Good Sam Extended Service Plan?

[ctyankee]

We own a 2012 Roadtrek Agile ( Sprinter) that goes off its original wtee in August. Considering A Good Sam Extended Service Plan, but hassles with claims concern me. I know they are hugely profitable for the issuers, I could live with that if claims were handled properly. Can anyone report on their experience ( good or bad) with this program?

[avanti]

All third party extended warranties are financially foolish. There are no exceptions. (N.B.: OEM extended factory warranties CAN be worthwhile--they are not a zero-sum game).

Open a bank account. Call it your "universal extended warranty". Whenever you are tempted to buy one, put the money there instead. The "claim handling" will prove to be superior, and you will die with a positive balance in that account.

[mumkin]

I vote with Avanti... unless you have spent the last couple years with every darn thing breaking over and over...

[obgraham]

CTY, think carefully about what you wrote. To paraphrase:

"I want to buy an expensive service plan even though I know claims processing will be difficult and they will pocket a huge percentage of my fee as commission."

There is no logic to these plans, although the minority who got them to pay for a big repair will forever toot their value.

[Bruceper]

The only time these warranties are worthwhile are when you are at The Source and you buy a pair of headphones on sale for $5 and the 3 year warranty is $1. Keep the receipt, break the headphones next Christmas and enjoy your new present

[wincrasher]

A friend of mine has bought these lifetime warranties thru Chrysler on several cars. I covers everything for unlimited miles for your lifetime. On his Jeep Grand Cherokee it was 2400. When his nav unit blew up, they replaced it no questions. That alone was a 1200 part. He tends to keep his cars forever, so engine and transmission repairs are almost a certainty. He swears by these things.

I've never bought one. But if I was, it would most likely be one from the manufacturer, not a third party.

I don't know if these exist on any RV. Even on the Promaster.

[avanti]

Originally Posted by wincrasher

A friend of mine has bought these lifetime warranties thru Chrysler on several cars. I covers everything for unlimited miles for your lifetime. On his Jeep Grand Cherokee it was 2400.

Those Chrysler warranties are actually backed by the OEM. As I said in my previous post, that is the one exception to the blanket condemnation of extended warranties. Such warranties may or may not be good deal, depending on the details, but it least they don't defy the laws of economics the way third-party warranties do. There are various reasons for this -- mostly having to do with the fact that the manufacturer can have your vehicle repaired far more cheaply than you can. This is not true of third parties.

[disccopy]

We bought an extended warranty on a dodge conversion van. When the power drivers seat motor went out found out they would not cover it as it was not factory. What a waste of money that still angers me to this day.

[ctyankee]

Thanks to all. Looks like Self Insure is the way to go.

[tbirdman]

Originally Posted by avanti

Those Chrysler warranties are actually backed by the OEM. As I said in my previous post, that is the one exception to the blanket condemnation of extended warranties. Such warranties may or may not be good deal, depending on the details, but it least they don't defy the laws of economics the way third-party warranties do. There are various reasons for this -- mostly having to do with the fact that the manufacturer can have your vehicle repaired far more cheaply than you can. This is not true of third parties.

I bought a lifetime warranty for my 2012 Jeep grand Cherokee. The warranty is in effect until a cost of a repair exceeds the blue book value of the Jeep. I'm planning on keeping it for ever, but if I only kept it for 10 years, it would cost only $190/yr. Of course Chrysler is betting that people either get their Jeep totaled or people get tired of the vehicle and sell it. It seemed pretty cheap insurance for a $40K vehicle.