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My husband bought a new Traverse--2018 North Country--yesterday but didn't take an extended warranty from the dealer
This car has only 36K limit
We likely will be driving it for 70-80K
And there are lot of electronics in any new car
Anyone have recommendation for where to buy extended fully-recognized by GM protection plan?
My understanding from doing some research is that we can usually buy that for reduced price online than from trying to deal w/dealer we bought car from
We also have Costco membership
Can we buy extended warranty through Costco connection even if we didn't get car that way?
Tried calling Costco number for that auto program yesterday and got someone whose first language was not English--not normal for Costco calls IME--so that didn't go too well...
Congratulations on the purchase of your new vehicle. While you may be tempted to commit to a warranty now I would wait and make sure you like the car and plan to keep it before getting an extended warranty. While many states require unused time or mileage be refnunded by law, it’s often forgotten and some of these extended warranty providers aren’t the most upstanding in honoring their commitments and policies. If in 18-24 months you decide the car isn’t quite what you were expecting and/or you see a significant number of visits to the dealer for repairs your plans may change.
Extended warranties sold through dealer businesses offices during closing sequences tend to be among their highest margin products so you were wise to pass at that time. Not all extended warranties are created equal-many have sizable deductibles, requirements that vehicle be service at costly dealership at all factory recommended intervals, and in some cases only pay for a portion of the covered items and don’t cover some items.
I’d encourage you to research what is out there and try calling several Chevrolet stores and building a rapport with one of the F&I managers. You could potentially be able to negotiate purchasing just a warranty at very close to their wholesale cost, a relative has had success doing this with an Audi dealer.
All of this said, my feeling is ensure the vehicle is maintained properly and save the money and self insure. The people who write these policies have data on hundreds of thousands of Chevrolet Traverse units, their historic repair rate, average repair cost and then model an expected value the policy will pay out. They’re in the business to make money, plus a significant portion of the warranty is to pay for commissions for the originating finance manager and dealership who sold you the policy so it stands to reason that, on average, you will come out ahead self-insuring.
So it's pretty well established that extended vehicle warranties are useless, and the dealer markup is known to be on the order of 300-1000 percent (that is, their cost is 10-25% of list price to customers)... but you bought three for half price and think it's a great deal.
*blink* *blink blink*
i have made out on every warranty so far . just got the subaru so to early to tell . just buy the warranties on line for 40-50% off the prices dealers local charge .
i thought i would have lost the bet on my jeep sahara but the last year of ownership it needed extensive front end work when the jeep developed the infamous death wobble . overall it would have cost us in the almost 7 years we owned it about 3000 in repairs with the bulk in the last year we owned it , we paid 1500 or so for the warranty .
not only did the warranty cost 1500 dollars when the dealer wanted 2200 but they are transferable so it is worth more on trade in or sale privately ..
i never knew anyone in our jeep club who kept their vehicle that did not get more out of their lifetime warranties than they paid . the auto companies count on most people trading the vehicles in . with jeep most warranties are non transferable . lifetime is not transferable. my 100k 7 year warranty was transferable . the costs were very close but life time ends when you sell . the mileage rated ones stay transferable.
the nissan got it's moneys worth as well . dealerships get 120-130 an hour here for labor . but many things have a flat rate for labor which makes it actually higher . while the fastest mechanics may do the job in one hour the job rate is priced on the slower guys so a 1 hour job may actually have a book labor rate of 2 hours .
i bought the subaru warranty mostly because the head unit for the nav , radio and various car functions is 3500 bucks alone if it craps out so for about 1k i doubt i won't get my money's worth in assorted repairs and if not , hey no big deal , it is insurance . i stand less of a chance using most insurances we have.
with insurance odds are most will not come out a head , however which side of the statistic are you on ? so for a relatively low price i can insure that it won't be me on the wrong side and so far it has been me since i got more in repairs then i paid for .
i never worried about repairs in our earlier years since we tended to trade in our cars every 4 years and primary bought only bmw's which had a 4 year warranty .
in the scheme of things i am still way a head since repairs today can be brutal and the discounted warranties are not hard to recover the costs . had i paid regular dealer price i would not have been a head .
but there are dealers willing to sell the warranties for basically 10% over cost and you can find them through the forums for those cars .
first thing i did is go on to subaruoutback.org forum and ask who discounts warranties . loads of responses came back all pointing to the same dealership and person as almost all ended up buying their warranties through them .
i did the same with my jeep and saved 1k on the cost . i even gave my local dealership a chance to match it and they declined and said it was not worth doing the paperwork .
Last edited by mathjak107; 04-01-2018 at 05:25 AM..
i have made out on every warranty so far . just got the subaru so to early to tell . just buy the warranties on line for 40-50% off the prices dealers local charge .
i thought i would have lost the bet on my jeep sahara but the last year of ownership it needed extensive front end work when the jeep developed the infamous death wobble . overall it would have cost us in the almost 7 years we owned it about 3000 in repairs with the bulk in the last year we owned it , we paid 1500 or so for the warranty .
not only did the warranty cost 1500 dollars when the dealer wanted 2200 but they are transferable so it is worth more on trade in or sale privately ..
i never knew anyone in our jeep club who kept their vehicle that did not get more out of their lifetime warranties than they paid . the auto companies count on most people trading the vehicles in . with jeep most warranties are non transferable . lifetime is not transferable. my 100k 7 year warranty was transferable . the costs were very close but life time ends when you sell . the mileage rated ones stay transferable.
the nissan got it's moneys worth as well . dealerships get 120-130 an hour here for labor . but many things have a flat rate for labor which makes it actually higher . while the fastest mechanics may do the job in one hour the job rate is priced on the slower guys so a 1 hour job may actually have a book labor rate of 2 hours .
i bought the subaru warranty mostly because the head unit for the nav , radio and various car functions is 3500 bucks alone if it craps out so for about 1k i doubt i won't get my money's worth in assorted repairs and if not , hey no big deal , it is insurance . i stand less of a chance using most insurances we have.
with insurance odds are most will not come out a head , however which side of the statistic are you on ? so for a relatively low price i can insure that it won't be me on the wrong side and so far it has been me since i got more in repairs then i paid for .
i never worried about repairs in our earlier years since we tended to trade in our cars every 4 years and primary bought only bmw's which had a 4 year warranty .
in the scheme of things i am still way a head since repairs today can be brutal and the discounted warranties are not hard to recover the costs . had i paid regular dealer price i would not have been a head .
but there are dealers willing to sell the warranties for basically 10% over cost and you can find them through the forums for those cars .
first thing i did is go on to subaruoutback.org forum and ask who discounts warranties . loads of responses came back all pointing to the same dealership and person as almost all ended up buying their warranties through them .
i did the same with my jeep and saved 1k on the cost . i even gave my local dealership a chance to match it and they declined and said it was not worth doing the paperwork .
Yes--buying insurance is about covering your butt--not making a profit
And this car has only 36K original factory bumper to bumper
We drive back and forth from DFW to Sarasota FL probably 4-6 times a year
We put more miles on a car in year than most people so I expect this warranty will cover us for 2 yrs
Unless it is a real lemon it seems prudent to get extended coverage which is transferable
We didn't have it on our Tahoe we traded it
It was a good car but right after it was over the 50K warranty, there was a bearing in the AC unit that burned out
My husband called Chevy after the dealer said "they" could do anything since it was over the warranty but my husband has been a loyal Chevy customer for decades so I guess they could check records and see...
They gave him the warranty coverage so we paid zilch basically
Saved us over 1500$
I don't know we would be that lucky again with major expense
And I saw how our SIL had to jump through so many hoops when the Jeep he had before this had that front end wobble right out of the dealership---took him over a year to get satisfaction
So I do think we are going to get the extended warranty
I just wanted the name of an online Chevy dealer who was selling at reduced price and it seems no one can provide that information...
I was not too pleased w/my Costco call to their auto program
But maybe will try this week and see if get new person on phone
That said, I would only purchase the GM extended warranty. The third party warranties contain so many gotchas and you are at the mercy of their interpretations and the survival of the insurer. Also, should the insurer decide not to pay or disappear, you are still liable for repair costs.
Well said, and I’m sure 3rd party warranties are giving kickbacks or profits to the dealer for pushing their product. Simple fact is that these warranties are not worth the cost and you’re much better simply going out of pocket if and when a problem arises.
Everyone knows of, or hears (say, on forums) of someone who got some huge, expensive problem taken care of by an extended vehicle warranty. And over here on page 2, someone in Joisey just won $540m in a lottery.
As far as I know, across something like 40 years of being a car nut, extended vehicle warranties have been considered by every authority to be a waste of money, on a par with insurance against bear bites and meteorite strikes. That they are sold, hard, at high prices, by the dealer selling the vehicle (who should be doing everything he can to convince the buyer that the car is indestructible and the OEM warranty is generous) really says it all.
Aside from those who have 'hit the lottery,' or gamed the system somehow, I'd be interested to see a recommendation from a reliable, neutral, knowledgeable source that says extended vehicle warranties are a good purchase for new-car buyers.
Because in 40+ years, I can't think of a single one I've read, other than from a highly interested party like a dealer or an insurer. Or a lottery winner.
vehicles have never had the sophistication of all these expensive electronics until more recently . my subaru that drives itself is my apex of that stuff .
vehicles have never had the sophistication of all these expensive electronics until more recently...
That argument for extended warranties has been used since at least the 1980s, with the advent of EFI, ABS and fancy sound systems.
Automotive systems are designed to give years, if not decades of service under just about the harshest possible conditions. Other than well-publicized cases that usually end in special accommodation by the manufacturers (voluntary or court-directed), these systems simply don't fail prematurely in any significant numbers.
My husband bought a new Traverse--2018 North Country--yesterday but didn't take an extended warranty from the dealer
This car has only 36K limit
We likely will be driving it for 70-80K
And there are lot of electronics in any new car
Anyone have recommendation for where to buy extended fully-recognized by GM protection plan?
My understanding from doing some research is that we can usually buy that for reduced price online than from trying to deal w/dealer we bought car from
We also have Costco membership
Can we buy extended warranty through Costco connection even if we didn't get car that way?
Tried calling Costco number for that auto program yesterday and got someone whose first language was not English--not normal for Costco calls IME--so that didn't go too well...
I would thoroughly read what they cover and what the conditions are. I bought in3 3xtendedcwarranty fir a car. Came time to use it on a rear axle that broke, they denied coverage. They said I hit something. Even the dealer said it’s bs. There was absolutely NO damage to the vehicle. The gears and bearings were worn out. But they declined the claim. Later found out that it was their policy to deny cks8ms. I got most of my money facing. Still lost 20% for cancellation fees.
Forvthe most part the only warranty worth a crap is a manufacturer extended warranty. Anyth8ng eks3 8 wouldn’t bother with
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