Good news for all the General Motors (GM) enthusiasts out there: GM is now offering the industry's first true bumper-to-bumper extended warranty. This offer is available now on all new 2018 and 2019 Chevrolet, GMC, Buick, and Cadillac vehicles.
The Perks of GM's New Extended Warranty
The new extended bumper-to-bumper warranty is designed to match the coverage provided by GM's current powertrain warranty. This new optional coverage adds a two-year extension to all GM makes, plus 20,000 additional miles for Cadillac and Buick, and 24,000 additional miles to its Chevrolet and GMC coverage. All makes can still be purchased with their standard three years or 36,000 miles (Chevy, GMC), or four years or 50,000 (Buick, Cadillac) miles bumper-to-bumper warranty coverage.
The offer could easily be included in either a lease or car loan, because the warranty can be included in the overall vehicle cost.
"People who lease typically keep the vehicle for 24-36 months, so most of them are always covered by the base bumper-to-bumper limited warranty," said Ken Mac, director of Chevrolet, Buick, GMC, Cadillac Protection. "But if you buy, analysts say you'll likely keep your new vehicle for over six years. This true extended warranty can keep the average customer covered for most, if not all, of the time they own their vehicle."
This warranty isn't to be confused with a dealer service contract. With GM’s extended warranty, there's no need for a claim to be filed, and repairs can be completed at any Chevrolet, Buick, GMC, or Cadillac dealership across the country, no questions asked and no deductible needed. Additionally, coverage stays with the car, so there's no need to transfer coverage in the event of a sale.
Because the extended warranties are optional, prices can be set by the dealer, but there's a recommended price range between $1,000 and $2,000, depending on model, suggested by GM.
Car Care Council Wants You to Know Your Rights
Often, consumers are confused about what they can and can’t do maintenance-wise when their vehicle is under a manufacturer-backed warranty. Many people operate under the assumption that repairs can only be done through the selling dealership’s service department. Recently, the Car Care Council, along with AutoNetTV Media put out a new video talking about consumers' rights associated with vehicle warranties, which addresses this misconception.
"It's a common misconception that only car dealers can perform the routine maintenance and repairs on a newer vehicle that is under warranty," said Rich White, executive director of Car Care Council. "This new video outlines the truth about vehicle warranties and...[who can] do the work...without affecting the warranty."
Beyond New Car Extended Warranties
Dealership service contracts and manufacturer-backed extended warranties can be a great benefit to car buyers, especially those who don't plan on trading in or selling their vehicles after just a few years. These policies cover service and repairs that happen after your new car warranty runs out. Typically, you can purchase a service contract at any time, but if you wait until the manufacturer warranty expires on a new vehicle, expect to pay more.
Just how much you can save on repairs depends upon your coverage and the company issuing it. Some companies allow you to file a claim and then pay the repair shop directly, while others require you to pay out of pocket and wait for a reimbursement.
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