Recommendations on extended warranty?

[froggy47]

Recommendations on ext warranty?

For a 96 LT-4 48k mi my credit union wants about $5200 for 4/40k ($50 ded), $4300 for same w/ $100. ded and $2900 for same w/$200 ded.

I forgot to ask what company but since they sell it at my credit union I figure it's ok.

I AM buying one decision has been made, just need to get the best deal.

Any good/horror stories to post?

Thanks.

 

[lt4 gs]

I'd reverse that decision, IMHO!

 

[Interceptor430]

Re: Recommendations on ext warranty?

For a 96 LT-4 48k mi my credit union wants about $5200 for 4/40k ($50 ded), $4300 for same w/ $100. ded and $2900 for same w/$200 ded.

/B]

Holy Crap! $5200?? That's 60% of what I paid for my Vette!

I'd shop elsewhere.....if you've not bought the car, then take the money for the car, and the $5200 for the ext warranty, and buy
a newer Vette under Factory Warranty.
JMHO.

 

[sothpaw]

good mechanic?

Froggy,

Do you know a good mechanic? What does said warrenty cover?

Especially if you know a good mechanic, I would not go with
a warrenty. Those who sell warrenties are out to make money,
they are betting that if you give them $2900 that you'll never
claim nearly that.

A clutch and flywheel job cost me $1700 from my mechanic,
parts and labor.

On a 7 year old car with 48k, I just don't see any other major
expenses, except optispark water pump. That should be
under $1000, parts and labor.

This warrenty doesn't cover tires does it? Nothing else big
should be repaired.

 

[froggy47]

I got a post from another forum member saying he paid $7000 for a clutch so the costs of repairs vary wildly! I know a couple of good shops but North County San Diego - everyone charges top dollar, If I lived in Iowa or someplace when prices are more sane I'd probably skip the warranty.

I've also found a couple of warranties online - used by other forum members - that are 1-2K a lot less than my CU.

I keep vehicles for a long time & every American car I've had & bought a warranty on - it's been worth it -more $$ covered in repairs than what I paid for the warranty.

Keep in mind I'm spending in the range of 15 - 20 K for the Vette & an extra 1.5 to 2K for 3 or so years of repairs seems smart to me.

Thanks for the feedback, I'm really looking for specific names of warranty companies that are GOOD ones to deal with & also ones to avoid.

Thanks!

 

[lt4 gs]

Unless the program is provided by one of the major auto mfg's. they are all worthless, IMHO. As a former auto dealer I think I am fairly well qualified to make that comment........also, let me add here that I used to be a regional sales manager for one of these warr. co's. from Newport Beach.........and we trained reps and agents how to deny paying claims. Just because they say it's covered, does not and let me make that perfectly clear, mean that the claim will be paid.

 

[supernatural400]

I paid $600.00 for a aftermarket warranty that I found on the internet, When my tranny let go in my LT4 a year after I bought the car, between the tranny,clutch (which I had to pay for myself, considered wearable part) and flywheel they paid close to $10,000.00 to get the car fixed. No hassles with them they paid the bill over the phone with a credit card. Best money I ever spent

 

[Vettelt193]

I paid $600.00 for a aftermarket warranty that I found on the internet, When my tranny let go in my LT4 a year after I bought the car, between the tranny,clutch (which I had to pay for myself, considered wearable part) and flywheel they paid close to $10,000.00 to get the car fixed. No hassles with them they paid the bill over the phone with a credit card. Best money I ever spent

can you point me out in the right direction to pick up one of those warrantees? that sounds like a good deal to me!


Froggy47: there is no way a clutch can cost $7,000! that sounds like he got a clutch and a new tranny. Check out what is covered anyway, clutch, brakes, tires etc. usually aren't covered.

 

[Vettart]

Warranty

I found my LT-4 at the local CARMAX. I got three year extended warranty on engine and drive train for $1250. I'm glad I did, they have replaced the water pump and opti spark already.:eyerole

 

[lt46spd]

See my post. I shopped alot and 1Source gave me the best deal and a payment plan. Ken

 

[3 Deuce]

I had 1 Source and it was one of the worst experiences I've had with any company. They fought the repairs which were minimal and it took 14 months and arbitration through the Better Business Bureau to get a refund minus $100.00.

A warning on a website for Warranties said to wait 6 weeks before claiming anything...my repair came in at just over 5 weeks and the attitude was 180 degrees from when they so happily took my money. I paid for $1400.00 in repairs and was asking for $200-$300 for covered items. It was like I was taking food out of their babies mouths.

Never again.

 

[lt46spd]

Wow! What a bad experience. I just bought the warranty so I've had no experience with them. My recommendation was based on their competitive pricing. I hope I don't have the same problem and I cannot personally speak as to their quality of service. Ken

 

[lt4 gs]

I was serious.......from my post up there

........also, let me add here that I used to be a regional sales manager for one of these warr. co's. from Newport Beach, (CA).........and we ..........trained reps and agents how to deny paying claims. ..................Just because they say it's covered, does not and let me make that perfectly clear, mean that the claim will be paid.