All brand-new cars come with a manufacturer’s warranty. Most bumper-to-bumper warranties last three to five years, depending on the car and manufacturer. Some owners go the extra mile and purchase an extended car warranty. These warranties offer a range of benefits that should entice new buyers to purchase.
What Are the Benefits of Buying an Extended Car Warranty?
Buying an extended car warranty may make perfect sense to most buyers, but not everyone thinks they are necessary. The following are some reasons for buying coverage for an EV.
They Offer Peace of Mind
One of the primary advantages of purchasing an extended warranty is that it gives older vehicle owners great peace of mind. Cars with high mileage are more likely to break down. Owners of older cars will have fewer worries with coverage. Extended warranties can cover the cost of repairs and towing.
Extended Warranty Coverage Is Customizable
Many vehicle owners do not realize extended warranty coverage is customizable. They only need to pay for the coverage they need. Customizable options help vehicle owners get the coverage they need without breaking the bank.
Increase the Resale Value
Purchased warranties are often transferable with a small fee, helping to improve the resale value if the owner decides to sell. Buyers are often more willing to purchase a used vehicle if it comes with a warranty. Warranties make the purchase more attractive.
Decreases the Cost of Ownership
Car repair bills are more expensive than ever and can break budgets quickly. The annual cost of car ownership is now over nine-thousand dollars and growing by the year. Buying an extended warranty helps cut down on the cost of car ownership, making it more affordable for owners.
Extended Warranties Offer Other Benefits
Depending on the company and coverage, extended car warranties may offer further unexpected benefits. For instance, many of these policies come with roadside assistance. The warranty company will send out a tow truck for roadside assistance if owners become stranded and need help right away.
Tips for Purchasing an Extended Warranty
Once vehicle owners realize the benefits, they want to buy extended coverage. Unfortunately, not all coverage providers are equal. Owners must research carefully to ensure they select the right provider and coverage. Consider the following tips to get started.
• Research the company to learn as much as possible before purchasing a warranty. Learn about the company’s consumer rating and check to ensure they have no past or active lawsuits.
• Read customer reviews. If there are many poor reviews, buyers should be concerned. Never purchase extended car warranties from companies with many poor customer ratings.
• Read the contract in its entirety. Never sign any legal agreement without reading the entire document, including the fine print. Know every detail of the contract first.
• Make sure you understand what the warranty covers and the exclusions. Waiting until you have to make a claim is a poor choice.
• Make sure you get a guarantee on the coverage. The most reputable companies offer a money-back guarantee if customers are unhappy with the coverage.
Purchase an Extended Car Warranty Today
Buying coverage for your car is critical. If something goes wrong, could you afford the repair bills? Many owners do not realize they can purchase warranty coverage for their older high-mileage vehicles. Get started protecting your vehicle today.