Automotive Journal

extended warranty coverage

You may have heard that “research is crucial” when it comes to purchasing an extended warranty for your automobile. Sometimes auto extended warranties are portrayed in a negative light because of a few scam artists looking to capitalize off peoples’ concern for their investments. A recent Consumer Reports study recommended that people buy highly rated models only and that they invest in Money Market accounts to save for repairs, rather than invest in a warranty. However, if you tend to incur a good number of auto repair bills, if you plan on keeping your car more than three years and if you drive your car over the recommended 12,000 miles annually, then you are a good candidate for the extended warranty program.

Dealerships know that consumers trust them, by nature. An establishment that deals with billions of dollars in sales each year couldn’t possibly rip you off over a technicality like the extended warranty, could they? Well, perhaps they don’t mean to rob you blind, but think of the dealership as a retail operation. If you’ve ever worked in retail, whether it’s clothing, furniture, consumer gadgets or automobiles, then you know that retailers mark up the cost of their items anywhere from 100% to 1,000% of the cost value! Now imagine how much extra you could be paying for your extended automobile warranty. Don’t be afraid to go directly to the source and purchase your warranty online from a trusted company like Warranty Direct.

Another factor to consider is auto warranty for “wear and tear.” This type of warranty can be hard to find, since many only cover mechanical failure. However, you can definitely find extended warranty coverage that includes “wear and tear,” thereby covering parts like the idler arm, piston rings, U joints, CV joints, wheel bearings, motor mounts, suspension bushings, tie rod ends, seals, gaskets and other engine parts that gradually wear down and may or may not cause a mechanical breakdown.

If you have an anti-lock braking system, then you’ll want to make sure your coverage extends to ABS and instances of overheating. The comprehensive website, carbuyingtips.com recommends Warranty Direct and Nation Warranty Corporation, which both include “wear and tear” in their plans.

Lastly, ask your warranty company about things like a rental car, towing and travel reimbursements during the Standard Warranty Period. These extended warranty benefits can save you a lot of money and hassle if you get into an accident or suffer a breakdown! Also, check to be sure you can have your repairs covered at any ASE Certified Repair Shop. (Nothing is worse than having repairs done, only to find out that the repairmaster wasn’t part of the affiliate network!) Additionally, ensure that your auto warranty has a $0 deductible and that they pay the repair shop directly. If your warranty company asks that you pay upfront and “get reimbursed later,” then it could be a bunk deal. However, extended warranties can be a smart investment if you take the proper precautions and do your homework!

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