Is an Automobile Warranty Worth it?
While buying a car, whether new or used, every buyer always faces many questions, one of them being if they should purchase an extended car warranty or not to protect them from expensive vehicle repair bills and tickets.
In general, these three are the institutions who generally offer to cover and supplement the original manufacturer’s warranty. These are the auto manufacturers themselves who extend service agreements on parts and components, followed by the third party supported extended warranties and contracts and finally auto repair insurance companies.
Essentially, the extended repair service contracts are just insurances. Studies show that on an average people pay around $1200-$1800 for an extended warranty, but what these contracts cover is expensive repairs after your original warranty has expired.
An extended warranty allows one to continue experiencing the coverage and protection for the auto repairs of a vehicle. Endurance offers many variables, versatile and highly customizable options to their consumers. From matching the original manufacturer’s bumper-to-bumper coverage to cheaper and less expensive basic plans covering only the limited basic components, this kind of warranty offers consumers coverage plans based on their needs.
Now to do a Manufacturer versus Third Party Extended warranty comparison. Both the manufacturer and third party offer extended warranties, third-party companies being quite reputable, but general customer satisfaction is usually better when it comes through the auto manufacturer extended warranty.
Still, there arises many differences in the kind of components provided in each warranty. A manufacturer warranty will be using factory parts, factory trained dealers and mechanics, free transferable warranty when selling a car, easy to get refunds and a good customer satisfaction rating. Though the third party warranties would be using the third party aftermarket components, the customer satisfaction is a lot better than a manufacturer Service Center.
Although warranties are available through the manufacturers, one does not need to choose that day only, but any day before the warranty that was originally on the car runs out. The price of the warranty depends and varies widely on the car, the coverage plan but on an average, it comes down to $1200.
An example of a third-party provider is Endurance warranty. They are rated A+ by the Better Business Bureau (BBB) and Gold-certified by the Vehicle Protection Association (VPA) and is one of the accredited third-party warranty providers. Their website even provides some great tips for Road Trips this holiday season as well as advice on auto related inquiries.
A great auto warranty should provide extensive, pocket-friendly coverage with highly flexible and customizable plans and coverages, cooperation with suppliers from the complete bumper-to-bumper original manufacturer’s warranty to even including the excluded parts from manufacturer’s list. Also, in finding great auto extended warranty, one must be able to understand the simple and basic coverage extending the coverage and protection of one’s automobile vehicle, since this will extend their vehicle’s lifespan years effectively.
With the benefits that a warranty gives, they are a great cost-effective way to have great financial protection when you most need it.