Extended warranty yes or no?

[carbuff]

So many advantages for buying the extended warranty. Especially on the C8 with the HTC.
I have never gotten any kind of extended warranty before. In the car business we would laugh at those who did. You just got laid away as the saying went. But that was because buyers never shopped the price. Most didn’t know they can shop the extended warranty.
At the retail price dealers are asking??? Crazy to buy. Most are monthly payment buyers. So to add $25 to their 60 month payment was nothing. Most got it. F@I guy made out like a bandit.
I would take my chances because, yes you most likely never recoup that money. When you can buy it for roughly half the price, it’s a NO BRAINER, get it.

Yeah, like most people’s houses do not burn down, but most buy the house insurance anyway. Small cost for potentially HUGE benefit.

If someone plans to keep their C8 for a long time, they it makes zero sense to NOT buy extended warranty, unless they love burning cash or can’t MATH.

 

[Jack Raccoon!]

If my car burns to the ground, my insurance will cover it, not my lack of extended warranty...

 

[gone]

HEY WAIT EVERYONE...

There's no right or wrong answer about getting (or not) an extended warranty on a vehicle. This is a matter of preference and whatever yours is, you'll not convince someone to change their mind if they feel differently. There are MANY ways to justify an opinion on this, either way...

***Regardless of your opinion and if it differs from mine, I respect your right to have one. How you see and justify it and decide to spend your hard-earned money (or not), is up to you.***

 

[Murray20c8]

HEY WAIT EVERYONE...

There's no right or wrong answer about getting (or not) an extended warranty on a vehicle. This is a matter of preference and whatever yours is, you'll not convince someone to change their mind if they feel differently. There are MANY ways to justify an opinion on this, either way...

***Regardless of your opinion and if it differs from mine, I respect your right to have one. How you see and justify it and decide to spend your hard-earned money (or not), is up to you.***

Everybody has the right to make the wrong decision!

 

[gone]

Everybody has the right to make the wrong decision!

I know it's tongue in cheek Murrray but with that same thought in mind: is your middle name perhaps "Jack"?? lol

Hopefully people will realize this isn't a "we versus they" issue (none of them are) but simply Corvette owners here to help each other out, and my comment will get this thread back onto an "even keel".

 

[23VetteC8]

There are a number of variables to consider. I purchased a brand new Laramie Limited RAM in 2015 (ecodiesel). Thank goodness I opted for the extended warranty lol. Repair bills in the extended warranty period alone, were over 30k. I didn’t have to pay a dime, not even a deductible. I remember having the air ride compressor replaced 3 times. So, I definitely got my moneys worth. I sold it 6 months prior to the extended warranty ending.

I also opted for extended warranty for my C8. It may prove to be a wise choice, since the car, which I purchased brand new, didn’t come with functioning air conditioning.

My Lexus however, will never see extended warranty. It can be driven 10 years easily without a single repair, besides regular maintenance.

 

[Jack Raccoon!]

I know it's tongue in cheek Murrray but with that same thought in mind: is your middle name perhaps "Jack"?? lol

Hopefully people will realize this isn't a "we versus they" issue (none of them are) but simply Corvette owners here to help each other out, and my comment will get this thread back onto an "even keel"

Our saviour...

 

[C8vette19]

I just purchased a 7 year GM Total Plus warranty for $1999+hst from an Ontario dealer. I was able to do everything over the phone and sign the contract over email.

I can share the dealer info in a PM if anyone else needs it

 

[opmope]

I just purchased a 7 year GM Total Plus warranty for $1999+hst from an Ontario dealer. I was able to do everything over the phone and sign the contract over email.

I can share the dealer info in a PM if anyone else needs it

Km and deductible?

 

[Vettenut]

I have always said the best option I got for the C8 is the extended warranty. I plan to keep the car even after my search for the perfect C2 is complete.

The one I opted for was the 7 year or 80,000 km .

This July 28th will mark 2 years that beast has been in my garage.

I have only put on 5000 km in 2 years so ill blow through the time way before I run up the kms.

For me extended warranties , be it for cars , dishwashers , or washing machines have paid off more often than not.

Good bet and makes me sleep better.

As for re-sale value ... I don't really care I bought it for me not the next guy as their probably won't be one .

 

[harshadt]

I have always said the best option I got for the C8 is the extended warranty. I plan to keep the car even after my search for the perfect C2 is complete.

The one I opted for was the 7 year or 80,000 km .

This July 28th will mark 2 years that beast has been in my garage.

I have only put on 5000 km in 2 years so ill blow through the time way before I run up the kms.

For me extended warranties , be it for cars , dishwashers , or washing machines have paid off more often than not.

Good bet and makes me sleep better.

As for re-sale value ... I don't really care I bought it for me not the next guy as their probably won't be one .

I also bought the same type of warranty for the same reason- I have a 2020, so the car was brand new and unproven (in my mind) and I figured it was less expensive to spend money on the warranty than on major repairs.
Now, that being said, those mathematicians or actuaries or whoever does the calculations to determine the cost of a warranty are really smart people and have figured out that the vast majority of warranty sales will result in big profits for their company at the price point they set. (Of course those companies or dealers will inflate that cost to make as much money as possible, which leaves room to haggle and feel like you got a good deal!)
The fact that you have made more use on your warranties than you spent means you beat the house! Now whether you look at that as a good thing- made your money back and more, or a bad thing- ended up with many lemons needing warranty work- depends on your perspective!

 

[Vettenut]

I also bought the same type of warranty for the same reason- I have a 2020, so the car was brand new and unproven (in my mind) and I figured it was less expensive to spend money on the warranty than on major repairs.
Now, that being said, those mathematicians or actuaries or whoever does the calculations to determine the cost of a warranty are really smart people and have figured out that the vast majority of warranty sales will result in big profits for their company at the price point they set. (Of course those companies or dealers will inflate that cost to make as much money as possible, which leaves room to haggle and feel like you got a good deal!)
The fact that you have made more use on your warranties than you spent means you beat the house! Now whether you look at that as a good thing- made your money back and more, or a bad thing- ended up with many lemons needing warranty work- depends on your perspective!

Yea it does offer some level of piece of mind .

The LT2 is an awesome BEAUTIFUL engine ( love it love it love it )

The 2 main things that make me nervous about that car are 1...the DCT 2... the a/c system.

Also ( goes without saying but ill say it anyway ) the dreaded check engine light.

These things can easily start crapping out in year 4 5 or 6 ... with my luck they will go AFTER the 7 years are up

But at least I'm good til then.

As for beating the house ?? Probably not but I have used the extended warranties several times on various items.

Must say it does feel good when you do use it especially on the pricier repairs .

I see some guys posted some great prices for that same warranty ... I paid 3 grand for it and at the time I thought I got a good deal

Geeezzzz they saw me comin' with binoculars

 

[Neils]

This is a great thread, thanks to all who submitted what they paid and from where. I did not take the extended warranty yet but plan to buy it at some point and based on the info above might jump on it sooner than later in order not to lose out on a price match. Guessing a dealer may offer the same price to someone else if they just sold at that price, that than remind them that they offered that price a year or two ago.

Sweet spot seems to be around $2k-$2.5k for 7 years (3+4), no need to consider the KM’s if not a daily driver. Thanks again folks !!

 

[Jack Raccoon!]

You should probably finalize your parking spot and port a potty allocation at Bayfield than worry about an extended warranty on your 3 week old car. Just saying...

 

[Neils]

You should probably finalize your parking spot and port a potty allocation at Bayfield than worry about an extended warranty on your 3 week old car. Just saying...

Jack thanks for looking out for me bro !!! Voice of reason as always !!! In touch with Brian and got the parking spot worked out, working on hotel accommodations now and will likely join Morgan’s group for breakfast, which leaves me to plan lunch !!!

 

[Neils]

LUNCH: who wants to meet up at this event and hang for lunch ?? Open to go anywhere, just to get to know some of you ON boys. Sadly I know some of you will be at the race.

CRUISE - I will likely come up on the Friday and join the cruise. I have Teflon memory (non stick) so please remind me your forum alias and name when we meet up at the park Friday night (look for baby blue and Quebec license plate).

 

[ontcanuck]

Morgan is our club member and club sponsor so yes we will be doing breakfast with Morgan. Curious we were told it was for club members only?

 

[Neils]

Morgan is our club member and club sponsor so yes we will be doing breakfast with Morgan. Curious we were told it was for club members only?

bought a car from Morgan (and he helped me to add my mods) and got the coupon for the breakfast, which is how I found out about the event (and considering a long return drive as I picked up the car last month and drove it back).

 

[opmope]

Morgan is our club member and club sponsor so yes we will be doing breakfast with Morgan. Curious we were told it was for club members only?

Are we still talking extended warranty or should we start another thread where to have Bfast and lunch lol?

 

[DenisC8]

Morgan is our club member and club sponsor so yes we will be doing breakfast with Morgan. Curious we were told it was for club members only?

"club members only" rubs me the wrong way. Why exclude some one, especially if he is driving from a different province?