Should you purchase a car warranty for your used vehicle? Tips to consider
Purchasing a warranty can be a useful way of protecting your vehicle from costly repairs down the road. While new vehicles may automatically include warranty protection, the same may not apply to used cars. You may need to purchase a warranty along with your used car purchase to enjoy these benefits. However, what goes into selecting a warranty, and how will you know if you're getting a good deal? Read on to find out.
Understanding vehicle warranties
A used vehicle warranty works differently from other types of warranties that cover new cars or your electronic devices. In vehicles, a warranty can be thought of as a kind of insurance that insulates you against the high costs of repair. The warranty allows you to take your vehicle to an approved repair shop and get servicing at little to no cost. The warranty may be provided by your dealer, insurance company, or other relevant bodies.
Coverage typically lasts for a specific period after purchase. In the case of used cars, a warranty can help you prevent the burden of unexpected repairs. Indeed, there's a lot of uncertainty that goes into purchasing a pre-owned vehicle. A warranty gives you the peace of mind that any servicing will be handled without significant financial burden.
While most warranties are included in the purchase price of your vehicle, some may be spread out into monthly payments over an extended period. Warranties may also vary in what they cover. In the case of used vehicles, most warranties are limited to parts of the vehicle that don't wear out over time. These include tyres, fluids such as engine oil, brake pads, wiper fluids, and other similar parts.
How to determine if a warranty is worth it for car repairs
Any used vehicle will need regular servicing to remain in good condition. A warranty is an excellent way of protecting yourself from high repair costs and the inconvenience of not having your vehicle when you need it most. If you're looking for engine protection, transmission repairs that will last for years to come, and bodywork maintenance, purchasing an extended warranty is a useful option to consider. Warranties are also suitable for those who drive their vehicles over long distances on a regular basis.
However, you may not need a warranty if you rarely use your vehicle or if you have an affordable insurance plan. Some people receive lucrative discounts from their insurance companies and thus can receive coverage for repairs while paying an affordable premium. Weigh the pros and cons before deciding if a warranty is worth it for you.
To learn more, contact a place that offers car servicing.