Should I keep the GM Major Guard coverage for my 2014 Chevy Equinox?
I bought a new 2014 Chevy Equinox 6-cylinder LTZ, fully loaded. I paid $2500 for a 72-month or 90,000 mile protection plan. It has a $100 deductible. I felt it would be wise to have this protection because of a.) the high cost of auto repairs and b.) the massive array of electronics in this vehicle that I could never repair myself. However, after seeing the terrible gas mileage on the vehicle and thinking I probably will keep it for no more than five years, I am thinking about getting a refund on the protection plan. I only have until June 14 to get a full refund. I would like any advice as to whether the Major Guard Protection is a good idea or not. Thank you.
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I'd dump it. You're right about the high cost of repairs and all the electronics in new cars, but you should be able to rely on the factory warranty for 3/36 for bumper to bumper issues, and another 2 years for the drivetrain. $2,500 is pricey for an additional 3 years of coverage.
Then again, your mpg may improve as the 'Nox breaks in and you may wind up driving it longer than you think.
I find your Terrible mileage comment interesting.
Several that I know with the V6 pull 30 MPG on the highway!!!!!
I get a lousy 18 MPG combined city & highway on my 6 cylinder Equinox. I should have gotten the 4 cylinder. I'm still "torn" about whether to cancel the Major Guard. I'm not happy with the vehicle but may end up owning past 5 years, and I haven't had a lot of success with Chevy vehicles in the past. The only reason I got the Equinox is because my sister is a GM retiree and I got the employee price. This will be my last Chevrolet vehicle.
Well, since you "got a deal" on buying the 'Nox, that makes it easier to justify putting that kind of money into the extended warranty.