Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
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Look up the real definition of what a warranty is as described by the Magnusson-Moss Warranty Improvement Act, and you may decide that you don't want to risk buying an "insurance policy" either.
I sold plenty ot GMPP and DCC (and Ford ESP) contracts to folks "after the fact" - I welcomed the business, it added to my bottom line in F&I, and didn't hurt my percentage if I sold them cheap. Negotiate!
I like to keep my cars longer, I was hoping to get 7 additional years from warranty purchase and at least 65 - 75K additional miles.
comments, opinions.. Is there a better solution ?
Thanks
The 10 year powertrain warranties that people see advertised are a real joke in the sense of coverage (internal powertrain items only, but the sensors and control modules are usually what fails and are not covered), and rarely does anyone keep a vehicle past 4-5 years these days.
I don't really recommend Max Care - only a few minor things are additionally covered, and the cost difference is substantial over the same termed Added Care plan.
From what I've read here it seems after-market warranties are a crap-shoot and not worth the brain damage.
Tnx
Yes, it's worth the money IF you pay the right price - one or two module failures will pay for the warranty.
So, since 7 year 84k is the most years and miles I can get combined, tell me what I should pay for it.
The prices I see from a dealer that discounts the GMPP are $2535, $2040 & $1665 for $0, $100 & $200 deductible in that order.
My view is that things are so expensive and difficult for the shade tree guys to fix, that I'll pay $1000-$1500 for 5 year peace of mind in case the $2000 ABS or $3000 transmission goes out. I can deal with an occasional $100 repair or deductible out of pocket, so I not pinching it down to the last penny... I just don't want to lose all my vacation stash on that repair. The older, more simple cars are few and far between now.
Bill
BTW gmoutlet dot com is where I got my pricing above. Cadillac/Pontiac dealer in Pa. NO sales tax unless you live in PA. Don't know if you will cut the GMPP list prices by 45%, but these would be a good place to start.
Check with 3-4 dealers and you'll get 3-4 different prices.
Tnx
No biggie, of course.
"I asked the service manager how he felt about after mkt and he said aside from the crap shoot part of it in the long term, the problem was trying to get someone on the phone for authorization and the hoops you might need to jump thru depending on the nature of the repair"
As a former service manager, I concur 100%. Additionally, most contracts require one of their adjusters to come out (major items), take photos, inspect, etc, before authorizing even a rental car. I've seen these guys take over a week just to come look at it - there you sit, with a torn down car in the shop, ready for inspection...THEN, the guys can order your parts. It turns a regular transmission replacement from a 2 day job into a 3 week job.
I left out the part about using USED (as in salvage yard) components - many aftermarket warranties have this clause in their contract - read it and weep.
Un-Limited
I'd call that car disaster insurance, maybe, not a warranty.
-juice
I'm positive Geico's coverage is ONLY for mechanical breakdown, not wear and tear. The Chrysler warranty probably covers everything from soup to nuts, hence the higher price.
There's a subjective aspect to a mechanical breakdown policy that would make me a little nervous. The savings are impressive, though. Geico quoted me a rate on an 04 Forester that would work out to about $250 over 7 years, rate revisions notwithstanding.
-juice
-juice
I guarantee the dealer makes a larger percentage on the wanna be warranty!
-juice
FWIW I'd expect them to be under a grand. Then offer them $100 over. Surely they have some incentives to meet some sort of quotas.
-juice
You can buy one from just about any GM dealer, and even online. Just do a basic search. As for when, I'd say never, but that's just me. The prevailing wisdom says to wait till a few months before the basic warranty runs out, then shop around. By then you'll know if little Noxie is a rose or a thorn and whether or not you might make use of the contract. The cheapest prices are when the vehicle is newer (within the first year) and jump up towards the end of basic warranty, so that's a factor as well.
Car_man
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Call around, call other states; I received quotes from everyone I spoke to. I understand Texas has some good deals. If you can do it over the phone, it doesn't matter where you buy it.
-Don in Sacramento
I'm sure there is someone hungry enough out there to want my business. For the rest of them, I don't know what keeps them in business; certainly sales volume has no meaning to them.