This is a Guest Posting by: Adam Davies from Warrick Ford
Extended Warranties: the thing your DIY Dad said you don’t need,
the salesman says is essential and you’ve never heard of. So what are they? Do
you need one? And what does it do?
To get you started, an extended warranty is a service that
you pay for which will cover some to all of your repairs down the line when
your car needs fixing. There are usually two schools of thought when it comes
to an extended warranty, there’s the side that think they aren’t worth thinking
twice about, and then there’s those who wouldn’t buy a car without one. Those
in the former group are entitled to their opinion, but in today’s world of
holding onto vehicles longer and getting the most out of what you own, an
extended warranty is a safe and smart investment.
An extended warranty kicks in after the factory bumper to
bumper warranty expires on your vehicle and comes in different tiers of
coverage depending on what you want to be covered. Complete packages are
obviously pricier than basic coverage but also give you much more peace of mind
knowing your whole car is covered, not just a major component. There will
always be arguments against extended warranties and while cars have gotten more
and more reliable over the years, your best bet is still to get some coverage.
Here’s why, as I just mentioned, cars by in large have been getting more
reliable in recent years and while that is a great thing, they have also been
getting much more advanced in terms of parts, components and how they all work
together, which works against you when it comes time to get something fixed.
A mere 10-12 years ago let’s say your side view mirror was
clipped and broke off, while still a pain, these mirrors only cost you $20 and
an hour in the garage to replace. Now jump to today, in the same situation, not
only can a side view mirror be hundreds of dollars, but there may be no way you
can replace it by yourself, which means taking it to a garage and paying even
more money just to fix your mirror. The truth of the matter is that most of us
today don’t have the time or expertise to fix our vehicles ourselves but also
don’t want to pay thousands of dollars every time it’s in the shop. An extended
warranty can greatly ease this pain we feel in our wallets and get us back on
the road safely.
Another important thing to remember is that your extended
warranty does NOT need to be purchased the same day you buy your new car, but
it may be most negotiable then. Here’s what you do, before buying your vehicle,
do your research, call around, get quotes and find out what plan is best for
you, go into the dealership knowing what coverage and price you need and want
and don’t budge. One caveat to this is that while you can still purchase an
extended warranty after your factory coverage runs out, the cost increases
dramatically, so it’s best to do it before hand.
