It's important to note that you have the option to purchase a car warranty at any time before the manufacturer's warranty expires. You can even buy an extended warranty after the manufacturer's warranty expires, although the price will go up considerably. Nearly every new car comes with a comprehensive warranty of at least three years and 36,000 miles. For many brands, the warranty is even longer.
If you keep or lease your car for less than the duration of the factory coverage, you don't repeat or need an extended warranty. If you plan to keep your car until its wheels fall off, you might consider buying an extended warranty to cover repairs in the fifth and sixth year or more. Buying the warranty when buying the car is easier, of course; you can include the cost in your monthly payment. And most warranties are transferable if you decide to sell.
The length of the warranty varies by manufacturer, but many offer full warranties of three years or 36,000 miles, whichever comes first. Powertrain warranties can last up to 60 months or 60,000 miles. The extended vehicle warranty usually begins after the manufacturer's warranty expires, but in some cases, the two protection plans overlap. Since the factory warranty will end at some point, you might consider purchasing an extended warranty to help defray unexpected expenses, but do you really need it? A vehicle service contract, commonly known as an extended warranty for car owners, is an optional protection plan that you can purchase to help cover repair costs.
When it comes to extended warranties for cars, there are a few things to consider before making a decision. One reason why companies use the extended car warranty waiting period is for YOUR benefit. You have 30 full days (sometimes more, depending on the policy you choose) to ensure that you have the right coverage. If you decide that you're not happy or interested, we'll cancel and refund your money.
If you decide that an extended warranty makes sense for you, the next question is when to buy it. The best time to buy an extended warranty is usually when the original manufacturer's warranty is about to expire. This way, you can avoid any interruption in coverage. Keep in mind that you may be able to get a better deal on an extended warranty if you buy it before your car reaches a certain age or mileage limit.
There's no doubt that it's possible to purchase an extended warranty after you've purchased your car. Vehicle service contracts, often referred to as extended warranties, are a tempting option for consumers buying a used car or for those who want to extend coverage for a new car. These are typically included in certified used cars sold by dealerships, along with a thorough inspection. Read about Honda extends its status from certified used vehicles to 10-year cars.
Factors such as the make, model, mileage, and age of the vehicle help determine how much an extended car warranty will cost. Buying an extended warranty at a car dealership can also place significant limitations on where you can get your car serviced. Depending on your provider, different coverage plans allow you to customize your extended warranty to meet your needs. An extended warranty for a new car with fewer miles may cost less than a warranty for an older vehicle with more mileage.
An extended CARCHEX vehicle protection plan, for example, allows you the freedom to repair your vehicle wherever you want. Some manufacturers also offer warranties for cars that have been through a certified used vehicle (CPO) program. If what you like is a car that has a very bad reputation for breaking down right after the warranty period, and you're comfortable understanding the legal language of the warranty, maybe an extended warranty is right for you. With an extended waiting period for your car warranty, you can't use your policy until your car breaks down.
It's important to understand all of these factors before making a decision about whether or not an extended car warranty is right for you and your vehicle.
