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Extended Warranty and Gap Insurace

trailchaser

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Waiting for delivery and have read about the extended coverage and how a lot say it's worth it....but I'm looking to get opinions from everyone if it will be worth it for me, this is my situation -

Drive prob 10k or less miles a year since I work from home, in 5 years it will become my second car and I will bounce back and forth between this and a sports sedan so mileage will drop.

Could I not get it upfront and add it before mine expires?


Also, I know Jeeps keep their value...but my MSRP is 61k, $52,558 sales price and wonder if I should protect myself just in case.


Thank a ton, I have never been a fan of online forums but our community is awesome, can't wait for it to get here!
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Punkindave

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Get the gap insurance from your auto insurance company, not the dealer.. It's really inexpensive and even if you have large equity, it is still possible to become upside down in the event of a total loss.
 

TheDirtyDangla

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Gap insurance should run approx $300-$400 from a dealer, warranty will be less expensive upfront but won't go out quite as far. And if your dealer doesn't offer a factory extended warranty I wouldn't touch it with a 10 foot pole
 
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trailchaser

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I think I'll probably take gap, still unsure about extended warranty since I prob wont drive more than 8k miles a year first 5 years and from that point on even less....would anyone still get it for peace of mind?
 

sbmitch2000

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Good thread on extended warranty, I got a lifetime warranty when I bought mine and the going rate was $2400 with a $100 deductible at the time. There is a dealership in Michigan offering them after purchase online if your interested. I think it was Hayes if you look in the history.

https://www.jlwranglerforums.com/forum/threads/extended-warranty.6683/
 

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shaneR

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I’ll second the guy that suggested gap through insurance instead of dealer. Mine was less than $50 through Safeco.
 

StammesOpfer

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Yeah check with finance company and insurance co for GAP nothing wrong with shopping for coverage. As far as Warranty I would look at what it would mean as a second vehicle for you. If it is a toy at that point that you don't mind doing some of the work yourself and things not being absolutely perfect or you are going to be so modified that few things would be covered by warranty anyway then I would skip it. If you are going to minimally modify it and if say a power window not working would bother you a lot then maybe it is worth it.... Personally I slipped in under the wire on the lifetime one and plan on keeping this forever sooo my valuation was different.
 

DWS44

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Not all insurance companies offer gap coverage. For example State Farm does not offer it. However if you finance with State Farm all of their loans come with "Payoff Protector" which functions as gap insurance but the only way to get it is to finance with them.
Good advice! I've found State Farm Bank's loan rates are usually very competitive as well, and they occasionally offer rate reduction specials to those who have their insurance. I've used them to finance several vehicles.
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