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.
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.