If you’re thinking about buying an extended warranty for your car, you may be wondering if it’s worth the money. It’s important to do your research, watch out for warranty scams, and work with a reputable company to avoid being taken advantage of. This article will help you decide if the peace of mind that comes with an extended warranty is right for you.
If You’re Concerned About Repair Costs
Many people purchase extended warranties because they want to have peace of mind when it comes to the cost of repairs. While a warranty might not cover every conceivable issue, it will usually protect you from major expenses. However, a recent survey by Consumer Reports found that most extended warranty buyers end up paying more for the plan than they get back in repair savings. This means that if you’re concerned about the cost of repairs, it’s probably best to skip the extended warranty and instead save up for an emergency fund.
It’s also a good idea to add up how much you’ve spent on out-of-warranty repairs in the past and compare that amount to the price of an extended warranty. If you find that the total is less than the cost of the warranty, then it might be worth purchasing it for the added peace of mind.
Extended Warranty Plans May Include Additional Services
Some car manufacturers offer extended warranties that are more comprehensive than others. For instance, some offer bumper-to-bumper coverage or include additional services such as roadside assistance. These plans are typically more expensive, but they can provide you with a lot of value for the price.
Aside from the type of coverage offered by an extended warranty, the term of the plan will also impact the price. A longer plan is likely to be more expensive than a shorter one, as will a warranty that covers more parts of the vehicle.
Another factor to consider is whether or not you’re planning on selling your car in the future. If you’re planning on selling it, a warranty will make the sale easier because potential buyers can see that the vehicle has been well-maintained and has a reliable warranty in place.
You’ll also be able to transfer the warranty to the new owner, which could help you sell the vehicle more quickly. It’s important to keep in mind that the cost of a warranty will usually be higher than the cost of a used car, so it’s crucial to do your homework and determine if it’s worth the investment.
Car buyers crave reliability, ranking it as a top priority in both new and used car shopping. That’s why it’s important to research the cars you’re considering and check out their exclusive reliability ratings and scores from CR. It’s also important to weigh the pros and cons of an extended warranty, as they can often be a waste of money. With the help of CR’s advice, you can make an informed decision and find the best car for you. is extended warranty for car worth it