A new car is your reward for he many hours that you faithfully put in to the work and you may want to keep it at top shape for a long period of time. That is why it may be wise for anyone who plans to purchase a new car to choose a dealer with good incentives. An example is General Motors. When you buy a car from them, you have the option to avail of their GM extended warranty contract. This plan is also known as the GM Protection Plan which aims to keep your car’s condition for an extended period of time. This is available in any GM dealer. And in order to determine where they are located, you may use their search feature which can be utilized in their website.
When trying to avail their GM Protection Plan, you may want to specify your coverage level. This will determine what kind of services will provide for you. It is set to three levels namely Basic, Value, and Major.
The Basic plan is the cheapest among the three. This protection plan covers problems with the engine, its transmission, the fuel system, and drive assemblies.
The value coverage on the other hand covers all the basic coverage plus the parts and labor. But this is only limited to the major system in a General Motors vehicle.
Lastly is the Major Protection Plan which covers the entirety of the vehicle. This includes labor and its parts.
During the process of deciding for a protection plan, it may be wise to determine the deductible that you want. This will be the amount that will be reduced from your retail price. The deductible can range between $0 and $200.
In addition, you should also determine the number of years you want your coverage last. The basis for this decision depends on how long you intend to own the vehicle that you purchased. If you ask General Motors, their clients choose a plan coverage which ranges from three to five years, on an average.
Your Protection Plan may be added to your monthly car payment if you want. This is an incentive which is provided by the dealership to avoid forgetting to come up with the payment. However, this is different than Gap Insurance which the dealer will also most likely to try to sell you, so you need to be prepared on whether you should buy Gap insurance from the dealer.
Signing of the contract will be done in the office of the dealership. Additional information may be seen in the contract. These you need to save for the purposes of recording.
Extending the Warranty
The General Motor Protection Plan provides a wide selection for extension of your warranty contract. As of 2009, the cars that GM has made available are limited usually to high end cars. This is the reason why it may be wise to avail of their extensions. This is a good way to protect you car. And since their warranties are comprehensive, you may be able to avoid any major problems with your car’s system.
You can only start negotiations with regards to your contract with a General Motor manager. So call one first and set an appointment in order to set a time to talk about your vehicle’s warranty.
During the meeting, it may be wise to bring important information with you. Information needed includes your mileage, the car’s VIN, and the car’s year, make, and its model. This is needed to ascertain the accuracy of your quote.
In the negotiation process, you may review the option you have in extending your warranty. When discussing, you should include what level you are as of the moment. This information will determine what modifications you can fit in your contract which is within your budget.
Deductibles should also be chosen during this time. This will be the amount that you are going to pay initially and any repair fees that you owe will be deducted from the payment you made. You may come at a crossroads when choosing this aspect of your contract. If you choose a zero deductible you will be able to control your expenses but the services tend to be costly. When considering high deductible plans, there is the problem of control but it costs less.
You should also choose your plan’s terms. Its limitation depends on the contract’s mileage limit. So it may be wise to choose one for the long haul, but its drawback is the price.
You should also add the means of your payment.
Cancelling the Extended Contract
It easy really, you just inform the manager of your plans of terminating the contract. If you terminate it within the first 60 days of the contract then you might get a full refund. If you are past the 60 day period, you may only get part of the money paid for the contract. The money returned depends on how much you already spent.