Should You Buy a Used Car Extended Warranty?

An extended warranty simply put is a written policy that provides coverage protection to the used car for mechanical problems, failures, breakdowns and so on, and is designed to save the car owner money from car repairs and is like a security blanket for people. A used car extended warranty provides additional insurance when the other warranties or guarantees have expired, that is why it is essential to get an extended warranty besides the original warranty.
If you are about to buy a used car, don’t think twice because purchasing a used car extended warranty as it’s a wise investment for many. If you want the piece of mind in knowing that all of your car repairs will be paid for than you may want to consider an auto extended warranty.
There are companies both online and off (from dealers) that offer extended car warranties but the quality of coverage and service varies from company to company. Before you actually purchase an extended warranty from the dealer, I suggest going online to find a deal or at least get an idea of costs and what they cover. Get a quote wherever you can.
Something you may not have considered is to do a price comparison to determine if the cost of having the used car extended warranty is going to pay for itself in the amount of money that you will save on repair expenses! If the cost of the most expensive motor part covered in the warranty, plus labor of fitting it, is less than the cost of the extended warranty over the term, what are you buying the warranty for? Wouldn’t it make more sense to just put that money aside, earning interest somewhere, in case you need to pay for that repair? Many people don’t look at these sort of details.
Other advantages of a used car extended warranty are that your personal sale of the auto at a later date will typically go better if there is warranty on the vehicle. Conversely, if you are not planning on selling the car on the private market, having used car extended warranty plan on the vehicle will not increase its over-all value! If you drive your car a great deal then it is more likely to be of use to you, so the peace of mind factor can be significant. Lastly, many of the extended warranties come with road side assistance and towing.
Now for the bit that most people don’t do, or hate doing. Read the small print! Yes, I know it’s stating the obvious but you would sometimes be surprised, even shocked, to read what you are actually covered for (or not covered for) as well as other conditions.
Conditions such as getting your car serviced according to the manufacturers hand-book, and/or only having the manufacturer of the car service it. If these are specified in the used car extended warranty and you don’t comply then your policy will almost certainly be void. Don’t get caught out like this. A used car extended warranty is only good if you know exactly what you are getting.
Hopefully, you’ll never need it.

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