Extended warranty

[shadow gray 2020 hd]

We had intended on buying from a local dealer that put on a lifetime powertrain warranty, but they simply could not get us the truck we wanted.  Not something I would normally take, but I admit I am in way over my head on the electronics and the duramax.  After I mentioned the local dealers lifetime powertrain warranty, we were offered an allstate warranty by the dealer that sounded pretty good.  Picks up after the bumper to bumper is over.  My understanding of the allstate plan is that it is good anywhere(dealers or independent shops), initial cost is $2800 and has a $100 deductible for pretty well anything and everything for 10 years.  Seeing as how there may be some qc issues, am more inclined to pay for this plan for some peace of mind.  

 

Anyone else here have any input.     

[kylant]

it seems the general consensus across all brands and forums, is to only buy factory extended warranties. seems like the aftermarket companies do anything and everything they can to avoid paying a claim.

i personally would not buy an aftermarket one

Edited September 9, 2020 by kylant

[shadow gray 2020 hd]

7 hours ago, kylant said:

seems like the aftermarket companies do anything and everything they can to avoid paying a claim.

i personally would not buy an aftermarket one

Thanks for the reply.  A factory option was not even offered.  Guess it is pretty well that way with most any insurance, especially in this day and age, they all seem to try their best to weasel their way out of paying.  That being said though allstate was not too bad to deal with when we had insurance through them, and with a warranty contract its not like they can cancel over a claim or raise your rates.  

Edited September 9, 2020 by shadow gray 2020 hd

[Njmurvin]

The free lifetime warranty that dealers offer is worth just about what you pay for it.  I have it on my wife's Honda.  You have to read the fine print. Compliance with their terms is mandatory. If you miss an oil change by 100 miles, it voids the warranty (even when Honda doesn't use a mileage-based metric to determine when oil changes are recommended). And they require an inspection every 30,000 miles at their dealership. So, you have to remember that, too.  I'm pretty meticulous with maintenance and I missed an oil change by a few 100 miles.  Bye-bye warranty ...

 

Ram has some interesting options for factory warranties.  GM not so much. I was pitched some aftermarket options but I passed. I may reconsider as I approach the end of the factory warranty. I mostly use this truck for towing and put 5-6K miles per year on it. I was looking for a longer term but shorter miles warranty (which Ram offers). Sadly, nothing like that is offered by GM.

[EJCarter]

Did you look in to the Genuine GM Extended Protection Plan? I would assume it's available for the 2020's? It can be purchased anytime prior to the factory warranty ending... 

I purchased the platinum package for my 2016 just before my factory bumper to bumper 3 year / 36K warranty ended. There are multiple term / mileage packages available to suit your needs. A good place to start is knappvehicleservicecontracts.com. A large volume GM dealer that has an easy to use website regarding the GMPP Extended Warranty. They can give you a quote based on your plan of choice. You simply enter your VIN. These plans are obviously negotiable. I wanted to give my local dealer a shot...and surprisingly, their initial starting prices were lower than the larger volume dealers. And after a little more haggling, we got the price down even further - paying cash for an even longer term / mileage warranty...    

[shadow gray 2020 hd]

1 hour ago, EJCarter said:

Did you look in to the Genuine GM Extended Protection Plan? I would assume it's available for the 2020's? It can be purchased anytime prior to the factory warranty ending...

Thanks for the information, I had not checked into that, but definitely will.  

[redwngr]

Take the $2800 and drop it in a 'self insurance / retirement account'

 

Do that with every vehicle you buy and every appliance etc that you buy. 

 

The fund isn't likely to ever go 'negative'.

 

 

 

 

 

[diyer2]

Personal choice. 

I agree with redwngr. Investing the money makes more sense to me. I have never bought an extended warranty on anything. The wife has let herself get talked in to them and were a waste of money IMO.

 

[KARNUT]

I have on two vehicles an 05 Hyundai Elantra. It already had 10years and 100K drive train. For a little more I added everything. It’s going on third family member. It was our first Hyundai and a fairly new product. Never needed it. Second was a 11 Genesis. It just went off at 100K miles. Same deal. It came in handy. The nav, backup camera radio combo failed just after the 6-60 bumper to bumper. I came out ahead with the 700$ replacement. No out of pocket. If I was to buy an expensive new vehicle I’d spring for extended warranty. Only if it was at the dealer and of course discounted.

 

 

Sent from my iPhone using Tapatalk

[kylant]

5 hours ago, redwngr said:

Take the $2800 and drop it in a 'self insurance / retirement account'

 

Do that with every vehicle you buy and every appliance etc that you buy. 

 

The fund isn't likely to ever go 'negative'.

 

 

 

 

 

good thought. however, I doubt $2800 into an investment account will make enough money to cover a transmission failure or the costs if there are multiple failures.

 

Edited September 21, 2020 by kylant

[redwngr]

On 9/21/2020 at 4:49 PM, kylant said:

good thought. however, I doubt $2800 into an investment account will make enough money to cover a transmission failure or the costs if there are multiple failures.

 

The folks selling 'insurance' would not be in business if they weren't making a profit, even after paying commissions to the dealers and sales people.

 

My argument is that you're not going to have every vehicle and appliance have a failure that has a cost that exceeds the cost of extended insurance. 

The ones that don't have failures cover the costs of those that do.  Exactly what the companies selling insurance are counting on to happen -- or they won't be in business when you go to collect. 

 

The profit from the insurance might as well be in your pocket.

 

 

OTOH, if spending the extra  money makes you happy, or makes you sleep at night -- go for it.

 

But don't forget that the dmax powertrain warranty is a lot longer than the bumper to bumper (and also longer than the gasser powertrain warranty)

 

Edited September 26, 2020 by redwngr