Unexpected vehicle breakdowns are a reality for every car owner. If your factory warranty has expired you might be considering an extended vehicle warranty. Before you buy, ask these questions first.
- What Is Covered?
Make sure you get all the details about coverage. Extended warranty providers should be willing to give you specific information about the extent of coverage for each plan available. Even basic coverage includes a fairly long list of components. Compare the plans to match your needs.
- How Long Is Coverage Available?
Extended warranty plans typically range from 2 to 7 years of coverage. If you are planning to keep your car for several years, it might be a good idea to take advantage of a longer plan. However, even if you might sell your car within a few years, some extended protection plans are transferrable.
- Is The Auto Warranty Transferable?
Some extended warranties are transferable. This means that if you sell your car, the warranty still applies. There is usually a transfer fee of around $40 – 50. One advantage to transferrable auto warranties is that they increase the value of any used car for sale. All CARCHEX warranties are transferable. Get a free online quote today.
- What Is The Business Reputation Of The Warranty Provider?
Unfortunately, there are scam artists out there looking to take advantage of unwary car owners. Check the company’s reputation with the Better Business Bureau. See how long the provider has been in business since this makes a difference in handling claims. A long track record means that customers have been satisfied and are coming back for more business. Check out CARCHEX BBB A+ rating.
- Are There Any Other Benefits?
Things like a free rental car are a great help when you are waiting for repairs to be completed. Also, trip interruption reimbursement can save you money. Finally, 24 hour roadside assistance gives you access to help when you need it most. These kinds of benefits are signs of a good extended vehicle protection plan.
- Do You Really Need It?
If you are the kind of person who has extra money and doesn’t mind a bit of risk, then maybe an extended warranty might not be a priority. However, if you want the peace of mind that most unexpected car breakdowns will be covered, then an auto warranty might be a good idea.
Cars that see heavy use (commuting, job, travel, etc.) tend to have more mechanical problems. Also, if you live in areas with harsh weather conditions (snow, heat, rain, etc.) then breakdowns are more likely. In these cases, an extended protection plan might be wise to have on board.
The Bottom Line
The final decision is always up to the consumer. Read that fine print, and don’t let anyone pressure you into buying. If you are someone who likes to avoid surprises related to unexpected auto repair costs, then an extended warranty is probably a good choice.
Published in Auto Warranty Articles by CARCHEX on November 12, 2014