Buying an extended car warranty can help drivers save money on the cost of unexpected repairs. Once your vehicle’s manufacturer warranty expires, you’re responsible for paying for any mechanical breakdowns out of pocket. An extended car warranty can foot the bill for costly repairs and give you peace of mind while driving your vehicle. A few things to keep in mind when shopping for the cheapest extended car warranty include:
The price of an extended auto protection plan depends on several factors, including your vehicle’s make/model and how reliable it is. Reliable cars tend to require less maintenance and repairs, so the cheapest extended warranties will probably be offered for vehicles that aren’t luxury or exotic.
Your car’s age and mileage will also influence the price of an extended warranty. Older or high-mileage used cars are more likely to experience expensive repairs, so they’ll be more expensive to cover with a warranty. You’ll also be asked to estimate how many miles you drive each year, and if your vehicle is driven to work or is a daily commuter, it will most likely require more frequent repairs than other vehicles.
Most extended warranty plans will include a deductible, and the amount of the deductible can vary from provider to provider. Some will have a $100 deductible, while others may have a higher deductible. Be sure to ask about the different deductible options and choose the one that best fits your budget.
You should also consider whether the coverage offered by a specific company is right for you. Look for a company with a strong reputation and excellent customer reviews. You should also read the fine print carefully to make sure that all your vehicle’s components are covered. Some providers will cover only the most important parts of your car, while others will cover more minor components.
Once you’ve decided on a plan, contact several providers to get quotes and compare prices. Some will offer payment options that let you pay up front, through a monthly payment plan or even roll the price of the contract into your car’s financing plan. Choosing a flexible plan structure will help you find the best deal on an extended car warranty.
A good extended warranty company will have a knowledgeable sales team and support staff that can answer your questions about the policy’s terms and conditions. You should also read online reviews to find out what other customers have had to say about the company and its customer service.
An extended auto warranty can be a great investment for drivers, especially those with older vehicles or those who drive a lot of miles. But be sure to do your homework before buying one. There are a number of scams out there, so you’ll want to avoid them if possible. If you’re not happy with the services provided by a particular provider, you can always cancel your plan. Most companies will allow you to do so within a certain time period after purchasing, but some will have stricter cancellation policies.