Are you ready to purchase an extended car warranty? Well, the finance and insurance manager will probably offer you things like paint protection, theft-recovery systems, road-hazard warranty as well as theft-recovery systems for your tires. However, the extended warranty for your car itself is perhaps one of the priciest products offered by such dealers.
Also referred to as service contracts, extended warranties can provide car owners with the peace of mind they need. Plus, they tend to be cost-effective in the long run. Most dealerships like them because they bring additional profit to their business.
Typically, this form of repair coverage often kicks in after the manufacturer’s bumper-to-bumper warranty expires. It covers major breakdowns and will help stabilize the cost of maintenance repairs since the cost of parts plus labour tends to fluctuate from time to time. Remember, you can always purchase an extended warranty before the manufacturer’s warranty expires. At the same time, you can also opt to buy it after the expiration of the manufacturer’s warranty, though the price will be quite higher.
But before doing all that, it’s important to ask yourself these important questions. They’ll help you make an informed buying decision and strike the best market price.
Who Provides The Warranty?
Most dealerships provide third-party warranties from reputable manufacturers. If you’re planning to purchase an extended warranty, ensure that it’s backed by the automaker, not only the dealership.
If you’re considering coverage for a particular purpose, like a road hazard policy that isn’t provided by the automaker, read online reviews to check what other people are saying about it.
Which Repairs Are Covered?
An extended warranty doesn’t always cover all types of repairs. Most wear-and-tear parts will eventually breakdown or wear out- and this isn’t covered by all extended warranties.
Certain dealerships sell replacement warranties for run-flat tires. Conduct extensive research to make sure that you’re only purchasing the right coverage for your car. Plus, you should know exactly who stands behind the extended warranty you’re considering; and it’s always advisable to stick with Chevy auto warranties
Plus, many extended warranties are available in different tiers, including silver, platinum, and gold, each with its own price tag as well as the level of coverage. Don’t forget to determine if the repairs are fully covered by the extended warranty. Will you still need to pay a small deductible? Do you need to make the repair payments upfront and get reimbursed later?
What’s Your Experience With Car Repairs?
Determine if the cars you owned previously had the type of problems covered by the extended warranty you’re considering. If you’re planning to invest in a road-hazard tire warranty, for instance, you may want to think about the number of times you’ve encountered a flat tire.
If there’s so much debris on the roads or if you have had numerous flat tires within a short period of time, purchasing a road-hazard warranty would be worth investing in. Nonetheless, if you can’t remember the last time this happened to you, then you might not need the coverage.
Besides, you can calculate the total amount of money you’ve spent on out-of-warranty car repairs in the past and then compare it to the extended warranty’s overall worth. For instance, if you have paid USD 500 for repairs which occurred out of warranty, compare that against the price of your extended warranty.
Of course, you won’t have the same repair history in two different vehicles. But if you’re purchasing a car from the same manufacturer, it can give you an idea of what’s expected.
What’s The Best Price?
Before you finalize your car purchase, consider doing some research to discover the best prices. If purchasing the vehicle is already a financial handful, you may want to shop around for a better warranty price after the sale.
With an auto warranty, you have a comprehensive coverage whose cost can be directly wrapped into your financing. However, you need to negotiate for a lower price in advance to avoid breaking your bank.
Ways Of Purchasing Extended Warranties
Most often, extended car warranties are sold through dealerships or a third-parties. But using a dealership is always better since they’re reputable, transparent, and highly reliable. If you have decided to purchase your extended vehicle warranty from a third-party, however, you may want to consider performing some thorough vetting.
In both cases, it’s advisable that you carefully check your existing auto insurance since certain types of mechanical breakdowns may be included in your policy-rendering this an unnecessary expense. Even if you aren’t covered, you’ll still need to judge the possibility of a breakdown occurring against the overall cost of purchasing an extended car warranty. Regardless of the choice you make, the cover should be comprehensive enough to cater for more repairs. You don’t want to spend a lot of money on a warranty that won’t fully cater for your needs. So, take your time and do extensive research to establish what’s best for you and your vehicle.
How Badly Do You Need This Warranty?
You really can’t tell when that costly repair may strike. But new vehicles are definitely more efficient and reliable. And research indicates that most people who purchase new cars may not need an extended warranty.
But if you still need an extra level of security, you may want to consider self-insuring. Some people don’t like taking chances and strongly prefer the increased convenience offered by an extended warranty. It makes them happy knowing that major repairs will be catered for. If you’re certain about getting Chevy auto warranties, be sure to ask the right questions before you can make any purchases.
The Bottom Line
If you’re looking to purchase an extended warranty, you should know that they aren’t a form of insurance, but a service so it isn’t regulated in the same way as auto insurance companies. Chevy auto warranties make it easier for you to get the best auto car protection.
