When buying a used car, it would be good to have an extended warranty, especially if major repairs and replacement parts of the vehicle have been made. An extended warranty is a good and valuable choice, especially when you want to service your car regularly and make sure that it will not miss anything at any time. It is in some way and expected responsible behavior by the owner. Such warranties do not always cover all damages, but they are still good to have because the cost of repairs is really high and every car owner knows that.
The cost of an extended warranty depends on many factors, but most of them are focused on the car model and the current mechanical condition, and most often in the United States these prices range between 1000 and 5000 dollars. Sometimes the buyers include this document in the loan they take to buy it. If you need to dig deeper into this, you can check this for details, especially if you are an Audi owner, or you want to buy a car like that.
What are the reasons to get such a document and what are your benefits? Let’s find out!
1. You save money
This is very important because there is almost no car owner who at a given time was not forced to pay a huge amount of money for repairs. An extended warranty, even if only partially, can greatly reduce these costs and you, as the owner, can save some money or be able to make several repairs at once, not just the ones that are a priority. Keep in mind that even a reduced price is a great advantage, as many car parts are really expensive and sometimes have to be purchased from another country, which includes customs and taxes.
2. You are mentally calm
When you have your own car, you also have a lot of headaches associated with it. This means that you should also consider registration, possible repairs, and other incoming costs. But an extended warranty somehow calms your mind, knowing that at least part of the cost will be lower.
3. Covers a large number of costs
Although they are not identical to the original warranties that come with a new vehicle, there are a number of costs that extended car warranties cover for you. Of course, this does not include routine maintenance such as replacing wipers, repairing doors and windows, or replacing some minor parts such as tires and oil. This warranty is usually issued for more serious damage and more expensive parts, which require a professional approach to solving the problem. They are actually the most expensive in the process of owning a vehicle. That daily maintenance is not a big burden on the budget and is rarely covered by standard documents. All you have to do is read the copy of the contract so that you can react in time and add an item that you would pay extra at the moment, but which will save you a lot of money later. Always read what you sign to know what you are actually spending money on when purchasing an extended warranty.
4. Should you buy it for a new car?
There is usually no need for this, as you have a manufacturer’s warranty that lasts up to several years, depending on the model and brand. But when you buy an old and used car from a reseller or from a previous owner, it would be good to ask for such a guarantee, because it is very likely that the old one has already expired or is about to expire. Sometimes the official resellers themselves offer a basic version of the extended warranty along with the vehicle, and the buyer can add items, depending on the needs. However, read what the warranty covers for the new vehicle, so if you think there is a need, you can buy an additional policy.
5. If you are selling a car, you can ask for a better price
The guarantees can be transferred to the new owner, and you can define the price in proportion to the validity of the existing one. It will also give temporary peace to the buyer, who will know that part of the repairs and the purchase of new parts will be at a lower price, especially if the maintenance of the specific vehicle is expensive in itself. At the same time, it is a benefit for you, because as the years go by the price of the models falls, depending on their age, so the warranty you have already bought can improve the average price you will be asked to pay.
Are the extended guarantees worth the money you spend?
As we mentioned, sometimes the price of such an agreement and document can exceed several thousand dollars, which is really a lot of money when we think and compare amounts. You can never know if something will go wrong and how much it will cost to repair it, but you do know that new parts and some complicated maintenance can be too expensive for your budget. Many argue that if they can afford even a used car, it is a good idea to have extended warranties as an option. Sometimes some parts are not available right away, so ordering and importing can be more expensive than the document itself. So, in our opinion, it is worth investing in an extended warranty.
We believe that you are a responsible owner who wants only the best for your vehicle, so we believe that you must take all necessary steps for its protection, but also for yours. Probably you can never predict how things will go in the future, but we really believe that it’s always better to be ready for critical situations, instead of hoping that nothing bad will happen. Maybe you won’t even use any of the benefits from the warranty, but you can never know that, so we highly suggest to consider buying one, for your own good and peace of mind.