I just got off the phone with the MOPAR extended warranty department. Here's what they offered on our 2021 GCL Overland with about 21,000 miles on it now.
- 8 year coverage. However, the coverage starts on the day I purchased the vehicle. So it's really only 5 year coverage after the original warranty ends. The rep did say that after this coverage ends there is another option to buy another 4-5 years of coverage at that time.
- Coverage is up to 85,000 miles only. I'm averaging around 10,000 miles per year right now, so not an issue for me.
- $100 deductible.
- The warranty basically covers everything accept wear and tear items.
- The price is $3,537. You can pay that in full or put $295 down with 24 monthly payments of $135. No interest or fees attached with that. You can also pay by credit card without any additional CC fees.
- There is an option for a $200 deductible, but the savings isn't that much. Price would then be $3,230.
- The warranty can be transferred if you sell the vehicle. Or, you can receive a prorated refund.
My issue is the way they advertise this as being an 8 year warranty. It doesn't actually kick in until my manufacture warranty expires, yet it is back-dated to the purchase date of my vehicle. I'm only getting a 5 year warranty which they are calling an 8 year warranty. The paragraph below explains the problem with this.
Over 8 years the price breakdown is about $442/yr. Let's say I purchase this now. I still have a whole year to go before it kicks in. Once it does kick in, I keep it for another year, then sell and request a prorated refund. I didn't ask, but I'm assuming the prorated amount will go all the way back to my purchase date of the vehicle. In that case, I would only receive $1,768. However, I really only used the warranty for one year. I should actually receive back $3,095. So I'm missing out on $1,327.
I tried emailing him this follow up question after our call, but the email was undelivered for some reason. Maybe I'll call him back later today or tomorrow.
