Extended Warranties

[gordyzx9r]

My factory warranty expires this month on my truck (2006 GMC Sierra 2500 HD SLE2 4X4). I recieved a letter in the mail from CarSafe (Enterprise Financial Group) trying to sell me an extended warranty plan.

I currently only have 26K miles on the truck as I only use it to tow my GN, make the occasional run to the hardware store, or move something big that needs the bed.

They "offered" me their 5 year/100K mile additional Platinum plan (of course it's platinum...everything is platinum when they're trying to sell you something). But the price seems insane: $3,475 (or $695 every year for five years, or $495 down + $248 month for 12 months). It has a $100 deductible, they pay a rental car fee for work >4 hours but only up to $150 and they only cover towing up to $100 (but my insurance covers towing already).

I've heard that extended warranties are not worth it...I've also heard some people who swear by them.

Is there something better than what these people are offering? I have not talked to my GMC dealer yet so I don't know if this is the same thing or not they sell.

Has anyone dealt with CarSafe (Enterprise Financial Group) and have good or bad comments?

[JohnC]

When I recently bought my 06 Trailblazer SS I purchased the actual GM Extended warranty. It was about 1/2 the cost of the one you mentioned, and it covered everything except for normal maint.

Here is a link to their site gmprotectionplan.com

Mine has the same $100 deductible. The only reason I chose to get an extended warranty on mine, when I usually don't, is that I have heard that transmissions, and rear ends are common to have problems with on the TBSS's. I have to say that I have a 03 Sierra 1500HD 4x4 with the 6.0L with 112,000 miles on it, and I have had no major issues. I really think it depends on your situation, and vehicle as to the value of the warranty. To someone that doesn't know how to work on a car they are great. To those of us that are somewhat mechanically inclined they aren't as beneficial. I would just read through what all is covered, and what is not. Then way the pros and cons of spending the money for a warranty on a truck that you don't drive all that much. Seems to me in your situation that you wouldn't be getting your money's worth out of either plan.

[Prerunner1982]

PM sent.

[CSGAS]

Having done some work as an auto inspector for the extended warranty companies, I'd offer that many of the companies change hands frequently and find ways out of their claims through the tiniest loopholes in the contracts--even if the loophole was not intended to be a way out according to the intent of the original warranty company and so on. Wynn's used to have the best reputation, but the cheapskate Florida-based company that bought them out has turned most of the former customers into firm testimonials against the company.

Two of the companies I've had consistently good dealings with are GMPP (as named above) and Protective (who also service contracts under other brand names) but what I saw from my perspective may not relate to the consumer. Before my time as an inspector I had what I felt was a good experience from Ford Protection (on a Dodge--they don't have to be the same brand!)...essentially what I'd recommend is look into the company for their time under one ownership and their stability.

[pseudopimp]

my feeling about insurance is this: if you can't afford to fix/replace what you own if/when it breaks, then get the insurance.

if this was your daily driver i might recomend it, but what does a motor or tanny cost? if you can have the money readily available to replace them, i would keep your money and let it work for you instead of them.