How much does it cost to put a warranty on a car?

Coverage options vary widely, and the cost you'll pay varies depending on what the plan covers and the make and model of your car. In addition, if you transfer the cost of the collateral to your auto loan, you'll pay interest and possible fees for it. CarShield offers extended warranties for vehicles up to 200,000 miles and announces its Platinum plan as its best choice of coverage for high-mileage cars. The best way to create a reasonable approximation of a cost estimate so that you can understand whether an extended car warranty is worthwhile is to calculate the prices that were quoted to you from the supplier's estimate, look for any hidden fees in the sample contract, and replace the expected annual maintenance of the vehicle costs with the price of your deductible.

For more information, see WalletHub's guides on mechanical breakdown insurance and extended warranties. For drivers with reliable cars and the ability to pay for repairs, used car warranties usually don't offer much value compared to expense. To help you better understand how the cost factors for warranties work, the following table shows prices for auto, home, and computer (laptop) warranties. Car warranties do not cover damage caused by accidents, thefts, weather conditions or similar factors that have nothing to do with the quality of the car.

If you call for a quote, you may be offered a discount if this is your first time calling, if you buy multiple warranties, or even if you mention that you are comparing the costs of the extended car warranty between multiple companies. In most cases, used cars only qualify for extended warranties that cover the basic components of the vehicle, such as the engine and transmission, rather than all parts and systems. Find out how little Endurance's extended vehicle protection can cost you and how much you can save on car repairs. The most basic extended warranties on used cars cover the main power system, while the more comprehensive warranties will extend to all parts and systems in the car.

Bumper-to-Bumper coverage generally pays for mechanical or equipment breakdowns, defects or problems with certain auto parts, and labor costs. The cost of the extended car warranty will depend on the age and mileage of your vehicle as well as the make and model, so you may end up paying a higher extended car warranty cost if you have an older used car. If you learn that your car was recalled to correct a safety defect 22 years ago, you can still take it to the dealer to have the problem fixed at no cost. With the ability to offer multiple plans that fit your needs, one of the strengths of extended third-party warranties is flexibility.

Older vehicles are more likely to have mechanical problems, and if your car suffers a catastrophic breakdown, you could face repair costs of thousands of dollars. There are reputable companies that offer reliable guarantees that can protect you from the cost of unexpected repairs.

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