'19 Silverado 1500 LTZ / Z71 -- Extended Warranty - Yes or No

kyfisherman1 · January 14, 2020

I've never been one to purchase extended warranties on vehicles but these new vehicles have a lot of electronic bells and whisltes that can get expensive. I just bought my truck (1300 miles) and they are saying I can still add the extended warranty if I want to. Sticker on the truck was just below $60K. The extended (bumper to bumper other than normal wear items) is $1700 for 6-years / $75K miles or $2100 for 6-Years / 100K miles. Any thoughts on purchasing the extended? I'm leaning towards purchasing it although I usually get rid of my vehicles around 75K to 80k miles. I average about 14k miles per year.

If I sale the vehicle they said I could transfer it to the new owner for around $75 and i I purchase another new Chevy and trade this one in they will refund a prorated amount.

Also...........are the prices on the extended warranties negotiable? I read somewhere that the dealerships are marking them up 30% to 40%.

Any thoughts???????

Edited January 14, 2020 by kyfisherman1

davester · January 14, 2020

Yes, they are negotiable.

Do not trust what the saleman says. Anything not explicitly written in the paperwork, isn't in the agreement, regardless of what they say.

Their idea of "normal wear items" is likely to be different than yours.

Shop around for these. Different companies offer different levels of service, for varying amounts of money. The dealer is likely the worst place to buy, particularly if you negotiated hard on the price of the vehicle.

And negotiate hard on the price of your vehicle first. Lock down the price, and then only talk to them about the extended warranty. Don't agree on the spot to it,. Say you are going to check out competing products and compare them to the dealers product (and watch the saleman squirm at that).

Oh, and don't fall for the "you've got to do this right now, you can't get this later, deal isn't valid later, blah blah blah" sales technique.

Edited January 14, 2020 by davester

Colossus · January 14, 2020

No. don't get it. Set a little bit of money aside every paycheck into a savings account that you won't touch unless for repair and if you don't use it up, you can use it towards your next vehicle. Warranty/service plan providers make a killing off of the stuff they sell to you and rip you off on.

94yj · January 14, 2020

i would recommend getting the gm factory extended warranty only not the aftermarket ones that seem to always say say sorry that part or problem is not covered and you can look around at different dealers and have them beat the other dealers price when i have bought new in the past i have always done the extended warranty on one vehicle i bought 1 dealer said $1600 called around and got the same factory extended warranty for $900. which is the dealer i went with even though they were 40 miles away

Dunn · January 14, 2020

I wouldn't but if you do shop around...you don't have to get it thru dealer, its just an insurance policy and lots of em do these things....so shop around and bring those numbers back to salesman if you really want to get it thru dealer

they offered it to me like 4 different times each time being cheaper than last (all within 20 minutes)...in end I didn't get anything

they are huge money makers for them

PPK · January 14, 2020

I am thinking about doing it as well.. maybe because i am coming from a '17 f150.. this is what my quotes look like. I don't keep mine that long.. but with state sales tax on a truck $2500 in Oklahoma.. i am thinking its cheaper to keep it. $100 deduct at 60/60 is what i am thinking... interestingly you can see how warranty costs trend up at 6 years...

Pete

PLATINUM: GMEPP - by General Motors / AMT :

Months & Miles from Today

Deductible

Your Tax Free $COST$

48/48000

48/60000

60/60000

60/75000

72/75000

72/100000

84/100000

0
100
0
100
0
100
0
100
0
100
0
100
0
100

830
780
990
890
1108
958
1319
1174
1503
1333
2145
1800
2318
1908

DogMom · January 15, 2020

Nope. I considered it as well but after doing my research I decided against it.

Instead of paying for the warranty I put that money aside for future repairs and of course changed the engine and transmission oil to Amsoil immediately.

As others mentioned, most dealerships are just selling third party extended warranties and making big commissions. I shopped around for the best price but more importantly, for the best customer service when a warranty claim was necessary. At the end of the day, I chose not to go with any extended warranty because I plan to lift my truck. I asked each warranty company about an after market lift or even the GM factory lift and it turns out, this would have voided the warranty. Yes, the whole warranty, not just related parts.

Not to say this is the case with ALL extended warranties but if you plan to do anything to your truck (including bigger tires) go over the fine print with a fine tooth comb or ask for a sample contract and read the conditions carefully.

Good luck!

ShamrockShooter · January 15, 2020

If you have a sliding rear window you run a good chance it will leak like everyone else and you will eventually have a buyback. I am glad I didn't get the warranty on my 19. It only lasted 6 months before GM bought it back for the leaking window. The 2020 they replaced it with has a Leaking window too and that truck might not make it 3 months.

I would pass. You usually have until 36k miles to decide. Give the truck a couple years and if it is problem free and you want piece of mind then pull the trigger on a warranty.

Also shop different dealers out of state you can usually avoid paying sales tax on the warranty

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Neumonic · January 16, 2020

Contact Dennis Fitchner, I have bought at least 3 extended warranties from him over the last 18 years. Haven't found anyone to beat his prices and he is super easy to work with, just purchased one from him for my 2017 Z06 after deciding to keep it another 3 or 4 years. Like someone else mentioned, you have time as you can get an extended warranty anytime before the factory warranty runs out. I had 2 months left on my vette when I pulled the trigger.

Dennis D Fichtner

Warranty Specialist

Denny Menholt Chevrolet

406-896-3082

Moend · January 16, 2020

Don't do it. Units you read what you are getting after deductable and adjustment you will end up paying for the service.

I don't think they are necessary. There is something called the bath tub rule

Basically if you are looking at across section of the side of the bath tub. The x axis is time and the y axis is the chance of something going wronh with your vehicle. Higher chance for something to go wrong in the first 0-5 years and last 15-20 years.