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Good value when warranty almost up.... Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Sat, 13 Aug 2005 13:35:22
In Reply to: Advice on purchasing Extended warranty on a new 93, Ali, Wed, 10 Aug 2005 14:47:38 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The business manager used to be correct in that you got a much better value purchasing the coverage when the car was new, but now that's not really the case.
The Cadillac of warranties (you'll excuse the fractured metaphor) is the GM Protection Plan, GMPP, Major Guard, which is a bumper to bumper or also known as an exclusionary warranty, that is everything is covered except things specifically excluded as opposed to a named compontent warranty where if it ain't on the list which looks very complete, it isn't covered. Always go for the bumper to bumper or exclusionary warranty vs the named component. A GMPP MajorGuard won't be the least expensive extended warranty product availible. You can purchase these extended service contracts on line, from your credit union and from me, but I believe the GM product to be the best and you certainly won't have to worry about GM being around when it's time for a claim.
Anyway a GMPP MajorGuard "6/100" which is really only +2 and +50k is $2,225 if purchased when the car is new. The same warranty purchased 4 years later at 49,999 miles is $2,400. So maybe you wanna' hang on to your money until close to the end of the factory warranty. And maybe you'll want an addtional 3 years and 45,000 mile GMPP Marjor Guard for only $2,220, instead of 2 years and 50k.
, Sat, 13 Aug 2005 13:35:22 <-- Viewing This Message
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