Every new car that buyers acquire from a reliable dealer’s showroom comes with a valid manufacturer’s warranty. This is a legally-binding assurance by car makers to customers who purchase their products. The policy states they will replace or change all faulty parts in their cars in the event of mechanical failure. Moreover, they will provide this service free of cost. It is for a specific period and contains certain conditions that car buyers require to accept. If new car owners experience a breakdown after this time frame, the manufacturers will not be responsible. They will have to bear the repair costs themselves. In this situation, in order to avoid high unexpected costs for these repairs, they can choose to buy an extended warranty.
What should car owners consider at the time of buying the best-extended warranty?
Extended warranty refers to an optional plan which car owners can buy after original manufacturers’ warranties expire. They can purchase it from a car manufacturer, a reliable dealership, or a third-party company. It helps them to pay for certain expensive car repair costs which they need to incur. However, they should remember that all extended warranties come with their own set of terms and conditions. Almost all extended warranties do not provide the same kind of coverage for routine maintenance or roadside assistance. For instance, car owners need to bear the expenses for oil changes, installing new brakes, or replacing old tires.
Owners should consider the following five factors when shopping for the best extended warranty for their cars:
1. They read the terms and conditions of the warranty plan thoroughly to understand its coverage,
2. When buying a third-party extended warranty, they need to ensure the company selling it is reliable,
3. Companies selling extended warranties often offer attractive discounts to certain categories of car owners,
4. Almost all extended warranties come with additional benefits or perks which car owners can avail at no extra cost, and
5. Car owners need to ensure the price they pay is reasonable and corresponds to the coverage options they get.
Benefits of buying an extended warranty for car owners
Car owners can save a lot of money by buying an extended warranty that suits their specific needs. They do not have to worry when their cars need expensive repairs after the expiry of the original manufacturer’s warranty. The service provider selling the extended warranty to them will cover the costs. They will be responsible for paying the deductible if their plans contain one. This is a better option to incur rather than bearing the entire expenses themselves.
Buying the best extended warranty for the right price can help car owners save money. They do not have to bear the costs of unforeseen expensive repairs on their car in the future. The service provider they buy it from will take care of these costs. However, they need to be very careful when buying an extended warranty. They should read the conditions to understand their coverage options and any additional benefits available in order to get value for money and the best deals.