Extended Warranty

[lespoole 4]

I'm about a week away from the end of my 3 yr. bumper to bumper, the car has been relatively trouble free, although I am only at 14,000 mi. I am looking at the GM extended warranty for an extra 3 yr. bumper to bumper, and a two year extension on the drive train at a cost of roughly $1,000. My one problem, is the resale value of these cars are dropping like a lead balloon. Any thoughts, suggestions, etc.?

[sparkfanatic 70]

Gm sent me the option for extended warranty just before 36K . I was only interested in a long term warranty otherwise it want worth it to me . The power train is covered for 5/100 anyway . The plan I looked at was an additional 60/75 Major Guard with 0 deductible for $2115 plus tax . The next day or so the dealer emailed me about a 20% off warranty special . Again dealer incompetence . I called and they asked if I bought my car from them lol , then they couldn't seem to find my info that should be accessed easily with just my phone number . They never emailed me the info so after thinking more about I decided to forget it . If the car starts having any expensive issues then I would just sell it . My dealer solicited me with the offer and then doesn't even know who I am makes me really consider brands .

[sparkfanatic 70]

One other thing was the resale value you mentioned . That was one of the key reasons I considered protecting the car with extra warranty . Figured it wasn't worth much to trade in and I love the car itself so why not keep it long term and protect it for the next 5 or 6 years . Of course that's off the table now because of the dealer . The 20% off would have been a significant savings on the warranty I considered .

[WaltK 305]

One other thing was the resale value you mentioned . That was one of the key reasons I considered protecting the car with extra warranty . Figured it wasn't worth much to trade in and I love the car itself so why not keep it long term and protect it for the next 5 or 6 years . Of course that's off the table now because of the dealer . The 20% off would have been a significant savings on the warranty I considered .

I received an extra warranty protection plan from GM, which I am considering, major guard, 4yr./60k mi. for a little under $1k. I don't see myself going beyond another 3 yrs. with the Spark. I still like the little guy, but the book value is zip. It would be too big a hit to trade it in, so I will at least have peace of mind driving it for another couple of years. I also like the fact that the warranty is transferable, should you decide to make a move.

[sparkfanatic 70]

Walt, how many miles on your a spark ? The 48/60 major guard with 0 deductible was $1760 plus $111 in tax for my Spark . This was through the GMPP link they sent me . The dealer was offering Both GMPP and a third party warranty . I was only interested in the GMPP though .

[WaltK 305]

My Spark only has 12K on the clock. Sorry for the misquote, I just went back to my saved page, I chose 4yrs. 32,000 miles, major guard, 0 deductible. Direct mailing from GMPP, no dealer, of third parties involved.

This is a paste from the page....

Total Plan Price is $963.00 ($900.00 + $63.00 Tax)

Coverage expires 12/13/2019 or 44000 miles, whichever comes first.

There is no way this car will see 44,000 miles, in the next three years, so for my purposes, this will work. This price is only good while the car still is covered by the bumper to bumper, which is only three weeks off. So I will have to move soon.

[sparkfanatic 70]

I'm past the eligible mileage for the warranty now so I'm on my own . I don't usually keep cars more than a couple years but the low trade value is an issue . I like the car but then again I'm not sure I want to go to this dealer the next 5 years either . I don't see getting my money back on a $2200 warranty but may have considered if the dealer got back to me with the 20% off deal .

[Skids 108]

I'm a strong supporter and purchase the gmpp extended warranty have I've got it on every one of my cars. DO NOT buy a third party warranty. Go with GMPP major guard it is worth every cent!!! Takes care of everything but wear maintenance items honored at every GM dealership. Do your maintenance like you're supposed to according to the book and you'll never have an issue with a claim. as far as kbb value dropping, its like every other car at the end of 6 years paying it off it's worth about half what you bought it for. the warranty is transferable to the new owner so it will ad some value it sale if you sell it used private party, dealership may give you a little extra for it because they can sell it for more, but they're going to rip you off in the trade in any so.. For me I don't want to still be making payment on a car and have to pay for the repairs too, It's awesome when you add it in to your finance deal and you just add it to your payments especially if you're financing at 0% .. There's also a number of plans to choose from, some with more miles, some with more time if you drive less get a longer time (its which ever comes first) If you drive a lot go with more miles. Also there's different deductibles you can get the higher the deductible the lower the plan cost. 0 or $50 are always good.. free car wash and rental plus everything is taken for $50 worth it.

[WaltK 305]

kbb value dropping, its like every other car at the end of 6 years paying it off it's worth about half what you bought it for.

I paid cash for the car, three years ago, and it is currently listed on kbb for 1/2 of what I paid for it. Dropped like a brick!

[sparkfanatic 70]

There's a Chevy dealer that keeps offering trade deals . Awhile back is was $9200. Now it's $8500 something . So about half what I paid . By Summer which is when I might start looking at cars , who knows what value will be . When it starts getting too low then it's worth keeping for the long term dollar wise . Like Walt I also bought my Spark outright . I declined the Extended warranty at that time . Even though it's more costly to wait you end up with longer coverage by waiting till just before the bumper to bumper expires . It's still 0 % interest charged over 18 months with a couple hundred dollars up front . These are high tech cars and something like a Mylink failure might cost $1200 . Even common repairs are costly . That said , I haven't owned any car that needed repairs that would make a extended warranty pay off , even on a couple 20 year old cars I have . It's definitely a gamble and depends on a persons comfort zone and I can certainly understand having it while making payments on a car . Pros and cons galore . One thing I don't like is if you cancel later on , then you have to go back to a dealer and have them verify your mileage for your prorated refund , not sure how it works if your car gets totaled as far as verification .

[WaltK 305]

Funny thing, the trade values on a 2013 changed last night, I live right on the Jersey side of the GWB, a few miles out of NYC, In my neighborhood the current value of my showroom condition, 2013 2LT, with an auto transmission, and 12k miles is, $7482, from KBB, Edmonds is a bit kinder at $7717. I generally don't keep a car longer than three years, and this is what got me poking around. There is no way in hell, I would give it to a dealer at that price! As Sparkfanatic noted, simple repairs today, on these cars, are off the charts, so I will pay the $963, for the peace of mind, and hang on to the Spark, which, by the way, is a great little car.

[lespoole 4]

I'm about a week away from the end of my 3 yr. bumper to bumper, the car has been relatively trouble free, although I am only at 14,000 mi. I am looking at the GM extended warranty for an extra 3 yr. bumper to bumper, and a two year extension on the drive train at a cost of roughly $1,000. My one problem, is the resale value of these cars are dropping like a lead balloon. Any thoughts, suggestions, etc.?

Questions answered. Spark is getting health insurance.

[sparkfanatic 70]

We should have a thread with owners current miles and specific repairs and when the failure occurred . It would be valuable to those considering an extended warranty .

[psquare75 35]

Father has a spark with 70K on it. No issues.

My wife's is at 41K. Been fine as well.

[Retired old Gearhead 201]

Our Pizza guy has a 2013 Spark LT1 auto 4 speed and now has 114,000 miles on his Spark. Asked him if he has had any issues. Tires, brakes & wheel bearings on 2 front replaced and that is it!

He's been using synthetic oil and only goes in for a change on the DIC 82 code (around 7,500mi). Still gets good gas mileage, same pep as always and starts with a flick of the key. He drives it hard while rushing around and is very pleased with the reliability of his Spark. I have close to 70Kmi and other than brakes and tires..still runs like new. I really drive the crap out of it..hi rpms when booting to downshift (2013-LT1-4sp Auto tranny). Now using Synthetic oil and change at 10% life left. This is much better reliability than expected when I bought the car. Still runs like new with no degradation in performance and honestly does not seem to burn any oil between changes of usually around 6Kmi.

Because of the poor quality control at the plant, some units were properly built others not so much and still others a complete disaster. Personally, I think that if you have 30Kmi or more trouble free..spending $1,000 on extended warranty is, well, money that can be better spent as the resale is not much and a slightly used same year model eg.2015 can be quite inexpensive.

To all forum members, have a very Merry Christmas, a happy, healthy 2016 and trouble free motoring...Nuff said. Right?

[sparkfanatic 70]

ROG , I was hoping you would post . I was thinking about how you mentioned in the past how hard you drive the Spark and you have more miles than most . I was pricing parts and something like an A\C compressor retails for $400 and can be bought online for just $200 . Motor and trans are also very inexpensive . The electrical components would be costly with labor . All the basic parts I look at are inexpensive compared to other cars , labor is another story . I've never had a car that would have needed repairs that made a extended warranty pay off . The GMPP while being the most reliable plan IMO is still a third party warranty and nothing to do with GM other than rights to the name . For the warranty to have been worth it to me , I would have needed 60-72 month and that's over $2300 and only took me to 110K miles . I still have 3 years left on the powertrain warranty also. I think the odds are greatly in our favor but of course a major failure and the warranty pays for itself .

[robertlane 18]

I like long term warranties - you might want to considering seeing which dealers offer the best price because they can offer you a discount.

[Retired old Gearhead 201]

OK, first off..I think an extended warranty on a $12K Spark is a total waste of money. I have a lot of confidence in the reliability of the Spark 1.2 engine and know one Pizza guy with a 2013/auto with 114,000 mi and no issues. I had an oil change done recently at my local mechanic shop where I have been taking my vehicles and Marine engines since 1984. They are now using a Japanese made synthetic brand name "Eneos"..a high performance product a bit on the pricey side. Some time ago my limiter was adjusted upward to cut at the red line only. I now have about 70Kmi & decided to really put the drive train to the test (again) on a trip to visit the kids near St.Petes Fl..took the 'Alligator Alley" strait road that's rarely speed enforced at a certain 50mi stretch. I drove a steady 108mph just below the redline on the 2013/Auto for 50mi...that's a tough thing to do to the engine and entire drive train..lots of heat generated on all the parts with the outdoor temp being around 80°F. Stopped to fill up and opened the hood with the engine running...smooth and quiet..this is not the first time I have made very fast runs for extended times and never an issue and the oil is always still at the full mark after about 6-7Kmi...so..extended warranty on the drive train is not cost effective and in my opinion a total waste of money on a low cost lower resale value car..maybe a bumper to bumper extended warranty for not more than $300 might be worthwhile..but if I have had no issues with the way I drive at 70Kmi and the Pizza guy with 114Kmi has no issues..then, well, you get my drift?

BTW: We have a half year old Range Rover Sport with a big, 502HP V8..very quiet, comfy and fast enough but quite honestly this little $12K 2013 Spark is way more fun to drive and out-handles the $$$ Rover in the crazy Miami/Miami Beach traffic and narrow MB roads..we squeeze into spots that are impossible for the Rover and most other cars and can make a U turn in my own friggen driveway...so, OK, Nuff said..Right?

Hope you all have a great and healthy 2016 and do not drive the way I do as that will reduce your chances of a happy/healthy 2016..

[lespoole 4]

OK, first off..I think an extended warranty on a $12K Spark is a total waste of money. I have a lot of confidence in the reliability of the Spark 1.2 engine and know one Pizza guy with a 2013/auto with 114,000 mi and no issues. I had an oil change done recently at my local mechanic shop where I have been taking my vehicles and Marine engines since 1984. They are now using a Japanese made synthetic brand name "Eneos"..a high performance product a bit on the pricey side. Some time ago my limiter was adjusted upward to cut at the red line only. I now have about 70Kmi & decided to really put the drive train to the test (again) on a trip to visit the kids near St.Petes Fl..took the 'Alligator Alley" strait road that's rarely speed enforced at a certain 50mi stretch. I drove a steady 108mph just below the redline on the 2013/Auto for 50mi...that's a tough thing to do to the engine and entire drive train..lots of heat generated on all the parts with the outdoor temp being around 80°F. Stopped to fill up and opened the hood with the engine running...smooth and quiet..this is not the first time I have made very fast runs for extended times and never an issue and the oil is always still at the full mark after about 6-7Kmi...so..extended warranty on the drive train is not cost effective and in my opinion a total waste of money on a low cost lower resale value car..maybe a bumper to bumper extended warranty for not more than $300 might be worthwhile..but if I have had no issues with the way I drive at 70Kmi and the Pizza guy with 114Kmi has no issues..then, well, you get my drift?

Having another two years on the powertain 5/100,000 warranty, I am not too concerned with extending the mechanical end of the warranty, it is all the electronics in this car that is worrisome. Especially the 2LT which is loaded with gadgets. Current book is roughly 8K, but over the next few years, a couple of electronic problems, can cost a fortune. If you read what's covered under the p/w warranty, there are quite a few sensors, that would affect the way the car runs, that are also not covered. With luck, there may be no problems, on the flip side, you can run through quite a few bucks, should problems arise. With a 1K investment, I have a low mileage car with a new car warranty, I really consider this a good deal.

[Retired old Gearhead 201]

Having another two years on the powertain 5/100,000 warranty, I am not too concerned with extending the mechanical end of the warranty, it is all the electronics in this car that is worrisome. Especially the 2LT which is loaded with gadgets. Current book is roughly 8K, but over the next few years, a couple of electronic problems, can cost a fortune. If you read what's covered under the p/w warranty, there are quite a few sensors, that would affect the way the car runs, that are also not covered. With luck, there may be no problems, on the flip side, you can run through quite a few bucks, should problems arise. With a 1K investment, I have a low mileage car with a new car warranty, I really consider this a good deal.

Before you spend that $1K consider that the official GM wording regarding the powertrain warranty indicates that only mechanical parts lubricated by oil consisting of the engine, valve train, transmission, transfer case and timing chain are covered. Electric components including sensors, PCV valve, throttle body, injectors etc are not covered under the powertrain warranty. I think that if you want to get an extended warranty, you might consider is an extended bumper to bumper. The external electronic sensors are not all that expensive as they are simply swapped out with a new part. It might be a good idea to read the fine print before you buy an extended warranty of any kind.

FYI: We have a 6.5L Peninsular turbo marine engine in my boat that is also full of electronic sensors. At one time we had some engine compartment salt water flooding during a storm while docked at home (sheltered cove with 'sea wall'). After the 'dry-out & venting process..many of the electronics and engine control sensors totally failed and some even shorted out. Engine was under warranty but electronics/sensors not..I was surprised how little the replacement parts cost..mind you the onsite labor to some of the the electrical work was costly. Because the engine would simply not run with the damaged sensors there was no damage to the actual engine other than some disassembly required due to the salt water that entered thru the intake...so, what I am trying to convey is that a failed sensor on the Spark would probably not damage the mechanical parts since you would either get a warning light, car sent into 'low power' mode or not start at all. A mechanic explained to me that even the Spark and most other vehicle's engine/tranny sensors have built in failure warning chips or sub-modules that will alert/shutdown the engine before any component damage can occur in almost all cases....OK..I know I ramble on a bit, but I think I prefer to give the poster enough info to make an informed decision..Nuff said on that...

[lespoole 4]

I totally understand what you are saying, but my concern is extending the bumper to bumper. When I speak of electronics, I am thinking of the Mylink, power windows, cruise control, power door locks, heated seats, etc. Then we have the a/c, wiper motors, the DIC, and a myriad of problems that can go wrong, and squeeze the wallet until it cries. The factory power train warranty is very basic coverage, and the extended warranty greatly enhances that also. In all my years of driving, I have never even considered extended warranties, but when I see signs hanging in the repair bays, "Labor Rates $105 an hr., it gets you to thinking. It's all a gamble, you could throw away $1K, and never use a dime of it, or you can hit a complex problem, that can go way beyond 1K. Maybe you win, or maybe you lose, but at $350 a year, you can sleep at night. Just my take on it. Really do appreciate your input.

[Retired old Gearhead 201]

Yup Lespoole..Bumper to bumper extended for $350 is a total good idea...I thought you were talking about the powertrain extended..and you are right..if something is gonna go, it's the electronics.

[sparkfanatic 70]

GMPP issued by Ally apparently loses its rights to the GM name and access to the GM computer data base in 2016 . It will be more difficult for claims I would imagine as they have no access to repair history ect . GM has slowing been integrating its own GM owned warranty plan .