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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.

Goldman Sachs explores sale of auto warranty business Safe-Guard -sources

Aug 21 (Reuters) - Goldman Sachs Group Inc's buyout arm is exploring the sale of Safe-Guard Products International LLC, which could value the auto warranty company at more than $1 billion, including ...

Published:  Wed, 21 Aug 2019 08:59:57 GMT



Goldman's buyout arm considers selling auto warranty business - Reuters

Goldman Sachs Group's (GS +0.3%) buyout arm is looking at selling Safe-Guard Products International, which could value the auto warranty company at more than $1B including debt, Reuters reports ...

Published:  Wed, 21 Aug 2019 12:45:00 GMT



Read fine print on your home warranty before sale closes, not when something breaks: Money Matters

J.W., Berea A: Well, based on what I hear from readers, it's not uncommon for many home warranty companies (and car warranty companies) to make it difficult for customers to file claims and get ...

Published:  Sun, 18 Aug 2019 03:00:00 GMT



Global Extended Warranty Market Report 2019-2025 by Technology, Trends, Top Key Players & more

The key players covered in this study Allianz Global Assistance American International Group, Inc. Amtrust Financial Services, Inc. Asurion LLC Chubb Limited Assurant, Inc. SquareTrade, Inc. The ...

Published:  Tue, 20 Aug 2019 05:23:00 GMT



Palmer Administrative Services Stays Ahead With The Best Car Warranty Programs

Ocean, New Jersey, Aug. 12, 2019 (GLOBE NEWSWIRE) -- The country's leading name in auto protection, Palmer Administration offers a hose of Palmer Administrative Services. The company's core objective ...

Published:  Mon, 12 Aug 2019 10:50:00 GMT



Top Companies for Extended Warranties for Cars Over 100k Miles

Purchasing an extended warranty for a car with 100,000 miles has it advantages. Learn what providers have the best protection for older vehicles, including why we choose CARCHEX. See which vehicles ...

Published:  Mon, 19 Aug 2019 07:33:00 GMT



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