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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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Tips on Purchasing an Auto Warranty Plan

If you are about to invest your hard-earned money in a new or used car, you may want to consider protecting your investment by purchasing an extended warranty.

An extended warranty is a service contract that covers the cost of repairs after the manufacturer's warranty expires. Unlike the manufacturer's warranty, which is included in the price of the car, an extended warranty is an additional cost and can be purchased from either the manufacturer or from a third-party company that specializes in auto service repair contracts.

You don't have to wait until your manufacturer's warranty is about to expire before considering purchasing an extended warranty. In fact, you can negotiate the addition of an extended warranty into the price you pay for your car.

Purchasing an extended warranty from the manufacturer offers several advantages over third party companies. Under a manufacturer's warranty, you get automotive factory technicians to work on your vehicle. Repairs are done while authorization for them is being obtained with no wait time for you. You won't need to file claims for reimbursement or lay out money up front. Finally, if you decide to sell the care, a manufacturer's extended warranty is transferable to the new owner.

Many dealerships sell both the manufacturer's extended warranties and third-party warranties and will try to sell you whichever makes them the most profit. Try to do your research online first so that when you negotiate with the dealership you know what you want and what is available to you. Most extended warranties, regardless of who is selling them, offer different levels of coverage. Typically, there are three levels 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 expensive electrical systems repairs.

The benefit of purchasing an extended warranty when you purchase the vehicle is that you can roll the costs of the extended warranty into your financing and can pay for it as part of your monthly payments rather than pay for the warranty coverage in one lump sum later.

Regardless of when you decide to purchase an extended warranty, be sure to first go online and research different coverage options and price points. Don't forget to compare options like level of coverage, price and duration of the policy.

Purchasing an extended warranty can be a good investment if you plan to keep the car past the life of the original manufacturer's warranty. If you do your research and plan ahead, you can get a plan that's an investment and not a waste.

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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