6 Reasons Extended Car Warranties Are Worth It
When purchasing a vehicle, an extended warranty might not be necessary for everyone, but it can be a good idea for anyone wanting to avoid unexpected repairs and bills. This is why we’ve explained 6 Reasons Extended Car Warranties Are Worth It.
Extended car warranties can provided flexibility and tailor to your specific needs. A third party provider will allow you to shop around and find the most cost efficient coverage options that work best for you. Most Car Warranty Providers offer at least 4 different warranty coverage plans that are great for almost anybody’s needs or budget.
2. Cost Savings
Purchasing an extended car warranty can save you a lot of money in the long run. Depending on the severity of the damage, one repair can cost you more than the extended warranty in total. Which is why it could be a great option for you if you don’t have the extra money for out of pocket repairs.
3. Resale Value
An extended car warranty can help you maintain your vehicle and keep its value. Some extended warranties are transferable for a fee, which will make your vehicle a better purchase for any potential buyer compared to another car that isn’t covered. When your vehicle is maintained, its components will be in the best condition, which can assure potential buyers that your used car is reliable and in top shape.
4. Reduced Worry
Extended car warranties are worth it if you’re concerned about paying for major repairs. With an extended car warranty, most failures and defects of your vehicle are covered, depending on which plan you purchase. Just knowing that you have this backup coverage can offer peace of mind in terms of not worrying about an unanticipated expense.
5. Added Benefits
Not only do extended warranties cover your vehicle’s components, but they cover you as well. Added benefits for an extended warranty can include roadside assistance, rental car reimbursement, towing, trip interruption coverage and affordable payment plans.
6. Extends Vehicle Life
When vehicles age, major components begin to wear out. The engine and transmission are the most expensive. Repairs involving airbags, the suspension system, camshaft, head gasket, and catalytic converter can set you back by thousands of dollars. If these repairs are covered under your extended warranty, you should be able to keep your vehicle longer.
Extended Warranties also require you to keep up with your routine care in order to not void the deal.
Is An Extended Car Warranty Worth It?
If your vehicles engine or transmission goes out, it may be covered by an extended warranty. There are many different warranty options so you can cover the parts that best fit your needs.
Although, an extended warranty isn’t the right choice for everyone. Some warranty plans are expensive and some people don’t plan on keeping their car for a long period of time. There are many things to consider before committing to an extended warranty.
What Do Extended Car Warranties Cover?
Extended warranties can cover major components of your vehicle such as the engine, transmission, gaskets and axles. As long as you keep up with the required maintenance and the part failed due to damage verifiably caused by flawed workmanship, defective materials, or malfunctioning systems, those parts will be covered.
Some extended warranties include roadside assistance, which includes towing, bringing a gas tank, assistance with flat tires and dead batteries. Your extended warranty might also offer trip interruption protection so you can get reimbursement for a rental car or hotel cancelations.
Extended car warranties do not cover regular maintenance or wear and tear damage. If you don’t take your vehicle in for routine maintenance it can void the warranty altogether.
When Can You Get An Extended Warranty?
Normally you will be offered an extended warranty from the manufacturer when the original warranty expires. You want to make sure to purchase and extended warranty before the original warranty expires or you will no longer be eligible.
Getting An Extended Warranty From The Manufacturer Vs. A Third Party
Buying an extended warranty from a manufacturer has quite a few benefits. All parts will be from the manufacturer and the repairs will be done by a factory trained mechanic. You also have the option of transferring your warranty to a new owner if you decide to sell the vehicle, which could increase the value of your vehicle.
Be sure to keep in mind that any extended car warranties by the manufacturer will require you to get your vehicle repaired at the official dealership. If you don’t live near your dealership, a third party warranty might be the better option for you.
With a third party warranty, you may still have to go to an official dealership for repairs. If that is a concern for you, try and find a third party warranty that doesn’t have any restrictions on where you can get repairs. Also keep in mind that you can still transfer a third party extended warranty, but you may have to pay a transfer fee.
Finding the Best Car Company Warranty can take time, so it’s never a bad idea to shop around and get quotes from multiple places.
Determining If Extended Car Warranties Are Worth It
Extending a car warranty is a good idea for many people, but not everyone. There are a few things that you should ask yourself before purchasing.
How Reliable Is Your Vehicle?
If you purchase a used vehicle from a dealer an extended warranty might be a good idea for you. With a used vehicle you can sometimes have uncertainty about the reliability of the vehicle. If you know its unreliable then an extended warranty is a good option for you. Also, a warranty will most likely be with the cost if you know that the vehicle is prone to specific issues.
How Long Are You Keeping Your Vehicle?
If you only think you’re going to keep your vehicle for a short amount of time, then an extended warranty probably isn’t a good choice for you. Extended car warranties are a great option of you plan on keeping your vehicle running as long as you can.
Will You Keep Up On Regular Maintenance?
If you don’t keep up with regular maintenance schedules, you run the risk of voiding your warranty. If you purchase a warranty and become ineligible for services just because you missed a routine oil change or tune-up.
What Are The Different Types Of Extended Car Warranties?
There is a variety of extended warranty options, you’ll want to look over them before deciding if getting one is the right option for you. These warranties have different coverage and terms and it’s up to you to determine which extended warranty fits your needs best. If you’re unsure on which option will be best for you, you can always talk to a warranty specialist.
Maximum Care Extended Warranty
The Maximum Care Warranty extends your Dodge, Chrysler or Jeep’s powertrain and basic component coverage beyond the 3-year/36,000-mile manufacturer’s warranty and covers more than 5,000 components, providing virtually complete mechanical coverage for your vehicle. Maximum Care is available with a variety of terms.
Powertrain Care Extended Warranty
The Powertrain Care Warranty extends your Dodge, Chrysler, Ram or Jeep’s powertrain warranty beyond the 3-year/36,000-mile manufacturer’s coverage and covers more than 300 components, including your engine, transmission and driveline
Added Care Plus Extended Warranty
The Added Care Plus plan is for new vehicles, including those already covered by a powertrain warranty from the manufacturer. You can add this coverage as long as you are still within 48 months of your vehicle’s in-service date and have accrued less than 48,000 miles. You can choose from a lifetime plan as well as other plans that range from five to eight years and from 60,000 to 125,000 miles.
Road Hazard Tire And Wheel Protection
The Road Hazard Tire And Wheel Protection plan provides coverage for all four tires and wheels that are damaged due to a road hazard condition for both factory and aftermarket tires and wheels.
Other added benefits include car rental allowance, trip interruption protection, roadside assistance and towing.