Did you know that it is posible purchase an extended warranty at any time?
You don’t have to wait until the original warranty expires.
In this post, we’ll discuss the benefits of extended warranties and show you how to purchase one.
We’ll also talk about some of the exclusions and limitations of extended warranties.
An extended warranty is a service contract that provides coverage for repairs or replacements beyond the term of the original manufacturer’s warranty.
These contracts are offered by manufacturers, dealerships, and third-party providers.
So, whether you’re thinking about purchasing an extended warranty or just want to learn more about them, keep reading!
Purchase an Extended Warranty at Any Time
Although you can purchase an extended auto warranty at any time, waiting until the original factory coverage has expired will generally mean paying a higher premium rate.
The most advantageous time for purchase may be near the end of the original warranty term.
At that point, you can do some shopping around to find out what types of coverage and rates are available for your year and model vehicle.
This will give you a basis for comparison from one policy to another. It’s important, though, that you carefully choose where to purchase an extended warranty policy.
While the selection of providers is very large, many will most likely not fit your requirements for a quality warranty provider.
These contracts are typically filled with fine print that will ensure that your policy isn’t worth the price of the paper it’s printed on.
Avoid these companies at all costs and opt for a reputable and trustworthy one!
The Two Main Kinds of Car Warranties
There are two main types of extended car warranties: third-party extended warranties and manufacturer’s extended warranties.
Third-party extended warranties are offered by companies that are not related to the vehicle’s manufacturer.
These companies typically offer more comprehensive coverage than manufacturer’s extended warranties.
All modern cars are offered with a warranty from the manufacturer’s end which ensures coverage in case a major part of the drivetrain, powertrain, or key electrical system fails unexpectedly within the warranty period.
The basic warranty offered by manufacturers can last anywhere between one to five years.
Manufacturer Extended Warranty
A manufacturer’s warranty extension is available from the automobile maker, such as Ford or Chevrolet.
It may be purchased at the dealership.
For example, Ford’s new automobile warranty includes a 3-year/36,000-mile bumper-to-bumper guarantee as well as a 5-year/60,000-mile engine.
You can get one of Ford’s vehicle protection plans before the manufacturer’s warranty runs out, which will extend coverage by 8 years and 150,000 miles.
The main benefit of getting an extended warranty from a manufacturer is that the use of genuine parts is typically guaranteed, and the repairs are performed by factory-trained technicians.
These contracts also offer vehicle-specific coverage.
Third Party Extended Warranty
A third-party extended warranty is sold by a company unaffiliated with a car brand.
Like manufacturer warranties, third-party providers offer different coverage levels ranging from basic powertrain coverage to full bumper-to-bumper coverage.
The main benefit of a third-party warranty is that they are typically less expensive than manufacturer-backed contracts.
In addition, many third-party warranties offer coverage for used and high-mileage vehicles, which is often excluded from factory coverage.
However, third-party providers typically offer more levels of coverage to choose from than a manufacturer.
For example, Ford has four levels of coverage, while third-party extended warranties can offer 8 or more levels of care.
With a third-party extended warranty, you can usually take your vehicle to any repair shop, which offers more flexibility in the event of a breakdown.
Third-party extended warranties also tend to have more perks and add-ons than a manufacturer.
Some extended auto warranty plans offer key fob replacement, identity theft protection, and tire replacements.
What are Extended Car Warranties Used For?
Extended warranties are a service contract offered by the manufacturer or a third-party vendor that extends the manufacturer’s warranty coverage for the repair or replacement of parts that may fail within the warranty period.
Extended warranties are a great way to protect your investment in your car, but many people don’t realize that you can purchase them after your factory warranty expires.
Purchasing one can extend the duration of vehicle warranty coverage in certain situations.
An extended warranty can cover repairs for items such as the engine, transmission, air conditioning, and electrical system.
It can also cover the cost of replacement parts and labor. In some cases, an extended warranty may even cover towing and rental car expenses.
When to Consider an Extended Car Warranty?
When your car starts to rack up the miles, you may start to worry about expensive repairs.
An extended car warranty can give you peace of mind by covering the cost of certain repairs.
But how do you know if an extended warranty is right for you?
There are a few things to consider when deciding whether to purchase an extended warranty.
First, think about your driving habits.
If you tend to keep your cars for a long time, or put a lot of miles on them each year, an extended warranty may be a good idea.
On the other hand, if you trade in your car every few years, or if you only use it for short trips around town, you may not need the coverage.
Next, consider your budget.
An extended warranty will add to the cost of your car, so make sure you can afford the additional expense.
You’ll also want to compare different plans to find one that fits your needs and budget.
Finally, consider the reputation of the warranty provider.
Make sure you choose a company with a good reputation for customer service and claims assistance.
You’ll want a company that’s easy to work with and will be there when you need them.
What Do Extended Car Warranties Cost?
According to a study by the American Council for an Energy-Efficient Economy, the average cost of an extended warranty is between $1,600 and $4,500.
An extended warranty is an insurance policy on your vehicle, and like all insurance policies, it has a deductible.
The amount of the deductible can vary depending on the type of warranty and the provider, but it is typically between $100 and $500.
Some providers offer zero-deductible plans, but these are usually more expensive.
The most important thing to remember is that an extended warranty is only worth the price if you actually use it.
Keeping your vehicle running is what we do at Protect My Car. We offer a number of protection plans, built specifically for your vehicle’s age and mileage. All at a price that fits your budget. Never be caught off guard again by expensive, unexpected car repair bills with a coverage plan from Protect My Car.