BENEFITS OF PURCHASING AN EXTENDED WARRANTY
Many of us have waged an internal debate with ourselves, trying to decide whether to opt for an extended warranty on our cars or not. Is the extra monthly cost really worth it? Here are a few good reasons why you should go ahead and invest in an extended warranty for your car.
NO NASTY BUDGET SURPRISES
It does not matter how good the reputation of your car is for its durability and reliability, there is always the chance of an unexpected, expensive vehicle repair happening. As Murphy’s law would want it, it is bound to hit you after your new-vehicle warranty has expired. Today’s cars are also more complex, sporting expensive technologies, intricate electrical wiring, and computerized systems. This means not only is there an increased chance of a system breaking, but also repairs will be more difficult and costly.
Most people have to keep a strict monthly budget in order to get by, and not many of us have the financial capacity to deal with large, unexpected expenses. If you plan to keep your car for longer than the length of its original manufacturer’s warranty — which, according to statistics, is a growing trend among car owners — it is wise to take the plunge and opt for an extended warranty.
OTHERS WILL HANDLE THE ADMINISTRATION FOR YOU
If you buy a warranty through your dealership that is sponsored by the auto manufacturer, the dealer will handle all the drab and time-consuming paperwork for you. On top of this, you will be able to take your car for repairs to any dealership that sells the same brand of car, anywhere in the country. Not only are you saved from filling in all the paperwork and chasing after money, but you can also take your car in for repairs to a location that is convenient for you.
INCREASED SALES VALUE
Many extended warranties are transferable to future owners at a minimal transfer fee. This will not only increase the sales value of your car but is also bound to give the buyer an added sense of security and peace of mind.
Apart from the obvious repairs that you will be covered for, many extended warranties also come with extra benefits, such as a towing service, car-rental discounts, lost-key lockout services, and trip-interruption benefits. Some extended warranties will even, in the case of a breakdown, provide you with money to cover a hotel stay, meals, and a rental car to get you back on the road as soon as possible.
Life is stressful as it is. There are unforeseen circumstances and events that you cannot plan for or prevent. With an extended warranty, you can at least know that in the event of a breakdown, you will be covered financially. You will also be provided with support to get you back on the road safely and efficiently.