Thanks Karen.... I haven’t yet talked to my dealership but I’m ilke you in that mine is built into the payment I make. They will probably tell me the same thing. I'll talk to the dealership in the next couple of days.

I called GM and found out I misunderstood one thing, which is that I AM covered for the first 3years/36kmiles by the GM warranty, regardless of who I have for the extended warranty.

I was just plain stupid for not checking this all out sooner. Which is my point and why I posted in the first place.... for folks who like me don’t buy a new car often (this is a first for me) and/or are otherwise less informed/educated about the whole process.

Also, as other people have posted here, the non-GM warranty is considerably less than the GM extended warranty but i have a feeling what you get what you pay for. GM wanted $1800+ for a 3 year extended warranty. That seems high to me.

I’ve never had an extended warranty and as yet I don’t know whether or not I’ll get a GM extended warranty after I cancel my current non/gm extended warranty.

When I make a decision i’ll post a follow up.

 

When you cancel a service contract that was built into your financing for purchasing your vehicle the refund is sent to the bank that holds your loan. This means that the refund amount pays down your principle of your loan. Your monthly payment stays the same. Your principle goes down. You are no longer paying interest on the "refund amount" of your GM warranty.

 

Anyone heard of warranty direct? I think lots of people say it is a good company for extended warranty. I checked into them and may purchase an extended through them. They also offer payment option for there warranty so you don't have to foot the whole amount up front.

 

If that is the one based in Missouri, you probably should check Consumer Reports about them. They have several "warranty" companies under different names.