As a motorist, it is important to understand the value of warranties and how they could save you a huge amount of money and stress if you break down. When you buy a new car, it will come with a standard manufacturer warranty that usually lasts around 3 years or 60,000 miles. If you encounter any issues at this time, the cost of repairs and replacements will be covered. So, what happens after this warranty expires?
Extended Warranties
A motorist can go without a warranty, but this is risky which is why most will take out an extended warranty. An extended warranty will protect you against mechanical or electrical issues and cover the costs of labour, repairs and parts. As you would expect, all warranties are different so you need to always read the small print to see what is covered and what is not covered.
Getting Cover For an Old Car
When purchasing a used car, it is important to buy an extended warranty. Keep in mind that older vehicles are more likely to encounter issues as they age and you do not want to be the one footing the bill if there are problems. Work on the engine, gearbox, electrics, steering and suspension can cost a huge amount and could leave you with a difficult decision to make.
Options
You have a few options when it comes to where to get an extended warranty. You can get a manufacturer extended warranty, buy from a used car dealership or find an independent provider. Usually, it is best to go with an independent provider as they will have the best levels of cover and greater flexibility so that you can find the right extended warranty for your needs.
What to Look For
There are a few key things to look out for when taking out an extended warranty. You should see what the age and mile limits are for the policy and check the labour rate, which is the maximum amount that they will pay towards labour costs. It is also important to compare extras, such as hire car cover and roadside assistance. You also need to know what is not included, which often includes batteries, wheels, tyres and catalytic converters.
It is important for first-time buyers and all motorists to be aware of the importance of having some form of warranty protection when behind the wheel. An extended warranty is a sensible option when buying a used car and will help you to avoid a nasty shock if you encounter an issue.