GM Volt Forum banner

1 - 14 of 14 Posts

·
Registered
Joined
·
1 Posts
Discussion Starter #1
I’m a new 2015 volt owner. When I bought the vehicle, the dealership was highly recommending an extended warranty package on top of the normal warranties. They quoted $1400 for a 6 year extended warranty. Is a warranty like this worth it? Have you had trouble with your volt where you needed major servicing?
 

·
Registered
Joined
·
3,454 Posts
THe dealer is highly recommending that you buy this because it has a higher profit margin than the new car itself.
I did buy an extended warranty, the GMPP, at 11,900 miles (so it is good out to 111,900 miles) but based on the reliability of volts that regular contributors have experienced here, I don't expect to use it.
I bought this plan through the dealership where I expect to have the car serviced, not through the dealership where I bought the car. you could skip it (certainly wait until the car has 11,000 miles on it) or buy it locally as I did, (to establish an economic relationship with my servicing dealer) or shop it around and buy it from any GM dealer (or GM direct) at the lowest price. (yes, it can be discounted.)

whether or not you buy it depends on your perspective. It provides extended warranty on a very limited set of items (the power train is already out to 100,000 miles, and it does not cover some items which are covered by the 36 month warranty (brakes, suspension parts and more- read the exclusions page thoroughly.) but what it does is limit my out of pocket expense on certain items (radios, displays and similar) during the "boy this car isn't new but sure isn't that old" period when It has 65,000 miles and is 3 years old. Many here have concluded that this is not worth it, I view it as "insurance" of a sort, limiting my potential expense on certain items for a certain length of time.




enjoy your volt, and
Welcome to this forum.

My thoughts for new owners, rambling as they are, can be found in one long post here:
http://gm-volt.com/forum/showthread...Crystal-Red-Volt-Owner!&p=1595858#post1595858
Paul
 

·
Registered
Joined
·
190 Posts
If you negotiate, or call around you can get the 72,000 miles GMPP for around $1100 or so. I have read of people getting it for less than $1000, but could be more difficult. If you get it when new, you pay a lot less than when the car is older. The Volt seems to be quite reliable (says the person who is going to take his two week old Volt in for the second time for repairs this week), but if a screen or computer something goes at 5 or 6 years, you are going to be out of a lot more than $1000
 

·
Registered
Joined
·
562 Posts
If you do get it, I'd suggest you get it a little before 12 months/12k miles... and shop around. Different dealers have different markups.
It'll be a little more expensive than at 0, but that's close to an extra 12 months/12k miles.

Depending on the state you're in, you can also shop online (some of the out-of-state dealers will offer it for much lower). I don't recall if CA is one of the states that restricts it. I don't know how it is that some states can legally restrict that, still in the same country... There's some other threads that cover dealers with better prices.
 

·
Registered
Joined
·
5,188 Posts
The Volt has proven reliable for most owners. However there are examples of a few random failures here & there that would be significantly expensive to repair out of warranty. For example... a few owners have experienced motor bearing failures that required major teardown & rebuild. If that were to happen outside the warranty period it would have cost thousands of dollars in repairs. We have also heard of a few batteries being replaced under warranty. Outside the warranty period that same replacement would likely cost about $3,200 with labor. But these have been rare occurrences. It's largely a calculated gamble that works in favor of the insurance company.
 

·
Registered
Joined
·
165 Posts
I had a VCI module die just outside of warranty and was happy I had the "insurance" of the extended warranty.
 

·
Premium Member
Joined
·
14,156 Posts
Congrats on the car.

It's a personal decision. But if you decide to look into it, take shiranpuri's advice and wait. The extended service contract (it's not a warranty) runs from when you buy it. So if you buy a six year extended service plan when you buy the car it's actually a three year service plan. If you buy right before your one year ownership anniversary it's a four year service plan. Probably at the same price. FYI miles work the same way.

Also take the advice and call around. Any dealer can sell you an extended service contract. If you search you'll find some recommendations.

There are two extended service contracts. The GMPP plans are sold by Ally. Then there are the GM plans sold by GM. AFAIK they are very similar with coverage, so I'd go with the cheaper one.
 

·
Registered
Joined
·
155 Posts
I have a used 2012 Volt. It was a Chevy certified used vehicle. Bought the GMPP (which I found out from here is issued by Ally). I bought the one I could get with the longest time and miles. The math ends up taking me to 97K miles or Sept 2019. I paid $1700 for it. Yeah, I know it was a lot, but I did not pay much for the car, felt like I had a good deal overall, so I bit. Frankly, the dealership was extremely accommodating and so I was not going to argue price. Was less than I thought it would cost anyhow. And I asked - they sold no other plans (GM-issued).

Is is an insurance policy, so it is governed by the state where purchased. Most require the consumer have the ability to cancel at any time. This does, so you can cancel and get your money back on a pro-rata basis (based on odometer and time into the contract).

I purchased for this one reason. I expect to have at least 2 repairs of minor nature that, due to the electronics and computer chips all over the car, will cost and arm and a leg to repair. If I never use it, then I will consider myself lucky and it will be a good outcome financially for GM. Essentially, Peace of Mind for me.

Remember, this is not a car, but essentially a computer that takes you places. It can be very expensive to replace computer parts or to diagnose the problem and then to replace the part.

Enjoy your new Volt.
 

·
Registered
Joined
·
4 Posts
Generally warranties are not worth it. The warranty company is basically an insurance company and has to follow the same rules and laws as insurance does. They spend a lot of time coming up with a formula that bets that you will only use 75 to 90 percent of the policy. Generally they are right, otherwise they would go out of business.

So it comes down to how much is your peace of mind worth?

It also depends on the coverage and cost, etc.

The AM GM warranty is not a bumper to bumper type coverage or exclusionary, which is the best type. It is name stated which is the second best, but a distant second.

From a financial stand point it would best to take the warranty cost and put it in a interest baring savings account and use it if you need and cash it out in X number of years, but most people don't have that kind of discipline.
 

·
Registered
Joined
·
15 Posts
my auto insurance company, actually a broker, Auto Insurance Specialists offers a 100k mile extended warranty for about $800.00. I bought this originally from my dealer at a whopping $2400.00 (financed). When I reported my new vehicle to my insurance company, they asked if I had bought an extended warranty from the dealer. After responding yes, they told me they could offer the same warranty for the $800.00. They also told be that, by law, I had up to 30 days to cancel the coverage from the dealer, so I did. I came out smelling like a rose because the dealer offered me 1.5% finance rate (lowering from 2%) to take the extended warranty. Once I canecelled the warranty, I was locked in with a 1.5% finance rate because once the contract for the vehicle was signed, it couldn't be re-done!.
 

·
Registered
Joined
·
4 Posts
my auto insurance company, actually a broker, Auto Insurance Specialists offers a 100k mile extended warranty for about $800.00. I bought this originally from my dealer at a whopping $2400.00 (financed). When I reported my new vehicle to my insurance company, they asked if I had bought an extended warranty from the dealer. After responding yes, they told me they could offer the same warranty for the $800.00. They also told be that, by law, I had up to 30 days to cancel the coverage from the dealer, so I did. I came out smelling like a rose because the dealer offered me 1.5% finance rate (lowering from 2%) to take the extended warranty. Once I canecelled the warranty, I was locked in with a 1.5% finance rate because once the contract for the vehicle was signed, it couldn't be re-done!.
It really depends on the coverage how you came out smelling. That sounds like Power Train coverage only money.
 

·
Registered
Joined
·
309 Posts
I've never owned a new car that didn't have some type of big failure between the 36 month factory expiration and 72 months. For this reason I always get an extended warranty which always seems to pay for itself and more. Price what a power window costs to repair, you are looking at $1000 min just for that. I agree with the others about the Volt electronics/computers, these are not going to be cheap when they fail.
 

·
Registered
Joined
·
28 Posts
It really depends on the coverage how you came out smelling. That sounds like Power Train coverage only money.
I got the same quote from AIS

here is what covered and excluded

Platinum Protection
����
includes all components listed in Gold, Silver and Copper, plus extended coverage
for virtually all of your vehicle’s mechanical and electrical components*

* COVERAGES AND EXCLUSIONS — Seals and gaskets are included for covered components. For Copper plan, seals and gaskets are covered only in conjunction with a covered repair. Fluids and filters are included in
conjunction with a covered repair. Examples of parts not covered are: Non-Mechanical, Non-Electrical, Non-Pneumatic Or Non-Hydraulic Components; Audio Speakers; Batteries; Water And Wind/Air Leaks; Bumpers; Cables; Chassis;
Clamps; Fasteners; Convertible Tops And Their Mechanisms; Exhaust/EGR System; Air Pump And Catalytic Converter, PCV System; Fuel Vapor Recovery System; Gasoline Fuel Injectors; Glass; Hoses; Lines And Fittings; Mirrors; Manual Clutch
Components; Passenger/Driver Restraint Systems; Seat Components; Secondary Ignition Components; Suspension Springs; Telephones; Torsion Bars; Wheels; Internet Computer; Telematic Services And Devices (I.E., OnStar); Navigation
System; Video Components; Heads-Up Display; Night Vision Systems; Tire Pressure Monitoring Systems; Any Component Not Named In Section II What This Contract Covers. Normal Maintenance And Service Items; Alignments; Adjustments;
Calibrations; Software Updates; Cleaning; Non-Published Diagnostic Labor; Fuses; Lights/Bulbs/Lenses Assemblies; Wear Items; Accessory Drive Belts; Brake Pads/Shoes/Drums/Rotors; Shocks; Struts; Timing Belts; And Wiper Blades. We
may use replacement components of a like kind and quality that may be rebuilt, remanufactured, or used. Refer to the contract for the conditions of coverage, exclusions and your duties during the term of the contract.
 

·
Registered
Joined
·
1,567 Posts
The Volt has proven reliable for most owners. However there are examples of a few random failures here & there that would be significantly expensive to repair out of warranty. For example... a few owners have experienced motor bearing failures that required major teardown & rebuild. If that were to happen outside the warranty period it would have cost thousands of dollars in repairs. We have also heard of a few batteries being replaced under warranty. Outside the warranty period that same replacement would likely cost about $3,200 with labor. But these have been rare occurrences. It's largely a calculated gamble that works in favor of the insurance company.
Just curious - wouldn't the motor bearing and battery be covered under the 8 year/100,000 mile voltec warranty?
 
1 - 14 of 14 Posts
Top