An extended car warranty can protect you from unforeseen repair costs and provide coverage not provided by the original manufacturer’s warranty.
You may think that there is no need to purchase an extended warranty for your vehicle. But when the original manufacturer’s warranty expires, you pay expensive repair costs.
Here are some reasons why extended warranties are worth it:
1. Impressive cost savings
Many people question whether extended car warranties are worth the money because they must be purchased separately from your vehicle. You can usually save a significant amount with an extended car warranty.
An extended warranty might save you hundreds of dollars in expensive parts if you buy a luxury vehicle such as a Lexus or BMW. Replacing a BMW 328i cylinder head can cost $ 11,000, which is several times the price of an extended warranty.
While the prices of Ford, Chevrolet, and Toyota vehicles may be easier to swallow, costs rise rapidly as your car’s reliability deteriorates over time, a process that is exacerbated by future repairs. Whether you have a new Aston Martin or a Toyota with over 60,000 miles, the extended warranties are worth the price.
2. Peace of mind
Whether you own a used or new car, extended warranties are perfect if you need extra coverage or can not afford unforeseen repair costs. After the manufacturer’s warranty has expired, it can be challenging to cover the costs of necessary repairs, spare parts, and labor without an extended warranty.
Purchasing an extended car warranty eliminates this source of anxiety and protects against costly repairs. It also saves paperwork and negotiations with technicians at a reasonable cost.
3. Overlooked Benefits
There are more minor, more familiar ways in which mechanical warranties prove their worth to help customers through stressful situations. Roadside assistance, car rental reimbursement, towing, travel protection, and affordable payment plans are just some of the benefits you get with a car warranty from most car warranty companies.
Sometimes roadside assistance is also offered 24/7, so you do not have to worry about mechanics or housing in the event of a mechanical defect.
Benefits of extended car warranties
- Affordable payment plans
- Roadside assistance around the clock
- Refund of rental car
- Travel protection
- Catering and accommodation
- Transferable packages
4. Unmatched flexibility
Unlike factory warranties, extended vehicle warranties offer unmatched flexibility. Many car warranty companies now allow you to take your car to an authorized workshop. In contrast, a manufacturer’s warranty usually requires the vehicle to be taken to a specific dealer.
Buying a third-party warranty also allows you to shop around for the most affordable coverage options. Some companies may also offer you several premium warranty options.
5. Higher resale value
Many extended car warranties can be transferred for a small fee, which means you can provide complete vehicle protection to the new owner. Individual buyers may see additional value in their vehicle due to their service contract, resulting in a higher interest rate and a higher total selling price.