Imagine driving down the road with the windows down while blasting music. Your car suddenly begins to make noises that sound like a robot gargling margarine. You can feel your heart sink. The warranty of your car expired just last month. What next?
The Vehicle Protection Plans comes into play here. You can think of them as an extra safety net that will give you peace and comfort.
Let’s begin by deconstructing it. It’s a kind of insurance for your car parts and system after the manufacturer warranty has expired. It covers replacements and repairs for certain components within a specific time frame or mileage.
Here’s the thing: these warranties aren’t all-encompassing. There are many differences in coverage, cost and duration. Some insurance policies only cover major mechanical problems, while others also include benefits like roadside help or rental reimbursement.
Why would you pay extra for one? Imagine you’re on your way to a cross country road trip when your transmission goes out. If you don’t have an extended warranty, your repair bill could easily reach four figures. One? You could only pay for a small deductible.
Still skeptical? We’ll tackle some common misconceptions.
*Myth #2: Extended Warrantys Are just Dealer Scams**
Some dealers are very aggressive in pushing these warranties, as they receive a commission. But not all extended warranty plans are the same. Some third-party vendors offer solid plans that cover comprehensive coverage for competitive prices.
**Myth #2 – They’re too expensive**
Think about the savings that you’ll make over time. Compare the price of a standard warranty with the amount you’d have to pay out-of pocket if your major appliance breaks down.
**Myth # 3: My car is reliable and I don’t want one**
Murphy’s Law has a way of causing us to be surprised, even with reliable vehicles. The extended warranty is your financial cushion against these unexpected expenses.
Here’s a quick guide to what you need to know when shopping:
1. Please read the details of coverage to ensure you understand exactly what’s included and what’s excluded.
2. Do not go for the lowest priced option.
3. Check out the reviews and ratings left by other customers.
4. **Flexibility**: Can you transfer the car warranty when you sell it?
5. *Claim Process**: How easy is it for you to submit a claim?
Let’s get started! Let’s mix in some real stories!
Jane purchased her SUV three-years-ago, but did not opt for an extension warranty because she thought that her car would be indestructible. (Spoiler: it was not). After two years, the engine of her car failed in rush hour traffic. The total repair cost was $6,000! $6,000! Ouch!
Bob was the one who decided to extend his plan, even though he had been called paranoid. His air conditioner broke down during a heatwave in the summer. Repair costs were covered by his trusted warranty.
Can you see my direction?
It’s true, not everyone wants one. If you drive an older vehicle with a lot of issues or plan on trading it in soon, you might want to pass.
But on the flip side, it might be worth every penny in case:
– You drive long distances regularly
Plan to ride your bike till the wheels fall out
If you prefer additional protection, this is the best option for you
People, it all boils down personal choice & circumstance (and perhaps a little luck). If someone ever asks: “Is an auto warranty extension worth it?,” you’ll know the answer without breaking a sweat.
You should always read the fine prints before signing. If you don’t, then you might end up with less than useful items like a chocolate-covered teapot.