2004-2007 Cadillac CTS-V General Discussion Discussion, Warranty Opinions Based on Mileage in Cadillac CTS-V Series Forum - 2004 - 2007; I'm speculating on buying a CTS-V. Most of the V's I've found are in the 30-70k range mileage wise for ...
I'm speculating on buying a CTS-V. Most of the V's I've found are in the 30-70k range mileage wise for an 04-07, obviously 04/05s are towards upper range of 60-70k. I'm not planning on doing any track driving, just spirited runs on the road here and there...mainly just daily driver use around town. Therefore, since I'm not planning on driving it hard very often, would you still get a warranty anyway if it's over XX,XXX miles, or not worry about it? I'd like an 06/07, but my budget is probably <25k and closer to 20. Also, if you do recommend a warranty, how long, in your opinion, should you get one for? I plan on keeping this car 3-5 years max until I hopefully upgrade to a newer one. Thanks for the thoughts.
Warranties come up every so often and the consensus is usually that you will be farther ahead taking the money that you are considering spending on the warranty and set it aside for repairs. Consider how many things would have to break for you to break even on a warranty.
The other downside of warranty companies is that they can be frustrating to deal with. Say you spend $2k on a warranty and then your clutch goes out. You take it to the shop and they inform you that the clutch is considered a wear item and isn't covered.
The hardest part about my plan is having the money sitting there and not spending it.
I am getting a loan on the car, so it would be built in over my payments. I don't even know what type of warranty is offered or how much they cost. Just look on GM website? Also, how exactly do you plan on repairs with this vehicle? Are there common expenses from 30-70k miles? I know it's hard to plan repairs specifically...I think I read one major part was $1600, which people said was cheap for what it does...therefore, if a warranty is 2k over the life of the loan, I would probably just be better off setting 30/month aside for repairs.
EDIT: I also searched the classifieds earlier, and only found one ctsv the year I was looking that wasn't more than a month old I think? Was I looking in the wrong spot?
Well I just figured if a 2k warranty was built into a 5 year loan (not including the interest), that 30/month was in the general area of that. Sounds like a warranty isn't really needed then. Surprising more of these aren't for sale from people upgrading, especially now that they are onto 2 doors.
I disagree with the "save the cash" method -- when a warranty is an option, especially when the car has lower mileage. The OP doesn't want to mod heavy or drive hard, so thats an even better reason.
I agree that on average you wouldn't need it, but the fact remains that some Vs have more issues than others, even when pampered...and repair bills can hurt, not to mention the time, effort, and tools necessary to diy. The roadside assistance and ability you use it at any dealer its good peace of mind on the road. You can always cancel anytime for a prorated refund.
Me? I have bad luck with stuff breaking, and buying an '04 I wanted to make sure I was covered if I started running through diffs. Sure enough, maybe a month after I got it the oil pump went, so while the warranty hasn't paid for itself yet, it's tracking in that direction.
I'd submit that you should definitely be able to find a used V with the GMPP on it. When I was researching buying mine about 9 months ago, everyone I spoke with strongly encouraged getting that warranty. There are various sellers but I was able to get mine at 3 years / 30k for just under $1,400 bucks. I plan on keeping it for as long as I have the car. I see the others' points about saving the cash and if you are the kind of person that can do that, go for it. I can't, and I'd end up spending that money so it is great to pay my fifty dollar co-pay and let them take care of everything else. I've used the warranty once already (mounts) and it was painless (local GM dealer took care of everything).