More and more car consumers are having their cars for extended periods of time. A practice that was not observed before experts say. This is probably as a result of an increase in technology applied in the cars being designed. For this reason, extended car warranties are becoming more and more lucrative to many. Many companies have cropped up supplying original warranties for 10-year coverage or 100,000 miles covered. A few provide only 3 years of coverage or 36,000 miles of travel. Whichever plan you choose, the plan will to your benefit. But do not take our word for it. Let’s delve deeper into some pros and cons of extended car warranties.
Pros
Extended car warranties can be tailor made
Given the fact that the car warranties provided vary from company to company with regards to the time and the mileage covered, the additional services and products offered are more than they were in the past. For instance, if a car has a lengthier powertrain warranty than bumper to bumper warranty, the third-party company offering the extended car warranty may choose to extend the shorter warranty rather than the longer one. Another example is when come companies choose to provide roadside assistance for 24 hour for the new vehicles that do not have this coverage from their manufacturer coverage.
They cover costly technology and repairs
It is evident, and we love the fact that the current vehicles are complex than they were in the past. They are full of all sorts of technologies from computerized equipment to its wiring. They are all great and perfect until they fail. They are expensive to diagnose and isolate let alone repair the problem. And given their reliability, tech systems are one of the major reasons why extended car warranties are important. When you do get a warranty for your car, be sure that it covers the tech features in your car.
Cons
Warranties are expensive
Buying an extended car warranty is more like placing a bet. A bet that your car will at one point in tie require repairs that will surpass the cost of your warranty. The warranty provider is also placing a bet hoping that your car will never require repairs surpassing the cost of your insurance. Either one will win. You have to pray that the odds are in your favor. But given the rate at which car warranty companies are popping up, it would seem as though the odds are nowhere close to being in your favor.
They do not cover all repairs
With these kinds of contracts, it is all about the fine print. It is imperative that you read the fine print before you sign and commit to the contract. Understand what your warranty covers and what it does not cover. Ask the company to provide you with an exclusion list detailing all the parts, services and repairs that the warranty does not cover.
Weighing the pros and cons, and you decide to get an extended car warranty for your vehicle, pick American Automotive Services Solutions to work with for quality service(s).
No comments:
Post a Comment