An extended warranty is a protection plan for your car.
It covers repairs and replacements before or after the manufacturer’s warranty expires.
Many wonder about the value an extended warranty can add to their new or old car.
There are many benefits to having an extended warranty, particularly if it is from a third-party provider.
One benefit of an extended warranty is that it can save you money on repairs.
If your car needs a repair covered by the warranty, you will not have to pay for it out of pocket.
This can be significant savings, especially if the repair is expensive.
Another benefit of an extended warranty is that it provides peace of mind.
If something goes wrong with your car, you will not have to worry about the high cost of repairs.
The extended warranty will take care of it.
How an Extended Warranty Adds Value
An extended warranty can add value to your car in several ways.
First, it can save you money on repairs.
If you have an extended warranty and your car needs a repair covered by the warranty, you will not have to pay for it out of pocket.
Second, an extended warranty can increase the sale price of your car.
One of the main reasons people prefer to purchase from dealerships is the peace of mind offered by a seller with recourse for faulty products.
When selling your car with a warranty still in place, you can transfer that peace of mind to the buyer and sell at a higher price as a result.
And finally, an extended warranty can give you negotiating power with the dealership when it comes time to trade-in for a new car.
Save on Repairs with An Extended Warranty
You will not have to pay for repairs out of pocket if you have an extended warranty.
According to Consumer Reports, the average cost of a major repair is $1,186.
On average, cars will require one major repair every four years.
This means that over the life of a car, you can expect to pay $4,744 in major repairs.
If you have an extended warranty that covers 50% of the cost of repairs, you will save $2,372 over the car’s life.
This can save you lots, helping you retain value beyond your vehicle.
Warranty providers, like Protect My Car, can negotiate with repair shops to get you a discounted rate, saving you money.
Selling Your Car with A Warranty to A New Owner
When selling your car with a warranty still in place, you can transfer that peace of mind to the buyer and sell at a higher price as a result.
The buyer knows that if something goes wrong with the car, they will not have to worry about the high cost of repairs.
The extended warranty will take care of it.
This can be a significant selling point, particularly for buyers on the fence about your car.
An extended warranty can give you the negotiating power you need to sell your car at the price you want.
This can be done easily with a quick phone call to your warranty provider and giving them the information you receive from the buyer.
Once the warranty is transferred, the new owner will be covered for repairs, just as you were.
Transferring Your Extended Warranty When You Trade-In
You can transfer it to the new owner if you have an extended warranty when you trade in your car.
This will give them the same benefits you had, including savings on repairs and increased peace of mind.
When you trade in your car, be sure to ask the dealership if they will accept the transfer of your extended warranty.
If they do, you will need to provide them with the contact information for your warranty provider.
The dealership will then take care of the transfer process, and the new owner will be covered.
An extended warranty can be a valuable addition to your car.
It can save you money on repairs, increase the sale price of your car, and give you negotiating power when trading in for a new car.
When considering an extended warranty, shop around and compare different providers to find the best coverage for your needs.
For example, if you look at the costs of repair on vehicles over time, you’ll see that many repairs happen right after the manufacturer’s warranty expires.
In this case, an extended warranty can save you a lot of money.
Be sure to read the fine print and understand what is covered and what is not before you purchase an extended warranty.
This will help you make the best decision for your needs and ensure you get the most value for your money.
At Protect My Car, you will see that we offer coverage for up to 10 years or 200,000 miles.
This is one of the most comprehensive plans available and can give you the peace of mind you need when driving your car.
We also offer a $0 deductible, so you will not have to pay anything out of pocket when you need to use your warranty.
Our team is available 24/7 to help you with any questions about your extended warranty or repairs.
Call us today to learn more about how we can help you protect your car.
Down the Road with Warranties
If you are looking for a way to save money on repairs and increase the sale price of your car, an extended warranty is a great option.
Shop around and compare different providers to find the best coverage for your needs.
There are extended vehicle warranty plans available for every person and situation.
No car is too new or old to find a great plan.
When you find the right provider, you can have peace of mind knowing that your car is protected.
An extended warranty is a great way to protect your investment and keep your car on the road for years.
Protect My Car is a vehicle service contract provider, also referred to as extended car warranty provider, with multiple coverage plans for new and used vehicles with low to higher mileage to help meet your needs and budget. Protect My Car customers work directly with the company for customer service, claims administration and contract financing. No middleman or the need for third-party approval. All Protect My Car Plans include best-in-class claims and customer support, 24/7 roadside assistance, free oil changes and tire rotations and the exclusive PMC Rewards Plan, providing daily deals, giveaways, coupons, and thousands of ways to save money every day. Protect My Car has a 30-day money-back guarantee.