While we are dreaming about buying cars, none of us pay much attention to the benefits and the extent of the car warranty, or the extended warranty, provided with it. A car warranty is an extremely important form of assurance provided on behalf of the manufacturer to the vehicle owner.
A warranty ensures against untoward issues faced while using the vehicle, or the car in general; all expenses for repair and servicing will be borne by the manufacturer as well as any defects/issues along the way. People who usually take the warranty lightly don’t realize how it can help one day and the variety of benefits that come with it.
1. A Coverage Plan
A quality car warranty usually takes care of all the parts and their repairs in case they are damaged. Even though there is a certain limit to the amount provided for you, knowing that your future servicing costs and other additional costs can be a stress reliever.
There are different kinds of coverage plans to choose from. A bumper-to-bumper warranty includes all vehicle systems, electronic parts, air-conditioning, safety features, steering, and batteries.
A powertrain warranty only includes the parts of a drivetrain such as an engine, transmission, axles, gaskets, and more.
A corrosion warranty includes the repairing cost for exterior body decay caused by rust, water, and other environmental factors.
2. Warranty over Insurance
Several vehicle owners ignore an extended warranty and value an insurance plan instead. A sudden issue with your transmission, chassis, body parts or even the engine might not always be covered under an insurance policy. Using an extended warranty also allows owners to not be bothered about making insurance claims and having them approved. A proper extended warranty plan will always cover crucial automobile parts that might be needed and other issues faced by a vehicle owner. A warranty limits the responsibility and the liability for any defect in the vehicle, whereas an insurance policy specifically provides coverage to the risks of potential damage as mentioned under the policy terms. Another reason to trust a warranty is that it usually comes from the manufacturer, seller, or a third-party organization related to either of the two. A warranty also covers payment for defective parts that are never done by an insurance company.
3. No Sudden Investment
If you don’t have a warranty or an insurance policy in place, defective parts such as the crankshaft or the turbocharger might force you to shell out a huge amount. These parts along with many others are generally cost-intensive to repair, let alone replace. Instead, car owners can pay the recurring premium to a quality car warranty and save a lot of money in the long run.
An insured customer has to file for a claim to utilize the benefits of the car insurance policy. There is a process of initiating a claim, followed by an investigation of the claim made, approval or declination of the claim. In short, it is a long and tedious process.
A warranty will directly pay for any issues that you might be facing with the car or replace the defective parts of it.
4. Resale Value
A car that comes with a warranty naturally has a higher resale value. It also allows you to get more customers as people will be looking forward to buying a car already covered under warranty.
An extended warranty on a used car doesn’t only guarantee the prospective buyer about the condition of the car, but also helps them enjoy similar benefits upon ownership of the vehicle. Unexpected major expenses after purchasing a car are not expected if it is under warranty. On the contrary, a warranty only increases the seller’s credibility.
5. Warranty Limit
A car warranty usually comes with an option where you can choose whether you want to make the limit of your warranty on the years of use, or on the kilometers run. This essentially provides you with the flexibility to change the plan according to your use and requirements.
These plans are designed specifically for each model and make, based on the expected use of the car. A warranty usually costs much less and some brands even assure service for “unlimited kilometers” allowing you to stay stress-free about potential repair costs.
Tips to choose the best car warranty services
- Always choose a reputed and experienced warranty provider over a new one. Satisfied customers usually mean that the service provided is reliable.
- Transparency is key, there should be no secret clauses or conditions based on which you are supposed to receive your money.
- Read through the different plans thoroughly to know exactly what the warranty covers. Make sure to pay specific attention to what it doesn’t. This will help you choose an ideal plan that suits your estimations.
- Check for any options for customization. A company that offers a customizable plan is sure to accommodate your requirements into their warranty plans.
- Make sure you avoid a company that includes hidden costs or offers a deal that is a little too good to be true. A quality warranty provider will cover repair, defect, and labor charges.
- Check for added benefits such as roadside assistance, towing charges, car rental reimbursement some companies even provide travel expenses if something happens to your car while you’re traveling.
A warranty doesn’t only save you from the hassle of paying for repairs, it also gives you the much-needed peace of mind as a vehicle owner. An extended warranty can come with several other benefits, such as greater resale value and flexibility of plans. If you want to get yourself a quality car warranty, or an extended warranty, look here for more information.
There are several things to keep in mind while selecting the correct warranty provider and plan for yourself. Make this choice based on the kind of benefits you wish for yourself and go for a plan that best suits your car. Choosing a proper plan, and knowing your requirements while buying a warranty, can save you from a lot of hassle and pain.