Extended Warranty Timing and Pricing

[RickLightning]

I was looking at this the other day and wondering the same question. Should you wait to buy it until after the 3/36 runs out or not. If I understand it right when you buy it before the warranty expires, you're adding time from the in-service date of the vehicle, but if you buy it during the grace period after the 3-year 36,000 mile warranty runs out, you're just buying time from that day forward. The question is is if the cost goes up significantly during that grace time period or not? If it doesn't then it seems like it would be worth waiting because you'll be effectively purchasing 10 years of warranty from that time onward instead of the original in service date. So you could maximize coverage if you can project yearly mileage and not pay for years or miles you won't use.

Hopefully someone has done what I'm saying and can speak to their experience with it.

Your understanding is not correct. The extended warranty, no matter when you buy it, goes from the day the vehicle was put into service. A 5 year extended warranty is 2 additional years. An 8 year extended warranty is 5 additional years. Of course the miles can be used up faster than the years.

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[topher10]

Thanks for the replies. It sounds like the price will increase slightly over time, but not meaningfully and not steadily. I was worried that it might increase monthly or based on mileage, but that doesn't seem to be how it works.

Based on other comments about warranty length: I do not think the day you purchase the warranty impacts its length. A 10-year/100K warranty will expire 10 years from the vehicle delivery date, no matter if you purchase the warranty the day you purchase the vehicle or 36 months after. The language in the post above is consistent with this interpretation: "Years from the day the vehicle was originally sold"

 

[broncoaz]

My buddy ended up buying a warranty from GMC that started at the time/mileage of warranty purchase. He intended to buy out to 5 years 60K miles and ended up with out to 7.5 years and 87K miles. I wasn’t there and haven’t seen the paperwork, but he’s a sharp guy.

 

[Steely]

Based on other comments about warranty length: I do not think the day you purchase the warranty impacts its length. A 10-year/100K warranty will expire 10 years from the vehicle delivery date, no matter if you purchase the warranty the day you purchase the vehicle or 36 months after. The language in the post above is consistent with this interpretation: "Years from the day the vehicle was originally sold"

Read the quote from the FAQ in post 14 it says the years and mileage are additive if you wait till the warranty expires vs being double covered if you buy it early.

Seems to be correct for GMC in post 18. Maybe the FAQ is wrong.

I think I'm gonna wait for the grace period and buy as much as I can based on milage projections to maximize time coverage. I'm only averaging 5k miles a year so far.

Unless everyone says my reading comprehension sucks and I'm wrong about the FAQ.

 

[Webbo85]

Screen shot from Grainger's FAQ. I've never heard of it working that way but if that's the case, it appears to be a much better deal to wait.

 

[topher10]

Yea, I think we might be talking past each other. The granger site seems pretty clear. If you buy within the original warranty (3yr/36K), the warranty clock starts at vehicle delivery no matter when you purchase the extended warranty. This is what I was planning to do. I was only worried about the price being higher 3 yrs later.

If you wait and purchase after the factory warranty expires (3yrs), the warranty clock starts from the date you purchase the warranty.

I would assume the costs would be roughly equivalent if one compares based on the end of the warranty (age/mileage). I doubt you get 2 or 3 extra years for no additional cost by purchasing after the factory warranty expires. We could possibly compare on the Granger site, but perhaps not with Lightning because they aren't old enough. For instance, the cost for a 10/100 warranty for a 2022 F150 XLT with 20,000 miles (In warranty) vs 7/100 warranty for a 2021 with 20,000 (out of warranty). Still not a perfect comparison.

 

[Revenge]

Anyone know how to go about purchasing the Granger warranty if you live in CA? I know there is some law about not being able to purchase online or something but I have heard that others have use a relatives address in an approved state to purchase. I would love to hear from someone who has actually done this. Thanks in advance.

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