However, at CARCHEX, we review and research a wide range of auto warranty packages to ensure you get the best protection plan for your specific needs. The last thing a buyer wants is to end up paying more than average repair costs or spending more on a warranty plan for the coverage you already get from your auto insurance policy. They are a better option than lesser-known brands that claim to have guarantees for all brands. And the cost of repairs among respondents who used the warranty was generally lower than the cost of the warranty.
For example, if a person chooses to get “comprehensive” coverage, the cost of coverage will be somewhat higher than a basic package, which covers only specific items. These include models made by luxury brands with a reputation for poor quality, crazy repair costs, and a badge that puts you front at the valet stand. An extended warranty should keep more money in your pocket over the long term than individual repairs and service costs would entail. A manufacturer's warranty for your new car can protect you from unexpected repair costs once you leave the dealer showroom.
Aftermarket Car Warranty: Despite the fact that car dealerships are well known for offering this service to customers, even independent companies and third parties are also starting to offer extended car warranties to vehicle owners. It should also be noted that if it is an old vehicle, the value of extended vehicle protection far outweighs the cost. It is difficult to predict the expected repair costs and long-term reliability of a vehicle, but data from RepairPal can help us better understand the average costs and performance of a vehicle in the future. Like any other type of vehicle, factors such as the age and mileage of the vehicle and its level and period of coverage are the most important factors in determining the cost you will pay for an extended warranty.
And you can see from the quotes above that Protect My Car sometimes has the lowest total cost of extended car warranty among major providers. The model year of your car affects whether you can get an extended warranty and how much the warranty costs. Warranty length varies by manufacturer, but many offer three-year or 36,000-mile warranties, whichever comes first. We searched many Internet forums for the costs of these plans and found an interesting quote from the owner of a four-year-old BMW 328i with 25,000 miles.