Top 6 Reasons to Get an Extended Car Warranty
Top 6 Reasons to Get an Extended Car Warranty
If you have clicked on this article there is a good chance that you want to make sure getting an extended car warranty or vehicle service contract is the right choice for you. Much like any protection plan, it is a good idea to research your options. Overall it comes down to your consistent availability of funds for vehicle repairs. If you have funds available for repairs on a regular basis then you will likely be able to pay for repairs out of pocket. Otherwise, other options are there to assist you in getting repairs when you need them after a mechanical breakdown that will suit your budget.
Extended auto protection is a good idea, particularly if you drive frequently and/or long distances. You have the opportunity to save on large repair bills as well as enjoy the added benefits that come with the plan. As someone who has had to deal with mechanical issues with no coverage, I am certainly a fan of having this failsafe in place. Aside from the principal purpose of extended car protection, there are other reasons to get an extended car warranty or vehicle service contract.
Top Reasons for an Extended Car Warranty
Extended car warranties and vehicle service contracts are plans that provide protection in the event of a mechanical failure. When you break down and find yourself stuck on the road, there is a good chance you will want to have a vehicle protection plan in place. Getting one beforehand will ensure that you have one when you need it and that you will have already passed through the waiting period. The top reasons for having one of these plans in place are the following:
- Savings
Mechanical repairs on your car can be costly for parts and labor. A transmission repair can be upwards of $3,000 depending on the damage. While something like a water pump replacement could set you back around $700. An extended auto protection plan will mitigate most of the costs for the repairs, including labor.
- Higher Resale Value
It is no secret that cars in good condition with low mileage have much better resale value. However, something else that contributes to the value of your car is an extended warranty. The extended car warranty will give you the possibility of better car maintenance and retain value. Many warranty plans are transferable for a small fee. This is also true for vehicle service contracts.
- Added Benefits
Many warranty plans and vehicle service contracts offer added benefits that make life that much easier when a breakdown happens. Many full-coverage or enhanced plans offer 24/hr roadside assistance. Other optional add-ons include car rental benefits, towing services, trip interruption, and sometimes meals and accommodation.
- Flexibility
A vehicle service contract often offers better flexibility that can better suit your needs. You will have the option of shopping around to find a plan that will suit your yearly mileage usage as well as your budget. Extended car warranties typically don’t allow for flexibility.
- Peace of Mind
Owning a car has many pros but also certain cons that make it difficult to always have the knowledge that all is good with your car. Particularly if you do not have the means to keep money aside for unforeseen repair bills. An extended car warranty or vehicle service contract can give you the peace of mind that in case of a mechanical breakdown, you are covered.
- Alleviate Cost of Ownership
Car ownership has ongoing usage and maintenance costs to keep the car running well and in a good condition. While also having the potential for unpredictable breakdowns. An extended car warranty or vehicle service contract alleviates the unforeseen costs of car ownership making budgetary decisions much easier.
In the end, extended auto protection can take much of the stress away and give you a worry-free drive. Think of them as a safety net in case you find yourself on the side of the road with a broken-down car. For those of us living paycheck to paycheck, it really is a good solution.
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