A new car is a huge investment. Whether you’ve recently purchased a car or you’re considering purchasing a car in the near future, chances are you want it to last as long as possible.
Most new car owners toil over the decision to buy an extended warranty to ensure that their vehicle stays on the road for a minimum number of years. While there is no simple answer to whether or not you should purchase an extended warranty to cover your new car, the following information can help you to understand how you’ll save money by purchasing extra coverage.
1. You’re Guaranteed Repairs
When it comes to cars, the more time you put into maintenance such as routine tune ups, the longer your vehicle will last. Unfortunately, there’s no way to guarantee that your car won’t require repairs at some point. Like all machines, cars can break down. The question is, will you be able to afford repairs for your car when the need arises? Purchasing an extended warranty is the only way to guarantee that you’ll be able to cover the cost of repairs.
2. The Coverage Is More Comprehensive
When faced with the question of whether they should buy an extended warranty, most consumers wonder why they’d need two warranties, considering most cars come with a dealer’s warranty. The answer is that dealer’s warranties are limited in what they offer—most will not cover substantial repairs, and if they do, there’s an upper limit of $3,000 for each claim.
3. You’ll Get Peace of Mind
When you purchase an extended car warranty, you’re purchasing peace of mind. There’s nothing like the relief of knowing that should something arise, you’ll be able to take care of it quickly and efficiently. It’s best to be prepared for the unexpected; an extended car warranty is there should the need arise.
4. You’ll Save Money
Extended automobile warranties can save you money in the long run. Think of it like a financing plan; instead of paying for repairs all at once, you’re paying in installments, and potentially below the actual cost. In most cases, this is far more financially feasible than paying for repairs all at once.
5. You’re Purchasing Support
Companies that offer extended car warranties are in the business of road safety. They come supported by knowledgeable staff that can help you to make the best decisions for your vehicle. Most companies references for professional and trustworthy mechanics to carry out repairs so that you won’t get taken advantage of.
6. You Will Increase Your Car’s Resale Value
Purchasing an extended warranty can help to improve the resale value of your vehicle. Though it may be hard to imagine when you first purchase your car, eventually you may want to sell your vehicle. When that moment arrives, an extended warranty is an attractive feature, providing the potential buyer with the same protection you received. It also indicates that your car was well maintained. It might just be enough to seal the deal.