Extended warrantee question

[dbwade]

Extended warranty question

I just bought an 01 coupe w/ 25k miles on it. (Thus, out of warranty period). I decided to go ahead and buy an extended warranty. It is a 4 yr/32k bumper to bumper GM warranty, w $50 deductible. It cost me a little over 2k. Did I make a mistake or was it worth it for peace of mind?

 

['04 Torch Red]

I just bought an 01 coupe w/ 25k miles on it. (Thus, out of warranty period). I decided to go ahead and buy an extended warranty. It is a 4 yr/32k bumper to bumper GM warranty, w $50 deductible. It cost me a little over 2k. Did I make a mistake or was it worth it for peace of mind?

==========================================================
With your $2,000 investement you can easily get $20,000 worth of work done..Now...do you still think it may have been a mistake?

 

[bradfordsvettes]

a gm policy is the best there is there is very little dispute on repairs compared to other aftermarket policies it is worth the extra money steve

 

[bluecoupe]

Cheap insurance. They are great machines but not perfect. (BTW I've spent $1900 on my 97 Cavalier over the past two years for repairs. It's not hard to do.) Parts and labor cost$ are very high. I have a policy on my 01 Corvette (good until 2007). I figured I would pay them now rather than pay them later.

 

[dbwade]

One other thing. I bought the warranty as a 3yr/36k no deductible (got it in writing), but on the way home today, the finance guy called me & said that GM can't provide a zero deductible on a used 01 vette anymore & that I had to change to a $50 ded. Does this sound right? Should I dispute it, & if so, who should I talk to? Dealership owner? GM rep?

 

[Tom73]

Most will have some type of deductable. Be sure and carefuly read the policy (perferably before paying any money) to be sure what is covered.

 

['04 Torch Red]

no no

a gm policy is the best there is there is very little dispute on repairs compared to other aftermarket policies it is worth the extra money steve

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:eyerole I respectfully disagree...I bought a 7 year 60,000 mile extended warranty for my '04 and it covers more than the GM warranty...even has emission warranty covering over 18 parts..and I paid $1250...Warranty Direct...check it out for yourself

and BTW...$0 deductible

 

[bluecoupe]

One other thing. I bought the warranty as a 3yr/36k no deductible (got it in writing), but on the way home today, the finance guy called me & said that GM can't provide a zero deductible on a used 01 vette anymore & that I had to change to a $50 ded. Does this sound right? Should I dispute it, & if so, who should I talk to? Dealership owner? GM rep?

That may be true but the price should be lower then. I looked on the GM Major Guard site (see links below) and they only have $0, $100, $200 deductible listed. ??? You do have time (by law) to reconsider the entire sale. Telling you it was $0 then changing it to $50 per incident sounds like "Bait and Switch". It could have been a mistake (unlikely if he's the F&I person) but he should know how to do his job. Ask to talk to the General Manager. Remember that the General Manager gets a cut of the whole business operation including the Service Department. (Not just the sales and (F&I) extended service contracts like the sales manager does.) You want to talk to the General Manager or the owner. He/she will not want to lose your business especially on a Corvette. They have room to negotiate, the price isn't set in stone. If you have paperwork that says $0 deductible make a copy before go back there and they take it back and make changes to it or destroy it. GM will spank them if they are caught doing anything underhanded. You now have the upper hand. See what they'll take off the price.

Read this and go prepared. (Make sure they are talking about Major Guard? How much mileage per year you estimate you will drive will also affect the cost of the policy. Don't buy too few or too many miles.)

http://www.gmprotectionplan.com/coverage_choice.cgi?selectedid=&dealer_code=&dealer_email=&submitpage=


The GM Protection Plan offers three levels of mechanical coverage (Major Guard, Value Guard and Basic Guard) designed to meet your needs. To see what is covered by each plan - and to compare the plans - click below on each of the individual components.
http://www.gmprotectionplan.com/product_options.cgi
http://www.gmprotectionplan.com/coverage_comparison.cgi

What if you're not satisfied with the GM Protection Plan?
The GM Protection Plan comes with a GM money-back guarantee of satisfaction. You get a full refund if you cancel the Plan within 60 days of purchase and no claim is filed. After 60 days, your refund is prorated, (less a small administration fee). See your GM Dealer for details.<A href="http://www.gmacfs.com/insurance/mechanicalrepair/majorguard.htm#top">

Hope this helps,
Frank (bluecoupe)

 

[bluecoupe]

[QUOTE='04 Torch Red]==========================================================
:eyerole I respectfully disagree...I bought a 7 year 60,000 mile extended warranty for my '04 and it covers more than the GM warranty...even has emission warranty covering over 18 parts..and I paid $1250...Warranty Direct...check it out for yourself

and BTW...$0 deductible[/QUOTE]

Emission parts are covered for 8 years 80,000 mile by federal law. No extended warranty is needed for that. (See your manual for more information on what is covered.)

 

['04 Torch Red]

Emission parts are covered for 8 years 80,000 mile by federal law. No extended warranty is needed for that. (See your manual for more information on what is covered.)

==========================================================
But all of these emission parts are not covered by the above:

Oxygen sensor, MAP sensor, Mass air flow sensor, Anti-knock sensor, EGR/EFE valve, EGR/EFE Thermal Vacuum Switch, Air Pump, Canister Purge Solenoid, Deceleration Valve; Air Induction System; EGR Recirculation System; Fuel Sensor; Fuel Tank Pressure Control Valve; Intake Manifold; PCV System; Powertrain Control Module; Secondary Air Injection System; Throttle Body Assembly (MFI)
Warranty Direct does cover all of these emission parts

 

[bradfordsvettes]

[QUOTE='04 Torch Red]==========================================================
:eyerole I respectfully disagree...I bought a 7 year 60,000 mile extended warranty for my '04 and it covers more than the GM warranty...even has emission warranty covering over 18 parts..and I paid $1250...Warranty Direct...check it out for yourself

and BTW...$0 deductible[/QUOTE] we will see how your new car policy is down the road and how they handle your claims some of them will do what ever they can to get out of paying. also it appears yours is a new car plan which gives you more coverage and lower deductable than what is usually available for used cars.I have been in the field for 27 years and never saw a problem with gmpp paying a claim. I can not say the same for aftermarket plans only a techs observation and opinion :argue Steve

 

['04 Torch Red]

we will see how your new car policy is down the road and how they handle your claims some of them will do what ever they can to get out of paying. also it appears yours is a new car plan which gives you more coverage and lower deductable than what is usually available for used cars.I have been in the field for 27 years and never saw a problem with gmpp paying a claim. I can not say the same for aftermarket plans only a techs observation and opinion :argue Steve

Congrads on your 27 years in the field:eyerole ...I have had many friends who had trouble with the extended GM warranty and many friends who did not have a bit of trouble with Warranty Direct paying huge sums without even examining their warranty claims...(they sent no rep when each individual claim was under $4,000 and even if over $4,000 they got approval within 24 hrs...and also, the 8 year federal emissions warranty you spoke of that GM covers, only covers several components of the emission system and Warranty Direct covers over 18 emissions parts which they list in writing and they also do not exclude overheating as an excuse to exclude a claim like GM does...fact!...and also Warranty Direct lists all of their exclusions which means that anything not listed IS covered...GM does not list everything that they cover and leaves a lot of parts out...and BTW I wasn't arguing with you as you showed with your smilies...I was discussing..there IS a difference! :L

Oh yea and btw again...my GM bumper to bumper warranty doesn't even expire until May 2007 or 36,000 miles then I have 4 more years and up to 60,000 miles on the odometer, starting with Warranty Direct...so I guess I have the best of both worlds and during the first 3 years with GM ...if GM doesn't cover something then the Warranty Direct will suplement what ever GM doesn't cover(within the policy of what is covered)

 

[bradfordsvettes]

well i guess you know best :eyerole . All I was stating was an opinion and all aftermarket warranties are not as good as you state yours is or may be just a buyer beware that is all that was meant by my post. sorry!!! Steve

 

['04 Torch Red]

well i guess you know best :eyerole . All I was stating was an opinion and all aftermarket warranties are not as good as you state yours is or may be just a buyer beware that is all that was meant by my post. sorry!!! Steve

Its ok Steve:L

 

[bradfordsvettes]

take care Steve

 

[bluecoupe]

[QUOTE='04 Torch Red]==========================================================
But all of these emission parts are not covered by the above:

Oxygen sensor, MAP sensor, Mass air flow sensor, Anti-knock sensor, EGR/EFE valve, EGR/EFE Thermal Vacuum Switch, Air Pump, Canister Purge Solenoid, Deceleration Valve; Air Induction System; EGR Recirculation System; Fuel Sensor; Fuel Tank Pressure Control Valve; Intake Manifold; PCV System; Powertrain Control Module; Secondary Air Injection System; Throttle Body Assembly (MFI)
Warranty Direct does cover all of these emission parts[/QUOTE]

I looked at Warrany Direct's web site. Very impressive. Worth a look. Has anyone else here used them?

 

[kingman]

Ask and you shall find out!!!1

Hi

As far as having an extended warranty on your 01 with 25,000 miles is probably for your own well being only. I really cannot think of anything happening for a while unless the unexpected happens. Which is not that rare,

Anyway l wouldn't worry about the deduct and l would only go for the $500 deduct because the overall cost will be lower and if l had a problem and it was under $500, l would be thrilled.

I never heard about Warranty direct and would favor GM but ask your sevice advisor if they had any dealngs with them and do you have to pay the bill and then get reimbursed.

Start a thread and ask about Warranty Direct.

Alan

 

['04 Torch Red]

Hi

As far as having an extended warranty on your 01 with 25,000 miles is probably for your own well being only. I really cannot think of anything happening for a while unless the unexpected happens. Which is not that rare,

Anyway l wouldn't worry about the deduct and l would only go for the $500 deduct because the overall cost will be lower and if l had a problem and it was under $500, l would be thrilled.

I never heard about Warranty direct and would favor GM but ask your sevice advisor if they had any dealngs with them and do you have to pay the bill and then get reimbursed.

Start a thread and ask about Warranty Direct.

Alan

I also have a 1995 ZF6 speed Vert and I got a warranty and I took it in 7 times this past year and had a total of $9,500+ work done on it and I paid the $100 ded. each time but in hindsite I would get a $0 ded. If you had a $500 ded and took it in 7 times for work(most repairs are way over $500...example:...I had both window regulators/motors replaced at one time and it was $822...)..I would have paid $3,500 just in deductible for my repairs...so who wants to pay $500 each time you go in for a repair?...anyway its best to get a $0 deductible and that alone will save you thousands of dollars...

And btw...with Warranty Direct the service advisor/writer calls in the repair and gets it approved on the spot and Warranty Direct pays immediately by corporate credit card so you do not have to pay and then get reimbursed...

 

[MsSchroder]

[QUOTE='04 Torch Red] but in hindsite I would get a $0 ded. If you had a $500 ded and took it in 7 times for work(most repairs are way over $500...example:...I had both window regulators/motors replaced at one time and it was $822...)..I would have paid $3,500 just in deductible for my repairs...so who wants to pay $500 each time you go in for a repair?...anyway its best to get a $0 deductible and that alone will save you thousands of dollars...
[/QUOTE]

Now THAT is a good point, which I had not thought about before.
Be careful not to think of the deductible as something that at worst, you'll pay only once, like a deductible on collision insurance. You may end up paying it multiple times.

 

['04 Torch Red]

Now THAT is a good point, which I had not thought about before.
Be careful not to think of the deductible as something that at worst, you'll pay only once, like a deductible on collision insurance. You may end up paying it multiple times.

Thanks Tammy (still working on finding someone with the right size plates...)