What is an Extended Warranty?
Extended Warranty is an insurance policy on your vehicle, much like health insurance, it's a safety net for unforeseen repairs. It's both an added cost and an added benefit since it doesn't come with the vehicle you're purchasing. There are two components in an Extended Warranty, Comprehensive and Powertrain:
Comprehensive, often mistakenly referred to as bumper-to-bumper, covers everything except wear and tear items, while a Powertrain warranty covers all lubricated moving components inside the motor, drivetrain and transmission. The mile limitation is a 10-year/150,000-mile.Should I get it?
First, we'll tell you why you wouldn't get it: if you're self-insured and paying out of pocket, or if you're planning to trade your vehicle within three years. If that isn't the case, here's why you would:
This really depends on which year/mileage deal you choose, but it can range anywhere from $475-$2,495 as a one-time fee for the full warranty with no catches and no exceptions! The main thing is, we don't benefit from this service - you do. So please feel free to ask us any questions you like, whether you're buying a car this week or are just curious for the future.
Extended Warranty is an insurance policy on your vehicle, much like health insurance, it's a safety net for unforeseen repairs. It's both an added cost and an added benefit since it doesn't come with the vehicle you're purchasing. There are two components in an Extended Warranty, Comprehensive and Powertrain:
Comprehensive, often mistakenly referred to as bumper-to-bumper, covers everything except wear and tear items, while a Powertrain warranty covers all lubricated moving components inside the motor, drivetrain and transmission. The mile limitation is a 10-year/150,000-mile.Should I get it?
First, we'll tell you why you wouldn't get it: if you're self-insured and paying out of pocket, or if you're planning to trade your vehicle within three years. If that isn't the case, here's why you would:
- It covers all unforeseen repairs except typical wear and tear items, so if anything goes wrong with your vehicle during the allotted time and mile constraint, we'll fix it.
- The deductible can be anywhere from $0-$100, which is roughly the cost of just an hour's labor - and realistically the cost to repair a vehicle without a warranty isn't going down.
- It has a one-time fee that you can include in your loan.
- It's transferable to the next owner, which adds value to the vehicle if you sell it.
This really depends on which year/mileage deal you choose, but it can range anywhere from $475-$2,495 as a one-time fee for the full warranty with no catches and no exceptions! The main thing is, we don't benefit from this service - you do. So please feel free to ask us any questions you like, whether you're buying a car this week or are just curious for the future.
Questions? Contact us!
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