An extended vehicle warranty gives you more coverage than your manufacturer’s warranty. When purchasing car warranty options, people become less worried about surprise repair costs.
Because cars are complicated machines, repairs may be costly, and for this reason, people buy extended vehicle warranties. This becomes even more relevant for individuals because you want value and coverage, thus you want to select a reliable vehicle warranty company.
What Is a Car Extended Warranty?
An extended warranty for your car is basically a plan you buy that kicks in after your manufacturer warranty goes out of effect. Since an extended warranty is not included with your vehicle (a factory warranty will be) you’ll purchase it separately.
In essence, extend warranty is a contract that helps you pay for repairs and services of key vehicle systems. So many drivers think of it as additional peace of mind against the headaches of dealing with a mechanical failure, so an car extended warranty is a smart option if you’re a little worried.
Why Drivers Consider Extended Warranties?
Cars are expensive investments that usually take more care, time and maintenance. As assignments become more comfortable with the notion of things needing coverage, we need to consider extended warranties. Car issues will completely devastate a daily schedule.
The peace of mind provided by an extended warranty is the knowledge you have coverage and the repair costs will not compromise your budget. Warranties most definitely give hell drivers an added sense of security when we make plans and repairs and are have to rely on the vehicle on a daily basis.
Benefits of an Extended Warranty
The biggest benefit of an extended warranty is peace of mind. Instead of worrying about unexpected repair costs, the driver has a more consistent expenditure.
Many warranties,, also include extra options such as towing, road assistance, and rental coverage. Extended warranties offer another benefit – added resale value. A car that has an extended and transferable warranty is a lot more appealing to buyers and they feel secure with the extra protection.
When to Consider an Extended Warranty?
An extended warranty may be valuable in some situations. If you plan to keep your car for many years, the chances of a break down will continue to increase with the age of the car.
Cars with higher than average mileage or advanced technology may benefit the most from an extended warranty as the repair costs may be more complicated. Luxury vehicles, or models that have expensive parts, will also benefit from an extended warranty.
Car enthusiasts who travel often may prefer coverage in increased stress laid on you when driving long distances.
When Extended Warranty May Not Be Necessary
Not every driver needs additional coverage, particularly when there is a short time frame in which they could sell or trade in their cars. They may never utilize the warranty.
Vehicles listed with reliable histories are less likely to incur costly repairs, thus, purchase of extended warranties becomes increasingly lower value.
Some driver’s option is to create their own fund for repairs, saving money each month, and dealing with repairs in real-time without footing a contract for repairs.
What Common Vehicle Issues Do Warranties Help Cover?
Extended warranties typically provide systems coverage for primary systems, such as engine, transmission, suspension, and electrical systems.
Many of the warranty plans for extended warranty coverage, include systems coverage in separate warranty vehicles that include coverage for air conditioning systems, fuel systems, and in-car technology.
These areas can become quite costly to repair, and drivers generally require specialists to repair these systems. Warrant coverage protects the drivers from being surprised with repairs owed to their vehicles.
Misconceptions About Car Extended Warranties
Misconceptions abound when it comes to extended warranties. Many drivers mistakenly choose a warranty that covers every repair, which is almost never the case.
This is the case because all warranties have exclusions, which is one of the reasons why the fine print is incredibly important when reading warranties.
Another common myth is that warranties are sold only by dealerships. In reality, many third-party warranty providers sell warranties at a competitive rate.
The last misconception about warranties is the idea that they are a scam. While there are certainly bad providers, as with any company, there are also good and reputable warranty providers that were worth using.
How to Choose the Right Warranty Provider?
Not all extended warranties are created equal, and in order to review your options as a driver, it is important for you to review the coverage details and exclusions as thoroughly as possible. You should also research whether or not the full-length warranty is comprehensive or only covers systems with the limit.
Also see if the plan has deductibles, if there is a process the driver must follow when seeking to file a claim, and see if there are service options too. And of course, it is also important to read the reviews of your options when deciding among providers.
Find a provider with good reputation for transparency, responsiveness, and fair claim resolving practices. A warranty provider you can trust means that the warranty coverage provides real value and real protection.
Questions to Ask Before Buying
Don’t sign any contract without asking some important questions.
- What parts of the car are covered?
- Will wear-and-tear items be covered or not?
- Is the warranty stated to be nationwide coverage?
- What other benefits such as roadside assistance, are provided?
- Is the warranty transferable to an original owner when selling the car?
These questions help you avoid any surprises and ensure you are fully informed upfront.
Tips for Getting the Most Value from Your Warranty
To take advantage of an extended warranty, you are encouraged to use the manufacturer recommended maintenance schedule for your car. Refer to your car’s manual for oil changes, and inspection, etc.
Most providers need to see some proof of normal maintenance in order to deny a claim.
Make sure you take your car to authorized repair facilities to avoid any problems when you submit a claim. If you act responsibly, your extended warranty will work how it should when you really need it.
Warranty vs. Savings Fund
Many drivers have challenges in deciding if they should buy a warranty or simply save for repairs. A savings fund gives you a better sense of control and flexibility, however, it will take concerted work and hard-earned funds to build up the savings to use.
On the other hand, an extended warranty gives you instant peace of mind and protection. In short, it always comes down to how you allow your budget and risk comfort to determine what you plan to do with your car in the future!
Many drivers manage both a warranty and save!
The Impact Peace of Mind Makes While Driving
In addition, besides the financial peace of mind, an extended warranty also adds emotional peace of mind. Knowing you are covered while operating a moving vehicle will help relieve any tension you may have related to potential vehicle breakdowns. Even more so if the family only has one vehicle.
For people who commute, with an extended warranty, there will be fewer interruptions in your daily driving. Not everyone will be so concerned with the peace of mind aspect of obtaining an extended warranty, but for many drivers, it is an important consideration.
To Wrap Things Up On Extended Warranties For Vehicles
Extended warranties are not the “solve-everything coupon,” but they’re definitely good for some folks. If you have a high-mileage car, a technical automobile, or plan to own your car for many years, an extended warranty may be beneficial.
If you plan on owning your car only a couple of years, or if your car is reliable, chances are you don’t need the extra coverage. Look at your situation, your driving habits, and how comfortable you feel with repair risk.
The best choice is the choice you feel offers some protection but also peace of mind.