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      October 22, 2017

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How Much Should You Pay for an Extended Auto Warranty

Tips on Purchasing an Auto Warranty Plan

When to Buy an Extended Auto Warranty Plan

 

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How Much Should You Pay for an Extended Auto Warranty?

When purchasing a car, whether new or used, you will be faced with the decision of whether to purchase an extended auto warranty. If you've done your research and have decided buying an extended auto warranty is a purchase you want to make, now it's time to consider how much you should pay for that auto warranty.

The price of extended auto warranties can vary greatly. The price depends on a number of factors including the following. The amount of coverage you want in your policy will affect price. There are three tiers of coverage: The first level covers the power train. The second covers the power train plus several other components. The last offers the highest level and is referred to as comprehensive or bumper-to-bumper coverage, which includes electrical systems, which can be expensive repairs. Each of these levels will be at a different price point with comprehensive being the most expensive.

Another factor which determines price is the duration of the policy. Duration of the policy is usually quoted in terms of mileage or years. That is, you may purchase a policy that is good until 150,000 miles or 10 years.

Who sells the policy is another factor that can affect price. Both auto dealerships and third-party companies sell extended auto warranties. Auto dealerships may sell both the manufacturer's warranties and third-party policies.

When purchasing a policy from a dealership, whether it's a manufacturer's policy or a third-party policy, you have room to negotiate if you're purchasing a car at the same time. Dealerships may simply offer you whichever policy is most profitable for the dealership. Be prepared before you walk in. Make sure you have researched policies online and can tell the dealer the coverage, duration and how much you're willing to pay and see what he offers. If he thinks you'll walk away from the sale, he'll be more willing to negotiate the price of the extended warranty. Another negotiating point will be how you pay for the extended warranty. If you make the purchase when purchasing the car, you can negotiate rolling that cost into any financing rather than paying a lump sum charge.

You do not have to purchase an extended warranty at the time of your car purchase. Many policies can actually be purchased after the original manufacturer's warranty expires, however, there might be a penalty cost.

Regardless of when you purchase an extended auto warranty, go online and research different price options, policy coverage and duration before going to the dealer or talking with a third party company about purchasing an extended auto warranty. The more prepared you are, the more you can save.

Before you buy an extended warranty for your car, make sure you read the fine print

When you buy a used car, the salesman these days almost always pitches an extended warranty. And they can be a good idea, given that a car repair can cost from $500 for a fuel pump to $3,000 for a transmission. But one man discovered a big catch with some ...

Published:  Wed, 18 Oct 2017 20:07:00 GMT



What Happens If Your Used Car Is a Lemon

In the past, I've warned you about buying used cars "as-is" and pointed out how doing so can leave you without a remedy if the car is defective. But what about used cars sold with warranties If those turn out to be lemons what can the buyers do

Published:  Thu, 19 Oct 2017 00:49:00 GMT



CarMD and CARCHEX partner to provide drivers extended warranty coverage savings

"This partnership enables us to connect with CarMD's audience of vehicle owners who seem to appreciate insight to help reduce the cost of car ownership," CARCHEX ... maintenance and repairs, as well as warranty, recall and other cost of ownership ...

Published:  Fri, 20 Oct 2017 10:53:00 GMT



It's A Myth That Only New-Car Dealers Can Service Vehicles Under Warranty

(NAPSI)-True or false: Until your vehicle is out of warranty, it must be serviced by the new-car dealer or the factory warranty will be void. Although many people would have answered "true," the correct answer is "false," according to the Car ...

Published:  Wed, 11 Oct 2017 05:33:00 GMT



Car dealers jacking up add-on prices, discriminating against Hispanics, study finds

Car dealers jacking up add-on prices, discriminating against Hispanics, study finds A national study warns dealer prices of add-on products - such as extended warranties and window etching - can be excessive and discriminatory. Check out this story on ...

Published:  Sat, 21 Oct 2017 13:19:00 GMT



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