Pros and Cons of Buying an Extended Auto Warranty
Many automakers have expanded their original warranty coverage, making warranty coverage non-issue for many buyers. People may value the car's reliability and not who will pay for it if it breaks down. It could be that customers know that they have the option to buy a longer warranty if they wish.
This article will examine the pros and cons associated with purchasing an Auto Warranty or Extended Auto Warranty, which are as follow:
Pros: Extended warranties are tailored to fit specific needs
Extended warranties are offered by Extended Auto Warranty Companies that offer more products and services because original warranties from auto manufacturers can vary in terms of mileage and time limits. If a vehicle has a long powertrain warranty but a shorter Auto Bumper to Bumper Warranty, the third-party warranty provider can only extend the shorter warranty coverage.
Pros: Extended warranties cover expensive repairs and high-tech technology
Modern cars are complex and full of expensive technology, wiring and computerized equipment. It can be costly to repair, diagnose and fix a problem when such systems fail. The technological systems of new vehicles, such as SUVs, trucks, and cars, are now more reliable than ever.
This is why you should consider an Auto Warranty. You can request an exclusion list from your warranty provider to ensure that the extended warranty covers these and other important vehicle systems.
Pros: Dealers take care of all the paperwork and payment
Extended warranties that are offered by the dealer and sponsored directly by the manufacturer can be more costly. However, in return for the extra cost, the dealer handles all paperwork and pays the manufacturer directly for the services rendered.
These OEM-backed and dealer-provided warranties often allow car owners to have their vehicle repaired at any other dealership in the country. This removes some restrictions that may be included with third-party warranties.
Cons: Extended warranties are expensive
You are making a wager when you purchase an extended warranty. The warranty provider is betting that your car will eventually need more repairs than the warranty covers. The warranty provider also has a stake. The warranty provider is betting that your car won't need more repairs than what the warranty covers.
The odds of winning the bet are against you, considering how many extended warranty providers are available. However, it is possible to negotiate the price of extended warranties.
Cons: Extended warranties don't cover all repairs
Extensive warranty contracts come with a lot of fine print. Consumers should read the fine print and understand the terms and conditions of the warranty. An "exclusion list" is a document that identifies the parts, systems and repairs not covered by an extended warranty.
A good warranty provider will provide this information to potential customers. Before purchasing any extended warranty, be sure to read the exclusions.
Cons: Access to approved repair providers is limited
A third-party extended warranty like Endurance may be available to consumers who do not have the vehicle manufacturer's backing. This list will include approved facilities that can carry out covered repairs. These restrictions may make the warranty ineffective if the vehicle is damaged on a trip or if the warranty is still valid if the vehicle moves to another part of the country.
Cons: The Extended Warranty may not be used
Extended warranties from Extended Auto Warranty Companies on a vehicle is similar to buying health insurance. You might never need it, but you can save a lot of money if something does happen. Looking to purchase an Auto Warranty for your car? Visit CarWarrantyReviews.com, where you can get the best review and ideas of various Extended Auto Warranty Companies like Endurance, Carshield Reviews, etc. Car Warranty Review makes it easier for you to purchase or understand what is best for you.