Many people will argue that buying an extended warranty for cars to protect your car from any mechanical breakdown simply isn’t worth the hassle. However, this simply isn’t the case by shopping around you could not only get the right level of coverage but for a fraction of the cost you first thought.
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In this article we take a look at what not to do when it comes to thinking about getting extended warranty coverage for your vehicle. Then we look at what you should in fact be doing.
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So what shouldn’t you do when it comes to thinking about getting extended warranty coverage for a vehicle you own?
1. You shouldn’t purchase the coverage from the dealer when you purchase the car especially if it is a new one. The extended warranty offered by dealers are usually much more expensive than what you can find online. Remember that in most cases the manufacturer of the vehicle will provide a bumper to bumper warranty that is valid for either 3 years or 36,000 miles. However, there are some car companies now who are offering 7 year warranties with their vehicles. If you do take out extended warranty with a dealer it will only begin once the original warranty has run out.
2. If you are intending to purchase the extended warrant plan for your car from your dealer then make sure that it is the one that manufacturer of the vehicle backs. Plus make sure that it is the type that all dealers of the vehicle you are purchasing will back. If the warranty you choose it provided by a third party then make sure you get it from a reputable warranty company that allows you to choose any repair shop you prefer. Also be sure to read the service contract carefully for the coverage information.
So what should you do when it comes to you shopping for extended warranty for cars?
Do not limit yourself to getting quotes from dealers close to where you live but in other regions of the country where you live. Although dealers in cars offer extended warranty plans how much you pay can vary from one to another. This is because they will put a mark up on the original price to provide them with some profit. If the dealer knows that you are shopping around for coverage then of course they may be more willing to haggle on the price in order to get you to take out theirs rather than another. You should get free quotes online and compare that with what the local dealer offers.
Compare coverage plans and pay attention to not just the costs for the warranty but also the deductible. Is it easy to report claims when you need to? Some policy may include roadside assistance or a rental car while your car is in for repairs.
Also by shopping around you can use the previous quotes you have received in relation to extended warranty for cars to negotiate better terms with the next dealer on your list. So eventually you could end up reducing how much you spend by as much as 50% in relation to their mark up prices.
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