[cellsafemode]

So I purchased an extended warranty. However, the car wont be kept stock.

Do I keep it anyway since this is a year 1 car?

Or do I cancel it for a full refund and use the money to fund more modifications?

I skipped the 5th gen so I'm not sure what the recent track record has been for common failures. Has anyone here happened to actually make use out of an extended warranty on a late gen camaro? Or wish they could have (something failed just after normal warranty period)?

[HyperBlue16]

Was the car financed?
I have seen where if the extended warranty was purchased as part of the financing, that unless you have paid the car off completely, some of the extended warranty companies will only refund the money directly to the bank loan.
But i guess you would have to read over the the cancellation policy of the company it is thru.

I'm debating also after getting their booklet with all the details of what they will & will not cover, cause i see some of the things they don't cover or would lead to not covering are wide open to interpretation.

Like gaskets are not covered, unless subject to replace a part that is covered. But fluid contamination that damages a covered part, will not be covered. So if a head gasket leaks and coolant gets in the oil and ties up the engine, they will not cover it.
They also state things like if a non-covered part damages a covered part, they won't cover.
If a covered part damages a non-covered part, they will not cover the non-covered part.
Any other items subject to scheduled maintenance or wear damage.
Mechanical breakdown occurring when a condition exists that permits us to cancel the contract.

So for complete coverage, they have some holes they can go thru if they wanted to & with a data recorder onboard, if they can access it, then they can use what you were doing as "your neglect or misuse)

I can see where it might still be useful on unknowns, but also a waste if they play merry go round with excuse to not cover.

[Netslave]

Originally Posted by cellsafemode

So I purchased an extended warranty. However, the car wont be kept stock...

To me you answered your own question. It sounds like a waste of money to pay for ext warranty coverage if you going to start messing with the engine, trans, tunes etc. Those modifications open up avenues for denial of warranty work on interconnected items. If the engine has more hp the extra hp could have broken the trans, axle etc.

[cellsafemode]

Originally Posted by HyperBlue16

Was the car financed?
I have seen where if the extended warranty was purchased as part of the financing, that unless you have paid the car off completely, some of the extended warranty companies will only refund the money directly to the bank loan.
But i guess you would have to read over the the cancellation policy of the company it is thru.

I'm cool if they end up refunding to the loan account. That's money i dont have to pay back, knocking like half a year off my loan.

[HyperBlue16]

I just pointed that out, in case you were maybe expecting to use the money right now for mods, so you could double check & be prepared.

But also saying things i see that in the wording of the policy that could affect future worth of it to have.

[stars_fan]

Also understand that they prorate the refund based on mileage. You purchased it thinking that the warranty starts when your factory warranty ends but the fine print says it starts when you drive the car off of the lot.

If you purchased the car with a 100k mile warranty and you have 5k miles on the car you would get back 95% of the purchase price.

[HyperBlue16]

Originally Posted by stars_fan

Also understand that they prorate the refund based on mileage. You purchased it thinking that the warranty starts when your factory warranty ends but the fine print says it starts when you drive the car off of the lot.

If you purchased the car with a 100k mile warranty and you have 5k miles on the car you would get back 95% of the purchase price.

Unless usually within 60day of purchase, then they just take a $75(depends on company) processing fee.(for their time creating it and cancelling it)

[cellsafemode]

yea, still within the 60 day limit.

[BradfordCamaro]

You are covered for 3 years.
You pay $$ to extend it past the 3 years.

If you plan to modify your vehicle within the next 3 years, cancel the extended warranty.

Easy.