Extended Warranty

[DuraYuk]

So, let me get this straight....just gonna simplify the math for comparison sake.

You have a new vehicle that starts out with a 3 year 36k warranty from the dealer/manufacturer. You buy an "instead of warranty" for double the coverage of 6 year and 72k warranty for let's say $4k. IMO and in my scenario, you are paying $4k for the last 3years and 36k miles. If you wait till the first 3 year and 36k miles is up and then buy, the only way it costs more for the warranty after the first 3 years and 36k miles is if that warranty would cost $4001 or more. If you buy the warranty after the first 3 years and 36k miles is gone and pay $3999 or less, you have saved money.

If I am missing something, please straighten me out and I promise you, I will apologize for the confusion.

Bumper to bumper is 3 years 36k.

You can only add extended GM warranty with bumper to bumper left.

If you buy it in beggining it's cheaper. But you can wait till the last mile or day of your bumper to bumper to purchase it will just cost more.

That's it. No other real advantage unless somehow the extended covers something the factory didn't.

Site Maintenance

 

[Chad G 1979]

Its more like i have not had major problems. Just oil changes, brakes, tires, batteries, shocks on just 1 vehicle. All vehicles in last 25 year have all been from new and then traded in 10 years later. Well taken care of. I get having the peace of mind also of having it, but to buy one and to never use it doesn't make sense either.

 

[OR VietVet]

I am not talking about trying to buy a 6 year and 72K mile warranty at the end of 3 year and 36k manufacture warranty. I am talking about buying the difference, which would be buying the 3 year 36k miles extended warranty. No way that 3/36 would be more than the original "instead of warranty" of 6 year and 72k miles.

If you read my threads about this, you know I always say to start a savings account with any new to you vehicle you buy. Leave it alone and use only for the maintenance needs and repair needs of that vehicle. Typically, at the end of the same period that would be the end of the "instead of warranty", you are money ahead. Not always but MOST times. Insurance companies play the %'s and that is why they sell the instead of warranties. If you like 'em, buy the damn things. I never ever will and know I am way ahead.

I am different, in that I can do my own diagnostics and repairs and maintenance. If you can't, then you may want the instead of warranty. Two things that bother me the most: 1. Buying the overlap insurance on top of the warranty already there, crazy IMO. 2. I ran shops and called in on these warranties and know what crooks these companies are.

So, again. If you want them buy them. But if you ask my opinion, it will always be that the warranties are not worth it and they also always plan on you rolling the warranty cost in with your payments and then you pay even more for the warranty plan.

We are living thru an economy right now that was created the same way. "Kick the can down the road".

 

[DuraYuk]

Its more like i have not had major problems. Just oil changes, brakes, tires, batteries, shocks on just 1 vehicle. All vehicles in last 25 year have all been from new and then traded in 10 years later. Well taken care of. I get having the peace of mind also of having it, but to buy one and to never use it doesn't make sense either.

Even shocks are covered under GMPP

 

[DuraYuk]

I am not talking about trying to buy a 6 year and 72K mile warranty at the end of 3 year and 36k manufacture warranty. I am talking about buying the difference, which would be buying the 3 year 36k miles extended warranty. No way that 3/36 would be more than the original "instead of warranty" of 6 year and 72k miles.

If you read my threads about this, you know I always say to start a savings account with any new to you vehicle you buy. Leave it alone and use only for the maintenance needs and repair needs of that vehicle. Typically, at the end of the same period that would be the end of the "instead of warranty", you are money ahead. Not always but MOST times. Insurance companies play the %'s and that is why they sell the instead of warranties. If you like 'em, buy the damn things. I never ever will and know I am way ahead.

I am different, in that I can do my own diagnostics and repairs and maintenance. If you can't, then you may want the instead of warranty. Two things that bother me the most: 1. Buying the overlap insurance on top of the warranty already there, crazy IMO. 2. I ran shops and called in on these warranties and know what crooks these companies are.

So, again. If you want them buy them. But if you ask my opinion, it will always be that the warranties are not worth it and they also always plan on you rolling the warranty cost in with your payments and then you pay even more for the warranty plan.

We are living thru an economy right now that was created the same way. "Kick the can down the road".

Your not different. I used to be a GM tech and still fix my own things but GMPP is worth it. Even consumables like shocks are covered. But you and a handful of other people keep trying to justify saving the 3k and gaining interest on it to people who paid 75k+ for vehicles who see the actual cash value in the warranty.


The warranty isn't 'instead of' like your implying. They need you to have some speck of bumper to bumper left so that your not just buying it to make a claim. Make sense?

Your points are largely outdated and misinformed when it comes to GMPP. Repeating the same thing over and over again doesn't change the facts . look at the links I posted under terms and conditions for platinum. It's really damn good.

With that said aftermarket warranties may not be worth it but platinum GMPP at a good price is which can be had for 96 months 100k miles 0 deductible for roughly 3000$.

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[todayusay]

Its more like i have not had major problems. Just oil changes, brakes, tires, batteries, shocks on just 1 vehicle. All vehicles in last 25 year have all been from new and then traded in 10 years later. Well taken care of. I get having the peace of mind also of having it, but to buy one and to never use it doesn't make sense either.

think the unknown factor that is unique to your situation is how many miles you generally put on a vehicle in a year....5k - 15k - 40k?

 

[OR VietVet]

Your not different. I used to be a GM tech and still fix my own things but GMPP is worth it. Even consumables like shocks are covered. But you and a handful of other people keep trying to justify saving the 3k and gaining interest on it to people who paid 75k+ for vehicles who see the actual cash value in the warranty.


The warranty isn't 'instead of' like your implying. They need you to have some speck of bumper to bumper left so that your not just buying it to make a claim. Make sense?

Your points are largely outdated and misinformed when it comes to GMPP. Repeating the same thing over and over again doesn't change the facts . look at the links I posted under terms and conditions for platinum. It's really damn good.

With that said aftermarket warranties may not be worth it but platinum GMPP at a good price is which can be had for 96 months 100k miles 0 deductible for roughly 3000$.

Site Maintenance

How can you say it is not an "instead of warranty". IMO, the answer is obvious and you say it yourself. You said, "you need a speck of bumper to bumper left". You have an "instead of warranty" laid right on top of the warranty from the factory that is already there.

There is no way in hell you can say anything to convince me that the instead of warranty period is not wasted money when you already have a bumper to bumper warranty.

I am done trying to get that point across. You can play with numbers and meanings and covering your ass and definitions and justifications for over spending, but I will never be convinced. My points of saving money is never outdated and the fact that the %'s are always in the favor of the insurance companies is just a proven fact.

Insurance companies should never be able to tell you to buy the plan now instead of when you actually need it. That in and of itself proves they are crooks. If they want to charge more for you wanting to do that, then they just prove at that point exactly how big a set of crooks they are.

When a new car dealer is willing to back out the price of all the coverages they give with a new vehicle purchase and then sell me an "Extended Warranty" instead of an "Instead of Warranty", I will listen, but no way will I allow them to double dip and piss down my leg while they do it.

 

[DuraYuk]

How can you say it is not an "instead of warranty". IMO, the answer is obvious and you say it yourself. You said, "you need a speck of bumper to bumper left". You have an "instead of warranty" laid right on top of the warranty from the factory that is already there.

There is no way in hell you can say anything to convince me that the instead of warranty period is not wasted money when you already have a bumper to bumper warranty.

I am done trying to get that point across. You can play with numbers and meanings and covering your ass and definitions and justifications for over spending, but I will never be convinced. My points of saving money is never outdated and the fact that the %'s are always in the favor of the insurance companies is just a proven fact.

Insurance companies should never be able to tell you to buy the plan now instead of when you actually need it. That in and of itself proves they are crooks. If they want to charge more for you wanting to do that, then they just prove at that point exactly how big a set of crooks they are.

When a new car dealer is willing to back out the price of all the coverages they give with a new vehicle purchase and then sell me an "Extended Warranty" instead of an "Instead of Warranty", I will listen, but no way will I allow them to double dip and piss down my leg while they do it.

What vehicle do you drive ? Year make and model ? I don't expect to change your mind on something you have misunderstood

 

[Chad G 1979]

think the unknown factor that is unique to your situation is how many miles you generally put on a vehicle in a year....5k - 15k - 40k?

Its around 7k a year. So even wife only outs 15k a year. Even 10 years its usually under 100k when traded in.

 

[OR VietVet]

I don't expect to answer questions like this when I supply all that info in each and every single post I make. That is so there is no "misunderstanding".

I am done now with this thread subject.