An extended vehicle protection plan is a good thing to have. These plans can cover the cost of repairs for as long as you own your car. But there are a lot of hidden benefits that extended car warranties offer that you might not know about. Let’s take a look.
Warranties are not just a way to cover car repairs. You can actually save a lot of money. For example, a BMW X5 has an average five-year cost of repair of $6,960. The warranty cost is $5,343. This means on average for this vehicle, you save over $1,600 when you have an extended vehicle protection plan in place.*
(*Car repair cost is based on CARCHEX proprietary data from actual warranty claims. CARCHEX Warranty mentioned is Titanium Coverage for 5 years/60,000 mile term.)
Insured Warranty Plans
Many extended warranties are insured. This means that no matter what, the contract will be honored for the lifetime of the warranty. CARCHEX offers a whole range of insured auto warranties. Get a free online vehicle protection plan quote today.
The better extended warranties come with other benefits as well, such as:
- Roadside assistance
- Rental car while repairs are completed
- Trip interruption reimbursement
These benefits are of particular value to those that depend on their car for work or commuting. If you can’t afford to be without a car even for a day, then these benefits are essential.
Some select warranties also come with:
- Seal and gasket coverage
- Wear and tear coverage
- Tire and road hazard coverage
- Toll-free nationwide service and support
When you figure in all the benefits, your savings might even be greater than the example mentioned earlier. CARCHEX offers all types of plans, including the ones mentioned above. Get a free CARCHEX warranty quote today.
Protect Yourself Against Inflation Or Lower Income
When you buy an extended car warranty, you get a fixed price at the time of purchase. However, auto parts and the cost of labor are subject to inflation. As long as your repairs are included in your plan, they will be paid for no matter how much the cost of repairs has gone up since you purchased your plan.
You might also find yourself in a tight financial situation in the future. This could make unforeseen car repairs difficult to pay for. If you have an extended warranty in place, you have the peace of mind that your car repairs will be covered.
Don’t Like To Haggle?
Some people don’t like to fight over car repair costs. With an extended protection plan, you take your car into the shop and they deal directly with the provider administrator. Payment is handled between the two of them, and you are free from being involved in price haggling.
The best auto warranties are transferable. This means that even if you sell your vehicle, the warranty can go along with it. There is usually a small transfer fee, so make sure you check with your provider before you sell. This benefit can increase the sale value of any used car.
Want More Info?
Speak to a service representative today toll free at 1-877-CARCHEX (1-877-227-2439). Or get a free, fast online extended auto warranty quote from CARCHEX now.
Published in Auto Warranty Articles by CARCHEX on November 12, 2014