When you buy a new car, you have a manufacturer’s warranty for a specific time that protects you from unwanted incidents on the road. But after the expiry of the factory warranty, you have to bear experience in repair and parts. Here comes an extended warranty that saves you money on repair costs. This coverage provides you protection against vehicle breakdowns and roadside assistance. However, there are many things that you have to take into account before buying an extended warranty. We have compiled a list of questions that you should ask dealers before choosing an extended warranty for used cars.
Do you need a third-party warranty?
If you are a rich person and can bear vehicle repair costs easily, then you do not need to buy an extended warranty. But if you want to protect yourself from unexpected incidents while traveling, an extended warranty can help you incredibly. An extended warranty gives you peace of mind on the road, and you do not have to worry about unwanted car breakdowns.
What things cover an extended warranty?
Before you buy an extended warranty, make sure what things will be covered in this warranty. Generally, an extended warranty covers the repair of all components, including spare parts, and also offers roadside assistance.
What is the duration of the extended warranty?
Generally, an extended warranty covers your vehicle from three to seven years; if you do not want to sell your vehicle for many years, then choosing a longer extended warranty plan is reliable for you. But in case you have to sell your vehicle before the time; you can transfer an extended warranty to a new car owner.
Is an extended warranty is transferable?
This is one of the most important questions that you should ask car dealers. Some extended warranties are not transferable. But most extended warranties are transferable to new car owners. However, there are some transfer charges that you have to bear. This feature of an extended warranty increases the resale value of your car.
What are the other benefits of an extended warranty? An extended warranty not only protects you from unexpected breakdowns but also offers other benefits. If your car breaks down on the road, an extended warranty gives you money for a meal or stay in a hotel. They also provide you a rental car for your convenience.
See here the benefits of appliance warranty plans.