An extended waiting period of the car warranty is your money-back guarantee. Another reason companies use the extended car warranty waiting period is to YOUR benefit. You get 30 full days (sometimes more depending on the policy selected) to ensure you have adequate coverage. Vehicle eligibility for extended warranties varies by provider.
Manufacturers generally require you to purchase an extended warranty on the day the vehicle is purchased or before the factory warranty expires. Third-party contracts can be purchased for new or used vehicles at any time. Coverage from some third-party providers extends up to 250,000 miles. If you want to buy an extended warranty, remember that the price can be negotiated, just like the purchase price of the car.
A good time to consider the value of an extended warranty is when the manufacturer's warranty on your vehicle has expired or will expire soon. This usually happens after three years or 36,000 miles, depending on which one occurs first. If you plan to keep your car beyond the manufacturer's warranty expiration, buying an extended warranty can give you peace of mind in the future. It's probably a smart move to wait until your manufacturer's warranty is about to expire to assess your situation and determine if you want to pay for an extended warranty.
If you buy an extended warranty from a third-party warranty company, you can adapt that coverage to protect you where the factory warranty does not. For more information, see WalletHub's guides on mechanical breakdown insurance and extended car warranties. CARCHEX offers five extended warranty plans that are affordable and can be tailored to the needs of individual customers. However, auto insurance companies offer service plans for vehicles, while extended warranties are usually sold by dealers or third-party companies.
The main advantage of getting an extended warranty from a manufacturer is that you usually guarantee the use of original parts and that repairs are performed by factory-trained technicians. Toco Warranty sells vehicle service plans, which are similar to extended warranties, and a Toco Warranty plan covers the cost of repairs to car systems and mechanical parts. If you're thinking of buying an extended warranty for a new car, you might be wondering if it's a good investment. In addition, since Extended Vehicle Care is designed to supplement the original manufacturer's warranty, cars must meet certain requirements to qualify.
A car manufacturer, such as Ford or Chevrolet, sells an extended manufacturer's warranty and can be purchased from the car dealer. Specific contract terms, fees, taxes, charges and other charges are determined upon validation of vehicle information and supplier acceptance of the extended warranty, so CARCHEX is not responsible. Manufacturer's warranties for new cars, and even extended warranties sold by car dealerships, often require you to take your car to specific dealers when you need a repair. You can purchase an extended warranty from your car manufacturer or from an external company, and the price is usually the same between the two.
Mechanical breakdown insurance (MBI) is usually purchased through an automobile insurance company, while an extended warranty is usually purchased through a dealer, manufacturer or outside company. Usually, factory warranties on new cars last a few years, then the owner takes the risk if something goes wrong in the future. This website is intended solely for the purpose of providing general information regarding the purchase of extended warranties. .