Extended warranty for truck - is it worth it?

[Duramaximos]

My 2012 Duramax is coming close to the end of its powertrain coverage.
GM is offering me an extended powertrain warranty for $2000.

The coverage is for 60,000km or 4 years, which ever comes first. I only average 10,000 km per year so in my case the 4 years will likely come first.

Is this a fair price? The truck hasnt given me any problems so this purchase is for peace of mind knowing any major drive train repair will likely run north of $10k.

Does anyone have experience with GM warranty or extended warranty?
I mean, will they fight me every step of the way if I make a claim?

[arrow dog]

We have a 2004 and a 2013 Duramax, both 2500's and both have over 60,000+ km on them. Thought about extending warranty on both but after much research, decided not to. If truck hasn't appeared to be a lemon from the get-go, and you have been diligent in oil changes, filters, etc. the only thing to worry about and the most expensive would be the computer parts. These things can go at any time so if you feel more comfortable with additional coverage, go for it.

[Trochu]

GM isn't offering you this deal because they think they are going to lose money on it.

[Dean2]

At 10000 K a year you are spending $500/year or 5 cents a kilometre on "Repair Insurance". The truck has given you zero problems to date and has less than 40,000 K on it, judging by age and what you say you do a year. By the time your warranty runs out again you will just barely have 50,000 miles or 80,000 Klm on the truck. For a diesel that is barely broke in.

I have had MANY pickups that I put well over 300,000 KLM on and never had one that an extended power train warranty would have paid for itself, even if it covered the truck all the way to 300,000. I have never used even $2000 in original warranty coverage on the many used vehicles I bought that still had some coverage left on them.

Based on my experience I know what I would do. Only you can decide based on your history with vehicles.

[bubba 96]

I would in my opinion, cause when things go in a diesel it adds up in a hurry..to have it covered till 2020, I would..
if a set of injectors, glow plugs, or turbo, needs to be replaced then your 2000 is paid and then some..

[rugatika]

I never go for any extended warranties. I've found the bulk of my problems happen under the original warranty (domestics) OR well after an extended warranty would have been over.

With your use I would be even less inclined to get an extended warranty.


I imagine they make some pretty good money off of extended warranties.

[albertadeer]

Get it...

It "would" have just saved me 10,000$

[crazyperch]

If you do get it, make sure you read over everything.
Im pretty sure that the "extended" warranty is through a 3rd party insurance company and you have to pay a deductible.
The warranty wont actually be a GM warranty and the repair will need to be OK'ed by the insurance company

[Selkirk]

Originally Posted by rugatika

I never go for any extended warranties. I've found the bulk of my problems happen under the original warranty (domestics) OR well after an extended warranty would have been over.

With your use I would be even less inclined to get an extended warranty.

I imagine they make some pretty good money off of extended warranties.

So true ^! Extended warranties are one of their Biggest money makers. They make Huge net profits on them!

I would take the $2,000 extended warranty fee, and put it in your own bank account instead. Hold it there as back-up, to cover any unexpected repairs that come up in the next four years ... i.e. operate your own small private warranty program.

My two centavos,

Mac

[58thecat]

Originally Posted by bubba 96

I would in my opinion, cause when things go in a diesel it adds up in a hurry..to have it covered till 2020, I would..
if a set of injectors, glow plugs, or turbo, needs to be replaced then your 2000 is paid and then some..

This^

[Duramaximos]

Originally Posted by crazyperch

If you do get it, make sure you read over everything.
Im pretty sure that the "extended" warranty is through a 3rd party insurance company and you have to pay a deductible.
The warranty wont actually be a GM warranty and the repair will need to be OK'ed by the insurance company

I did ask about this. In my case they are offering a GM warranty. Apparently an extension of the drive train warranty that i currently have. I will be reading all the fine print before I buy.
The finance representative repeatedly told me that the warranty does not cover electical problems and many engine problems can be attributed to electrical issues...this didnt leave me with a very secure feeling. I got the impression right off the bat that they are intent on denying claims. This is my biggest concern. If choose to buy the warranty, I will appreciate the value, if only for peace of mind..... as long as they won't fight me on a claim.

[Bergerboy]

Extended warranties are a scam. Roll the dice and take your chances, you will be better off over the long haul.

[406gto]

I would probably do it for sure as Diesels can be expensive, also once you go in im sure they will deal on that price, i bought Maintenance package for mine that included Extra warranty, the package came to 6285.00 on paper, but dealt down to 3125.00 at finance time of signing paper's.

[Newview01]

Don't do it. Warranty and Insurance are synonymous. They will come out ahead. If you are leaving it stock you won't have issues.

[Dean2]

Originally Posted by Duramaximos

I did ask about this. In my case they are offering a GM warranty. Apparently an extension of the drive train warranty that i currently have. I will be reading all the fine print before I buy.
The finance representative repeatedly told me that the warranty does not cover electical problems and many engine problems can be attributed to electrical issues...this didnt leave me with a very secure feeling. I got the impression right off the bat that they are intent on denying claims. This is my biggest concern. If choose to buy the warranty, I will appreciate the value, if only for peace of mind..... as long as they won't fight me on a claim.

They are definitely going to find every way pssivle to deny claims. Winning at extended warranty is like winning at the casino. The odd player wins but the vast majority loose. If they didn't the coverage cost would have to go up. Same as when insurrance has lots of more winners than they expect due to a huge hail storm. Everyone's premiums go up to erecover the payout.

Go buy 2000 dollars od TD bank shares with the money. It will go up 4% a year from the dividends End of 4 years you will 2300 pllus any capital gains. Use that money to pay for repairs.

[Duramaximos]

Originally Posted by Newview01

Don't do it. Warranty and Insurance are synonymous. They will come out ahead. If you are leaving it stock you won't have issues.

I am looking at this like a form of insurance, similar to home and auto insurance. This isn't exactly an appliance.

[Dean2]

Pretty much sounds like you already decided you are going to do this so what is the point of asking us for input. Canadians are the most over insured people in the world.

My father taught me years ago to only insure losses I couldn't cover from cash on hand. When we three boys started driving my Dad helped us setup our own collission coverage and he participated too. He also agrred to backstop any loss the pot couldnt cover.

We paid pl pd to the insurance company and each put the collision premium, 3000 per boy per year and 600 for my dad, into a pot and the monet was invested. We were all driving high power fancy rigs so the collision prem was actually less than what the insurance company was quoting.

The pot paid for any at fault damage and your premium went up by 1/4 per year of the loss till you repaid the loss but as soon as repaid it went back to normal. When my youngest brother turned 25 the four of us split the pot evenly. We each got back 50,000, which is enough for us to individually cover any collision loss going forward.

I have never paid for collision coverage in 46 years of driving and have saved literally hundreds of thousands of dollars, but I also never had an at fault accident either. Even if I had I would still be way ahead of the game.

[huntsfurfish]

Short answer. No.

[Duramaximos]

Originally Posted by Dean2

Pretty much sounds like you already decided you are going to do this so what is the point of asking us for input. Canadians are the most over insured people in the world.

My father taught me years ago to only insure losses I couldn't cover from cash on hand. When we three boys started driving my Dad helped us setup our own collission coverage and he participated too. He also agrred to backstop any loss the pot couldnt cover.

We paid pl pd to the insurance company and each put the collision premium, 3000 per boy per year and 600 for my dad, into a pot and the monet was invested. We were all driving high power fancy rigs so the collision prem was actually less than what the insurance company was quoting.

The pot paid for any at fault damage and your premium went up by 1/4 per year of the loss till you repaid the loss but as soon as repaid it went back to normal. When my youngest brother turned 25 the four of us split the pot evenly. We each got back 50,000, which is enough for us to individually cover any collision loss going forward.

I have never paid for collision coverage in 46 years of driving and have saved literally hundreds of thousands of dollars, but I also never had an at fault accident either. Even if I had I would still be way ahead of the game.

Nope. Still squarely on the fence.
I'm still curious about first hand experience from GM owners who have had to make a significant warranty claim.

[Duramaximos]

Let's look at this from a different angle...what would you pay for this warranty?
After talking to the dealer again it appears the cost is negotiable.

[Trochu]

Originally Posted by Dean2

I have never paid for collision coverage in 46 years of driving and have saved literally hundreds of thousands of dollars, but I also never had an at fault accident either. Even if I had I would still be way ahead of the game.

You must pay alot more in insurance than I.

[Dean2]

Originally Posted by Trochu

You must pay alot more in insurance than I.

I don't think so. Once I turned 25 and particularly after I got married at 27 collision dropped to btwwen 900 and 2000 per car per year depending on the car. If you own 4 to 10 cars at a time that is min 4000 a year, using the min number of cars owned, ar 35 years at 4000 a year is 140000, invsted over that period it easily turns into 400000 bucks plus the 50000 from the first 9 years with my brothers. If you consider alll the years I had twice that many cars it really starts to add up.

Just shows what a few bucks here and there adds up to over a long period of time.

[bobinthesky]

Extended warranty is a gamble. You're gambling that you might have a problem and the manufacturer is gambling that you wont. The difference is that the manufacturer has done the math and you haven't!

[GeoTrekr]

When I bought my TrailBlazer used from a Mazda dealer, they offered this extended warranty - added 100,000 kms & 5 years. The odo had 79k kms on the clock, and I thought they were nuts for even offering coverage on a domestic for up to 180k kms, which would then also be 10 years old.

SAL Classic Warranty

As luck would have it, the odo hit 80k, and the transfer case gave out. The deductible was cheaper at the Mazda dealership ($50 instead of $100), but in the end it was best to send the vehicle to the specialists at Chev, and the Chev dealer completed the repair and fixed the issue. After the Mazda dealership attempted several repairs (is it the switch? No... is it this? No... is it that? No...) SAL sent an inspector out to have a look, who OK'd the final set of repairs (transfer case replacement). I've since had other issues (wheel bearing, rear window wiper), which, upon providing my local Chev dealer with my SAL coverage info, were covered no problem. Obviously luck (bad) was on my side to get my money back from the warranty, but I couldn't be happier with SAL's handling of the repair issues. Easy for me, and no flack from their direction (I mean come on, my first major warranty repair was 1k kms after buying the car!).

I'd certainly consider doing it again if buying a vehicle with unknown history.

In your case, your vehicle has had years of kms to tell you whether you were likely to use it or not. Go with that.

[Sundancefisher]

Is the warranty dealership, GM, or third party backed? Third party warranties tend to be full of loop holes. If you do want to get the warranty read the fine print. Exactly what isn't covered, what voids the warranty etc.

[Duramaximos]

It is GM warranty.

[Ddawg]

If they cover emissions, DPF, DEF and glow plugs then I would get it. All of these failed after my drive train warranty was up on my 2011. You may be surprised what's not covered on the extended warranty, and still end up paying. I would not buy it.
Safe the $$$$ for when you need it.


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[gatorr]

Make sure you dig deep as what is and what isn't covered. Powertrain warranties do they cover injectors or ? Ask questions. I have a 2008 duramax almost at 250,000 km and have had no issues other then normal wear and tear parts. Flush your injectors every 50,000 km and they will last. Do it yourself very easy look it up on duramaxforums.

[Duramaximos]

Originally Posted by Ddawg

If they cover emissions, DPF, DEF and glow plugs then I would get it. All of these failed after my drive train warranty was up on my 2011. You may be surprised what's not covered on the extended warranty, and still end up paying. I would not buy it.
Safe the $$$$ for when you need it.


Sent from my iPhone using Tapatalk

Good point. If emmissions are not covered then im out!
I believe emmissions are covered under the original drive train warranty.

[fordtruckin]

I just looked at the extended warranty for a jeep Cherokee. Funny how the salesman is telling you how the vehicle is the best ever, will run a million miles and get 30mpg doing it. Then the finance guy says you better have the warranty because it could just up and quit whenever and you will be out thousands of $$.