Extended Warranty--Yea or Nea?

[zolt11]

Because I now have factory bumper to bumper for 7 years, plus wheel coverage for $23 which isn't going make me or brake me. I also got a lower interest rate on my total loan amount which means less interest paid.

 

[George C]

Can I ask you what the extra cost was?

 

[zolt11]

Don't remember off top of my head but can check paper work later

 

[smittydog]

peace of mind

I got the 5/100 bumper to bumper coverage. I believe it was 1200.00 for it.

I did it for the peace of mind...electronics aren't cheap to replace.

When I traded in my Jeep, I got 500.00 from that extended warranty and I put the money on the new Yukon warranty.

 

[George C]

JMHO, and not to offend anyone.

I guess it's a personal preference, but IMO, the peace of mind is from an unfounded fear that is used as a scare tactic and sold from your dealership.
Funny how awesome the car is until the finance guy tries to plant insecurities in order to try to pad the dealerships profit.

I own and maintain a minimum of four new vehicles at all times which I trade in a four to five year cycle. In all of my years, I've never had a major breakdown or failure of any kind.
GM and Ford build some very high quality vehicles, when I buy new, I inform my salesman to close the deal himself because I'm not wasting a second of my day listening to the finance dude insult my intelligence and pad his paycheck with his nonsense warranties, paint sealants or carpet scotch guard pitch.

It's simply an extremely low odds, extremely high profit gamble from the dealership.

 

[AWSMBLU]

I wait til my warranty is almost up , then get it, because it runs with your regular Warranty so you only get 2 more years. Seems like your paying twice for a little extra coverage. To each there own. Just saying

 

[robstor]

I got extended warranty added on my loan. Only added a couple of bucks & the best part is it doesn't care on your mileage. You have it as long as you have the loan. Then you can purchase the plan. So I just keep consolidate credit card bills into it and keep the warranty going.


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[vp46]

JMHO, and not to offend anyone.

I guess it's a personal preference, but IMO, the peace of mind is from an unfounded fear that is used as a scare tactic and sold from your dealership.
Funny how awesome the car is until the finance guy tries to plant insecurities in order to try to pad the dealerships profit.

I own and maintain a minimum of four new vehicles at all times which I trade in a four to five year cycle. In all of my years, I've never had a major breakdown or failure of any kind.
GM and Ford build some very high quality vehicles, when I buy new, I inform my salesman to close the deal himself because I'm not wasting a second of my day listening to the finance dude insult my intelligence and pad his paycheck with his nonsense warranties, paint sealants or carpet scotch guard pitch.

It's simply an extremely low odds, extremely high profit gamble from the dealership.

No apologies necessary on my end! I am in the exact same camp. I've never in my life ever been able to justify or for that matter use an extended warranty.

 

[STAY IN IT]

It's insurance, plain and simple. Do we, on an average, come out on top of the insurer regarding premiums paid versus benefit payout? Absolutely not! The argument can be made that certain individuals don't need medical insurance because they are healthy, liability insurance because they have nothing to lose, comprehensive auto insurance because their vehicle is not worth fixing, etc, etc.

For most of us, a $50, $500, or $5000 repair outside of any warranty or extended protection plan is not going to result in bankruptcy or selling a kidney. On the other side of the coin, we are likely not going to get $5k+ of warranty repairs while covered by a $2k extended plan. At the end of the day, just another insurance choice we make. (With inconsequential ramifications relative to our other insurance decisions)

 

[screamin chicken]

after all the problems I had with my 07 Yukon xl, I added the extended warranty to my 14 Z71, along with it came free oil changes, and 100,000 mile power train, and electrical....coasted me 1500.00

 

[greg_tahoe84]

My mother's tahoe radiator broke 2-3 days after the warranty expired. It cost an arm and a leg to replace it. That and other repairs it had post-warranty more than justifies an extended warranty.

Yes, I am most definitely getting an extending warranty.

 

[motorwerks]

Depends on the price. I'd pay say, $1000 or so. Not $2000. IF it was 5 years/100k bumper-to-bumper and IF I knew I would keep the truck no more than 5 years. Well when selling that truck with a little bit of factory bumper-to-bumper coverage left, it'll be worth another $1000 more than the other Denalis at that time.

I remember that my previous Cadillac SUV had, in 3 years of ownership (post factory warranty but I had 2 additional years of CPO...as I bought this one used from Cadiilac)...amongst major things...two power running board motors ($1650), one water pump, both valve cover gaskets, transmission cooler line, 2 sets of wheel bearings, 1 headlamp assembly, 1 xenon bulb, one power seat motor on the driver's side. I'd say I won on that truck warranty-wise.

I WILL say that much of this depends on your relationship with your dealer and their service department. My guys typically write anything and everything to "try" to get coverage. Some places are reluctant to write anything. I've had things replaced because they were prone to failure (door handles, one window regulator and multiple sets of front wheel bearings). It all depended on the language that the service writer would enter into the warranty claim. For example, my power running boards were fully functional; however one side was EVER SO SLIGHTLY slower than the other. When I showed the service writer the issue, he had the slow one replaced by writing "excessive current draw on board motor". However, he told me that typically it would have to completely fail to have it covered by warranty if he had written it as "slower performance on running board fold up speed).

---------- Post added at 12:21 AM ---------- Previous post was at 12:15 AM ----------

PS, one of my friends negotiated the wheel and tire warranty to $400. It covers all the wheels and tires, roadside assistance, etc. from ANY damage (potholes, curbs, etc.) for 5yrs/100k miles. With the crappy roads around here, one pothole is a $650 wheel and $300 tire plus labor. The chance of using that coverage in 100,000 miles MIGHT be greater than anticipated.

 

[olyelr]

PS, one of my friends negotiated the wheel and tire warranty to $400. It covers all the wheels and tires, roadside assistance, etc. from ANY damage (potholes, curbs, etc.) for 5yrs/100k miles. With the crappy roads around here, one pothole is a $650 wheel and $300 tire plus labor. The chance of using that coverage in 100,000 miles MIGHT be greater than anticipated.

I purchased the wheel and tire warranty as well. Also paid $400 for it.