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When to Buy An Extended Auto Warranty Plan

New cars generally come with a warranty. Typically, that warranty will expire after a specified number of years or a specified number of miles, whichever comes first. An extended warranty is actually a service contract that helps cover the cost of repairs after the manufacturer's warranty expires. Purchasing one or not purchasing is strictly up to the buyer. When to purchase an extended warranty is also up to the buyer. You can purchase an auto extended warranty at any time.

One option is to purchase an extended warranty when purchasing the car. This offers a couple of advantages. First, it gives you negotiating power to ask for a lower price on the cost of the extended warranty. After all, the dealer wants to sell the car and will make more profit from the sale of the car than from the sale of the extended warranty. Chances are, if he has to come down on the price of the extended warranty in order to sell the car, he will. Other advantages include being able to roll the cost of the extended warranty into the financing for the car and spreading the payments out over time rather than paying for the extended warranty in one lump sum.

Extended warranties do not have to be purchased with the car. In fact, since an extended warranty is a service contract, it can be purchased either during the life of your manufacturer's warranty or after that warranty has expired. Be aware though that you may end up paying more for an extended warranty if you do wait until the manufacturer's warranty expires.

These warranties can be purchased through a variety of companies. Both manufacturers and third-party dealers sell extended auto warranties.

Before making the decision on when to buy an extended warranty, go online and research what your options are. Price and coverage will vary depending on a variety of factors. Duration of the warranty, extent of covers and warranty dealer will all affect price. Make sure you compare the duration, coverage and price of any warranties you are interested in purchasing.

Be sure to also read any fine print before purchasing and look for other differences between policies which may affect price. For instance, look for differences in deductible amounts, whether there are limits on where you can get the car fixed and whether the warranty is transferable to a new owner if you sell the car before the warranty expires.

Purchasing an extended warranty can be a smart investment on a new or a used car. Be sure to go online and do your research before purchasing an extended warranty so you get the best deal you can.

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Auto Warranty In The News

Xcelerate to sell third-party warranties for EVs including Teslas

DETROIT (Reuters) - Auto leasing and financing company Xcelerate said on Thursday it has launched the first U.S. third-party extended warranties for electric vehicles, including those of market leader ...

Published:  Thu, 14 Feb 2019 09:06:00 GMT



The Amynta Group Accelerates Transformation of Its Auto Warranty Business

DALLAS, Feb. 11, 2019 /PRNewswire/ -- The Amynta Group, an industry leading group of warranty, managing general agent and specialty risk companies, today announced that Adam Pope, President of its War...

Published:  Mon, 11 Feb 2019 08:56:00 GMT



Should I Really Avoid a Car in the First Model Year

Is the As-Is a standard practice on a used car" It is common practice for used cars to be sold "as-is" especially if they are beyond their warranty period, but that doesn't seem to be the ...

Published:  Fri, 15 Feb 2019 06:11:00 GMT



7 On Your Side gets 'worthless warranty' refunds for New Jersey car buyers

After 7 On Your Side aired a story in November about a New Jersey woman who got billed for a car she didn't own, several other viewers wanted help solving their beefs with the same local car dealer.

Published:  Fri, 08 Feb 2019 13:35:00 GMT



Driving a Tesla Model 3 Performance in the Cold Could Void Tire Warranty

One owner told The Drive that he took delivery of his car at the Tesla Store in Salt Lake City on December 10th, 2018, which had a high of 39 degrees that day. According to the owner, his delivery adv...

Published:  Thu, 14 Feb 2019 08:14:00 GMT



These are the top car-buying mistakes to avoid, according to Edmunds

you also spare yourself a marathon day on a car lot. Many shoppers tell us about the killer deals they got on their cars, then explain how they wound up spending those savings on gap insurance, an ext...

Published:  Thu, 14 Feb 2019 02:00:00 GMT



Don't spend your tax refund with a shady car dealer

If you negotiate any changes to the warranty coverage, or the dealer agrees to make repairs or to cancel the sale if you're not satisfied, be sure those provisions are written on the Buyers Guide that ...

Published:  Fri, 15 Feb 2019 09:08:00 GMT



Tools, Equipment Purchasing Driven By Warranty, Word Of Mouth, Auto Care Association Study Says

The Auto Care Association has announced the release of its latest market intelligence research publication, "Purchasing Trends Study - Tools and Equipment 2018." The report defines and explores the ke...

Published:  Mon, 11 Feb 2019 07:48:00 GMT



Making car manufacturers honour your warranty

Readers often write me about car problems. Since I'm not an expert, I consult with the Automobile Protection Association, a well-known consumer group founded almost 50 years ago by Phil Edmonston (lat...

Published:  Tue, 05 Feb 2019 03:54:55 GMT



When Buying A New Car Is A Better Deal Than A Used One

However, when spread out over the length of a car loan, the added amount can be largely offset by getting an additional year of warranty coverage, financing at a lower interest rate, and any dealer in...

Published:  Thu, 14 Feb 2019 07:54:00 GMT




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