Since your Camaro isn't getting any newer, it might be best to consider an extended warranty.
An extended warranty covers your Camaro after the 36-month/36,000 mile new vehicle warranty expires.
An extended warranty protects your Camaro and gives you peace of mind. When you buy this type of warranty, you are purchasing a service contract that guarantees the warranty company, not you, pays for expensive repairs if parts should break or wear out. You have three different types of extended warranties from which to choose: bumper-to-bumper, stated component and drive train.
The auto industry determines warranty coverage by mileage. A vehicle with more than 50,000 miles is considered "used." Therefore, a bumper-to-bumper policy will not cover the vehicle, although any car that still has the original manufacturer's warranty is also considered "new" by extended warranty company standards. Confusing? Don't let it be. Just remember that any vehicle with any of the original warranty is still considered new.
Extended warranty companies sell bumper-to-bumper coverage only on "new" cars. A bumper-to-bumper extended warranty is similar to the original granted by GM. It will cover everything on your Camaro except emission control systems and tires (although there are exceptions; it is wise to read the warranty policy to find out what those exceptions are.) Many bumper-to-bumper policies also have, or offer as an option, added benefits and coverage, including car rental reimbursement, 24-hour roadside assistance, wear and tear coverage, seal and gasket coverage, travel interruption protection, electronic equipment coverage, and towing.
If your Camaro has more than 50,000 miles, it is considered a used vehicle. It is therefore eligible for a "stated component" warranty. This type of extended warranty protects most major Camaro components. These include your engine, transmission, and radiator. The stated component extended warranty may also cover the alternator, water pump, seals, gaskets, and some of the hi-tech equipment that you have on your Camaro like stereo or video viewing equipment, security system, etc. Whatever components are "stated" in the policy is what is covered. Generally, there is a 100,000-mile limit for stated component warranties.
A basic powertrain warranty only covers your Camaro's powertrain, which includes the engine and transmission, drive axles and the drive shaft. Some "enhanced coverage" powertrain warranties will cover a few additional components. A powertrain warranty is the least expensive of all extended warranties but it also covers the least. This type of warranty is best for a mid- or high-mileage Camaro and if you are only concerned with expensive repairs.
New Camaros registered in the United States were covered for three years/36,000 miles, whichever came first. This original warranty covered the entire vehicle, including cosmetic defects, tires, and towing to the nearest Chevrolet dealership. But since no new Camaro has been manufactured since the year 2002, most Camaro drivers, owners, and wannabe owners are looking at stated warranty coverage or drive-train coverage.
So check out this page. It can give you instant links to extended warranty companies who will be happy to quote you a rate and inform you of their coverage.
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