I need an extended warranty for my car
An extended car warranty is a service contract sold by independent providers and dealer networks that offers additional coverage beyond what is provided under the manufacturer’s warranty. Extended warranties typically cover repairs to your vehicle for a set number of years or miles after the original warranty expires. While they can be expensive, many people find that the financial protection offered by these plans can make sense.
But before you buy an extended warranty, it’s important to ask yourself a few questions. A few of the most important include: How long do I plan to keep this car? If you intend to sell the vehicle within a few years, an extended warranty may not be worth the money. However, if you plan to keep the vehicle for five or more years, a service contract can help you avoid the cost of unexpected repair bills and may even pay for itself in the long run.
Another consideration is whether you prefer to have your car repaired by a dealer or at an independent shop. Most OEM-approved extended warranties require that repairs be performed at a dealership and that only factory replacement parts are used. While this can save you time and money, it also limits your options for where your car is repaired. If you are willing to take the risk of having your car repaired at an independent shop, you can usually find much more competitive prices on extended warranties.
Finally, a significant number of people who buy an extended warranty end up not using it for any repairs. This can be a big waste of money, especially since most repairs are less than the cost of the warranty. In fact, a Consumer Reports survey found that more than half of people who bought an extended warranty never used it.
How to choose the right extended warranty for your car
Once you’ve considered these issues, you’re ready to start shopping for a provider and a warranty policy. When comparing different companies, it’s important to get quotes and understand what is and isn’t covered by each. Most providers will require a deductible, just like your car insurance. However, the amount of the deductible can vary significantly from company to company.
One of the most popular extended auto warranty companies is CarShield, which has a good reputation for customer service and offers customizable coverage that can be tailored to your specific needs. You can purchase a CarShield warranty through a dealership or directly from the company’s website. If you are purchasing a warranty through a dealership, it’s often bundled with the finance or lease agreement for the vehicle. You can also buy a standalone extended warranty from CarShield, which is an excellent option for vehicles with high mileage or those that have been driven for a few years. CarShield’s warranties are also transferable if you plan to sell your vehicle in the future. extended warranty for my car