Should I Buy an Extended Warranty on a Used Car?
So, you’re getting a used car and want to know whether to buy an extended warranty. That’s a smart question because it’s better to have the option of purchasing one than regretting not having one. Read on to find out if an extended warranty is right for your situation.
What Is an Extended Used Car Warranty?
An extended used car warranty, or “extended service contract,” covers the cost of repairing or replacing parts on your vehicle. This warranty is usually sold by used car dealers Calgary when you buy a used car, but it can also be purchased on its own from third-party providers.
How Do I Know if I Need One?
Whether an extended warranty is right for you depends on how much money you’re willing to spend and how often your vehicle will break down during its lifetime. If you want peace of mind that something unexpected won’t pop up and cost thousands of dollars to fix (and aren’t worried about missing out on savings elsewhere), then an extended service plan might be worth considering.
What’s Typically Covered on a Used-car Warranty?
The coverage you get depends on the warranty that you buy. Most extended warranties cover engine and transmission, brakes, powertrain (drivetrain), electrical systems, and air conditioning. Some also cover wipers and other components of a car’s exterior.
For example, if your car’s transmission fails after two years or 30,000 miles of ownership (a likely scenario on many cars), an extended warranty may help pay for repairs. The same goes for any other covered failure in those categories.
What Are the Pros and Cons of an Extended Warranty?
The pros of an extended warranty add up to a lot of peace of mind, especially if you’re buying a used car. If the manufacturer’s warranty doesn’t cover a vehicle malfunction, then you’ll be eligible for coverage from the extended warranty.
The cons are mostly financial. Insurance companies charge a lot for their policies, so opting in usually means paying more than you would have spent just fine-tuning your budget. However, some people value safety over cost and decide that having extra coverage is worth spending money on.
Additionally, they may feel less stressed because they know they won’t be left high and dry if anything breaks down unexpectedly during the life cycle of their new car purchase. That alone could make getting an extended warranty worth it.
Making the decision to buy an extended warranty on a used car is a personal one. If you’re concerned about expensive repairs down the road, then having an extra layer of coverage could be worth it. Consider how much money you can afford to pay for repairs, and factor in any manufacturer’s warranties that might still be active on your used car. That way, you can make an informed decision about whether to purchase extra coverage. As long as you do your research and understand the risks and rewards of extended warranties, you should be able to make a decision that’s right for you.
How Do I Get an Extended Warranty on a Used Car?
If you’re buying a used car, understand what kind of warranty to get. Your best bet is to get an extended warranty from the manufacturer or an independent company specializing in these products. This can often be done directly at the Calgary used car dealerships where you’re purchasing your car from.
If you choose this option, make sure it’s transferable. You don’t want to re-purchase a new one if something happens to it after you’ve taken possession of your vehicle. It should also be fully comprehensive and cover any mechanical or electrical issues arising from your purchase during its lifetime (or for up to five years).
Ultimately, it’s up to you what you want to do with your money. If you like having a plan for things, then an extended warranty might be worth it. For others who like to play it by ear, maybe not so much. Research before buying anything from anyone, and ensure it makes sense for your specific needs and budget. If all else fails, just ask around.
But if you’re in the market for an extended warranty, Stampede Auto is here to help. Our experienced team can guide you through all of your coverage options and make sure that you get the best policy for your needs. We also offer competitive rates and unbeatable customer service, so contact us today to get started!
We understand that taking out an extended warranty can be a big decision, so if you’re unsure whether it’s the right choice for you, feel free to reach out and ask us any questions. We’d love to help make sure that your used-car purchase is as stress-free as possible!
Frequently asked questions
Q: What is the difference between a manufacturer’s warranty and an extended warranty?
A: A manufacturer’s warranty usually covers defects in materials or workmanship for a certain period of time. An extended warranty, on the other hand, can cover components that have exceeded the manufacturer’s coverage. It can also provide additional protection for specific parts such as the transmission or engine.
Q: What is usually included in an extended warranty?
A: Extended warranties vary in coverage and depend on the provider you choose. Generally, they cover a wide range of components, including the powertrain, electronics, drivetrain, and more. Some may even include roadside assistance and towing services.
Q: How long does an extended warranty last?
A: The length of coverage varies depending on the policy, but it typically lasts anywhere from one to five years after the purchase.
Q: Does Stampede Auto offer any kind of incentives for getting an extended warranty?
A: Yes! We offer competitive rates and exclusive discounts for customers who purchase an extended warranty from us. Contact us to learn more about our current offers!
At Stampede Auto, we know how important it is for you to get the right warranty for your used car. We are here to help and provide you with all the information you need to make an informed decision. Contact us today to learn more about extended warranties and how they can protect you in case of any unexpected repairs or issues. We look forward to helping you out in any way we can!