Extended Warranty?
- Thread starter Natesriv
- Start date
Yosemite Sam
I Hates Rabbits!
I did because I drive 30k+ a year.
Maddog2020
Active member
They always push those, and I always turn them down. You will most likely get more offers once the warranty is close to being finished.
PoormanSonic
New member
I extended mine to 72 months/100,000 bumper to bumper. It was around $1500 extra and was through GM.
EVOX_SPEED3
Member
I just purchased mine cuz my car is at 35k miles. It was through GM for 4 year/60k miles for 1000$.
Bogus
Senior Member
Where did you do this at? Online, at the dealer..?
I got the 5yr/60k comprehensive warranty through Hendrick's Automotive. It was a bit over 1k through the Dealer when I purchased the car. I'm seriously considering cancelling the warranty and going with an extended warranty once the original one comes close to the end since it's only really two years and 24k being covered.
Natesriv
Lead Foot
I did say yes during the "paperwork" stage, but then said no... I'd heard and read it's not necessary to purchase one, but the price to the monthly bill was small...
But my gut said "no"...so I stuck to my guns.
Why?
It's not GM...it's Hendricks (and nothing against them, they have been wonderful to me), but if I move to another state, all warranty repairs must be authorized by them... NOT saying they have a bad record or anything...just they're NOT GM...
JCHAG
Calling BS since 1999
I got the GM Protection Plan thru the dealer. $1300 or so for 5yr/100k miles warranty with zero deductible. I was going to finance the warranty into the deal, but they offered me 0% financing for 18 months with 10% down, so I did that instead of financing the the warranty into my car loan at 2.99% over 60 months thru the finance company.
GMPP has a fair cancellation policy so I shopped around after the fact, and discovered that both Mercury and Zurich warranties were actually more expensive (I said turbo and they saw $ signs) and both had a $100 deductible per claim. Shocking yes, the least expensive extended warranty with the best coverage from the company that I'm least likely to have a problem with is the one the dealership finance guy sold me. Who knew?
GMPP has a fair cancellation policy so I shopped around after the fact, and discovered that both Mercury and Zurich warranties were actually more expensive (I said turbo and they saw $ signs) and both had a $100 deductible per claim. Shocking yes, the least expensive extended warranty with the best coverage from the company that I'm least likely to have a problem with is the one the dealership finance guy sold me. Who knew?
rodslinger
Member
This is my thoughts on extended warranties.
http://www.sonicownersforum.com/forum/post61880-50/
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I make it a habit of not buying extended warranties on ANYTHING. But this doesn't work for everyone. I have an extra car and reserves to cover failures. Some do not and I can't fault some for possibly needing it. I only encourage them not to. You will rarely need it or the loopholes in coverage will probably not cover what failed anyway.
Warranty administrators to me are a lot like odds makers or game operators in Vegas. They know the odds and they know they are going to pay out very little in relation to what they earn off you. Cars today are pretty reliable. If it is gonna break it will probably do it very soon in life while under factory warranty or last way beyond any aftermarket warranty you purchase.
With that thought I'd like to add that I'm about $28k financially ahead by not choosing extended warranties on anything. Cars, appliances, houses, electronics, etc.... In the past 24 years I think I've replaced a single transmission on a car that had 187k miles at the time of failure. That wouldn't have been covered by an extended warranty anyway. I honestly can't recall any problem I've had on a car in the past 25 years that would have been covered by any extended warranty or failed within the time/mileage limits of a warranty had I chose it.
Take that money and invest it in something else. Take that $20 a month and put it into savings that can be used to fix things in the future or buy youself new bedroom furniture later in life.
Again, this doesn't work for everyone but you'll probably come out ahead in the long run.
http://www.sonicownersforum.com/forum/post61880-50/
--------------------------------------------------------------------------------
I make it a habit of not buying extended warranties on ANYTHING. But this doesn't work for everyone. I have an extra car and reserves to cover failures. Some do not and I can't fault some for possibly needing it. I only encourage them not to. You will rarely need it or the loopholes in coverage will probably not cover what failed anyway.
Warranty administrators to me are a lot like odds makers or game operators in Vegas. They know the odds and they know they are going to pay out very little in relation to what they earn off you. Cars today are pretty reliable. If it is gonna break it will probably do it very soon in life while under factory warranty or last way beyond any aftermarket warranty you purchase.
With that thought I'd like to add that I'm about $28k financially ahead by not choosing extended warranties on anything. Cars, appliances, houses, electronics, etc.... In the past 24 years I think I've replaced a single transmission on a car that had 187k miles at the time of failure. That wouldn't have been covered by an extended warranty anyway. I honestly can't recall any problem I've had on a car in the past 25 years that would have been covered by any extended warranty or failed within the time/mileage limits of a warranty had I chose it.
Take that money and invest it in something else. Take that $20 a month and put it into savings that can be used to fix things in the future or buy youself new bedroom furniture later in life.
Again, this doesn't work for everyone but you'll probably come out ahead in the long run.
JCHAG
Calling BS since 1999
I agree with rodslinger, it's unlikely that my car will need $1300 worth of work that isn't already covered under the GM 100k mile powertrain warranty that comes with the Sonic.
That being said, I can't predict the future, and have no guarantee that my financial situation will be as stable for the next 5 years as it is today. Even if the cost of a covered repair is small, the cost of a rental car can quickly exceed the cost of the repair itself. I don't have an extra car just sitting around, so this warranty gives me peace of mind knowing that not only will my car be repaired, but I don't have to worry about being without a car while it's in the shop.
I justify it to myself by looking at what I spend in a year on full coverage for my car. It's around $1300. For the cost of 1 year's car insurance, I have 5 years of repair and rental car coverage (loopholes excluded), which is cheap peace of mind in my opinion.
If you have a cushion in the bank and substitute transportation readily available, you likely are wasting your money on an extended warranty. If you're like me an budget yourself to within an inch of your life, it's worth having that peace of mind.
That being said, I can't predict the future, and have no guarantee that my financial situation will be as stable for the next 5 years as it is today. Even if the cost of a covered repair is small, the cost of a rental car can quickly exceed the cost of the repair itself. I don't have an extra car just sitting around, so this warranty gives me peace of mind knowing that not only will my car be repaired, but I don't have to worry about being without a car while it's in the shop.
I justify it to myself by looking at what I spend in a year on full coverage for my car. It's around $1300. For the cost of 1 year's car insurance, I have 5 years of repair and rental car coverage (loopholes excluded), which is cheap peace of mind in my opinion.
If you have a cushion in the bank and substitute transportation readily available, you likely are wasting your money on an extended warranty. If you're like me an budget yourself to within an inch of your life, it's worth having that peace of mind.
Chevrolet Customer Care
New member
Bogus,
Check out this link General Motors Protection Plan - Coverage Choices for more information to assist you in deciding on GM Protection Plans and to see the many options that are available for additional coverage and service contracts. Here you can calculate which plan best suits your individual needs.
Vanessa
GM Customer Service
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