Buying an extended car warranty when you purchase a new or used vehicle is an extra expense. Sometimes, it adds thousands of dollars to your purchase, especially if you’re financing your car. So, the question arises … is it really necessary?
The bottom line is … it depends. What does it depend on? We’re glad you asked! Before you decide whether or not an extended warranty is in your best interest, it’s time to ask yourself some questions.
An extended car warranty typically comes into effect after the manufacturer’s warranty has expired. That means that if you’re only planning on keeping your vehicle a couple of years, the original warranty may be good enough and an extension could be a waste of money. On the other hand, if you like to buy a new vehicle and then run it until it dies, an extended warranty could save you money in the long run.
When you’re researching which vehicle to buy, it’s a good idea to take a look at each vehicle’s track record for repairs. This is especially true if you’re looking at buying a used vehicle. If the make and model you want is known for needing major repairs at a particular time, you can make the decision to buy an extended car warranty just in case. Or, you could just trade the vehicle in before the repairs are needed.
Another thing to research is the extended car warranty itself. Dealerships are often the ‘middle man’ when it comes to warranties, and mark up the cost to make a little extra money. If you decide you do want an extended warranty, you could save money by purchasing one from an independent provider.
It’s extremely important to understand all of the fine print. After all, why spend extra money on something only to find out that it doesn’t cover what you thought? You should also check to see if there is overlap between your vehicle’s manufacturer’s warranty and the extension. If there is, you may be paying for something you don’t need.
No one likes surprises when they come in the form of huge repair bills. And, we all know that auto repairs can be expensive at times, often when we least expect it. If purchasing an extended warranty helps ease your mind in terms of vehicle expenses, then by all means go for it.
Alternatively, you can put aside the money you would have spent on an extended warranty and save it for future repairs that may or may not be needed. Or, you can choose a shop like ours that has auto repair financing options for those times when repairs are simply more than your monthly budget can handle.
At Good Works Auto Repair, we know that maintaining your vehicle is important and so is peace of mind when it comes to auto repairs. That’s why we:
Are you ready for even more peace of mind than an extended car warranty can offer? Simply give us a call or schedule an appointment online today!
