2008-2013 Cadillac CTS General Discussion Discussion, Advantages of buying GMPP early in your car's life in Cadillac CTS Second Generation Forum - 2008-2013; I am closing in on my car's one year anniversary. I bought it in Jan '11 and by the one ...
Advantages of buying GMPP early in your car's life
I am closing in on my car's one year anniversary. I bought it in Jan '11 and by the one year mark I should have about 6,700 miles. I expect my usage to stay around that level. My plan is to drive it for seven more years (around 54K miles) and give it to my son as his 1st car. My question is is there a benefit cost wise to buying an extended warranty now and will they offer a plan that is long term enough to be a benefit to me?
I'd love to hear from anyone who has experience with these plans. Also, I've read online that the cost can vary quite a bit from dealer to dealer. If anyone has experience with that that would be helpful as well. I live in NY but is there any difference if I buy the plan from a dealer in lets say MN or WY?
Automobile(s): '08 CTS 3.6L DI RWD, new engine Nov '13 @ 44Kmi.
Re: Advantages of buying GMPP early in your car's life
When you purchase GMMP prior to expiration of mfr’s warranties, GMAC begins earning your premium before assuming any liability - a very sweet deal for GMAC. So, in return, GMAC offers coverage at a discounted pro rata refundable price.
For best deal, purchase GMMP just prior to price breakpoints at 12Kmi, 24Kmi, 36Kmi. I saved by purchasing Major Guard about 10 months before bumper-to-bumper warranty expiration, with 23,991 miles on odometer; at 24,000 miles, the same effective coverage would have cost an additional +17.5% or +$320.