"Aftermarket" warrantees

**Fastcar** · 08-26-2015, 10:17 AM

I'm going to buy a 2007 Corvette 3LT in a couple of weeks after my mechanic checks it out (still keeping my 'Bird, though!). The dealer is offering a 1 month/3,000 mile warrantee with the purchase but that only covers mechanical and drivetrain problems. My nightmare is if something goes wrong with the electronics/electrical systems. That could become VERY expensive quickly! Does anyone know of 'aftermarket' warrantees that are more useful than being used for toilet paper, and are worth more than the paper they're printed on? Let me know what your experience has been. Thanks!

**pajeff02** · 08-26-2015, 04:48 PM

You will generally spend more on the warranty than the cost of any anticipated repairs. Plus, they love to find a way out of coverage especially if the vehicle has any modifications. I have fought with the warranty companies before for coverage -- including for a site member on here. I vote "no" and recommend that your mechanic checks everything... and I mean everything, over to ensure that it works correctly, looks good, and appears to consistent with the age and mileage of the vehicle. Be sure to get the car in the air on a lift too.

**douglowden116** · 08-26-2015, 05:12 PM

I have had a lot of issues with aftermarket warranties . You are better off putting the money in a savings account to cover unexpected repairs . They always want to find a way out of paying and when they do pay it is at their rate . I would definitely agree with Jeff , stay away from them .

**Whamhammer** · 08-26-2015, 07:01 PM

Originally Posted by douglowden116

I have had a lot of issues with aftermarket warranties . You are better off putting the money in a savings account to cover unexpected repairs . They always want to find a way out of paying and when they do pay it is at their rate . I would definitely agree with Jeff , stay away from them .

I must be the only person in the universe who has had a good experience with extended warranties. I paid $2,400 for the dealer extended warranty 4 yrs 48k miles) in 2007 when I bought my current T/A. I had the rack and pinion, the manual transmission (twice because of the poor job done the first time), rear hub and bearing and the rear rebuilt (misdiagnosis for what was really the hub and bearing) all replaced or repaired under extended warranty. Also got rents cars covered.

What was the best part was that I went back to college during that time and the warranty covered the car when I really neded to be covered.

**35th-ANV-SS** · 08-26-2015, 07:47 PM

OP - it's all about what you feel comfortable with. Odds are you won't use it. More people buy it and never use it than people who don't have it and need it. Kind of like insurance - you pay for it and hope you never need it...but if you do need it, you're glad you have it.

**pajeff02** · 08-27-2015, 02:48 AM

Scott -- any idea what those repair bills totaled out to?

**Whamhammer** · 08-27-2015, 11:33 AM

Originally Posted by pajeff02

Scott -- any idea what those repair bills totaled out to?

They didnt put the price on my invoice, but:

The 1st tranny was a total rebuild, gears, synchros, etc., that has to be worth at least $1,500 on low ball dealer discounted shop/labor costs.

2nd tranny was a tranny shop, 3-4 and 4-5 synchros and bearings. What, $500-ish?

Diff was factory ring and pinion, and related items, $500?

Factory Rack and pinion, $500?

Factory Hub and bearing, $300?

And then the car rentals. 1 week rental each for the tranny work and diff work.

I figure that if I looked at it out of my pocket and going to a dealer at walk-in rate that would be way higher.

**pajeff02** · 08-28-2015, 03:00 AM

Ok - sounds like you did alright then.

For 95% of the people out there an extended warranty is a complete waste of $$.

**chuckie669** · 08-28-2015, 07:28 AM

Here's how I'd look at it. If your going to plan to mod the car during this period, then pass on the warranty.
If your leaving it stock then it may not be a bad consideration. Let's face it tho, not many of us buy cars to not make our own.

My used cars I've never bought aftermarket warranty. I bought one for my wife's escape and it paid for itself four times over when they had to overhaul the trans and has had several coils on the back side of the motor go out.

**bigrondownhiller** · 08-28-2015, 01:58 PM

Another thing to consider is how much you will be driving it. If you are financing, the finance company usually has warranty companies you can choose from.

**Whamhammer** · 08-28-2015, 03:32 PM

Originally Posted by pajeff02

Ok - sounds like you did alright then.

For 95% of the people out there an extended warranty is a complete waste of $$.

It all really depends on the investment cost of the insurance/warranty vs what typically goes wrong with the cars. I bought the car in 07 with 34k on it, so I figured most of what would go wrong hadnt yet. I worked at a Pontiac dealer when these were new cars and I knew that the racks usually went bad at about 40-50k (from what we were replacing at least), and I knew the 7 5/8s rear was there, and that this was my first manual trans car. I figured it was a safe hedge. If it was $3,600, I would have done it.

My wifes new car, we extended the factory bumper to bumper warranty to 8 yrs 100k for 2k, I feel pretty safe on that one too.

**98Hardtop** · 08-29-2015, 05:44 PM

Stick with a name brand company or a factory backed extended warranty company. Those are the ones that will not solicit you unlike those others that are not worth the paper they are printed on. They are reputable. As for value, working in this field, I have seen people break even and some where that warranty paid for itself and then some. Also check to see what clause they have if you never file a claim because some of them you can get a portion of your money back.