Car Warranties Are They Worth It – All new vehicles off the production line come with a factory warranty. Also known as a “manufacturer’s warranty,” this is a vehicle manufacturer’s way of protecting consumers from mechanical or performance problems that may occur during the first few years of a vehicle’s life.
Unfortunately, the average factory warranty only covers four years of wear and tear on the car, with some lasting as little as three years. When the manufacturer’s warranty expires, you’re mostly paying for major auto repairs on your own. And, if you bought a used car, your warranty has probably expired a long time ago.
Car Warranties Are They Worth It
So how do you avoid expensive repair bills after your manufacturer’s warranty expires? Investing in an extended car warranty or car protection plan can be one way to protect your wallet. Designed to continue to protect your vehicle’s components from breakdowns and unexpected repairs, extending your warranty coverage or purchasing an auto protection plan can save you costly repairs and keep you safe on the road for years to come.
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Here are five other reasons why it might be worth buying an extended car warranty or car protection plan:
All car components have an expected service life, and the more wear parts they have on them, the closer they are to potential failure or needing major repairs. Chances of accidents can be with car owners of cars with high mileage. However, with a safety plan in place in the form of an extended warranty or auto protection plan, you can drive with peace of mind.
If you find yourself stranded on the side of the road after a breakdown, any viable extended warranty provider will put you in touch with a towing company that will take you to the nearest certified auto repair shop. Your warranty provider can also cover repair bills and provide car rentals. If you’re worried that your high-mileage used car might have problems, an extended car warranty can provide much-needed reassurance.
Factory warranties often take a cookie-cutter approach, with special terms in the fine print that can make them unsuitable for many drivers. However, if you find the right extended warranty or car protection plan provider, you can tailor coverage to suit your specific needs.
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At Endurance, we offer customized auto protection plans, and our knowledgeable team can work with you to make sure your plan offers the component coverage you need while still meeting the budget you have in mind. Unlike most vehicle protection plan providers, we even cover rideshare drivers.
If you decide to sell your car, you’ll likely want the most money possible. An extended car warranty can help you maintain your car and preserve its value. Some extended warranties are transferable for a small fee, making your car a much more attractive purchase for any potential new owner than another car that isn’t covered.
For even more coverage, the EnduranceAdvantage™ vehicle protection plan is the only one on the market that covers total maintenance fees, paying up to $3,500 per year. When your car is serviced regularly, its components will be in the best possible condition and this can reassure prospective buyers that your used car is worth buying.
According to AAA, the average annual cost of owning a vehicle in 2019 was $9,282. Owning a car is no small investment, so it’s important to save money where you can. An extended warranty or auto protection plan can help you avoid costly out-of-pocket repairs. Although the protection plan has some up-front costs or premiums, your provider will pay for large repair bills incurred during your coverage period. In particular, with EnduranceAdvantage, you won’t have to worry about expensive maintenance fees either.
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In addition to reducing the cost of expensive repair bills, third-party extended warranty or vehicle protection providers can offer customers bonus features such as roadside assistance or movie ticket vouchers.
Every new purchase of a car protection policy at Endurance comes with a free year of Endurance Elite Benefits, with added bonuses such as tire replacement and up to two replaced or retreaded tires per year, something not many providers offer.
You can’t put a price on peace of mind, and an extended auto warranty protection package can provide that for you. Vehicle maintenance contracts can save you money on expensive repair bills, and you never have to worry about an unexpected breakdown again.
Each Endurance Protection plan includes 24/7 roadside assistance, replacement transportation and trip interruption expenses. You’ll also have the added benefits of Endurance Elite Benefits for one year from the start of your plan with all the extras it offers.
No, Extended Warranties Are Usually Not Worth It
Upgrade from EnduranceAdvantage’s standard protection plan and the benefits only get better. It’s the only car service contract on the market that includes up to $3,500 in routine maintenance coverage. Endurance breakdown protection plus routine maintenance means complete protection for you and your vehicle.
If you’re ready to protect your car and put money back in your pocket, request a free, no-obligation quote. You can also visit the Endurance Learning Center for more information and automotive advice.
Chris has been covering the automotive industry for nearly 10 years and topics ranging from road trips to driverless car technology. His own preference is a retro 4×4 that will handle the country’s muddy terrain.
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Choosing an extended warranty varies greatly depending on your personal needs, but it can be a great way to protect yourself against unexpected repairs or maintenance on your vehicle. Saving money in an emergency may be worth the extra cost of the warranty.
Armed with some research on those extras before heading to the dealership to make a purchase will not only save you some money, but also keep you from regretting decisions you should have made on the fly.
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Here’s what you need to know, what to ask yourself, and what to know about extended warranties before you head to the dealership.
An extended warranty is a service contract that covers specified repair costs after the vehicle’s manufacturer’s warranty has expired. Think of it as medical insurance for your car. Be aware, however, that most extended warranties don’t cover routine services like oil changes, and often don’t cover as many things as a manufacturer’s warranty.
Some extended warranties are more comprehensive than others. Some have deductibles and others do not. If possible, avoid extended warranties that have deductibles. While having this can help reduce the overall price of the warranty, they may charge you on a per-repair basis, meaning if you have multiple repairs in one visit, you’ll be charged a deductible for both. If a down payment is necessary, go for the one visit option rather than one repair.
If you choose a warranty, be sure to read between the lines to make sure you understand what is covered.
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Make sure items that are likely to fail, break, or wear are covered: anti-lock brakes, electrical systems, powertrain, transmission, air conditioning, and other electrical components. Read the fine print of the contract to determine exactly what is included and what is excluded. Many times, the bumper-to-bumper warranty doesn’t cover everything you might need for repairs.
Different warranties cover different repairs. The extended warranty begins after the manufacturer’s warranty expires. Most new car warranties are 3 years/36,000 miles. Other manufacturers’ warranties, such as Kia’s, can be as long as 5 years/60,000 miles.
If you trade in a car every two or three years, chances are the warranty that came with the car will still be valid. But if you plan to keep the car for five years or longer, an extended warranty can pay for itself.
The duration of the extended warranty is entirely up to you, the buyer. An extended warranty will kick in after your manufacturer’s warranty has expired.
Do I Need An Extended Car Warranty?
If you only plan to have the car for about three years, then
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