Extended Warranty

[JTugwell]

While I wait for my CT4V Blackwing to be built, I was hoping some of you could provide some insight on what extended warranties were offered to you (coverage and costs) at the time of purchase, and also your general thoughts on purchasing one. I am mostly against extended warranties because I never seem to get my money out of them, but these are expensive vehicles and I intend to keep the car for the long haul. I will add that my wife and I keep a healthy emergency fund, so out of warranty repairs could be covered but the extended warranty may offer some piece of mind. Any help would be appreciated!

 

[Tall Steve]

While I wait for my CT4V Blackwing to be built, I was hoping some of you could provide some insight on what extended warranties were offered to you (coverage and costs) at the time of purchase, and also your general thoughts on purchasing one. I am mostly against extended warranties because I never seem to get my money out of them, but these are expensive vehicles and I intend to keep the car for the long haul. I will add that my wife and I keep a healthy emergency fund, so out of warranty repairs could be covered but the extended warranty may offer some piece of mind. Any help would be appreciated!

I never get them because most of the time I trade before warranty expires, but I intend to get one for my 5BW as I'm going to keep it long term.. I did not purchase warranty when I got my car but will before the regular expires.... I have the same question as you about cost and coverage......

 

[jwolf99]

Previous thread for reference

Extended warranties

Anyone who has their 4 or 5 , did you sign up for an extended warranty? If so, which one did you go for?

www.cadillacvnet.com

 

[JTugwell]

Previous thread for reference

Extended warranties

Anyone who has their 4 or 5 , did you sign up for an extended warranty? If so, which one did you go for?

www.cadillacvnet.com

Well crap, I tried searching but had no luck. I'll use the new guy card this time. Thanks

 

[ericwilliamstevenson]

I bought it and then promptly cancelled it when I learned it had a 4500$ payout cap on a cost of 2500$. =/

 

[PrimeTime]

My experience, had a few GM extended warranties on GM cars I "attached" to car after purchase and they cover(ed) just fine. Some arm wrestling at times, but they get it done at the dealer! If you go outside GM Extended Warranty and take it only to the dealer, for these Beast's you are almost guaranteed to throw cash away! Service reps work off commission in my area, everywhere? And, your pocket outside the non GM warranty which will not cover important shit. So, just burn the pile of $$$ up front. Done that as well. It's still a $$ maker for the Dealers. On this it may be worth it, to go with the GM Extended? I did not get one up front. In a few months I may cash some chips in with my dealer and see how that goes....

 

[PrimeTime]

I bought it and then promptly cancelled it when I learned it had a 4500$ payout cap on a cost of 2500$. =/

Not sure why? That's WAY out of balance from the start? In Vegas those odds SUCK!

GM?

 

[PrimeTime]

Can also "stack" multiple issues with just one deductible on GM. OR, at least you could once upon a time?

 

[Snowwolfe]

Only extended I would ever consider is a GM.
Does GM have a cap on the coverages they will pay?

 

[pkincy]

In the past I have used the cars hard enough the extended warranties were a good idea. I have learned to not buy the warranty until the 33 month of a 36 month basic warranty. So it would be at 45 months for us. The extension begins at purchase so why not get the maximum time available. I bought my 2016 Z06 in Sept of 2016 and its basic warranty was up in Sept of 2019. In May of 19 I bought a 50,000 mile 5 year extension from GM for $950. That took my 9 of 2016 car to May of 24. At the time I bought it I had 20,000 miles on the car so it was good til May of 24 and 70,000 miles. I sold the car in early 22 with 24,000 miles on it and it was easier to sell because it still had factory warranty on it for a couple of years and 45,000 miles. That was a well spent $950.

 

[MatthewAMEL]

You can buy a GM Extended Warranty from any GM dealer for any GM product. I almost never buy from dealer I purchased the car from, but hop on the internet and start shopping.

 

[pkincy]

When it was owned by GM, no. I had engines and transmissions replaced on my Corvettes in the 80's. It is now farmed out and just branded GM, but I still have never heard of a cap.

 

[Speed Racer 007]

You can buy a GM Extended Warranty from any GM dealer for any GM product. I almost never buy from dealer I purchased the car from, but hop on the internet and start shopping.

x1000

Finance managers are commissioned based, so shopping is key.

I was asked at the time of delivery but declined so I could shop it.

 

[pkincy]

Corvetteforum had and likely still has a supporting vendor that sells the GM ext warranty nationwide (except for the few states that now require a state insurance license to sell the coverage). Maybe the site people here can reach out to them and see about signing them on for this forum also. Two brothers that used to own a small town Chevrolet dealership and got out and now do nothing but sell GM warranties nationally.

 

[jbawden]

Lot's of anecdotes about how prepaying for future repairs has paid off for people, but purely from a financial and statistical perspective, it's a poor use of your money today. But if you feel better having it, or think there are other intangible benefits, then I totally get that angle.

There is a reason those ^^^ two brothers stopped selling cars and started selling warranties; easy money.

 

[pkincy]

I have been buying warranties on my Corvettes since the C4 era in any case where I have kept them over the basic warranty period and have NEVER ended up with a net negative expenditure. I have always received more in warranty claims, generally much more, than the warranty cost. Now admittedly I had a dealer that also sponsored my race car for a number of years that would be kind enough to take all the aftermarket parts that came off the car and move them to a different bay when the warranty rep came by to make his/her determination, and most of my Corvettes were campaigned heavily either in Autocross or on Track Days so the use case was a bit different than a waxer. Maybe my C7Z was a bit negative but at a $950 cost for an extra 5 years of coverage I likely received near that in claims even on what was by then mostly a waxer and having the additional 30 months of coverage when I sold it made the sale very easy as the buyer got a 5 year old car with nearly 3 years of GM warranty left on it. Too not make a sound financial decision because somebody else may make a bit on money on the sale seems a bit foolish.

 

[OldGoat]

Double edged sword, you are fortunate enough to have a dealer that was willing to cover-up mods that would negate most warranty claims.
I would love to have that option as I had a Ford dealer try to void my regular and extended warranty on my 01 7.3L Super duty for a leaking high pressure oil line fitting o-ring blaming my Gale Banks kit for raising high pressure oil pump above stock. Banks informed the dealer that pressure never changed just injector duty cycle.
Dealer didn't want to hear it and wanted over $6k to replace pump.
Took it home replaced factory o-rings with viton on all lines and fittings total cost was about $50 and that included tool to release oil lines from fittings in head.
I won't ever put the mileage on my BW to justify any monies spent on extended warranty, especially considering that I don't trust any dealers in my area to cover my back after I break the seal on my car.

 

[GTANotch88]

I didn't even get the extended warranty nor the tire/wheel protection sales pitch. But when I'm close to the 4 years, I will seriously look into buying some extended coverage.

 

[jbawden]

I have been buying warranties on my Corvettes since the C4 era in any case where I have kept them over the basic warranty period and have NEVER ended up with a net negative expenditure. I have always received more in warranty claims, generally much more, than the warranty cost. Now admittedly I had a dealer that also sponsored my race car for a number of years that would be kind enough to take all the aftermarket parts that came off the car and move them to a different bay when the warranty rep came by to make his/her determination, and most of my Corvettes were campaigned heavily either in Autocross or on Track Days so the use case was a bit different than a waxer. Maybe my C7Z was a bit negative but at a $950 cost for an extra 5 years of coverage I likely received near that in claims even on what was by then mostly a waxer and having the additional 30 months of coverage when I sold it made the sale very easy as the buyer got a 5 year old car with nearly 3 years of GM warranty left on it. Too not make a sound financial decision because somebody else may make a bit on money on the sale seems a bit foolish.

Well now, if you're going to add to the mix a dealer willing to defraud GM with bogus warranty claims for a modded race car, then I COMPLETELY understand your premise that extended warranties are sound financial decisions. I guess your moral compass pointed you towards a "loophole" in the pay-to-play rule?

 

[Beamz27]

James Black Cadillac In Pennsylvania is very popular amongst Vette and SS sedans folks. Great pricing as I’ve dealt w them in the past. They sell a shit ton of GM extended warranty’s across the country.