2015 Tahoe extended warranty debate, questions

[Walkthesky]

Hello,

Just bought a 2015 Tahoe with less than 20k miles. Long day at the end and I decided to buy expensive extended warranty. First off truck comes with 3 yrs power train and 12 months bumper to bumper so I'm overlapping already. The new plan is 6 years / 60k miles from original and cost $3995. After doing lots of research I'm seeing I should cancel the warranty. Is there any negotiating costs here at this point or just cancel? Also cost me $500 to certify the truck.

Would really appreciate your input and help,
Thanks a lot,
Matt

 

[Walkthesky]

Also, can I negotiate the price at this point or just cancel. Seems I way overpaid for this thing...

 

[cardude2000]

That's an expensive plan. I believe they are more like $1500. You have a full year to buy a GM plan after purchase. I'd call and try to cancel but I'm not sure what protection you have legally. Check your state laws regarding extended warranties. Additionally you MAY have an option (either legally or via dealer policy) to return or exchange the truck within a certain time period (3 days usually). You could always 'threaten' to exercise that if they won't cancel. Good luck and if you're stuck with that warranty, I hope you end up using it!!!


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[Tonka Boater]

You have the right to cancel your extended warranty and you should get a full refund if you do it right away. They might prorate the refund the longer you wait, but not likely. You should still get full credit if you don't have any claims.

If you rolled the warranty into your financing, the refund will go to your lender and will reduce the loan amount by the amount of the refund.

 

[Walkthesky]

Thanks for replies guys. Of course the dealer hasn't returned any of my call all weekend. Only response is from my saleswoman and she emailed me back that I can cancel thru warranty company? Would that kick back the refund to my loan? Would that not generate new paper work to sign? Also I believe they made an error in my favor in that the paperwork I have says the warranty ends 6 years and 60k miles from today and added to current mileage. Even if that error sticks that's still expensive for 6yrs and 60k miles?
Thanks

 

[cardude2000]

Dude.

Call around to get pricing on GM plans. If yours is materially more than those, cancel your current plan.

End of story IMO.


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[Walkthesky]

One other thing. They charged me $499 to certify the truck. Is that typical? I assume I cancel warranty I get that back, no?
Thanks

 

[bzpilot]

One other thing. They charged me $499 to certify the truck. Is that typical? I assume I cancel warranty I get that back, no?
Thanks

Well, if you paid $500 to make the vehicle "GM Certified Pre-Owned" it is a warranty in itself (http://www.gmcertified.com/certified-benefits/used-car-warranty). You would get 12-Month/12,000 Mile Bumper-to-Bumper and 6-Year/100,000 Mile Powertrain Warranty (including Roadside Assistance & Courtesy Transportation) by certifying your vehicle.

So, from what you said in your original post either they lied to you that it was only a 3-Year Powertrain to begin with or you misunderstood them. Either way you should get it straightened out in person.

I personally would keep the "GM Certified Pre-Owned" Warranty (which is also transferable if the vehicle is sold) and completely get rid of your extended warranty ASAP.

 

[WillCO]

I just ran a quote on USAA. Here are the USAA prices for warranty on a 2015 Tahoe LT:

• 60 months from purchase date or 75K: $1341
• 72 months/75K: $1717
• 60 months/100K: $1942
• 72 months/100K: $2566

The $1942 option compares to the $3995 you paid. The USAA prices are very good, but if you can't get USAA ask around and search through forums. You can normally approach those through a volume dealer.

It does appear that you overpaid. Those finance guys are evil, aren't they.

____

I bought my Tahoe last week and the finance manager was relentless. I had prequalified with USAA and had a dealer check request form in my hand, and she debated APR with me for 20 minutes before her best offer was to match the USAA rate. She began with $3700 for the 72/100 warranty, and when I quoted the $2566 equivalent USAA rate she dropped her quote to $2700. Either she was stupid or she thought I was.

 

[PwrdbyM]

I just paid $1750 for the actual GM warranty (GMEPP) for Platinum 84mths/100k miles so yours is way overpriced. I concur that you should cancel it right away.