Here is the "problem" with those so-called bank warranties......the bank just sells/buys them from a company.....now lets say, you have a problem with the engine......this company, which has nothing to do with the bank, will say, where are the maintenance records of this vehicle? Was it properly maintained?
You have NO RECORDS......they can also claim, a lot of the vehicle is not covered due to wear and tear of the vehicle due to mileage.......
You should look at your policy, to see what is covered and what is not covered....many of these policies do not cover the "electronics" of the vehicle, like "modules"....
And you will also find, when you go for repairs, the garage you bring it to,may not honor the warranty......they say you will have to pay up front, and then you will have to submit the bill to the warranty company.....this is when it gets hairy......that no deductible can disappear in a hurry.....the warranty company may have their own labor rates, and part costs, compared to the garage, and if there is a difference, you will pay it.....
Another problem is, time.......suppose there is an engine or transmission problem........the warranty company wants the engine or tranny, broken down, so that they can inspect the problem.....the shop does this....maybe the inspector takes a couple of days to come to the shop to look at it.....tick, tick, tick.....then he says the part is not covered due to abuse/lack of maintenance....Now what do you do? Guess who has to pay the shop for the labor done thus far? And now you have to make a decision on a repair for something that is not covered....and since we are no longer dealing with a warranty company, an unscrupulous garage can have you by the short hairs....more money out of your pocket....
I have seen this many times......
Now, I am not saying all these policies are the same......there are probably some good ones out there......
But if I were you, I would read the "fine print" of your policy.....I would also make sure, to do all the "recommended" maintenance procedures for this vehicle, and keep all the slips for proof......for example, this engine uses GM Dexos synthetic......if you do your own work, put regular oil in, and have an engine problem, and they find out you did not use Dexos, or a brand that meets or exceeds Dexos specs, your engine is not covered for any warranty...
I don't know if you are familiar with the GM oil monitor.....it gives you a % of oil life left.....DON'T GO BY IT! Recommended oil changes for Dexos is 6K miles.......
Also, I don't know if you have a transfer case,,,,,,,how do you know if that fluid has been changed?
So just be aware of the limitations of these bank policies.......the bank just buys/sells them......it's the warranty company, that has the final say on what is covered and what is not......
Check pages 11-5 and 11-7....
http://www.chevrolet.com/content/dam...12traverse.pdf