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  • What is best extended warranty Company

    What is the best extended warranty company? I have Ally on my C7 and Camaro ZL1. Do each dealer offer different company warranty's? Any help would be appreciated.
    J Balmer, Pemberton, NJ Medford Lakes Corvette Club Member
    "3LT Zeus Bronze, Natural Dipped, NNP, E60, ZZ3 Engine Package, 5ZZ , 719, J6A Black calipers, DUB Sterling Silver Racing Stripe, BV4,"

  • #2
    GEICO offers a really good plan as long as you start it on the original finance and insured through them. 7 years 100,000 bumper-to-bumper. I've used it on my past cars and plan on using it for my C8 when I get it.

    Comment


    • #3
      Another way to look at this, and one that shows the true cost of the policy, is to subtract the factory warranty from the new one. What you are really talking about here is a 4 year, 64,000 mile extended warranty. Keep that in mind when you write the check.

      Comment


      • #4
        I've been offered two so far the dealer I'm buying through offered 60mo ( 5yrs) 40,000miles $100deductable ($1450) for the vehicle service contract, 60mo (5yr) 75,000miles 0 ded.($1330) My other dealer offered from ALLY, 72mo (6yrs) 48,000miles $100 Ded, maintenance plan 5yr 500,000miles 10 services. ($2971.78)
        J Balmer, Pemberton, NJ Medford Lakes Corvette Club Member
        "3LT Zeus Bronze, Natural Dipped, NNP, E60, ZZ3 Engine Package, 5ZZ , 719, J6A Black calipers, DUB Sterling Silver Racing Stripe, BV4,"

        Comment


        • #5
          So, a complicated question. First, understand that these products are not "warranties." They are insurance contracts that will pay towards covered services. If a dealer tries to imply that it's an extension of the bumper to bumper warranty, or that it covers bumper to bumper, the dealer is lying.

          That bold part is important, because to understand what you're buying you need to read the fine print and find out what is covered, and what isn't. Most of them have very long lists of excluded components. Some don't cover any electronics, many will only cover electronics up to a certain amount, and can leave you with a big bill if there's a major problem. The GM plan (Chevrolet Protection Plan) for example covers nothing at all for "convertible top mechanisms. None cover paint, many don't cover problems with interior leather, carpet, etc. KNOW WHAT YOU"RE PAYING FOR. If you don't compare coverage, you can't really compare price.

          If you buy the GM product, you can get the car serviced at any Chevy dealer (or in a pinch another GM dealer), and the dealer takes care of handling the claim. If you buy a 3rd party plan from some company you know nothing about, you may have to return to the selling dealer to get coverage. (That happened to me with a plan I bought from a Ford dealer: I took the car to a different dealer that was close to work. They did the repair, and then told me they wouldn't honor the service contract. When I contacted the company to get reimbursement, they said I should have taken it to the selling dealer. And you may have to pay for the service up front, and then request reimbursement.

          I would suggest using Google and searching for reviews / ratings of the company your dealer is using. MOST of the 3rd party "warranty" companies are closer to scams than legit businesses, and look for every excuse to avoid paying a claim. When my wife bought her Mazda, the dealer tried to sell us on a service contract. I said no, but went home and researched the company out of curiosity. Probably 8 or 9 out of 10 reviews were hugely negative.

          You might find this thread interesting: https://www.midenginecorvetteforum.c...ended-warranty

          This post has links to the Chevy plan where you can see what's covered and what's excluded: https://www.midenginecorvetteforum.c...138#post187138

          And as ArmyRetired mentions above, many insurance companies offer similar products, often called Mechanical Breakdown policies. Just like ones the dealers sell, you need to read the fine print. Some are very good, some not. GEICO's has a short list of exclusions, almost all of them normal maintenance items. It's also paid for in your insurance premium, so when you sell the car you stop paying for the coverage. The downside is that it kind of locks you into that insurance company for as long as you want the service contract.

          SunKissed, my 2015 2LT, 7MT, Black over Daytona Sunrise Orange Metallic, Stingray convertible (One of about 40)

          Purchased 5/2/2015,
          >36,000 miles

          Proud member of the Old Dominion Corvette Club. Check us out http://www.olddominioncorvetteclub.org

          Never grow up - It's a trap.

          Comment


          • #6
            The absolute best time to purchase an extended warranty is just before factory warranty expires (36 mos.) and have less than 10k miles on the car.
            I bought a 84 mos. 56k miles GM warranty just before my factory warranty was about to end.
            I paid just under $1,200 less than 2 years ago from Todd @ MacMulkin, as after price shopping, he had the best prices by far,
            and really easy to work with. He offers longer or shorter policies according to your needs.
            YOU ARE WASTING YOUR MONEY IF YOU BUY AN EXTENDED WARRANTY AT THE SAME TIME YOU BUY THE CAR.
            The first 3 years are already covered, so you are buying duplicate coverage for nothing.
            Hoping for a 2021

            Comment


            • #7
              Like all insurance risk versus reward for us all, but just like fire and earthquake insurance, we hope we never need to file a claim and every dollar we spent on premiums is truly wasted. But if....

              While some by third party insurance, to get, your money back IF they cover your claims after the fact (read carefully the pages of exclusions), you have to first pay for the repair up front, then seek reimbursement later. That compares to GM insurance which is already on the computer at your dealership and you get the coverage amount (minus the deductible) reduced from your bill before you leave the dealership for that repair.

              On one Corvette of ours that insurance more than paid for itself handsomely. On another one It was a net expenditure.

              If you are looking for GM insurance, I would recommend you contact Dennis Fichtner who has been the best source for mega thousands of ‘corvette owners for decades. His pricing and the first two times I bid it,out, was cheaper than I found anywhere: (406) 698-6355

              Here’s our earlier thread on this subject with more. https://www.midenginecorvetteforum.c...ended-warranty
              GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 23 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

              Comment


              • #8
                The Chevy dealer got me 7 years bumper to bumper at closing for something like $1800 - thought it was a good deal so I signed on.

                Comment


                • #9
                  One potential problem with aftermarket, i e non-manufacturer supported extended warranty, is they may not be around when you go to collect. While this doesn't seem to be the problem that it was 30 years ago, it's still a consideration.
                  Save the wave.

                  Comment


                  • #10
                    Thank you all for the great insight into my situation. I have found out that GMC Extended warranty's in 2008 became ALLY so in fact when they are offering you ALLY as your extended warrantor you are getting a GM extended warranty. I called around to a few different dealers and they all said the use ALLY for there extended warranty's.
                    J Balmer, Pemberton, NJ Medford Lakes Corvette Club Member
                    "3LT Zeus Bronze, Natural Dipped, NNP, E60, ZZ3 Engine Package, 5ZZ , 719, J6A Black calipers, DUB Sterling Silver Racing Stripe, BV4,"

                    Comment


                    • #11
                      Originally posted by Prefurbia View Post
                      The Chevy dealer got me 7 years bumper to bumper at closing for something like $1800 - thought it was a good deal so I signed on.
                      Except that it's not bumper to bumper. READ the policy. There are no service contracts that are true bumper to bumper. F&I guys make lots of money on commission by lying to customers.
                      SunKissed, my 2015 2LT, 7MT, Black over Daytona Sunrise Orange Metallic, Stingray convertible (One of about 40)

                      Purchased 5/2/2015,
                      >36,000 miles

                      Proud member of the Old Dominion Corvette Club. Check us out http://www.olddominioncorvetteclub.org

                      Never grow up - It's a trap.

                      Comment


                      • #12
                        Originally posted by Njfisherman View Post
                        Thank you all for the great insight into my situation. I have found out that GMC Extended warranty's in 2008 became ALLY so in fact when they are offering you ALLY as your extended warrantor you are getting a GM extended warranty.
                        Wrong. GM no longer uses Ally to process the GMEPP/Chevy Protection Plan. If you buy Ally you're dealing with them and your dealer. Ally is NOT the GM extended warranty. GM stopped using Ally. Ally is now an independent, 3rd party plan. There is no guarantee another Chevy dealer elsewhere will accept it. Read my post above about F&I guys making lots of money by lying.
                        SunKissed, my 2015 2LT, 7MT, Black over Daytona Sunrise Orange Metallic, Stingray convertible (One of about 40)

                        Purchased 5/2/2015,
                        >36,000 miles

                        Proud member of the Old Dominion Corvette Club. Check us out http://www.olddominioncorvetteclub.org

                        Never grow up - It's a trap.

                        Comment


                        • #13
                          Extended warranties and extended service contracts are for suckers......they are a rip off like dealer financing ....... How do I know that ??? The family has 5 new car dealerships....😉

                          Comment


                          • #14
                            $
                            Originally posted by bartruff View Post
                            Extended warranties and extended service contracts are for suckers......they are a rip off like dealer financing ....... How do I know that ??? The family has 5 new car dealerships....😉
                            I've seen research that says the warranty a dealer charges $2000 or more for, and "discounts" down to $1500 as a big favor to you, often costs them no more than $400. And out of that $400 both the insurance underwriter and the administrator still make money.

                            I had one dealer try to sell me a Honda service contract: "Retail price" (he claimed) was something over $3,000, but after much back and forth he agreed to sell it to me for the bargain price of about $2300. I declined, and later found out the actual retail price from Honda was less than the "discount" of $2300 he offered me.

                            Yeah, F&I guys work on commission. They generally were the dealer's very best salespeople at selling people cars they didn't really want, so they got promoted to the even higher profit F&I team. Service contracts make dealers more money than the car itself most of the time.
                            SunKissed, my 2015 2LT, 7MT, Black over Daytona Sunrise Orange Metallic, Stingray convertible (One of about 40)

                            Purchased 5/2/2015,
                            >36,000 miles

                            Proud member of the Old Dominion Corvette Club. Check us out http://www.olddominioncorvetteclub.org

                            Never grow up - It's a trap.

                            Comment


                            • #15
                              Originally posted by Prefurbia View Post
                              The Chevy dealer got me 7 years bumper to bumper at closing for something like $1800 - thought it was a good deal so I signed on.
                              So in reality, you got an additional 4 years of coverage. GM already provided the first 3.

                              I waited for my factory warranty to near its end (on my 2016) before buying an 84 month/56k mi. extended warranty from Todd at MacMulkin
                              who had by far the lowest price. Don't purchase a warranty before speaking with Todd, and surely don't buy one when you first
                              buy your car, as you're wasting your money.

                              Prefurbia - If you purchased your warranty within the past 30 days I believe you can cancel for a full refund.
                              Even if it's over 30 days you can get a pro-rated refund which mean almost everything you paid for it,
                              especially if you haven't used it yet.

                              Do your homework and save yourself some money by waiting and buying down the line.
                              Last edited by Mr. Wonderful; 09-20-2020, 04:12 PM.
                              Hoping for a 2021

                              Comment

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