Are extended warranties worth buying?

[911jason]

For whatever warranty you're considering purchasing, make sure that you understand exactly what is and is not covered under the warranty. This may seem obvious, but many people presume that a warranty covers everything, only to discover when they have occasion to seek a repair that their particular issue is not covered and they must pay for repair of that issue.

Absolutely good advice! I spent more money on my 2007 Expedition that I had a 7yr/100,000 mile warranty on then any car I've owned. It really soured me on Ford.

My pessimist side says to get it. Seeing how these new trucks are coming straight off the lot with various defects and failures and dealerships are able to exclude them from the factory warranty because they're able to deem it "normal" or "within tolerances" or whatever. At least with a supplemental warranty, you'll have an extra leg up in your defense, assuming you can prove the issue falls under the coverage.

I think vehicles are probably better than they've ever been, but like a lot of things, the internet has just made us much more aware of the things that do happen.

 

[tweak48]

I've had GMMPPs on my Caddy, my Tahoe, and my 'vette. The warranty easily paid for itself on the Tahoe (4wd system) and barely on the Caddy (electronics). I never turned in a single claim on the Corvette.

 

[thebishman]

These are highly negotiable in price!

 

[SSpinball]

depends on how long you plan to keep vehicle and mileage you drive.
I keep vehicles a long time, i exteneded the warrantty to 100k Miles for about $1,000.

 

[tweak48]

depends on how long you plan to keep vehicle and mileage you drive.
I keep vehicles a long time, i exteneded the warrantty to 100k Miles for about $1,000.

Where did you buy yours and what kind was it? GM Master Protection Plan?

 

[911jason]

I'm planning to purchase one after I get my tax return in February. Is there a dealer that sells them cheaper than others? Can I purchase a maintenance plan in the second year of ownership, as well?

 

[tweak48]

I'm planning to purchase one after I get my tax return in February. Is there a dealer that sells them cheaper than others? Can I purchase a maintenance plan in the second year of ownership, as well?

I believe you can buy one as long as the original factory warranty is in effect. Previously I bought them on-line from a GM dealer in Pennsylvania (see my post up the line).

 

[mtocrs1]

They wouldn't sell an extended warranty if they were going to lose money on the deal. Chances are they won't pay out as much as you spent on the policy. Its like gambling in Vegas. The lights dont stay on because everyone is a winner....


Sent from my iPhone using Tapatalk

 

[kwOH]

If its one of the ones that come in the mail, NO. But if its from the dealership, go for it!

 

[Miami-Dade]

At the time of purchase I was offered a 6 year 125K mile bumper to bumper warranty for 1500 bucks from my Chevrolet-GMC-Buick dealer for my 2016 Hoe with the luxury package..I took it.