extended warranty purchase?
#1
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extended warranty purchase?
I wanted to get a few opinions on this one. My car currently has 11k miles on it and is covered under warranty until the middle of August. In August I have the option of buying an extended warranty for $1000 (1 month salary, i'm 18). The warranty is good for 3 years or 60k miles. The 3 years would come first. My car is a 1LE wannabe with the only power option being a rear defroster. I plan to continue modding as the money comes along. Would it be worth my money to buy the extended warranty? I've been debating this since I bought my car a little more than a month ago. Any advice would help a lot. Thanks.
Last edited by MJSLude99; 07-15-2004 at 02:57 PM. Reason: Add more info
#2
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depends.... if you plan on modifying it I'd say no since they'd probably void the warranty for it. If keeping it stock I always liked the Idea of a warranty to fix ****
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I agree with the above opinion. If you're going to be modding it a lot, even with the warranty a dealership might void it because of your mods. If you know someone personally at a dealership like I do that might be good because then they might "not notice" the mods and still honor the warranty.
#6
Think about it as placing a bet. You are betting $1000.00 that your car will need a repair that will cost more than $1000.00, after your deductible.
I never have thought that was a good wager for the purchaser, and neither does the warranty company, otherwise they would not offer the service.
I never have thought that was a good wager for the purchaser, and neither does the warranty company, otherwise they would not offer the service.
#7
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Um speaking from a guy who once purchased the extended warranty... DO NOT GET IT!!! With that 1000 bucks you can go ahead and buy forged pistons and connecting rods with a couple extra bucks. Our cranks are good for ALOT of horse power. Seeing you have no options, need need for replacing window motors and whatnot else on that aspect. You will be modding your car and it will void the warranty anyways.
Buy some low compression pistons and some forged connecting rods install them and slap on a blower or something. Along with the bolt on's and a DP 600 shot lol... Trust me though, do not get the warranty if u will be modding it.
Goodluck and let us know what u decide on.
John Melamed
Buy some low compression pistons and some forged connecting rods install them and slap on a blower or something. Along with the bolt on's and a DP 600 shot lol... Trust me though, do not get the warranty if u will be modding it.
Goodluck and let us know what u decide on.
John Melamed
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#8
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I recently debated this same thing since I just ticked over 36k miles. I realized that I don't want a dealership touching my car and doing work on it because I don't trust anyone buty myself to do work on my car. Plus, when a part does go bad, I will probably want to replace it with a better part and not just a stock replacement.
My recommendation, put aside $50-$100 am month (whatever you can afford) for an emergency car fund. If something randomly goes wrong, hopefully the money you build up in that little fund will help pay for "unexpected modifications". This way you won't be SOL if something randomly dies on the car.
My recommendation, put aside $50-$100 am month (whatever you can afford) for an emergency car fund. If something randomly goes wrong, hopefully the money you build up in that little fund will help pay for "unexpected modifications". This way you won't be SOL if something randomly dies on the car.
#10
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Warranty
If I were you, I would be VERY careful with whom you apply to extend your warranty with. Believe me, I think it is DEFINITELY worth it, but just becareful with what they do/don't offer you. Good luck!!!!
#12
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It worked for me!
I would get the warranty if you are not going to mod the car.
I had around $16,000 worth of work done on my car, 2001 Z, for the year and a half that I used it. My deductible was $50 each time.
Somebody had beat up on my Z pretty hard. GM even replaced the engine and rear end. Now she is like brand new.
I had around $16,000 worth of work done on my car, 2001 Z, for the year and a half that I used it. My deductible was $50 each time.
Somebody had beat up on my Z pretty hard. GM even replaced the engine and rear end. Now she is like brand new.
#13
buy ONLY the GM warranty.............any other warranty isn't worth spit.......no matter what they tell you.......tell them GMPP or nothing walk away.......unless you want to throw money away
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There are different extended warranty plans. I have Fidelity - good until 91,000 or Nov of 2007. 0 deductible. Paid 1200. I currently have 52,000 and my car is my daily driver.
At ~45,000, rear end went. Cost 2100 bucks including rental, all paid by warranty company.
Also, other little things such as the vent tube, an o2 sensor come to mind. I'd say for me the warranty was worth it especially when the rear end went south.
The only mods to my car are lid, catback, short stick, sfc's, and stb. Dealer has never given me any hassles and I don't plan on any other mods at this point. As long as you don't beat the crap out of your car, they shouldn't give you any problems.
If this wasn't my daily driver, then I wouldn't have gone with an extended warranty.
At ~45,000, rear end went. Cost 2100 bucks including rental, all paid by warranty company.
Also, other little things such as the vent tube, an o2 sensor come to mind. I'd say for me the warranty was worth it especially when the rear end went south.
The only mods to my car are lid, catback, short stick, sfc's, and stb. Dealer has never given me any hassles and I don't plan on any other mods at this point. As long as you don't beat the crap out of your car, they shouldn't give you any problems.
If this wasn't my daily driver, then I wouldn't have gone with an extended warranty.
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Thanks for all the help guys. This is going to be a tough one, I'm going to consider the options all the way until the last possible day. I plan on modding as the money comes along, but I don't drive my car everyday. I was lucky enough to get an 87 Honda Accord from my dad as a daily driver. I imagine it's putting down around 50-60fwhp uncorrected, it's a beast. If anyone else has some opinions either way, just throw them down.
#16
You need to shop around, while in college i sold cars - let me just tell you dealers make more $$ on those extended warranties than on the car. No contest.
If you belong to a credit union, I would check with them. I have seen comparable warranties for 1/2 the price.
Just do your homework. If you find a warranty at a good price, research the co for claims payment history etc.
If you belong to a credit union, I would check with them. I have seen comparable warranties for 1/2 the price.
Just do your homework. If you find a warranty at a good price, research the co for claims payment history etc.
#18
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The only thing that was not covered by my warranty company were what they considered consumeable items. Spark plugs, wires, battery, ... I would agree.
For only $1200 cost with a $50 deductible I definitely got my moneys worth. Especially when they gave me a rental every time the car was in the shop.
For only $1200 cost with a $50 deductible I definitely got my moneys worth. Especially when they gave me a rental every time the car was in the shop.
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Good luck, I've got two months, or 3k miles left on my warranty, I'm already pretty well modded, so I wont be doing the extended warranty thing, But my wife’s car is bone stock, and staying that way, so we will be purchasing the extended warranty from GM on hers, but as previously mentioned, be careful which company you go with, a buddy of mine got an extended warranty form one of those budget companies, and when he went to try and use it, he was told that they went out of business, but the warranty company can refuse to warrant anything if they can prove that the modifications made could of caused the problem to your car, so I guess it depends on how much your talking about modding, if its just exhaust and lid then I would probably say go ahead and get the extended warranty, but if your going to be adding nitrous or anything serious than the warranty would probably be worthless to you, unless you know what your doing before you take your car in to be serviced but good luck man