Got a need for opinions

Just got a letter from GM offering their GM Protection Plan. Didn't get one on mine though we did on Bonnie's.

I'm can't decide if its worth it or not.

Its not cheap but it seams to cover all that I'd want short of maintenance and damage.

 

I am unsure of the cost away from the dealer.. but I purchased it.. with this being the 1st model year and basically a new untested engine (there have been "like" engines but from what I have read this is a new design) I felt that these two points alone were worth the cost of the added protection.... I would hate to have the engine or transmission fail at 36500 miles...
--David

 

It is nice in the fact that if something breaks, like a tranny, at 60K then you can go to ANY GM dealer ANYWHERE, and get it repaired as long as you pay your copay. Which depends on which plan you get. Trannies these day run at least 1K for a rebuild. Also, if it is a Goodwrench Service Plus, then there is a lifetime warrany on parts and labor- I have only seen this in reference to alternators, starters, etc. These things are insurance plans on the mechanical and electrical things on your automobile. Usually the dealer gets you up front, so the plan starts that day, overlaping the factory warranty, 3/36000, So you may pay more for the plan if you wait one year.

If you purchase an aftermarket plan, other than Gm/Ford/Chrysler,etc, then the dealer has to go thru them first, which usually takes more time for the repair. I got first hand experience on this one.
This is not the case with the Manufacter Service Plan. Usually they know what is going on, so it gets done ASAP. I believe it is a trust issue.

 

I paid a bit extra on mine so it is zero deductible and included the interior and exterior condition of the car. That makes it all worthwhile to me. I could easily spend more than the $2000 it cost me to buy it in the 6 years that it covers.

 

I'm actually going to cancel mine and get a full refund becuase I'm still in the initial 60 days. Going to go with Warranty Direct and save about 60%. the dealer charged me almost $2000.00 plus about $500.00 in Gap Insurance, what ever the heck that is.

The warranty I got was 6 years 100,000 miles. I can get the same thing from Warranty Direct for about $900. have Warranty Direct coverage on a my Tahoe and so far they've paid over $1000.00 in claims and I still got 13000 miles to go! I can go to any ASA service center or to the Chevy dealership.

I feel as if I got riped off by the finance guy at the dealership, plus I didn't take the time to think through the $$$ while he was giving me my montly payment amounts. I was thinking $35/Mo isn't so bad. OK I'll do it! Well the moment I walked out of the dealership my internal calculator kicked in and 35 X 72 = $2,500.00!!! HELL NO!!! fortunatly when I read the fine print it said I could cancel within 60 day and get a full refund.

That's what I'm doing. For what it's worth.

 

Gap insurance is supposed to make up the difference if you are ever 'upside down' in case of an accident resulting in a 'total' on your vehicle.. Since we paid $10k down, we bypassed the gap.

Personally, it is worth the money for me to be with GM. As Retroburban said above, they will be quicker to handle the problem and there are other benefits as well. And like I said, my zero deductible option makes it worthwhile to me. I don't know if aftermarket plans offer that, and if they do, at what price. I hope I never have to use it. Some will say that makes it wasted money. I call it peace of mind and there is no better spent money in my opinion.

 

Gap is where the vehicle is paid off, in full if it is damaged beyond repair. Saves your A** if your upside down to begin with!

 

The finance guy sorta bypassed the gap on us because of our down payment, saying that we would never be upside down. I assumed it was some sort of trade in thing.. I learned something new myself. I better edit my answer so I don't confuse someone else. Thanks for the right answer.

That makes sense. We bought our oldest daughter a new Saturn back in 2002. She was hit by an Airborne Express truck within 3 weeks. Insurance was about $3000 short of payoff! You know I pitched a fit for weeks to everyone at the insurance company but it didn't do any good.. The worst part is that both cars had Allstate insurance. You'd think they would take care of their own better than that... I no longer carry Allstate Insurance. It may have cost me almost $3k to get her a new car, but it cost them insurance premiums on 7 cars and a house every year. Not to mention all the people I tell how bad Allstate sucks.

 

I see GMPP save people thousands of dollars on a daily basis..........
BUY IT!!!!!!!!!!!!!!!11

 

NEVER, i mean NEVER buy it at their asking price. I have bought a few vehicles and have always had them discount the plan. THE HHR i bought on JUly 4th I wanted the extended warranty. It is 5 yrs. 75,000 miles and covers anything no deduct. They wanted $1299.00 for the warranty and i said WOW, thats seems to high and I jawed back a few times and he said ok I'll sell it to you at my cost $695.00 . (I know thats not his cost but it is a heck of alot cheaper than he started.) SO ask them to sell it to you at their cost since they are already making money on you in the buy.
Hope This Helps.