Is your Corvette protected with an extended warranty?
When purchasing a new Corvette, you may be tempted to also purchase an extended warranty. Because many new buyers purchase their Corvettes with the plan to own them long-term, extending the warranty makes a lot of sense if you’re planning on keeping your Corvette longer than the 3-year/36,000 limited warranty that comes on all new Chevrolets. After all, no one wants to be on the hook for mechanical repairs which can run thousands of dollars.
The reason for bringing this up is that we just heard about a price increase across the board on all GM extended warranties. That news comes from the finance director at MacMulkin Corvette. In a post over on the MidEngineCorvetteForum.com, forum admin John wrote the following:
The good person at MacMulkin, their Finance Director Todd Sutherland, just alerted me that effective April 7th GM Platinum Plus extended warranty is going up on all Chevys an average of 30%. It is also going up massively on all other GM products on April 7th.
Buy before then and avoid that increase!
Todd Sutherland = (978) 660-8045 or [email protected]
Thanks Todd for reaching out to me/MECF with the major alert.
We concur with John’s sentiments! Thanks to Todd for giving Corvette owners a heads up prior to the rates going up!
Another good source for GM Extended Warranties is Dennis Fichtner of Laurel Chevrolet. Dennis has been selling these for years at competitive prices and many of you may know him from his days at the Corvette Forum. Dennis can be reached via E-Mail at [email protected].
Your local Chevrolet dealer can also assist with extended warranties, but make sure you reach out to a couple to get the most competitive quote.
Source:
MidEngineCorvetteForum.com
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You might need it with all the DCT problems.
Well a couple of comments. First, does this mean that GM has been spending more on repairs than the premiums cover? Second, these extended warranties have been studied to death over many years by reputable automobile groups with similar conclusions. Finally, see various companies to get the best rate. Huh? Why does the rate vary if these are all well-crushed stats and repair numbers over many years? I know there are a few regional variations, but that factor alone is not much. I personally hate insurance as a life-necessity and that is what this is. Whenever the dealers mention extended warranties, I always ask if I could choose a lower rate for specific coverage – drivetrain, or a specific computer, for example. “No” is all they say. Hmmm….
30%! Now that is what I call a substantial increase. Does this reflect their confidence in their own product?
after i make the deal on a new car i tell the dealer i want the ext warranty at dealer cost or no deal
This article would be more helpful if it had a few specifics. 30% more than how much…? How much does an extended warranty cost?
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