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The Pros and Cons of Purchasing an Extended Warranty for your Car

When you purchase a new car, a standard warranty will be included in the deal. But then the salesperson will usually try to upsell and offer you an extended warranty. Is this something useful or is it just another sales gimmick? An extended warranty can give you extra piece of mind with regards to a few technical aspects of your new car, such as extending the period that some of the mechanical parts of your car will be replaced if they malfunction. But is it really worth it to purchase an extended warranty? There are a few things to consider before you activate it.

Firstly the positive aspects of it:

Pro: you can customize the warranty to fit your specific needs


Companies that offer extended warranties are not as stuck in stone as the car manufacturers. A warranty company will have a variety of different products that you can choose from. You can chop and change the different types of warranties so that you get the most suitable combination for you specific situation.

Pro: they cover costly repairs.

Instead of having to pay for a breakdown from your pocket, your once-off warranty purchase will cover quite a bit of the repairs. These usually pop up at unexpected times and the warranty will ensure that you don’t have to worry about unnecessary expenses.

Pro: the dealer will take care of all the paperwork as well as the payment.


When you activate the warranty at the dealership, it will be automatically added to your purchase price. You don’t have to worry about sorting it out later on and hunting down prices for a good deal. The salesperson at the dealership will also be able to advise you about the most suitable option for your needs.

And the negative aspects of it:

 

Con: purchasing an extended warranty is expensive.
Sometimes you will purchase the warranty and it won’t be necessary, your car will run smoothly and not need any repairs within the warranty period. Some of the services offered by your warranty can also rather be included in your insurance policy.

 

Con: they don't cover all the repairs.
As with any contract, there’s always the fine print. You need to make sure that you understand what the warranty offers. Make sure you examine the exclusion list carefully before committing to purchasing the warranty.

 

Con: you will have limited access to only certain approved repair suppliers.
If you choose a third-party provider instead of the manufacturer, you will be forced to use only specifically approved repair companies. Should your car break down on an out-of-town trip or if you move to another area, the restrictions will mean that the warranty is useless.

You should carefully weigh up the pros and cons of purchasing an extended warranty against the cost and decide if it will be a feasible option for you. Remember that your insurance company could offer you some of the benefits included in warranties.

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The Pros and Cons of Purchasing an Extended Warranty for your Car

When you purchase a new car, a standard warranty will be included in the deal. But then the salesperson will usually try to upsell and offer you an extended warranty. Is this something useful or is it just another sales gimmick? An extended warranty can give you extra piece of mind with regards to a few technical aspects of your new car, such as extending the period that some of the mechanical parts of your car will be replaced if they malfunction. But is it really worth it to purchase an extended warranty? There are a few things to consider before you activate it.

Firstly the positive aspects of it:

Pro: you can customize the warranty to fit your specific needs


Companies that offer extended warranties are not as stuck in stone as the car manufacturers. A warranty company will have a variety of different products that you can choose from. You can chop and change the different types of warranties so that you get the most suitable combination for you specific situation.

Pro: they cover costly repairs.

Instead of having to pay for a breakdown from your pocket, your once-off warranty purchase will cover quite a bit of the repairs. These usually pop up at unexpected times and the warranty will ensure that you don’t have to worry about unnecessary expenses.

Pro: the dealer will take care of all the paperwork as well as the payment.


When you activate the warranty at the dealership, it will be automatically added to your purchase price. You don’t have to worry about sorting it out later on and hunting down prices for a good deal. The salesperson at the dealership will also be able to advise you about the most suitable option for your needs.

And the negative aspects of it:

 

Con: purchasing an extended warranty is expensive.
Sometimes you will purchase the warranty and it won’t be necessary, your car will run smoothly and not need any repairs within the warranty period. Some of the services offered by your warranty can also rather be included in your insurance policy.

 

Con: they don't cover all the repairs.
As with any contract, there’s always the fine print. You need to make sure that you understand what the warranty offers. Make sure you examine the exclusion list carefully before committing to purchasing the warranty.

 

Con: you will have limited access to only certain approved repair suppliers.
If you choose a third-party provider instead of the manufacturer, you will be forced to use only specifically approved repair companies. Should your car break down on an out-of-town trip or if you move to another area, the restrictions will mean that the warranty is useless.

You should carefully weigh up the pros and cons of purchasing an extended warranty against the cost and decide if it will be a feasible option for you. Remember that your insurance company could offer you some of the benefits included in warranties.

No comment yet.