Extended warranties. Waste or worth I? - Chevy Traverse Forum: Chevrolet Traverse Forum
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post #1 of 5 (permalink) Old 08-09-2019, 02:52 AM Thread Starter
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Extended warranties. Waste or worth I?

I was under the impression that one should avoid the extended warranties sold by the finance guy. Truth? Or am I cynical and paranoid?
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post #2 of 5 (permalink) Old 08-09-2019, 05:43 PM
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The finance guy is there to make money for the dealer. Is it a GM extended warranty? Do they still offer it as Major Guard?
How much are they quoting? Usually there is a option after the sale of the vehicle to purchase it.
My last quoted prices were in the $2000 range.
If I bought an extended warranty for my last vehicle, a 2008 outlook, I would have thrown that money away because all my major work came after 100,000 miles. Even GM extended coverage to major items which many vehicles had the same issue, didn't help me, all my issues came after the extended coverage.
How long is the coverage good for? And you may even be able to negotiate the price of it.
The dealer also makes money on the financing of vehicles. And don't fall for all the extras, scotchgard, undercoating, nitrogen in the tires. pinstriping, and last but not least, window etching.
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post #3 of 5 (permalink) Old 08-11-2019, 08:52 AM Thread Starter
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Thinks electric. These were my thoughts. Husband signed up for all of it. I want him to cancel it. He says it gives him “piece of mind”
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post #4 of 5 (permalink) Old 08-11-2019, 09:46 AM
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I bought one for my '88 Grand Caravan for $700. Had an AC compressor replaced under it - they claimed it would have been $700 (imagine that!). So for me, it was a wash - $700 up front or $700 later. BUT, I haven't bought one since and I wouldn't buy one again.

That being said, there's nothing wrong with "peace of mind," provided you're willing to pay for it. Because in most cases, it will cost you. That's how they make their money.

2011 2LT FWD replaced by 2017 2LT AWD
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post #5 of 5 (permalink) Old Yesterday, 03:49 PM
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Not for me. For the price they charge per year if the vehicule is prone to trouble after the 5 years I will get rid of it for a new one.

Traverse 2017, chevy Uplander 2009 LT short wheelbase, Impala 2003, jeep cherokee Laredo 1990, chevy citation 1984 2.8 v6, vauxhall Firenza1972, rambler american 1964 model 330, vauxhall velox 1956 rebuilt, NSU Prinz 1961 2 cylinder micro car rebuilt, Renault Dauphine 1960 rebuilt, ford prefect 1952 ( english car with non hydrolic brakes rebuilt. Honda 1986 motorcycle in new condition and 13 travel trailers from a Boler 1300 to a Rockwood mini lite 20 feet.
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