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GM Extended Warranty questions (vs CarMax)

94cruiser

Member
161
8
18
not yet
I have purchased the TourX two months ago from CarMax and opted in for the CarMax Max Care protection plan.
I tend to keep the car for a long time.

I can cancel CarMax MaxCare warranty (won't get cash back, that cost will go towards the paying off the loan).
I can purchase GM Protection Plan and I have two options.

Many years ago I purchased an aftermarket protection plan for a Chevy Caprice and it really paid off for sure as I got a rebuild trans and some front end suspension. I had a plan on my other car which was in some ways more reliable and that plan paid off for some suspension and steering items.

Now. Has anyone used the GM platinum plan coverage?

If I cancel the CarMax Care plan with $0 deductable at CarMax/$50 deductable at GM, and go with the GM Platinum plan with $0 deductable I'll save about $100 and extend the coverage for about a year and a half. If I spend additional $600 towards the GM plan I'll extend the coverage to 100K.

In the past two months I've owned the car I put two thousand miles however I feel I do a little more driving normally (pre covid)
So I'm trying to figure out if it makes more sense now to:
a. stick with CarMax plan
b. move to the GM longer time plan but same mil
c. move to the GM longer time 2 plan but 100k

I don't have all the items spelled out comparing CarMax Care vs GM; but I would figure the GM plan covers more items but it also means out of pocket cost for me now.
Back in the day when I used the protection plan it was for big ticket items like: trans, steering rack, tie rods, ball joints and control arms. I don't recall too many if any electrical components....


I'm at a time where spending $ right now is not ideal. I know that if I switch from the MaxCare to the GM plan I'll save in the long run, but I'm trying to build up my savings. Maybe that's why I use the 20% down and then payment plan for the balance...
 

shs92645

Full Member
468
167
43
Barrington, RI
2013 Regal GS, Smokey Grey, auto, 19”, Nav
I purchased the GMPP when I owned my first Regal (2011) and never filed a claim. For my last Regal and my present one my philosophy is put the money aside in the bank in the event you need it. My Regals have all been CPO with 5/62 bumper to bumper and 6/100 powertrain warranties. I think extended warranties are good for the company but not the consumer.
 

mitchflorida

Buick Newbie
279
87
28
South Florida
2016 Summit White Regal, Premium II, Moonroof, Driver Confidence Package
I would wait to right before the factory warranty expires to buy an extended warranty. By that time you can tell if the car is trouble prone, and then of course buy it from GM.
 

jdoodle

Sustaining Member
24
15
3
Texas
2018 regal tourx
Not familiar with the CarMax warranty though I turned it down when I bought my TourX. Be sure you understand terms of cancellation, many times you will lose a significant amount of money even though the "extended warranty" period hasn't even started. Yesterday you bought the extended warranty to cover engine/trans., today it is for the electronics.
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94cruiser

Member
161
8
18
not yet
Not familiar with the CarMax warranty though I turned it down when I bought my TourX. Be sure you understand terms of cancellation, many times you will lose a significant amount of money even though the "extended warranty" period hasn't even started. Yesterday you bought the extended warranty to cover engine/trans., today it is for the electronics.
I would loose $50 out of the deal.
The rest would be transferred to the loan balance.
 
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