Question about timing on purchasing an extended warranty.

[Rich Z]

I've heard all different sorts of conflicting info about this and hope you can give us the straight scoop.

In reference to a NEW vehicle, when is the best TIME (price wise and coverage wise) to buy a GMPP extended warranty? A 2007 Corvette already comes with a 3 year/36K (5yr/100K on drivetrain), right? So up until the end of that 3 year period, the GMPP extended warranty is available.

But is the price different if purchased within the first 12 months/12K miles as opposed to buying within the second or third year of the original warranty period?

Let me put it this way. Of course, I want to get the most bang for my buck, so if I look to buy a 7 year plan and buy it the day I buy my car, then in reality I am only buying 4 years over and above the standard warranty. Right? If I buy it on the last day of that 12 month original warranty, does that further extend the coverage to total 8 years? Or can I wait until the end of the three year period and buy the same 7 year plan and therefore extend my warranty coverage for a full 10 years? Or do all these scenarios fall on their face because the GMPP warranty just begins on day one when I bought the car and it doesn't matter at all when I actually buy the coverage?

:thinkin:

Sure would appreciate the straight scoop on this......

Thanks!

 

[gmwarranty]

In reference to a NEW vehicle.... So up until the end of that 3 year period, the GMPP extended warranty is available.

Yes, the GMPP products are available up till your 3 year - 36,000 mile factory warranty has expired.

But is the price different if purchased within the first 12 months/12K miles as opposed to buying within the second or third year of the original warranty period?

Yes. Pricing and available coverage options (deductible, mileage, and terms) changes as you move into more mileage and years on your vehicle. First pricing increase happens at 12 months and 12,000 miles, then at 24,001 miles (regardless of time), and finally not available after 36,000 miles.


... more to come... need to answer the rest of your questions... :crazy03:

 

[gmwarranty]

Let me put it this way. Of course, I want to get the most bang for my buck, so if I look to buy a 7 year plan and buy it the day I buy my car, then in reality I am only buying 4 years over and above the standard warranty. Right?

From the engine to the trunk lock, if a part breaks - even if it results from wear and tear -- and it's not on the list of the few items not covered, Major Guard will pay for the repair less any applicable deductible -- whatever the part! To view the not covered part, look at GMPP Major Guard.

Simply put your getting this assurance while still under your Chevrolet Factory Warranty. The bottom line is your going to pay less for the same GMPP coverage if you buy it before 12 months and 12,000 miles on the odometer.

If I buy it on the last day of that 12 month original warranty, does that further extend the coverage to total 8 years? Or can I wait until the end of the three year period and buy the same 7 year plan and therefore extend my warranty coverage for a full 10 years? Or do all these scenarios fall on their face because the GMPP warranty just begins on day one when I bought the car and it doesn't matter at all when I actually buy the coverage?

GMPP covereage starts from current mileage and time on vehicle, not from the In Service Date of the vehicle like many other service plans out there. This is a tricky question to answer. The simple answer is buy coverage early while still considered NEW (current year model, 12 months and 12000 miles). Otherwise your coverage expense goes up and your term, mileage, and deductible options go down.

The charts above represent a current model year (2007) and the coverage options available. As the vehicle ages the coverage options change.

Hope I helped clarify. Sometimes GMPP can be confusing.

 

[Rich Z]

gmwarranty,

You have a private message.......

 

[85vette]

I have a Members Choice Platinum policy on my wife's Trailblazer. It can be purchased through a credit union. It list what is NOT covered, and the list is not very long. I have the Platinum Plan with 0 deductible, 6/60 (which will cover me until 2013 or 96K miles). It cost around $1600.00. The best GMPP pricing I could find for a similar plan was over $2K. The dealer (University Chevrolet) had no problem accepting it, even said it was one of the better policies. I used it today for the first time on a shorted electrical connector in the tail lights. The repair was $223.00. It's nice to know when and if a major failure occurs, I won't have to take out a loan to get my vehicle fixed. One more thing to consider, if you don't have faith in your dealer's ability to work on your truck, you have the option of taking it to any repair shop you choose. You can't do that with a GMPP policy. Also, it's underwritten by Cuna Mutual Group. They've been around a while

 

[Rich Z]

Well, I've discussed this with Chad and he made me one HELL of a deal on an 84 month/56K miles 0 deductible GMPP for the C6. I'll be sending off a check just as soon as I pull the cover off the car to get the current mileage for him.

And yes, I have confidence in Shane at Champion and Dane at University to work on the cars. They are both competent corvette technicians.

Thanks Chad! :thumbsup: :thumbsup: :thumbsup: