You just buy the car of your dreams and you think to buy an extended warranty. Before subscribing to a plan, consider these nine essential key points.
- Do you really need?
First, you should ask yourself if you really need an extended warranty. The new cars are accompanied by a manufacturer’s warranty, it fits your needs or not.
- If you plan to keep your car during the original warranty period only, there is no need to subscribe to an extension.
- If your model is traditionally known for its reliability, the longer extension may seem unnecessary.
That said, it is always better to set aside a portion of what you paid for the guarantee to cover the maintenance costs may be necessary for the future.
- The sooner you buy the less you pay
The longer you wait to buy an extended warranty and you will pay dearly.
- Inflation should naturally be taken into account but, given the fact that you drove the car, the coverage will be considered riskier and therefore cost more.
- It is not necessary to wait until the manufacturer’s warranty before subscribing to an extension, but without rushing.
Did you know that you are not required to purchase an extended warranty at the dealership? There are many other companies that offer extended warranties.
- If purchasing an extended warranty is important to you, it’s best to consider options for getting an idea of the type of coverage offered and price. This information can be used to negotiate with the dealer.
- The dealer will probably offer you an extension of the manufacturer’s warranty or guarantee its own.
Make sure you understand which offers warranty for contact in case of problems with your car.
- Make sure the reputation of the proposed service
To choose an extended warranty provider, you must ensure that it offers a good service reputation, even if you must pay a small fee.
- Make sure the company is in a strong financial position to be able to compensate you in a case of problems.
- It is also important to get an idea of the quality of service offered by the provider. Read reviews about a particular company and the service it offers.
- The actual comments of former clients of the company will give you a better idea of its reputation.
- Feel free to negotiate
Negotiation has its place in the purchase of an extended warranty.
- Call different vendors to see what they can offer you in terms of a discount or additional premiums.
- After contacting several sources, you will have a real image of a police price and the clout to negotiate. The request can not hurt.
- Check your benefits
This purchase, as any purchase negotiable, must be worth it. If your policy costs you a lot of money, make sure that coverage is as complete as possible.
There are several benefits that can offer extended warranty contract, including:
- Reimbursement of a rental car.
- Towing to the repair shop.
- Assistance roadside.
- Travel costs (in a case of problems during a trip).
- Locate the right coverage
Each warranty is different, but there are more elements that a good warranty has to offer:
- $ 0 deductible: some car warranty agreements apply a deductible for each part repaired. Try to avoid it, with a plan with a $ 0 deductible.
- Money back guarantee: you are unhappy with your purchase, and you do not complain, you should be eligible for a 100% refund within 30 or 60 days.
- Transferable extended warranty: choose a warranty that is transferable to the new owner if you decide to sell your vehicle.
- Repairs: Make sure that they can be performed by any mechanic, not only by the dealer from whom you bought the car.
- Coverage and wear down: make sure all vehicle parts are covered so that the supplier can not use that excuse to refuse reimbursement.
- Cover bumper to bumper or exclusion: it is better to opt for a warranty that covers the entire vehicle rather than designate specific systems or components since then some elements may not be covered .
- Understand the compensation application process
When buying an extended warranty, it is particularly important to understand how your will be covered claims.
- A claim may give rise to many problems, including lack total repayment by the company.
- Make sure that as your policy, the repair shop or dealer is reimbursed directly.
- Locate the alarm signals
You may read the fine print have, but also need to be sure you understand it in its entirety. Many elements in your contract can trigger an immediate alarm and force you to question the credibility of the contract:
- The contracts that seem too good to be true.
- Contracts with a repayment program that you have to move yourself the cost of repairs to be later reimbursed by the administrator.
- Contracts with hidden costs. Make sure your policy covers labor because it is usually the most expensive part.
- Contracts requiring exceptional maintenance requirements.
Buying an extended warranty is a major decision about but, to finish, it’s up to you to the decision: peace of mind and more money in your pocket?
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