Typically, the cost of an extended warranty is added to your monthly car payment. However, one drawback is that you may end up paying interest on the collateral and, in the long run, it becomes more expensive. Although Geico does not have an extended warranty plan, it does sell mechanical breakdown insurance, which is similar to an extended warranty and covers repairs to all mechanical parts of the vehicle. You don't necessarily need an extended warranty right away, especially if your vehicle is still covered by the factory warranty.
A used car warranty is a type of extended warranty that can prevent drivers from paying for costly repairs out of pocket after the manufacturer's warranty has expired. Considering the numerous complaints against you through the BBB, you may find that a better option is to put the money you would have spent on an extended guarantee in a savings account every month. For policies where you pay a lower deductible, you'll pay a higher premium, while a higher deductible means a lower premium. This is just one aspect to consider when determining which extended warranty is right for your lifestyle and budget.
Also, know that an extended dealer warranty is usually more expensive than a third-party option. Some people give up extended warranties like the plague, while others find something of value or peace of mind in extended coverage. The best extended vehicle warranties from suppliers such as Endurance and CARCHEX were among the most expensive. The value of a provider's extended warranty depends not only on the cost, but also on the quality of coverage and exclusions.
If you are interested in protecting your vehicle in the long term, you may be interested in an extended car warranty. Before attempting to analyze the average cost of an extended car warranty, it is essential to understand that several criteria will determine the final cost of coverage. On the other hand, extended powertrain warranties cover only the essential elements necessary for a vehicle to function and are more expensive to repair. Before making the final decision on whether you really need extended protection for your car or not, there are a few factors that need to be considered in determining whether you would actually benefit from the additional investment or not.
CarShield offers vehicle service contracts, better known as extended warranties, that are designed to cover auto repair costs resulting from mechanical problems.