Stingray Corvette Forum banner

Extended warranties

10K views 27 replies 15 participants last post by  71ejw 
#1 ·
#2 ·
Ken Fichtner at Denny Menholt Chevrolet has consistently offered the best price. As you probably found in your research, any GM dealer can sell you the GM extended warranty (bumper to bumper, same as original). However, most mark it up considerably. No matter which GM dealer you purchase from, it will come from GM and be honored by any GM dealer.
 
#3 ·
I am not an extended warranty kind of guys and many of them have caveats and it seems from some of people I know that when something goes wrongs the things that they view show be cover are not. Many of these cars nowadays are so well built that and odds of needing to benefits is small during the window period of the warranty.

I personally figure that all the times lets say over the last 40 years that I was offered an extended warranty on appliances, new roofs,on homes, many vehicles, travel insurance etc. I probably easily saved myself 20k had I bought all of them as most are not cheap.

Of course my brother are example to opposite end of the spectrum where I take the risk under the assumption that it is more likely that it won't happen to me whereas my brother is if it goes wrong I want it covered and don't want big out of pocket expenses.

The moral of the story is everyone have different risk-tolerance levels and I probably take more risk than the average person and believe that I can self-insure most things that could come my way so even if a repair cost me 500, 100,1500 I am still ahead because of all the warranties that had I paid for them and received no benefit, I would had been out of many thousands that I just gave away for peace of mind which has a value to some but not to me. :)
 
#12 ·
I am not an extended warranty kind of guys and many of them have caveats and it seems from some of people I know that when something goes wrongs the things that they view show be cover are not. Many of these cars nowadays are so well built that and odds of needing to benefits is small during the window period of the warranty.

I personally figure that all the times lets say over the last 40 years that I was offered an extended warranty on appliances, new roofs,on homes, many vehicles, travel insurance etc. I probably easily saved myself 20k had I bought all of them as most are not cheap.

Of course my brother are example to opposite end of the spectrum where I take the risk under the assumption that it is more likely that it won't happen to me whereas my brother is if it goes wrong I want it covered and don't want big out of pocket expenses.

The moral of the story is everyone have different risk-tolerance levels and I probably take more risk than the average person and believe that I can self-insure most things that could come my way so even if a repair cost me 500, 100,1500 I am still ahead because of all the warranties that had I paid for them and received no benefit, I would had been out of many thousands that I just gave away for peace of mind which has a value to some but not to me. :)
If that infotainment/radio/rear camera screen in your C7 stops working, it’s a 2000 dollar repair. There are all kinds of modules and mother boards in our electronics laden cars. Subject them to normal wear and tear, nothing extraordinary, time will create problems. Appliances...it’s out of the box to a static existence, a car is a whole ‘nother deal.

That screen I mentioned, mine cost 22-hundred in repairs and replacement. It cost me nothing because it was covered by my extended warranty, which I bought for less.
 
#4 ·
I got an extended warranty from Denny. Good guy to work with and best price I found. However, understand that these warranties--really insurance plans--don't cover everything by a long shot. I broke the plastic cover over the seat controls on the side of the driver's seat just by getting in and out of my car. $200 to repair. They said plastic parts are not covered. Well other than seat covers and carpet, almost every part that isn't metal is plastic, so there you are. I got the longest duration, lowest miles policy. Ordinarily I never buy extended warranties, just on this Vette. --Bob
 
#6 ·
I play the odds lol that the likelihood that it would happen to me is small and worth the risk for 'me". If it doesn't happened to you, then you just paid for peace of mind which is fine as well. We all have different risk tolerance but of course your point is well-taken so half a dozen in one hand and half in the other. LOL
 
#13 ·
Purchased my GMEPP through Dennis Fitchner at a 40% discount from what I was offered by local dealers. One repair could very well pay for it and the peace of mind is well worth it if I never have a claim.
 
#14 ·
Very helpful topic here.
I am wondering what coverages and prices are we talking about here please.
Would love to know mileage + years of coverage = cost
My Z51 has about 6k miles, but is past the 36 months GM warranty.
Thinking of getting extended warranty for that just in case scenario.
Appreciate the help.
 
#15 ·
See my post in this thread #2, and call Dennis to get all of the information directly from him first hand.
 
#17 ·
My automobile insurance company, Geico, offers an extended warranty as part of their auto insurance plan. The cost is low, approx $10/mo for 7yrs/100kmi/$250 deductible. You must add it to your policy within the 1st 15 mo 15kmi. It covers all mechanical parts. Google it for details. I'll be waiting for my anniversary mo to add it to my policy.
 
#20 ·
The extended warranty people are simply liars. They say anything to get the money.
I calculated that simply paying the GM rate of $90 an hour beats the insurance fee. Never the less. If you must get extended coverage do it thru GM
They make money on these extended warranties so your advice may be well advised. GM offers 3/36 bumper-to-bumper and 5/60 powertrain. Purchasing an extended warranty may not be cost effective. I might not keep the thing beyond the warranty period anyway.
 
#19 ·
Having purchased my USED 2017 Stingray on Dec. 10, 2018 and fast approaching the "expiration" of the OEM 3/36 Warranty, I had entertained the idea of purchasing a "Extended Warranty" from Menholt Chevrolet! With just 11,400 miles on the clock I opted to purchase a 2 year/36 K mile warranty from the Dealer where I bought my vehicle. The "Bumper to Bumper Policy" has a $0 Deductible. It is a Ally MAJOR GUARD Policy (Once a part of GM). The cost, IMHO, was reasonable for the coverage provided. I could be wrong, but I thought I had read that Menholt could not offer Warranties to Florida residents. Please don't shoot me if that is not the case. That said, I have confidence that my Vette is covered until I pull the plug on a 2020.
 
#23 ·
I bought a policy from Dennis about a year ago and I live in Florida when I bought it. I had to use it several months ago for a electrical part, with labor that was close to $ 700. I paid nothing. He was running a sale on the policy so I got a good deal on it. I'll bring it in next month for the windshield washer,which is not working , so I'll be close to being even with my policy. I have a early mfg 2016.
 
#26 ·
My used 2014 bought in 2015 has been perfect and has not had to be serviced one iota. That $2000 - $3000 not spent on extended warranty has really grown in my investment account. Just in 2019 YTD my growth in my investment account is 29.55% in which the growth alone in one year off $2000 - $3000 would have paid for most incidental repairs.

Again, I play the odds against something happening to me and I am easily $30k in my lifetime ahead of not ever buying warranties on none of my cars, tv's, appliances, homes, new roofs etc.....
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top