Where to buy an extended Warranty?

[Cyros2]

Hello everyone,

I just bought my first ever Cadillac and I love it so far. (2007 Escalade ESV 6.2L) I did a few searches and looked around but I didn't find any topics that covered buying an extended warranty, especially from a source other than GM. I do not have the tools, inclination or experience to repair my own vehicles, but I do have a very good and trust-worthy mechanic. That being said, it has so many luxury bells and whistles I know it will be much more prone to small failures than my Honda or Subaru have been. I also want to keep this rig in the best possible shape, so if anything breaks I would like it fixed promptly regardless of cost.

That being said, here are my questions.

1. Do you recommend extended warranties? (If no, please describe briefly why not.)

2. Does anyone have a list of companies that offer extended warranties?

3. Is there a known company that offers the best type of coverage vs. cost? (I.E. Is there a company that is recommended?)

Thank you for your time; I look forward to spending more time on this board as my time allows.

Joshua

[Cadillac Jim]

I personally don't recommend extended warranties. The logic is simple: it's an insurance policy, just like householder, automobile liability and collision/comprehensive, fire, and life insurance. You pay a monthly premium for the benefit of limiting your loss or receiving a case award in the event of a calamity of some sort. Thus you pay for the privilege of avoiding a cash hit in case of a fire or accident, or your wife or kids get the life insurance and can still live in the house or go to college if you get wiped out. You are a good investment for the insurance companies, returning something like 12% on investment depending on the times and the type of insurance and other factors (see "actuarial science" for more information on the insurance industry). So, if you can afford the loss, why pay the premium?

Another simple fact is that extended warranties rarely come into play. Automotive warranties cover 50,000 to 100,000 miles depending on the manufacturer, the year, and whether its the drive train or the electric windows, and six to ten years. The extended warranties tend to cover the gap to 100,000 miles for the powertrain. In my observation, cars fall mostly into two groups: those that aren't maintained at all and have problems in the 50,000 miles range, and those that are well-maintained and rarely have major problems until well past the 100,000 mile mark. You aren't going to be able to get an extended warranty on an ill-maintained car, and neglect will void any warranty anyway. You are buying protection for the smooth-sailing period of ownership, where it's needed least.

If you are really interested, I did a web search on "automobile extended warranty" on dogpile and turned up pages of offerings. The fact that such a feeding frenzy exists out there tells me that there is money to be made from people like you who feel that they do need an extended warranty.

[Bruce Nunnally]

I prefer my daily driver Cadillac to be under warranty so if there is an issue I can drop it off at the Dealer and get a loaner and continue to my appointments. I only get the GM extended warranty, and usually get it for the years/mileage I plan to drive the car. Check Google for GMPP Major Guard. I got extended coverage on my CTS from Martin K Brown Cadillac in San Diego, so you don't have to buy from the local dealer although that is kind of what they prefer.

[Texas Jim]

I also have the GMPP warranty.

My local dealer matched the best internet price I could find online.

[Cadillac Jim]

I got the GMPP warranty when I bought the car. I never collected a nickel from it. It's a good thing that I didn't need it, because the dealer in L.A. got it out of the glove compartment to check on something and didn't return it before I moved to the East coast in 2000.

[Cyros2]

Thank you all for your prompt replies. I am more concerned about the smaller items; such as heated seats, CD changer, mirror motors, etc... than I am with power train. I have been told those items can be quite expensive to fix, even though they often do not impact the actual driving. It is also my daily driver, so just like Bruce I prefer to be able to drop it off and be about my business.

Thank you very much for your feedback.

Texas Jim, if my local dealer won't honor the Internet price do you think I would have much luck if I called your dealer? That sounds like the best way to go.

[Texas Jim]

Thank you all for your prompt replies. I am more concerned about the smaller items; such as heated seats, CD changer, mirror motors, etc... than I am with power train. I have been told those items can be quite expensive to fix, even though they often do not impact the actual driving. It is also my daily driver, so just like Bruce I prefer to be able to drop it off and be about my business.

Thank you very much for your feedback.

Texas Jim, if my local dealer won't honor the Internet price do you think I would have much luck if I called your dealer? That sounds like the best way to go.

Of course, I can't speak for them..but...I am pretty sure they would do the same for you as they did for me.

Frank Kent Cadillac.

817.989.4400

I just called Danny... (the finance manager)...and left him a voice mail.

He is probably at lunch right now.

I am waiting on a call back from him.

I will post as soon as I hear from him.

[airmike]

Hello everyone,

I just bought my first ever Cadillac and I love it so far. (2007 Escalade ESV 6.2L) I did a few searches and looked around but I didn't find any topics that covered buying an extended warranty, especially from a source other than GM. I do not have the tools, inclination or experience to repair my own vehicles, but I do have a very good and trust-worthy mechanic. That being said, it has so many luxury bells and whistles I know it will be much more prone to small failures than my Honda or Subaru have been. I also want to keep this rig in the best possible shape, so if anything breaks I would like it fixed promptly regardless of cost.

That being said, here are my questions.

1. Do you recommend extended warranties? (If no, please describe briefly why not.)

2. Does anyone have a list of companies that offer extended warranties?

3. Is there a known company that offers the best type of coverage vs. cost? (I.E. Is there a company that is recommended?)

Thank you for your time; I look forward to spending more time on this board as my time allows.

Joshua

Joshua try this site for some info http://www.carbuying...m/warranty.htm. I did buy an extended warranty for my daughters car when she went off to college, peace of mind for me. She used it twice which did not repay for the original cost. I didn't buy for my 2000 trans am or my 99 sts but I did for my xlr-v. The cost of anything on it is astronomical. The peace of mind for sending my daughter 3 states away to school was worth it. I feel I could deal with my own problems, but we all know a young female is a target. Mike

[Cyros2]

Thank you all for the information! I haven't decided what to do yet, but the information was quite helpful.

Joshua

[BUICK11]

Do a search on Black Cadillac in Pennsylvanin. You can get a quote on line for GMPP Major Guard with No sales tax. Alan Black helped me extend my 1999 STS until 2008 when we traded it. We received a refund for unused portion of the warranty. He is a good guy to work with and has a nice web site where you can get a instant quote.

Good Luck