Without a doubt, a car warranty is among the best investments you can make for your car, so much so to the point that it comes as a must-have these days. Considering the frequency of road accidents – nature-induced or out of human error, alongside the sheer inconvenience of paying big for repair and maintenance work, having a car warranty is like having a safety net. Cushioning you from all your bad falls, a car warranty allows you to incur less damage as you recover easier than without it. Of course, the greater the fall, the larger the cushion should be – such should also be the case when you are planning to invest on a car warranty.
But why the hesitation over purchasing car warranty?
Despite the proven convenience of investing in a car warranty that speaks according to your own terms, others have been put off that idea because of the sheer costs that it entails. By default, insurance companies offer car warranty service contracts at fixed one-time prices, which can be costly depending on your coverage. What first appears as a financially-convenient option can emerge as expensive and impractical to some thanks to such a setup, hence leading to the old-fashioned idea that individual repair work is far more cost-efficient. That, alongside the mentality that the necessity of repair work does not come all too often.
But what adherents of such thinking fail to understand is the fact that the amount paid for every individual repair work done on your car can top that of a suitable car warranty. While there is truth to the premise that repairs can come infrequently relative to the price paid for a car warranty service contracts, the fact remains that one-time payments do not have the cushioning effects of a car warranty. That means the amount paid for a car warranty serves as a protective mechanism for your car, as manifested through claims. However, the same cannot be said for the accumulation of amounts paid for various individual repair work, which can only grow further for every repair work that comes along.
Monthly installments as a convenient choice
Given the unbeatable convenience a car warranty provides, purchasing it through a one-time payment remains the sole trouble that you should worry about. But worry not, as insurance providers know very well enough how inconvenient purchasing a car warranty in one go can be. The option of paying for a car warranty in monthly installments can surely appeal to you if you are looking to enjoy the benefits of a comprehensive repair and maintenance coverage without burdening yourself financially. That, for sure, can truly work in your favor regardless of the frequency of repair work your car requires.
For your reference, consider this brief yet informative breakdown of the benefits of purchasing your car warranty via monthly installments:
- You are informed of any applicable interest rates (or its absence) beforehand, hence the set amount assigned to you monthly
- With the set monthly amount, you can plan your budget accordingly to accommodate your car warranty payments
- You can avail of claims against your car warranty even if your monthly payments are still ongoing; such is practically impossible in the case of one-time payments for individual repair work
- Subject to your preferred coverage, your car warranty provides you with a series of additional perks that come with the convenience of monthly installments (like free oil changes and tire rotations)
The foregoing benefits attest to the appeal of purchasing a car warranty trouble-free via monthly installments. Through easier and predictable budgeting, as well as the immediate availability of services included in the coverage, a car warranty paid monthly in set amounts should allow you to get by with your car smoothly without worrying about costly one-time payments for individual repair work.
Nonetheless, you must understand that the relative manageability of a monthly payment scheme for purchasing a car warranty does not serve as a free pass for delinquent payers. In fact, such a plan should enable practically anyone to become more conscious towards their monthly payments, which can result to an assortment of financially-burdensome consequences when left unpaid. All in all, it is highly important that you consider purchasing your car warranty via an installment scheme, compared to paying one-time amounts for every individual repair work that comes along.