GM Protection Plan worth it?

[05Gride]

Hey folks,

I recently posted a thread on a new Tahoe vs a used Escalade. Well after tons of thought and after driving the Escalade and a brand new LOADED Tahoe LTZ, I still went with the used escalade. Just a more comfortable budget for my wife and I right now and honestly, even the loaded LTZ had NOTHING on the Escalade, especially from a ride standpoint.

So now I'm trying to work out the logistics of a GMPP with the dealer and wanted inputs. Is it worth it for the extra ~$50 - 70 per month in the financing costs for the plan?

I have 6 months and 10K miles left on the original warranty, and the CPO limited warranty takes it to 2014 and another 60K miles.

So I guess I'm wondering, have people found it to be worth the costs? Does it really add value to the vehicle when I'd be selling the vehicle down the road (say 4 years)??

 

[05Gride]

No one has any thoughts on this plan and whether it's worth it or not? Does that just mean that no one on here purchased the plan because they didn't think it would be worth it?

 

[bowtie_hoe]

I'm assuming that it has a 5 year 100K warranty. Personally I wouldn't purchase a vehicle with 90K, but to each their own. Saying that, if I purchased a used vehicle with approx 35K-50K I would say no on the plan, because parts usually start need replacing around 100K - 120K. IMO, go with the plan, or start a savings account that you put the $50-70/month for future repairs.

 

[05Gride]

I'm assuming that it has a 5 year 100K warranty. Personally I wouldn't purchase a vehicle with 90K, but to each their own. Saying that, if I purchased a used vehicle with approx 35K-50K I would say no on the plan, because parts usually start need replacing around 100K - 120K. IMO, go with the plan, or start a savings account that you put the $50-70/month for future repairs.

Sorry I wasn't clear, the vehicle has 40K total miles on it. I wouldn't buy a truck with 90K miles either! So on the original factory warranty (4yrs, 50K) I have basically 5 months and 10K miles. Then the CPO warranty kicks in (6 yrs, 100K) and that will get me to 2014 (so another 3 years) and an additional 60K miles. I don't have kids either, so I don't really have to worry about a young one shoving quarters in to my DVD drive.

 

[bowtie_hoe]

gotcha. If I was you then, I wouldn't get the extended warranty. I think it's just a cash cow.

 

[05Gride]

The only other thing I'm wondering about it if having the plan (which can be extended once you have it, but can't be added later I don't think) would add to the resale value of the vehicle at a later date...

 

[bowtie_hoe]

Yeah not sure about that. I would think it would be transferrable so long as the loan, or premium is paid in full. If it is, it should add value to the vehicle. The dealer should be able to give you a straight answer.