Home Forums Hunting & Shooting Hunter's Campfire Extended Warranty for Truck?

I have a 2015 Silverado that is approaching 100k miles. (97k now)

The drive train warranty runs out at 100k.

I've been thinking about buying an extended warranty but have no idea what is out there now days.

Do any of you have one that you like that didn't break the bank at purchase?

I bought one from the dealer ship when I bought my2019 Silverado Duramax. It was $3K total bumper to bumper and I figured the cost of an injector pump would be that,I had put 3 on my old Dodge.The last year I had my 98 Dodge, I put $6k into it.It had 150,000 on it

I used to do inspections for several extended warranty outfits. They were both crooks, and I when I saw how they operated I ignored the assignments they sent me. They also tried to find ways to justify not paying my service bills, so what does that tell you.

LOL...I let six or eight assignments faxed to me just languish in file 13. Several days later both companies were on the phone screaming like welfare mothers who didn't get their EBT cards pumped back up with our tax dollars.

Extended warranties are a big profit item, usually sold by the "finance manager" at dealerships...hard sell...

Do your homework before you get the checkbook out. I've been doing extended warranty claim investigations for the past 12 years, and at least half the companies I deal with have warranty contracts that aren't worth the paper they're written on. Their "adjusters" should be called "claim deniers"- - - - -a bunch of sneaky weasels so lowdown they could walk under a snake's belly while wearing a stovepipe hat!
Jerry

Tread very carefully. The warranty company will deny your claim for the flimsiest of reasons. I've heard stories of claims being denied because the vehicle owner changed his own oil or used tires that were of a slightly different size than recommended. If your wife doesn't obey a warning light and the engine seizes you're out of luck. Question them hard and read the exclusions. Personally I wouldn't pay $2,000 for what might amount to $5,000 in coverage. That is $5,000 you will probably have hell collecting. Ask them if they guarantee disputes can be handled in your local court. You'll find the answer is no.

My neighbor had a Dodge truck under warranty and they refused to honor his injector pump failure. They claimed it was his fault.

Just put the money in the bank.
5k in the bank goes a long way. If the repairs cost more than that junk the truck for what you can get and take that and the 5k and buy another truck.
It's a Chevy, parts are cheap. You can get motors and trannys anywhere cheap.
I own a shop and can tell you that they are rip offs.

Clark Howard and Dave Ramsey both advise against extended warranties.

What's with Dodge injectors anyway? I just dropped $4K out of pocket on my 2005 Ram 3500 at 97K miles with Cummins diesel.... injectors, sleeves, head gaskets.

The warranty divisions of the makers are the most profitable division of the companies.

I do not buy extended warranty. I will take the gamble for the long term costs and returns.

But Clark and Dave can afford to fix anything that breaks on their car, lot's of folks can't. I wouldn't buy an over the counter warranty on a 100k rig, but buying one out of the gate makes sense depending on your personal finances. You don't have to buy it from the selling dealer either if your rig is still under factory warranty. Lots of dealers will sell them for just over cost to steal the business, all you have to do is make a phonecall. Do the research on the company and if it stinks, don't buy it. In the end if you keep your rig a long time you're gonna pay, one way or the other.

Find an investment that pays a decent rate of return and stash a few bucks a month into it while the vehicle is under the factory warranty. By the time the factory coverage runs out, you'll either have enough put back to cover any reasonable repair costs, or enough to use as a really good down payment on another new vehicle. Most people don't have the self control to do that, but they're glad to pay somebody else an outrageous amount to take the risk. Either that, or they're in way over their heads on the initial car payment and can't afford to save for an emergency. Either way, they're on a fool's errand, buying an extended warranty.
Jerry

Don't.....your truck is good for another 100K miles.....extended warrantees are not a good investment

You got off cheap

If the financial advantage of an extended warrantee went to the purchaser, they wouldn't sell extended warantee plain and simple. But if you get a feel good out of having the protection of not having to pay for certain potential break downs and have no problem paying more for that than actual repairs go for it. Sure there'll be guys that destroy a tranny and benefit financially from the X warrantee but that situation will be by far the minority. Basically its insurance set up by loan sharks.

[quote=jeffbird]Buying insurance of any kind is to cover expenses one could not otherwise afford to cover on their own, especially major losses.

Heavy duty diesel trucks used hard might be the one and only place to even consider an extended warranty as turbos and injectors can be very expensive. Even then only buy ones from the manufacturer sold through dealer where you will have it serviced. They always manage to figure out how to get themselves paid. /quote]

That is what I figured .Even if I only use it once for one repair it pays for itself .Repairs on these big heavy duty pickups can run up to $15K real fast

From what I’ve read and heard, they are a major rip off.
I’d put $100 or two or in saving a month and use that in the event of a major repair.

In 2014 I bought a 2012 F350 diesel with 38k on it. I bought the extended warranty thru Ford. I think it’s callled Premium Care. $100 deductible bumper to bumper thru 100k. Around 55k they replaced the manifold and EGR cooler. 60k new TPMS sensor. At 90k they replaced the primary radiator and flushed the coolant system and replaced with new stuff.

$300 total deductible paid.
$3k for the warranty (if I remember correctly)

Dealer invoice cost:
Manifold and EGR $4500
TPMS $108
Radiator $1600
Flush and fluid $600

I still have 5k and 8 months on the warranty. Hopefully the transmission goes and engine blows in the next couple months so I can get a replacement

Yes! Clark Howard is the biggest nerd on the radio but he has a lot more money than I do. He is damn smart.
He said that, for every $1,000 spent on warranty payments, these companies shell out $94 in claims paid out. They have to make a profit, a big profit, or they would not be in business. Clark says the same for extended warranties on new appliances, computers etc.

Extended warranties are 95% profit for the insurer. I have a friend that managed the service department at a large dealership. The guy at the dealership that sold the extended warranty packages made over $200,000 per year in commissions if that tells you anything.

If you are going to buy an extended warranty I would only buy a manufacture backed product , not some aftermarket BS. In addition there are many dealers that sell the extended warranty’s online that will be half as much as the dealership finance officer tries to sell you one for and will be the exact same product. There’s a ton of profit for the finance officer in these extended warranties!