buy her kids popcorn... ) All kidding aside..that aftermarket one is tempting as hell.. $1500 for 7 years..

I look forward to Dan filling us in on which company it is...and how he feels about the stability of the insurance company..

I probably will still go with GMPP just so I don't have to concern myself ..but sure would like to know..

Thanks in advance.

 

[1FASTDOG]

As has been mentioned, the GMPP plans are negotiable other than those purchased from Florida dealer as the states law prohibits discount pricing of "insurance" policies sold in Florida. Floridians can purchase a GMPP from a dealer in another state...as can a person from any other state as well and shop the best price.

I can't speak on the relative merits of other companies plans as I have never gone with any other than GM.

What's not really apparent in understanding the GMPP is that it begins from the original date the vehicle was placed in service and one underadvertised benefit is that it reduces the timeframe of rental reimbursement offer toward alternate transportation DURING the new vehicle warranty. As some may know, under the NVW a repair must require more than 8 hours to perform, or require staying overnight at the dealer before rental reimbursement < usually "loaner car" being offered. GMPP holders have the time to perfor repair reduced to 2 hours being the trigger for rental reimbursement... this can make a difference.

Having any kind of extended plan really depends on a couple of factors, I think. How long a person intends to keep the covered car and if they want to insulate themselves from repair expenses during a period after the NVW expires. Extended plans don't make a lot of sense for a person who turns their cars often, HOWEVER; if you sell your car privately when you move to another car... a extended plan can be a deal maker. It's a $35.00 transfer fee to the next owner to pick up the extended coverage. I'd personally find a Corvette with service coverage, for instance to 100,000 and 5 or 6 years in length more attractive to consider than one that's near or out of the NVW. I'd be more inclined to pay a higher price for a car from a private party if I knew I could get service from any GM dealer nationwide rather than hope for the "best" on an uncovered vehicle or even a vehicle covered by an unknown underwriting company's policy.

Extended service plans really are someting to think long and hard about.

 

[JBsC5]

Thanks for the information..its funny I had an extenede dGMPP warranty on my 99 and I'll be damed if the dealer I traded that car in..told me..to just get a refund ..

I picked up the extended warranty in the 34th month..sold the car in the 42nd month..never used the warranty but got back...about 90% of the purchase price.

That was a nice deal..

For those considering the value of an extended warranty..its really something these corvettes should have..actually any car today..

The plug and play repair meathod of many shops..could become quite expensive as they try and track a problem.

In a C5..the fuel sending units..have a tendancy to go out..and its a labor intensive job ...it has a tendancy to happen even just out of warranty...for a few weeks....

thats just one example..but the bcm's have a tendancy to go bad..and they are 900 a pop..I think..

If a fuel sending unit goes..or a body control module..your covered..

It happens a lot more on these forums than many of us would like to admit..

And it has nothing to do with GM quality..its just the nature of the beast in todays cars....

BTW..BMW just issued an extended 6 year/100,000 mile warranty on all M3's based of the existing generation b/c I think 100 of them blew up..

Now thats a proactive and smart move by BMW..I bet the parts supplier will be picking up the tab..on that..

Will GM ever be so proactive..probably not..so I figure..spend now..or spend later..the bill is definitely coming at some point.

Now its just a question of GMPP or aftermarket like Dan72..

1300 dollars for 7 additional years and an additional 100,000..miles..Thats unbelievable..It sure is tempting..

 

[yankees1]

My warrany from Warranty Direct[Warranty Gold] cost me $850.00. It is a bumper to bumper and zero deduct! My vette was new when purchased. I can take to any mechanic and Warranty Direct will pay instantly via credit card to mechanic. Warranty Direct owned by Prudential Life Insurance and have mega bucks in reserve. They carry reinsurance also for added safety.

 

[danl72]

Dan,

That sounds like a great warranty..do you worry that the warranty company will go out of business?

Thanks for your response.

JB

The warranty is American Guardian Warranty/Automotive Select. I checked them out and I have a friend in the business that recommended them. He says that they are one of the best and have been around a long time. They cover you from coast-to-coast.