Just Bought Some Piece of Mind!!!

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BowTieBandit

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I bought a warranty for my Denali. Seemed like a good idea, I bought one for both vettes I've had. And used them on both cars. I got it through my work, I work at a car dealership. It's a New Car Coverage Warranty, for 5 years from now or a total of 75k miles. It has 45k now, and since I have 3 cars I won't rack miles up that fast. That's why I chose that plan, being the longest w/ miles that will match my driving style. On my 02 Z06 w/ 12k miles, $3k of parts went bad, but my warranty paid for it all! Any of you guys have warranties?
 

Getwired

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Extended warranty not a BAD idea, BUT...

I usually don't purchase extended warranties on small purchases, and my new truck was no small purchase. HOWEVER, based on my previous excellent experience with my 2004 Denali, I made a leap of faith and opted to save some $$$$ and NOT get the warranty on the new truck. Lately, I have not been keeping vehicles for more than 3-4 years, so it's not a big deal with me (I'm also a low mileage driver, so the factory warranty is good enough). :thumbsup:

I DID purchase the GM extended warranty on my 2004, and didn't realize that the warranty had a pro-rated cash value at trade in time if you have a warranty "balance". When I wrote my big check for my 2007, I didn't know this at negotiation time, and fortunately I held out long enough on my trade-in, and with the $1200 I got for the balance of the warranty, ultimately got what I wanted for the 2004 Denali. I wish I would have done my homework back in 2003 when I bought that thing though! :rolleyes:

Extended warranties are usually rip offs, but in my case, it was un-needed, and I got alot of my original cash out-lay back. I felt like I needed it in 2003 since that purchase was my "return to GM" after a very bad experience in the early '90's.

Anyway, if you buy the extended warranty, just make sure you don't waste your $$$ on the retarded "gap insurance" they will try to sell you. Now THAT is a waste. :ack: :crazy: :ack:

Sorry for the long-winded response!
 

BowTieBandit

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I usually don't purchase extended warranties on small purchases, and my new truck was no small purchase. HOWEVER, based on my previous excellent experience with my 2004 Denali, I made a leap of faith and opted to save some $$$$ and NOT get the warranty on the new truck. Lately, I have not been keeping vehicles for more than 3-4 years, so it's not a big deal with me (I'm also a low mileage driver, so the factory warranty is good enough). :thumbsup:

I DID purchase the GM extended warranty on my 2004, and didn't realize that the warranty had a pro-rated cash value at trade in time if you have a warranty "balance". When I wrote my big check for my 2007, I didn't know this at negotiation time, and fortunately I held out long enough on my trade-in, and with the $1200 I got for the balance of the warranty, ultimately got what I wanted for the 2004 Denali. I wish I would have done my homework back in 2003 when I bought that thing though! :rolleyes:

Extended warranties are usually rip offs, but in my case, it was un-needed, and I got alot of my original cash out-lay back. I felt like I needed it in 2003 since that purchase was my "return to GM" after a very bad experience in the early '90's.

Anyway, if you buy the extended warranty, just make sure you don't waste your $$$ on the retarded "gap insurance" they will try to sell you. Now THAT is a waste. :ack: :crazy: :ack:

Sorry for the long-winded response!

I know what you mean. If I was buying a New or Certified Used car I wouldn't worry about extended covreage. But since mine is out of warranty, and just a little south of 50k miles, I opted for a warranty. I'm a Finance Manager for a dealership, been in the car business for almost 8 years. I've seen a lot of things over the years, that's why I usually opt for a warranty on a domestic or european car. And for the price I get it's hard to pass up. I got my 5yr/75k Superior Coverage Warranty for $1212. It would've been $150 cheaper if it wasn't a AWD. It covers everything minus wear & tear, maintenance, usual stuff. Cause I've got a feeling i'll end up spending $1200 or more within 5 years on repairs anyways.

And your right about GAP, except in the event you're financing negative equity from a trade in, or have no down payment on a high APR loan. Other wise most people wouldn't need it. And what most people don't know that some car insurance companies are now offering GAP for a fraction of the cost dealers charge.
 

Getwired

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I know what you mean. If I was buying a New or Certified Used car I wouldn't worry about extended covreage. But since mine is out of warranty, and just a little south of 50k miles, I opted for a warranty. I'm a Finance Manager for a dealership, been in the car business for almost 8 years. I've seen a lot of things over the years, that's why I usually opt for a warranty on a domestic or european car. And for the price I get it's hard to pass up. I got my 5yr/75k Superior Coverage Warranty for $1212. It would've been $150 cheaper if it wasn't a AWD. It covers everything minus wear & tear, maintenance, usual stuff. Cause I've got a feeling i'll end up spending $1200 or more within 5 years on repairs anyways.

And your right about GAP, except in the event you're financing negative equity from a trade in, or have no down payment on a high APR loan. Other wise most people wouldn't need it. And what most people don't know that some car insurance companies are now offering GAP for a fraction of the cost dealers charge.

I believe you made a wise decision on the extended warranty in your case! Seems like a very good idea on a Certified Used vehicle.

I guess I would only further clarify by saying that I don't think it makes any sense on a brand new vehicle that you probably won't keep past the factory warranty period, unless you want it to add it to the re-sale price later via private party (and there's no guarantee that'll do you any good either).

The whole dealership experience is interesting to me... My personal favorite part before dealing with the F&I guy is telling the pretty lady with all the aftermarket crap that I'm not interested in their wax program or anything else...(hey baby, I'm married!) :smilielol:
 

BowTieBandit

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I believe you made a wise decision on the extended warranty in your case! Seems like a very good idea on a Certified Used vehicle.

I guess I would only further clarify by saying that I don't think it makes any sense on a brand new vehicle that you probably won't keep past the factory warranty period, unless you want it to add it to the re-sale price later via private party (and there's no guarantee that'll do you any good either).

The whole dealership experience is interesting to me... My personal favorite part before dealing with the F&I guy is telling the pretty lady with all the aftermarket crap that I'm not interested in their wax program or anything else...(hey baby, I'm married!) :smilielol:

Definately, for a brand new car, unless you drive a lot of miles and your regular warranty would run out abnormally soon or you're planning on keeping it after the factory warranty expires then it'd be better to buy one before the original one ends or not at all.

Ya I would prefer not to sell the paint/fabric sealants. It's not a very popular item where i'm at. I work at a Scion Dealership, so it's mostly accesories like 18" wheels, lowering kits, spoilers, and stuff like that. But sealants are a joke, there's a average of a 700% mark up over cost. :crazy:
 
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BowTieBandit

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We have a 6 year extended warranty on our Tahoe.

Is it a GMPP or other company. I would prefer a GMPP, like the one I have on my vette. But other 3rd party companies are good too. Just have to be careful they're not one of those online companies that go out of business. That would suck!
 

Getwired

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...But sealants are a joke, there's a average of a 700% mark up over cost. :crazy:

No WONDER those folks are pushing them so hard at the dealerships! I would too if I could get like 700% markup. :smilielol::D:smilielol:
 

Whipple1

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Is it a GMPP or other company. I would prefer a GMPP, like the one I have on my vette. But other 3rd party companies are good too. Just have to be careful they're not one of those online companies that go out of business. That would suck!

I have the GMPP and its about to run out,was wondering if I can extend it again,02 Denali 46k.I didnt need until a month ago, upper control arms,front wheel hubs and speed sensors,tail shaft and seal,fuel pump,and my steering pitman arm is on its way out.Good thing for the warranty and its 0 deductable!:D
 

BowTieBandit

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I have the GMPP and its about to run out,was wondering if I can extend it again,02 Denali 46k.I didnt need until a month ago, upper control arms,front wheel hubs and speed sensors,tail shaft and seal,fuel pump,and my steering pitman arm is on its way out.Good thing for the warranty and its 0 deductable!:D

Ya I bet it paid for itself on that last repair. I have a GMPP on my vette, that paid for itself 3 times over 3 weeks after I bought it. :crazy:

You could get a warranty for it, the coverage wouldn't be as good as the GMPP though. They have pretty damn good coverage. Problem is, to buy one from a dealership they'd have to inspect you car. Not sure how your s/c would come into play. You could probably get one from one of those online companies. Most don't have good feedback, atleast that's what i've heard.
 

Whipple1

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Ya I bet it paid for itself on that last repair. I have a GMPP on my vette, that paid for itself 3 times over 3 weeks after I bought it. :crazy:

You could get a warranty for it, the coverage wouldn't be as good as the GMPP though. They have pretty damn good coverage. Problem is, to buy one from a dealership they'd have to inspect you car. Not sure how your s/c would come into play. You could probably get one from one of those online companies. Most don't have good feedback, atleast that's what i've heard.

The last time I got GMPP I had all this stuff on S/C, rims ,exhaust and no inspection:shhh: .I have a couple of friends in the service dept.Well anyway I will see how it goes ,I will ask them this week,Thanks for the reply.
 

BowTieBandit

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The last time I got GMPP I had all this stuff on S/C, rims ,exhaust and no inspection:shhh: .I have a couple of friends in the service dept.Well anyway I will see how it goes ,I will ask them this week,Thanks for the reply.

Yup, it's all about who you know. :thumbsup:
 

lugnut1

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First of all, hello, and thanks for some great information. Question, though- I have the extended 70,000- 7 year warranty on my 03, and with 67,000 miles on it, I know I have to get more coverage or sell it. I have used that original extended waaaay more than I should have had to. Can I get more extended warranty from GM? not wild about the 3rd party guys. Thanks for any help.
 

bahollis

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Aftermarket Warranties..

keep in mind that some of these "Aftermarket Warranties" you can buy don't cover genuine GM parts, and will only cover labor costs up to a certain amount.

That means you probably won't want to take your HOE to a dealer for work.
That sucks, because it stands to reason that a mechanic that works on a certain type of car would be the one you want diagnosing and fixing your ride.

Last summer my wife's AC went out on her Grand Prix, and we took it to a Pontiac dealer we've used prior. We had an aftermarket warranty in her car when the 5 year ran out, and we got the standard run-around. They would only cover up to $45 an hour for labor (which is retarded), and they would not pay for GM parts. Pontiac would not put in anything BUT GM parts. I guess they make their money that way too. The Warranty company claimed they could get the replacement parts for way less than the dealer charged (but they would not tell us where). In the end my warranty saved me $240 on a $900 bill. 18 months ago we had her tranny rebuilt by a transmission place across the street from us, and they would only pay the $45 an hour for labor, and only covered necessary parts to get it running. Nevermind that there were parts that were pretty much about to go out. Lucky for us the mechanic there was cool, and hates dealing with them. He told them that some of the parts that were marginal needed to be replaced (and he just so happened to have parts lying around in case they wanted to see them)
We ended up paying $300 for a $950 rebuild.

These are just some of the big things we had to turn in. I bought the "powertrain" warranty, which did not cover anything but the metals parts attached directly to the engine or the transmission it seemed (and even then it seemed like that commercial where the guy has "BRAD" scratched into the side of his car.

Better than nothing I guess, but all-in-all I paid more for the warranty than three years worth of repairs. I'll just hang on to the money I got for selling my truck to get my HOE and use it for a rainy day.

It might be worth it to research a GM aftermarket warranty to see if they'll use GM parts on your HOE. I'd bet they would at least cover their own dealership's labor costs. Might be more $$$ up front, but you decide how much you think you might need it based on how you drive.

Good luck to you all

BH

2004 Tahoe LT 4x4
Mods to come!!
 
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