? on the GM protection Plan

[blue_lightning]

Hi, I have a 2002 Chevy Silverado D/A with only 5000 miles on it and yesterday I received an offer to purchase the GM Protection Plan that covers wear and tear on various parts, depending on which of the three coverage plans you pick. My question is this: Do you think it's worth the money? I am concerned about the high cost of injectors, Allison failures etc. So far I only have a steering rattle and a lopy idle problems. I am told that the plan runs concurrent with the basic warranty so a five year plan only takes me 2 years beyond the basic warranty but covers wear and tear also. A 5 year plan "Major Guard" with 50000 miles would cost me about $1200.00. This seems excessive due to the fact that it only gives me a true 3 years of coverage from today. Your thoughts would be appreciated. Thanks Dave

[OC_DMAX]

You're truck has low miles on it. You already have a 5 yr / 100k engine warranty. So that should cover the injectors, fuel pump, etc. So you are really spending $1200 for the rest of the truck. Really, the only other major item is the Allison, like you indicated. For $1200 and only two additional years of coverage, I think that I would self insure.

It also depends on how long you plan on keeping the truck. You appear to put low miles on each year. I know they have a 7 yr plan also (for different miles). Maybe go with a higher deductible for a longer period of time (for close to the same dollars). That would cover any major bills.

I personally have a 7 yr / 75k warranty from GM. I plan on keeping the truck for 6 years (probably put 60k miles on it). I will have one year left on the warranty when I sell the truck. Since the GM warranties are transferable, its a good selling feature. It comforts the buyer when they get a 1 year warranty on the used vehicle (makes it easier to sell for a higher price).

Just my thoughts,
Alan

[ 08-07-2003, 09:59 AM: Message edited by: OC_DMAX ]

[Trip]

I didn't purchase the extended plan, however, I read of an owner in the Duramax forum say he purchased the plan in a special agreement with his dealer in that if he doesn't use it, the dealer would refund the entire amount. Of course you loose the interest on your money, but it might be an option for you.