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Extended Warranty For Cars — Key Things You Should Know
Car ownership is a big deal no matter how you choose to look at it. Whether it’s insurance, the actual cost of running the vehicle or the expensive considerations that are involved with replacing parts that wear, owning a car is something that needs to be approached with care. Part of that approach is ensuring that the eventual wear and tear of use is adequately protected for, and this is best achieved through an extended auto warranty. The conversation you have with your dealer in the showroom may involve the purchase of an extended warranty, and it’s a good conversation to have. But before you plunk out the cash, use the education below to make an informed decision.
Coverage Under an Extended Warranty
Before you choose an extended car warranty, it helps to have an understanding of what exactly you’ll be covered for under such a warranty. The first thing that should guide your thinking is wear and tear; this is the gremlin in the machine that will eventually make having an extended warranty in place. Things like tires will wear, so too will the systems that regulate your gear box and parts of your engine. Having a warranty in place will save you the headache of having to find thousands of dollars to replace many of these things.
You’ll also need to consider labor inclusion under the warranty. Unless you have the skills necessary to pull apart an engine or a gear box, then it is absolutely important that an extended warranty you get includes coverage for the labor that is required to put things right. Failure to do this will mean shopping around for an engineer or mechanic and this can be time consuming and expensive. Will you be riding a bus or the train to work when your car is in the shops? You don’t have to; not if you get a courtesy car as part of your warranty package. A courtesy car will make the repairs process more convenient for you—hands down.
Should You Buy From a Dealer?
The fact that you buy the car from the dealer doesn’t tie you to buying extended warranty coverage from that same dealer. In fact, the world of extended car warranties, the advice is always to shop around. You do this for several reasons: one is that dealers are notorious for selling very expensive extended warranties. There are even stories of people paying as much for extended warranties as they did for the car itself. This won’t be the case for all dealerships, but it helps to keep this in mind. Another reason to shop around is the type of coverage that you may get elsewhere may be more comprehensive. A dealer for instance may not offer coverage for things like labor or a courtesy car, while companies that specialize in extended auto warranties might.
That being said, your shopping around really is ‘shopping online’. The reason? In recent years, a whole new industry as popped up online that caters specifically to people looking to acquire extended warranty protection for their vehicles. These warranty companies tend to be cheaper, more comprehensive in their offerings and above all are reliable and responsive.
By using the internet too, you’ll save time. There are very good third-party review sites that help cut through the clutter and present the very best auto warranty companies for you to choose from.
So, instead of buying a car and fretting about what could go wrong, take your peace of mind into your own hands and get an extended auto warranty. You’ll be glad you did, and above all it will help you manage your motor expenses better—something which is mega important in these recession-biting times.
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