All new cars typically come with a factory or manufacturer’s warranty. The manufacturer’s warranty helps buyers with any performance and mechanical issues during the first few years of the vehicle’s operation.
Unfortunately, the average factory warranty covers only four years, while some warranties cover only three years. So after the manufacturer’s warranty expires, you’re on your own to pay for expensive automobile repairs. And, if you bought a secondhand automobile, your warranty may have already expired a long time ago.
What Is an Extended Warranty?
An extended car warranty is a service plan that you can buy from a third-party provider that will continue to cover the cost of repairs of your car. It typically starts when the manufacturer’s warranty expires. The coverage varies per plan, but an extended warranty often does not cover wear-and-tear or routine maintenance items and services, like brake pads, tires, air filters, and oil changes.
You may think that getting an extended warranty for your vehicle is unnecessary. However, extending your warranty coverage is advisable regardless of whether you own a brand new car or an old one. The warranty helps continue covering your vehicle’s components against failure and unexpected repairs. This scheme can save you money and keep you safe in the long run.
Let’s go through six compelling reasons why extended auto warranties are worthwhile.
1. You Can Save Money
The most significant benefit of an extended warranty is that it can save you money if your vehicle requires a costly repair covered by your contract. Instead of paying the entire cost out of pocket, you’d just be responsible for the deductible (if you have one). Then, the warranty provider would cover the rest, as long as the vehicle issue that needs to be fixed is covered by the service contract.
2. It Provides Peace of Mind
All automobile components have an estimated life span. The more miles parts have on them, the closer they are to breaking down. However, having an extended warranty plan will help you reduce your stress and provide peace of mind if worrying about how you’ll pay for a repair is something that will keep you up at night. It also saves you the trouble of filling out lengthy paperwork and haggling with mechanics for a fair price.
An extended warranty is ideal if you require more coverage or cannot afford the cost of unexpected repairs. Without one, it may be challenging to pay for necessary repairs, replacement parts, and labor.
3. Personalized Extended Warranty Coverage
Automobile manufacturers typically sell off-the-shelf warranties policies at predetermined pricing and fixed coverage. You can customize an extended warranty to protect you in areas where the factory warranty does not.
The best extended car warranty is typically tailored to your budget. It makes payments more affordable for you than a pricey repair.
4. Increase Resale Value
If you decide to sell your car, you’ll most certainly want to get the most money for it. With an extended auto warranty, you can maintain and protect your vehicle’s market value. In addition, some extended warranties are transferable for a minimal price. This scheme can be far more appealing to any potential new owner than others.
5. More Repair Facility Options for Third-Party Providers
A manufacturer’s warranty allows you to choose which repair facility serves your vehicle through third-party providers. Unfortunately, this means you won’t be able to stick with the mechanic you know and trust.
6. Unnoticed Other Benefits
Car warranties also prove their usefulness by assisting customers in stressful situations. Additional features that some providers offer with an extended automobile warranty include:
● Roadside assistance
● Rental car reimbursement
● Travel protection
● Flexible payment options
Getting an Extended Warranty Soon?
It is not easy to decide which extended warranty or service contract to purchase and from which provider. Each plan covers a different set of coverages and has a different price. With so many choices available, you don’t want to jump to a quick decision.
Make sure that you do your own research to fully understand how it works, what the policy covers (and doesn’t cover), when coverage kicks in, where you can get service, and the costs involved. You should also read reviews of leading extended warranty providers, including an Endurance warranty review, to obtain the most satisfactory option and the best pricing possible.
An extended car warranty is an optional but highly-recommended service plan that helps cover your car repair costs. So when you’re looking to get an extended warranty soon, make sure you keep the points above in mind, and you’ll be set in no time.