Considering an Extended Warranty for Used Cars!
When making a purchase as significant as buying a car, the hope is that everything will run smoothly while you own it. We all know, however, that things can happen. Major repairs on a vehicle are never cheap and can quickly turn into a stressful burden. If the car you’re buying has the original manufacturer’s warranty on it, that’s a great spot to be in. If it doesn’t, there are numerous options when it comes to keeping yourself financially protected with an extended warranty for used cars.
Want to see a bad rap? Google “extended car warranty”
If someone says the phrase “extended car warranty”, what’s the first thing you think of? For some, those two words carry unpleasant connotations — generally of warranty companies tacking on an expensive policy when buying a car that’ll end up costing you way more than its worth. Need proof? Google ‘extended warranty’. Not exactly the brightest results.
Extended Car Warranties (also known as car maintenance insurance) are offered on everything from cars to TVs. In some cases, particularly with items other than an automobile, it’s not always wise to pay for the extra insurance. According to an article from Consumer Reports, the vast majority of consumers have been offered some kind of extended warranty with their appliance/electronics purchase. In that same article, a Stanford study revealed that because most shoppers overestimate how much repairs will cost, they end up paying too much for that extended warranty.
When it comes to cars, however, an extended car warranty is something worth seriously considering. In a lot of cases, significant repairs aren’t needed until the vehicle is three to five years old, which is generally when the manufacturer’s warranty has expired. Costly repairs, that could have easily been covered under warranty, are not something anyone wants to deal with. The right extended warranty policy could save you thousands.
So, how do you know if car maintenance insurance is right for you? There are a couple of key things to consider.
How long will you own the car?
One of the most important questions to ask when deciding on an extended warranty for a used car: How long do I plan on owning this vehicle? If you intend to keep the car for two years and the manufacturer’s warranty is active for three, then there’s clearly no reason to spend the extra money. However, if you plan on keeping the car for a long time and want extra peace of mind when the stock warranty runs out, then an extended car warranty policy might be perfect.
A car’s mileage also plays a role. You may not plan to keep the car for years, but perhaps its mileage exceeds the original warranty; that’s another great scenario where an extended car warranty for used cars could work.
Can you handle a large repair bill?
Auto repairs can be expensive. And it’s not just the upfront cost of having them done. There’s the time it takes, towing bills, lost income if you rely on a vehicle for your livelihood, potentially maxing out credit cards. This isn’t about doom and gloom, it’s just about recognizing that repairs can quickly escalate and having the right extended car warranty can be a big help.
Be sure to check out this comprehensive article from Edmunds discussing other important details to keep in mind when looking at an extended car warranty.
Extended Warranty for Used Cars, PMC is a Highly Recommended Provider
This is where Protect My Car comes in. Ranked as one of the Top 5 extended warranty plan companies by Consumer Affairs, Protect My Car offers affordable, flexible warranty plans that fit a wide range of budgets and situations. And, if you become a part of PMC’s unique Ambassador Policy, you can take advantage of great perks like free 24/7 roadside assistance, rental car reimbursement, discounted repairs, and free oil changes to name a few.
Extended car warranties are not the right option for everyone. It can be, however, a fantastic way to secure peace of mind and potentially save thousands on costly repairs. Protect My Car provides numerous extended warranty options that put you, the customer, first. If you’re thinking about opting for that extended warranty you heard about, then see your rate RIGHT NOW with a FREE EXTENDED CAR WARRANTY QUOTE from PMC!