Are extended vehicle warranties legitimate?

The manufacturer's extended warranty may cost a little more, but it's from the same brand you trusted to buy your car. The term extended warranty is a little misleading. These service contracts are more like an insurance policy against possible mechanical breakdown of your car. Our team surveyed 1,000 consumers who purchased or thought to purchase an extended warranty.

Of those who had extended warranties, 65 percent were satisfied with the provider (whether they had used the coverage or not). Unfortunately, a look at the company's BBB page shows more than 2,000 complaints filed in the last 3 years. But, considering that it sold more than 500,000 vehicle protection plans in the same period, this is really impressive. It means that the complaint rate is only 0.4 percent.

We rate CARCHEX as the best used vehicle warranty company on the market. CARCHEX offers coverage for vehicles up to 250,000 miles, making it a great option for older cars. The company also offers a variety of plans for used cars. A native of New England, I have piloted a wide variety of vehicles, from a Segway to an aircraft carrier.

Many similar companies continue to operate in boiler rooms, often in Florida or Missouri (which have more than 40 extended warranty companies). We'll also recommend some of the best auto extended warranty companies in the industry so you know which vendors you should trust when looking for protection for your vehicle. Extended warranties may be worthwhile for many car owners, but it's better to consider their situation when buying a contract. While car warranty scams have given the industry a bad name, there are several reputable car extended warranty companies.

Like all extended warranties, CarShield plans include a number of exclusions, so it's important to make sure you fully understand what's covered and what isn't. The most reputable car extended warranty companies will pay the repair shop directly, so all you have to pay is your deductible. Extended Car Warranty prices are based on your vehicle, so comparing quotes will allow you to find the best price. In the world of extended warranties, a manufacturer's warranty is often the most expensive option considering the time and mileage limits you receive.

While reputable extended car warranty companies will take those hits as champions, unreliable suppliers will do their best to avoid payment, allowing you to pay the bill for costly repairs on top of the premium you're paying for your extended warranty coverage. Like other warranty companies, Protect My Car offers a 30-day money-back guarantee on all its extended car warranty plans. Before you sign on the dotted line with any car extended warranty company, be sure to check their qualifications. So before you buy an extended warranty, make sure you do your research to find one that is worthwhile, but don't leave it at that.

While vehicles older than 13 cannot take advantage of the extended warranty with Protect My Car, the company does offer Ambassador maintenance plans. If you decide to buy an extended warranty, be sure to do your homework, watch out for auto warranty scams, and work with a reputable company. Drivers who plan to keep their vehicles for a long time should consider investing in an extended warranty.

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