Extended warranty yes or no?
- Thread starter rtrombley3
- Start date
Yes. From dealership brand new. They offered 500 off at first. I said no. Then offer 1000. I think I got 1300 off at the end.
I purchased an EW for my last Vette and it paid for itself (electronics). I did the same with the C8 HTC as it is so new and the expense wasn't bad at all. Mostly for peace of mind methinks as I have not experienced any issues with the beast. Resale is another thought, however, I will likely keep the C8 well after warranty expiration. Like you, it is wintered and only gets about 5K per year. But, there is just something comforting when you have your foot in it, knowing you are covered by GM no less...Happy Motoring!First time Corvette buyer (well as soon as my dealer gets his next allocation I will be). Wondering what the consensus is on buying an extended warranty? I winter store my vehicles and the last two cars I bought extended warranties for saw them run out time-wise before I ever got close to the mileage limits. I averaged about 9,000-10,000 kms yearly. Yay or nay? Thanks.
What was the original price for the warranty? They dropped the price three times before I left the dealership after picking up my C8. Then as I was leaving they said I could renew at a later date if I wanted to. Felt like they were really pushing the warranty. I'm sure they get a commission from every warranty they sell.
For certain the financial guy gets commission.. when I pushed for a lower amount or I won’t take it. he said he can’t offer beyond that
. When I got my bmw exnteded warranty. It was totally diff. They couldn’t give any discount as pricing was given by bmw.
The dealership makes huge money on EW. They quoted me $3400 for the platinum 7 year package and dropped to $3200, then $3000 and finally $2500 before I got out the door. I considered it until I read the fine print on all the things they don't cover. That plus already having a 3 year bumper to bumper and a 5 year power train, plus the fact your 7 years starts from the original purchase invoice date, I figured I'd take my chances without it for the extra 2 years of powertrain warranty, as the rest of the EW isn't anywhere close to a bumper to bumper. EW seldom pays off. Note to others....read the fine print and rarely does anyone get their money back for the EW since as soon as you call roadside assistance or take the car to a dealer for a suspect warranty item, that cancels any EW refund whether the car is still new and still within the original warranty period or not. In addition, before they will say if an item is under warranty, they need to tear the problem area apart and see if the EW applies to whatever broke (at your cost if it isn't). Don't believe everything the dealer tells you about EW. Do your homework and check Google reviews on the carrier. GMC extended warranty has a slightly better reputation but FC Financial group (who are owned by the western Wheaton Chevrolet group....not so much. Not trying to talk anyone out of EW and if you sleep better having it, go ahead. Just my opinion and the opinion of the GM service manager when I bought the car. And FYI. The only thing my 2015 has been back for is a PDR update under warranty a month after I purchased the car. That would have crushed any potential EW refund.
Yeah I have had some bad experiences with the fine print. A story to long to tell here. But anyways as I left the dealership the price had dropped to $1900.00. Didn't ask what package it was but it was around $3,000.00 to start.
I bought the GM 7 year, 80km with 100$ deductible, 2500$. So far, no reason to think I needed to, but as stated earlier, with the DTC & HTC, 2500$ was a no brainer for me. ( original price of 5000$, I bought the warranty from a different dealer.)
Hello all. So almost 10 months later with no new posts.
I understand you have to shop around and can buy from any dealer as the price and term fluctuates. Those of you that have bought extended warranty!!!!
1.) What did you pay?
2.) What Dealer?
3.) Deductible?
4.) Years and KM?
I understand you have to shop around and can buy from any dealer as the price and term fluctuates. Those of you that have bought extended warranty!!!!
1.) What did you pay?
2.) What Dealer?
3.) Deductible?
4.) Years and KM?
My car will be 3 years old in August. I started looking around for extended warranty here in London, On. So far I have 2 quotes for 7 year 60k km and $100 deductible for the GM plan Total Plus, both around $3800. I will keep on calling around different dealers in the area to see if anyone comes in with a better offer. Hoping to find someone around the $2500 price range.
It's 7 years and 60k mileage from when the car was new. A pet peeve of mine as a 7 extended warranty should be stated as a 4 year extended warranty on portions of the vehicle and only a 2 year extended on the power train. There is a huge dealer markup on extended warranty. Get in their face and you should be able to get $1000 off the top pretty easily. I was quoted $3,200 when I bought my C7 and before I got out the door it was down to $2,500. I went to another dealer and was offered it for $2,200 within 5 minutes of sitting at his desk. Don't rely on the phone. If you're thinking of buying, go directly to the dealership.
The insurance company nerds will have calculated exactly how much it's likely to cost the company for warranty payouts and ensures it's a good deal for the company. So, unless you have insider knowledge on failure rates, you can assume that, for the average driver, it will make no sense to get the extended warranty. The issue is that they calculated that for the AVERAGE over thousands of owners. If you're one of the statistical anomalies and have a bunch of issues, it will likely save you a lot of money. It's like gambling, you're pretty much statistically guaranteed to lose, but there are always the odds to consider.
Totally agree. I ended up not buying it and in 8 years wouldn't have used it. So my gamble paid me the $2,200 I would have spent. Wonder what I did with it....
Here is what I read a year ago. But can’t find it now. They say what ever the price is retail. They are still making money at 50% of that. That’s how much of a make up is in the F&I department. They make more money then the sales guy.
Here is what I’m hoping to find based on 50% off
Total Plus 84 months 80,000KM $100 deductible $1,500
Total Plus 84 months 100,000Km $100 deductible $2,000
Before tax.
I know, good luck. But that why I’m asking you all.
Let us know how you do.Here is what I read a year ago. But can’t find it now. They say what ever the price is retail. They are still making money at 50% of that. That’s how much of a make up is in the F&I department. They make more money then the sales guy.
Here is what I’m hoping to find based on 50% off
Total Plus 84 months 80,000KM $100 deductible $1,500
Total Plus 84 months 100,000Km $100 deductible $2,000
Before tax.
I know, good luck. But that why I’m asking you all.
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