Pros and Cons of Buying an Extended Warranty for a Car

When your vehicle needs a repair, one of the first things you might ask yourself is, “Does my car warranty cover this?” Breakdowns can be expensive, and not all manufacturer warranties will pay for the repairs you need. If you’re wondering whether or not an extended warranty is a good investment, keep reading.

Why Should You Get an Extended Warranty?

The rising prices on new and used cars means that more people are keeping their current vehicles longer. Some manufacturers are responding to this consumer trend by extending warranties beyond the basic three years/30,000 miles. However, this still doesn’t help when it comes to the increased wear and tear that today’s car owners face.

Getting an extended warranty may help you avoid the cost of a major repair, which often won’t be needed until long after the original warranty runs out. They can be purchased for new or used cars, and most dealerships offer a choice in coverage. The flexibility and longer protection may also give you peace of mind.

Getting an extended warranty may help you avoid the cost of a major repair, which often won’t be needed until long after the original warranty runs out.

Learn More About Extended Warranties

Is There Any Reason Not To?

That depends on a couple of things:
How much risk are you willing to accept?
How much you’ll be able to pay out of pocket for a major repair.
An extended warranty is like insurance in that you might think you’re paying for something you may never use. There are also limits put on even the most robust warranty. You might only be able to use certain repair shops or be limited in your choice of parts or systems.

Get a Free Quote on an Extended Warranty Today

There’s a lot of fine print to read before you commit to any type of contract. Before you decide on whether to purchase a new or used car warranty, answer these questions:

• How long do you plan to keep your car?
• What type of driving do you do?
• How many miles do you usually put on a vehicle?
• What is the cost versus the possible benefits?

Cars are more technologically advanced than ever before. This means even the simplest repairs could end up costing you a lot. Don’t forget, a basic manufacturer warranty likely won’t cover normal repairs for things such as brakes, tires, or batteries. An extended warranty, however, can.

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If you’re looking to save money as a car owner, get more information about Extended Warranties here.