Anyone Purchased Extended Warranty Plan ?

[aboss3]

Hi Everyone! I got a '22 Yukon Denali XL, and thinking about purchasing an extended warranty plan to ensure my drivetrain is covered. Has anyone been purchasing the extended plans for their Tahoes/Yukons, or do y'll ride it out and fix things as you go? I currently have 19k miles on the vehicle, purchased in March of this year. We take it on long road trips with the kids, and this is our primary kid hauler around town. We do expect to keep the car for 9-10 years (hopefully!) as we really like the room inside. My downside is - I was quoted $3,200 for 6 years and 90k miles. 6 years start ticking from my purchase date, so I essentially get 3 extra years or 90k miles total whichever comes first. I always drove Japanese SUVs, and never really kept them past 5 years. So wondering if warranty is a good investment here, or are these trucks pretty reliable? My brother just crossed 200,000 mile in his '09 Tundra and never had any major issues. But seeing how much electronics these new trucks have, and how many folks complain of the lifter and transmission issues, I'm a bit nervous losing my manufacturer warranty a year from now (high miles).

 

[WalleyeMikeIII]

It’s all about the list of excluded items and the cost. I’ve never been a big “extended warranty” (it is not a warranty, it’s a service contract) guy. They are financial products, basically insurance. The net is, they are sold by for profit businesses and those businesses make profit on them. I believe the smarter move is put whatever the cost of the contract is in a fairly secure investment and use that money to fund the repairs.

As for your specific question; the powertrain warranty from the factory is 5yrs/60k miles. So if your quote for is 90k mileage coverage, at least on the powertrain you are only buying an extra 30k miles.

Like I said above; don’t listen to the salesman; ask for the contract and read the “what is covered” and “exclusions” sections carefully and understand what is and isn’t covered…

 

[jforb]

Hell no.

 

[aboss3]

My scare is the lifters, which cost just under $6k to fix - hence paying for the warranty all together plus more.

 

[Doubeleive]

unless you are buying some really shady warranty that should be starting at your current mileage of 19k so you would be covered for up to 79k (actual mileage on vehicle) + 6 years
and there is usually a disclaimer that the powertrain part is not in effect while under factory warranty so it wouldn't even kick in until you reach 60k
depending on the warranty it would cover other things that expire after the factory bumper to bumper expires which is usually 45k?
the price seems a little high my last one was $2200 for 6yr 60k that covers pretty much everything except wear items, be sure to read the details of the warranty language and understand how it works, too many people buy them and then expect things that are not covered to be covered then ***** to high hell
there is usually 3 tiers, never take the 1st tier it's useless

 

[yukontruckman]

Get a quote from Ally. It's charged monthly and pay as you go. They cover some items like airbags and electronics that many third party warranties exclude.

Find a Vehicle Protection Product to Fit Your Needs | Ally

Explore our range of vehicle protection product offerings including coverage for major components, vehicle maintenance, GAP coverage, lease protection and more.

www.ally.com

 

[topaq]

I got one and when two of my expensive shocks started to leak it covered all but a small deductible. Mine covers up to 100K miles. Because I frequently put that much on in just a few years.

 

[Dlayne]

As mentioned before read the exclusions. As basically an insurance product, it all depends on if you are more comfortable shifting major repair risk or self funding in the chance something goes wrong. We all pay homeowners ins. But, very few have claims.

 

[tom3]

I compared a several different plans. I went with the GMEPP for our 19. Priced reasonable from Laurel Chevrolet out in Montana. They seem to have a person to specialize in this.

 

[Blueinterceptor]

I just bought ( yesterday) a two year gm platinum plan. 30,000 miles. Bumper to bumper. 0 deductible. For 1900$
I’ll get a refund on it (prorated) when I turn the 21 Tahoe in