Are you thinking about purchasing a preloved vehicle instead of forking out a fortune on a new one? You might be wondering how to eliminate some of the risks involved in buying a used car, like the voided manufacturer’s warranty, legal disputes, a potential accident history, and the likelihood of paying a lot more on auto insurance.
When it comes to reducing insurance costs, you can increase your deductible, cut out unnecessary coverage, bundle your insurance policies, and drive less. Moreover, running the vehicle registration can clear up any concerns about prior accidents.
And when it comes to the warranty, you can purchase an extended car warranty. Carchex costs are relatively pocket-friendly. But is an extended vehicle warranty really worth it?
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We’ve rounded up five undeniable reasons why you should buy an extended warranty.
You might think an extended warranty will provide some cover that barely compares to the original manufacturer’s warranty. But this really isn’t the case; an extended car warranty goes above and beyond the manufacturer’s warranty by providing more cover for parts and repairs.
Extended warranties also allow drivers a lot more freedom when it comes to choosing a registered garage for repairs. The original manufacturer’s warranty typically only enables vehicle owners to have their cars repaired at licensed dealers, while an extended warranty offers a much more extensive list of registered garages.
In addition to more coverage for major repairs and part exchanges and a more extensive choice of garages, you’ll also receive benefits like roadside assistance.
What’s more, extended car warranties also offer drivers extra value-added benefits like lockout services, flat tire repair, towing services, jump start services, and even fuel delivery for those occasional emergencies.
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Extended vehicle warranties are transferable for a small fee; this means drivers can boost resale value simply by opting for this service contract.
If you later decide to sell your preloved vehicle, you’ll attract more buyers if the car boasts an extended warranty.
Major services are astronomically pricey for most vehicle models. So are part exchanges and other extensive repairs.
When buying a preloved vehicle, an extended warranty can offer drivers unwavering peace of mind; you won’t need to worry at all about your car breaking down when you haven’t budgeted for significant repairs.
The additional cover provided by this service contract is undeniably worth it for all car owners, regardless of the model. But even so, it’s crucial to remember that an extended warranty should not replace your auto insurance policy. Auto insurance provides benefits that warranties do not, like accident cover and several others.
That said, comparing extended warranty deals with different companies is still essential to get the best deal. Not all extended warranty companies offer the same, so be sure to compare price and policy details before buying in.