This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

Extended Warranty Worth It?

C

C82NV

Casual User
You're Celebrated
Jul 31, 2023
81
38
VetteCoins
1,467
Was wondering whats the benefit of the extended warranty compared to the standard 3 year 60km comprehensive and 5 year 100km power train? I see members on here paying the discounted $2,000-3,000 for a 5 year 60km total plus, but whats the point when the power train is already 5 year/100km? Brakes, suspension, front end components are always considered wear and tear and not covered even under comprehensive. Seems like major concern on these vehicles are the transmission, which is covered under the power train warranty.
 
Reactions: 1ADAM12
Well, maybe you do not know that one of the many computers in the car (the C7 had something like 23 of them, not sure how many the C8 has) can cost thousands of $. That is for 1 repair visit. So is it worth it? You tell me.

For me, it was the lowest mileage 8-year plan. Why? Because of MATH.

Likelyhood of problem x number of anticipated non-driveline problems in yrs 4-8 x cost of each service visit = your answer.

If you do not plan to keep your car for more than 3 years, foggedabouit.
 
The warranty most folks are getting here is for 7 years, for ~$2500.

To answer your question, It's a different for everyone. One thing is almost certain, GM isn't losing money selling extended warranties, so on average, it doesn't pay. But that doesn't necessarily make it a bad deal. Lots of things don't pay on average, like insurance policies, lotteries, or casinos, but people get some kind of benefit/enjoyment out of them. For a warranty, if the possibility of large repair bill down the road could cause financial hardship or stress, then a relatively affordable warranty is a good hedge.

Personally I've never bought an extended warranty on anything in my life until the C8. It's mostly about peace of mind. As noted above, just one computer module shitting the bed would likely run into the thousands to fix. I plan on keeping this car for around 7 years (possibly upgrading to a C9 at that time), so the warranty allows me to not give a second thought about expensive repairs for the whole time I own it. That was worth a couple thousand dollars to me. YMMV.
 
Reactions: carbuff and 1st Vette
For me it was a totally new car so I got it. I got it on my 88 Beretta and it paid for itself 3 times over. Yours? Who knows. Would I? Always for the rest of my car buying. It's insurance and nothing more. We pay for insurance to avoid a catastrophe. If I was a billionaire I would never buy insurance on something as trivial as a car.
 
Reactions: 1st Vette
Unless included (like with Generac) …
Upselling by a finance or point-of-sale employee
of an X-warranty on anything I purchase
Gets a NO … it is “peace of mind” versus
… and to each their own … JMO
 
Reactions: 1st Vette and Murray20c8
In my opinion, you are correct to question. Extended warranty is fine if you will sleep better at night but it has been my experience that typically problems show up within the 3 yr bumper to bumper and the 5 yr powertrain. An advertised 7 year extended warranty should be called a combination 4 yr / 2 yr because that's all you are getting. I negotiated my 7 year extended on my C7 down from $3,300 to $1,800 in 8 steps. My first step was turning 180 degrees and the next 7 were me walking to the door with the finance /warranty girl following me and reducing the price with every step. When I got to the door I turned back to her and told her I like to be kissed when I get screwed and trying to screw me for an extra $1,500 is not good business, and I left and never did get extended warranty. Maybe I've been luck but my C7 turned 9 this year and it's never been back for a problem. But that's just my opinion and many do get the warranty but I've been on this forum now for over 10 years and as a mod I see and read almost all the posts and I've yet to hear from anyone who has ever had to use their extended warranty... except Murrays Beretta....
 
Reactions: 1st Vette
OK, then you can hear from me

It paid off dearly with our 1993 C4, which had more repair bills than the car cost new. Paid for itself with pretty much every DOMESTIC car we bought since then. Sure, on average, the house wins. The problem is, we do not buy average cars.

And insurance companies do make mistakes. For example: Like with pricing on the C8 service package, which paid for itself in the first visit to change air filter, motor oil, trany oil, one of the trany filters. Still coolant, other oil changes, trany filter, etc in next 4 years to go. Will have paid for itself 2x, and these are not optional services, everyone will pay this one way or another. Those without, will pay 2x or higher, due to inflation.

One computer goes out on the C8 or a LCD panel, and you could have a bill way greater than the cost of the policy. Lot of unknowns still with these relatively new cars. If I want to gamble, I go to Vegas. Not with a domestic car. Your mileage may vary.
 
Reactions: Rruuff Day, Murray20c8 and 1st Vette
Has anyone ever checked how much more the warranty costs getting it in year 2-3-4? It seems stupid that the extended warranty date starts the day you buy it and not when the original warranty expires.
 
Reactions: 1st Vette
C82NV said:
Has anyone ever checked how much more the warranty costs getting it in year 2-3-4? It seems stupid that the extended warranty date starts the day you buy it and not when the original warranty expires.
Click to expand...
Not sure what you mean. Mine is for 7 years. 4 years past the regular warranty. AFAIK it is always 4 years past the end date not 7 years from the purchase date.
 
Reactions: Rruuff Day
Rruuff Day said:
I've yet to hear from anyone who has ever had to use their extended warranty... except Murrays Beretta....
Click to expand...
It came to me that warranties were only 1 year back in '88 also. Now they are 3 on most things and 5 on powertrain.
 
Reactions: Rruuff Day
C82NV said:
Has anyone ever checked how much more the warranty costs getting it in year 2-3-4? It seems stupid that the extended warranty date starts the day you buy it and not when the original warranty expires.
Click to expand...
Thought I explained that 2 posts ago. Doesn't matter when you buy the warranty. The term starts the day the car was new. You want something that only starts after the manufacturers warrant expires, check out some of the used car warranty providers.
 
Murray20c8 said:
Not sure what you mean. Mine is for 7 years. 4 years past the regular warranty. AFAIK it is always 4 years past the end date not 7 years from the purchase date.
Click to expand...
Supposedly when you buy the warranty say in year 3 of ownership it costs more than if you bought it at day 1. Not sure if this is true but if it is was wondering how much more it typically is than buying the warranty at day 1. Buying it now for example is would be a 2024-2025 with 0-50 kms but in 3 years its a 3 year old vehicle say with 10,000-15,000km so the price is different apparently.
 
I knew what you were asking and I don't know, but it's still 7 years from 0 km's. Please ask @LeDon for a quote on both. He should be able to answer that and give you good prices. @Mr.Corvette also might know the answer to that.
 
Reactions: 1st Vette
Each year is a surcharge of $129/year if you don't buy it on day one for starters. If over three years old the car requires an inspection. That means about $400 more plus yearly price increases of the extended warranty.
 
Reactions: 1st Vette and Gilles27
Mr.Corvette said:
Each year is a surcharge of $129/year if you don't buy it on day one for starters. If over three years old the car requires an inspection. That means about $400 more plus yearly price increases of the extended warranty.
Click to expand...

Interesting. Is that just a C8 thing? Most extended warranties are the same price as long as the vehicle is still within the 3yr/60km bumper to bumper period whether you bought it on Day one of ownership or at 35 months / 59000kms.
 
Reactions: Rruuff Day
ScottyR said:
Interesting. Is that just a C8 thing? Most extended warranties are the same price as long as the vehicle is still within the 3yr/60km bumper to bumper period whether you bought it on Day one of ownership or at 35 months / 59000kms.
Click to expand...
It's the current thing. If you have a car outside of 36 months the warranty operates from your current milage and gives you an extension in milage coverage for C8's. I didn't check on C7's.
 
ScottyR said:
Interesting. Is that just a C8 thing? Most extended warranties are the same price as long as the vehicle is still within the 3yr/60km bumper to bumper period whether you bought it on Day one of ownership or at 35 months / 59000kms.
Click to expand...
As far as in my case goes Scotty, you are correct. I checked mine out of curiosity just before the 3 year / 60,000 k expired and the 7 yr / 84,000 k warranty was the same price. Obviously it would expire in another 4 years or 84,000 total km, whichever came first.
Maybe the surcharge after day one is a new thing with the C8 as their track record for warranty service so far doesn't appear as trouble free as the C7's was.
 
You must log in or register to reply here.

Similar threads

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Menu
Log in
Register