Understanding the Best Deals with Credible Extended Warranty Companies
Extended warranties have the share of pros and cons; however, with some awareness, you can get the best deals with the right company. There are two major types of extended warranties provided to you by carmakers, and they are the OEMs or the original equipment manufacturers and the after-sale or market warranties offered to you by third-party vendors. For instance, the OEM could be a car manufacturer warranty by Ford, Toyota or Chevrolet while the third- party warranty could be a warranty or an insurance company that has no direct affiliation with the car manufacturer or brand.
Extended warranty companies – Know the coverage well before you purchase
When it comes to extended warranty companies, you should be informed in order to make the right purchase. Following are some points you should be aware of-
- Do you have a warranty already? You need to find out whether your car already has a warranty or not. You should find out whether this warranty will last till the duration of you keeping the car for as much time you anticipate to own it. For instance, if the car has a factory warranty for 36,000 miles or three years and you have the intention to keep the car for about 2 to 3 years, anticipating that the average mileage per year will be about 10,000 miles, there is no point in buying an extended warranty. You are already covered under the warranty of the manufacturer till such time you anticipate to keep the car. However, if you intend to keep the car until it completely breaks down, it makes sense to invest in an extended car warranty.
- Period of coverage- Know the period you actually will be covered for. For instance, if you buy a seven-year-old or 1,00,000 mileage warranty for a used car, you need to know when the time and miles begin for you actually. Know whether the coverage starts when you take ownership of the car or from when the vehicle was sold to you as new? Before you take the extended car warranty, you should know what you are signing for. Read the terms and conditions properly.
- Know what is covered and what is not covered- The terms and conditions of the extended car warranty will tell you what is covered and what is not covered. There are subtle distinctions between different plans, so read them carefully. If you are primarily worried about the powertrain or have grave concerns about the electrical system of your car, make sure they are covered by the extended warranty you purchase. Take your time to carefully read the inclusions and the exclusions before you sign on the dotted line.
You should understand what you are signing up for before purchasing from extended warranty companies. Talk to representatives of the extended warranty companies to ensure that you get the best deals when it comes to the maintenance and repairs of your car. Understand your warranty well to get value for money and a car that performs without hassles at all on the road.