Purchasing a vehicle is perhaps the biggest one that people make in their lifetime. With an investment this large, it’s important to learn the benefits that an extended auto warranty can bring. Here’s our top five reasons why you should buy an extended auto warranty for your vehicle:
1) Once the factory warranty ends, an extended warranty will protect your car
While most new vehicles come with factory warranties from the dealership, they are limited by the amount of miles or years of ownership. Once the factory warranty ends, you’re responsible for paying any out of pocket costs to repair your vehicle.
2) Your extended warranty can pay for itself after one major repair
We all know that car repairs can be very expensive. The technology in newer cars can easily cost over $1,000 to fix! If you purchase an extended auto warranty in advance, you can avoid paying these unexpected costs out of pocket. The price of one major repair can be more than you paid for your entire warranty, meaning you’re saving a significant amount of cash in the long run.
3) An extended warranty can have benefits not included in factory warranties.
Some extended auto warranties cover rental cars and 24/7 emergency roadside assistance for their policyholders. Basic factory warranties don’t normally come with this coverage. Daily car rental costs can quickly add up if your car is in the shop for a long period of time.
4) You can lock in savings on your new car.
Similar to a life insurance policy, the cost of an extended warranty increases as your car ages. Purchasing an extended auto warranty with your new car will cost you less than if you decide to purchase it after your factory warranty expires.
5) An extended warranty may increase resale value.
If you decide to sell your car before the extended warranty expires, the warranty can usually be transferred to the new owner for a small fee. Since the warranty gives the buyer extra peace of mind when buying a used vehicle, it can increase the resale value for the seller.
Bottom line: Is an extended auto warranty right for you? Extended auto warranties can be an excellent choice if you’re on a fixed budget and don’t want to be surprised by outrageous car repair costs, or if you just want to have protection for your car after the factory warranty expires.
Just like other types of insurance or warranty programs, there’s a wide range of policies that work for different situations. To see if there’s a policy that fits within your budget, get a free quote today from Good Stone Auto Warranty!
Article sponsored by Good Stone Auto Warranty