Anyone buy and use the GM Extended Warentee?
Im getting near 50,k miles and I have reservations on weither its a good investment considering GM is nearly tanked.
If I buy it and GM tanks for real wonder if it will be just another piece of paper or if someone not quite in the hole is underwriting it?
Anyone get the extended and used it? If you used it for a big repair did they kick about the claim or was it a easy deal? Any catches you see in the plan?

Also I getauthentic looking ads coming from a gmail address and a hotmail address. I figure these to be fakes plishing, It would not occur to me that a place like GM would have emails that use a hotmail or gmail address for advertising extended warentees. The funny thing is they dont try to hide the fact its coming from a hotmail or gmail email account. Either they are not too sophisticated or its a real offer. Either way, I would refuse to give out credit card info to guys using a gmail or hotmail address.

Thanks All

Best Holiday wishes

CMN

 

I just purchasedGM's Major Guard Extended Warranty for my 06 - Looked at it as an insurance policy. It required a down payment and then monthly payments (interest free), so I have charging my GM Card. Still waiting for the confirmation paper work.

The only problem I had with the deal was that it added to the mileage you have at the time of purchase. My initial thought was that it would begin after my original warranty ended (either by months or mileage).

If GM goes under, I believe the other warranty companies will be in no better shape than a GM Protection Plan. I've heardmore horror stories with non manufacturer warranties than a manufacturer's warranty. The biggie is that they go out of business after you've paid them.

Good luck with it...

 

The extended Warranty on my 08' H3 ALPHAis 7yr/100KZero deductible Platinum GPR(GarenteedPremium Refund) 100% Refund ($2265 Max) if it is not used by the end of the term!! I paid $2300

The contract was bought throughmy Hummer dealer when I bought the rig...,but it is written by "Fidelity Warranty Service"

I've never used it!

If you do get one...., see if they offer the GPR....., probably not though unless it's a new rig!!

 

Despite continuous warnings that these things are not worth what they cost, I've bought GMPP Major Guard policies for my last two full sized Chevy Vans. In both cases, they paid for themselves many times over. Transmissions, A/C compressors, brake cylinders/calipers, front end parts, etc, etc, etc. Even a replacement gas cap was covered! Now, it's possible that my Chevy Vans were simply prone to such repairs, but I've never regretted having bought these policies. If you can get a GMS price, it's even better. Obviously, YMMV.

 

First of all GM is not going to tank. At worst they will file chapter 11 and reorganize. I don't think americans should bail any of the big 3 out, especially Chysler since they're privately held and do not have to post there profit and loss publicly. All 3 need to adjust there buiseness practices. I also bought the extended warrenty. I figure IF anything goes wrong I have no idea how to fix it. I am a mechanic of the older stuff, but the newer vehicles have way to much electronics.

 

Gm wont tank, you have to ask yourself would the US goverment let it? and put a million workers out of a job? not only that, Its the lagest company in the world! workers would wide would be out of a job and the worlds Goverment will not let that happen to many peaple not working and not paying taxes would royaly muck up the worlds economy

 

WOW, the guy who gets the policy with a return of premium option if not used, is in a win win situation. I need to check into that.

 

It's an awful feature. Consider the disincentive to use it. Let's say you paid $3,000 for such a policy. A month before the policy expires, you need a repair that's going to cost $2,500. You have a choice - do you let the warranty pay for the repair or shell out the $2,500 from your own pocket? If you let the warranty pay for it, you're effectively out $500, so it's cheaper to pay for it yourself. If you use it to replace your gas cap (an extreme example), that cap will, effectively, cost you $3,000. Plus, with experience as a guide, it's very unlikely you won't use it at all - you'll just need to decide at each repair if you want to. Frankly, despite my experience with extended warranties, for anything that's not a full sized Chevy Van, you'd probably be better off to simply stash the $3,000 away and pay for repairs out of that.

 

Let me see...., Worst case senerio - I use the warranty & it's a done deal....., Best case senerio - I don't use it and get $2265 back!! What an "awful feature!!" Ifthereis such an "disincentive to use it", thenwhy isn'tthisa standard featurewith all the extended warranties instead of their last bargining chip to sell a warranty??This feature didn't cost extra..., it was thown in as an inticment! If I were to use the warranty for something stupid knowing what was at steak..., thanI would deserve to lose the refund! Of course there might be decisions down the road....., but at least I'll have the option!! Way..... better to have this "awful feature" than to not in my opinion!!

 

Because they really, really want to sell a policy (they make money on these) and this feature sounds like a really, really good feature. The fact is, people will fall for it, especially if it sounds like s win-win.
Where do you draw the line on what's stupid? Let's say that shortly after the manufacturer's warranty expires, you need a brake caliper replaced. Let's say that costs $300 (no source for that price - just a f'rinstance). Are you going to charge that to the warranty company and risk losing $1965? Later, maybe your headlights quit working and you need a $200 repair. If you didn't charge the first one, you probably won't charge this one, either. You're now out $500. Let's say that these little bitty 'stupid' repairs add up to $1500 over time. Now your tranny craps out. I suspect you'll charge the $2000 to the warranty company, even though it costs less than $2265. So, because of this feature, you spent $3765 on warranty and repairs instead of the $2265 you would have spent without this feature.