Optional warranties: General Motors Protection Plan

[trinacriabob]

Extended warranties - are they a good idea?

I bought the GMPP for my 1992 Regal. The car had 3/36 but I got coverage up to 6 yrs and 72,000 miles. I NEVER had to use it once! I guess I should have been mad, but I would have had to pay beaucoup bucks for an air conditioning compressor and such had they gone out.

OK, now I'm on the cusp of the new car purchase (in the fall, when I get back from Europe).

If I snag a 2006 (some are still around), powertrain is 3/36 so I'd go 72 months again.

If I snag a 2007 or 2008, powertrain is 5/100, so the extra year is more for the other accessories...which can be expensive...but I'd still go 72 months.

Questions:

Have you bought them or would you?

What are they currently priced?

Are the equiv. warranties cheaper for 2007/2008 over 2006 given that the base powertrain warranty has been extended?

Your input is helpful. Thanks.

[Flybrian]

Bought Major Guard when I bought my Aurora and I never regretted it. Cost about $2000 for 2/24 with a $25 deductable and seeing that it had over $8000 in warranty-covered repairs, I'd say it was worth it.

[GMTruckGuy74]

Even though I lease, I usually take the extended mileage coverage offered by GMPP. I take 36 month leases with 15,000 miles allowed per year. So that means that I have the lease for 36 months and 45,000 miles. The warranty is about $200-$300 tops, but it's reassuring to know that the vehicle is covered for the entire mileage time I'm leasing it. However, I did not take one out on the AURA lease. With GM's new powertrain warranty, and no sunroof in the car, I'm not as cautious as I once was. Because I bought the '04 Malibu (11/2003), I did take a 60 month/75,000 GMPP warranty. I got refunded about 45% of the amount I paid when I traded my car in (which was a good thing - more money in my poket!). I did not take one with the SKY, as I don't drive it much (less than 1,400 miles in it's first year). If we buy our next vehicle (Acadia/OUTLOOK/Enclave or Sierra), I will definitely purchase an extended bumper-to-bumper warranty for peace of mind. Depending on what is leased next though, I may add it. Does this help, or did I totally confuse you?

[CARBIZ]

This question comes up a lot when I go to cocktail parties. Everyone wants to know if extended warranties are worth it.

I have two pat answers:

1) Taking an extended warranty is a guarantee that you will NEVER need it. (Like taking an umbrella with you on a cloudy day!)

2) Only the GMPP is worth it; after market warranties are a nightmare and not worth the savings they supposedly are.

Be careful with how much you are charged for the warranty - some dealers can really jack up the price. I have always been of the opinion that a modestly priced warranty is in everyone's best interest, but some dealers make more money on the warranty than on the vehicle itself.

[trinacriabob]

2) Only the GMPP is worth it; after market warranties are a nightmare and not worth the savings they supposedly are.

Oh, yeah, you're not kidding. About 2 years ago, I went into a Cad-Buick dealership in the area when the LaCrosse (Allure to you CDNs) was fairly fresh.

I wasn't crazy about his price given that he was the fleet guy ($ 1500 off on $ 24000 USD car since I've done better dealing with a sales rep that had no special title) and then I told him I wanted an extended warranty. He kept on going about their local warranty. I told him, but not exactly these words: "You don't listen to the customer's desires, mofo, I don't even plan to stay in this area, so I don't want to deal with an unknown entity. GMPP or nothing." I wasn't ready to purchase, anyway.

But, it will be GMPP or NOTHING.