With every new car comes a vehicle warranty whereby you are covered for repairs based over a certain period of time and of course, in Canada, kilometres whichever comes first. The warranty from the manufacturer differs from brand to brand, however, you are able to get extended automobile warranties.
What extended automobile warranties do is allow you to extend the warranty that comes from your manufactuer, or in the case of a used car improves on whatever warranty is being offered by the dealership. It is totally up to you as to whether you want to purchase extended automobile warranties, however, many people don’t realise that the choice to have it means you are much more protected.
Here are 5 benefits to adding extended automobile warranties, which will give you some “food for thought”
1. Parts and Labour Coverage:
Extended vehicle warranties in the past covered you only for the labour but not the parts. Today for everyone dollar you spend on labour charges in your service department, you are spending 1.5 times that on parts. With extended automobile warranties of today you are covered for genuine replacement parts and your labour.
2. Protects from Unplanned Repair Expenses:
There are a great many of use who are working within budgets and because of that to keep payments down we are financing for longer terms, typically beyond the coverage of the original manufacturer’s warranty. What you need to think about is beyond that original warranty and ask yourself “where will I get the money to pay for a $2500 repair bill, if it were to happen?” Extended vehicle warranties mean that you have that peace of mind.
3. Unlimited Repair Claims Allowed:
There are NO limits as to how many times your car goes in for repeair and there is NO limited on the amount of money it covers.
4. It Is Transferable:
If you decide to sell your car and you have extended automobile warranties in place, not only does it make buying your car more attractive for the new buyer, but extended vehicle warranties are fully transferable. So now the buyer is getting a used car with a warranty!
5. Can’t be Cancelled:
Regardless of the amount of times you car goes into the shop for repairs and regardless of how much those repairs are, with extended vehicle warranties in place they can’t be cancelled and even better your premium can not be raised.
These are 5 benefits to getting extended automobile warranties, however, you can read more about new car extended warranties that will help you reinforce why they are a wise investment.
If these benefits still don’t hit home the fact that extended vehicle warranties are a wise investment, then finish off by reading this …
Your new car has over 17,000 moving parts. If it were built 99% “perfect”, that means 170 parts would fail during the life span of your new car. Going further if it were built 99.9% “perfect” that means 17 parts would fail during the life span of your car, and going one more step if it were built 99.99% “perfect” then 1.7 parts would fail during the life.
Failure of one or two parts could be something as inexpensive as a seal for $15 or an engine for $4000+. What you need to stop and consider is … If it was a major part that went would you be able to just pop out the cash to pay for it? The more important question is doesn’t it make sense to spend money on extended vehicle warranties now so you can keep that you are fully protected and can keep that $4000 where it belongs … in your pocket?