Ever wondered what an extended warranty is? Well, wonder no more. Here is the short answer: An extended warranty is a coverage you purchase to protect your car. It comes into effect after the original factory car warranty ends. Generally, you can purchase this warranty at any time before the original factory warranty expires. Extended warranties may sometimes be offered by the manufacturer, a third-party company, or a dealership. In most cases, the period varies depending on the make of a vehicle, but most manufacturer's warranty expires after five years.
Getting an extended warranty is crucial, especially when buying used cars that have already gone past or almost nearing the end of the manufacturer's warranty. The warranty safeguards you against high repair costs from the aging car. Whether you intend to extend your warranty through your dealership or a third-party supplier, the manufacturer-endorsed extended warranty is your best option. The manufacturer uses up-to-date parts pricing and performs a detailed claims analysis, unlike the third-party estimates that are inaccurate and sometimes can be overpriced. Typically, extended warranties cover vehicle repairs and other costs associated with a breakdown; they do not cover routine maintenance. Sometimes the coverage depends on the company offering the warrant.
Here is what an extended car warranty covers: Powertrain Parts Generally, extended warranty cover repairs in the vehicle's powertrain such as: • Transmission • Engine • Rear and front drive axle • Electric components • Turbocharger These warranties vary depending on the manufacturer; some may take five, seven, or up to ten years. Extended warranties can be an investment, and you might never end up using them, but failure to get a warranty can drain your pockets as some of these parts are very expensive to repair. Other parts Some other vehicle parts might be covered in an extended warranty, such as: • Air conditioner • Front and rear suspensions • Electrical systems • Steering What extended warranty does not cover: Extended warrants have some exclusions that include: • Interior damages like wear and tear of the seats • Wear and tear of brakes, clutches, headlight bulbs, and wipers • Bumpers • Routine maintenances like wheel change and oil changes • Damages from improper care, for example, reckless driving • Scratches and dings • Shock absorbers and struts • Exterior rims • Vehicle modifications
Three Main Factors to Consider When Selecting an Extended Warranty: Manufacturer's Original Warranty It is essential to know the manufacturer's original warranties before considering the extended coverage for the used car you want to purchase. Age and Mileage of Your Vehicle When purchasing a used car, you need to consider the age and mileage of the car and the remaining warranty, if any. If it is approaching expiration, then you might consider taking a protection plan. Financial Ability to Pay for Repairs Extended warranties can be costly. If you happen to be in an excellent financial position, then you may not need extended protection. On the other hand, if the expenses may disrupt your financial position, you might consider getting a protection plan.
If you are in the market for a new car, then CARite has you covered with vehicle protection. They offer a simple but comprehensive set of protections for your investment.
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