Extended Warranty
1 - 20 of 42 Posts
Joined
·
169 Posts
I purchased an extended warranty for 5 yrs, 60,000 miles and I believe the cost was about $1000.00. This is the first time I have ever taken an extra warranty out but I figured because this car was so new, untested really and i had a fairly early production car, 323, that it well worth the money.
Attachments
Joined
·
804 Posts
Actually sounds like a good move, especially- like you said, with the car being new to the market. You have to expect some things to go bumpy for awhile so $1k to get peace of mind isn't so bad.triple black said:
Joined
·
169 Posts
Yes, it's a bumper to bumper warranty so I feel pretty good for the next 5 years.
Joined
·
169 Posts
It is bumper to bumper, I checked. We do have a $50.00 deductible tho.
Joined
·
1,417 Posts
That is a wicked good deal... bravo. Mine was almost 2 times as much and I dont think its bumper-to-bumper (and only difference was 1 more year +50 d).triple black said:
Either way, mine seemed to be the typical rate for a new car from GM, I'm happy with it.
Extended warranty items are another profit maker for the dealer. There is a cost figure and dealers can mark them up, as much as double or sometimes triple the cost. Just make sure you are getting a good warranty that does not overlap your factory warranty too much. You already get 3/36. So, how much are you paying for the extra 2 years or 24K miles? Do you really think you are going to have a $1,000 repair in the time period?
My opinion, go for the 7 year 100K warranty and cover your car for those older years and higher mile periods. Also, I suggest a GM warranty so it is easy to make claims, which can usually be done by your service department.
One last thing, I bet no one knows that an extended warranty can be cancelled at any time. The balance will be pro-rated to you or if you have a loan out, will be paid to your bank and place towards principle. This can be done at any time during the term of the warranty. Also, if you change your mind, you can usually cancel your warranty within 30 or 60 days of purchase for a full refund. However, if you have a loan, the refund goes to your bank and placed towards principle.
Just a BIG FYI for you all.....:thumbs:
My opinion, go for the 7 year 100K warranty and cover your car for those older years and higher mile periods. Also, I suggest a GM warranty so it is easy to make claims, which can usually be done by your service department.
One last thing, I bet no one knows that an extended warranty can be cancelled at any time. The balance will be pro-rated to you or if you have a loan out, will be paid to your bank and place towards principle. This can be done at any time during the term of the warranty. Also, if you change your mind, you can usually cancel your warranty within 30 or 60 days of purchase for a full refund. However, if you have a loan, the refund goes to your bank and placed towards principle.
Just a BIG FYI for you all.....:thumbs:
Joined
·
1,417 Posts
Good to know! I wanted to drive my Sky so badly at the dealer (got all the paperwork and information collection done in under 30 minutes) I just said "sure sure sure" to everything and I just was sent the actual terms of the warranty in the mail. I plan to look them over and now knowing that I can weigh out the cost benefits (aka risk/reward) of the extended warranty I may decide to change/remove myself from the obligation. Thanks again Stu.Stu's Sky said:
Joined
·
1,267 Posts
Isn't it amazing how a Sky can turn an adult into a child when it's time to pick it up, waiting can be a life changing experience.:lol: :lol:1994SC2 said:
Joined
·
1,267 Posts
I think I'll buy some stock in the makers of Depends:lol:1994SC2 said:
Joined
·
4,876 Posts
I am kind of like that all the time -- but my ears are tuned for certain words -- My brother spent years selling cars (Buick) and taught me much. However, I feel that rising excitement too and can only imagine what will happen at the actual time of sale. I see my head bobbing like one of those bobble-head dolls and not getting the detail.... Fortunately, I am usually the dealmaker and my wife the money manager -- so with two of us there are checks and balances.
I am not a huge extended warranty person -- although the 100K mile might make sense since I HOPE to keep the car for a long time. I figure any problems that stem from workmanship/materials have GOT to appear in three years. In all the years of owning cars I have had very little warranty work (trans in a Plymouth and continuing work on a Honda till the day I traded that POS) done. We shall see...
I am not a huge extended warranty person -- although the 100K mile might make sense since I HOPE to keep the car for a long time. I figure any problems that stem from workmanship/materials have GOT to appear in three years. In all the years of owning cars I have had very little warranty work (trans in a Plymouth and continuing work on a Honda till the day I traded that POS) done. We shall see...
Joined
·
1,267 Posts
I'll be taking my wife as well for she knows I don't always listen :jester:Rick Tinley Park said:
Oh, one last thing. You do NOT have to buy the warranty at time of purchase. You can go back and buy the extended warranty anytime during the 3yr/36K factory warranty period. However, you cannot put the price into your loan at that time, you must pay cash for it.
So, if the car is good to you, can can pass on the warranty. If it is a trouble maker, you can go back after 2 years and buy one.
So, if the car is good to you, can can pass on the warranty. If it is a trouble maker, you can go back after 2 years and buy one.
One note, if you do buy the warranty two years later, and it is "new car warranty", it is retro back from in service date. So, you don't get another 2 years added to the 7yr 100K warranty. If you buy a "used car warranty", this usually goes into effect after the new car warranty expires. Used warranty usually costs more money.GRinLR said:
1 - 20 of 42 Posts
Join the discussion
