Buying a new car is always a great experience and most of us will always find it an expansive investment after purchasing the house. However, when you will buy a new car then you will also get a warranty from the manufacturer. However, when you are going to a used car then look for any extended warranties or warranty for used cars. You will need to know every what if, information, and what it will cover to get the most out of it. It is also included if you need to buy it separately. Keep in mind that when it comes to used extended car warranty then it means that any type of warranty available for used cars.
The Warranty from the manufacturer
When you are going to buy used vehicles then you may be lucky enough to find a manufacturer warranty still applicable. If you are checking the buyer’s guide then look at the system covered duration section for more information. To get the advantage of the original warranty, you will need to learn if the car warranty is transferable to the new owner. If you are going to get this from a dealer then read about this from the warranty documents. You can read about several other important things such as mileage and expiration date but you should focus on checking the transferability. A manufacturer’s warranty may cover the 3 years of the vehicle or 36000 miles however, the powertrain warranty may last longer than this.
Details of Warranty Coverage
Having the used car warranty is great but it will work for a limited time. The car warranty contract should provide specific information about the vehicle service contract and it should explain that who will be responsible for the repair costs. You should go for the best-printed details and you will need to make sure you have checked all of the questions answered in the document before buying the car. Also, you will need to notice that where you are buying the warranty from because there is a huge probability that you are getting a warranty contract from a third-party by your car dealer. So what you will need to do is to look for the company’s auto warranty policies and BBB rating from the Better Business Bureau. If you haven’t been to the manufacturer’s dealer or repairs then you may be wondering that if the warranty will be void because a dealer or manufacturers cannot claim the Car Warranties. After all, a mechanic from another shop worked on it. However, you will be required to go for specific repair facilities if the repairs’ are free under the Car Warranties.
Information about Extended Warranties
While looking for car warranties you will come across extended warranties as well as will have the option to buy a service contract when you are about to buy used vehicles, this is known as an extended warranty. With such a contract, your dealer will be ready to pay for specific repairs or service centers for your car. This will, however, require you to spend extra bucks. If you haven’t been to it the following is the information about the extended car warranty that you should know about.
The Transferability
When you are about to sign up for the service contract then you will need to make sure that if the original powertrain warranty is transferable or not. If it is then check out how much time and mileage is left on the warranty.
Who Will Perform The Repairs?
You should check out the payer of the service charges before signing the contract. You should check out if you should be taking your vehicle to the dealer for regular maintenance or not. You will need to make sure that if the service contract details are good enough for you and will work for you.
Common Repair Cost VS. Cost of Warranty
Though opting for the extended car warranty would be a great peace of mind but it will also require you to pay upfront from 1000$ to 3000$ and once you have the quote from a dealer you should be figuring out that how much a common repair can cost and how much your warranty can recover.
Vehicle Dependability
The warranty depends a lot on the quality of the used vehicle as well. There can be vehicle that doesn’t fulfill the criteria of “quality vehicles” so they may be prone to repairs and require regular maintenance. So you should be checking the track record of the vehicle and determine what type of coverage you might need.
Do I Need Extended Warranties?
The simple answer could be (subjective) because there isn’t any general answer for the question as there are several factors to consider for instance:
Ownership of the vehicle
This is especially for the people who don’t want to own a vehicle for longer such as there are people who will sell or trade-in their vehicle every 2 years or so making the extended warranties out of question. However, selling the vehicle with an extended warranty may increase the value of the vehicle to the potential buyers if the warranty is transferable.
Low-Quality Vehicle
If you have bought a used car that doesn’t have a good track in long run then yes you will need to opt for an extended car warranty as well because you might end up with an emergency breakdown and repair in the middle of the road too often (depending on your usage) and going for the extended warranties will also be good enough for you avoid any costly repairs and reap huge benefits during the life of the warranty.
Bottom Line
A used car can be a budget-friendly way to own a vehicle but make sure you have checked it for any Car Warranties available. If they are then looking for its transferability and if not then you should get one if you want peace of mind regarding costly repairs then yes, the used Car Warranties should be your thing and if it extended then you reap full benefits.