Purchase of an extended car warranty can be an intelligent financial decision if the buyer understands what they’re committing to. Do your research, watch out for scams and select a trustworthy provider – this will give them peace of mind they are paying for.
Extended warranties are contracts designed to cover repair costs after the manufacturer’s original bumper-to-bumper or powertrain warranty has lapsed, usually offered through dealerships but also available from third-party companies. Their prices can differ widely and they typically offer less comprehensive coverage compared to factory warranties; some even feature significant deductibles and only cover repairs at specific facilities or parts.
Extended vehicle warranties can be an investment worth making, especially if they plan on keeping their car for several years after its original warranty has ended. They’re also valuable options when buying used cars that don’t come with any sort of manufacturer-backed warranty coverage – particularly ones that have had any prior repair issues that would suggest it would benefit from one. A free Carfax report can help buyers assess a used vehicle and decide whether an extended warranty might be worthwhile investment.
If a buyer is buying a new or pre-owned car that comes equipped with full bumper-to-bumper and powertrain coverage, an extended warranty may not be necessary. They can use the money saved from skipping this step towards future repairs or maintenance expenses instead.
Most experts advise against purchasing an extended vehicle warranty when financing it through monthly payments, which involves adding the cost into monthly payments. They suggest car buyers eschew hard selling from dealership salespeople and do their own research prior to purchasing one from a third-party provider such as an extended dealer warranty plan or auto manufacturer warranty company. Those interested should consider paying cash or using savings for these protection plans instead.
Not only should cost be considered when making this decision; other important aspects include policy terms and conditions, the service provider’s reputation and how long you intend to own your vehicle. Also check customer satisfaction ratings as well as Better Business Bureau reports so as to ensure working with a reputable provider.
Purchasing an extended warranty requires some research before making a decision, with many resources and reviews online available to you to assist with finding the ideal policy for your needs. Basil Chevrolet Inc. in Jamestown, Westfield and Dunkirk can offer assistance should any queries arise or further consultation be required when it comes to car purchases – we strive to help our customers make informed choices when purchasing vehicles!